NEW YORK, Oct. 31 /PRNewswire-FirstCall/ -- Helm Capital Group, Inc. , through its wholly-owned subsidiary Helm Pharmaceutical announced today that it has successfully created a pharmaceutical company that is generating revenue. The company is in the early stages of marketing their first Over-The-Counter product Vibrel for Woman, a female intimate lubricant in gel form.
Helm Pharmaceutical’s further announced that it has agreed to a six month contract to advertise in Oxygen Magazine commencing in the September 2006 edition. Helm expects to expand its advertising campaign over the next year as additional retailers are added to the distribution list. In addition, the company will be appointing a public relations firm focused on creating brand awareness.
During the period of November 2000 through October 2004 the Company conducted no business. Over the course of the past two years the Company’s management has successfully settled existing liabilities and reduced the number of outstanding shares of preferred stock by exchanging Company assets and shares of common stock. As previously announced on January 14, 2005, management has raised capital by issuing shares of common stock. After giving effect to the number of shares of common stock that are expected to be issued in these financing transactions and exchange offers, the Company anticipates that it will have issued all of its currently authorized 15,000,000 shares of common stock. The company anticipates increasing the authorized shares to 125 million common shares to accommodate the Preferred Series C shares. The company estimates that fully diluted shares outstanding, including existing shareholders and the Preferred Series C issuance, will equal approximately 85 million common shares of which approximately 70 million common shares are founder’s shares or investors in Helm Capital Group, Inc. The company expects the “float” to be approximately 10-15 million shares.
The Company’s shares were at one time listed on the American Stock Exchange, but the Company was delisted several years ago, and it has not filed the requisite reports under the Securities Exchange Act of 1934, since the Company’s Quarterly Report on Form 10-QSB for the Quarterly Period ended September 30, 2000. The Company is currently in the process of raising additional capital to fund its distribution operations, contractual commitments to Glyco and for professional fees in order for it file the requisite reports under the Exchange Act. There can be no assurance that the Company will be able to successfully obtain all of its needed financing or that it will be able to file all of the requisite reports under the Exchange Act to become fully compliant.
The Company’s shares of common stock have continued to trade in the pink sheets under the symbol HCGI.PK. Investors and potential investors are cautioned that as the Company has not filed reports under the Exchange Act since the third quarter of 2000 (other than that Form 8-K), there is little, if any, available reliable current public information upon which to make an investment decision.
Helm Capital Group, Inc.
CONTACT: Russell J. Hoffman, +1-914-924-0365, rhoffman@helmcapital.com
Web site: http://helmcapital.com/
