GNC 2011 Annual Report Download - page 108

Table of Contents
NOTE 16. COMMITMENTS AND CONTINGENCIES (Continued)
of these impacts and develop appropriate remedial measures for DHEC approval. At this state of the investigation, however, it is not possible to estimate the
timing and extent of any remedial action that may be required, the ultimate cost of remediation, or the amount of the Company's potential liability.
In addition to the foregoing, the Company is subject to numerous federal, state, local, and foreign environmental and health and safety laws and
regulations governing its operations, including the handling, transportation, and disposal of the Company's non-hazardous and hazardous substances and
wastes, as well as emissions and discharges from its operations into the environment, including discharges to air, surface water, and groundwater. Failure to
comply with such laws and regulations could result in costs for remedial actions, penalties, or the imposition of other liabilities. New laws, changes in existing
laws or the interpretation thereof, or the development of new facts or changes in their processes could also cause the Company to incur additional capital and
operation expenditures to maintain compliance with environmental laws and regulations and environmental permits. The Company also is subject to laws and
regulations that impose liability and cleanup responsibility for releases of hazardous substances into the environment without regard to fault or knowledge
about the condition or action causing the liability. Under certain of these laws and regulations, such liabilities can be imposed for cleanup of previously owned
or operated properties, or for properties to which substances or wastes that were sent in connection with current or former operations at its facilities. The
presence of contamination from such substances or wastes could also adversely affect the Company's ability to sell or lease its properties, or to use them as
collateral for financing. From time to time, the Company has incurred costs and obligations for correcting environmental and health and safety noncompliance
matters and for remediation at or relating to certain of its properties or properties at which its waste has been disposed. The Company believes it has complied
with, and is currently complying with, its environmental obligations pursuant to environmental and health and safety laws and regulations and that any
liabilities for noncompliance will not have a material adverse effect on its business or financial performance. However, it is difficult to predict future liabilities
and obligations, which could be material.
NOTE 17. STOCKHOLDER'S EQUITY
At December 31, 2010 and 2009, there were 100 shares of Common Stock, par value $.01 per share, outstanding. All of the Company's outstanding
stock was owned by GNC Corporation at December 31, 2010.
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