“MEDirect Latino Inc. Pink Sheets:MLTO, the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, announces a loan in the amount of $1.1 million from the Companys lenders, changes in Management and litigation against its former CEO and its Executive Vice-President.
The Company and its lenders have executed an amendment to the Companys existing $8,250,000 senior secured convertible loan. The amendment calls for immediate funding of $1,100,000 for inventory, the repayment of certain short-term obligations and to support the Companys marketing and media initiatives. The amendment was conditioned, among other things, on the termination of CEO, Debra Towsley and Executive Vice President, Raymond Talarico as officers and employees of the Company. Ms. Towsley was terminated by the Board at a special meeting of the Board on June 25, 2007, and Mr. Talarico was terminated by the Board at a special meeting of the Board on June 28, 2007. In addition, the amendment requires that the Company maintain a minimum of $100,000 in cash and to adjust and set the price at which the lenders may convert a portion of their loan into equity. The Company can give no assurances that it will meet the conditions necessary to borrow these funds.
Director, and Chief Operating Officer Mr. Charles W. Hansen, III has been elected interim-CEO by the board. The board of directors has authorized a subcommittee to begin a search for a permanent CEO.
Ms. Towsley and Mr. Talarico, directly and through counsel, have advised the Board that they do not believe the June 25, 2007, Special Meeting of the Board was properly called under the By-Laws and the Board could not accept the resignation of Rubin King-Shaw as chairman, the appointment of Mr. Webb as new chairman, the termination of Ms. Towsley as CEO and the appointment of Mr. Charles W. Hansen III as interim CEO. The Company believes the actions of the Board were proper, legal and taken in the best interest of the Company.
Counsel for Ms. Towsley and Mr. Talarico have advised the Companys counsel that they are preparing to file an Information Statement for the Company Shareholders of record as of June 30, 2007, to remove Board members Lautz, Webb, Gordon and Charles W. Hansen III under the Companys By-Laws allowing Board members to be removed by 2/3 vote of shareholders without a meeting. The Companys records reflect that Ms. Towsley and Mr. Talarico do not, in and among themselves, have the required 2/3 shares of the Companys outstanding stock and may be soliciting proxies for others to join in their activities. The Company intends to investigate this activity and to bring appropriate legal action if the applicable provisions of the federal securities laws have been violated.
In announcing the changes at MEDirect Latino, Interim-CEO Charles Hansen stated, “We are singularly focused on executing our operating plan to achieve profitability and providing excellent service to our customers. With the support of our lenders and the Board of Directors we hope to accomplish that mission.”"
Knowledge is Power and this page is just the start. Hispanics/Latinos are a growing diverse force in this country. Check out some of the 54,866 items found on this site below or dig into the Site Map
Best of the Rest
- November 24, 2009
- Francisco Rodriguez Dead: Boxer Dies After Collapsing At Fight
- Allow Undocumented Immigrants to Purchase Health Care – New Senate bill includes inhumane provision barring undocumented immigrants from purchasing health care with their own money
- LULAC has redesigned their website – (look much better imho – on a tech note there are a few RSS problems)
- As Senate preps for healthcare debate, petition gets underway to include undocumented immigrants
- LULAC is asking a judge to prevent Ohio state officials from canceling the registrations of more than 40,000 vehicles apparently driven by undocumented immigrants. – filed the lawsuit against state officials in Franklin County Common Pleas Court this morning.
- The mayor of a wealthy suburb (San Pedro Garza Garcia) of Monterrey said Monday that he has sent his family to the United States for their own safety as he pursues his campaign against extortion and kidnapping gangs.
