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Hi all,

I thought I would write some notes I had on CNXS and post some resources for further research. I will expand on these notes as news comes available.

SEC filings:

Daniel Cohen, M.D., 49 - Chairman
Marti Morfitt, 44 - Pres, CEO, Director
Marcia O'Brien, 47 - CFO --
Larry Muma, 51 - VP-Operations --
John Keppeler, 40 - VP of Worldwide Sales

CNS, Inc., based in Minneapolis, MN develops and markets consumer healthcare products, including the Breathe Right nasal strip, Breathe Right Snore Relief throat spray and FiberChoice chewable fiber tablets. And their newest product Breathe Right® Vapor Shot!™ Portable Vaporizer was just recently introduced. CNS was founded in 1982 and from 1987 till 1995, it worked on computer-based diagnostic devices for sleep disorders – a business it sold to Aequitron in 1995. After that it concentrated on the Breathe Right Nasal Strip.

CNS flagship product the Breathe Right Nasal Strip was designed and proven in clinical trials to help people who snore. Daniel Cohen, CNS's Chairman said 80 percent of U.S. households contain at least one person who snores and there are approximately 40 million chronic snorers in the U.S. Breathe Right strips decrease nasal airway resistance by 31 percent, making nasal breathing easier so the mouth can be closed and snoring can be reduced or eliminated.

People with chronic lung disease and those suffering from sleep apnea should also benefit from use of the Breathe Right nasal Strip. The Breathe Right Nasal Strip has also been marketed to athletes and might particularly appeal to runners and joggers.

Net sales of the Breathe Right nasal strip grew from $2.8 million in 1994 with a pre-tax loss of $2.6 million, to $48.6 million in 1995 with pre-tax income of $13 million.

Important news events;
/03 -10k recognizes a 9.1 million tax benefit for 4th quarter

6/03 – Shipping begins for Breathe Right(R) Vapor Shot!(TM)

2002 – New product launch - Breathe Right Snore Relief™ throat spray

1/02 - On January 23, 2002, the Company changed its fiscal year-end from December 31 of each year to March 31 of each year.

6/00 -. The Company began marketing FiberChoice® chewable tablets, an innovative bulk fiber supplement in the June quarter of 2000.

1999 - In 1999, the Company introduced its FLAIR™ equine nasal strip, a product that enables horses to breathe more easily during strenuous exercise.
1996 - In 1996, the Company began marketing the TheraPatch(TM), which is an external analgesic manufactured by LecTec Corporation.

4/96 - During April 1996, the Company completed a public offering of 1,725,000 shares of common stock. Of these shares, 1,525,000 shares were sold by the Company and 200,000 shares by selling shareholders. Net proceeds to the Company were approximately $35 million.

6/95 - On May 9, 1995, CNS announced it has executed an agreement with Aequitron Medical, Inc under which Aequitron will acquire the company's assets of the sleep disorders diagnostic business. This transaction closed on June 1, 1995. Net sale
proceeds of $5,000,000 cash and a note receivable of $595,611 produced a gain of 1.9 million.

6/95 - 2 for 1 stock split
9/94 The company began widely marketing the Breathe Right nasal strip

2003 conference call in HTML


2001 Foolish article

10Q period ending June 30th 2003

10k For the fiscal year ending March 31, 2003

10Q for period ending December 31, 2002

10Q for period ending September 30, 2002

10Q for period ending June 30, 2002

10Q for the transition period between January 1, 2002 to March 31, 2002

10k For the fiscal year ended December 31, 2001

8k change of end of fiscal year from December 31, to March 31

10k For the fiscal year ended December 31, 2000

10k For the fiscal year ended December 31, 1999

10K For the fiscal year ended December 31, 1998

10k For the fiscal year ended December 31, 1997

10Q for period ending September 30, 1997

10Q for period ending June 30, 1997

10Q for period ending March 31, 1997

10K annual report for period ending December 31, 1996

Fiscal quarter 10Q ending September 30, 1996

Fiscal quarter 10Q ending June 30, 1996

Fiscal quarter 10Q ending March 31, 1996

Fiscal year ending December 1995 10k amended

Fiscal year ending December 1995 10K

SEC 10Q 2 quarter 1995 –

10Q 3Q:95

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