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Wiki Wiki Summary
Chairperson The chairperson (also chair, chairman, or chairwoman) is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group, presides over meetings of the group, and conducts the group's business in an orderly fashion.In some organizations, the chairperson is also known as president (or other title).
Public company A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company).
Common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States.
Common stock dividend A common stock dividend is the dividend paid to common stock owners from the profits of the company. Like other dividends, the payout is in the form of either cash or stock.
Preferred stock Preferred stock (also called preferred shares, preference shares, or simply preferreds) is a component of share capital that may have any combination of features not possessed by common stock, including properties of both an equity and a debt instrument, and is generally considered a hybrid instrument. Preferred stocks are senior (i.e., higher ranking) to common stock but subordinate to bonds in terms of claim (or rights to their share of the assets of the company, given that such assets are payable to the returnee stock bond) and may have priority over common stock (ordinary shares) in the payment of dividends and upon liquidation.
Matthiola incana Matthiola incana is a species of flowering plant in the cabbage family Brassicaceae. Common names include Brompton stock, common stock, hoary stock, ten-week stock, and gilly-flower.
Stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include securities listed on a public stock exchange, as well as stock that is only traded privately, such as shares of private companies which are sold to investors through equity crowdfunding platforms. Investment is usually made with an investment strategy in mind.
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018.
Class B share In finance, a Class B share or Class C share is a designation for a share class of a common or preferred stock that typically has strengthened voting rights or other benefits compared to a Class A share that may have been created. The equity structure, or how many types of shares are offered, is determined by the corporate charter.B share can also refer to various terms relating to stock classes:\n\nB share (mainland China), a class of stock on the Shanghai and Shenzhen stock exchanges\nB share (NYSE), a class of stock on the New York Stock ExchangeMost of the time, Class B shares may have lower repayment priorities in the event a company declares bankruptcy.
Equity (finance) In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets.
Assurance services Assurance service is an independent professional service, typically provided by Chartered or Certified Public Accountants or Chartered Certified Accountants, with the goal of improving information or the context of information so that decision makers can make more informed, and presumably better, decisions. Assurance services provide independent and professional opinions that reduce information risk (risk from incorrect information).
Negative assurance Negative assurance within accounting ethics (also known as limited assurance), is a method used by the Certified Public Accountant to assure various parties, such as bankers and stockbrokers, that financial data under review by them is reasonable. Negative assurance tells the data user that nothing has come to the CPA's attention of an adverse nature or character regarding the financial data reviewed.
James Spencer-Churchill, 12th Duke of Marlborough Charles James Spencer-Churchill, 12th Duke of Marlborough (born 24 November 1955), styled Earl of Sunderland until March 1972 and Marquess of Blandford until October 2014, and often known as Jamie Blandford or Jamie Marlborough, is an English peer and the current Duke of Marlborough.\nHe is the eldest surviving son of the 11th Duke of Marlborough and his first wife, Susan Mary Hornby.
XBRL assurance XBRL assurance is the auditor's opinion on whether a financial statement or other business report published in XBRL, is relevant, accurate, complete, and fairly presented. An XBRL report is an electronic file and called instance in XBRL terminology.
Budapest Memorandum on Security Assurances The Budapest Memorandum on Security Assurances comprises three identical political agreements signed at the OSCE conference in Budapest, Hungary, on 5 December 1994, to provide security assurances by its signatories relating to the accession of Belarus, Kazakhstan and Ukraine to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). The memorandum was originally signed by three nuclear powers: the Russian Federation, the United Kingdom and the United States.
Security assurance A security assurance, in the context of nuclear warfare, is an expression of a political position by a nuclear-armed nation intended to placate other non-nuclear-armed nations. There are two types of security assurance: positive and negative.
Microsoft Software Assurance Microsoft Software Assurance (SA) is a Microsoft maintenance program aimed at business users who use Microsoft Windows, Microsoft Office, and other server and desktop applications. The core premise behind SA is to give users the ability to spread payments over several years, while offering "free" upgrades to newer versions during that time period.
