Navigation Links
Mach One Completes Note Exchange
Date:1/22/2009

BELGIUM, Wis., Jan. 22 /PRNewswire-FirstCall/ -- Mach One Corporation (Pink Sheets: MNCN), a biological solutions company that develops products that produce a positive long term benefit to the agricultural and consumer market, announced today that it has completed its Subordinated Note Swap of $1.5 million with an Investor.

Mach One issued the Original Note to facilitate the equipment purchase for its first production facility in Wisconsin. The Original Note had an amortization schedule that started after the completion of the equipment purchase. The new board upon review of that part of the capital structure did not see the need to start amortization during the Wisconsin facility startup stage so it proposed exchanging the Original Note for a Zero Coupon Convertible Note similar in structure to the Note issued in the Pacific Rim Foods Ltd. transaction.

Monte B. Tobin, Chairman and Chief Executive Officer of Mach One, said, "We are pleased that our board has taken an active role in assisting the company in matching its capital structure to its business model. We continue to execute on our business plan and are pleased with this recent capital change which when combined with the capital provided by Pacific Rim Foods Ltd, and the recent $500,000 and $1.5 million capital placement will allow Mach One to move forward on execution of its business model."

Tad Ballantyne, Director, said, "We are pleased to have a strategic Investor who recognizes the benefits to both parties of the Note exchange. We look forward to the strategic Investor's participation as a board member along with the addition of another board member from the announced Ceres Organic transaction. Both these anticipated board members have extensive experience in the 'healthy food' sector which is part of our mission of building a global company focusing on the 'health benefits to man and animal.' Execution of both capital formation and board oversight are important components of building a successful public company."

Safe Harbor Statement

This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected. Readers are encouraged to view the Company's risks identified under the caption "Risk Factors" in the S-1 Registration Statement of the Company as Amended filed with the Securities and Exchange Commission on September 18, 2008.


'/>"/>
SOURCE Mach One Corporation
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Anthera Completes Enrollment and Dosing of Varespladib Cardiovascular Trial
2. GlaxoSmithKline Successfully Completes Tender Offer for Shares of Genelabs Technologies, Inc.
3. Chimerix Completes Phase I Study and Initiates a Phase II Multi-dose Clinical Trial for CMX001
4. Valeant Pharmaceuticals Completes Acquisition of Dow Pharmaceutical Sciences, Inc.
5. Johnson & Johnson Completes Acquisition of Omrix Biopharmaceuticals, Inc.
6. BioLife Solutions Completes Safety Studies on HypoThermosol(R) and CryoStor(TM)
7. NeoStem Completes $500,000 Private Placement With Strategic Investor
8. Lilly Completes Cash Tender Offer for ImClone Systems
9. China Medical Technologies Completes the Development of EGFR Molecular Diagnostic Kits
10. Accera, Inc. Completes $35 Million Series C Financing
11. OncoMed Pharmaceuticals Completes Series B Financing
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... , June 27, 2016  Sequenom, Inc. (NASDAQ: ... enabling healthier lives through the development of innovative products ... the United States denied its ... the claims of Sequenom,s U.S. Patent No. 6,258,540 (",540 ... criteria established by the Supreme Court,s Mayo Collaborative Services ...
(Date:6/27/2016)... , June 27, 2016  Liquid Biotech ... the funding of a Sponsored Research Agreement with ... tumor cells (CTCs) from cancer patients.  The funding ... CTC levels correlate with clinical outcomes in cancer ... data will then be employed to support the ...
(Date:6/24/2016)... NC (PRWEB) , ... June 24, 2016 , ... Researchers ... the most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings are ... to read it now. , Diagnostic biomarkers are signposts in the blood, lung ...
(Date:6/23/2016)... , June 23, 2016 A person commits a ... crime scene to track the criminal down. An ... Food and Drug Administration (FDA) uses DNA evidence to track ... Sound far-fetched? It,s not. The FDA has increasingly ... support investigations of foodborne illnesses. Put as simply as possible, ...
Breaking Biology Technology:
(Date:6/9/2016)... innovation leader in attendance control systems is proud to announce the introduction of fingerprint ... sure the right employees are actually signing in, and to even control the opening ... ... ... Photo ...
(Date:6/3/2016)... 2016 Das DOTM ... Nepal hat ein 44 Millionen ... Kennzeichen, einschließlich Personalisierung, Registrierung und IT-Infrastruktur, an ... und Implementierung von Identitätsmanagementlösungen. Zahlreiche renommierte internationale ... teilgenommen, aber Decatur wurde als konformste und ...
(Date:6/2/2016)... 2016 Perimeter Surveillance & Detection ... Physical Infrastructure, Support & Other Service  The ... offers comprehensive analysis of the global Border Security ... revenues of $17.98 billion in 2016. Now: ... leader in software and hardware technologies for advanced video ...
Breaking Biology News(10 mins):