This past summer, when Michael James was appointed to the CEO of Inergetics, Inc.(OTCBB: NRTI), he promised that he would inject new life into the developer of nutritional supplements for the Clinical Health and Sports Supplement markets.
He began by cleaning up debt and converting it into equity. He also publicly disclosed that the company was going to launch clinical trials for its Surgex product line to be used by dialysis patients-- a huge and growing potential market.
On Monday. after the market closed, the company filed an 8K that NTRI-- a company with only a $4 market cap -- has received a cash injection of $2.2 million from the New Jersey Economic Development Authority as part of the state's Technology Business Tax Certificate Transfer Program.
The company will get $2,209,715 in cash of total available New Jersey State tax benefits of $5,187,471.
Again, this is a company with a market cap of only $4 million. Shares should easily rise from their current $.10 level to $.15 or even $.20 and beyond those levels if the firm continues to show further evidence that NRTI`s new management is focused and performing upon their promise to run the business efficiently and effectively.
The latest company filings show some previously unannounced positive events that occurred in the quarter and in a Q&A video interview posted last month, the new CEO alluded to several business initiatives he expect to begin showing success in the first half of 2013, including new product lines, the beginning and completion of the studies on their formulation for dialysis patients, and an expansion of their sales channels for the scientifically proven Surgex protein product that is currently available online.
Below is a video that explains this trade and breaks down this penny bio bagger which is poised to rise in quick order:
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