EFSF filed its 10Q quarterly financial statement on Friday, and the stock basically reflects the trailing numbers.
The top line was an anemic $200k, about half the same quarter a year ago. It’s clear the market has been telling us what the company has not- that there move to direct marketing for its flagship products has been a total failure.
I don’t know if they abandoned the whole thing early in the game, or if they pursued it into the fall. The last we heard, they were going to pursue radio as a direct marketing strategy. In short, it’s evident the program failed.
We have also heard nothing of the DR campaign for PurEffect to have been launched by CK41. Another major disappointment for long suffering shareholders.
There are two pluses- 1. They are still holding on to their valuable cash in a climate where cash has become a very scarce commodity. They are burning about $150,000 per quarter- with $1.2 million in cash, they can survive another 8 quarters without a capital injection.
The other positive is the stock. It has started behaving as if there could be a change in the wind. Here’s the chart:
For the second time in as many months, the stock is trying to get through the $.05 level. I don’t know if this means anything, but it is behaving as if someone wants to start buying, and no one is selling. I anyone who wanted to sell this stock for a tax loss has done so.
I am still rating the stock a hold simply because their cash gives them some time and flexibility to figure out a way to move things forward. I’ll have it when they do.
Comments and questions are welcome.
In addition to being a failure at marketing so far, this company’s management is also failing at communicating with the shareholders. I guess they simply have no respect or consideration for the shareholders, or even for the SEC — they have yet to hold a shareholders’ general meeting.
Editor: Yes- I’m afraid they have taken to hiding like a turtle in its shell. Hopefully, there is some major change afoot. It can’t go on like it is. If there’s no change soon, I’ll have to move on and abandon the idea.
I just checked, and PurEffect is still on the CK41 website, so maybe that’s not a dead deal yet, but my guess is that it’s probably at least on life support.
Editor: At this point, there is no concrete evidence to believe it will ever happen with CK41. I wish I could report differently.
How often do you try to contact the company and why do you think they won’t get back to you?
Editor: I haven’t tried to too much in the last couple of months. Recently, I heard from them indirectly for the first time in a while. There was an indication there might be some sort of change in the works, but I have no idea what form it might take. There needs to be change, as they are simply losing a little money with a top line going the wrong way and no publicly stated plan to change course.
Larry: Just want to wish you and yours happy holidays!
Editor: I’ll be celebrating New Year’s eve- not celebrating the New Year as much as the end of the old year. To you as well.
You said you’ve heard from the company indirectly. And an indication there may be some kind of change. Who did you speak with and what kind of change was indicated? Will this change be good or bad?
For investors, is your company still considering this a hold going into 2009?
Thanks in advance.
Editor: I had some indications there would be some change. If something doesn’t happen, I will drop it soon. No reason to hang in there when there are other companies that are delivering real progress.
I’ve owned this company for a long time.At one point were they working on some procees in Thailand to prevent bird flu.In ligth of the current news this would be positive if it worked.
Editor: One can only hope. Clearly, something has to change.
Tried to go to eFood’s website http://www.e-foodsafety.com and it is down. Do you know if it is down for the count? Holding right now at a .16 average price. Suggestions on this one?
Editor: I don’t think the web site is meaningful. It’s not like the company is going out of business. Relative to their burn rate, they have well over a year and perhaps as much as two years of capital left. However, there is no growth, they are burning cash, and something needs to change. I have been led to believe there will be some major change coming. If nothing happens in the next couple of weeks, I’m just going to drop this and move on. There are much better fish to fry out there in the global ocean.
Can you clarify the company’s desire for you to be continuing to cover them? One would thing, if they had positive things in the works, they would welcome the coverage. I can’t get a handle on your relationship with them, however. Are they hostile toward you? Dismissive? Not return calls? If any of this is the case, talk about stupid and unprofessional. No wonder they’re going nowhere.
Editor: You have summarized it perfectly. It has been implied to me that some major change in coming. Without that change within the next week or two, I will simply drop this one and move on. There is no point, and there are a lot better companies out there to follow.
