Solid new info in Shareholders upate Release #:812-238943-rl-1238418:
August 15, 2022 , (thanks to The Pro on another board)
"we recently signed an agreement with a Southeast Asian firm to distribute RecoveryRx in 25 additional countries. The agreement requires successful registration of the product in 7 countries before the first purchase order will be issued. Our regulatory team is working diligently with their team to complete this task as swiftly has possible."
25 new countries in Asia with a company large enough to service 25 countries speaks for itself
"We finalized the design for our extra strength RecoveryRx device and will be submitting a pre-submission letter to the US FDA within the next 30 days."
I have been waiting on this one for years, important new product for faster Pain Relief for Post-Op patients, after a period of prescription use with good pain relief and safety hoping to see this get OTC also
"Earlier in the year, we stabilized our supply chain by pro-actively ordering a year’s supply of the essential ASIC chips."
This sounds like normal procurement on the surface but with the numerous indusrties that have had to scale back production due to Chip shortages nailing down a year's worth of critical raw materials is a big deal
"we had no dilution during the 2nd quarter and related parties infused an additional $40,000 in cash investments into the Company."
Given that BIEL has funded the company with dilution for 20 years it is encouraging to see a quarter with no dilution
Release #:812-238943-rl-1238418:
August 15, 2022
Dear Shareholders,
This last quarter has presented numerous challenges including shipping logistics and continued restrictions on the number of elective surgeries, both of which affected the quarter’s financials, but fortunately have eased over the last few months. We have also recently noticed positive changes in the global conditions allowing for more international distributor discussions with companies having revenues in excess of $300m.
As a result, we recently signed an agreement with a Southeast Asian firm to distribute RecoveryRx in 25 additional countries. The agreement requires successful registration of the product in 7 countries before the first purchase order will be issued. Our regulatory team is working diligently with their team to complete this task as swiftly has possible. Details regarding this contract will be shared when we have received the initial order.
In multiple meaningful ways, we made significant progress this quarter on our strategies to bring value to our customers and shareholders. We completed a randomized control study in the UK on canine arthritis which had extremely good results and we are planning a relaunch of the veterinary product line in 2023.
The UC San Diego sponsored study for phantom limb pain is enrolling patients and progressing as expected. More information about the study can be viewed here: https://clinicaltrials.ucsd.edu/trial/NCT05392803 The initial case reports can be viewed here: https://amjcaserep.com/abstract/index/idArt/937549
We finalized the design for our extra strength RecoveryRx device and will be submitting a pre-submission letter to the US FDA within the next 30 days.
Earlier in the year, we stabilized our supply chain by pro-actively ordering a year’s supply of the essential ASIC chips.
Finally, we had no dilution during the 2nd quarter and related parties infused an additional $40,000 in cash investments into the Company.
We have scheduled a stockholder’s call on August 25th and will answer questions in more detail at that time. In the meantime, we thank you for your continued support.
Kelly Whelan, CEO
Keith Nalepka, VP of Sales
Richard Staelin, Ph.D., Chairman of the Board
August 15, 2022 , (thanks to The Pro on another board)
"we recently signed an agreement with a Southeast Asian firm to distribute RecoveryRx in 25 additional countries. The agreement requires successful registration of the product in 7 countries before the first purchase order will be issued. Our regulatory team is working diligently with their team to complete this task as swiftly has possible."
25 new countries in Asia with a company large enough to service 25 countries speaks for itself
"We finalized the design for our extra strength RecoveryRx device and will be submitting a pre-submission letter to the US FDA within the next 30 days."
I have been waiting on this one for years, important new product for faster Pain Relief for Post-Op patients, after a period of prescription use with good pain relief and safety hoping to see this get OTC also
"Earlier in the year, we stabilized our supply chain by pro-actively ordering a year’s supply of the essential ASIC chips."
This sounds like normal procurement on the surface but with the numerous indusrties that have had to scale back production due to Chip shortages nailing down a year's worth of critical raw materials is a big deal
"we had no dilution during the 2nd quarter and related parties infused an additional $40,000 in cash investments into the Company."
Given that BIEL has funded the company with dilution for 20 years it is encouraging to see a quarter with no dilution
Release #:812-238943-rl-1238418:
August 15, 2022
Dear Shareholders,
This last quarter has presented numerous challenges including shipping logistics and continued restrictions on the number of elective surgeries, both of which affected the quarter’s financials, but fortunately have eased over the last few months. We have also recently noticed positive changes in the global conditions allowing for more international distributor discussions with companies having revenues in excess of $300m.
As a result, we recently signed an agreement with a Southeast Asian firm to distribute RecoveryRx in 25 additional countries. The agreement requires successful registration of the product in 7 countries before the first purchase order will be issued. Our regulatory team is working diligently with their team to complete this task as swiftly has possible. Details regarding this contract will be shared when we have received the initial order.
In multiple meaningful ways, we made significant progress this quarter on our strategies to bring value to our customers and shareholders. We completed a randomized control study in the UK on canine arthritis which had extremely good results and we are planning a relaunch of the veterinary product line in 2023.
The UC San Diego sponsored study for phantom limb pain is enrolling patients and progressing as expected. More information about the study can be viewed here: https://clinicaltrials.ucsd.edu/trial/NCT05392803 The initial case reports can be viewed here: https://amjcaserep.com/abstract/index/idArt/937549
We finalized the design for our extra strength RecoveryRx device and will be submitting a pre-submission letter to the US FDA within the next 30 days.
Earlier in the year, we stabilized our supply chain by pro-actively ordering a year’s supply of the essential ASIC chips.
Finally, we had no dilution during the 2nd quarter and related parties infused an additional $40,000 in cash investments into the Company.
We have scheduled a stockholder’s call on August 25th and will answer questions in more detail at that time. In the meantime, we thank you for your continued support.
Kelly Whelan, CEO
Keith Nalepka, VP of Sales
Richard Staelin, Ph.D., Chairman of the Board
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