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What does Matrixx "do"?
Matrixx Initiatives, Inc. is engaged in the development, manufacture and marketing of over-the-counter (OTC) pharmaceuticals, which utilize innovative drug delivery systems. Zicam, LLC, its wholly-owned subsidiary, produces, markets and sells Zicam® Cold Remedy nasal gel, a patented, homeopathic remedy that has been clinically proven to significantly reduce the duration and severity of the common cold. In studies published in the October 2000 issue of ENT -- Ear, Nose and Throat Journal, and separately in the January 2003 issue of QJM: An International Journal of Medicine, the Zicam Cold Remedy product was shown to reduce significantly the duration of the common cold. From the introduction of our flagship product, Zicam Cold Remedy (Nasal Pump) in 1999, we have developed and introduced twenty additional Zicam products and two Nasal Comfort™ products. Our products are marketed within the cold, allergy & sinus, cough, and flu relief market groups of the $3.5 billion cough/cold category. Matrixx's ability to bring new products to market quickly, increase distribution at retail, and have customers recognize the benefits our products deliver, are some of the key success factors contributing to Zicam's phenomenal growth and increasing brand awareness. Our innovative and convenient products help improve the lives of busy people who don't like to lose time by being sick. Please visit www.zicam.com or www.nasalcomfort.com for additional product information.
For a more detailed description of the company's operations, refer to the Corporate Overview.
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How long has Matrixx been in business and when was the company incorporated?
The company was incorporated in Utah in 1991 under the name Nekros International Marketing, Inc. and subsequently changed its name to Gum Tech International, Inc. The company was reincorporated in Delaware in June 2002 under the name Matrixx Initiatives, Inc.
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Why was Matrixx reincorporated in Delaware?
The reincorporation was undertaken to permit Matrixx to be governed by Delaware's well recognized, comprehensive and flexible corporation law, the foundation of which is the Delaware General Corporation Law. Delaware law has become widely regarded as the most well-defined body of corporate law in the United States. Many corporations throughout the United States have initially chosen Delaware as their corporate domicile or have subsequently reincorporated in Delaware. Matrixx believes that the environment provided by Delaware law will enhance the company's operations, including its ability to obtain equity financing if and when required, effect acquisitions and undertake other transactions.
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Why did the company change its name from Gum Tech to Matrixx?
"Matrixx" signifies the expanded focus of the company as a high growth OTC healthcare company marketing products that utilize novel, unique and proprietary delivery systems that provide consumers with "Better Ways To Get Better®".
The company's new name represents the evolution of Gum Tech from its origins as a gum-based OTC drug and nutrient developer into a developer of innovative application and delivery systems for Class III bioactive compounds. The strategic change in the company's business operations in 2001, including the sale of substantially all of its chewing gum business and assets to the Wm. Wrigley Jr. Company and the acquisition of its joint venture partner's interest in Zicam, LLC (including the Zicam product line and related nasal gel technology), positioned Matrixx to expand its existing Zicam product line and grow revenues and market share in the cough and cold category and focus on developing products to be sold in additional OTC categories.
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What products does Matrixx currently produce?
Matrixx currently produces, markets and sells products in the cold, allergy/sinus, cough, and flu market groups within the overall cough and cold category at retail. Our biggest selling group, Zicam Cold Remedy nasal products are clinically proven to reduce the duration and severity of the common cold. In late 2003 the Company introduced the three oral delivery forms of Zicam Cold Remedy products – Zicam Cold Remedy Chewables™, Zicam Cold Remedy RapidMelts™, and Zicam Cold Remedy Oral Mist™. During 2006 we expect to introduce a new Zicam Cold Remedy RapidMelt + Vitamin C and Zicam Cold Remedy ChewCaps.
Zicam Allergy Relief was introduced in 2000. We introduced three other Zicam allergy/sinus products in late 2002 — Extreme Congestion Relief, Sinus Relief and Nasal Moisturizer. The Zicam decongestants combine the active ingredient oxymetazoline hydrochloride into our gel matrix to provide fast-acting, long-lasting relief of nasal congestion and sinus pressure.
Six Zicam Cough products were launched in 2004. These cough products utilize a unique spray delivery to provide fast, effective cough relief and soothe throat irritation. In 2005, the cough line was expanded to include Zicam CoughMax, which provides up to eight hours of extended relief. During 2006, we expect to launch Zicam CoughMax Melts, which capitalize on our rapidly-growing RapidMelt technology. Cough Melts dissolve in seconds and provide the convenience of a cough drop with the power of a cough syrup.
During 2005 we introduced four Zicam Flu Relief products and two new Nasal Comfort items. The Flu Relief products utilize a new spoon dosing delivery. Each spoon is individually packaged and dosed with medicine to provide powerful relief of cold and flu symptoms and is designed to be mixed with any beverage, hot or cold. Nasal Comfort uses a patented one-way micro-filtration sprayer to deliver a preservative free hypertonic mist and provides consumers a drug-free way to relieve nasal congestion.