I — we, the shareholders — implore you to give us your take on this merger. Now we’re in the tattoo removal business??? What in tarnation about the other products???
Editor: Well, they get the EFSF portfolio. The big question is can they do anything with it?
Thoughts on this strange and unexpected press release this morning?
Editor: I think it’s a positive, because change is needed at this place. It wasn’t unexpected. I knew something would happen. Good by old management. I’ll have more information at a future time.
Well we got the change you were talking about and the new CEO is the guy to get the products sold. Look at his resume:Martin Schmeig has over 20 years of experience launching and building businesses in the medical device, biotechnology and life sciences industries. As CEO of Freedom2, he drives all aspects of company development.
Prior to Freedom2, Martin repeatedly transitioned companies with innovative technologies to successful product based enterprises, while increasing valuation through his proven financial management, negotiation skills and aggressive fundraising capabilities. Working with companies such as Sirna Therapeutics, Advanced Bionics and Cytometrics, he raised capital in excess of $55 million for one enterprise, raised the market capitalization of another from $0 to $200 million, and was the financial architect of a $4.2 billion sale of a third company to a Fortune 500 company.
Editor: Seems positive. Clearly, a step in the right direction. Let’s see where it goes.
Well, the major change has been announced. The company merged with another company most people are not familiar with and Patricia Gruden is retiring. I hope these new folks know more about marketing than the old management team.
Editor: Irv- it certainly can’t get much worse.
HI,
NEWS:
EFoodSafety.com, Inc. and Freedom2 Holdings, Inc. Merge
Wednesday 01/14/2009 12:20 PM ET – Worldstockwire
Related Companies
Symbol Last %Chg
EFSF 0.037 -5.13%
As of 1:07 PM ET 1/15/09
eFoodSafety.com, Inc. (OTCBB: EFSF) a leader in the research and development of nutraceutical products today announces that on January 12, 2009 it entered into a definitive share exchange agreement with Freedom2 Holdings, Inc., a worldwide skin care company known for its pioneering development of a permanent and safer, more easily removable tattoo ink.
In a stock for stock exchange, Freedom2′s former shareholders will gain a 20% ownership position in the newly combined entity. Martin Schmieg, the current president and CEO of Freedom2, Inc. will become the Chairman and CEO of eFoodSafety.com, Inc. The company will move its principal executive offices to Freedom2′s current corporate headquarters and manufacturing facility in Cherry Hill, NJ.
“This transaction with Freedom2, signals a new era of growth with a talented management team experienced in healthcare products, research, development, marketing, sales and finance. Freedom2′s highly anticipated consumer product Infinitink(TM), the more easily removable tattoo ink, positions us for strong future revenues,” said Patricia Gruden, retiring president, chairman and CEO of eFoodSafety.com, Inc.
“This merger offers investors and employees an opportunity to be part of a company aimed at satisfying the growing consumer demand for safer, well-tested alternatives and supplements to protect and enhance their health, beauty and well-being,” said Martin Schmieg, current president and CEO of Freedom2. “Beginning with the launch of Infinitink and the introduction of new products throughout the year, we look forward to a very busy, fruitful 2009.”
Until today, Freedom2 Holdings, Inc. was a privately-held, development stage company, while eFoodSafety.com, Inc. is a public company and files reports and other information with the SEC; its shares are quoted and traded from time to time on the over-the-counter bulletin board under the symbol “EFSF.” More investor and company information about eFoodSafety is included on the company’s current website http://www.efoodsafety.com. More background on Freedom2 can be found at its current website http://www.freedom2inc.com.
About eFoodSafety.com, Inc.
eFoodSafety is a leader in the research and development of nutraceutical products for a wide range of markets. The company’s focus is on developing, licensing and co-marketing unique, best-of-breed products that address the health needs of consumers worldwide.
About Freedom2 Holdings, Inc.
Freedom2, Inc. is a diversified skin products technology company serving the fast-growing body art, aesthetic, cosmetic and skin therapy markets worldwide. It is the first company to engineer and patent a permanent, but more easily removable ink for tattoos and permanent cosmetics.
