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| | Business Summary: Neuro-Hitech, Inc., an early stage pharmaceutical company, focuses on developing drugs for the treatment of degenerative neurological diseases. The company's lead product, Huperzine A, a Phase II clinical trial tested for the treatment of Alzheimer's disease. | | | Address
1 Penn Plz Ste 1503
New York
, NY 10119-1503
Phone: 212-594-1215
Fax: 212-798-8183
| | | Transfer Agent |
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Empire Stock Transfer Inc.
| Employees: 4
ShareHolders: 123 | Founded: 2005
Domicile: Delaware | | | |
| | Neuro-Hitech, Inc., an early stage pharmaceutical company, focuses on developing drugs for the treatment of degenerative neurological diseases. The company's lead product, Huperzine A, a Phase II clinical trial tested for the treatment of Alzheimer's disease. It has two preclinical development programs, one for anti-amyloid compounds or disease modifying drugs for Alzheimer's disease; and the second for the development of a series of compounds to treat and prevent epilepsy. The company was incorporated in 1996 and is headquartered in New York, New York. | | History: INCORPORATED in Delaware Jan. 12, 2006, as Northern Way Resources, Inc.; and on Jan. 17, 2006, merged a Nevada corporation of the same name (incorporated Feb. 1, 2005) under the name Neurotech Pharmaceuticals, Inc.; name changed to Neuro-Hitech Pharmaceuticals, Inc. Jan. 25, 2006; and to Neuro-Hitech, Inc. Aug. 11, 2006. On Jan. 24, 2006, the company acquired Marco Hi-Tech JV Ltd. for 6,164,006 Common shares through the merger of a wholly owned subsidiary of the company into Marco.
Marco Hi-Tech JV Ltd. was incorporated in New York Dec. 11, 1996. | | | | Subsidiaries: |
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Marco Hi-Tech JV Ltd.
| | | | | | Capital Expenditures, thousand. US Dollars |
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| Year | Amount | | 2007 | 0 |
| | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2007 | 3,524 |
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Management
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| Officers | Position |
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| Mark Auerbach | Chairman | | Reuben Seltzer | Vice Chairman | | Matt Colpoys | President & Chief Executive Officer | | David Barrett | Chief Financial Officer & Chief Accounting Officer | | L. William McIntosh | Chief Operating Officer | | William Wong | Chief Scientific Officer | | Alan Kestenbaum | Exec VP | | Thomas P. Walsh | Investor Relations Contact |
| | Directors |
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| John D. Abernathy | | Mark Auerbach | | Matt Colpoys | | David R. Dantzker | | Kevin Esval | | Reuben Seltzer | | Phillip Young | | | |
| | | | Capitalization as of 03/31/2008: | | | | | Authorized Shares | Outstanding Shares |
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| Class A Common $0.001 par | 100 | 100so1 | | Common $0.001 par | 44,999,900 | 14,004,853 | | Preferred $0.001 par | 5,000,000 | None |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
03/27/2008,
123.
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Transfer Agent: Empire Stock Transfer Inc.
Las Vegas
, NV | | | | OTC Bulletin Board( Primary): NHPI | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2008 | 0.0000 | 0.0000 | | Nasdaq Capital Market | 2007 | 8.1500 | 3.0100 | | OTC Bulletin Board | 2006 | 10.7300 | 5.0000 |
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| | | | RECENT DIVIDENDS: Common $0.001 par: None. | | | | | |
so1Closely held. | |
| | Annual Report |
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| | | Income Statement | |
| 2006 | 2005 |
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| Sales | 304,240 | 208,343 | | Cost of Goods Sold | 155,014 | 102,637 | | Gross Profit | 149,226 | 105,706 | | Selling general & administrative expenses | 1,765,486 | 389,706 | | Research and Development Costs | 19,480,501 | 678,798 | | Share-based compensation | 327,835 | -- | | Amortization of deferred compensation | 130,905 | -- | | Total Operating Expenses | 21,704,727 | 1,068,504 | | Interest Income | 147,730 | 7,957 | | Net income | (21,407,771) | (954,841) | | Share earns. Basic | ($2.25) | ($0.11) | | Share earns. Diluted | ($2.25) | ($0.11) | | Weighted Average Shares | 9,528,650 | 8,327,056 | | Operating Income As Calculated | (21,553,752) | (962,798) | | Depr. and Amort. | 1,749 | -- |
| | | | Balance Sheet | |
| 2006 |
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| ASSETS: |
| | Current Assets: |
| | Cash and Cash Equivalents | 4,705,195 | | Accounts Receivable | 25,800 | | Inventory | 31,291 | | Prepaid Expenses | 23,921 | | Deferred Charges | 93,750 | | Total Current Assets | 4,879,957 | | Property and Equipment, net | 7,246 | | Total Assets | 4,887,203 | | LIABILITIES AND STOCKHOLDERS' EQUITY: |
| | Current Liabilities: |
| | Accounts Payable and Accrued Expenses | 1,195,744 | | Total Current Liabilities | 1,195,744 | | Stockholders' Equity: |
| | Common Stock $0.001 Par Value | 11,855 | | Additional Paid-in Capital | 28,891,967 | | Deferred Compensation | (1,178,147) | | Accumulated Deficit | (24,034,216) | | Total Stockholders' Equity | 3,691,459 | | Total Liabilities and Stockholders' Equity | 4,887,203 | | Capital Expenditures | 8,995 | | Research & Development Expenditures | 19,480,501 | | Equity per Share | $0.31 | | Depr. and Amort. Reserve | 1,749 | | Common Shares Cl. A | 100 | | Common Shares | 11,855,135 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | 190,000 | | 2007 |
1 | 190,000 | | 2007 |
2 | 60,000 | | 2007 |
3 | 110,000 | | 2007 |
4 | 100,000 | | 2007 |
Full Year
| 460,000 | | 2006 |
2 | 10,000 | | 2006 |
3 | 180,000 | | 2006 |
Full Year
| 300,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | (2,070,000) | | 2007 |
1 | (1,450,000) | | 2007 |
2 | (2,370,000) | | 2007 |
3 | (2,950,000) | | 2007 |
4 | (2,030,000) | | 2006 |
1 | (910,000) | | 2006 |
2 | (850,000) | | 2006 |
3 | (990,000) | | 2006 |
Full Year
| (21,407,800) | | 2005 |
Full Year
| (954,800) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2008 |
1 | (.15) | | 2007 |
1 | (.12) | | 2007 |
2 | (.19) | | 2007 |
3 | (.24) | | 2007 |
4 | (.16) | | 2007 |
Full Year
| (.71) | | 2006 |
2 | (.09) | | 2006 |
3 | (.11) | | 2006 |
Full Year
| (2.25) | | 2005 |
Full Year
| (.09) |
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