Archive for July, 2020
The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused waters and CBD-infused products, today announced that it will present at the SNN Network Virtual Investor Conference at 12:30 p.m. Eastern Time on Wednesday, August 5, 2020. According to the update, the company’s president and CEO, Ricky Wright, will host the presentation and answer questions from investors. Interested parties may register for the virtual event by visiting http://cnw.fm/gueqi.
To view the full press release, visit http://cnw.fm/TElhH
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88(R) delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label “Clean Beverage.” Quickly being recognized as a growing lifestyle brand, Alkaline88(R) launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused(TM) flavored water is available in seven unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products includes both the company’s lab-tested full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules, and gummies. To purchase A88CBD(TM) products online, visit www.A88CBD.com. To learn more about The Alkaline Water Company, visit www.TheAlkalineWaterCo.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://cnw.fm/WTER
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CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
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SRAX (NASDAQ: SRAX), a provider of digital-marketing and consumer data-management technology solutions, provides next-gen tools for consumers and brands to communicate and monetize data – a commodity considered “big” by today’s standards. SRAX’s commercial prospects look especially promising with its positioning in the rapidly growing “Big Data” sector, set to hit $229.4 billion in 2025 (http://nnw.fm/Y7DQV). A recent article discussing SRAX’s innovative offerings reads, “SRAX’s BIGtoken platform has sought to capitalize on the growing demand for big data analytics through its broad user base as well as its extensive range of functionalities. Towards the end of 2019, the platform introduced the BIGtoken Lightning Insights functionality – a revolutionary tool which allows SRAX’s customers to instantly activate research and surveys about virtually any topic and pose it to BIGtoken’s extensive user base. Companies can choose to address their queries to BIGtoken’s extremely wide and diverse user base or opt to target extremely niche demographic and socio-economic sectors through the product’s over 25,000 points of segmentation and receive actionable audience insights within a matter of mere hours (http://nnw.fm/uHjwh).”
To view the full article, visit: http://nnw.fm/htOd8
About SRAX
SRAX is a digital-marketing and consumer data-management technology company. SRAX’s technology unlocks data for brands in the CPG, investor relations, luxury and lifestyle verticals. Through its various platforms, SRAX is monetizing its data sets and growing multiple recurring revenue streams. BIGtoken is a consumer-managed data marketplace where people can own and earn from their data. The platform also provides advertisers and media companies access to transparent, verified consumer data to better reach and serve audiences. Sequire is a premier platform for investor intelligence and communication. Through Sequire, public companies can track their investors’ behaviors and trends, and use those insights to engage current and potential investors across marketing channels. For more information on SRAX and its verticals, visit www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://nnw.fm/SRAX
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NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Genprex (NASDAQ: GNPX), a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes, on Thursday announced participation by its chairman and CEO, Rodney Varner, in a second-round live interview on the “Big Biz Show,” an emmy-award winning nationally syndicated TV and radio show. A replay of the interview is available for viewing on the company’s website. In addition, Genprex today announced that it will present at the Proactive Investors One2One Virtual Event at 1:40 p.m. ET on August 4, 2020. Varner will deliver a company overview, provide updates on its product pipeline, including its lead drug candidate, GPX-001, and discuss the company’s preclinical diabetes gene therapy candidate that may have the potential to cure type 1 and type 2 diabetes. Interested parties may register for the event at http://ibn.fm/XsTbH.
To view the full press release, visit http://ibn.fm/hVHDT and http://ibn.fm/ltdRI
About Genprex, Inc.
