October 22, 2010 Michelex Due Diligence
posted on
Dec 07, 2010 09:19AM
Edit this title from the Fast Facts Section
DD was created by harr449. More recent information may be available so do your own due diligence.
CEO Albert Lacle
Michelex Corporation
204 Haledon Ave,
Prospect Park, New Jersey 07058
MICHELEX CONSTITUTED NEW BOARD AND CEO
[Jul 10, 2010]
MICHELEX SHAREHOLDERS HAVE CONSTITUTED A NEW BOARD OF DIRECTORS. THE NEW BOARD HAS APPOINTED NEW CEO, MR. ALBERT LACLE.
Mr. Lacle’, a seasoned hotel sales and marketing executive, trained with such industry giants as Intercontinental Hotels, Holiday Inn Corporation and Hilton Hotels, he held positions of Vice President of Sales and Marketing for the Sands Casino Hotel, Senior Vice President of Marketing with Inter-Hotels Hospitality Services and Executive Director of Marketing for the Trump Taj Mahal in Atlantic City. Mr. Laclé studied marketing at Cornell University and holds a degree in Hotel Management. He speaks fluent English, Spanish, Dutch, and Papiamento.
THOMAS GRAMUGLIA HAS RETIRED AS CEO
[Jul 01, 2010]
PURSUANT TO THE ACQUISITION OF UNITED MORTGAGE BANKERS LTD BY MICHELEX, THOMAS GRAMUGLIA HAS RETIRED AS CEO OF MICHELEX
About Us
Michelex Corporation founded in 1972, comprised of a diversified portfolio of businesses viz:Financial Services, Pharmaceutical Drug Manufacturing and Distribution.
Investor Relations
Contact: investorrelations@michelex.com
Transfer Agents; Colonial Stock Transfer, 66 Exchange Place, Salt Lake City, Utah 84111
Company News - Per Michelex.com and Pristinepharmacorp.com
Oct 19, 2010 MICHELEX ANNOUNCES COMMENCEMENT OF DELIVERIES OF ORDERS TO CUSTOMERS BY PRISTINE PHARMA
Michelex Corporation (ticker symbol:PINK SHEETS MLXO) (“Michelex”) announced that its wholly owned subsidiary, Pristine Pharma Corporation, has started deliveries of OTC pharmaceutical products to its customers who are export distributors. These products are currently contract manufactured at FDA registered pharmaceutical plants in New Jersey and New York.
In further news, Michelex has started moving the pharmaceutical manufacturing assets of Pristine Pharma Corporation to its own facility in the State of New York. The facility, lease-purchased by Pristine Pharma, where all the lease payments will be applied towards the purchase price, is comprised of 32,000 sq ft. of very well laid out building, suitable for pharmaceutical drug manufacturing and is situated on approximately 4.2 acres of land in an industrial zone. The manufacturing area of the building needs very little modifications for pharmaceutical drug manufacturing and the whole facility is in ready to move-in condition. It is expected that the move will be completed by the end of October. Pristine Pharma is expected to commence production of OTC pharmaceutical products at its own facility within 6 weeks.
MICHELEX
Michelex Corporation, founded in 1999, is currently comprised of subsidiaries with a diversified portfolio of businesses viz:Financial Services, Pharmaceutical Drug Manufacturing and Distribution.
PRISTINE
Pristine Pharma sells Over The Counter pharmaceutical products in store brand, private label and in its own control label, ‘NUMED.’ Pristine Pharma is holding purchase orders for its line of OTC pharmaceutical products, worth over $2.8 million from its domestic customers, as well as export distributors.
http://michelex.com/html/index.aspx?p32sda=news&psdge87d=204&tl97abi=42&nsd=11
Aug 23, 2010 - MICHELEX SHARE STRUCTURE
Authorized:1,000,000,000 common shares.
Issued, subscribed and paid up:1,000,000,000 common shares.
Restricted Shares:Restricted shares owned by officers and directors are about 18 percent.
Float: Other than the 18 % restricted, rest of the shares are freely tradable or would be in very near future.
Authorized Preferred shares:10,000 Preferred shares,
Issued, subscribed and paid up; 10,000 Preferred shares
All of the preferred shares are restricted.
