Share This Profile
Share this profile on Facebook.
Link to this profile on LinkedIn.
Tweet this profile on Twitter.
Email a link to this profile.
See other services through which you can share this profile.
This profile was last updated on 7/11/14  and contains information from public web pages and contributions from the ZoomInfo community.

Dr. Samuel /Fa/ Herschkowitz

Wrong Dr. Samuel /Fa/ Herschkowitz?

Board Member

Phone: (651) ***-****  HQ Phone
Skyline Medical Inc.
2915 Commers Drive, Suite 900
Eagan, Minnesota 55121
United States

Company Description: SMI specializes in acquisitions and liquidations of new and used medical equipment. Our extensive surgical backgound allows us to competently assist doctors,...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • M.D
  • Syracuse University
  • medical degree
    Downstate Medical Center College of Medicine
  • MD To Step Down
  • M.D.
  • MD
68 Total References
Web References
Mr. Kornberg was appointed to the ...
investors.skylinemedical.com, 11 July 2014 [cached]
Mr. Kornberg was appointed to the Board in March 2012 at the direction of Dr. Samuel Herschkowitz, pursuant to the terms of the note purchase agreement executed with Dr. Herschkowitz in December 2011.
...
As long as any amount payable under the note remains outstanding, Dr. Herschkowitz or his designee is entitled to appoint a special advisor to the Company's Board of Directors, who will be appointed as a member of the Board upon request.
...
Josh Kornberg, who is a member of the Company's Board of Directors, and Dr. Samuel Herschkowitz are affiliates of the manager of SOK Partners and Ricardo Koenigsberger, a director, is a holder of membership units of SOK Partners.
...
On March 28, 2012, the Company signed an Amended and Restated Note Purchase Agreement, dated as of December 20, 2011, with Dr. Samuel Herschkowitz (as amended, the "Herschkowitz Purchase Agreement"). Pursuant to the Herschkowitz Purchase Agreement, the Company issued a 20.0% convertible note due June 20, 2012 in the principal amount of $240,000 for previous advances under the note. The Company's obligations under the note are secured by the grant of a security interest in substantially all tangible and intangible assets of the Company. The Company has previously issued to Dr. Herschkowitz an equity bonus consisting of 1,546,667 shares of common stock.
An additional 7,500,000 shares were transferred to Dr. Herschkowitz effective in April 2012, upon the occurrence of an event of default on the note. On August 13, 2012 the Company entered into a settlement and forbearance agreement relating to the defaults under the note and other matters. Among other things, the Company issued 26.5 million shares of common stock to Dr. Herschkowitz and SOK Partners and adjusted the conversion price of the notes held by such parties, in exchange for forbearance from Dr. Herschkowitz asserting his rights as a secured creditor, an extension of the due dates of the notes and other consideration. See "Letter Agreement With Investors Regarding Forbearance and Dilution Protection".
As long as any amount payable under the note remains outstanding, Dr. Herschkowitz or his designee is entitled to appoint a special advisor to the Company's Board of Directors, who will be appointed as a member of the Board upon request.
...
On August 13, 2012, the Company entered into a letter agreement with Dr. Samuel Herschkowitz, his affiliate, Atlantic Partners Alliance ("APA"), and SOK Partners, LLC ("SOK"), an investment partnership. Dr. Herschkowitz and Joshua Kornberg, the Chief Executive Officer of the Company, are managers of APA and SOK Partners.
...
Under the letter agreement, among other things, (i) Dr. Herschkowitz agreed to forbear from asserting his rights as a secured creditor to substantially all of the Company's assets, resulting from the Company's defaults; (ii) the Company agreed to issue shares of common stock to Dr. Herschkowitz and SOK and adjust the conversion price of their convertible notes to satisfy the Company's obligations to adjust for dilution; (iii) Dr. Herschkowitz and SOK agreed to extend the maturity of their notes; (iv) The Company agreed to pay certain compensation to Dr. Herschkowitz upon the achievement of financial milestones and (v) Dr. Herschkowitz clarified and waived certain of his rights, including the right to interest at a penalty rate upon default.
Background . Dr. Herschkowitz and the Company entered into a Note Purchase Agreement dated as of December 20, 2011 and subsequently amended and restated effective as of the same date (as amended, the "Herschkowitz Note Purchase Agreement") pursuant to which the Company issued and sold to Dr. Herschkowitz a convertible promissory note in the original principal amount of $225,000 (as amended concurrently with the Herschkowitz Note Purchase Agreement, the "Herschkowitz Note"). As security for the Herschkowitz Note, Dr. Herschkowitz holds a first security interest in substantially all of the assets of the Company.
