MUST READ COMPANY OVERVIEW & DIRECTION Rx
Post# of 94143
Posted On: 12/19/2015 4:33:27 PM
MUST READ COMPANY OVERVIEW & DIRECTION
Rx Safes, Inc. was incorporated in 2010 in the State of Nevada. Our founders have an extensive background designing and developing consumer and commercially based fingerprint security products including garage door openers, front door locks, thermostats and mail boxes for companies such as Master Lock Corporation, Honeywell and The Overhead Door Company and developing marketing and sales programs through multiple distribution channels, including The Home Depot, Costco and Sears. The founders saw an opportunity to apply their knowledge with the commercialization of this technology to provide solutions for healthcare applications with an initial focus on drug security.
We are a technology and product development company that works with our contract manufacturer to design, develop and manufacture innovative patented, embedded fingerprint technology solutions for medication security and adherence, aimed at fulfilling consumer and institutional healthcare safety. We offer our proprietary fingerprint interface as a solution for customers to license and integrate into their own products, we jointly develop products with OEM partners to deliver enhanced security, accountability and convenience to their existing product offerings, and we use our technology to develop our own fingerprint based drug security products and solutions. All of our current and future products and fingerprint technology is protected under US Patent No. 6,766,040.
Our flagship product, the Rx DrugSAFE Fingerprint Medication Lockbox, is an example of the integration of our patented fingerprint technology into one our own product offerings. The Rx DrugSAFE demonstrates how our fingerprint technology makes a product smarter and more secure to prevent accidental poisonings, drug theft and diversion within the home. The same technology is being applied within commercial healthcare environments, to offer facilities a secure and convenient means by which to control and monitor access to medications, addressing loss prevention and providing tighter security and controls overall for variety of healthcare applications, in turn lowering facility costs and reducing liability.
ç
Our current patented fingerprint technology offers a simple fingerprint interface, allowing the registration and/or deletion of multiple users. Our current design employs methods that incorporate low power consumption offering extended battery life. We have recently taken steps to enhance our fingerprint interface and our current units under production offer a new, additional layer of security, by introducing an administrative function. This allows a homeowner, or a healthcare manager, to manage the enrollment of additional users who should have either permanent or temporary access to the safes contents.
2
As our technology continues to evolve, we are constantly re-evaluating options for redesign of the core electronics and mechanical locking mechanisms used in our products in order to provide further security and convenience for our customers as well as to introduce new functionality. We are taking our experience in security product design and fingerprint technology and our understanding of customer’s wants and needs and are developing a product line which we believe will help address both the social and economic issues caused by prescription drug abuse, misuse and diversion both in the home and within commercial healthcare environments. We are now in the process of incorporating new technology features to work in conjunction with our fingerprint interface, which will allow our products and technology to become “smarter” and provide additional benefits to end users, providing feedback and functionality through interactive applications that will run on smart devices and computers.
Over the course of the next 12 months, we intend to incorporate the following additional technology and functionality into our patented biometric interface:
§ The introduction new touch and swipe sensor options to suit the needs of a variety of consumer and commercial healthcare products and applications.
§ Bluetooth technology offering interoperability with multiple healthcare related applications on smart devices,
§ WIFI capability with cloud based integration, providing two-way communication between our technology/products and remote applications.
§ Improved audible feedback.
§ Medication adherence features.
§ Expanded administration to support commercial healthcare compliance.
§ GPS tracking capabilities to provide location-based information on portable healthcare security products using our technology interface.