August 19, 2010 - Michelex (PK: MLXO) Acquires United Mortgage Bankers and Pristine Pharma
NEW YORK, NY--(Marketwire - 08/19/10) - Michelex Corporation (Pinksheets:MLXO - News) ("Michelex") announced that it has acquired all of the issued and outstanding shares of United Mortgage Bankers, Ltd. d/b/a United Merchant Bankers, ("United") a financial services company in Stamford, CT. As a result of the acquisition, United became a subsidiary of Michelex.
As part of the acquisition, a new Board of Directors of Michelex has been constituted. Mr. Thomas Gramuglia has retired as the CEO of Michelex and Mr. Albert Laclé has been appointed as the new CEO of Michelex.
Mr. Laclé is a seasoned hotel sales and marketing executive, trained with such industry giants as Intercontinental Hotels, Holiday Inn Corporation and Hilton Hotels. He held positions of Vice President of Sales and Marketing for the Sands Casino Hotel, Senior Vice President of Marketing with Inter-Hotels Hospitality Services and Executive Director of Marketing for the Trump Taj Mahal in Atlantic City. Mr. Laclé studied marketing at Cornell University and holds a degree in Hotel Management. He speaks fluent English, Spanish, Dutch, and Papiamento.
In further news, Michelex through United has also acquired all of the issued and outstanding shares of Pristine Pharma Corporation ("Pristine"), a start-up Pharmaceutical manufacturing enterprise located in Central New Jersey. As a result of the acquisition, Pristine became a subsidiary of Michelex.
MICHELEX
Michelex Corporation, founded in 1999, is currently comprised of subsidiaries with a diversified portfolio of businesses viz: Financial Services, Pharmaceutical Drug Manufacturing and Distribution.
UNITED
United has $3.0 million paid up capital besides having $10.5 million in funds for investment into projects. United contemplates to focus on receivables factoring and project financing.
PRISTINE
Pristine sells Over The Counter pharmaceutical products in store brand, private label and its own control label, 'NUMED.' United has invested $1 million of working capital into Pristine, while another $3.5 million funding in the form of a convertible note was provided by a boutique hedge fund based in New York for the acquisition of manufacturing assets -- equipment, formulations and inventory.
Mr. Laclé stated that, "I am very confident that with over 100 years of combined experience of the executives who are now sharing the responsibilities with me to develop Michelex as a viable entity, I believe we will prove worthy of shareholders' expectations."
finance.yahoo.com/news/Michelex-PK-MLXO-Acquires-iw-4045335977.html
8-16-2010 Michelex Filed 8-K
On Friday the 13th August, 2010, Michelex has filed the following Form 8-K with the SEC pursuant to the Securities Exchange Act of 1934, informing the change of office address, Directors and Officers:
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
In May 2010, Thomas Gramuglia, the Registrant’s sole officer and director resigned from the Company. The Company’s new board of directors consists of Albert Lacle’, Midhat H. Syed, Esq. and Darshan Shah. The Registrant’s new officers are Albert Lacle’ as President, Midhat H. Syed, Esq. as Secretary and Darshan Shah as Treasurer.
Item 8.01 Other Matters
Change of Address: The Company has changed its address and telephone number. The new address and telephone number are: 204 Haledon Avenue, Prospect Park, New Jersey 07508, 732-485-1400.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunder duly authorized.
Michelex Corporation
\s\ Albert Lacle’
Albert Lacle’, President
PRISTINE OBTAINED ORDERS WORTH $1.8 MILLION
[Aug 04, 2010]
PRISTINE PHARMA CORPORATION, A SUBSIDIARY OF MICHELEX, OBTAINED PURCHASE ORDERS FOR ITS NUMED BRAND PHARMACEUTICALS FROM DOMESTIC DISTRIBUTORS WORTH OVER $1.8 MILLION.
MICHELEX ACQUIRED PHARMACEUTICAL COMPANY
[Jul 30, 2010]
MICHELEX HAS ACQUIRED 100% OF THE OUTSTANDING SHARES OF PRISTINE PHARMA CORPORATION, A PHARMACEUTICAL MANUFACTURING AND DISTRIBUTION COMPANY THAT SELLS BOTH PRIVATE LABEL AND ITS OWN NUMED BRAND LABEL PHARMACEUTICALS. THE MANAGEMENT OF PRISTINE PHARMA IS VERY WELL EXPERIENCED IN EXPORT OF PHARMACEUTICAL DRUGS FROM USA AND ARE WELL REGARDED BY BOTH US DEPARTMENT OF COMMERCE AND NJ ECONOMIC DEVELOPMENT AUTHORITY FOR THEIR EXPERTISE IN EXPORTING US MADE PRODUCTS.
