Supplement No. ____
Name of Recipient
 

SKINNY NUTRITIONAL CORP.

SUPPLEMENT NO. 1
TO
CONFIDENTIAL SUBSCRIPTION AGREEMENT DATED APRIL 7, 2010
          

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Private Sale of Securities
$250,000 Minimum - $1,500,000 Maximum

Minimum Offering Consisting of 4,166,667 Shares of Common Stock
And Warrants to Purchase 4,166,667 Shares of Common Stock

Maximum Offering Consisting of 25,000,000 Shares of Common Stock
And Warrants to Purchase 25,000,000 Shares of Common Stock
                   

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THIS SUPPLEMENT CONTAINS MATERIAL NONPUBLIC INFORMATION CONCERNING SKINNY
NUTRITIONAL CORP. AND IS PREPARED SOLELY FOR THE USE OF THE OFFEREE NAMED
ABOVE.  ANY USE OF THIS INFORMATION FOR ANY PURPOSE OTHER THAN IN CONNECTION
WITH THE CONSIDERATION OF AN INVESTMENT IN THE SECURITIES OFFERED HEREBY MAY
SUBJECT THE USER TO CRIMINAL AND CIVIL LIABILITY.

THE SECURITIES OFFERED HEREBY ARE HIGHLY SPECULATIVE AND INVOLVE A HIGH DEGREE
OF RISK AND IMMEDIATE DILUTION AND MAY BE PURCHASED ONLY BY PERSONS WHO QUALIFY
AS “ACCREDITED INVESTORS” UNDER RULE 501 (a) OF REGULATION D UNDER THE
SECURITIES ACT.

THIS DOCUMENT HAS NOT BEEN FILED WITH OR REVIEWED BY THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION OR ANY OTHER COMMISSION OR REGULATORY
AUTHORITY, AND HAS NOT BEEN FILED WITH OR REVIEWED BY THE ATTORNEY GENERAL OF
ANY STATES NOR HAS ANY SUCH COMMISSION, AUTHORITY OR ATTORNEY GENERAL DETERMINED
WHETHER IT IS ACCURATE OR COMPLETE OR PASSED UPON OR ENDORSED THE MERITS OF THIS
OFFERING.  ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Selling Agent:

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PHILADEPHIA BROKERAGE CORPORATION
2 Radnor Corporate Center
100 Matsonford Road, Suite 111
Radnor, Pennsylvania 19087
Tel. (610) 975-9990

The date of this Supplement No. 1 is May 5, 2010

 
 

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THIS SUPPLEMENT NO. 1 IS AN INTEGRAL PART OF, AND SHOULD BE READ IN CONJUNCTION
WITH, THE CONFIDENTIAL SUBSCRIPTION AGREEMENT DATED APRIL 7, 2010 (THE
“SUBSCRIPTION AGREEMENT”) OF SKINNY NUTRITIONAL CORP. (THE “COMPANY”).

THE INFORMATION PRESENTED HEREIN MAY ADD, UPDATE OR CHANGE INFORMATION IN THE
SUBSCRIPTION AGREEMENT. ACCORDINGLY, THIS SUPPLEMENT NO. 1 SHOULD BE DEEMED PART
OF AND READ IN CONJUNCTION WITH THE SUBSCRIPTION AGREEMENT. EXCEPT AS
SPECIFICALLY SET FORTH OR MODIFIED BY THIS SUPPLEMENT NO. 1, THE TERMS AND
PROVISIONS OF THE OFFERING AND OTHER RELEVANT INFORMATION AS SET FORTH IN THE
SUBSCRIPTION AGREEMENT SHALL REMAIN IN PLACE AND WILL NOT BE CHANGED.
 
THE INFORMATION IN THIS SUPPLEMENT NO. 1 IS CURRENT ONLY AS OF THE DATE ON THE
COVER AND MAY CHANGE ANY TIME HEREAFTER. THIS SUPPLEMENT DOES NOT CONSTITUTE AN
OFFER OR SOLICITATION IN ANY JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS
UNLAWFUL. ANY DISTRIBUTION OR REPRODUCTION OF ALL OR ANY PART OF THIS SUPPLEMENT
OR THE DIVULGENCE OF ITS CONTENTS IS UNAUTHORIZED. BY ACCEPTING DELIVERY OF THIS
SUPPLEMENT, THE RECIPIENT AGREES TO THE FOREGOING.
 
