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SUBSEQUENT EVENTS - Note 10
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements  
SUBSEQUENT EVENTS - Note 10

10. SUBSEQUENT EVENTS

In April 2012, we reduced our workforce to align with our ingredient brand business model and expect to record expense of approximately $304,000 related to the severance agreements for these employees in the second quarter of 2012.

In May 2012, we signed a definitive agreement with private investors to raise approximately $5.0 million from the sale of 3.3 million shares of our common stock and warrants to purchase 1.0 million shares of our common stock. The warrants have an exercise price of $2.125, are exercisable six months after the issuance date and have a three year term. The investment is subject to customary closing conditions and is expected to be completed by May 29, 2012.