MTXX - Matrixx Initiatives, Inc. (NASDAQ Stock) - Page 2 - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

**BadThad** · #11 07-02-2009, 03:56 PM

If this whole thing shakes out as minor, this stock will absolutely skyrocket.

**BadThad** · #12 07-19-2009, 12:29 AM

EDIT - Legal spammer post deleted, gg There must be 20 law firms trying to sue this poor company. When will idiots learn that's it's your fault for investing and losing money. America disgusts me sometimes, it's always someone else's fault when you lose money in the market. You knew the risk, you lost and now you sue a perfectly good company because you're an idiot.

Wow...they really put you out there to spam for a legal firm or are you just being a good forum member?

Just for the record, I really dislike attorney's doing this sort of thing. It destroys American businesses and only benefits the lawyers involved. When it's all said and done, if they win, they collect millions while the average Joe investor gets a check for $3. In fact, it's a lose-lose for us investors because it can bring the stock price down and damage the very company we're invested in.

davecash77 · #13 09-04-2009, 11:42 AM

Pete Najarian talked about it this morning CNBC - at 7:40 and 7:50 am today talked about 2 things very important - 1.H1N1 being on the cards - If MTXX will come with the new version of ZICOM then the stock huge high side potential. 2.There are 5 health care confernces comming up so MTXX is one that has high visibility in the Health Care sector....

Twitter post: stated CNBC: Nararian was taking a position (MTXX)in hopes of good news.
Please confirm for yourself. see twitter post 7:08 am

I took a position right at open MTXX @$5.90

**BadThad** · #14 11-09-2009, 04:25 PM

Earnings report from 06NOV2009:

Quote:

Matrixx Initiatives Inc. (MTXX) filed Quarterly Report for the period ended 2009-09-30.

Matrixx Initiatives Inc. is an innovative nutrient and drug delivery technology company engaged in the development manufacture and marketing of delivery systems for bioactive compounds. Gel Tech LLC its wholly-owned subsidiary produces markets and sells Zicam Cold Remedy nasal gel a patented homeopathic remedy that significantly reduces the duration and severity of the common cold and Zicam Allergy Relief nasal gel a homeopathic remedy designed to provide relief to allergy sufferers. Matrixx Initiatives Inc. has a market cap of $40 million; its shares were traded at around $4.23 with a P/E ratio of 8.7 and P/S ratio of 0.4.

Highlight of Business Operations:
Net sales for the fiscal second quarter ended September 30, 2009 decreased 24% to $25.6 million compared to $33.6 million in the prior year’s second quarter. The lower sales comparison is primarily due to the loss of our nasal Cold Remedy products. U.S. unit sales of our other Zicam products increased 11%, lead by a 53% increase in Cold Remedy oral products. Additionally, we realized a higher average selling price during the quarter, compared to the prior year, netting approximately $1.5 million of increased sales. The higher average selling price was due to the mix of products sold and a price increase that became effective during the quarter ended September 30, 2008.

Net income for the quarter ended September 30, 2009 was $5.1 million, or $0.55 per diluted share, compared to net income of approximately $8.2 million, or $0.86 per diluted share, for the quarter ended September 30, 2008. Net income for the quarter ended September 30, 2009 includes a charge of $1.6 million associated with the withdrawal of Zicam sales in Canada as well a write-down of $423,000 for Canadian product inventory. In addition, legal expense (for product liability litigation, responding to the FDA warning letter, and the SEC informal inquiry, and litigating claims with one of its former manufacturers) increased approximately $1.6 million to approximately $2.4 million during the quarter, compared to the prior year. We anticipate future legal expense will average approximately $2.0 million per quarter.

The Company incurred a net loss for the six months ended September 30, 2009 of approximately $(17.8) million, or $(1.93) per diluted share, compared to net income of $6.0 million, or $0.62 per diluted share, for the six months ended September 30, 2008. This $23.8 million income decline includes pre-tax charges associated with the FDA warning letter and recall of our nasal Cold Remedy products. The charges include $9.0 million to reserve for recall related costs and $23.9 million for goodwill and other asset impairments in the quarter ended June 30, 2009. Net income for the six months ended September 30, 2008 included a $1.9 million reserve for charges associated with a previously reported recall of certain lots of Zicam Cold Remedy RapidMelt™ and ChewCap™ products.

The determination of fair value requires the use of significant judgment and estimates about assumptions that management believes were appropriate in the circumstances, although it is reasonably possible that actual performance will differ from these assumptions. The most significant assumptions included those relating to our ability to sell nasal gel Cold Remedy products in the future, our ability to introduce new nasal products, sales expectations of our other swab products, and market trading multiples for the Company. These charges include: a non-cash impairment charge of $15.0 million related to the goodwill associated with the acquisition of zincum gluconium nasal gel products and $616,000 for the unamortized amount of our Cold Remedy nasal gel patent. These charges were recorded in the quarter ended June 30, 2009 and are reflected in asset impairments in our Consolidated Statements of Operations for the six months ended September 30, 2009. In addition, due to our inability to commercialize our oral care product, we recorded a charge of $420,000 to write down the value of patents and certain other assets associated with the development of an oral care product developed to reduce tartar. We do not anticipate launching this product on our own and determined the assets associated with the product’s development were impaired. This charge was recorded in research and development expense.

SG&A expense for the quarter ended September 30, 2009 increased to approximately $10.2 million from approximately $8.8 million in the quarter ended September 30, 2008. The higher SG&A expense is due to a $1.6 million charge recorded in the quarter ended September 30, 2009, to account for costs and charges related to the withdrawal of Zicam products from Canada. During the comparable quarter of the prior year, there was a $900,000 charge due to a recall of certain oral Cold Remedy products. Marketing expense decreased approximately $1.2 million compared to the second fiscal quarter of 2008. Marketing expense for allergy/sinus products and our previous antacid product was approximately $1.8 million less, while Cold Remedy marketing expense increased approximately $700,000. There was an increase in labor expense of approximately $450,000 associated with employee retention plans. We expect SG&A expenses in future periods will vary largely in relation to the level of our advertising and legal expenditures.

Legal expense (for product liability litigation, responding to the FDA warning letter, and the SEC informal inquiry, and litigating claims with one of our former manufacturers) increased approximately $1.6 million to approximately $2.4 million during the quarter, compared to the prior year. We anticipate future legal expense will average approximately $2.0 million per quarter (see Note 7-“Legal Proceedings” for additional information).

Current stock price: $4.13

**BadThad** · #15 11-09-2009, 04:30 PM

Technically this stock is massively over sold. It's trading around the 52 week low of $4.00.

**BadThad** · #16 11-17-2009, 08:21 PM

Stock down a couple more percent today, closed at 3.93.