Safe Harbor for Public Companies
Statements contained in this release that are not strictly historical are “forward-looking statements.” Such forward-looking statements are sometimes identified by words such as “intends,” “anticipates,” “believes,” “expects,” and “hopes.” The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Company’s actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include, but are not limited to, demand for the Company’s products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the Company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Patricia Gruden
efoodsafety.com, Inc.
7702 East Doubletree Ranch Road
Suite 300
Scottsdale, AZ 85258
USA
Phone: 415-884-0348
Fax: 480-348-3999
Source: efoodsafety.com, Inc.
Note: The following press release was submitted by: efoodsafety.com, Inc., and World Stock Wire, Inc. is not liable for the contents of this press release.
Whats the scope on the deal with Freedom 2
Editor: Freedom 2 is apparently taking the company over. Welcome news, but not putting a charge in the stock yet.
EFSF has made this “Stocks to watch list”, but if you notice, in the EFSF write-up of products, Oraphyte isn’t in there. What’s your take on that?
http://www.tradingmarkets.com/.site/news/Stock%20News/2130177/
Editor: I can tell you that the new management is going to evaluate each product, determine its commercial viability, then either market it, sell it off, or drop it if it’s unsellable.
If I’m not mistaken, your one-year extension for coverage ends this Saturday Jan 19th. Are you going to extend (or are they going to request that you extend) for another year?
Editor: Not likely- however, it has nothing to do with any expiration dates. If you have followed me over the years, you will note I often drop them long before the coverage ends, and sometimes continuing covering long after the expiration. At this point, I’m just looking at a great many ideas that are global and far better equipped to grow and prosper.
I think caution should be employed when trying to decipher this merger, and when trying to assume it’s all great news. Yes, it couldn’t have gotten much worse and seemingly ANY change should be good. However, if Freedom2 were in such good shape, they probably wouldn’t be “needing” to take on another company. So that says something about Freedom’s instability and inability to move forward on their own. (Which suggests their tattoo removal ink should NOT be looked at as some kind of blockbuster.) The flip side of that, of course, is that, it suggests that EFSF has something (products / technologies) worth acquiring.
What do you think?
Editor: I’ve spoken with the CEO- it was an opportunity for them to acquire the public entity, raise a little cash, and have some other products they might market if they like them. This is far from an overnight fix, but in my view is a step in the right direction in the sense that the former management proved over two years they were incapable of selling their products.
Larry: I’m certainly not against the merger; I think everyone knew something had to happen. But, I’m wondering if this deal is legal? Isn’t there supposed to be a shareholder vote on something like?
Editor: I’m not a securities lawyer, so I’m not going to comment on the process. I’m sure they have lawyers who know how to get this done. The legality of it is not an issue. The effectiveness is. All I know is the company has proven it can’t sell its product with the current management. The new management is going to evaluate all the products and decide which ones to market, sell off, or simply drop.
New merger. New management. New conference call on Thursday. How about a little run? Let’s get to 10 cents for starters. What do you think?
Editor: I don’t think any sort of run is imminent, but I could easily be wrong. Certainly, there is nothing too negative about what is happening here.
You seem to have a bit of a bleak outlook for the company. When will you officially cease your coverage?
Editor: I don’t think it’s bleak at all. In fact, the company now has a chance. However, there are simply lots of better companies out there to cover. Most of them are outside the US right now as the consumer is nearly officially dead. I’ll probably finalize the involvement soon, but I’m not pessimistic on the opportunity to appreciate.
Nice upward movement today. Looks like the merger and the departure of the old management team is seen as a positive sign.
Editor: So far, the market likes it.
Did you listen to the conference call? The new CEO is very well spoken. I think longs should feel better about things. I am surprised you are going to stop coverage now, when they have finally (so it seems) gotten the right people in place.
Editor: As I said in my edition, I’ll keep it on there for the time being. However, as we start to emerge from this nasty bear market and into some sort of a better environment, I believe there are better companies, with real growth and far better balance sheets to cover. I have been biding my time just waiting to get into a slightly better market environment. This company is going to have to raise more money, and the capital structure is highly polluted.
