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þ
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QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
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¨
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TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
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Nevada
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87-0233535
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|
| (State or Other Jurisdiction of Incorporation or Organization) |
(I.R.S. Employer Identification No.)
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| 951 Broken Sound Parkway NW, Suite 320, Boca Raton, FL 33487 | (561) 961-1911 | |
| (Address of Principal Executive Offices) | (Issuer’s Telephone Number) | |
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Page
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||||
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PART I - FINANCIAL INFORMATION
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||||
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Item. 1
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Financial Statements
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|||
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3
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||||
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4
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||||
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5
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6
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Item 2.
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25
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|||
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Item 3.
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36
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|||
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Item 4.
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37
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|||
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Part II - OTHER INFORMATION
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||||
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Item 1.
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37
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|||
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Item 1A.
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37
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Item 2.
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37
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|||
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Item 3.
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37
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|||
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Item 4.
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37
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|||
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Item 5.
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37
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Item 6.
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38
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|||
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September 30, 2011
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December 31, 2010
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|||||||
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(Unaudited)
|
||||||||
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ASSETS
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||||||||
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Current Assets:
|
||||||||
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Cash
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$ | 4,238 | $ | 1,245 | ||||
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Accounts receivable
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2,100 | - | ||||||
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Prepaid expense
|
999 | - | ||||||
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Total current assets
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7,337 | 1,245 | ||||||
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Assets of discontinued operations
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- | 466,172 | ||||||
| . | ||||||||
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Total assets
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$ | 7,337 | $ | 467,417 | ||||
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LIABILITIES AND STOCKHOLDERS' DEFICIT
|
||||||||
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|
||||||||
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Current Liabilities:
|
||||||||
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Accounts payable
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$ | 15,182 | $ | 1,934 | ||||
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Secured promissory note
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- | 543,531 | ||||||
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Demand promissory notes
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365,000 | 210,000 | ||||||
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Dividends payable
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41,359 | 41,359 | ||||||
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Accrued interest
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15,505 | - | ||||||
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Liabilities of discontinued operations
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- | 578,145 | ||||||
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Total current liabilities
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437,046 | 1,374,969 | ||||||
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Total liabilities
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437,046 | 1,374,969 | ||||||
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Commitments and Contingencies
|
||||||||
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Stockholders' Deficit:
|
||||||||
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Preferred stock -$0.001; 10,000,000 shares authorized;
|
||||||||
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no shares issued and outstanding
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- | - | ||||||
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Common stock - par value $0.001; 250,000,000 and shares authorized;
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||||||||
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50,000,000 shares authorized; 16,575,209 shares issued and
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||||||||
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outstanding
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16,575 | 16,575 | ||||||
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Additional paid in capital
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1,661,321 | 1,661,321 | ||||||
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Accumulated deficit
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(2,107,605 | ) | (2,585,448 | ) | ||||
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Total stockholders' deficit
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(429,709 | ) | (907,552 | ) | ||||
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Total liabilities and stockholders' deficit
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$ | 7,337 | $ | 467,417 | ||||
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Three Months Ended
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Nine Months Ended
|
|||||||||||||||
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September 30,
|
September 30,
|
|||||||||||||||
|
2011
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2010
|
2011
|
2010
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||
|
Operating revenues
|
$ | 2,100 | $ | - | $ | 2,100 | $ | - | ||||||||
|
Operating expenses:
|
||||||||||||||||
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General and administration
|
64,594 | 66,944 | 164,933 | 263,654 | ||||||||||||
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Total operating expense
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64,594 | 66,944 | 164,933 | 263,654 | ||||||||||||
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Other income and (expense):
|
||||||||||||||||
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Other income
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- | - | 5,000 | - | ||||||||||||
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Interest expense
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(11,732 | ) | (55,587 | ) | (19,097 | ) | (64,086 | ) | ||||||||
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Total other income and expense
|
(11,732 | ) | (55,587 | ) | (14,097 | ) | (64,086 | ) | ||||||||
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Loss from continuing operations
|
||||||||||||||||
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before taxes
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(74,226 | ) | (122,531 | ) | (176,930 | ) | (327,740 | ) | ||||||||
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Provision for income taxes
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(4,304 | ) | - | (4,304 | ) | - | ||||||||||
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Loss from continuing operations
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(78,530 | ) | (122,531 | ) | (181,234 | ) | (327,740 | ) | ||||||||
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Discontinued Operations:
|
||||||||||||||||
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Gain on disposal of discontinued operations
|
- | 259,693 | 705,668 | 259,693 | ||||||||||||
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Loss from discontinued operations
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- | (107,211 | ) | (46,591 | ) | (518,481 | ) | |||||||||
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Income (loss) from discontinued operations
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- | 152,482 | 659,077 | (258,788 | ) | |||||||||||
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Net income (loss)
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$ | (78,530 | ) | $ | 29,951 | $ | 477,843 | $ | (586,528 | ) | ||||||
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Net income (loss) per share:
|
||||||||||||||||
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From continuing operations, basic and diluted
|
$ | (0.00 | ) | $ | (0.01 | ) | $ | (0.01 | ) | $ | (0.02 | ) | ||||
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From discontinued operations, basic and diluted
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0.00 | 0.01 | 0.04 | (0.02 | ) | |||||||||||
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Net income (loss) per share, basic and diluted
|
$ | (0.00 | ) | $ | 0.00 | $ | 0.03 | $ | (0.04 | ) | ||||||
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Weighted average number of shares outstanding
|
16,575,209 | 15,790,209 | 16,575,209 | 15,790,209 | ||||||||||||
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Nine Months Ended
September 30,
|
||||||||
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2011
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2010
|
|||||||
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(Unaudited)
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(Unaudited)
|
|||||||
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CASH FLOWS FROM OPERATING ACTIVITIES - CONTINUING OPERATIONS
|
||||||||
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Net income (loss)
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$ | 477,843 | $ | (586,528 | ) | |||
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Adjustments to reconcile net income (loss) to net cash flows from
|
||||||||
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operating activities - continuing operations:
|
||||||||
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Depreciation
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- | 34,556 | ||||||
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Amortization of intangible assets
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- | 4,086 | ||||||
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Cash received in acquisition of Spectrum Health Network, Inc.
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- | 2,844 | ||||||
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Gain on disposal of discontinued operations
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(705,668 | ) | - | |||||
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Changes in assets and liabilities
|
||||||||
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Accounts receivable
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(2,100 | ) | 5,033 | |||||
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Prepaid expense
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(999 | ) | 9,023 | |||||
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Accounts payable
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13,248 | 451,798 | ||||||
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Accrued expenses and other liabilities
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15,505 | 109,784 | ||||||
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Net cash flows provided by (used in) operating activities
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(202,171 | ) | 30,596 | |||||
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CASH FLOWS FROM INVESTING ACTIVITIES
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- | - | ||||||
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CASH FLOWS FROM FINANCING ACTIVITIES
|
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Proceeds from shareholder loan
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155,000 | - | ||||||
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Net cash flows provided by financing activities
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155,000 | - | ||||||
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DISCONTINUED OPERATIONS:
|
||||||||
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Operating activities
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50,164 | 1,028,714 | ||||||
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Investing activities
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- | (285,500 | ) | |||||
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Financing activities
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- | (550,000 | ) | |||||
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Gain from disposal
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- | (200,029 | ) | |||||
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Net cash flows provided by (used in) discontinued operations
|
50,164 | (6,815 | ) | |||||
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Increase in cash
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2,993 | 23,781 | ||||||
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Cash, beginning of period
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1,245 | 165 | ||||||
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Cash, end of period
|
$ | 4,238 | $ | 23,946 | ||||
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SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
|
||||||||
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Interest paid
|
$ | 18 | $ | - | ||||
|
Income taxes paid
|
$ | 4,304 | $ | - | ||||
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SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING ACTIVITIES:
|
||||||||
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Accounts receivable
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$ | - | $ | 5,793 | ||||
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Fixed assets
|
- | 231,580 | ||||||
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Intangible assets
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- | 6,748 | ||||||
|
Accounts payable
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- | (461,272 | ) | |||||
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Accrued expenses
|
- | (18,448 | ) | |||||
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Goodwill
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- | 288,443 | ||||||
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Common stock issued by AMHN, Inc.