We presently have additional products at various stages of design and testing. We have been testing a larger version of the Rx DrugSAFE; the Rx DrugSAFE Pro, which is designed to serve both the consumer and professional healthcare markets. The RxDrugSAFE PRO has been designed to accommodate a greater number of prescription pill bottles of various sizes to support the needs of a variety of healthcare environments including assisted living facilities, nursing homes and emergency service vehicles. The Rx DrugSAFE IC, which is being designed to be securely mounted inside of an existing medicine cabinet. The RxDrugSAFE Mini, which is designed for daily use while at work or play, can fit easily into a pocketbook or jacket pocket, and comes with a 4 x daily pill tray system that allows medications to be pre-loaded each week. We are also working on a field –use Mobile Medical Station (MMS). The MMS is a waterproof, shockproof and secure rolling case with telescopic handle that is secured with our patented fingerprint technology. The MMS is designed to be used out in the field by mobile healthcare workers administering medications and general preventative care under the direction of the Affordable Healthcare Act’s Home Health initiative. The case is secured using our fingerprint interface and incorporates state of the art vital statistics monitoring equipment, a rugged field tablet containing patient H&P data which can be securely uploaded to the primary healthcare enterprise system and one of our Rx DrugSAFE fingerprint lockboxes for the safe and secure transportation of medications. The company is also working on a fingerprint padlock to be used to secure existing medical transport and equipment cases.
As we continue to enhance our fingerprint technology interface with additional features, that same interface will eventually be incorporated into all of our current and future product offerings.
We continue to identify new product opportunities for the implementation and licensing of our technology for commercial healthcare applications. We recently acquired rights to intellectual property to support the development of an innovative, biometrically controlled personal patient dosing device that will work with existing PCA (Patient Controlled Analgesia) manufactured pumps offered by Smiths Medical, Abbott Laboratories, and Hospira. This product is designed to prevent the administration of pain medications, such as morphine, by unauthorized family members, caregivers or clinicians, which can have serious and sometimes fatal effects on a patient.
3
Our product development plan over the next 24 months includes a variety of new products incorporating our proprietary fingerprint interface including:
§ Fingerprint controlled dosing device;
§ Portable HIPAA compliant fingerprint EH;
§ Fingerprint OEM module;
§ Finperprint Tele-Medicine solution;
§ Biometric physical and electronic health records; and
§ Custom fingerprint technology solutions
We are committed to continue improving our fingerprint technology interface and building our intellectual property portfolio. We will file new utility and design patent applications where applicable to further protect our business.
Our patent protection provides us with a competitive advantage and a barrier to entry for our competitors within the consumer and commercial healthcare marketplaces, which are the primary target markets for our fingerprint technology and products. We have already successfully defended our patent rights and prevented competitors from entering these markets with other embedded fingerprint-based products and we will continue to aggressively protect our intellectual property rights as we build our patent portfolio.
Our consumer products target at risk users and stakeholders who understand the importance of medication security in the home. There are no other medication storage devices as secure and easy to use as the Rx DrugSAFE to address the needs of this market. There are a handful of low cost, low-grade, plastic lock box options that utilize unsecure, mechanical locking mechanism. Examples of these are from companies such as Lockmed and Saferlock. In our testing of these company’s products, 12 year olds were able to easily thwart their locking mechanisms and then re-secure the products in their apparent “locked” state, meaning that an unsuspecting parent would not be aware that these products had been accessed by their child. These products may be inexpensive but they offer users a false sense of security and minimum security and we do not consider these competitors as a real threat.
Our embedded fingerprint products and technology also offer a low cost alternative for healthcare facilities looking to enhance overall drug security and provide tighter controls and compliance without the need to the implement costly, enterprise-wide biometric systems. Decentralized medication management systems from companies such as Pyxis involve complex integration with Pyxis back end systems, require extensive facility resources and are costly to implement, with basic installation costing several hundred thousand dollars. These implementations completely change the way a facility conducts its business, requiring constant maintenance and costly personnel training. In comparison, the implementation of Rx Safes’ fingerprint embedded technology interface integrates seamlessly into a facility’s existing systems and medication dispensing equipment. We are not aware of any other companies looking to market embedded biometric solutions into healthcare. If in the future we identify companies looking to enter this marketplace, our patent protection will provide a barrier to entry and may result in additional opportunity for the company in the form of a collaborative development or licensing of our patent rights to such third party companies.