July 30, 2010 - MICHELEX CORPORATION ACQUIRED PPC
MICHELEX CORPORATION, A PUBLIC COMPANY, TRADING ON THE OTC PINK SHEETS (MLXO.PK) HAS ACQUIRED 100% OF THE OUTSTANDING SHARES OF PRISTINE PHARMA CORPORATION
July 15, 2010 - UNITED INVESTED $1.0 MILLION INTO PPC
UNITED MORTGAGE BANKERS, A DIVISION OF MICHELEX CORPORATION (MLXO:OTC PINK SHEETS) INVESTED $1.0 MILLION INTO THE WORKING CAPITAL OF PPC.
MICHELEX INVESTED $1.0 MILLION INTO PRISTINE PHARMA CORPORATION
[Jul 15, 2010]
MICHELEX, THROUGH ITS WHOLLY OWNED SUBSIDIARY, UNITED MERCHANT BANKERS, HAS INVESTED $1.0 MILLION INTO THE WORKING CAPITAL OF PRISTINE PHARMA CORPORATION, A PHARMACEUTICAL DRUG MANUFACTURING AND DISTRIBUTION COMPANY
July 1, 2010 - PPC ACQUIRED MANUFACTURING ASSETS
PRISTINE PHARMA CORPORATION HAS ACQUIRED THE MANUFACTURING ASSETS OF A LIQUID & SOLID DOSE PHARMACEUTICAL COMPANY. MORIAH CAPITAL LP, A BOUTIQUE FUND IN NEW YORK HAS PROVIDED $3.5 MILLION FUNDING FOR THE ACQUISITION, WHERE IN PRISTINE PHARMA CORPORATION HAS SIGNED A 3 YEAR MANDATORILY CONVERTIBLE PROMISSORY NOTE IN FAVOR OF MORIAH CAPITAL
PRISTINE WAS FUNDED $3.5 MILLION
[Jul 01, 2010]
PRISTINE PHARMA CORPORATION, a subsidiary of MICHELEX was funded $3.5 million by a New York based boutique hedge fund, for the acquisition of manufacturing assets - equipment, formulations and inventory.
MICHELEX ACQUIRED UNITED MORTGAGE BANKERS Ltd.
[Jul 01, 2010]
MICHELEX ACQUIRED 100% OF THE OUTSTANDING SHARES OF UNTED MORTGAGE BAKERS (Ltd) d/b/a UNITED MERCHANT BANKERS, A FINANCIAL SERVICES ORGANIZATION.
United has $3 million in paid up capital and $10.5 million in funds for investment. United will stay as a subsidiary of Michelex.
November 16, 2009 - PPC INTRODUCED NUMED BRAND
PRISTINE PHARMA HAS EXHIBITED IN THE PRIVATE LABEL MANUFACTURING ASSOCIATION TRADE SHOW IN CHICAGO FROM NOVEMBER 15 TO 17th, 2009, AT THE ROSEMONT CONVENTION CENTER. PPC HAS INTRODUCED ITS NUMED BRAND OF OVER THE COUNTER PHARMACEUTICALS AT THE TRADE SHOW.
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EMAIL CORRESPONDENCE:
Email reply from CEO Albert Lacle regarding the status of a "possible" change in the company name and possible change for the ticker symbol; also the status of a possible PR.
and reply from Investor Relations regarding the current office address and the updated status on the release of a formal PR.
RE: Michelex CEO??
To 'harry'
From: Albert Lacle
Sent: Mon 8/09/10 12:45 AM
To: 'harry' (harr449@hotmail.com)
Thank you for your interest in your company's affairs.
There will be no change in the name of the company nor its symbol.
The news has been passed on to the media for publication, we will post a copy of the same on Company's web page as well.
Please do visit the company's web site for all latest news.
With best regards,
Albert Laclé
From: harry [mailto:harr449@hotmail.com]
Sent: Saturday, August 07, 2010 9:40 AM
To: alacle@xxx.com
Cc: harr449@hotmail.com
Subject: Michelex CEO?
