Business Context and Reporting Period
This Form 8-K is filed by Bond Laboratories, Inc. (noted in metadata as FITLIFE BRANDS, INC.) for the reporting period ending September 28, 2010. The filing reports corporate governance changes effective as of September 28, 2010.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel appointments and does not contain financial statements.
Material Changes
Effective September 28, 2010, the Company appointed two new members to its Board of Directors:
- Lewis Jaffe: Principal of Jaffe & Associates, with prior experience as Interim CEO of Oxford Media, Inc. and Managing Director at Arthur Andersen.
- Michael Abrams: Currently serving as Interim Chief Financial Officer since August 20, 2009, and Managing Director of Burnham Hill Partners LLC.
These appointments were made pursuant to a Common Stock and Warrant Purchase Agreement dated June 26, 2008, which grants purchasers from the 2008 Financing the right to designate two board members.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or specific risk factors. It notes that Mr. Abrams serves as Interim CFO under a consulting agreement with Burnham Hill Advisors LLC, which is set to terminate on August 20, 2011, unless a permanent CFO is appointed.
Investor Verification Checklist
- Verify the current corporate name and ticker symbol, as the filing header lists "Bond Laboratories, Inc." while metadata references "FITLIFE BRANDS, INC."
- Confirm the status of the Interim CFO role and whether a permanent successor has been appointed since the filing date.
- Review the terms of the 2008 Financing agreement to understand the voting rights and board composition requirements.
- Check subsequent filings for the 2011 Annual Meeting results regarding the election of these directors.