Why did you NOT post the conference call info on your blog? I sent it twice to your “editor” email …and posted here yesterday….don’t you think the people here would have like to hear the call “Live”?
Dan Brown
Editor: I sent out a full edition telling people exactly when and how to listen in. That gets far better distribution.
Press release today: SCOTTSDALE, Ariz., Jan. 26 /PRNewswire-FirstCall/ — eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF.OB – News), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced signing one year contracts with Arcand & Madison Public Relations and The Ruth Group (TRG).
Recently, eFoodSafety.com entered into a definitive agreement to merge with Freedom2 Holdings, Inc. The merger is on track to close on or before February 28, 2009.
Do you know anything about Arcand & Madison or the Ruth Group?
Finally, I hope you won’t completely drop the company and will at least comment on significant events, especially as they seems to be in a time of transition.
Editor: No, I know nothing about them whatsoever. However, the stock is trading pretty darn well, so that’s good. We’ll see where I go with it. As I have been saying, there are others with far less baggage.
Seems that you’re bailing — or considering bailing — at the precise time that the company is finally turning things around. Another great press release today. Someone predicted .10 – I think we’re getting it. You may want to stick around for this.
Editor: Just sent an edition on that very subject. Doing very nicely.
1day | 5day | 6mo | 1yr | 5yr
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Latest News Headlines for eFoodSafety.com Inc
EFoodSafety Enters Research Agreement with University of Minnesota to Test New Food-Grade Antiviral for Swine Influenza Virus
Thursday 01/29/2009 9:45 AM ET – WorldStockWire
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that they have signed a research agreement with the University of Minnesota to test Citroxin, an antiviral compound, for combating the Swine Influenza Virus in livestock.
EFoodSafety Enters Research Agreement with University of Minnesota to Test New Food-Grade Antiviral for Swine Influenza Virus
Thursday 01/29/2009 7:30 AM ET – PR Newswire
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that they have signed a research agreement with the University of Minnesota to test Citroxin, an antiviral compound, for combating the Swine Influenza Virus in livestock.
EFoodSafety.com Engages IridiumGroup to Develop New Brand Identity to Match Future Company Direction
Wednesday 01/28/2009 4:00 PM ET – WorldStockWire
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that it has engaged the IridiumGroup, a Madison Avenue firm, to create a new brand identity for the Company as they move toward the expected merger with Freedom2, Inc. The merger is on track to close on or before February 28, 2009.
EFoodSafety.com Engages IridiumGroup to Develop New Brand Identity to Match Future Company Direction
Wednesday 01/28/2009 3:43 PM ET – PR Newswire
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that it has engaged the IridiumGroup, a Madison Avenue firm, to create a new brand identity for the Company as they move toward the expected merger with Freedom2, Inc. The merger is on track to close on or before February 28, 2009.
EFoodSafety.com Selects Arcand & Madison as Public Relations Counsel and The Ruth Group as Investor Relations Counsel
Monday 01/26/2009 9:16 AM ET – PR Newswire
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF.OB), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced signing one year contracts with Arcand & Madison Public Relations and The Ruth Group (TRG).
Hi, Please post on blog also:
EFoodSafety.com Announces Investor Conference Call
32 minutes ago – Pr Newswire
Related Companies
Symbol Last %Chg
EFSF 0.10 7.53%
As of 9:30 AM ET 2/5/09
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF) announced today that its monthly investor conference call will be held on Tuesday, February 17, 2009 at 4:30 PM Eastern Time.
To participate in the call, please dial 1-877-407-4018 (U.S.) and 1-201-689-8471 (international). The call will also be webcast at:
http://viavid.net/dce.aspx?sid=00005D92
The conference call will be taped and available for replay from February 17, 2009 at 7:30 PM EST to February 24, 2009 at 11:59 PM EST. The replay number is 1-877-660-6853 (US) and 1-201-612-7415 (international). To listen to the replay, please provide the account code 3055 and conference ID number 312810.
