Colorado small businesses are less likely to change health insurers for the upcoming year, even as they anticipate continued price increases, according to the second-annual Delta Dental of Colorado Small Business Survey.
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AlternaScript’s Alleradd pills will now be dubbed OptiMind after attorneys for AlternaScript informed the founders that they could run into problems.
Co-founder Lucas Siegel said he couldn’t name the company with which there could be problems. But the Alleradd name was a clear play on Adderall, an attention deficit hyperactivity disorder drug often abused by students and others as a cognitive enhancer.
“Changing a name, rebranding, it’s a pain,” Siegel said. “But we’re pretty excited.”
Siegel said the brand OptiMind better aligns with the company’s goal of portraying its supplement as a healthy way to unleash the brain’s power.
Siegel said simply cramming several stimulants into a pill to make your brain’s neurotransmitters fire isn’t a healthy way to increase cognitive function.
“Our product ignites your brain the same way a cup of coffee would while replenishing all the things it needs to stay healthy,” Siegel said.
Siegel and Matthew Piskorz, graduates of Fairview High in Boulder, founded AlternaScript in March of 2013 just before they graduated from CU’s business school. They’re now based in Houston nearer one of their investors.
Siegel said the pair didn’t know much about branding when they started the company, and first named their product Alleradd because they thought it was a “clever, funny name.”
The sales of their product has been plenty serious. Sales took off in March with a 400 percent increase. The company has sold more than 150,000 capsules at a rate of $43 per 32-capsule bottle.
“We now know what the winning formula is,” Siegel said. “So we’re ready to scale it to a new level.”