Proust Questionnaire The Proust Questionnaire is a set of questions answered by the French writer Marcel Proust, and often used by modern interviewers.Proust answered the questionnaire in a confession album--a form of parlor game popular among Victorians. The album belonged to his friend Antoinette, daughter of future French President Félix Faure, titled "An Album to Record Thoughts, Feelings, etc."\nThe album was found in 1924 by Faure's son, and published in the French literary journal Les Cahiers du Mois.
Gender representation on corporate boards of directors Gender representation on corporate boards of directors refers to the proportion of men and women who occupy board member positions. To measure gender diversity on corporate boards, studies often use the percentage of women holding corporate board seats and the percentage of companies with at least one woman on their board.
Staggered elections Staggered elections are elections where only some of the places in an elected body are up for election at the same time. For example, United States Senators have a six-year term, but they are not all elected at the same time.
Advisory board An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation. The informal nature of an advisory board gives greater flexibility in structure and management compared to the board of directors.
Director (business) The term director is a title given to the senior management staff of businesses and other large organizations.\nThe term is in common use with two distinct meanings, the choice of which is influenced by the size and global reach of the organization and the historical and geographic context.
Board of education A board of education, school committee or school board is the board of directors or board of trustees of a school, local school district or an equivalent institution.\nThe elected council determines the educational policy in a small regional area, such as a city, county, state, or province.
Product liability Product liability is the area of law in which manufacturers, distributors, suppliers, retailers, and others who make products available to the public are held responsible for the injuries those products cause. Although the word "product" has broad connotations, product liability as an area of law is traditionally limited to products in the form of tangible personal property.
Limited liability company A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Limited liability Limited liability is a legal status where a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company or partnership. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets of the company, not the assets of its shareholders or other investors.
The Liability The Liability (also known as The Hitman's Apprentice) is a 2013 British black comedy crime-thriller film directed by Craig Viveiros and written by John Wrathall. The film stars Tim Roth, Talulah Riley, Jack O'Connell and Peter Mullan.
Legal liability In law, liable means "responsible or answerable in law; legally obligated". Legal liability concerns both civil law and criminal law and can arise from various areas of law, such as contracts, torts, taxes, or fines given by government agencies.
No liability A no-liability company in Australia (suffix NL) is a company which, under the Corporations Act 2001 (Cth), must have as its stated objects that it is solely a mining company and that it is not entitled to calls on the unpaid issue price of shares. It is a company which is restricted to mining activities and is the only sort of corporation which is entitled to this form of liability, given the sometimes financially risky business of mining.
Limited liability partnership A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations.
Vicarious liability Vicarious liability is a form of a strict, secondary liability that arises under the common law doctrine of agency, respondeat superior, the responsibility of the superior for the acts of their subordinate or, in a broader sense, the responsibility of any third party that had the "right, ability or duty to control" the activities of a violator. It can be distinguished from contributory liability, another form of secondary liability, which is rooted in the tort theory of enterprise liability because, unlike contributory infringement, knowledge is not an element of vicarious liability.
Paclitaxel Paclitaxel (PTX), sold under the brand name Taxol among others, is a chemotherapy medication used to treat a number of types of cancer. This includes ovarian cancer, esophageal cancer, breast cancer, lung cancer, Kaposi's sarcoma, cervical cancer, and pancreatic cancer.
Protein-bound paclitaxel Protein-bound paclitaxel, also known as nanoparticle albumin–bound paclitaxel or nab-paclitaxel, is an injectable formulation of paclitaxel used to treat breast cancer, lung cancer and pancreatic cancer, among others. Paclitaxel kills cancer cells by preventing the normal breakdown of microtubules during cell division.
Paclitaxel total synthesis Paclitaxel total synthesis in organic chemistry is a major ongoing research effort in the total synthesis of paclitaxel (Taxol). This diterpenoid is an important drug in the treatment of cancer but, also expensive because the compound is harvested from a scarce resource, namely the Pacific yew (Taxus brevifolia).
Paclitaxel trevatide Paclitaxel trevatide (development codes NG1005 and GRN1005) is an experimental chemotherapy drug that is under development by Angiochem Inc, a Canadian biotech company. Phase II clinical trials have completed for several indications, and the company is preparing for phase III trials.Paclitaxel trevatide is a paclitaxel-Angiopep-2 conjugate.
