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Showcasing a Turnaround

Member: Richard Coyle

Client: Pharmaceutical Formulations, Inc. [OTC: PFI]

Challenge: Differentiate turnaround private label, $80m generic drug company against 200+ peers to create "special situation" investment banking relationship, institutional recapitalization, debt retirement and subsequent NASDAQ listing.

Strategy: Initiated news release, in-person outreach program to trade press, micro-cap regional brokers and banks to attract support for reverse split/rights offering and preferred stock buy-back plan.

Results:

• Turnaround story heralded in Wall Street Transcript, Cheap Investor, Mass Market Retailing, FDC Reports, OTC Business News, quarterly and annual shareholder reports and extensive monthly direct mail
• first-ever road show attracting market makers, brokers, fund managers, investment bankers and sell-side analysts
• contact presentations to i-banker firms Jesup & Lamont, Continium Capital, Freimark-Blair, Barber & Bronson, M.S. Farrell, M.H. Meyerson, J.W. Charles, RAS Securities
• invitations to present at industry leading Dillon Read healthcare conference, Red Chip Review
• orchestrated block purchase of stock overhang