Atrinsic, Inc. (PINK:ATRN) has traded as high as $.135 during today’s trading session and last traded at $.11 for a gain of 1.95% from yesterday’s close, which is a total gain of over 469.94% from my first alert!! ATRN shares have traded as high as $1.05 over the past 52 weeks, which is 89.5% off that high at last traded stock price.
On January 30, 2012, Stuart Goldfarb resigned as our Chief Executive Officer. On the same date, we appointed our Chief Financial Officer, Nathan Fong, to serve as our Chief Executive Officer until his successor in such capacity is appointed by our Board of Directors. Mr. Goldfarb will continue to serve on our Board of Directors, a position he has held since January 2010. Get my next ALERT 100% FREE
On May 31, 2011, the Company sold to investors Secured Convertible Promissory Notes (the “Notes”) in the original aggregate principal amount of $5,813,500. As of the close of business on January 26, 2012, an aggregate principal amount of approximately $4,100,000 remained outstanding on the Notes. The Company intends to use the net cash proceeds of $615,000 received from its January 23, 2012 sale of certain short codes, domain names, trademarks and databases used in the Company’s subscription businesses to Mkono Media Corp. to further reduce its obligations under the Notes.
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