Allendale Pharmaceuticals, Inc. is a private company. However, it does have approximately 100 investors. The company is now in the midst of raising $500,000 to $750,000 pre-FDA approval. Following FDA approval, the company will raise approximately $10,000,000 at a higher valuation.
The current financial raise and sale of the Shares is intended to be exempt from registration under the Securities Act of 1933 (the "Act") by virtue of Section 4(2) of the Act and the provisions of Regulation D.
Under the Act, the investor must have the financial ability to bear the economic risk of the investment, have adequate means for providing for his/her current needs and personal or other contingencies and has no need for liquidity with respect to his/her investment in the Allendale.
The investor must be a person whose net worth, individually or jointly with his or her spouse, at the time of purchase exceeds $1,000,000 inclusive of the value of home, home furnishings and automobiles); or has an individual annual adjusted gross income in excess of $200,000 in 2003 and/or 2004 or whose joint income with that personís spouse exceeded $300,000 in either of those years, and who has a reasonable expectation of reaching the same income level in 2005.
The current minimum investment is $50,000.00. Following FDA approval the minimum investment will be increased substantially.
If anyone is interested in making a private investment, contact Gene Detroyer, President and CEO at [email protected] or 212.813.2171.