Mr. Lacle,
A July 10, 2010 "News" story posted in the following website states that you have been appointed as the new CEO for Michelex Corp.
http://michelex.com/html/index.aspx?p32sda=news&psdge87d=204&tl97abi=42&nsd=3
It also contains news about Pristine Pharma Corp., United Mortgage Bankers, and United Merchants Bank.
http://michelex.com/html/index.aspx?p32sda=news&psdge87d=204&tl97abi=42
As a shareholder in Michelex (MLXO.PK), I'd like to know if you can verify these stories. If these are true, can you provide me with details regarding a public statement? Shareholders like myself would like to know more about the new Michelex. Also, will the ticker symbol and company name change in the near future?
***************************************************************
08.13.10
Dear Harry,
Sorry for the delay in replying to your questions.
The PR wire firms are in the processing of verifying the updated Michelex information, from various sources, which is taking longer time than expected. They will establish an account for Michelex as soon as they complete their verification and publish the Press Release. We are expecting this process to be completed in the next few days.
Michelex occupies part of the building at 204-Haledon Ave., Prospect Park, NJ 07508. This facility owned by one of our Advisors, is currently being used by Michelex without any lease or rental cost. As soon as an opportunity to relocate is available, Michelex will move to a suitable location.
Thank you for your patience.
Best regards,
IR team.
From: harry [mailto:harr449@hotmail.com]
Sent: Wednesday, August 11, 2010 8:41 PM
To: investorrelations@michelex.com
Subject: MLXO PR
CEO Lacle told me 2 days ago that a PR has been sent to the media for publication. When will the PR be released?
Also, many investors from a stock message board are wondering why Michelex is located @ 204 Haledon Ave., Prospect Park, NJ which appears to be occupied by Total Medical Care, Inc. Is this address accurate? It doesn't appear to be an appropriate office location for Michelex per a Google maps search.
*****************************************************************
October 21, 2010
Hi Harry,
Thank for your support to PPC & MLXO.
For the customer types that we serve, the existing information on the products as given on the web site is adequate. However, we will provide more detailed product spec sheets on the web site once we commence production at our facility.
I have visited over 50 operating as well as non-operating pharmaceutical manufacturing facilities in NJ during the past one year. Ironically, NJ has very outdated OTC/ Generic drug manufacturing facilities, most of them are more than 25 years old. The cost and time to make any of those facilities suitable for our OTC manufacturing are estimated to be very high.
On the other hand, the NY facility is in ready to move in condition and has several strategic advantages besides financial, which is why I have approved the facility when Michelex Board offered this facility for PPC to move in. Also, we have a very well qualified manufacturing team available to move to any location. I am confident that PPC will be producing great products from its NY facility soon.
Please feel free to write to me for any questions or suggestions on PPC
Regards,
VENKAT KAKANI
PRISTINE PHARMA CORPORATION
“a Michelex (TS: MLXO) Company”
204 Haledon Ave
Prospect Park, NJ 07508
Cell Ph: 732-485-1400
Ph: 201-977-1177
vkakani@pristinepharmacorp.com
www. pristinepharmacorp.com
www.michelex.com
From: harry [mailto:harr449@hotmail.com]
Sent: Thursday, October 21, 2010 2:57 PM
To: Venkat Kakani
Subject: PPC WEBSITE
Mr. Kakani,
I'm a MLXO shareholder and have contacted you before.
Can you explain why the PPC website is not complete? When I click on a specific product link, it says:
"No Product Details Available At This Time. .
Please Check Back Later".
Also, I'm surprised you are moving to NY after so many yrs. in NJ.
Harry
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Pristine Pharma Corporation
http://www.pristinepharmacorp.com/
Main Office
PRISTINE PHARMA CORPORATION
3587 HWY 9N #508
FREEHOLD, NJ 07728
P: 732.485.1400
F: -.-.-
E: vkakani@pristinepharmacorp.com
PRISTINE PHARMA CORPORATION was founded to supply the US and international Wholesalers, Distributors, Institutional Pharmacies and Retail Chain Store Pharmacies with Liquid & Solid Dose Over The Counter medicines and Prescription drugs.
©2010 NuMed Labs Inc. All Rights Reserved.
NOTE: Numedlabs.com website link takes you to pristinepharmacorp.com
http://numedlabs.com/
NOTE: On August 3, 2010, Venkat Kakani was technical contact for Pristine Pharma Corp. per whois.domaintools.com (shown below). His name was removed the following day.