About eFoodSafety.com, Inc.
eFood Safety is an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products. The company’s focus is on developing, licensing and commercialized healthcare products that address the health needs of consumers worldwide. More information about the company is available at: http://www.efoodsafety.com
About Freedom2 Holdings, Inc.
Freedom2, Inc. is a diversified skin products technology company serving the fast-growing body art, aesthetic, cosmetic and skin therapy markets worldwide. It is the first company to engineer and patent a permanent, but more easily removable ink for tattoos and permanent cosmetics.
Investor Relations Contacts:
Blair Barnes, CFO
Freedom2, Inc.
Ph: 856-354-0707 ext. 201
Email: blair@freedom2inc.com
Stephanie Carrington/Amy Glynn
The Ruth Group
Ph: 646-536-7017/7023
Email: scarrington@theruthgroup.com
Email: aglynn@theruthgroup.com
Press Contact:
Pat Arcand
Arcand & Madison
Ph: 617-576-7777
Email: pat@am-pr.com
SOURCE eFoodSafety.com, Inc.
http://www.efoodsafety.com
Thanks,
Dan
Hi , Please post on blog & send out…Thanks Dan
_________
EFoodSafety.com Restructures purEffect(TM) Marketing Agreement with CK41
73 minutes ago – Pr Newswire
Related Companies
Symbol Last %Chg
EFSF 0.075 -6.25%
As of 10:58 AM ET 2/12/09
eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that it has restructured its Marketing Agreement with Charlston Kentrist 41 Direct, Inc. (“CK41″), the Company’s joint venture marketing partner for purEffectTM, a four-step acne treatment system.
eFoodSafety.com believes that a more marketable financial arrangement and greater collaborative effort will enable CK41 to achieve its business financing goals and execute its product marketing plans. Under the terms of the restructuring, eFoodSafety.com will transfer all of its rights to purEffectTM to CK41 for an approximate five percent (5%) equity stake in CK41 with three year warrant rights to purchase up to an additional five percent (5%) equity stake based on the current fully diluted ownership of CK41. Additionally, eFoodSafety.com will receive a two percent (2%) royalty on worldwide purEffectTM adjusted gross sales. The restructured agreement also sets certain performance milestones for CK41 in the launch and marketing of purEffectTM. eFoodSafety.com will have one seat on the CK41 board of directors.
Martin Schmieg, current president and CEO of Freedom2, Inc. and future Chairman and CEO of eFoodSafety.com, commented, “Collectively, eFoodSafety and CK41 can position purEffectTM to reach its market potential in the all-in-one acne treatment solutions market. By pooling our financial and marketing resources, we can overcome the obstacles that have heretofore kept purEffectTM from the market. CK41′s business plans are aggressive and rightly so in a market that demands performance and differentiation in order to gain market share. Both CK41 and eFoodSafety are committed to the success of purEffectTM. As such, we plan to do everything possible to help CK41 bring this product to market.”
eFoodSafety.com will provide further details on the restructured Marketing Agreement on its monthly investor conference call, scheduled for Tuesday, February 17th at 4:30 p.m. Eastern time.
About eFoodSafety.com, Inc.
eFoodSafety is an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products. The company’s focus is on developing, licensing and commercialized healthcare products that address the health needs of consumers worldwide.
About CK41 Direct, Inc.
CK41 Direct, Inc. is a leading producer of direct response infomercial campaigns. Combining 50 years of expertise in network television and direct marketing know-how, the principals and directors of CK41 learned the direct response TV industry from the ground up. This experience has taught CK41 how both conventional and unconventional marketing strategies can excel a direct response television campaign.