- Adolph Carranza remembers an unusual holiday donation from the Salvation Army. – New StoryCorps Historia
- Jose Fernandez tells his wife, Teresita, about the first Thanksgiving he spent in the United States. – New StoryCorps Historia
- Hispanic Thanksgivings produce family-filled feasts
- Jose Garces Named Food Network’s Next Iron Chef
- Interview with Bebel Gilberto- she just released a new album titled All In One
- November 23, 2009
- No Probable Cause? No Problem!: A U.S. Citizen Says He Was Detained Without Probable Cause by the Maricopa County Sheriff’s Office, and Then Jailed for Traffic Violations
- New breast cancer screening guide will disproportionately hurt black and Hispanic women
- Women and Minorities Getting Left Out of Green Job Market, New Study Finds
- Americans Running South: Why We are Flocking to Mexico for Work
- On the mayor’s agenda: ‘Civilize’ Mexico City – Marcelo Ebrard
- Wild Horse Activists Fly Banner Over Denver Calling Salazar “Slaughter Czar”
- In Argentina, One Person Dies Every 28 Hours from Police Repression
- Lou Dobbs Calls Himself Latinos’ ‘Greatest Friend,’ Denies Tying Leprosy To Undocumented Immigrants – Interviewed by Maria Celeste on Telemundo’s Al Rojo Vivo
- November 21, 2009
- A federal judge dismissed dozens of immigration charges Thursday against the former manager of a kosher slaughterhouse, at the request of prosecutors who had already won a conviction on multiple counts of financial fraud. – Postville news
- Meg Whitman’s Latino Outreach & the Pete Wilson Connection – CA politics
- Poetry Series Spurs Debate on the Use of an Old Slur Against Latinos – “Spic Up/Speak Out” — at El Museo del Barrio
- Marco Rubio, A Crossover Success – (good read)
- A fire destroyed 106 houses in the Ecuadorian Pacific coast city of Guayaquil and left more than 500 people homeless, as well as 14 children with symptoms of smoke inhalation.
- LatAm Immigrants Are Changing Spain, Sociologist Says
- Mexico’s top domestic security official said Friday that sectors of the general public have cooperated with drug cartels in the violent border city of Ciudad Juarez, and the government is about to launch new social programs there to combat gangs.
- Pro-Castro mob attacks spouse of top Cuban blogger – Yoani Sánchez
- Miguel H. Díaz is first Hispanic to represent U.S. at Vatican
- Efrain’s Corner: A Response to….”Puerto Ricans in New York Struggling…Still” Comment
- Puerto Ricans in New York Struggling…Still – Puerto Ricans are some of the most prominent figures in New York politics and culture, so some people are surprised when they hear that, overall, Puerto Ricans are among the poorest and least educated New Yorkers. Almost a third in New York are living in poverty.
- Lalo Alcaraz on Lou Dobbs (departure from CNN)
- November 20, 2009
- Police in Peru say gang members killed people to drain their fat for cosmetics
- Mexican authorities predict fewer Mexican immigrants will be back home for Christmas
- Interview with Aurora Anaya-Cerda, owner of La Casa Azul Bookstore – NYC
- We need an honest definition of who is a “real American”
- Immigration Reform: The Phone Call Heard Around the Country – On the call were Rep. Luis Gutierrez, D-Ill.; Nydia Velázquez, D-N.Y.; and Rep. Raúl Grijalva, D-Ariz. Immigrant rights advocates from various parts of the country also spoke.
- Digital out-of-home (DOOH) Effectively Reaches Latinos On The Go – few marketers truly utilized digital media when reaching out to the Hispanic community.
- A week after abruptly quitting his longtime job as a CNN television news host and commentator, Lou Dobbs said on Thursday he is considering career options including possible runs for the White House or U.S. Senate.
- ICE Assistant Secretary John Morton announces 1,000 new workplace audits to hold employers accountable for their hiring practices
- In Virtual Town Hall with Immigration Reform Activists, Gutierrez Promises Bill By December
Latest Essentials
- November 25, 2009
- TOP Ten signs you are at a Cholo themed Thanksgiving dinner
- November 24, 2009
- So do you think Lou Dobbs will get the Hispanic vote in 2012?
- Raul Humberto Yzaguirre, 70, a veteran activist in the civil rights struggle of Hispanics in the United States, has been accepted by the Dominican Government as new American ambassador in the country.
- The Republican National Committee has hired Alex Castellanos, a long-time political strategist and GOP consultant, as an adviser.
- Telemundo’s disastrous Dobbs interview – “Interestingly enough, Dobbs was no bully and with his calm tone actually made his interviewer,” María Celeste,” look like a fool”
- Sarah Palin uninformed on Latino issues – A top adviser on Hispanic issues to John McCain’s presidential campaign said Sunday that a joint interview with McCain and Sarah Palin planned for Univision last fall had to be canceled because Palin was unprepared to discuss Latin America policy.
- Hispanic Caucus Finally Wake Up: It’s About Time
- The New General Market – Current trends suggest expanding Latino influence will blur the lines and Hispanic and general markets will collide, with the resulting merger revealing a new, evolved American general market
- November 23, 2009
- New Study: U.S. Hate Crimes Fall Slightly In ‘08; But Data Is Limited
- San Antonio’s Museo Alameda in financial straits
- It is Better to “Spic”? When Were Ricans Ever the Model Minority?
- Al Carlos sits down with Nancy De Los Santos, writer. Period.