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- | (50,000 | ) | |||||
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Cash from acquisition of Spectrum Health Network, Inc.
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$ | - | $ | 2,844 | ||||
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Three Months Ended September 30, 2010
|
Nine Months Ended September 30, 2010
|
|||||||
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Operating revenues
|
$ | 16,382 | $ | 60,645 | ||||
|
Operating expenses:
|
||||||||
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Operating costs
|
12,267 | 81,084 | ||||||
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General and administration
|
7,067 | 101,673 | ||||||
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Sales and marketing
|
25,330 | 168,544 | ||||||
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Depreciation and amortization
|
23,189 | 145,974 | ||||||
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Total operating expense
|
67,853 | 497,275 | ||||||
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Other expense
|
||||||||
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Interest expense
|
-0- | (8,531 | ) | |||||
|
Total other income and (expense)
|
-0- | (8,531 | ) | |||||
|
Loss from discontinued operations
|
$ | (51,471 | ) | $ | (445,161 | ) | ||
|
July 1, 2010 through September 30, 2010
|
June 11, 2010 through
September 30, 2010
|
|||||||
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Operating revenues
|
$ | 22,120 | $ | 27,854 | ||||
|
Operating expenses:
|
||||||||
|
Operating costs
|
32,625 | 39,568 | ||||||
|
General and administration
|
15,326 | 22,964 | ||||||
|
Depreciation and amortization
|
29,909 | 38,642 | ||||||
|
Total operating expense
|
77,860 | 101,174 | ||||||
|
Loss from discontinued operations
|
$ | (55,740 | ) | $ | (73,320 | ) | ||
|
Operating revenues
|
$ | 12,573 | ||
|
Operating expenses:
|
||||
|
Operating costs
|
16,356 | |||
|
General and administration
|
32,989 | |||
|
Depreciation
|
9,819 | |||
|
Total operating expense
|
59,164 | |||
|
Loss from discontinued operations
|
$ | (46,591 | ) |
|
Assets:
|
||||
|
Cash
|
$ | 5,817 | ||
|
Accounts receivable
|
12,573 | |||
|
Fixed assets, net
|
186,569 | |||
|
Intangible assets, net
|
288,443 | |||
|
Total assets transferred
|
$ | 493,402 | ||
|
Liabilities:
|
||||
|
Accounts payable
|
$ | 634,965 | ||
|
Other liabilities
|
16,950 | |||
|
Secured promissory note and accrued interest
|
547,155 | |||
|
Total liabilities of discontinued operations
|
$ | 1,199,070 | ||
|
Net gain on disposal of discontinued operations
|
$ | 705,668 | ||
|
·
|
a reverse split of its outstanding shares of Common Stock on a ratio of 1 for 100 (the "Reverse Split"),
|
|
·
|
an increase of its authorized shares of Common Stock to 250,000,000,
|
|
·
|
a change in the name of the Company to TherapeuticsMD, Inc., and
|
|
·
|
an amendment to the Company's Long Term Incentive Compensation Plan ("LTIP") to increase the authorized shares for issuance thereunder to 25,000,000.
|
|
Robert G. Finizio
|
Chief Executive Officer
|
|
|
John C.K. Milligan
|
President, Secretary
|
|
|
Daniel A. Cartwright
|
Chief Financial Officer, Vice President Finance,
Treasurer
|
|
|
Mitchell Krassan
|
Executive Vice President, Chief Strategy Officer
|
|
|
|
(a)
|
The Company's Chief Financial Officer, Daniel A. Cartwright, received a ten-year Warrant for the purchase of 600,000 shares of the Company's Common Stock which vests monthly over a 44-month period with a fair value of $172,200. The Warrant was valued on the date of the grant using a term of ten (10) years; volatility of 68.99%; risk free rate of 2.23%; and a dividend yield of 0%.
|
|
|
(b)
|
As previously mentioned, Lang received a ten-year Warrant for the purchase of 800,000 shares of the Company's Common Stock which vested immediately upon issuance with a fair value of $229,600. The Warrant was issued as compensation relating to a two-year Consulting Agreement with the Company. In conjunction with the issuance of the Warrant, Lang executed a Lock-Up Agreement. The Warrant was valued on the date of the grant using a term of ten (10) years; volatility of 68.99%; risk free rate of 2.23%; and a dividend yield of 0%.
