ALRT - Let’s take a look at recent developments for ALRT. Apologies for the length but all information contained here is fact and in the filings. No opinions are included
9/19/17 – ALR Technologies receives FDA clearance for its insulin dose adjustment feature of the ALR Technologies Inc. Diabetes Managements System (also referred to as the “ALR Health-e-Connect System”).
September 25, 2017, the Company issued a press release announcing 1) that is has added international reference dosing to insulin dose adjustment 2) has contacted the SEC to seek guidance to remedy its reporting deficiencies and 3) it has authorized a private placement up to $5 million for the issuance of convertible debentures that are convertible at $0.05 per share.
October 16, 2017, the Company issued a press release announcing 1) that is releasing details of its ALR Technologies Diabetes Management System including links to videos describing the features and 2) that the Company has provided the Securities Exchange Commission with a letter of intention to correct its reporting deficiencies by January 26, 2018.
The fun is beginning
12/8/17 – 10 K filed for fiscal year end 2015
12/22/17 – 10Q filed for 1st quarter of 2016 period ending 3/31/16
12/29/17 – 10 Q filed for 2nd quarter of 2016 period ending 6/30/2016
12/29/17 – 10Q filed for 3rd quarter of 2016 period ending 9/30/2016
October 18, 2017, ALR Technologies Inc. (the “Company”) issued a Form 8K noting that the Company provided the Securities Exchange Commission (SEC) with a letter of intention to correct its reporting deficiencies by January 26, 2018. To date the Company has filed its 2015 10K, its three 2016 10Qs and is currently undergoing its year-ended December 31, 2016 financial statement audit. To remedy its reporting deficiencies, the Company must file its 2016 10K and 2017 10Qs, which requires an extension from its original timeline. The Company has issued the SEC with an updated letter of intention to extend the period to correct its reporting deficiencies on or before February 28, 2018. The Company expects to file its 2016 10K on or before February 2, 2018.
2/2/18 – Filed 10K for fiscal year end 2016
2/23/18 _ Filed 10Q for 1st quarter of 2017 period ending 3/31/2017
2/26/18 – Filed 10Q for 2nd quarter of 2017 period ending 6/30/17
2/26/18 – Filed 10Q for 3rd quarter of 2017 period ending 9/30/17
AS OF THIS DATE, ALRT WAS NOW CURRENT IN THEIR FILINGS.
Did you catch that? In a matter of 2.5 months, the company became current in their filings after an almost 2 year delinquent period. But they aren’t done.
3/30/18 – Filed 10K for fiscal year end 2017
On January 27, 2017, the Company’s Board of Directors approved a 100-for-1 reverse stock split (the” Reverse Stock Split”) of the Company’s common stock. The Company did not obtain approval for the Reverse Stock Split from the FINRA as the Company was delinquent with its reporting requirements with the SEC. As a result, the reverse stock split could not be effected on the OTC Markets trading platform and the Company did not have its transfer agent exchange any share certificates for the reverse stock split. On February 22, 2018, the Board of Directors of ALR Technologies Inc. approved a resolution to revoke the Reverse Stock Split in order to ensure to the capital structure of its common stock matched the trading shares on the OTC Markets trading platform.
5/15/18 – Filed 10Q for 2018 period ending 3/30/18 (on time)
May 14, 2018, the Company issued a press release announcing the advancement of its ALRT Diabetes Solution product and its plans for marketing and selling the product.
6/13/18 - The board of directors (the “Board”) of ALR Technologies Inc. (the “Company”) have elected to migrate or re-domicile the Company from the United States of America to Canada (the “Migration”). Accordingly, the Board has instructed Management to work with legal counsel to present a suitable Migration plan for the Company that is in compliance with all applicable regulatory authorities.
September 25, 2017 the Company announced that it had authorized a private placement up to $5 million for the issuance of convertible debentures that are convertible into shares of common stock at a price of $0.05 per share (the “Note”).
June 13, 2018 the Chairman and Chief Executive Officer (the “Chairman”) of the Company accepted a proposal from the board of directors of the Company to purchase the $5,000,000 convertible debenture financing (the “Financing”). The Note will be convertible for a period of 5 years into common shares of the Company’s capital stock at a price of $0.05 per share. The Note will bear interest at a rate of 8 percent per annum and will be repayable in 4 equal semi-annual instalments starting 42 months after its issuance until maturity. The Note will be transferable or saleable by the Chairman or other holder thereof, in whole or in part, at any time without notice to the Company.
The Company and the Chairman will now negotiate a definitive agreement to implement the Note with the customary terms, conditions and representations of a commercial lending agreement based on the terms indicated in this Form 8K. The closing of the issue and sale of the Note will not occur until such time that is 30 days subsequent to the confirmation of the Company’s first commercial sale of its diabetes management software program
June 28, 2018, ALR Technologies Inc. issued a press release announcing that it will be offering a new product called the Integrated ALRT Diabetes Solution (the “Integrated Solution”) which bundles blood glucose test supplies, the ALR Technologies Inc. Diabetes Management Solution and patient management by Certified Diabetes Educators in regional Centers of Excellence for Diabetes Care.
8/13/18 – Filed 10Q for 2nd quarter 2018 period ending 6/30/18 (on time)
August 27, 2018, ALR Technologies Inc. (“ALRT”) issued a press release announcing that it had entered into a Memorandum of Understanding with Aspire Cerebro Advertising Ltd. to co-market the ALRT Diabetes Solution in India.
