Frank Jaksch, founder and chief scientific officer of ChromaDex (OTCBB: CDXC), helped Dateline NBC’s Chris Hansen expose frauds in the dietary supplement space in a segment that aired in late March.
In a press release, Mr. Jaksch stated, “There are challenges in the dietary supplement industry in that laboratories supplying fictional results in lieu of performing appropriate analytical tests may mislead their clients and the public. This is a practice known as ‘dry labbing.’ The Dateline NBC investigative segment was an important first step in addressing this problem. Consumers need to have confidence that what is on the label matches what is in the product.”
You can view the three-part segment in its entirety below:
CDXC is considered a leader in the reference standards and services business. A small sampling of its customers includes the Food and Drug Administration, Cargill, Kraft, Pfizer, and the U.S. Department of Agriculture.
In recent years, CDXC began to use its expertise to identify and develop proprietary products and ingredients for multiple industries, including dietary, supplement, food and beverage, cosmetic, and pharmaceutical. These efforts resulted in the 2010 launch of the Company’s first proprietary ingredient, pTeroPure, which Frost & Sullivan named the 2010 North American Most Promising Ingredient of the Year.
Believed to address a potential market of $600 million, pTeroPure is already used in a host of products available nationally at such stores as GNC and Walgreens.
With a strong pipeline of additional proprietary ingredients, CDXC shares are poised to move substantially higher. Insiders obviously see the potential; in February the Company’s new CEO purchased over 1.3 million shares and famed biotech billionaire Dr. Phillip Frost added over 300,000 shares. Both purchases, along with purchases of an additional 800,000 shares by other officers and directors, were made at $0.75. Don’t miss your chance to own shares at similar prices.
Disclosure: The subject security is a client of RedChip Companies, Inc. RedChip Companies, Inc., employees and affiliates may have positions and affect transactions in the securities or options of the issuers mentioned herein. For full financial disclosures for all RedChip clients, please visit http://www.redchip.com/disclosures.asp?src=rcv.
