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Product Description

We viagra cena srbija had negative cash flow from operating activities of 2,788,000 and 2,749,000 for the six months ended June 30, 2009 and 2008, respectively. As of June 30, 2009, we had negative working capital of 3,622,000, as compared to 47,000 as of December 31, 2008, representing a net decrease in working capital of approximately 3,575,000. Since the fourth quarter 2007 and continuing throughout 2009, we have significantly reduced clinical development activities on our product candidate pipeline, such that we have limited our expenditures primarily to those required to support our two approved products NitroMisttrade; and Zolpimisttrade; and minor expenditures to support formulation development activities for certain other products, as we did not believe that we had sufficient cash to sustain such activities. Despite this reduction in expenditures for clinical activities, we require capital to uncariae ramulus wirkung viagra our existing organization until such time as clinical activities can be resumed. We received 1,475,000 in gross proceeds on May 30, 2008 from the initial closing of a convertible note financing with certain funds affiliated with ProQuest Investments, and received 2,525,000 in gross proceeds on October 17, 2008, from the subsequent closing of such convertible note financing, collectively referred to herein as the 2008 Financing. The convertible notes issued in the initial closing matured on November 30, 2008 and, in the subsequent closing, matured on April 17, 2009. On November 30, 2008, with respect to the initial closing and on April 17, 2009, with respect to the subsequent closing, the noteholders did not convert the convertible notes issued in such closing into shares of common stock or demand payment of the outstanding principal balance, plus accrued and unpaid interest at a rate of 10 per annum. There can be no assurance whether the noteholders will convert their notes or demand immediate repayment of the convertible notes at maturity. The convertible notes are secured by all of our assets, other than certain excluded assets.

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Detailed information

The Company has filed a responsive pleading denying liability and raising affirmative defenses and intends to vigorously defend this action. Based on the information currently available, the Company is unable to evaluate the likelihood of an unfavorable outcome. Pursuant to a Settlement, Termination and Mutual Release Agreement dated April 13, 2000, 363,636 additional shares were issued in settlement of a lawsuit filed on December 23, 1999 by the former owners of HVE.

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