Genprex is a clinical-stage gene therapy company developing potentially life-changing technologies for patients with cancer and diabetes. Genprex’s technologies are designed to administer disease-fighting genes to provide new treatment options for large patient populations with cancer and diabetes who currently have limited treatment options. Genprex works with world-class institutions and collaborators to in-license and develop drug candidates to further its pipeline of gene therapies in order to provide novel treatment approaches. The company’s lead product candidate, “GPX-001” (“quaratusugene ozeplasmid”), is being evaluated as a treatment for non-small cell lung cancer (“NSCLC”). GPX-001 has a multimodal mechanism of action that has been shown to interrupt cell signaling pathways that cause replication and proliferation of cancer cells; re-establish pathways for apoptosis, or programmed cell death, in cancer cells; and modulate the immune response against cancer cells. GPX-001 has also been shown to block mechanisms that create drug resistance. In January 2020, the U.S. Food and Drug Administration granted Fast Track Designation for GPX-001 for NSCLC in combination therapy with osimertinib (AstraZeneca’s “Tagrisso(R)”) for patients with “EFGR” mutations whose tumors progressed after treatment with osimertinib alone. For more information, please visit the company’s website at www.Genprex.com
NOTE TO INVESTORS: The latest news and updates relating to GNPX are available in the company’s newsroom at http://ibn.fm/GNPX
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BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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Wrap Technologies (NASDAQ: WRTC), an innovator of modern policing solutions, on Thursday announced its appointment of Marc Thomas as its chief executive officer, as well as the company’s results for the second quarter ended June 30, 2020. Thomas will succeed David Norris, who has served as the CEO of Wrap Technologies since December 2018 will retain his position as a director following the transition. “During the second quarter of 2020, our team adapted to an unconventional operating environment, successfully increasing awareness of the BolaWrap, driving sales, and positioning Wrap for accelerated growth,” David Norris, director of Wrap Technologies and former chief executive officer, stated in the news release. “Financially, the quarter was highlighted by a substantial increase in our cash position to $35.4 million as we successfully closed a $12.4 million financing arrangement with a group of our existing investors and received an additional $9.2 million during Q2 from the exercise of warrants. Thanks to our team’s flexibility, we also achieved record revenues of $833,000, and we exited the quarter with a $1.5 million backlog, which indicates that our sales channel remained robust despite the complications caused by the coronavirus pandemic. Subsequent to the quarter’s end, we also strengthened our leadership team with the appointment of Marc Thomas as our CEO, whose expertise will be integral to the next phase of Wrap’s evolution.”
To view the full press release, visit http://nnw.fm/QSfkq and http://nnw.fm/TlZlG
About Wrap Technologies, Inc.
Wrap Technologies is an innovator of modern policing solutions. The company’s BolaWrap 100 product is a patented, hand-held remote restraint device that discharges an eight-foot bola style Kevlar(R) tether to restrain an individual at a range of 10-25 feet. Developed by award winning inventor Elwood Norris, the company’s chief technology officer, the small but powerful BolaWrap 100 assists law enforcement to safely and effectively control encounters, especially those involving an individual experiencing a mental crisis. For information on the company, please visit www.WrapTechnologies.com. Examples of recent media coverage are available as links under the “Media” tab of the website.
NOTE TO INVESTORS: The latest news and updates relating to WRTC are available in the company’s newsroom at http://nnw.fm/WRTC
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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DarioHealth (NASDAQ: DRIO), a pioneer in the global digital therapeutics market, has completed a private placement transaction resulting in aggregate gross proceeds of an estimated $28.6 million. After deducting placement agent fees and other offering expenses, capital from the transaction, along with existing balance sheet cash, will be used to fund DRIO’s long-term strategic operating plan. “We are pleased to have the confidence of our largest shareholder and several new highly regarded healthcare investors as we expand our commercial to manage existing and anticipated near-term agreements with health care payers,” said Dario CEO Erez Raphael, chief executive officer of Dario. “The adoption rate of digital therapeutics has been accelerated by the current pandemic. Dario’s efficacious, value-oriented solution is well-positioned to compete in this largely untapped U.S. market.”
To view the full press release, visit http://ibn.fm/utz7J
About DarioHealth Corp.
DarioHealth is a leading, global, digital-therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, the company empowers individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. The company’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario offers one of the highest-rated diabetes solutions in the market, and its user-centric MyDario(TM) mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new geographic markets to address chronic conditions using a performance-based approach to improve the health of users managing chronic disease. For more information, visit the company’s website at www.DarioHealth.com
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
About BioMedWire
BioMedWire (BMW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) BioMedNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. BMW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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David Norris to Remain on the Board of Directors Subsequent to CEO Transition
TEMPE, AZ / July 30, 2020 / Wrap Technologies, Inc. (the “Company” or “Wrap”) (NASDAQ:WRTC), an innovator of modern policing solutions, today announced that its Board of Directors has appointed Marc Thomas as its new Chief Executive Officer, effective today. Thomas will succeed David Norris, who has served as the Company’s Chief Executive Officer since December 2018, and who will retain his position as a director following the transition.
“On behalf of the Board of Directors, I would like to thank David for the many contributions he has made since becoming CEO,” said Scot Cohen, Executive Chairman of Wrap Technologies. “Under David’s leadership, Wrap has grown from a nascent business concept into a company with an established brand, a proven product, and a robust and growing, global customer base.”