- Guapa, it’s your genetic ancestry I love – study of DNA found that within Mexican populations, people tended to pick partners with similar proportions of Native American and European ancestry, while in Puerto Rican populations couples had paired up based on their shared balance of European and African ancestry.
- November 21, 2009
- Hispanic Caucus: ‘You Lie!’ Outburst to Blame for Senate Health Bill Provision on Illegal Immigrants
- Central American nations will demand $105 billion from industrialized countries for damages caused by global warming, the region’s representatives said on Friday.
- “They” Are “Us”: The Devastating Effects of Broken Immigration Policy on Children in Immigrant Families
- November 20, 2009
- Hispanic lawmakers say an old adversary, White House chief of staff Rahm Emanuel, has his fingerprints all over a push to prohibit illegal immigrants from buying health insurance plans in a new market for people who don’t get insurance through their employers.
- Some U.S. Democrats see momentum building for an overhaul of immigration laws that would legalize millions of undocumented workers, but analysts say a crowded agenda and struggling economy may once again sink hopes for reform next year.
- The current global crisis will cause the number of poor people in Latin America to rise by 9 million to 189 million this year, the U.N. Economic Commission for Latin America and the Caribbean said in a report presented on Thursday.
- Do Long Island Police Ignore Hate Crimes?
- Mexican migrants are spending more money on taxes in the United States than on the remittances they send home to relatives, according to a new study by Mexico’s largest bank, BBVA Bancomer.
- Ana Maria Perez Gonzalez, said to be the oldest woman in the world, died in Mexico this week. She was 119.
- Part of a Cuban blogger’s essay that advocates lifting the ban on U.S. travel to Cuba was read aloud at a House Foreign Affairs committee hearing. – Yoani Sánchez
- November 19, 2009
- TOP Ten reasons you should watch Lopez tonight not Conan
- Migration Policy Institute (MPI) Report Finds Immigrants Hit Harder During Economic Downturn than Native-Born Workers
- After a 3 year trial of producing regionalized news for several top 10 Hispanic market stations via the Telemundo Production Center in Dallas, the network is reverting to producing local news. Dallas, Houston, San Antonio, Phoenix and San Jose will once again have locally produced news.
- Nacional Records Sampler 2009 | The New Sounds Of Latin Music – 21 FREE mp3s over at Amazon – (cool!)
- Ironically, Latinos should be greatful to former CNN blowhard Lou Dobbs – commentary by Albor Ruiz
- When White Writers Do “Latino” Issues – It was chaos this week in the LA Weekly’s virtual mailroom, which received a deluge of reactionary attitude in regard to Christine Pelisek’s cover story “Chaos in the Casitas: Lawless, south of the border–style speakeasies get a grip on L.A.”
- More Than 60,000 Americans in 45 States Organize for Immigration Reform
- New Report Shines Light on Detainee Rights Violations in Minnesota
- CIS Report Attempts to Erase 100 Years of Data on Immigrants and Crime
- Video: Senator Menendez Speaks on Behalf of Hispanic Farmers’ Discrimination Lawsuit + update
- November 18, 2009
- New Report: More Than 2 Million Hispanic Households With Children Face Hunger – Hispanic households with children experiencing very low food security up almost 50%
- On November 18 at 8:00 PM Eastern time/5:00 PM Pacific, all across the country people are hosting house parties with their families, friends, neighbors, churches, classmates and anyone else who supports comprehensive immigration reform for America.
- Video report of Latina forced to give birth while in chains in Maricopa County, AZ courtesy of Sheriff Joe Arpaio (en Español)
- California’s Republican gubernatorial candidate Meg Whitman told a group of supporters Tuesday that she is making an unprecedented effort to attract Latinos to the Republican party – in South El Monte
- Hundreds of defendants awaiting trial for violent crimes in Dallas County have been deported by federal immigration officials and then set free in their home countries. – The practice goes back to at least 1991 and includes the release of murder, kidnapping and child rape suspects.
- Environmentalists alarmed by Puerto Rico policies – Sweeping from lush mountain rain forests to pristine beaches, a corridor of land protected by Puerto Rico’s last governor hosts dozens of rare and endangered species and was championed by celebrities who helped fight off resort proposals. – Now new Gov. Luis Fortuno has revoked the reserve as part of a drive to bring jobs and investment for the U.S. territory’s struggling economy. And activists see a broader pattern of looser protection for the island’s environment.
- Deporting undocumented students affects the chances for legal return if Congress doesn’t address it in immigration reform bill