Taxane Taxanes are a class of diterpenes. They were originally identified from plants of the genus Taxus (yews), and feature a taxadiene core.
FOLFIRINOX FOLFIRINOX is a chemotherapy regimen for treatment of advanced pancreatic cancer. It is made up of the following four drugs:\n\nFOL – folinic acid (leucovorin), a vitamin B derivative that enhances the effects of 5-fluorouracil (5-FU);\nF – fluorouracil (5-FU), a pyrimidine analog and antimetabolite which incorporates into the DNA molecule and stops DNA synthesis;\nIRIN – irinotecan (Camptosar), a topoisomerase inhibitor, which prevents DNA from uncoiling and duplicating; and\nOX – oxaliplatin (Eloxatin), a platinum-based antineoplastic agent, which inhibits DNA repair and/or DNA synthesis.The regimen emerged in 2010 as a new treatment for patients with metastatic pancreatic cancer.
Drug-eluting stent A drug-eluting stent (DES) is a peripheral or coronary stent (a scaffold) placed into narrowed, diseased peripheral or coronary arteries that slowly release a drug to block cell proliferation. This prevents fibrosis that, together with clots (thrombi), could otherwise block the stented artery, a process called restenosis.
Risk Factors
INTEGRATED BIOPHARMA INC Item 1A Risk Factors 10 Item 1A Risk Factors Factors that May Affect the Future Results of our Business Our revenue would decline significantly if we lose one or more of our most significant customers, which could have a significant adverse impact on us
A significant portion of our revenues are concentrated among three customers, Herbalife International of America, Inc, Costco Wholesale, Inc
For the years ended June 30, 2006, 2005 and 2004, these customers represented approximately 86prca, 80prca and 71prca of total revenue, respectively
The loss of any of these customers could have a significant adverse impact on our financial condition and results of operations
We depend on our senior management, the loss of whom would have an adverse effect on us
We presently are dependent upon the executive abilities of our Chairman of the Board, President and Chief Executive Officer, E Gerald Kay, and our other executive officers
Our business and operations to date chiefly have been implemented under the direction of these individuals, who presently are, and in the future will be, responsible for the implementation of our anticipated plans and programs
While we have obtained key-man life insurance in the amount of dlra1dtta0 million on the life of E Gerald Kay, with our company as the named beneficiary, the loss or unavailability of the services of one or more of our principal executives would have an adverse effect on us
We may encounter difficulty in our ability to recruit and ultimately hire any replacement or additional executive officers having similar background, experience and qualifications as those of our current executive officers
There is no assurance that we will remain listed on an active trading market
Although our common stock is quoted on the American Stock Exchange, there can be no assurance that we will, in the future, be able to meet all the requirements for continued quotation on that exchange
In the absence of an active trading market or if our common stock cannot be traded on the American Stock Exchange, our common stock could instead be traded on the OTC Bulletin Board or in the Pink Sheets
In such event, the liquidity and stock price in the secondary market may be adversely affected
In addition, in the event our common stock was de-listed; broker-dealers have certain regulatory burdens imposed upon them which may discourage them from effecting transactions in our common stock and hence, could further limit the liquidity of our common stock
We may not receive approval for our pending patent applications for nutritional supplements, which could enable our competitors to use similar methods and processes
We are the registered owner of fourteen (14) issued US patents and several foreign patents directed to methods for accumulating metals in plant seedlings and nutritional formulations produced using the plant seedlings, or has rights to these patents in the field of nutritional supplements and one (1) issued patent directed to Virus-Induced Gene Slicing in Plants
In the area of protein production in plants, we also have ten (10) patent utility applications and five (5) provisional applications pending before the US Patent and Trademark Office and several foreign applications currently pending
We can give no assurance that we will be granted such patents
To the extent we are not granted such patents, our competitors could more easily produce plant-based proteins similar to ours
We have entered into several transactions with entities controlled by some of our officers and directors, which could pose a conflict of interest
We have entered into several agreements and arrangements described in our previous SEC public filings and to be fully described in our proxy statement for our 2006 annual meeting of stockholders, including the lease of real property from Vitamin Realty Associates, LLC, the merger with NuCycle Acquisition Corp, and the acquisition of the Paxis business from Trade Investment Services, LLC, which involved transactions with entities significantly owned by members of the Kay family and other of our significant shareholders and/or executive officers, who collectively own a majority of our shares of common stock