WHOIS.COM:
Registrant: Pristine Pharma Corporation
3587 HWY 9N #508
FREEHOLD, NJ 07728
US
Registrar: DOTSTER
Domain Name: PRISTINEPHARMACORP.COM
Created on: 23-JUL-10
Expires on: 23-JUL-12
Last Updated on: 23-JUL-10
Administrative, Technical Contact:
Kakani, Venkat
Pristine Pharma Corporation
3587 HWY 9N #508
FREEHOLD, NJ 07728
US
732-485-1400
http://whois.domaintools.com/pristinepharmacorp.com
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NEWS:
08/04/2010
PRISTINE OBTAINED ORDERS FROM DOMESTIC DISTRIBUTORS
07/30/2010
MICHELEX CORPORATION ACQUIRED PPC
07/15/2010
UNITED INVESTED $1.0 MILLION INTO PPC
07/01/2010
PPC ACQUIRED MANUFACTURING ASSETS
11/16/2009
PPC INTRODUCED NUMED BRAND
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Venkat Kakani
Current
· CEO at PRISTINE PHARMA CORPORATION
· CEO at NUMED LABS INC
Past
· President & COO at Medico Holdings Inc.
· Vice President at American Standard Products Inc. & E-Z Weld Intl, Inc
CEO, Pristine Pharma Corporation
(Pharmaceuticals industry)
2009 — Present (1 year )
CEO, NUMED LABS INC
(Pharmaceuticals industry)
2009 — Present (1 year )
President & COO, Medico Holdings Inc.
(Pharmaceuticals industry)
January 2001 — September 2009 (8 years 9 months)
Education
· Rutgers, The State University of New Jersey-Newark
· Andhra Pradesh Agricultural Univesity
Source: Linkedin.com
http://www.linkedin.com/pub/venkat-kakani/5/4b8/670
Mr. Kakani, as a founder and executive of Medico and its subsidiary AUM, has demonstrated his strong background and experience as an entrepreneur and manager, while building Medico both domestically and internationally. Since Medicos founding in 2001, Mr. Kakani has utilized his leadership skills, multi-tasking abilities, and operating skills to build the business. Prior thereto, while working at E-Z Weld International, Inc., from 1991 to 2001 and American Standard Products from 1994 until 2001, Mr. Kakani acquired extensive knowledge of business processes and applications, job costing methods and operating techniques that he has successfully applied to Medicos business model during the manufacturing scale-up. Mr. Kakani has established strong relationships with importers, exporters and distributors around the world and is comfortable working within international banking, trade laws and practices. Prior thereto, from 1985 to 1987 Mr. Kakani worked for Syndicate Bank in India as a Lending Officer. Mr. Kakani received his B.S (Ag) degree in 1982 and his M.S (Ag) degree in Genetics in 1985 from Andhra Pradesh Agrl University, India. In 1991, he received his M.B.A. degree from Rutgers University Graduate School of Business School, with major in Finance and International Trade.
Education
· M.B.A. , Finance and International Trade
Rutgers University Graduate School of Management
· M.Sc , GENETICS & PLANT BREEDING
A.P.AGRICULTURAL UNIVERSITY
http://www.zoominfo.com/search#search/profile/person?personId=693958654&targetid=profile
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Investorshub.com MLXO Board Posts re: Venkat Kakani
Posted by: $brich$ Date: Wednesday, August 04, 2010 4:19:14 PM
In reply to: Investo7 who wrote msg# 11978 Post # of 12155
Just got an email from Venkat Kakani, Pristine Pharma, and is now confirmed that what's on the website is indeed true! He said that the formal information release will made by Michelex soon. He is also forwarding my email to the concerned as well:) So, there we have it! CONFIRMED!
I will also be saving this email I received today so if there are any questions, I will have this to back me up!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52975575&txt2find=kakani
Posted by: $brich$ Date: Wednesday, August 04, 2010 4:23:38 PM
In reply to: Investo7 who wrote msg# 11980 Post # of 12155
edit...I normally don't post emails, but here it is. I left out my name along with telephone numbers for Kakani. I'm sure he isn't going to want a load of calls at this time:
Thanks for your inquiry. The information on the web site/s is correct. I believe that formal information release will be made by Michelex soon. I’ll forward your mail to the concerned as well.
Regards,
VENKAT KAKANI
PRISTINE PHARMA CORPORATION
3587 HWY 9N #508
FREEHOLD, NJ 07728
vkakani@pristinepharmacorp.com
www. pristinepharmacorp.com
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52975754&txt2find=kakani