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Geting out of BK soon.Just moved from pink sheets to OTC BB.Float is very thin because majority holder helped company exit bk.It will be big runner.Yesterday 130 % up.Do your own dd.
Posts: 443 | From: st.louis | Registered: Dec 2003
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Naturade to Release New Products at the Nutritional Products Expo West in Anaheim, CA Wednesday March 12, 8:05 am ET
ANAHEIM, CA--(MARKET WIRE)--Mar 12, 2008 -- Naturade, Inc. (OTC BB:NRDCQ.OB - News) announced today that it will be unveiling a series of new product launches at the Nutritional Products Expo West in Anaheim, CA from March 14-16. Naturade will be located in Booth #1336. Naturade is a subsidiary of Redux Holdings (Other OTC:RDXH.PK - News). ADVERTISEMENT
Mr. Rick Robinette, Naturade's COO, commented, "I am looking forward to showing the industry some of the exciting new products that we will be revealing at the Nutritional Products Expo this week. Putting new and exciting products on the market is something that defines Naturade as an industry leader. The past couple of years have presented some challenges to meeting our new product goals; however, since being acquired by Redux Holdings and our subsequent restructuring, Naturade is once again operating as a profitable company. Now that we are operating at a profit, I am excited to have the ability to refocus some of our corporate efforts towards the research and development of leading nutritional products for which Naturade is well known. We will be located in Booth #1336 for those who might be interested in seeing what the excitement regarding our new products is all about."
About Naturade, Inc.
Founded in 1926, Naturade (www.naturade.com) is a leading marketer of scientifically supported natural products formulated to improve the health and well-being of consumers. Naturade's products can be found in health food stores and natural foods supermarkets as well as supermarkets, mass merchandisers, club stores and drug stores.
About Redux Holdings, Inc.
Redux Holdings (www.reduxholdings.com) acquires the assets of companies and isolates, recombines and manages those assets to increase their value and develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in identifying, analyzing and stabilizing these business opportunities and effecting efficient turnaround and asset monetization.
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Press Release Source: Redux Holdings, Inc.; Naturade, Inc.
Naturade Enters Memorandum of Understanding to Acquire Assets and Subsidiaries of Redux Holdings Monday March 24, 1:51 pm ET
ANAHEIM, CA--(MARKET WIRE)--Mar 24, 2008 -- Naturade, Inc. (OTC BB:NRDCQ.OB - News) announced today that in the final component of its 18-month restructuring it has entered into a Memorandum of Understanding via which Naturade will acquire all of the subsidiary companies and assets of Redux Holdings, Inc. (Other OTC:RDXH.PK - News). Redux, who currently owns 92.1% of the outstanding shares in Naturade, approved the transaction. ADVERTISEMENT
Mr. Adam Michelin, Naturade's CEO, is scheduled to be featured in an audio interview on CEO Cast (www.ceocast.com) this afternoon where he will provide further details on the transaction.
Mr. Michelin commented, "We recently announced that Naturade approved a 1 for 6 reverse stock split, which better aligned the Company's share structure to its balance sheet. Today, as the final piece of the corporate restructuring process of Naturade, we are announcing that we are selling the assets of Redux Holdings, a non-reporting company whose shares trade on the Pink Sheets, into the OTCBB trading and fully reporting corporate structure of Naturade. The parties are currently preparing a definitive Asset Purchase Agreement and related documents for the transaction, which I expect to close not later than April 30, 2008."
All analysts, media, institutional and investor questions should be directed to First Capital Investors at 321-221-2910. Additional investor information, including an investor fact sheet, is available for download at www.firstcapitalinvestors.com/rdxh.html.
About Naturade, Inc.
Founded in 1926, Naturade (www.naturade.com) is a leading marketer of scientifically supported natural products formulated to improve the health and well-being of consumers. Naturade's products can be found in over 34,000 retail locations including: health food stores and natural foods supermarkets, as well as supermarkets, mass merchandisers, club stores and drug stores.
About Redux Holdings, Inc.
Redux Holdings (www.reduxholdings.com) acquires the assets of companies and isolates, recombines and manages those assets to increase their value and develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in identifying, analyzing and stabilizing these business opportunities and effecting efficient turnaround and asset monetization.
Posts: 443 | From: st.louis | Registered: Dec 2003
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Naturade Updates Shareholders Regarding 6 to 1 Reverse Stock Split and Redux Holdings Asset Acquisition Wednesday March 26, 4:00 pm ET
ANAHEIM, CA--(MARKET WIRE)--Mar 26, 2008 -- Naturade, Inc. (OTC BB:NRDCQ.OB - News) announced today that the Company's Board of Directors has approved a change to the effective date for determining shareholders of record regarding its previously announced 6 to 1 reverse stock split to better align with the closing of the recently announced Memorandum of Understanding to purchase the assets of Redux Holdings, Inc. (Other OTC:RDXH.PK - News). The reverse stock split will remain 6 to 1 and the exchange will remain a mandatory exchange payable upon surrender. ADVERTISEMENT
The effective date to determine shareholders of record was originally scheduled for March 14, 2008, although the stock has continued to trade on a pre-reverse stock split basis, due to technical difficulties in effecting the reverse stock split. The effective date will be moved to a future date to reduce expenses and confusion. Rather than complete the 6 to 1 reverse stock split immediately, followed by the subsequent acquisition of the Redux Holdings, Inc. ("Redux") assets and subsidiaries, Naturade will combine the effective date of the reverse stock split to occur in conjunction with the closing of the transaction between Naturade and Redux, subject to regulatory approval. The change will result in lower costs to both companies as the process will be simplified from two separate steps into a single transaction and will reduce confusion by avoiding the need to change CUSIP numbers twice.
