Naturade decreases principal amount of notes to $1 million from $1.49 million

By Sheri Kasprzak

New York, June 5 - Naturade, Inc. said the principal of notes issued in July 2005 was decreased to $1 million from $1,492,360.

The 7% notes are held by Quincy Investments Corp., Symbiotics, Inc. and Symco, Inc.

The payment schedule of the notes was amended so that the company pays $33,000 in monthly payments through Nov. 15, 2008.

The payment scheduled had been arranged so that a $10,000 monthly payment was due between July 2006 and May 2007 with a balloon payment of $450,000 due June 1, 2007 and a $5,000 monthly payment was due from July 2007 through May 2008 with a balloon payment of $476,305 due June 1, 2008.

Connected to the amendment, Symco received 500,000 shares of common stock and 6,000 shares of series D preferred stock by Aug. 31, 2006. Each preferred is convertible into 200 common shares.

Based in Irvine, Calif., Naturade produces health supplements.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.