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Fuse Science, Inc. Raises the Full Amount of a $3.2M Offering - cbl
Posted February 22, 2012
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By Bill Murphy
MIAMI LAKES, Fla. -- Fuse Science Inc. (OTC QB: DROP) has closed a $3.2 million offering of debt and convertible securities, raising the amount from 12 investors, according to an SEC filing.
Principals named in the filing by the Miami Lakes-based company are:
· CEO Brian Tuffin;
· Co-founder and Chief Marketing Officer Aitan Zacharin;
· Co-founder and Chief Business Development Officer Adam Adler; and
· President and COO Rubin Hanan.
The company said it would pay sales commission of $236,000 to New York-based National Securities Corp.
Last year, Fuse Science effected a reverse merger with Double Eagle Holdings Ltd. It has developed several concentrated sublingual drops to include electrolytes for sports, caffeine drops for energy and vitamin drops for children. It also has, through Skin Science, a product for acne treatment and a patent-pending skin enhancer.
Reg D filing: http://tinyurl.com/7f5rydo
Also, at citybizlist see:
Fuse Science Partners with Smart Warehousing
Fuse Science Oversubscribes First Round of Seed Capital
Fuse Science's Adam Adler Takes Control of Double Eagle Holdings - cbl
Brian Tuffin Joins Fuse Science as President and COO
Bios from Fuse Science site:
Brian Tuffin
CEO
Mr. Tuffin began his career at Procter & Gamble in 1988 and advanced through several sales and marketing positions as he elevated through the consumer product giant, then PepsiCo, Kraft and SC Johnson over the next 20 years. Mr. Tuffin spent two years working around the world helping build global capabilities for SC Johnson prior to serving as President of the Canadian Company for SC Johnson from March 2000 to December 2004 where he led corporate performance 4 of his 5 years. In December 2004, Mr. Tuffin partnered with the Clairvest Group to acquire ObusForme and Moller Back Support Systems and created Integral Orthopedics Inc., an orthopedic consumer product manufacturer for which he served as the Chief Executive Officer until 2008. Since then, Mr. Tuffin has been an investor and operating board member in various medical & consumer products companies.
Mr. Tuffin has substantial industry and management experience, having served in senior management positions for the last 23 years. He has experience in medical and consumer product fields and is uniquely qualified to bring strategic insight, experience and in-depth knowledge to the Board. Mr. Tuffin has a dual Bachelor of Science degree from The Ohio State University and is a proud Alumni of the Harvard Business School.
Rubin Hannan
President and COO
Mr. Hanan brings more than 20 years of experience in sports branding and retail business management. As President and CEO of Champs Sports, he helped vault the company into one of the largest athletic retailers, managing an organization of 9,000 employees with sustained profitability and market share throughout his tenure.
Prior to his tenure at Champs Sports, Mr. Hanan was president and CEO of Foot Locker Canada, where he managed the international business to drive record sales and profits, by creating a successful strategy tailoring specific initiatives for each Canadian Province.
In 2003, Mr. Hanan became the Senior Vice President of Retail Brand Marketing at Foot Locker, Inc., where he managed the marketing budgets and portfolios for Foot Locker, Lady Foot Locker, Kids Foot Locker, Footaction and Champs Sports. He negotiated sponsorships for the company's sports and entertainment properties, including the National Football League Super Bowl Experience, National Basketball Association Three-Point Shootout, Arena Football League sponsorship, and Champs Sports Bowl. He also managed team and athlete sponsorship agreements; entertainer and music contracts; marathons; and grassroots initiatives. In addition, Hanan was instrumental in developing many top vendor related programs with Nike, Adidas, Reebok and Under Armour.
Adam Adler
Co-founder and Chief Business Development Officer
In 2005, Mr. Adler co-founded the Ultimate Social Network, Inc. ("USNI") and served as its CEO until its acquisition in 2007, producing one of the world's largest modeling contest website, and eventually bringing the company to the public market. USNI partnered with the world-renown modeling agency Michele Pommier Talent Group, producing the Ultimate College Model. Mr. Adler and his team developed one of the most extensive modeling and networking databases on the Internet. The social networking and modeling contest website worked with many Fortune 500 companies, of which Mr. Adler built and maintained close relationships with.
Mr. Adler is an alumni of the University of South Carolina where he earned dual degrees. He received a scholarship to play tennis, and upon graduation played on the professional circuit- the ATP Tour. As a founder of Fuse Science he has implemented his vision for the company. He facilitated the transition to the public market in April 2011 and formed a team of the world's top executives all strategically placed to bring shareholder value through bringing senior level expertise. Mr. Adler spearheaded the athlete acquisition strategy Fuse has implemented to bring global awareness around its platform technology. Mr. Adler has substantial business and management experience, and a great understanding of the operation and responsibilities public companies.
Aitan Zacharin
Co-founder, Chief Marketing Officer and Chief Information Officer
Mr. Zacharin has been an executive and corporate leader in the information technology and marketing industry. From 2004 to 2010 Mr. Zacharin served as Chief Executive Officer and President of Affilico, a large performance-based marketing and customer-acquisition firm, where he was responsible for the development and viral expansion of the company's local digital marketing platform. In 2008 he founded Qualents, a leading provider of on-demand recruiting intel for the global staffing industry. He developed an intelligent recruiting platform to support top-tier staffing businesses in targeting passive candidates. The unique platform was developed to save recruiting firms significant amounts of time and millions of dollars in sourcing qualified candidates.
Mr. Zacharin, holds dual Bachelor's degrees from the University of South Florida in Tampa Bay, Florida. He is considered by his industry peers to be a strong visionary implementer, and successful operational manager. He has proven himself in simplifying current infrastructures while saving money and adding capability and capacity. Having worked in various management positions during his careers he has gained substantial experience in creating and overseeing the management of successful organizations, and has a broad understanding of the intricacies facing private and public companies.
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