The new effective date for determining shareholders of record is expected to be the close of business on Friday, April 25, 2008; however the Company will confirm the actual date by press release and a filing with the SEC ("Revised Effective Date"). Naturade will continue to trade on a pre-split basis under its current trading symbol until the close of trading on the Revised Effective Date. On the first business day following the Revised Effective Date, it is expected that the stock will begin trading under a new symbol to be assigned by NASDAQ.
As previously announced, Naturade signed a nonbinding Memorandum of Understanding with Redux Holdings, Inc., the Company's controlling shareholder, to enter into a definitive agreement to purchase most of the assets and all of the liabilities of Redux for a yet to be determined amount of the Company's restricted common shares. The transaction will be treated as a corporate reorganization as defined by Section 368 of the Internal Revenue Code. The Company expects to have the definitive agreement executed and the closing occur concurrent with the Revised Effective Date.
It is expected that on the first business day following the Revised Effective Date, new trading symbols will be assigned to both Naturade and Redux; and Naturade will be re-named Redux Holdings, Inc. To permit the corporate name of Naturade to be changed to Redux Holdings, the previous Redux Holdings will be re-named MSR Holdings, Inc.
All analysts, media, institutional and investor questions should be directed to First Capital Investors at 321-221-2910. Additional investor information, including an investor fact sheet, is available for download at www.firstcapitalinvestors.com/rdxh.html.
About Naturade, Inc.
Founded in 1926, Naturade (www.naturade.com) is a leading marketer of scientifically supported natural products formulated to improve the health and well-being of consumers. Naturade's products can be found in over 34,000 retail locations including: health food stores and natural foods supermarkets, as well as supermarkets, mass merchandisers, club stores and drug stores.
About Redux Holdings, Inc.
Redux Holdings (www.reduxholdings.com) acquires the assets of companies and isolates, recombines and manages those assets to increase their value and develop profitable strategic options. The Company is distinguished by the extensive experience of its personnel in identifying, analyzing and stabilizing these business opportunities and effecting efficient turnaround and asset monetization.
Posts: 443 | From: st.louis | Registered: Dec 2003
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So Naturade is going to acquire all the assets and operations of Redux?
But Redux owns Naturade ... what is the purpose of this deal?
Redux has about 32.6 million total shares outstanding. Naturade, once the 1-for-6 reverse split is complete, will have about 32.8 million total shares outstanding. Redux owns about 30.2 of the 32.8 million shares in Naturade. When the assets go over to Naturade, Naturade will give shares of restricted stock to Redux as compensation. Once the restriction can be lifted from those shares (I expect it will be about 6 months), they will be distributed to Redux shareholders. Once the deal is complete, Naturade will be renamed "Redux Holdings" and Redux will become something else.
In a nutshell here is what I perceive as happening. For each share of RDXH that we own, we will receive 0.9251 shares of NRDCQ when it is distributed. Additionally, we will continue to own the existing shares of RDXH (and some additional shares of NRDCQ that are held there). I expect that NRDCQ will become competively priced with the current price of RDXH, split adjusted. Once they are roughly equivalents, they should theoretically "trade together" until the assets are over and the shares have been distributed.
Once all of the assets are distributed, the only thing left in Redux will be the NRDCQ restricted shares. Once those shares are distributed in about 6 months (my guess) then the current Redux corporate structure could be used for another company to become public as it will no longer have any assets.
Why do all of this? Well, here is my thoughts. Naturade has just been through bankruptcy and everything there is looking very bright as they have a cleaned up set of financials and they are profitable. Additionally, Naturade is a reporting company trading on the OTCBB. This method provides a swift move for Redux to become a reporting company to the SEC and get all of the corporate assets trading under a single public platform.
For me, as soon as NRDCQ (split adjusted) is within 15% of the value of RDXH, I like RDXH as the investment. Investors in RDXH will receive 0.9251 shares of NRDCQ, with some additional shares to follow when the restriction is lifted. Additionally, it provides a bit of "free diversification" opportunity as the remainder shares of RDXH will most likely be used in a future deal once the NRDCQ restricted shares have been distributed.
I am glad to see that Naturade is doing well. I am also glad to see that Redux Holdings is back on the warpath for acquistions. When I listen to Adam Michelin's interview at CEO Cast (March 24, 2008) I get the idea that Adam is working on some other deals.
I handle IR and Capital Markets Advisory issues for Redux Holdings and they recently authorized an updated Investor Brochure. In this document, Adam discusses a new acquistion target identified only as "Target R". This future component of Redux nearly doubles the top line revenue figure and is right in line of where Adam has historically called his "sweet spot" for deal flow ... companies with revenues in the $30-$50 million range.
Should be interesting to see what happens here as new investors become aware of these stocks. In my opinion, things are certainly pointing in the right direction.
DISCLOSURE: I am a large holder of Redux stock as I assisted Redux in becoming a public entity back in 2006. I continue to work with the Company on IR and Capital Markets Advisory issues and receive compensation for my services.
Posts: 443 | From: st.louis | Registered: Dec 2003
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