Naturade Takes Redux
Adam Michelin, Naturade's CEO, 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."
From the March 31, 2008, Prepared Foods e-Flash