There are companies that manufacture products for commercial healthcare facilities such as Amsec, Adesco, Knox and Mesa that offer heavy-duty narcotics safes ranging in price from $500 - $3,000 upwards. These products offer various combinations of locking mechanisms. We believe that our fingerprint technology offers greater security and convenience than the options presently available through those companies, and presents an opportunity for the company to introduce its fingerprint technology within this market either directly or through collaboration with one of the leading narcotics safe manufacturers.
We are in the early stages of establishing a market for our current and future products and we recognize the importance of having a strong sales and marketing plan. Our target customers for our products and technology include:
§ OEMs – Manufacturers of Medical Equipment, Narcotics Safes and Medical Devices etc;
§ Consumers with Children or Elderly Parents;
§ Hospitals and Health Systems;
§ Group Homes, Nursing Facilities and Hospice;
§ Colleges Campuses;
§ Home Health Care Providers; and
§ Medical Marijuana patients/dispensaries
4
We are establishing a variety of channels to these customers through:
§ Strategic relationships with leading industry stakeholders;
§ OEM collaborations with brand named products and services companies;
§ E-commerce – direct from company website and through online medical distributors/resellers;
§ Private national and regional health insurers/Medicaid/Medicare;
§ Medical equipment and supply distributors;
§ Independent and retail chain pharmacies;
§ Federal, State and Local Government Agencies – utilizing public grant funds targeted to reduce prescription drug abuse;
§ Non-Profits and Community Coalitions Targeting prescription Drug Abuse;
§ Independent Sales Reps and sales teams;
§ Licensing our technology to key industry players;
§ Pharmaceutical Companies that produce schedule 2 – 5 controlled substances;
§ Medical and Dental Distributors; and
§ Doctors
Our key focus is to sell and distribute our products and technology through the development of business relationships with strategic partners who have a stake in our industry and have existing channels to market, or an audience for our products both in the consumer and commercial healthcare space. We are presently in discussions with a major retail pharmacy that is developing a national campaign to create awareness, and provide tools, to prevent prescription drug abuse.
We are also presently in discussions with a major academic establishment with a view to collaborating on research efforts incorporating the Rx DrugSAFE, which will be given to at risk families. The study would track the use and effectiveness of the Rx DrugSAFE in preventing access to dangerous narcotics and in turn preventing the potential injury caused by the use of these drugs by unauthorized persons. This collaboration may also include the co-development of a new product offering incorporating our patented fingerprint interface into a product concept developed by the facilities mechanical engineering group.
We are working on a program for a major sports league brand where our products will be incorporated into a campaign sponsored by the entity to increase awareness on the dangers of prescription drugs and the importance of securing them in the home environment.
We have also engaged in discussions with two major medical device manufacturers regarding the use of our fingerprint secured personal dosing device in conjunction with their products throughout their extensive distribution channels.
We have established relationships with a number of online medical device suppliers including MSEC, VSR Sales and we are also selling the Rx DrugSAFE online through Amazon.com.
We have engaged the services of a grant writer who is working with us to identify and obtain private, local, state and government grant funds to purchase our products as part of an overall services and educational anti-drug campaign. Our grant writer will assist organizations in conjunction with Rx Safes, Inc. looking to purchase Rx DrugSAFE units as part of a program to address prescription drug abuse, to effectively craft healthcare proposals and outcome evaluation plans that are required for many government and foundation grants. We are presently approaching a new funding year for many of the organizations that offer large grant funds in this area and we will be working with our grant writer to identify and submit applications directly and on behalf collaborative partners to access funding for the purchase of our Rx DrugSAFE products.
5
We have already taken steps to establish major distribution channels for our products and have begun to work with McKesson and Cardinal Health, and expect to also distribute our products through Amerisource Bergen. We plan to invest in the participation of their various marketing programs to provide exposure for our products within their channels of distribution, which are the national pharmacy chains as well as the many independently owned or franchised neighborhood pharmacies. We will also endeavor to build our traditional grass roots efforts, i.e., establishing our own demand at the end user level, in order to make these relationships a success. These distributors also provide products to commercial healthcare facilities, private practice doctors offices, nursing facilities, assisted living, rehabilitation centers, outpatient clinics and more.
