Navigation Links
QMed, Inc. Announces $750,000 in Financing and Settlement with DAKOTACARE
Date:3/20/2008

EATONTOWN, N.J., March 20 /PRNewswire-FirstCall/ -- QMed, Inc., (Nasdaq: QMED) today announced that in order to have time to continue to pursue a strategic alternative and to satisfy its need for working capital in the immediate future, the Company has entered into an agreement with Michael Cox, former CEO of QMed, John Gargana, a former director of QMed and Barry Levine, to receive up to $750,000 in working capital for the Company. The financing is structured to provide $375,000 to the Company at closing, with an additional $375,000 to be deposited into an escrow account, which could be released at the Company's request, in two stages, upon achieving certain milestones in connection with the possible sale of the Company or its assets, within certain specified time frames. Either the Company, on reaching the milestones, or such investors, may require the release of such funds to the Company. The loan proceeds plus interest, together with up to $620,000 in severance obligations owed to Mr. Cox (as to which he has agreed to forbear, as noted below), will be secured by substantially all assets of the Company, other than securities and other investment property. As noted above, Mr. Cox has agreed to forbear on his severance obligations of up to $620,000, until the earlier of January 15, 2009 and the closing of either an asset or stock sale.

At the closing of this financing, the Company will issue to the Investors warrants to acquire up to 19.9% of the Company's common stock at an exercise price of $.001 per share; of which, warrants to purchase up to 9.95% of the Company's common stock will immediately be exercisable, with the balance becoming exercisable in proportion to the remaining proceeds in the escrow being released to the Compa
'/>"/>

SOURCE QMed, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4

Related medicine news :