|
|
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(c)
|
A non-affiliate received a five-year Warrant for the purchase of 184,211 shares of the Company's Common Stock which vested immediately upon issuance with a fair value of $42,921. The Warrant was issued as commission for introduction of a funding source. The Warrant was valued on the date of the grant using a term of five (5) years; volatility of 75.72%; risk free rate of 1.08%; and a dividend yield of 0%.
|
|
Historical
|
||||||||||||||||||||
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TherapeuticsMD
|
VitaMed
|
Adjustments
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Consolidated
|
|||||||||||||||||
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ASSETS
|
||||||||||||||||||||
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Current Assets
|
||||||||||||||||||||
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Cash
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$ | 4,238 | $ | 153,944 | $ | 1,000,000 | E | $ | 1,158,182 | |||||||||||
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Accounts receivable
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2,100 | 32,304 | (2,100 | ) | D | 32,304 | ||||||||||||||
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Inventory
|
-0- | 824,461 | -0- | 824,461 | ||||||||||||||||
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Prepaid expense
|
999 | 8,165 | -0- | 9,164 | ||||||||||||||||
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Total current assets
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7,337 | 1,018,874 | 997,900 | 2,024,111 | ||||||||||||||||
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Fixed Assets
, net of accumulated
|
||||||||||||||||||||
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depreciation of $51,651
|
-0- | 103,471 | -0- | 103,471 | ||||||||||||||||
|
Other
Assets
|
||||||||||||||||||||
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Deposits
|
-0- | 31,949 | -0- | 31,949 | ||||||||||||||||
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Intangible assets
|
-0- | 10,000 | -0- | 10,000 | ||||||||||||||||
|
Total other assets
|
-0- | 41,949 | -0- | 41,949 | ||||||||||||||||
|
TOTAL ASSETS
|
$ | 7,337 | $ | 1,164,294 | $ | 997,900 | $ | 2,169,531 | ||||||||||||
|
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
||||||||||||||||||||
|
Current Liabilities
|
||||||||||||||||||||
|
Accounts payable
|
$ | 15,182 | $ | 532,548 | -0- | $ | 547,730 | |||||||||||||
|
Note, credit lines and loans payable,
|
||||||||||||||||||||
|
net of debt discount of $95,576
|
210,000 | 1,797,470 | (210,000 | ) | F | 1,797,470 | ||||||||||||||
|
Note and loans payable related parties,
|
||||||||||||||||||||
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net of debt discount of $67,199
|
155,000 | 185,468 | (155,000 | ) | C | 185,468 | ||||||||||||||
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Dividends payable
|
41,359 | -0- | -0- | 41,359 | ||||||||||||||||
|
Other accrued expenses
|
15,505 | -0- | (9,809 | ) | C | -0- | ||||||||||||||
| (5,696 | ) | F | ||||||||||||||||||
|
TOTAL LIABILITIES
|
437,046 | 2,515,486 | (380,505 | ) | 2,572,027 | |||||||||||||||
|
Stockholders’ Equity
|
||||||||||||||||||||
|
Common stock
|
16,575 | -0- | (16,409 | ) | A | 81,205 | ||||||||||||||
| 58,407 | B | |||||||||||||||||||
| 2,632 | E | |||||||||||||||||||
| 20,000 | F | |||||||||||||||||||
|
Members contributions
|
-0- | 5,489,950 | (5,489,950 | ) | G | -0- | ||||||||||||||
|
Additional paid in capital
|
1,661,321 | 1,169,903 | 16,409 | A | 7,529,444 | |||||||||||||||
| (58,407 | ) | B | ||||||||||||||||||
| 164,809 | C | |||||||||||||||||||
| 997,368 | E | |||||||||||||||||||
| 195,696 | F | |||||||||||||||||||
| 3,382,345 | G | |||||||||||||||||||
|
Accumulated deficit
|
(2,107,605 | ) | (8,011,045 | ) | (2,100 | ) | D | (8,013,145 | ) | |||||||||||
| 2,107,605 | G | |||||||||||||||||||
|
TOTAL STOCKHOLDERS’ DEFICIT
|
(429,709 | ) | (1,351,192 | ) | 1,378,405 | (402,496 | ) | |||||||||||||
|
TOTAL LIABILITIES AND STOCK-
|
||||||||||||||||||||
|
HOLDERS’ EQUITY
|
$ | 7,337 | $ | 1,164,294 | $ | 997,900 | $ | 2,169,531 | ||||||||||||
|
A
|
To reflect the reverse stock split of the Company’s shares of common stock issued and outstanding on a one hundred for one (100:1) basis dated October 4, 2011.