A critical part of any business success is a strong web and social media presence. To facilitate this, we are in the process of redesigning the company’s website to more accurately reflect what we do and we anticipate this will go live by the end of summer 2015. We will hire a company to manage our social media presence as well as revamp and optimize our own website with SEO and SEM with an ultimate goal to be in the top 3 of browser searches for our products and related products. The development of the new company website is a top priority for us as it will also be a primary point of distribution of our consumer products direct to consumer. To support this we will also need to create strong visual branding and have already engaged a graphics design consultant to strengthen our visual presence across the web, promotional material and in any media campaigns.
Our ultimate goal for our consumer focused products is to make it widely attainable to the public through medical reimbursement. To this end, we are continuing to pursue FDA registration, set aside funds to pay the necessary product and facility registration and have also begun the process of navigating CMS and private health insurance companies to recognize the product as a medical device and offer reimbursement of the majority of the purchase price through their plans so that their members will only have to pay a small co-payment to purchase the product.
We have also found that trade shows are an effective way to reach a large number of potential customers for a small investment of capital and plan on attending 5 in the next 12 month period. In June 2015, we attended the International Cannabis Association Conference, where Rx Safes, Inc. exhibited and our CEO Lorraine Yarde spoke on the topic of Patient Responsibility and using the Rx DrugSAFE to Reduce Dispensary Liability.[SD4]
Because we will need to regularly inform our customers and the market on our business progress as well as provide updated information on trends in our industry our goal would be to issue Press Release’s as the business continues to achieve its milestones and the industry landscape changes.
watch
On March 26, 2015, we announced that we have established our first marijuana business reseller agreement with Medical Cannabis Institute (MCI), a leading resource for cannabis education, information and training, located in Las Vegas, Nevada. MCI assists patients in navigating the complex world of medical marijuana and will be offering the Rx DrugSAFE for sale to its clients, within its high traffic facility as well as at its website. 23 states plus DC have legalized the sale of marijuana products for medical purposes and the market is growing faster than any other emerging industry. This presents a unique opportunity for Rx Safes to position its Rx DrugSAFE product as a tool to keep marijuana and cannabis infused edibles securely locked up and away from children in the home
$RXSF
Rx Safes, Inc. was incorporated in 2010 in the State of Nevada. Our founders have an extensive background designing and developing consumer and commercially based fingerprint security products including garage door openers, front door locks, thermostats and mail boxes for companies such as Master Lock Corporation, Honeywell and The Overhead Door Company and developing marketing and sales programs through multiple distribution channels, including The Home Depot, Costco and Sears. The founders saw an opportunity to apply their knowledge with the commercialization of this technology to provide solutions for healthcare applications with an initial focus on drug security.
We are a technology and product development company that works with our contract manufacturer to design, develop and manufacture innovative patented, embedded fingerprint technology solutions for medication security and adherence, aimed at fulfilling consumer and institutional healthcare safety. We offer our proprietary fingerprint interface as a solution for customers to license and integrate into their own products, we jointly develop products with OEM partners to deliver enhanced security, accountability and convenience to their existing product offerings, and we use our technology to develop our own fingerprint based drug security products and solutions. All of our current and future products and fingerprint technology is protected under US Patent No. 6,766,040.
Our flagship product, the Rx DrugSAFE Fingerprint Medication Lockbox, is an example of the integration of our patented fingerprint technology into one our own product offerings. The Rx DrugSAFE demonstrates how our fingerprint technology makes a product smarter and more secure to prevent accidental poisonings, drug theft and diversion within the home. The same technology is being applied within commercial healthcare environments, to offer facilities a secure and convenient means by which to control and monitor access to medications, addressing loss prevention and providing tighter security and controls overall for variety of healthcare applications, in turn lowering facility costs and reducing liability.
ç
Our current patented fingerprint technology offers a simple fingerprint interface, allowing the registration and/or deletion of multiple users. Our current design employs methods that incorporate low power consumption offering extended battery life. We have recently taken steps to enhance our fingerprint interface and our current units under production offer a new, additional layer of security, by introducing an administrative function. This allows a homeowner, or a healthcare manager, to manage the enrollment of additional users who should have either permanent or temporary access to the safes contents.