...
The parties acknowledged that Dr. Herschkowitz and SOK would not have made their historical cash investments in the Company to the same degree had the dilution protection not been provided, and the investments by these parties have enabled the Company to avoid insolvency. Since the respective dates of the Herschkowitz Note Purchase Agreement and the SOK Note Purchase Agreement, the Company has issued in excess of 16,000,000 shares of common stock to parties other than APA and its affiliates, resulting in significant dilution.
Default Notice . Pursuant to a letter dated April 20, 2012 and as disclosed in the Form 10-Q for the quarter ended March 31, 2012, Dr. Herschkowitz advised the Company of the occurrence of numerous events of default under the terms of the Herschkowitz Note and the Herschkowitz Note Purchase Agreement. As a result of such events of default, Dr. Herschkowitz asserted significant rights as a secured creditor of the Company, including his rights as a secured creditor with a security interest in substantially all assets of the Company. Without a settlement relating to the defaults and other matters, Dr. Herschkowitz could have taken action to levy upon the Company's assets, including patents and other intellectual property.
Terms of Letter Agreement Relating to Settlement.
Forbearance . In the letter agreement, Dr. Herschkowitz agrees to forbear from exercising any of his rights arising under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement with respect to the existing defaults against the Company, subject to the limitations set forth in the letter agreement and without releasing or waiving any future breach of the letter agreement. He further agrees to forbear from exercising any rights with respect to events of default, security interests in the collateral and other similar remedies against the Company or his interests under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement until the occurrence of an event of default in the Herschkowitz Note: (a) that does not constitute an existing default and (b) occurs and accrues after the effective date of the letter agreement.
Penalty Shares; No Penalty Interest . Dr. Herschkowitz and the Company acknowledge that 7.5 million shares of the Company's common stock, constituting the "penalty shares" under the Herschkowitz Note Purchase Agreement, were delivered to Dr. Herschkowitz in April 2012 as provided in the Herschkowitz Note Purchase Agreement upon an event of default. Notwithstanding a provision that would have increased the rate of interest from 20% to 24% upon an event of default, Dr. Herschkowitz agreed that the Company would not pay the increased rate of interest but would accrue interest at 20% until a subsequent event of default.
Extension of Due Dates and Other Amendments to Notes . The Herschkowitz Note and the SOK Note were amended as follows: (i) the due dates of the notes are extended to December 31, 2012, from the previous due dates of June 20, 2012 and August 28, 2012, respectively; (ii) Dr. Herschkowitz will release his security agreement after payment of all currently outstanding promissory notes to parties other than SOK; and (iii) the Herschkowitz Note was amended to add certain events of default relating to judgments against the Company or other creditors taking action with respect to the collateral.
18
Adjustment for Dilution . APA and its affiliates agreed to terminate the letter agreement regarding dilution dated March 14, 2012. In consideration of the various provisions of the letter agreement and in recognition of the understanding of the parties regarding dilution and the agreements of APA and its affiliates to forebear and to extend the due dates of the notes, the Company (i) issued 13,250,000 shares to Dr. Herschkowitz, (ii) issued 13,250,000 shares to SOK, and (iii) the conversion price of the Herschkowitz Note and the SOK Note were changed to $0.014 per share from $0.065 per share. Based on the principal balance and accrued interest through June 30, 2012 as a result of the adjusted conversion price, the Herschkowitz Note and the SOK Note in the aggregate were convertible into approximately 42.7 million shares of common stock.
Milestone Fees . In the event that the Company consummates the following series of transactions on or prior to June 30, 2013: (i) a merger or similar transaction with a public shell company, (ii) raising between $2 million and $4 million through an offering of the securities of the public shell company concurrent with or subsequent to the shell merger and (iii) listing the Company's shares on NASDAQ pursuant to an underwritten offering of the Company's securities resulting in gross proceeds of between $5 million and $30 million then the Company shall deliver to Dr. Herschkowitz the following compensation: (A) $75,000 upon consummating the shell merger, (B) $150,000 upon consummating the qualifying financing round and (C) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $1,000,000. The Company shall reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions but in no event in an amount greater than
