MedPro Safety Products, Inc. Enters into an Amendment to Series D Senior Secured Promissory Note; Announces Executive and Directorate Changes
December 30, 2013 at 09:05 pm
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MedPro Safety Products, Inc. and its principal shareholder Vision Opportunity Master Fund Ltd. entered into an amendment to MedPro's Series D Senior Secured Promissory Note. The amendment extends the maturity date of the Series D Note from December 31, 2013 to March 31, 2014 and increases the interest rate on the outstanding principal balance of the Series D Note from 10% to 15% during the extension period. All other terms and conditions of the Series D Note remain unmodified and in full force and effect. In addition, MedPro granted VOMF the right to appoint one member to MedPro's board of directors any time there remains outstanding principal on the Series D Note. The outstanding principal balance of the Series D Note is currently $4,310,000.
On December 23, 2013, Marc T. Ray resigned from his position as MedPro's Chief Financial Officer and Vice President of Finance, effective immediately. The company has not designated a successor at this time. On December 12, 2013, Andrew P. Merkatz resigned as a director of the company. Mr. Merkatz had served as the designated representative of VOMF on MedPro's board of directors since March 18, 2013.
Medpro Safety Products, Inc. is a United States-based company, which is engaged in supplying medications. The Company provides home delivery, pickup at the local pharmacy, and offers for buying tramadol online. Its customers can purchase tramadol online with no prescription. Tramadol is an oral medicine that helps ease moderate to severe pain. Tramadol is like opioid (narcotic) analgesics. Tramadol comes under brands, such as Ultram, Ultram ER, Ryzolt, and ConZip. Its other products include Fioricet, Gabapentin, Meridia, Valium, Soma Carisoprodol, Xanax, and Tapentadol. Fioricet is used to treat tension headaches caused by muscle contractions. Gabapentin is an antiepileptic drug that acts on the central nervous system. Meridia's main use is as a diet pill prescribed to help those that are obese to lose weight. Valium is for anxiety or anxiety-related disorders. Soma Carisoprodol is a central medicine indicated mainly for short-term treatment of acute pain in the lumbar region.