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NNTN announced today
Corrected and Replaced: Cornell Capital Partners LP Stops Conversion of Debt into Common Stock of Natural Nutrition
Thursday November 1, 9:46 am ET
HOUSTON, Nov. 1 /PRNewswire-FirstCall/—Natural Nutrition, Inc. (OTC Bulletin Board: NNTN - News) announced today that Cornell Capital Partners LP (now known as YA Global Investments) shall not effect any further conversions of the company’s debt into common stock until March 31, 2008. Additionally, no more conversions will be made until December 31, 2008, if the company retires or refinances its existing senior debt in the amount of $9,293,000 by March 31, 2008. As of today’s announcement of the stopping of these conversions, the company’s shares outstanding are approximately 29.5 million shares of common stock.
Tim Connolly, CEO of Natural Nutrition stated, “We greatly appreciate the cooperation and support of Cornell in suspending further conversions of debt into common stock from today until as long as December 31, 2008. This will allow Natural Nutrition to focus on building its core nutraceutical and nutritional supplement business while having the flexibility of adequate time to seek the conventional financing needed to pay off our company’s debt by December 31, 2008. Our shareholder’s interests are well-served with this action, and we believe this will allow us to consummate more traditional financing with less dilutive consequences. We are happy to convey this good news to our shareholders.”
InterACTIVE Nutrition International Inc. is a majority owned subsidiary
of publicly traded Natural Nutrition, Inc. (OTC Bulletin Board: NNTN) and
is partially owned by Corporate Strategies Merchant Bankers. InterACTIVE
Nutrition is an international leader in sports and nutritional supplements
backed by over 10 years of research, development and sales of sports
nutrition products in over fifteen countries throughout the world.
InterACTIVE Nutrition’s trusted products are scientifically formulated, and
manufactured to improve athletic performance and overall health. For more
information on any of InterACTIVE Nutrition’s products, please visit
http://www.interactivenutrition.com.
This press release contains forward-looking statements, which involve
known and unknown risks, uncertainties or other factors that could cause
actual results to materially differ from the results, performance or other
expectations implied by these forward-looking statements. Natural
Nutrition’s expectations regarding future sales and profitability assume,
among other things, stability in the economy and reasonable growth in the
demand for its products, the continued availability of raw materials at
affordable prices, retention of its key management and operating personnel,
as well as other factors detailed in Natural Nutrition’s filings with the
Securities and Exchange Commission. The forward-looking statements,
assumptions and factors stated or referred to in this press release are
based on information available to Consolidated Graphics today. Natural
Nutrition expressly disclaims any duty to provide updates to these
forward-looking statements, assumptions and other factors after the day of
this release to reflect the occurrence of events or circumstances or
changes in expectations.
CONTACT: Turnaround Partners /Corporate Strategies, Inc.
Marcy Dorotik
(713) 337-3717
news@corporate-strategies.net
SOURCE Natural Nutrition
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