Why did the company change its name from Gum Tech to Matrixx?
“Matrixx” signifies the expanded focus of the company as a high growth OTC healthcare company marketing products that utilize novel, unique and proprietary delivery systems that provide consumers with “Better Ways To Get Better®”. The company’s new name represents the evolution of Gum Tech from its origins as a gum-based OTC drug and nutrient developer into a developer of innovative application and delivery systems for Class III bioactive compounds. The strategic change in the company’s business operations in 2001, including the sale of substantially all of its chewing gum business and assets to the Wm. Wrigley Jr. Company and the acquisition of its joint venture partner’s interest in Zicam, LLC (including the Zicam product line and related nasal gel technology), positioned Matrixx to expand its existing Zicam product line and grow revenues and market share in the cough and cold category and focus on developing products to be sold in additional OTC categories.