Safe Harbor for Public Companies
Statements contained in this release that are not strictly historical are “forward-looking statements.” Such forward-looking statements are sometimes identified by words such as “intends,” “anticipates,” “believes,” “expects,” and “hopes.” The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Company’s actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include, but are not limited to, demand for the Company’s products and services, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the Company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Contacts: Investors:
Blair Barnes, CFO Stephanie Carrington/Amy Glynn
Freedom2, Inc. The Ruth Group
Ph: 856-354-0707 ext. 201 646-536-7017/7023
blair@freedom2inc.com scarrington@theruthgroup.com
aglynn@theruthgroup.com
Press:
Pat Arcand
Arcand & Madison Public Relations
Ph: 617-576-7777
pat@am-pr.com
SOURCE eFoodSafety.com, Inc.
http://www.efoodsafety.com
“SCOTTSDALE, Ariz., Feb. 12 /PRNewswire-FirstCall/ — eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF), an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, today announced that it has restructured its Marketing Agreement with Charlston Kentrist 41 Direct, Inc. (“CK41″), the Company’s joint venture marketing partner for purEffectTM, a four-step acne treatment system.
“eFoodSafety.com believes that a more marketable financial arrangement and greater collaborative effort will enable CK41 to achieve its business financing goals and execute its product marketing plans. Under the terms of the restructuring, eFoodSafety.com will transfer all of its rights to purEffectTM to CK41 for an approximate five percent (5%) equity stake in CK41 with three year warrant rights to purchase up to an additional five percent (5%) equity stake based on the current fully diluted ownership of CK41. Additionally, eFoodSafety.com will receive a two percent (2%) royalty on worldwide purEffectTM adjusted gross sales. The restructured agreement also sets certain performance milestones for CK41 in the launch and marketing of purEffectTM. eFoodSafety.com will have one seat on the CK41 board of directors. ”
Don’t know if this will be a boost or not, but at least the new management is taking the company in a new direction.
Editor: I agree- they are unlocking the corporate grid lock here. It doesn’t mean they are growing yet, buy I hope so.
Could you believe it insider buying from the new CEO. Whats your thoughts
Editor: I think it’s great. What else can you say.100,000 shares is more symbolic than anything. It’s only $6,000. However, it’s intended to be an endorsement of the future of the company, and there’s no way it’s anything but a positive.
Did the merger close? Do you still talk with the company? Im looking to buy shares again under .05. Looking for at least a double again from here.
Editor: According to the SEC filings the merger did close. Therefore, it’s a new day. Wish I could predict how the stock is going to do. Certainly, the change at the top is welcome. I think you could see a double if you’re patient. Don’t forget to sell when you get it.
I assume you’ve seen this, but in case you haven’t:
CHERRY HILL, N.J., March 18 /PRNewswire-FirstCall/ — eFoodSafety.com, Inc. (OTC Bulletin Board: EFSF.OB – News), an emerging healthcare consumer products company with a portfolio of aesthetic, dermatology, environmental and nutraceutical products, today announced that it has changed its name from eFoodSafety.com, Inc. to Nuvilex, Inc. The Company is also announcing its expanded management team and Board of Directors. Nuvilex will begin trading under its new stock ticker symbol, OTC Bulletin Board: NVLX.OB, as of the market open on March 18, 2009.
Nuvilex better defines the Company and its mission. The name is a combination of several important ideas: New, Vitality and Excellence. The Board of Directors, along with Management, is committed to a new corporate vision, strategy, performance based execution and drive towards profitability. Vitality describes the energy, excitement and good health our products will bring to our customers’ lives. Excellence is our commitment to the high standards of care we will deliver to our valued customers, employees, the communities we live in and our shareholders.
Martin Schmieg, Chairman and Chief Executive Officer commented, “Since announcing the merger between eFoodSafety.com and Freedom2, we have talked openly about our vision for the future of the now merged company. We have taken the time to review and understand the performance and value of our technology platforms, product pipelines and marketing programs. From this review, we have provided general financial guidance for the 2010 fiscal year, which ends April 30, 2010. We have engaged advertising, branding, communications and marketing experts to look at the Company and its product lines to improve their visibility, revenue performance and future profitability. All of these actions have been a buildup to where we are today. Today, we are a new company – Nuvilex. We are pleased and excited to announce our new name, as well as our newly assembled management team and Board of Directors.”