|
|
B
|
To record the issuance of 58,407,331 (post reverse split shares as of October 4, 2011 to the shareholders of VitaMed.
|
|
C
|
To record the forgiveness of debt.
|
|
D
|
The proforma adjustments represent the estimated proforma impact on the Company. These items were not incurred on a historical basis and the Company did not receive any historical benefits for these items in the historical period presented herein.
|
|
E
|
To record common stock issued pursuant to a stock purchase agreement dated October 5, 2011 with Pernix Therapeutics, LLC.
|
|
F
|
To record common stock issued pursuant to a debt conversion agreement dated October 18, 2011 with Energy Capital, LLC and First Conquest Investment Group, LLC.
|
|
G
|
Purchase accounting adjustment. Accumulated Deficit recorded against Additional Paid in Capital.
|
|
Historical
|
||||||||||||||||||||
|
TherapeuticsMD
|
VitaMed
|
Adjustments
|
Consolidated
|
|||||||||||||||||
|
Sales
|
$ | 2,100 | $ | 1,533,806 | $ | (2,100 | ) | B | $ | 1,533,806 | ||||||||||
|
Cost of sales
|
-0- | 685,450 | -0- | 685,450 | ||||||||||||||||
|
Gross profit
|
2,100 | 848,356 | (2,100 | ) | 848,356 | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Sales, general and administration
|
164,933 | 4,274,098 | (164,933 | ) | B | 4,274,098 | ||||||||||||||
|
Research and development
|
-0- | 80,541 | -0- | 80,541 | ||||||||||||||||
|
Depreciation expense
|
-0- | 24,996 | -0- | 24,996 | ||||||||||||||||
|
Total operating expenses
|
164,933 | 4,379,635 | (164,933 | ) | 4,379,635 | |||||||||||||||
|
Operating loss
|
(162,833 | ) | (3,531,279 | ) | 162,833 | (3,531,279 | ) | |||||||||||||
|
Other income (expense):
|
||||||||||||||||||||
|
Other income
|
5,000 | -0- | (5,000 | ) | B | -0- | ||||||||||||||
|
Interest expense
|
(19,097 | ) | (123,666 | ) | 3,592 | A | (123,666 | ) | ||||||||||||
| 15,505 | B | |||||||||||||||||||
|
Total other income (expense)
|
(14,097 | ) | (123,666 | ) | 14,097 | (123,666 | ) | |||||||||||||
|
Loss from continuing operations
|
||||||||||||||||||||
|
before taxes
|
(176,930 | ) | (3,654,945 | ) | 176,930 | (3,654,945 | ) | |||||||||||||
|
Provision for income taxes
|
4,304 | -0- | (4,304 | ) | -0- | |||||||||||||||
|
Loss from continuing operations
|
(181,234 | ) | (3,654.945 | ) | 181,234 | (3,654,945 | ) | |||||||||||||
|
Discontinued operations:
|
||||||||||||||||||||
|
Gain on disposal of
|
||||||||||||||||||||
|
discontinued operations
|
705,668 | -0- | (705,668 | ) | B | -0- | ||||||||||||||
|
Loss from discontinued
|
||||||||||||||||||||
|
operations
|
(46,591 | ) | -0- | 46,591 | B | -0- | ||||||||||||||
|
Net loss from discontinued
|
||||||||||||||||||||
|
operations
|
659,077 | (3,654,945 | ) | (659,077 | ) | -0- | ||||||||||||||
|
Net income (loss)
|
$ | 477,843 | $ | (3,654,945 | ) | $ | (477,843 | ) | $ | (3,654,945 | ) | |||||||||
|
Basic and diluted loss per common share
|
$ | (0.05 | ) | |||||||||||||||||
|
Weighted average common shares outstanding, basic and diluted
|
81,204,766 | |||||||||||||||||||
|
(A)
|
The proforma adjustment to interest expense reflects accrued expense associated with forgiveness of debt.