THE PURPOSE OF THIS SUPPLEMENT IS TO NOTIFY EXISTING AND PROSPECTIVE SUBSCRIBERS
TO THE SECURITIES OF THE COMPANY OF THE INFORMATION DESCRIBED HEREIN UNDER THE
HEADING “SUPPLEMENTAL INFORMATION.” ALL PROSPECTIVE SUBSCRIBERS TO THE OFFERING,
TOGETHER WITH THEIR ADVISORS, SHOULD CAREFULLY REVIEW THIS SUPPLEMENT NO. 1 AND
THE SUBSCRIPTION AGREEMENT PRIOR TO ANY DECISION TO PURCHASE
SECURITIES.  PROSPECTIVE SUBSCRIBERS SHOULD NOT CONSTRUE THE CONTENTS OF THIS
SUPPLEMENT OR THE SUBSCRIPTION AGREEMENT AS LEGAL, TAX OR FINANCIAL ADVICE. EACH
PROSPECTIVE SUBSCRIBER IN THE COMPANY SHOULD CONSULT THEIR OWN PROFESSIONAL
ADVISERS AS TO THE LEGAL, TAX OR FINANCIAL CONSEQUENCES OR OTHER MATTERS
RELEVANT TO THE SUITABILITY OF INVESTING IN THE SECURITIES.
 
THIS SUPPLEMENT IS NOT INTENDED TO BE, AND IS NOT, COMPLETE AND IS SUBJECT TO,
AND QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE MORE DETAILED DESCRIPTION OF
THE OFFERING AND OTHER RELEVANT INFORMATION SET FORTH IN THE SUBSCRIPTION
AGREEMENT, ANY APPENDICES, EXHIBITS OR ADDITIONAL SUPPLEMENTS THERETO,
INCLUDING, WITHOUT LIMITATION, THE NOTICES, DISCLAIMERS AND RISK FACTORS
INCLUDED THEREIN.

 
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INTRODUCTION

This Supplement Number 1 (“Supplement No. 1”) to the Confidential Subscription
Agreement dated April 7, 2010 (the “Subscription Agreement”) of Skinny
Nutritional Corp. (the “Company”) amends and supplements the Subscription
Agreement as provided for herein.  This Supplement No. 1 should be read together
with the original Subscription Agreement. Capitalized terms used in this
Supplement No. 1 without definition have the same meaning specified therefore in
the original Subscription Agreement.

SUPPLEMENTAL INFORMATION

Status of Offering

As of the date of this Supplement No. 1, the Company, pursuant to the terms of
the Subscription Agreement, has accepted subscriptions of $1,215,000 for an
aggregate of 20,249,997 shares of Common Stock and 20,249,997 Warrants. Net
proceeds from such sales of the Securities, after payment of offering expenses
and commissions, are approximately $1,055,000.

Amendment of Offering

The Subscription Agreement is hereby amended as follows:

The Company and Philadelphia Brokerage Corp. (the “Selling Agent”) have agreed
to increase the Maximum Offering to $2,000,000 of Securities from $1,500,000 of
Securities.

Accordingly, if the Maximum Offering amount is sold, the Company would issue an
additional $500,000 of Securities, or 8,333,333 additional shares of Common
Stock and 8,333,333 additional Warrants. Therefore, if the Maximum Offering
amount is subscribed for, the total amount of Securities which the Company may
issue in the Offering is 33,333,333 Common Shares and 33,333,333 Warrants. In
addition, the total compensation payable to the Selling Agent will be increased
proportionately to reflect the increase in the Maximum Offering, such that if
the Maximum Offering is subscribed for, the Selling Agent will receive total
commissions of $200,000 and will be issued 3,333,333 Agent Warrants.

Reconfirmation

To the extent a signatory of this Supplement No. 1 has previously subscribed for
Securities of the Company, the undersigned hereby acknowledges receipt of this
Supplement No. 1, has read and understands the foregoing and reconfirms its
subscription in full for the Securities pursuant to the Subscription Agreement
that the undersigned has previously executed, as amended hereby

If the recipient has not previously subscribed for Securities, the undersigned,
by its signature to this Supplement No. 1, acknowledges receipt of this
Supplement No. 1, has read and understands the foregoing and agrees to the terms
of the Offering as set forth in the Subscription Agreement and as amended
hereby.
 

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Your attention is directed to the Subscription Agreement for additional
information concerning the subscription procedures.

Please acknowledge your receipt of this Supplement No. 1 and confirm your
agreement to subscribe for Securities of the Company by signing this Supplement
No. 1 on the following signature page and returning the same to me.  Please call
me in the event you have any questions.

 
Very truly yours,
     
Skinny Nutritional Corp.
     
Donald J. McDonald,
 
Chief Financial Officer

 
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ACKNOWLEDGMENT

The undersigned subscriber acknowledges receipt of this Supplement No. 1 and
confirms its subscription for Securities of the Company on the terms and
conditions stated herein. This acknowledgment should be returned with your
Subscription Agreement.

Dated as of ____________ __, 2010
     
       
Corporation/Entity Signature:
 
Individual(s) Signature:
     
                 
 
   
Print Name of Entity Subscriber
 
Signature
     
By
        
 
   
 
 
Signature
     
                
 
   
Print Name and Title of
 
Print Name of Individual
Person Signing
       
   
   
Print Name of Individual

 
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