Mr. Koenigsberger was appointed to the ...
www.sec.gov, 27 Aug 2013 [cached]
Mr. Koenigsberger was appointed to the Board on June 25, 2012 at the direction of Dr. Samuel Herschkowitz, pursuant to the terms of the note purchase agreement executed with Dr. Herschkowitz in December 2011.
...
Mr. Kornberg was appointed to the Board in March 2012 at the direction of Dr. Samuel Herschkowitz, pursuant to the terms of the note purchase agreement executed with Dr. Herschkowitz in December 2011.
...
As long as any amount payable under the note remains outstanding, Dr. Herschkowitz or his designee is entitled to appoint a special advisor to the Company's Board of Directors, who will be appointed as a member of the Board upon request.
Samuel Herschkowitz, M.D., ...
www.sec.gov, 29 April 2004 [cached]
Samuel Herschkowitz, M.D., 54, has been Chairman of the Board of Delcath since 1998 and Delcath's Chief Technical Officer since 1991.His term expires at the 2005 Annual Meeting.In 1987, he co-founded Venkol Ventures L.P. and Venkol Ventures, Ltd., two affiliated venture capital funds specializing in medical technology investments, which are no longer active.Dr. Herschkowitz is board certified in psychiatry and neurology.He is an assistant professor at New York University Medical Center and has held academic positions at Beth Israel Hospital, Mount Sinai Medical School and Downstate Medical Center.Dr. Herschkowitz graduated from Syracuse University and received his medical degree from Downstate Medical Center College of Medicine.
M. S. Koly, 63, has been President, Chief Executive Officer and Treasurer of Delcath since 1998 and has served as a Director since 1988.His term expires at the 2005 Annual Meeting.
...
Samuel Herschkowitz, M.D. 54 Chief Technical Officer, Chairman of the Board and Secretary
...
A brief description of the business experience of Mr. Koly and Dr. Herschkowitz is set forth above.
Strategic Advisors | Amarantus BioSciences
www.amarantus.com, 28 Sept 2012 [cached]
Dr. Samuel Herschkowitz
Advisor to the Board of Directors
Since 1982, Dr. Samuel Herschkowitz has been a known leader in the area of biotechnology, healthcare devices and pharmaceutical development. Dr. Herschkowitz has participated in the development of many biotechnology innovations. He was one of the original investors in Theragenics Corporation, a New York Stock Exchange company, which innovated the development of high energy, short duration, radioactive seeds for the treatment of prostate cancer. He is also a founder of Delcath Systems, a NASDAQ company, specializing in the delivery of high dose chemotherapy to targeted area of cancer growth. He has provided early seed investment money and bridge financing for companies such as Perceptive Systems, Oncogene Sciences and, most recently, Serenity Pharmaceuticals.
Presently, Dr. Herschkowitz is the Chief Executive Office of Serenity Pharmaceuticals which specializes in the commercialization of urological pharmaceuticals. In addition, from 1982 until 2001, Dr. Herschkowitz was a general partner of two venture capital funds, Banipal and Venkol ventures, which specialized in the investment in health care technology and pharmaceuticals.
SAMUEL HERSCHKOWITZ, M.D., ...
www.sec.gov, 16 May 2007 [cached]
SAMUEL HERSCHKOWITZ, M.D., 57, has been Chief Operating Officer since January 2007 and a Class II Director since 1988.His term expires at the 2008 Annual Meeting.He also served as Delcath's Chief Technical Officer from 1991 to 2006 and as Chairman of the Board of Delcath from 1998 to December 2006.Dr. Herschkowitz is board certified in psychiatry and neurology.He is a professor at New York University Medical Center and has held academic positions at Beth Israel Hospital, Mount Sinai Medical School and SUNY Downstate Medical Center.
...
Samuel Herschkowitz, MD Chief Operating Officer - --------------------------------------- ------------------------------------------------
A brief description of the business experience of Mr. Taney and Dr. Herschkowitz is set forth above.
Accelerate your business with the industry's most comprehensive profiles on business people and companies.
Find business contacts by city, industry and title. Our B2B directory has just-verified and in-depth profiles, plus the market's top tools for searching, targeting and tracking.
Atlanta | Boston | Chicago | Houston | Los Angeles | New York
Browse ZoomInfo's business people directory. Our professional profiles include verified contact information, biography, work history, affiliations and more.
Browse ZoomInfo's company directory. Our company profiles include corporate background information, detailed descriptions, and links to comprehensive employee profiles with verified contact information.
zirhbt201304