|
|
(B)
|
The proforma adjustments represent the estimated proforma impact on the Company. These items were not incurred on a historical basis and we did not receive any historical benefits for these items in the historical period presented herein.
|
|
Historical
|
||||||||||||||||||||
|
TherapeuticsMD
|
VitaMed
|
Adjustments
|
Consolidated
|
|||||||||||||||||
|
Sales
|
$ | 48,217 | $ | 1,241,921 | $ | (48,217 | ) | A | $ | 1,241,921 | ||||||||||
|
Cost of sales
|
-0- | 556,390 | -0- | 556,390 | ||||||||||||||||
|
Gross profit
|
48,217 | 685,531 | (48,217 | ) | 685,531 | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Operating
|
71,932 | -0- | (71,932 | ) | A | -0- | ||||||||||||||
|
Sales, general and administration
|
382,860 | 3,650,959 | (382,860 | ) | A | 3,650,959 | ||||||||||||||
|
Research and development
|
-0- | 65,402 | -0- | 65,402 | ||||||||||||||||
|
Depreciation expense
|
61,383 | 22,783 | (61,383 | ) | A | 22,783 | ||||||||||||||
|
Total operating expenses
|
516,175 | 3,739,144 | (516,175 | ) | 3,739,144 | |||||||||||||||
|
Operating loss
|
(467,958 | ) | (3,053,613 | ) | 467,958 | (3,053,613 | ) | |||||||||||||
|
Other income (expense):
|
||||||||||||||||||||
|
Other income
|
22,138 | -0- | (22,138 | ) | A | -0- | ||||||||||||||
|
Interest expense
|
(64,086 | ) | -0- | 64,086 | A | -0- | ||||||||||||||
|
Total other income (expense)
|
(41,948 | ) | -0- | 41,948 | -0- | |||||||||||||||
|
Loss from continuing operations
|
||||||||||||||||||||
|
before taxes
|
(509,906 | ) | (3,053,613 | ) | 509,906 | (3,053,613 | ) | |||||||||||||
|
Provision for income taxes
|
-0- | -0- | -0- | -0- | ||||||||||||||||
|
Loss from continuing operations
|
(509,906 | ) | (3,053,613 | ) | 509,906 | (3,053,613 | ) | |||||||||||||
|
Discontinued operations:
|
||||||||||||||||||||
|
Gain on disposal of
|
||||||||||||||||||||
|
discontinued operations
|
259,693 | -0- | (259,693 | ) | A | -0- | ||||||||||||||
|
Loss from discontinued
|
||||||||||||||||||||
|
operations
|
(445,161 | ) | -0- | 445,161 | A | -0- | ||||||||||||||
|
Net loss from discontinued
|
||||||||||||||||||||
|
operations
|
(185,468 | ) | -0- | 185,468 | -0- | |||||||||||||||
|
Net loss
|
$ | (695,374 | ) | $ | (3,053,613 | ) | $ | 695,374 | $ | (3,053,613 | ) | |||||||||
|
Basic and diluted loss per common share
|
$ | (0.04 | ) | |||||||||||||||||
|
Weighted average common shares outstanding, basic and diluted
|
81,204,766 | |||||||||||||||||||
|
(A)
|
The proforma adjustments represent the estimated proforma impact on the Company. These items were not incurred on a historical basis and we did not receive any historical benefits for these items in the historical period presented herein.
|
|
·
|
a reverse split of its outstanding shares of Common Stock on a ratio of 1 for 100 (the "Reverse Split"),
|
|
·
|
an increase of its authorized shares of Common Stock to 250,000,000,
|
|
·
|
a change in the name of the Company to TherapeuticsMD, Inc., and
|
|
·
|
an amendment to the Company's Long Term Incentive Compensation Plan ("LTIP") to increase the authorized shares for issuance thereunder to 25,000,000.
