Interim report 3 Quarter 2010 NattoPharma ASA
New direction with a new Board of Directors and management
In an extraordinary general meeting October 11th 2010, a new Board of Directors was elected based on the company's challenging situation. Mr. Peter Carlsson is appointed CEO. The new CEO, supported by the board of directors, has outlined a new marketing and sales strategy. There is a considerable interest in vitamin K2 in the market, and the company sees significant potential in NattoPharma's proprietary product MenaQ7® base on the company's new strategy.
Extraordinary General meeting
The company reports a negative equity and the company's financial position is problematic. The Board aims to carry out share issue in the range of NOK 15 to 25 million in 2011. The company will shortly summon for an extraordinary general meeting where also the election of new auditor will take place.
Lower than expected revenues in the 3rd quarter 2010
Sales in the 3rd quarter equalled NOK 1.8 million. This is considerably less than expected. The Earnings before tax as per September 30th 2010 is improved compared to the same period in 2009, and the company's gross margin is also improved. The implementation of new source created challenges, which resulted in NattoPharma for a longer period of the 3rd quarter not being able to supply material.
For further information, please contact:
Mr. Ragnvald Holm Lie,
Mobile phone: +47 900 71 532
Chairman of the Board