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How does Matrixx market its products?
Matrixx markets its Zicam products through an extensive domestic distribution channel of major food, drug, mass market and wholesale warehouse retailers throughout the United States. We believe our products are sold by every large national retailer as well as through distributors that sell to smaller retail establishments.
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Does Matrixx market its products internationally?
Our growth has been focused on the continued strengthening of domestic distribution channels and new product introductions. Because of the complex and multiple regulatory environments, languages, customs, logistics and working capital requirements involved in developing these markets, Matrixx management believes expansion of sales into international markets is a long term opportunity.
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Who are Matrixx's primary competitors?
Zicam Cold Remedy benefits from unique positioning with its ability to reduce the duration of the common cold, as opposed to competing cold remedy products which merely treat cold symptoms. However, the product competes in the highly competitive cough and cold market category with a significant number of well-established brands marketed by a large multi-national pharmaceutical and consumer products companies. Zicam Allergy Relief competes against a smaller number of OTC products in the allergy market category, but also has competition from highly marketed prescription allergy products and OTC products marketed by large pharmaceutical and consumer products companies.
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What are Matrixx's competitive advantages?
- The Zicam product brand is well established in the cough and cold remedy products market.
- Matrixx is able to distinguish the benefits of Zicam Cold Remedy over competing cold remedy products by emphasizing its ability to significantly reduce the duration of the common cold; other products merely treat cold symptoms.
- The Matrixx new product development model is based on creating a specialized product niche by combining proprietary application or delivery systems, like the patented Zicam gel matrix, with Class III ingredients (those already recognized by FDA under its review of OTC drugs and on the shelf in other products). This results in relatively rapid speed to market for Matrixx products compared to prescription pharmaceuticals.
- Matrixx has low operational overhead, coupled with gross margins above 65%.
- Matrixx has a strong management team and board of directors with extensive experience in the development, distribution and sales of over-the-counter pharmaceuticals.
- Matrixx's patent for its proprietary gel technology is secure until 2018.
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Where are Matrixx's corporate headquarters?
Matrixx's corporate offices are located at 8515 E. Anderson Drive, Scottsdale, Arizona 85255.
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What are Matrixx's objectives and priorities in the coming year?
- Continue the research and development required to launch additional OTC products
- Increase retail business market share
- Keep quality and service levels high
- Control operating costs
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When did Matrixx make its initial public offering (IPO) and where is its stock traded?
The company's completed its IPO on April 24, 1996, at which time its common stock began trading on the NASDAQ National Market under the symbol "GUMM." As of June 19, 2002, the company's NASDAQ trading symbol changed to "MTXX" to reflect the change of the company's name to Matrixx Initiatives, Inc.
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Can I buy Matrixx stock directly from the company?
Stock cannot be purchased directly from Matrixx. Investors can buy stock through a stockbroker, bank, or other financial institution that provides brokerage services.
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When does Matrixx's fiscal year end?
Matrixx's fiscal year ends on March 31.
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Does Matrixx pay a dividend?
Since our initial public offering in 1996, the company has not paid dividends on its common stock and does not expect to pay dividends in the foreseeable future. The company intends to retain any earnings to fund the expansion of its business. The amount of future dividends, if any, will be determined by the company's board of directors based upon the company's earnings, financial condition, capital requirements and other factors, including any contractual or statutory restrictions on its ability to pay dividends.
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Where can I view copies of Matrixx's annual reports and financial filings?
Matrixx's Annual Reports can be viewed here and Matrixx's SEC filings can be viewed here.
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When do Matrixx's earnings releases typically occur?
The Company's earning results are typically announced within 30 days following the end of a fiscal quarter and within 45 days for year-end results. For automatic notification and updates, you may subscribe to receive information through our Email Alerts service.
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Who is Matrixx' Stock Transfer Agent?
Corporate Stock Transfer, Inc.
3200 Cherry Creek Drive South, Suite 430
Denver, Colorado 80209
(303) 282-4800
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Who are Matrixx's independent auditors?
Mayer Hoffman McCann, P.C.
Certified Public Accountants
Denver, Colorado
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Who is Matrixx's legal counsel?
Snell & Wilmer LLP
One Arizona Center
400 East Van Buren Street
Phoenix, Arizona 85004
(602) 382-6000
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Who do I contact to change my address?
If you do not hold your Matrixx stock in "street name" you may change your address by contacting the company's stock transfer agent, Corporate Stock Transfer, Inc., 3200 Cherry Creek Drive South, Suite 430, Denver, Colorado 80209. Phone: (303) 282-4800.
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How can I get more information about Matrixx?
Requests for information should be directed to:
Investor Relations
Matrixx Initiatives, Inc.
8515 E. Anderson Drive
Scottsdale, Arizona 85255
(602)385-8888
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