2
As our technology continues to evolve, we are constantly re-evaluating options for redesign of the core electronics and mechanical locking mechanisms used in our products in order to provide further security and convenience for our customers as well as to introduce new functionality. We are taking our experience in security product design and fingerprint technology and our understanding of customer’s wants and needs and are developing a product line which we believe will help address both the social and economic issues caused by prescription drug abuse, misuse and diversion both in the home and within commercial healthcare environments. We are now in the process of incorporating new technology features to work in conjunction with our fingerprint interface, which will allow our products and technology to become “smarter” and provide additional benefits to end users, providing feedback and functionality through interactive applications that will run on smart devices and computers.
Over the course of the next 12 months, we intend to incorporate the following additional technology and functionality into our patented biometric interface:
§ The introduction new touch and swipe sensor options to suit the needs of a variety of consumer and commercial healthcare products and applications.
§ Bluetooth technology offering interoperability with multiple healthcare related applications on smart devices,
§ WIFI capability with cloud based integration, providing two-way communication between our technology/products and remote applications.
§ Improved audible feedback.
§ Medication adherence features.
§ Expanded administration to support commercial healthcare compliance.
§ GPS tracking capabilities to provide location-based information on portable healthcare security products using our technology interface.
We presently have additional products at various stages of design and testing. We have been testing a larger version of the Rx DrugSAFE; the Rx DrugSAFE Pro, which is designed to serve both the consumer and professional healthcare markets. The RxDrugSAFE PRO has been designed to accommodate a greater number of prescription pill bottles of various sizes to support the needs of a variety of healthcare environments including assisted living facilities, nursing homes and emergency service vehicles. The Rx DrugSAFE IC, which is being designed to be securely mounted inside of an existing medicine cabinet. The RxDrugSAFE Mini, which is designed for daily use while at work or play, can fit easily into a pocketbook or jacket pocket, and comes with a 4 x daily pill tray system that allows medications to be pre-loaded each week. We are also working on a field –use Mobile Medical Station (MMS). The MMS is a waterproof, shockproof and secure rolling case with telescopic handle that is secured with our patented fingerprint technology. The MMS is designed to be used out in the field by mobile healthcare workers administering medications and general preventative care under the direction of the Affordable Healthcare Act’s Home Health initiative. The case is secured using our fingerprint interface and incorporates state of the art vital statistics monitoring equipment, a rugged field tablet containing patient H&P data which can be securely uploaded to the primary healthcare enterprise system and one of our Rx DrugSAFE fingerprint lockboxes for the safe and secure transportation of medications. The company is also working on a fingerprint padlock to be used to secure existing medical transport and equipment cases.
As we continue to enhance our fingerprint technology interface with additional features, that same interface will eventually be incorporated into all of our current and future product offerings.
We continue to identify new product opportunities for the implementation and licensing of our technology for commercial healthcare applications. We recently acquired rights to intellectual property to support the development of an innovative, biometrically controlled personal patient dosing device that will work with existing PCA (Patient Controlled Analgesia) manufactured pumps offered by Smiths Medical, Abbott Laboratories, and Hospira. This product is designed to prevent the administration of pain medications, such as morphine, by unauthorized family members, caregivers or clinicians, which can have serious and sometimes fatal effects on a patient.
3
Our product development plan over the next 24 months includes a variety of new products incorporating our proprietary fingerprint interface including:
§ Fingerprint controlled dosing device;
§ Portable HIPAA compliant fingerprint EH;
§ Fingerprint OEM module;
§ Finperprint Tele-Medicine solution;
§ Biometric physical and electronic health records; and
§ Custom fingerprint technology solutions
We are committed to continue improving our fingerprint technology interface and building our intellectual property portfolio. We will file new utility and design patent applications where applicable to further protect our business.
Our patent protection provides us with a competitive advantage and a barrier to entry for our competitors within the consumer and commercial healthcare marketplaces, which are the primary target markets for our fingerprint technology and products. We have already successfully defended our patent rights and prevented competitors from entering these markets with other embedded fingerprint-based products and we will continue to aggressively protect our intellectual property rights as we build our patent portfolio.
