Last $0.0035 USD
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As of 8:10 PM 06/30/14 All times are local (Market data is delayed by at least 15 minutes).

therabiogen inc (TRAB) Snapshot

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04/9/14 - $0.01
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12/19/13 - $0.0008
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therabiogen inc (TRAB) Details

TheraBiogen, Inc. develops, manufactures, markets, and sells over-the-counter homeopathic pharmaceutical products that aid in the relief of various symptoms and illnesses. The company’s products include THERA MAX cold and flu relief, THERA MAX allergy relief, and THERA MAX migraine relief products. It is also developing THERA MAX sore throat relief product. The company sells its products to the pharmaceutical retail chain or grocery retail chain through third parties primarily in North America. TheraBiogen, Inc. was founded in 2000 and is based in Freehold, New Jersey.

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therabiogen inc (TRAB) Key Developments

TheraBiogen To Be Deleted From OTCBB

TheraBiogen Inc.’s common stock will be deleted from OTC Bulletin Board (OTCBB) effective November 20, 2012, on account of failure to comply with rule NASD 6530. The company will be added to NBB.

TheraBiogen Inc. Announces Resignation of Kelly T. Hickel, as Chairman and Chief Executive Officer

TheraBiogen Inc. announced that, effective October 12, 2012, Kelly T. Hickel, Chairman and CEO, resigned as an officer, director and employee of the company for personal reasons.

TheraBiogen Inc. Announces Resignation of Thomas E. Kelly as Director; Lender Declares Therabiogen Inc. in Default to Pay $250,000 Line of Credit

TheraBiogen Inc. is a party to a financing agreement with its principal lender, which holds a first priority security interest in its assets. Due to the financial circumstances, the company has been unable to pay the lender amounts due under a $250,000 line of credit used for the financing of inventory purchases, plus certain related fees, as well as accrued interest on the line of credit, and the lender has declared the company in default of these obligations. The company also has been unable to secure alternate financing to retire the amounts due. The company is now advised that the lender has initiated steps to foreclose on its security interest in the assets and that a foreclosure sale will be held on November 8, 2012. Unless this foreclosure and sale in postponed or alternative arrangements can be made, the company will be without any operating assets as a result, and will no longer be able to engage in any business activity or pay debts. While the Board of Directors has discussed the possibility of filing a Chapter 11 bankruptcy proceeding, or lack of any cash or other resources needed to retain a bankruptcy attorney to commence and maintain such an action has precluded this option. Effective October 25, 2012, one of the Directors, Thomas E. Kelly resigned from his position as Director for personal reasons.


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