Director and Major Shareholder Provides Additional Capital
MANCHESTER, NH -- (Marketwired) -- 09/29/15 -- Boston Therapeutics, Inc. (OTCQB: BTHE) (the "Company") announced that on September 24, 2015, the Company paid in-full all of the Company's outstanding variable rate Convertible Promissory Notes (collectively, the "Notes") in the aggregate amount of $524,000.00 and cancelled all related Common Stock Purchase Warrants (collectively, the "Warrants"). The Company paid off the Notes and cancelled the Warrants using a portion of the proceeds of a recent financing provided to the Company by one of its directors. As part of the recent financing, the Company issued additional convertible notes that convert into common stock at a fixed conversion price. As a result of the full payment of the Notes, the Notes are no longer a debt obligation of the Company and, as such, are no longer convertible into shares of the Company's common stock.
About Boston Therapeutics, Inc.
Boston Therapeutics, headquartered in Manchester, NH, (OTCQB: BTHE) is an innovator in designing compounds using complex carbohydrate chemistry. The company's product pipeline is focused on developing and commercializing therapeutic molecules that address diabetes and inflammatory diseases, including: BTI-320, a non-systemic chewable therapeutic compound designed to reduce post-meal glucose elevation, and IPOXYN, an injectable anti-necrosis drug designed initially to treat lower limb ischemia associated with diabetes. More information is available at www.bostonti.com and www.clinicaltrials.gov.
Cautionary Note Regarding Forward Looking Statements
This press release contains, in addition to historical information, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or future financial performance, and use words such as "May," "estimate," "could," "expect" and others. They are based on our current expectations and are subject to factors and uncertainties which could cause actual results to differ materially from those described in the statements. Factors that could cause our actual performance to differ materially from those discussed in the forward-looking statements include, among others that our plans, expectations and goals regarding our clinical development of BTI-320 are subject to factors beyond our control. We can provide no assurance that we or our commercial partners will be able to generate market demand for BTI-320, and thus we may not be able to generate revenue from sales.
Moreover, we have incurred operating losses since our inception, and our ability to successfully develop, market, manufacture, distribute and sell drugs or over-the-counter products may be affected by our ability to manage costs and finance our continuing operations. For a discussion of additional risk and other factors affecting our business, see our Annual Report on Form 10-K for the year ended December 31, 2014, and our subsequent filings with the SEC.
You should not place undue reliance on forward-looking statements, and actual results may differ materially from the results anticipated in our forward-looking statements. Although subsequent events may cause our views to change, we disclaim any obligation to update forward-looking statements.
© Boston Therapeutics, Inc. All rights reserved.
Source: Boston Therapeutics
Source: Boston Therapeutics