NASAL MIST, INC.
The Company formed a subsidiary, Nasal Mist, Inc. (NMI), in August 1997 to raise
between $300,000 and $600,000; as of December 31, 1997, $203,862 had been raised
for the marketing development of Feverfew Nasal Mist and other nasal spray
products.
NMI is a special purpose company organized solely for the purpose of providing
capital to LAJD for the production and marketing of herbal nasal sprays. NMI and
LAJD have agreed that in exchange for NMI providing all net proceeds of this
offering to LAJD, LAJD will grant to NMI a license and right to receive from
LAJD and its successors-in-interest, from time-to-time, an amount equal to 10%
of the net sales (half of which will come back to LAJD) less commissions and
discounts of nasal sprays sold by LAJD and its successors-in-interest.
NMI does not anticipate having any other sources of revenue.
After utilization of all proceeds provided by NMI to LAJD, all operational costs
will then be the responsibility of LAJD, with the exception of internal legal,
accounting, administrative costs, along with associated overhead, and tax
obligations of NMI.
The first nasal spray being introduced by NMI is the patent pending Feverfew
Nasal Mist (the product), a spray containing the herb feverfew.
While the product is being sold as a moisturizing nasal spray, feverfew is an
herb which has been used for centuries as a folk remedy for the treatment of the
symptoms of migraine headaches. LAJD intends to investigate the possibility of
using the product for aid in alleviation of migraines symptoms, as well as a
relief of menstrual headache symptoms, which may have the same etiology as
migraine headaches.
Feverfew Nasal Mist is formulated using the exclusive patented clustered water
system, which enhances bio-availability. The technology is used with other LAJD
products, and may be used in other future nasal sprays the Company plans to offer. |
