INTELLECT NEUROSCIENCES, INC. Files SEC form 10-Q, Quarterly Report

Show all filings for INTELLECT NEUROSCIENCES, INC. | Request a Trial to NEW EDGAR Online Pro Form 10-Q for INTELLECT NEUROSCIENCES, INC. 16-Nov-2009Quarterly Report Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, ...
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INTELLECT NEUROSCIENCES, INC. Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue -   -  3,017  1,000  Cost of Revenue -   -   -   -  Gross Profit -   -  3,017  1,000  Operating ExpensesResearch Development(65)145  38  327  Selling General and Administrative649  786  935  951  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(584)(932)2,044  (278)Income from Continuing OperationsTotal Other Income/Expenses Net1,204  (1,545)1,364  2,405  Earnings Before Interest And Taxes620  (2,477)3,409  2,127  Interest Expense496  475  458  402  Income Before Tax124  (2,952)2,950  1,724  Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops124  (2,952)2,950  1,724  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting...
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INTELLECT NEUROSCIENCES, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENTS'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis should be read in conjunction with the Consolidated Financial Statements included elsewhere in this report and the information described under the caption "Risk Factors" and "Special Note Regarding Forward Looking Statements" above. General We are a biopharmaceutical company developing and advancing a patent portfolio related to specific therapeutic approaches for treating Alzheimer's disease ("AD"). In addition, we are developing proprietary drug candidates to treat AD and other diseases associated with oxidative stress. . Since our inception in 2005, we have devoted substantially all of our efforts and resources to advancing our intellectual property portfolio and research and development activities. We have entered into license and other agreements with large pharmaceutical companies related to our patent estate, however, neither we nor any of our licensees have obtained regulatory approval for sales of any product candidates covered by our patents. We operate under a single segment. Our fiscal year end is June 30. Our core business strategy is to leverage our intellectual property estate through license and other arrangements and to develop our proprietary compounds that we have purchased, developed internally or in-licensed from universities and others, through human proof of concept (Phase II) studies or earlier if appropriate and then seek to enter into collaboration agreements, licenses or sales to complete product development and commercialize the resulting drug products. Our objective is to obtain revenues from licensing fees, milestone payments, development fees and royalties related to the use of our intellectual property estate and the use of our proprietary compounds for specific therapeutic indications or applications. In May 2008, we entered into a License Agreeme...
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INTELLECT NEUROSCIENCES, INC. Files SEC form 8-K, Creation of a Direct Financial Obligation or an Obligation under an

Item 2.03. Creation of a Direct Financial Obligation. On August 12, 2009, Intellect Neurosciences, Inc. (OTCBB: ILNS) (the "Company") issued and sold a 10% Senior Promissory note (the "Note") with a principal amount of $450,000, resulting in net proceeds to the Company of approximately $360,000. The Note was sold to an "accredited investor" (as defined in Section 2(15) of the Securities Act of 1933, as amended (the "Securities Act"), and Rule 501 promulgated thereunder) in an offering exempt from registration under Section 4(2) of the Securities Act and Rule 506 promulgated thereunder. The Note bears interest at 10% annually and matures upon the earlier of 6 months from the date of the Note or the closing of an equity financing with gross proceeds to the Company of at least $1,125,000 (the "Liquidity Event"). The payment and performance obligations of the Company under the Note are guaranteed by Margie Chassman, a principal shareholder of the Company. In consideration of the guaranty provided by Ms. Chassman, the Company paid her a fee of $30,000. As additional consideration to repayment of the Note and interest in cash, the purchaser of the Note will receive at maturity or early repayment of the Note either (1) a number of shares of common stock, par value $0.001, of the Company (the "Shares"), equal to the quotient of the principal amount of the Note divided by 0.15; or (2) warrants to purchase a number of shares of common stock, par value $0.001, of the Company (the "Purchaser Warrants"), equal to the quotient of the principal amount of the Note divided by 0.15, at an exercise price equal to $1.75 per share, as adjusted upon the occurrence of certain events as set forth in the Purchaser Warrant. If the Liquidity Event occurs on or prior to the maturity date of the Note, the purchaser will receive Shares. If the Liquidity Event has not occurred on or prior to the maturity date of the Note, the purchaser will...
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INTELLECT NEUROSCIENCES, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENTS'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of our financial condition and results of operations contains information that management believes is relevant to an assessment and understanding of our results of operations. You should read this discussion in conjunction with the Financial Statements and Notes included elsewhere in this report and with Management's Discussion and Analysis of Financial Condition and Results of Operations for the period ended June 30, 2008 contained in our Current Report on Form 10KSB/A, filed with the Securities and Exchange Commission (the "SEC") on November 6, 2008 (the "Original Filing"), which Original Filing was amended by a Form 10-KSB/A filed on November 7, 2008, further amended by a Form 10-KSB/A filed on February 26, 2009, and further amended by a Form 10-K/A filed on March 27, 2009. Certain statements set forth below constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. See "Special Note Regarding Forward-Looking Statements" and "Risk Factors" appearing elsewhere in this Report. References to "Intellect," the "Company," "we," "us" and "our" refer to Intellect Neurosciences, Inc. and its subsidiaries. General We are a biopharmaceutical company conducting research and developing our own proprietary drug candidates to treat Alzheimer's disease ("AD") and other diseases associated with oxidative stress. In addition, we have accumulated and are advancing a patent portfolio related to specific therapeutic approaches for treating AD. Since our inception in 2005, we have devoted substantially all of our efforts and resources to research and development activities and advancing our intellectual prop...
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INTELLECT NEUROSCIENCES, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement

Show all filings for INTELLECT NEUROSCIENCES, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for INTELLECT NEUROSCIENCES, INC. 1-May-2009Entry into a Material Definitive Agreement Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for infor...
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INTELLECT NEUROSCIENCES, INC. Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Show all filings for INTELLECT NEUROSCIENCES, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for INTELLECT NEUROSCIENCES, INC. 4-Mar-2009Other Events, Financial Statements and Exhibits Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is"...
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INTELLECT NEUROSCIENCES, INC. Files SEC form 10KSB/A, Annual Report

ITEM 6. MANAGEMENTS'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis should be read in conjunction with the "Selected Financial Data" and the Consolidated Financial Statements included elsewhere in this report and the information described under the caption "Risk Factors" and "Special Note Regarding Forward Looking Statements" above. General We are a biopharmaceutical company conducting research and developing our own proprietary drug candidates to treat Alzheimer's disease ("AD") and other diseases associated with oxidative stress. In addition, we have developed and are advancing a patent portfolio related to specific therapeutic approaches for treating AD. Since our inception in 2005, we have devoted substantially all of our efforts and resources to research and development activities and advancing our intellectual property portfolio. We have no product sales through June 30, 2008. We operate under a single segment. Our fiscal year end is June 30. Our core business strategy is to leverage our intellectual property estate through license and other arrangements and to develop our proprietary compounds that we have purchased, developed internally or in-licensed from universities and others, through human proof of concept (Phase II) studies or earlier if appropriate and then seek to enter into collaboration agreements, licenses or sales to complete product development and commercialize the resulting drug products. Our objective is to obtain revenues from licensing fees, milestone payments, development fees and royalties related to the use of our intellectual property estate and the use of our proprietary compounds for specific therapeutic indications or applications. In May, 2008, we entered into a License Agreement with AHP MANUFACTURING BV, acting through its Wyeth Medica Ireland Branch, ("Wyeth") and ELAN PHARMA INTERNATIONAL LIMITED ("El...
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