Wellness

The Quigley Corporation Announces Sale of Its Health and Wellness Segment

Published in Lab Law Weekly, March 21st, 2008

The Quigley Corporation (NASDAQ:QGLY) announced that on February 29, 2008 it completed the sale of it wholly owned subsidiary, Darius International Inc. ("Darius"), which markets health and wellness products through its wholly owned subsidiary, InnerLight Inc. to InnerLight Holdings, Inc., whose major shareholder is Mr. Kevin P. Brogan, the current president of Darius.

The terms of the agreement include a cash purchase price of $1 million by InnerLight Holdings, Inc. for the stock of Darius and its subsidiaries without guarantees, warranties or indemnifications. The unaudited net book value of Darius at December 31, 2007 and 2006 approximate $124,000 and $2.4 million,...

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Source: Lab Law Weekly (2008-03-21)

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