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Stock impact report

ProPhase Labs Provides Update on Convertible Debt Conversions, Capital Structure, and Underlying Asset Value [Yahoo! Finance]

ProPhase Labs, Inc. (PRPH) 
US:NASDAQ Investor Relations: prophaselabs.com/investors/annual-reports
Company Research Source: Yahoo! Finance
The Company believes that recent volatility in its stock price has been driven by a combination of short-term technical factors , including the accelerated conversion and resale of a significant portion of its outstanding convertible debt, the completion of a 1-for-10 reverse stock split , and the Company's transition from Nasdaq to the OTC market In aggregate, more than $3.3 million of principal has been converted (out of a total of $3.8 million principal at issuance) , resulting in a corresponding reduction in Company debt and an increase in shareholders' equity. Over a relatively short period of time, this conversion activity introduced a substantial number of shares into the public market, creating temporary selling pressure unrelated to the Company's underlying operations or asset value. Management notes that the vast majority of this conversion activity has now been completed . The remaining unconverted balance is less than $500,000 . Based on the contractual terms of the a Show less Read more
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