9/19/17 – ALR Technologies receives FDA clearance for its insulin dose adjustment feature of the ALR Technologies Inc. Diabetes Managements System (also referred to as the “ALR Health-e-Connect System”).
September 25, 2017, the Company issued a press release announcing 1) that is has added international reference dosing to insulin dose adjustment 2) has contacted the SEC to seek guidance to remedy its reporting deficiencies and 3) it has authorized a private placement up to $5 million for the issuance of convertible debentures that are convertible at $0.05 per share.
October 16, 2017, the Company issued a press release announcing 1) that is releasing details of its ALR Technologies Diabetes Management System including links to videos describing the features and 2) that the Company has provided the Securities Exchange Commission with a letter of intention to correct its reporting deficiencies by January 26, 2018.
The fun is beginning
12/8/17 – 10 K filed for fiscal year end 2015
12/22/17 – 10Q filed for 1st quarter of 2016 period ending 3/31/16
12/29/17 – 10 Q filed for 2nd quarter of 2016 period ending 6/30/2016
12/29/17 – 10Q filed for 3rd quarter of 2016 period ending 9/30/2016
October 18, 2017, ALR Technologies Inc. (the “Company”) issued a Form 8K noting that the Company provided the Securities Exchange Commission (SEC) with a letter of intention to correct its reporting deficiencies by January 26, 2018. To date the Company has filed its 2015 10K, its three 2016 10Qs and is currently undergoing its year-ended December 31, 2016 financial statement audit. To remedy its reporting deficiencies, the Company must file its 2016 10K and 2017 10Qs, which requires an extension from its original timeline. The Company has issued the SEC with an updated letter of intention to extend the period to correct its reporting deficiencies on or before February 28, 2018. The Company expects to file its 2016 10K on or before February 2, 2018.
2/2/18 – Filed 10K for fiscal year end 2016
2/23/18 _ Filed 10Q for 1st quarter of 2017 period ending 3/31/2017
2/26/18 – Filed 10Q for 2nd quarter of 2017 period ending 6/30/17
2/26/18 – Filed 10Q for 3rd quarter of 2017 period ending 9/30/17
AS OF THIS DATE, ALRT WAS NOW CURRENT IN THEIR FILINGS.
Did you catch that? In a matter of 2.5 months, the company became current in their filings after an almost 2 year delinquent period. But they aren’t done.
3/30/18 – Filed 10K for fiscal year end 2017
On January 27, 2017, the Company’s Board of Directors approved a 100-for-1 reverse stock split (the” Reverse Stock Split”) of the Company’s common stock. The Company did not obtain approval for the Reverse Stock Split from the FINRA as the Company was delinquent with its reporting requirements with the SEC. As a result, the reverse stock split could not be effected on the OTC Markets trading platform and the Company did not have its transfer agent exchange any share certificates for the reverse stock split. On February 22, 2018, the Board of Directors of ALR Technologies Inc. approved a resolution to revoke the Reverse Stock Split in order to ensure to the capital structure of its common stock matched the trading shares on the OTC Markets trading platform.
5/15/18 – Filed 10Q for 2018 period ending 3/30/18 (on time)
May 14, 2018, the Company issued a press release announcing the advancement of its ALRT Diabetes Solution product and its plans for marketing and selling the product.
6/13/18 - The board of directors (the “Board”) of ALR Technologies Inc. (the “Company”) have elected to migrate or re-domicile the Company from the United States of America to Canada (the “Migration”). Accordingly, the Board has instructed Management to work with legal counsel to present a suitable Migration plan for the Company that is in compliance with all applicable regulatory authorities.
September 25, 2017 the Company announced that it had authorized a private placement up to $5 million for the issuance of convertible debentures that are convertible into shares of common stock at a price of $0.05 per share (the “Note”).
June 13, 2018 the Chairman and Chief Executive Officer (the “Chairman”) of the Company accepted a proposal from the board of directors of the Company to purchase the $5,000,000 convertible debenture financing (the “Financing”). The Note will be convertible for a period of 5 years into common shares of the Company’s capital stock at a price of $0.05 per share. The Note will bear interest at a rate of 8 percent per annum and will be repayable in 4 equal semi-annual instalments starting 42 months after its issuance until maturity. The Note will be transferable or saleable by the Chairman or other holder thereof, in whole or in part, at any time without notice to the Company.
The Company and the Chairman will now negotiate a definitive agreement to implement the Note with the customary terms, conditions and representations of a commercial lending agreement based on the terms indicated in this Form 8K. The closing of the issue and sale of the Note will not occur until such time that is 30 days subsequent to the confirmation of the Company’s first commercial sale of its diabetes management software program
June 28, 2018, ALR Technologies Inc. issued a press release announcing that it will be offering a new product called the Integrated ALRT Diabetes Solution (the “Integrated Solution”) which bundles blood glucose test supplies, the ALR Technologies Inc. Diabetes Management Solution and patient management by Certified Diabetes Educators in regional Centers of Excellence for Diabetes Care.
8/13/18 – Filed 10Q for 2nd quarter 2018 period ending 6/30/18 (on time)
August 27, 2018, ALR Technologies Inc. (“ALRT”) issued a press release announcing that it had entered into a Memorandum of Understanding with Aspire Cerebro Advertising Ltd. to co-market the ALRT Diabetes Solution in India.
