Obligations to Laurus Fully Repaid
LARGO, Fla., Oct. 15 /PRNewswire-FirstCall/ -- Dynamic Health Products, Inc. (OTC Bulletin Board: DYHP.OB) ("Dynamic"), a leading distributor in the sports nutrition product and performance drink industries, announced today that it filed its Articles of Merger with the Florida Secretary of State today as well as notified Nasdaq of its merger with GeoPharma, Inc. (Nasdaq: GORX) ("GeoPharma"), effective Tuesday, October 16, 2007.
Additionally, Dynamic has repaid Laurus Master Fund, Ltd. ("Laurus") approximately $5.9 million in full satisfaction of all obligations to Laurus.
Mandeep K. Taneja, President and CEO of Dynamic stated, "It was a pleasure working with Laurus over the last few years. Their support gave us the flexibility, room, and capital required to help increase our revenue from approximately $16 million in our fiscal year ending in March of 2005 to approximately $56.8 million in our fiscal year ending in March of 2007."
Recently, Dynamic was honored to be ranked number 9 in Entrepreneur magazine's (August 2007 issue) HOT 500 list depicting America's top fast- growth businesses and the entrepreneurs who built them.
About Dynamic Health Products, Inc.
DYHP is a distributor in the sports nutrition product and performance drink industries and is engaged in developing, wholesaling, and distributing a wide variety of non-prescription drugs, dietary supplements, vitamins, health foods, nutritional products, soft goods and other related products. Their wholly-owned operating subsidiaries include Bob O'Leary Health Food Distributor Co., Inc., Dynamic Marketing I, Inc. and Herbal Health Products, Inc. Additional information on them can be found at http://www.dyhp.biz http://www.bossonline.net http://www.dymark.com http://www.wallstreetresources.net/dynamic.asp
About GeoPharma, Inc.
GeoPharma, Inc. is a rapidly growing pharmaceutical company specializing in the manufacturing and distribution of over-the-counter, nutritional, generic drug and functional food products. GeoPharma manufactures, packages and distributes private label dietary supplements, over-the-counter and generic drugs, as well as, health and beauty products for companies worldwide. This is accomplished by utilizing our four Florida-incorporated companies, Innovative Health Products, Inc., Libi Labs, Belcher Pharmaceuticals, Inc. and Breakthrough Engineered Nutrition, Inc. Innovative Health Products and Libi Labs specialize in the development and manufacturing of a broad range of nutritional supplements and cosmeceuticals. As a private-label contract manufacturer, we develop and manufacture for ourselves, and our customers, dietary supplements and health and beauty care products for distribution through various outlets. Belcher Pharmaceuticals, Inc is a state-of-the-art FDA-registered, drug development and manufacturing facility for generic and over-the-counter drugs. Our fourth Florida Corporation, Breakthrough Engineered Nutrition, Inc., develops markets and distributes its own branded dietary supplements. DEX-L10, DEX-C20, OxyFirm and Cortiloss are Breakthrough's current dietary supplement brands. Breakthrough's products are distributed nationwide and internationally in specialty, food, drug and mass outlets, including Target, Wal-Mart, GNC, Walgreens, CVS, Rite Aid, Duane Reade and many others. We also have an established network of brokers and distributors strategically located across the United States and Canada. GeoPharma's growth strategy is to capitalize on its manufacturing expertise to develop high margin generic or novel drugs for niche markets with high barriers to entry. GeoPharma's competitive advantage lies in its ability to circumvent or overcome the challenges in these markets. For more about GeoPharma, Inc., go to our websites at http://www.geopharmainc.com, http://www.hoodiadexL10.com, and http://www.onlineihp.com
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release may contain certain forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements are presented based on current information available to management and in consideration of assumptions concerning information available to management regarding future events. Forward-looking statements are subject to risks and uncertainties that could cause future events or results to differ materially from such statements. Dynamic Health Products, Inc. disclaims any intent or obligation to update or revise any forward-looking statements and presents information herein solely for the intent of delivering general information regarding the company.
President & CEO
Dynamic Health Products, Inc.
Largo, FL 33773
|SOURCE Dynamic Health Products, Inc.|
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