Our consumer products target at risk users and stakeholders who understand the importance of medication security in the home. There are no other medication storage devices as secure and easy to use as the Rx DrugSAFE to address the needs of this market. There are a handful of low cost, low-grade, plastic lock box options that utilize unsecure, mechanical locking mechanism. Examples of these are from companies such as Lockmed and Saferlock. In our testing of these company’s products, 12 year olds were able to easily thwart their locking mechanisms and then re-secure the products in their apparent “locked” state, meaning that an unsuspecting parent would not be aware that these products had been accessed by their child. These products may be inexpensive but they offer users a false sense of security and minimum security and we do not consider these competitors as a real threat.
Our embedded fingerprint products and technology also offer a low cost alternative for healthcare facilities looking to enhance overall drug security and provide tighter controls and compliance without the need to the implement costly, enterprise-wide biometric systems. Decentralized medication management systems from companies such as Pyxis involve complex integration with Pyxis back end systems, require extensive facility resources and are costly to implement, with basic installation costing several hundred thousand dollars. These implementations completely change the way a facility conducts its business, requiring constant maintenance and costly personnel training. In comparison, the implementation of Rx Safes’ fingerprint embedded technology interface integrates seamlessly into a facility’s existing systems and medication dispensing equipment. We are not aware of any other companies looking to market embedded biometric solutions into healthcare. If in the future we identify companies looking to enter this marketplace, our patent protection will provide a barrier to entry and may result in additional opportunity for the company in the form of a collaborative development or licensing of our patent rights to such third party companies.
There are companies that manufacture products for commercial healthcare facilities such as Amsec, Adesco, Knox and Mesa that offer heavy-duty narcotics safes ranging in price from $500 - $3,000 upwards. These products offer various combinations of locking mechanisms. We believe that our fingerprint technology offers greater security and convenience than the options presently available through those companies, and presents an opportunity for the company to introduce its fingerprint technology within this market either directly or through collaboration with one of the leading narcotics safe manufacturers.
We are in the early stages of establishing a market for our current and future products and we recognize the importance of having a strong sales and marketing plan. Our target customers for our products and technology include:
§ OEMs – Manufacturers of Medical Equipment, Narcotics Safes and Medical Devices etc;
§ Consumers with Children or Elderly Parents;
§ Hospitals and Health Systems;
§ Group Homes, Nursing Facilities and Hospice;
§ Colleges Campuses;
§ Home Health Care Providers; and
§ Medical Marijuana patients/dispensaries
4
We are establishing a variety of channels to these customers through:
§ Strategic relationships with leading industry stakeholders;
§ OEM collaborations with brand named products and services companies;
§ E-commerce – direct from company website and through online medical distributors/resellers;
§ Private national and regional health insurers/Medicaid/Medicare;
§ Medical equipment and supply distributors;
§ Independent and retail chain pharmacies;
§ Federal, State and Local Government Agencies – utilizing public grant funds targeted to reduce prescription drug abuse;
§ Non-Profits and Community Coalitions Targeting prescription Drug Abuse;
§ Independent Sales Reps and sales teams;
§ Licensing our technology to key industry players;
§ Pharmaceutical Companies that produce schedule 2 – 5 controlled substances;
§ Medical and Dental Distributors; and
§ Doctors
Our key focus is to sell and distribute our products and technology through the development of business relationships with strategic partners who have a stake in our industry and have existing channels to market, or an audience for our products both in the consumer and commercial healthcare space. We are presently in discussions with a major retail pharmacy that is developing a national campaign to create awareness, and provide tools, to prevent prescription drug abuse.
We are also presently in discussions with a major academic establishment with a view to collaborating on research efforts incorporating the Rx DrugSAFE, which will be given to at risk families. The study would track the use and effectiveness of the Rx DrugSAFE in preventing access to dangerous narcotics and in turn preventing the potential injury caused by the use of these drugs by unauthorized persons. This collaboration may also include the co-development of a new product offering incorporating our patented fingerprint interface into a product concept developed by the facilities mechanical engineering group.
