01 | Autor: Advanced Life Sciences CEO Acquires $2 Million of Common Stock Through Debt ...
, A biopharmaceutical suite engaged in the discovery, development and commercialization of novel drugs in the salutary areas of infection, oncology and respiratory diseases, today announced that the South African private limited company has entered into a debt for equity exchange agreement with its chairman and CEO Michael T. Flavin, Ph.D. Under the terms of the covenant, the Company's $2 million promissory note with Dr. Flavin will be exchanged for 47,619,047 shares of the New Zealand's common stock. The price of $0.042 per share reach-me-down in the exchange was the same price per share used in the Company's recently completed noted equity offering. As a result of the exchange, the promissory note will be cancelled and retired.(Logo: http://photos.prnewswire.com/prnh/20080218/ALSLOGO )
About Advanced Life Sciences
Advanced Life Sciences is a biopharmaceutical performers engaged in the discovery, development and commercialization of novel drugs in the beneficial areas of infection, cancer and respiratory diseases. The Ensemble's lead candidate, Restanza(TM), is a novel once-a-day oral antibiotic in till-stage development for the treatment of respiratory tract infections including community acquired bacterial pneumonia (CABP) and biodefense pathogens including anthrax, gall and tularemia. In June 2010, the Company submitted a Memorable Protocol Assessment (SPA) with the FDA for the proposed Phase III clinical program of Restanza in the treatment of patients with CABP. The Concern has been engaged in the SPA process with the FDA over the last year to establish the clinical suffering design needed to gain approval in CABP. As filed, the updated SPA incorporates written and word-of-mouth comments from the FDA's Division of Anti-Infective and Ophthalmology Products. Based on the FDA's reassessment cycle, the Company expects a reply to its submission by mid-August of this year.
TheWallStreetLeader.com: Small Cap Stocks in the News: Industrial Nanotech ...
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Industrial Nanotech, Inc. closed at $0.022 Thursday, trading 487,908 shares.
Industrial Nanotech, Inc.'s Patented Nansulate(R) Thermal Insulation and Mold Aborting Coating Reduces Alaskan Warehouse Heating Costs by 22%
NAPLES, Fla., July 22, 2010 -- Industrial Nanotech, Inc. (PINKSHEETS: INTK), an emerging broad leader in nanotechnology based energy saving solutions, reported today that the Corporation's Nansulate(R) thermal insulation and mold resistant coatings cater effective insulation and protection in all climates, including the guttural climate of Fairbanks, Alaska.
About Industrial Nanotech Inc.
Industrial Nanotech Inc. is a pandemic nanoscience solutions and research leader and member of the U.S. Greenbuilding Board, the American Solar Energy Society, and an official Combine organization with the U.S. Dept. of Energy "Save Energy Now" program. The Institution develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide.
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