August 10, 2004
Nobel Offers Stock Bonus Program
Nobel Watch Co. is offering its retail partners options to purchase equity shares in its company as it intends to begin public trading at year's end or early in 2005. The plan, operational until July 31, 2005, or until shares sell out, will give participating retailers 1,000 warrants of stock for each $10,000 order of Nobel watches. Shares are priced the equivalent at $1 each but dealers receive warrants as a part of their watch purchase. Purchasers are asked to pay for the merchandise within 60 days of invoice.
CEO Izzy Genuth expects the private placement to raise $200,000 that will be used in 2005 to expand the company's marketing and advertising. "This will contribute to the retailer's own sales and expand our company's base," he says. The offer is first-come/first-serve and will top off at 200,000 shares only to those dealers who have qualifying sales within 60 days of the invoice
date. Warrant owners have up to three years to convert their shares into stock.
This year, Nobel added eight new models and next year plans to focus on new models in its 18k gold watch collection. Genuth also notes his company received a patent for the undulating crystal design that tops its rectangular Paragon Collection Wavy Face watches.
by Michael Thompson