We are working on a program for a major sports league brand where our products will be incorporated into a campaign sponsored by the entity to increase awareness on the dangers of prescription drugs and the importance of securing them in the home environment.
We have also engaged in discussions with two major medical device manufacturers regarding the use of our fingerprint secured personal dosing device in conjunction with their products throughout their extensive distribution channels.
We have established relationships with a number of online medical device suppliers including MSEC, VSR Sales and we are also selling the Rx DrugSAFE online through Amazon.com.
We have engaged the services of a grant writer who is working with us to identify and obtain private, local, state and government grant funds to purchase our products as part of an overall services and educational anti-drug campaign. Our grant writer will assist organizations in conjunction with Rx Safes, Inc. looking to purchase Rx DrugSAFE units as part of a program to address prescription drug abuse, to effectively craft healthcare proposals and outcome evaluation plans that are required for many government and foundation grants. We are presently approaching a new funding year for many of the organizations that offer large grant funds in this area and we will be working with our grant writer to identify and submit applications directly and on behalf collaborative partners to access funding for the purchase of our Rx DrugSAFE products.
5
We have already taken steps to establish major distribution channels for our products and have begun to work with McKesson and Cardinal Health, and expect to also distribute our products through Amerisource Bergen. We plan to invest in the participation of their various marketing programs to provide exposure for our products within their channels of distribution, which are the national pharmacy chains as well as the many independently owned or franchised neighborhood pharmacies. We will also endeavor to build our traditional grass roots efforts, i.e., establishing our own demand at the end user level, in order to make these relationships a success. These distributors also provide products to commercial healthcare facilities, private practice doctors offices, nursing facilities, assisted living, rehabilitation centers, outpatient clinics and more.
A critical part of any business success is a strong web and social media presence. To facilitate this, we are in the process of redesigning the company’s website to more accurately reflect what we do and we anticipate this will go live by the end of summer 2015. We will hire a company to manage our social media presence as well as revamp and optimize our own website with SEO and SEM with an ultimate goal to be in the top 3 of browser searches for our products and related products. The development of the new company website is a top priority for us as it will also be a primary point of distribution of our consumer products direct to consumer. To support this we will also need to create strong visual branding and have already engaged a graphics design consultant to strengthen our visual presence across the web, promotional material and in any media campaigns.
Our ultimate goal for our consumer focused products is to make it widely attainable to the public through medical reimbursement. To this end, we are continuing to pursue FDA registration, set aside funds to pay the necessary product and facility registration and have also begun the process of navigating CMS and private health insurance companies to recognize the product as a medical device and offer reimbursement of the majority of the purchase price through their plans so that their members will only have to pay a small co-payment to purchase the product.
We have also found that trade shows are an effective way to reach a large number of potential customers for a small investment of capital and plan on attending 5 in the next 12 month period. In June 2015, we attended the International Cannabis Association Conference, where Rx Safes, Inc. exhibited and our CEO Lorraine Yarde spoke on the topic of Patient Responsibility and using the Rx DrugSAFE to Reduce Dispensary Liability.[SD4]
Because we will need to regularly inform our customers and the market on our business progress as well as provide updated information on trends in our industry our goal would be to issue Press Release’s as the business continues to achieve its milestones and the industry landscape changes.
watch
On March 26, 2015, we announced that we have established our first marijuana business reseller agreement with Medical Cannabis Institute (MCI), a leading resource for cannabis education, information and training, located in Las Vegas, Nevada. MCI assists patients in navigating the complex world of medical marijuana and will be offering the Rx DrugSAFE for sale to its clients, within its high traffic facility as well as at its website. 23 states plus DC have legalized the sale of marijuana products for medical purposes and the market is growing faster than any other emerging industry. This presents a unique opportunity for Rx Safes to position its Rx DrugSAFE product as a tool to keep marijuana and cannabis infused edibles securely locked up and away from children in the home
$RXSF
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