|
|
Robert G. Finizio
|
Chief Executive Officer
|
|
|
John C.K. Milligan
|
President, Secretary
|
|
|
Daniel A. Cartwright
|
Chief Financial Officer, Vice President Finance,
Treasurer
|
|
|
Mitchell Krassan
|
Executive Vice President, Chief Strategy Officer
|
|
July 1, 2010 through September 30, 2010
|
June 11, 2010 through
September 30, 2010
|
|||||||
|
Operating revenues
|
$ | 22,120 | $ | 27,854 | ||||
|
Operating expenses:
|
||||||||
|
Operating costs
|
32,625 | 39,568 | ||||||
|
General and administration
|
15,326 | 22,964 | ||||||
|
Depreciation and amortization
|
29,909 | 38,642 | ||||||
|
Total operating expense
|
77,860 | 101,174 | ||||||
|
Loss from discontinued operations
|
$ | (55,740 | ) | $ | (73,320 | ) | ||
|
Operating revenues
|
$ | 12,573 | ||
|
Operating expenses:
|
||||
|
Operating costs
|
16,356 | |||
|
General and administration
|
32,989 | |||
|
Depreciation
|
9,819 | |||
|
Total operating expense
|
59,164 | |||
|
Loss from discontinued operations
|
$ | (46,591 | ) |
|
Three Months Ended
September 30, 2010
|
Nine Months Ended
September 30, 2010
|
|||||||
|
Operating revenues
|
$ | 16,382 | $ | 60,645 | ||||
|
Operating expenses:
|
||||||||
|
Operating costs
|
12,267 | 81,084 | ||||||
|
General and administration
|
7067 | 101,673 | ||||||
|
Sales and marketing
|
25,330 | 168,544 | ||||||
|
Depreciation and amortization
|
23,189 | 145,974 | ||||||
|
Total operating expense
|
67,853 | 497,275 | ||||||
|
Other expense
|
||||||||
|
Interest expense
|
-0- | (8,531 | ) | |||||
|
Total other income and (expense)
|
-0- | (8,531 | ) | |||||
|
Loss from discontinued operations
|
$ | (51,471 | ) | $ | (445,161 | ) | ||
|
Exh.
|
Date
|
Description
|
|
2.1
|
July 6, 2009
|
Agreement and Plan of Reorganization among Croff Enterprises, Inc., AMHN Acquisition Corp., America's Minority Health Network, Inc., and the Major Shareholders.
(1)
|
|
2.2
|
June 11, 2010
|
Agreement and Plan of Reorganization (for the acquisition of Spectrum Health Network, Inc.)
(2)
|
|
2.3
|
October 25, 2007
|
Croff Enterprises, Inc. Plan of Corporate Division and Reorganization
(3)
|
|
2.4
|
July 18, 2011
|
Agreement and Plan of Merger by and among AMHN, Inc., VitaMedMD, LLC and VitaMed Acquisition, LLC
(9)
|
|
3.1
|
September 14, 2009
|
Articles of Amendment to Articles of Incorporation (to change name to AMHN, Inc.)
(4)
|
|
3.2
|
July 27, 2009
|
Certificate of Merger of AMHN Acquisition Corp. with and into America's Minority Health Network, Inc.
