Dallas, Texas 09/30/2013 (Financialstrend) – Nutranomics, Inc. (OTCBB:NNRX) has been extremely active on the browsers over the past few weeks. It has also made a series of submissions to SEC which has helped the stock post a dramatic rally of 139% over the past couple of weeks.
Slew of SEC filings
On September 19, it merged fully owned division Buka Ventures with Nutranomics. On September 24, it announced the completion of a reverse merger where by 8.9 million outstanding shares of Health Education were bought out by Nutranomics. In turn the share holders of Health Education were given approximately 25 million shares of Nutranomics. On completion of this transaction, the share outstanding of the combined entity was 46.5 million. This deal was structured as a recapitalization exercise effected by share exchange.
On September 25, it announced hiring Amar Chandnani to head its sales operations for South East Asia. On September 26, the firm announced a firm business interest being envisioned by Philippines biggest multilevel distributor “Unlimited Network of Opportunities”. The Philippine company is negotiating with NNRX to develop six exclusive products for its own use. Dr. Tracy Gibbs, CEO of Nutranomic is quoted to have commented that “company expects proceeds in excess of $2.5 million dollars starting 2014 as royalties from this project.”
On the back of these hectic deal makings and new business interests, Nutranomics shares have steadily climbed over 46% in value in last week’s trading. Nutranomics is into research and development of food products based on natural flavours. It has been in operations since 1997 when it originally produced and sold its own product line. Company has also worked as a back end research and development provider of new food formulas for other product companies on a turnkey basis. The Company target markets are spread across North America and Asia.