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inergetics inc (NRTI) Snapshot

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03/19/14 - $0.34
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12/31/14 - $0.0082
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inergetics inc (NRTI) Details

Inergetics, Inc., through its subsidiary, Millennium Biotechnologies, Inc., is engaged in the research, development, and marketing of specialized nutritional supplements for various medical conditions and for athletes seeking enhanced recovery in the United States. The company’s product line Surgex, a nutritional sports formula for athletes who suffer from symptoms, such as fatigue, lean muscle loss, lactic acid buildup, oxidative stress, and stressed immune systems; and Martha Stewart Essentials, a line of whole-food based supplements primarily for women’s multivitamin, hair, skin and nails, digestive health, graceful aging, menopause support, and bone support. It also provides Bikini Ready, a thermogenic supplement; Bikini Ready Cleanse, a multi component formula for weight loss and detox; and Bikini Ready Fashion Multi, a vitamin formula, as well as SlimTrim weight loss formula. The company was formerly known as Millennium Biotechnologies Group, Inc. and changed its name to Inergetics, Inc. in March 2010. Inergetics, Inc. was founded in 1967 and is headquartered in Newark, New Jersey.

12 Employees
Last Reported Date: 09/11/14
Founded in 1967

inergetics inc (NRTI) Top Compensated Officers

Chairman, Chief Executive Officer, Chief Fina...
Total Annual Compensation: $150.0K
Compensation as of Fiscal Year 2013.

inergetics inc (NRTI) Key Developments

Inergetics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Inergetics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2014. Total revenues generated from the sales of Surgex(R), Bikini Ready(R), SlimTrim and Martha Stewart(TM) Essentials for the quarter ended September 30, 2014 totaled $430,242, an increase of 112% from the quarter ended September 30, 2013. After research and development cost and selling, general and administrative expenses of $1,304,661, an operating loss of $1,234,586 was realized for the quarter. Operating losses decreased $1,005,567 or 45% compared to the third quarter of 2013 operating loss of $2,240,153. The majority of the decrease in operating loss was due to the decrease in promotional costs in support of the launch of the Martha Stewart line from the prior year in the approximate amount of $843,000. The net result for the quarter ended September 30, 2014 was a loss of $4,877,623 or $0.05 per share, which included a preferred dividend on the Series G stock in the amount of $459,280, compared to a loss of $3,058,571 or $0.05 per share for the third quarter of 2013. The net loss for the third quarter of 2014 increased by $1,819,052 or 59% as compared to the third quarter of 2013, primarily due to an increase in selling, general and administrative expenses and gain on fair valuation of derivatives. For the nine-month period ending September 30, 2014, the company continued to expand market and sales penetration, yielding a 518% increase in sales revenue over the same period last year and achieving gross margins of 28% compared to a negative gross margin for the nine months ending September 30, 2013.

Inergetics, Inc. Announces Executive Changes

On October 28, 2014, Carl Germano resigned as a Director and Executive Officer of Inergetics, Inc. On October 30, 2014, the Company's Board of Directors appointed James Kras a Director of the Company to fill the vacancy resulting from Mr. Germano's resignation.

Scientific/Medical Advisory Board of Inergetics, Inc. Enters Final Development Phase of Proprietary Line of Natural Cannabidiol

Inergetics, Inc. announced that it will convene a meeting of its Scientific/Medical Advisory Board on November 20, 2014 in San Francisco/Oakland, California. The advisory board is responsible for guiding the formulation of the proprietary line of natural Cannabidiol (CBD)-based nutritional supplements that the company is planning to bring to market next year. The meeting is being convened by Inergetics' Chief Science Officer, Carl Germano, RD, CNS, CDN, and will feature the five members of the advisory board: Dr. Justin Fischedick, Dr. Joseph McSherry, Dr. Michelle Sexton, Dr. Yu Shao and Dr. Mark Wallace. Additional participants will include Inergetics CEO Mike James and CMO Jim Kras.


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