Although we believe that these transactions were advantageous to us and were on terms no less favorable to us than could have been obtained from unaffiliated third parties, transactions with related parties can potentially pose a conflict of interest
10 Our Executive Officers and Directors have majority voting power and may take actions that may not be in the best interest of other stockholders, but in their own interest
Our Executive Officers and Directors beneficially own approximately 71prca of our outstanding shares
If these stockholders act together, they may be able to exert significant control over our management and affairs requiring stockholder approval, including approval of significant corporate transactions
This concentration of ownership may have the effect of delaying or preventing a change in control and might adversely affect the market price of our common stock
This concentration of ownership may not be in the best interests of all our stockholders
We have a staggered Board of Directors, which could impede an attempt to acquire us or remove our management
Our Board of Directors is divided into three classes, each of which serves for a staggered term of three years
This division of our Board of Directors could have the effect of impeding an attempt to take over our company or change or remove management, since only one class will be elected annually
Thus, only approximately one-third of the existing Board of Directors could be replaced at any election of directors
Our product liability insurance may be insufficient to cover possible claims against us
Our company, like other manufacturers, wholesalers and distributors of vitamin and nutritional supplement products and APIs, faces an inherent risk of exposure to product liability claims if, among other things, the use or ingestion of our products, result in sickness or injury
We currently maintain a product liability insurance policy that provides a total of dlra5dtta0 million of coverage per occurrence and dlra5dtta0 million of coverage in the aggregate
We also maintain a professional liability policy to insure our contract research services with similar insurance coverage
However, there can be no assurance that existing or future insurance coverage will be sufficient to cover any possible product liability risks or that such insurance will continue to be available to us on economically feasible terms
Our nutraceutical products are manufactured using various raw materials consisting of vitamins, minerals, herbs, fruit extracts and other ingredients that we regard as safe when taken as recommended by us and that various scientific studies have suggested may provide health benefits
We could be adversely affected if any our products or any similar products distributed by other companies should prove or be asserted to be harmful to consumers or should scientific studies provide unfavorable findings regarding the effectiveness of our products
There is no assurance that we will be able to produce Paclitaxel on a commercial scale
subsidiary uses botanical materials derived from the yew tree, or taxus canadensis, to produce Paclitaxel, a cancer therapy drug
Paxis has formed a joint venture with Chatham Biotec, Ltd
to produce extract and intermediate precursor Paclitaxel from Canadian Taxus trees
We can give no assurance that the joint venture will be successful in producing such Paclitaxel or that we can locate alternate sources of yew trees
We may not be able to obtain raw materials used in certain of our manufactured products
The principal raw materials used in the manufacturing process in the companyapstas nutraceutical segment are natural and synthetic vitamins, minerals, herbs, related nutritional supplements, gelatin capsules, coating materials, fruit extracts, fruit juices and the necessary components for packaging the finished products
The raw materials are available from numerous sources within the United States and abroad
The gelatin capsules, coating materials and packaging materials are similarly widely available
The principal raw materials used in our pharmaceutical segment are made up of a variety of materials used to develop and manufacture Paclitaxel
We entered into a joint venture agreement with a raw material supplier for our Paxis subsidiary
We generally purchase our raw materials, on a purchase order basis, without long-term commitments
Our principal suppliers in our Nutraceutical Segment are JD Moody Marketing Services, Inc, Triarco Industries, Inc, and DSM Nutritional Products, Inc
In connection with our Pharmaceutical Segment, botanical materials derived from the Canadian yew tree, or Taxus canadensis, are used to produce Paclitaxel
Canadian yew trees are in limited supply
Paxis has entered into a joint venture with Chatham Biotec, Ltd
to produce extract and intermediate precursor Paclitaxel from Canadian yew trees
We can give no assurance that the joint venture will be successful in producing such Paclitaxel extracts or intermediates, or that we can locate alternate sources of yew trees