This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oculus Innovative Sciences Provides Second Half CY 2012 Business Update

Secondly, Oculus signed a licensing agreement with AmDerma/Quinnova to develop and commercialize Oculus' novel proprietary Microcyn® Technology drug compounds for major dermatological conditions, including acne. The exclusive agreement includes licensing of the dermatology compounds in the United States and India. The product formulation is nearing finalization. AmDerma/Quinnova will be responsible for the development costs for the acne formulation as well as other dermatological compounds. 

Future Planned Partnerships

Duplicating the successful blueprint of the FY 2013 partnerships, Oculus is working to secure a series of CE mark approvals for use of its various product formulations in the treatment of wounds and dermatology indications. The added CE mark approvals will provide a significant opportunity for potential partners to quickly commercialize and penetrate the European markets in FY 2014.   

NASDAQ Net Worth Target Achieved/Company Negotiating /Debt Restructured

On November 1, 2012, Oculus disclosed the company achieved a net worth of approximately $4.5 million on a pro forma basis as a result of two transactions as of September 30, 2012. The first transaction was the issuance of $3.5 million in restricted common stock to the company's lender, Western Technology Institute, to be used for the reduction of Oculus' debt liabilities. In the second transaction, Oculus agreed to amend a warrant, held by two of its investors, to remove a provision in the warrant that contained certain cash-settlement features; this was in exchange for extending the warrant by two years. These transactions allowed the company to regain compliance with the $2.5 million stockholders' equity requirement for continued listing on the NASDAQ capital market. 

In the event the company receives a second delisting notice from NASDAQ regarding trading of Oculus stock below the minimum bid price of $1 per share, Oculus intends to request an extension so as to resolve this issue.   

Hoji Alimi, founder and CEO of Oculus said: "Our commitment is to drive the company towards profitability while simultaneously unlocking the value of our drug assets in the areas of acne, surgical and wound care."

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs