July 29, 2010

Pharmasphere Just Established

Huh??? Yep remembered they were bought out recently by Converted Organics.  Now Converted Organics announced today that they established Pharmasphere???    This thing never made sense from the very beginning.   Two years this parcel has been tied up for $1, that was never paid, and not one penny of tax revenues has been collected.

Clicke here for the press release.  here is part:

BOSTON, July 29, 2010 (GLOBE NEWSWIRE) -- Converted Organics, Inc. (Nasdaq:COIN) today announced that TerraSphere Systems, LLC, a leader in the vertical farming market, has established PharmaSphere Systems, LLC as a biotechnology company that will produce and market high-value, plant-based compounds to the pharmaceutical, nutraceutical, and cosmeceutical markets, through the use of TerraSphere's vertical farming technology.

5 comments:

Anonymous said...

I read this activity as a sign that this deal is starting to come together for real, perhaps closing by the end of 2010?

Eric K.
Worc., MA

Bill Randell said...

Eric

I really hope you are kiddin? Converted Organics, Terrasphere and Pharamasphere are just smoke and mirrors. This is a complete joke?

Bill

Anonymous said...

Honestly, I have no clue where this is going, but thought I would see if I could spark some discussion by trying to look at this subject from a different perspective...

It seems plausible to me to think that this recent sale was to finally secure the private financing they needed to make Pharmasphere a go (seems reasonable to me to think that as a startup their funding might have dried up there for a while in recent financial crisis?), and now they are just forming the new LLC's necessary to move forward under the new ownership (not unlike Hanover taking over CitySquare and putting it all under their name CitySquare II?)

Eric K.
Worc., MA

Brendan Melican said...

Do not try to bend the spoon — that's impossible. Instead, only try to realize the truth: there is no spoon.

Jahn said...

This is a classic case of what happens when bureaucrats, politicians, land planners, urban geographers and the like are given municipal real est. dev'ment job positions.

They have zero real world experience and the sewerage they generate destroys much of what they touch.

Word Verification: bulgers