1. QMed, Inc. Announces the Termination of Its New Jersey Special Needs Plan
2. QMed, Inc. Receives NASDAQ Letter
3. QMed, Inc. Retains Lazard Middle Market
4. QMed, Inc. Reports Third Quarter Results
5. QMed, Inc. Extends Agreement & Receives $550,000 Performance Bonus
6. QMed, Inc. Comments on Estimated 3rd Quarter Results & Medical Expense Ratio; Sets 2008 Revenue Guidance for Medicare SNPs at $88-95 Million
7. XTL Biopharmaceuticals Announces Financial Results for the Year Ended December 31, 2007
8. Perrigo Company Announces Launch of Clobetasol Propionate Foam
9. Batesville Holdings Announces New Board of Directors in Preparation for March 31 Spin-Off from Hillenbrand Industries
10. ReBuilder Medical Technologies, Inc. Announces Revolutionary Electronic Zapper Said to Destroy Molluscum Contagiosum Pathogen
11. Lifeway Foods Announces Expanded Distribution and Growing Success of ProBugs(TM) Organic Kefir for Kids
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/17/2014)... NY (PRWEB) December 17, 2014 Project ... who recently brought videos of MIT economist and Obamacare ... best-selling author James O’Keefe conducted the interview, which is ... stated that there was intentional mislabeling in the Affordable ... in the bill: A two-hundred-and-fifty billion dollar per year ...
(Date:12/17/2014)... 2014 (HealthDay News) -- Greater participation in music classes ... Researchers followed kids in the nonprofit Harmony Project, ... in Los Angeles. Over two years, children who ... how the brain processes speech and reading, compared to ... benefits of active participation in music classes occurred in ...
(Date:12/15/2014)... Cancer researchers have just published an important new ... malignant pleural mesothelioma. Surviving Mesothelioma has just posted an ... here to read it now. , Doctors at ... New York’s Langone Medical Center performed complete genetic analyses ... an effort to pinpoint the genes that are most ...
(Date:12/15/2014)... (PRWEB) December 15, 2014 OutMarket ... today released “ Social Media Cheat Sheets ,” a ... community that drives results on the top ten social ... program. It helps drive awareness, engagement, and customer service. ... marketers to make an impact on new networks and ...
(Date:12/15/2014)... December 15, 2014 Kathy McAfee, America's ... Women World Awards in the category of Best Blog ... award for her weekly career blog Networking Ahead ... to help professionals elevate their talent and influence through ... named after her book Networking Ahead for Business, has ...
Breaking Medicine News(10 mins):Health News:Project Veritas: James O’Keefe Interviews the Man Who Discovered Jonathan Gruber Videos 2Health News:Music Classes Boost Language Skills, Study Says 2Health News:New Study Reveals Genetic Mutations That May Trigger Mesothelioma, According to Surviving Mesothelioma 2Health News:OutMarket Releases Cheat Sheets for Social Media Marketing 2Health News:OutMarket Releases Cheat Sheets for Social Media Marketing 3Health News:Kathy McAfee, America’s Marketing Motivator, Wins Best Blog from Women World Awards 2
... Recommend Photochromic Lenses to Protect Eyes This Summer and ... Throughout the ... the dangers of extended sun exposure and its effects on the skin, ... survey conducted by,the New England Eye Institute and Transitions Optical found that ...
... to vote soon on legislation that would cut ... WASHINGTON, July 9 Seniors across Texas ... Advantage program in,legislation being considered in the U.S. ... from the Medicare Advantage program in Texas,alone and ...
... Additional Research Warranted on Impact of Medicare Modernization ... Shows Possibility of,Longer Wait Times for Patients in ... to a new study,released today in the July ... (JAMA), cancer patients experienced no major changes in ...
... 2006, a pneumococcal vaccine (Prevenar) was introduced in the ... experiences have been published in the journal Vaccine ... pneumococcal infections among young children. , Pneumococcus is ... young children, e.g. meningitis, blood poisoning and pneumonia. Most ...
... lumpectomy linked to depression, fear, study finds , , WEDNESDAY, ... who opt for breast-conserving cancer surgery say they now ... their quality of life, a new study says. , ... were twice as likely to fear their cancer returning ...
... Razadyne ER,from Tier 2 to Tier 3 When Generic Razadyne ... ... WALTHAM, Mass., July 9 Decision Resources, one of ... finds that the generic availability of,Shire/Janssen/Ortho McNeil,s Razadyne (galantamine) in ...
Cached Medicine News:Health News:Study Confirms Americans Place Their Vision at Risk Year Round 2Health News:Study Confirms Americans Place Their Vision at Risk Year Round 3Health News:Texas Seniors Speak Out Against Medicare Advantage Cuts 2Health News:Global Access Project (GAP) Study Examining Patients' Access to Cancer Care Featured in the Journal of the American Medical Association (JAMA) 2Health News:Vaccinated infants well-protected against severe pneumococcal infection in Norway 2Health News:Breast-Conserving Surgery Leaves Many Cancer Patients Disappointed 2Health News:Primary Care Physicians' Prescriptions of Aricept for Alzheimer's Disease Will Drop by 20 Percent Following the Availability of Generic Razadyne in December 2008 2Health News:Primary Care Physicians' Prescriptions of Aricept for Alzheimer's Disease Will Drop by 20 Percent Following the Availability of Generic Razadyne in December 2008 3
(Date:12/15/2014)... BOSTON , December 15, 2014 ... and development company, is pleased to announce the grant ... States relating to its GPCR-focused drug discovery ... significantly strengthens the global patent estate covering Heptares, technologies ... The suite of patents recently granted by the US ...
(Date:12/13/2014)... , Dec. 12, 2014  Radiologists can ... to images, to their referring physicians, electronic health ... using carefully selected technology.  That ... Data Systems Corporation (ADS) at the recent Radiology ... The transmitting of radiology reports in this manner ...
(Date:12/13/2014)... PLAINSBORO, N.J. and INDIANAPOLIS , ... diabetes care, and Chip Ganassi Racing Teams (CGRT), today announced ... Nordisk as the primary sponsor of the No. 83 Novo ... in the Verizon IndyCar Series. Kimball, ... first and only licensed driver with diabetes in the history ...
Breaking Medicine Technology:Heptares Extends Global Patent Protection for GPCR-Focused Drug Discovery Platform With Grant of Core Patents in the United States 2Advanced Data Systems Presents on Interface-Free EHR Communications at RSNA's 2014 Conference: Streamlining Communication of Reports and Images to Referring Physicians 2Advanced Data Systems Presents on Interface-Free EHR Communications at RSNA's 2014 Conference: Streamlining Communication of Reports and Images to Referring Physicians 3Novo Nordisk and Chip Ganassi Racing Teams Announce Multi-Year Sponsorship Agreement for Verizon IndyCar Series 2Novo Nordisk and Chip Ganassi Racing Teams Announce Multi-Year Sponsorship Agreement for Verizon IndyCar Series 3Novo Nordisk and Chip Ganassi Racing Teams Announce Multi-Year Sponsorship Agreement for Verizon IndyCar Series 4Novo Nordisk and Chip Ganassi Racing Teams Announce Multi-Year Sponsorship Agreement for Verizon IndyCar Series 5Novo Nordisk and Chip Ganassi Racing Teams Announce Multi-Year Sponsorship Agreement for Verizon IndyCar Series 6Novo Nordisk and Chip Ganassi Racing Teams Announce Multi-Year Sponsorship Agreement for Verizon IndyCar Series 7
... LTD. announced on August 20 that its collaborative study on ... Cholera and Enteric Diseases in Kolkata, India, showed that daily ... diarrhea in young children. An unprecedented large-scale study, ... Kolkata, was conducted. As a result, "Yakult" was shown to ...
... inflammation plays a surprising role reducing the level of infection caused ... patients and others with weakened immune systems. The drug, ... by enhancing the body,s ability to chew them up instead of ... to provoke an onslaught of harmful inflammation. Besides opening ...
Cached Medicine Technology:Daily Intake of 'Yakult' Is Efficacious in Reducing Incidence of Acute Diarrhea in Young Children 2Daily Intake of 'Yakult' Is Efficacious in Reducing Incidence of Acute Diarrhea in Young Children 3Old Drug Holds Promise Against Opportunistic Lung Bug 2Old Drug Holds Promise Against Opportunistic Lung Bug 3Old Drug Holds Promise Against Opportunistic Lung Bug 4
... Hemoglobin Test Systems provide ... quantitative hemoglobin results with ... a large hematology analyzer. ... of either the B-Hemoglobin ...
... The HemoPoint H2 Hemoglobin Measurement ... determination of hemoglobin in arterial, venous, ... infants, and children in a professional ... number 3010-100 is indicated for use ...
2 tests on one meter. Glucose test for immediate glucose levels. GlucoProtein (Fructosamine) for overall control, average over prior 2-3 weeks. The Duet is the only hand held instrument to perform th...
... DCL's ImmunoDip Test For Microalbuminuria. ... urine,sample. The patented housing will draw,the precise ... , Self-Timing: ,The ImmunoDip will run ... Easy to Read Colors: ,The resulting color ...
Medicine Products: