TSXV: NTB - NASDAQ: NEPT
Basic Shares: 48.2 million
Fully diluted: 53.9 million
Today, Neptune Technologies announced it launched multiple infringement actions against a number of krill oil companies distributing and selling in the United States. The legal actions follow yesterday’s announcement that the United States Patent and Trademark Office granted Neptune the patent which protects the Omega-3 composition of Neptune Krill Oil(TM) (NKO(R). The patent also “covers amongst others, oils and powders extracted from krill, containing marine phospholipids bonded to EPA and/or DHA, distributed and/or sold in the U.S. market.”
In the news release, Neptune names the companies which it has issued complaints against: Aker Biomarine ASA, Aker Biomarine Antarctic USA, Inc., Schiff Nutritional International, Enzymotec Limited., Enzymotec USA, Inc., Mercola.com Health Resources, LLC and Azantis, Inc.
Based on investor postings in the online world, there is satisfaction being expressed but a key question is, how long these actions will take and speculation on an eventual outcome. There is no definitive answer. This recent news appears to have provided some stability to the stock price, which as of this writing is trading in the $2.50 to $2.60 (CDN) range.
To view today’s news release, please click here.