Bionutrics, Inc. Files Its 10-K for Fiscal Year 2000.Business Editors PHOENIX--(BUSINESS WIRE)--Jan. 18, 2001 Bionutrics, Inc., (Nasdaq: BNRX) has filed its 10-K for fiscal year 2000. The Company reported a net loss of ($2,566,731) with a net loss per share of (.12) for the year based on an average number of outstanding common shares of 20,948,968. The Company reported current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. at year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. of $891,192 and total assets of $4,106,368. Subsequent to year-end the Company entered into a private placement Common Stock Purchase Commitment for the future issuance and sale of 500,000 restricted shares of the Company's common stock at $1.00 per share. Ronald Lane, Ph.D., Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bionutrics made the following comments, "At the beginning of FY 2000 we set and accomplished a number of goals. We completed the science supporting our initial portfolio of new products, and are preparing their launch. We have increased our technology base through the expansion of our patent estate, and raised capital that was sufficient to allow us to carry out the program of the past year. I am pleased to say that we expect to launch two new products during the first half of this year based on the science and development work recently finished. We have also been able to expand our patent base and have additional new products targeted for this technology. We strongly believe that the increasing size and growth of the functional nutrition nutrition, study of the materials that nourish an organism and of the manner in which the separate components are used for maintenance, repair, growth, and reproduction. Nutrition is achieved in various ways by different forms of life. market provides the Company significant opportunities and promise." Bionutrics is a biopharmaceutical company founded to discover and develop novel biologically active compounds derived de·rive v. de·rived, de·riv·ing, de·rives v.tr. 1. To obtain or receive from a source. 2. from natural sources. Natural, biologically active compounds have potential applications as functional nutrition ingredients as well as ethical drugs. Bionutrics is presently developing proprietary functional nutrition ingredients and pharmaceutical products and intends to market these products through strategic alliances. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward looking statements regarding our product launch that are subject to the risks and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of raw materials, the regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. environment and governmental approval processes, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
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