The Nuvilex management team consists of: Martin Schmieg, Chairman and Chief Executive Officer; Blair Barnes, Senior Vice President and Chief Financial Officer; Robert Bowker, President of Knock-Out Technologies, Ltd.; Richard Goldfarb, M.D., F.A.C.S., President of MedElite, Inc.; Christine Solari, Senior Vice President of Research, Development and Manufacturing; Peter Morello, Ph.D, Director of Research, Steven Kushner, Ph.D, Nutritional Consultant and Ron Kennedy, Controller. Management bios can be found on the Company’s website at http://www.nuvilex.com.
Mr. Schmieg stated, “In combining the management teams of eFoodSafety and Freedom2, we have assembled an outstanding team of people with a deep level of expertise across many disciplines – strategy, research and development, medical, operations, business development, marketing, sales and finance. The team’s experience and talent will play a critical role in our growth as we seek to build a successful and profitable company.”
Martin Schmieg, Chairman, will lead Nuvilex’ Board of Directors which will include, from eFoodSafety.com, Robert Bowker, Richard M. Goldfarb, M.D., F.A.C.S., and Timothy Matula. Robert Creeden, Managing Director of the Partner’s Innovation Fund, will join, with Blair Barnes, Chief Financial Officer, to round out the current Board. Nuvilex now has 6 directors, 2 of whom are independent. The Company is engaged in a search to find an additional independent director who would ideally bring broad consumer marketing experience to the Board.
“Our new board, drawn from the worlds of finance, medical and holistic research, aesthetic and consumer products is well suited to make the necessary decisions for Nuvilex’ success in 2009 and into the future,” commented Mr. Schmieg.
As previously announced, the Company engaged Iridium Group to develop a new brand identity for the company. Nuvilex’ new website can be found at http://www.nuvilex.com.
Mr. Schmieg commented, “Our new website reflects the newness and vitality of our recently merged company. The website will be updated often and, much like Nuvilex itself, will continue to build off of a strong base.”
Our name change will officially take place on March 18, 2009. On that date, Nuvilex will trade under the ticker OTC Bulletin Board: NVLX.OB. Most quotation services will redirect eFoodSafety.com inquiries to the new symbol. The cusip number has changed along with the name. The new cusip number is 67090R100. Existing and outstanding eFoodSafety.com stock certificates will continue to be recognized as valid.
———————
Take a look at the website; it’s a class act, not like the old EFSF site. I think this new management team really wants to make a go of this company. We could be in for some nice developments over the comings months. Of course, only time will tell.
So what do you think of the new Name and the new game plan?
Editor: I like it. Was going to write some thoughts first thing this week. I love this viral, grass roots marketing.
I just watched the video of Ufood, George has quite the punch… is this a better investment than Spicy pickle?
Editor: They are better and worse in different ways. UFFC has far fewer stores, and a different expansion theme. On the other hand, they have a lot more cash in hand right now, but also have a much higher burn rate.
Spicy Pickle has focused their recession based expansion campaign on acquisitions outside the finance plagued US. UFood is taking a bit of a different tact- they are focusing efforts on expanding to non traditional locations with some very deep pocketed partners.
Both have recently been priced as if the companies were going out of business. I know UFFC just got at least another year. SPKL is going to survive this downturn as well- at least that’s what I believe.
The answer is I can’t say- I love them both at the high risk end of the market (what isn’t in this day and age), and I think they both have absolutely fantastic food.
Did you ever do your update on NVLX did I miss it?
So what do you think of the new Name and the new game plan?
Editor: I like it. Was going to write some thoughts first thing this week. I love this viral, grass roots marketing.
Comment by Anonymous — 3/19/2009 @ 9:52 am
Editor: Quite right- I have been delinquent on this. I have been so busy with other ideas. I’ll write some notes on it over the weekend.
More positive news today from Schmeig and company. Boy, what a breath of fresh air this new team is whereas the old team was just hot air, and then nothing at all — stagnant air. If they can bring this company into its full potential, it will be a new version of the phoenix rising from the ashes.
Are you going to the open house and actually meet the new team?
Editor: Would certainly like to. They are definitely more proactive than the last bunch.
You are about as quiet as Doug from NIHK on NVLX. Dont you think an update is due on NVLX?
Editor: It’s kind of a low priority now, but I’ll definately get around to it. Too much new stuff.