(5)
|
|
3.3
|
December 7, 2007
|
Articles of Amendment of Croff Enterprises, Inc. (to increase authorized common shares from 20,000,000 to 50,000,000)
(3)
|
|
3.4
|
July 20, 2010
|
Articles of Conversion filed in the State of Nevada
(6)
|
|
3.5
|
July 20, 2010
|
Articles of Incorporation filed in the State of Nevada
(6)
|
|
3.6
|
August 3, 2010
|
Certificate of Amendment and Restatement to the Articles of Incorporation of AMHN, Inc. (to change name and increase authorized shares)
|
|
3.7
|
n/a
|
Bylaws for the State of Nevada
(7)
|
|
10.1
|
November 9, 2010
|
Promissory Note to Philip M. Cohen for $210,000
(8)
|
|
10.2
|
April 18, 2011
|
Convertible Promissory Note to First Conquest Investment Group, L.L.C. for $105,000
(8)
|
|
10.3
|
April 18, 2011
|
Convertible Promissory Note to Energy Capital, LLC for $105,000
(8)
|
|
10.4
|
May 7, 2011
|
Sales Representation Agreement with Mann Equity, LLC
(8)
|
|
10.5
|
July 9, 2011
|
Lease Agreement
(10)
|
|
10.6
|
September 8, 2011
|
Stock Purchase Agreement between the Company and Pernix Therapeutics, LLC
(10)
|
|
10.7
|
September 8, 2011
|
Lock-Up Agreement between the Company and Pernix Therapeutics, LLC
(10)
|
|
10.8
|
October 18, 2011
|
Debt Conversion Agreement with Energy Capital, LLC
(11)
|
|
10.9
|
October 18, 2011
|
Debt Conversion Agreement with First Conquest Investment Group, LLC
(11)
|
|
10.10
|
October 21, 2011
|
Consulting Agreement with Lang Naturals, Inc.
(11)
|
|
10.11
|
October 21, 2011
|
Warrant to Lang Naturals, Inc.
(11)
|
|
10.12
|
October 21, 2011
|
Lock-Up Agreement with Lang Naturals, Inc.
(11)
|
|
101.INS
|
n/a
|
XBRL Instance Document*
|
|
101.SCH
|
n/a
|
XBRL Taxonomy Extension Schema Document*
|
|
101.CAL
|
n/a
|
XBRL Taxonomy Extension Calculation Linkbase Document*
|
|
101.DEF
|
n/a
|
XBRL Taxonomy Extension Definition Linkbase Document*
|
|
101.LAB
|
n/a
|
XBRL Taxonomy Extension Label Linkbase Document*
|
|
101.PRE
|
n/a
|
XBRL Taxonomy Extension Presentation Linkbase Document*
|
|
(1)
|
Filed as an exhibit to Form 8-K filed with the Commission on July 10, 2009 and incorporated herein by reference.
|
|
(2)
|
Filed as an exhibit to Current Report on Form 8-K filed with the Commission on June 14, 2010 and incorporated herein by reference.
|
|
(3)
|
Filed as an exhibit to Form 10-K for the year ended December 31, 2007 filed with the Commission on May 8, 2008 and incorporated herein by reference.
|
|
(4)
|
Filed as an exhibit to Form 10-Q for quarter ending September 30, 2009 filed with the Commission on November 16, 2009 and incorporated herein by reference.
|
|
(5)
|
Filed as an exhibit to Form 10-K filed with the Commission on March 17, 2010 and incorporated herein by reference.
|
|
(6)
|
Filed as an exhibit to Form 10-Q for quarter ending June 30, 2010 filed with the Commission on August 3, 2010 and incorporated herein by reference.
|
|
(7)
|
Filed as an exhibit to Definitive 14C Information Statement filed with the Commission on June 29, 2010 and incorporated herein by reference.
|
|
(8)
|
Filed as an exhibit to Form 10-Q for quarter ending March 30, 2011 filed with the Commission on May 19, 2011 and incorporated herein by reference.
|
|
(9)
|
Filed as an exhibit to Form 8-K filed with the Commission on July 21, 2011 and incorporated herein by reference.
|
|
(10)
|
Filed as an exhibit to Form 8-K filed with the Commission on October 12, 2011 and incorporated herein by reference.
|
|
(11)
|
Filed as an exhibit to Form 8-K filed with the Commission on October 24, 2011 and incorporated herein by reference.
|
|
DATE: November 7, 2011
|
|||
|
TherapeuticsMD, INC.
|
|||
| By: |
/s/ Robert G. Finizio
|
||
| Robert Finizio | |||
| Chief Executive Officer | |||
| By: |
/s/ Daniel A. Cartwright
|
||
| Daniel A. Cartwright | |||
| Chief Financial Officer | |||
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
| FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
|---|
| DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
|---|
No information found
No Customers Found
No Suppliers Found
Price
Yield
| Owner | Position | Direct Shares | Indirect Shares |
|---|