“It’s been a great privilege to lead Wrap through its startup phase, and I’m very proud of the work the entire team has accomplished to bring the idea of a new remote restraint device to life,” said David Norris, Director of Wrap Technologies. “With worldwide sales accelerating, the board of directors, the rest of the management team, and I came to the conclusion that it was an appropriate time in the company’s history to bring on a leader with a deep operational background to support the Company’s growth. As a fellow shareholder and staunch believer in the importance of Wrap’s mission, I’m very encouraged that we’ve found such a capable leader in Marc, whose background and track record speak for themselves when it comes to experience in related fields and successfully scaling businesses.”
“I’d also like to personally welcome Marc aboard,” Cohen continued. “Marc has a long history of successfully leading and growing organizations, and we’re confident that the expertise he has developed across a broad array of industries will be of great benefit to Wrap. We’re very excited to have him as part of the team.”
Marc Thomas is an experienced executive with a diverse background who has successfully led and advised teams in a variety of industries including financial markets, aerospace engineering and manufacturing, management consulting, government, and the armed services.
Incoming Chief Executive Officer Marc Thomas commented, “With the momentum Wrap has been building over the past year, it’s an incredibly exciting time to be joining the team. Wrap is working to close a critical gap that exists in policing, and by doing so, it will benefit not just law enforcement officers, but all of us. Today, the BolaWrap is more prominent than ever before, and more and more agencies are beginning to view it as a ‘must have’ rather than a ‘nice to have.’ I’m looking forward to leveraging my past experience to help effectively scale the business and accelerate the Company’s growth over the coming quarters and years.”
Thomas joins Wrap from Thorium Capital Ventures and Consulting where, during his 14 year tenure as president and CEO, he was responsible for private equity deal sourcing, valuing, acquiring, and operating small to medium sized manufacturing and services companies, as well as serving as an interim president, CEO, and board member of several portfolio manufacturing and asset management companies. While serving as a Chief Operating Officer in a private equity portfolio company, Marc worked “shoulder-to-shoulder” with various direct reports and staffers to develop SOPs / SOWs / and key metrics to design and implement a growth strategy resulting in annual increases of 27% and 189% in sales revenues and operating profit, respectively.
From 2001 to 2006, he held multiple leadership positions at General Electric Company including manager of the Corporate Initiatives Group, general manager of Rail, and chairman, president, and CEO of Aviation Materials. At GE Aviation Materials, Marc designed and successfully implemented a turnaround strategy that rapidly grew the business from $151 million to $246 million in sales revenue, and $9 million to $31 million in operating profit.
During his career, Thomas has also served as an engagement manager at McKinsey & Company, a legislative assistant to the Office of Senator Dirk Kempthorne, a special advisor to the Office of the Vice President at the White House, an adjunct associate professor to the School of Engineering & Applied Sciences at Columbia University, and an assistant professor to the Department of Systems Engineering at the United States Military Academy.
Prior to his work in the private sector, Thomas served as a Detachment Commander and Civil-Military & Psychological Operations Officer in the 5th Special Forces Group in the United States Army. He holds a JD in corporate and intellectual property law from the University of Texas School of Law in Austin, an MBA in international finance and management as well as an MS in industrial engineering and operations research from Columbia University, and a BS in civil and environment engineering from Stanford University.
About Wrap Technologies (NASDAQ:WRTC)
Wrap Technologies is an innovator of modern policing solutions. The Company’s BolaWrap 100 product is a patented, hand-held remote restraint device that discharges an eight-foot bola style Kevlar® tether to restrain an individual at a range of 10-25 feet. Developed by award winning inventor Elwood Norris, the Company’s Chief Technology Officer, the small but powerful BolaWrap 100 assists law enforcement to safely and effectively control encounters, especially those involving an individual experiencing a mental crisis. For information on the Company please visit www.wraptechnologies.com. Examples of recent media coverage are available as links under the “Media” tab of the website.
Trademark Information: BolaWrap and Wrap are trademarks of Wrap Technologies, Inc. All other trade names used herein are either trademarks or registered trademarks of the respective holders.
Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding the Company’s overall business, total addressable market and expectations regarding future sales and expenses. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company’s ability to successful implement training programs for the use of its products; the Company’s ability to manufacture and produce product for its customers; the Company’s ability to develop sales for its new product solution; the acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the ability to obtain export licenses for counties outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors included in the Company’s most recent annual report on Form 10-K, quarterly report on Form 10-Q and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
WRAP TECHNOLOGIES CONTACT:
Paul M. Manley
VP – Investor Relations
612-834-1804
pmanley@wraptechnologies.com
The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER) announced that its entire A88CBD(TM) product line, including topical and ingestible consumer offerings, will be available in 17 of CBD Emporium’s retail stores. WTER produces premium bottled alkaline water, flavor-infused waters, and CBD-infused products sold under the brand names Alkaline88(R), A88 Infused(TM) and A88CBD, respectively. “We’re excited about A88CBD’s partnership with CBD Emporium, which represents the largest order to date for our in-demand A88CBD products,” said WTER president and CEO Richard Wright. “Our online presence has been increasing, and we’re equally thrilled to be expanding our national presence with brick-and-mortar retailers like CBD Emporium. Emporium is a fast-growing retail chain with storefronts across the U.S. Given their ambitious expansion plans, we look forward to serving their growing customer base.”
To view the full press release, visit http://cnw.fm/aWdh1
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88(R) delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label “Clean Beverage.” Quickly being recognized as a growing lifestyle brand, Alkaline88(R) launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused(TM) flavored water is available in seven unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products includes both the company’s lab-tested full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules, and gummies. To purchase A88CBD(TM) products online, visit www.A88CBD.com. To learn more about The Alkaline Water Company, visit www.TheAlkalineWaterCo.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://cnw.fm/WTER
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CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.
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Predictive Oncology (NASDAQ: POAI) has completed a strategic move to accelerate commercialization of its proprietary artificial intelligence “AI”-driven drug discovery and development. A recent article discussing Predictive Oncology’s recent acquisition of Quantitative Medicine (“QM”), a biomedical analytics and computational biology company, quotes POAI CEO Dr. Carl Schwartz, where he states, “This acquisition will enable us to further leverage our unique database of drug-response and genomics profiles that our subsidiary, Helomics, has gathered from more than 150,000 cancer cases over more than 10 years of clinical testing. Integrating QM’s proven machine-learning platform, CoRE, with our proprietary database of drug response and genomics profiles is expected to revolutionize the role of our AI-driven predictive models in the discovery and development of new anti-cancers.”
To view the full article, visit: http://ibn.fm/5VAH1
About Predictive Oncology Inc.
Predictive Oncology operates through three segments (domestic, international and other), which contain four subsidiaries; Helomics, TumorGenesis, Skyline Medical and Skyline Europe. Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. Helomics’ CLIA-certified lab provides clinical testing that assists oncologists in individualizing patient treatment decisions, by providing an evidence-based road map for therapy. In addition to its proprietary precision oncology platform, Helomics offers boutique CRO services that leverage its TruTumor(TM), patient-derived tumor models coupled to a wide range of multi-omics assays (genomics, proteomics and biochemical), and an AI-powered proprietary bioinformatics platform to provide a tailored solution to its clients’ specific needs. Predictive Oncology’s Skyline Medical division markets its patented and FDA-cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. The company has achieved sales in five of the seven continents through both direct sales and distributor partners. For more information, please visit www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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- Electric vehicles expected to account for over half of global passenger car sales by 2040
- Growth in electric vehicles expected to drive oil demand down by 13.7 million barrels per day
- Proposed manufacturing facility comprises 1.3 million square feet, creation of 55 jobs at startup with up to 863 jobs created by 2026
Net Element (NASDAQ: NETE), a global technology group that operates electronic payment services, is currently in the planning stages to open a new electric vehicle (“EV”) manufacturing facility in conjunction with privately-owned Mullen Technologies (“Mullen”) via a proposed merger. With demand for electric vehicles growing globally, oil demand is expected to plummet by 13.7 million barrels a day, according to recent research by Bloomberg (http://ibn.fm/LBVZx), positioning the new company favorably as a leader in the electric vehicle industry both in the U.S. and abroad.
According to the report, electric vehicles are expected to account for over half of global passenger car sales by 2040, in addition to completely dominating the bus market. Besides the growing passenger market, electric vehicles are also projected to make headway into other areas, comprising over half of light commercial vehicle sales, 31% of the medium commercial market, and almost a fifth of the heavy truck market.
The electric vehicle industry has made substantial headway in recent years, catalyzed by the falling prices of EV batteries in addition to policy support through fuel economy regulations and China’s new energy vehicle mandate. Showcasing its market dominance, China is expected to account for almost half (48%) of all passenger car sales in 2025.
Pending definitive agreement, fairness valuation, and stockholder and board approval, the reverse merger between NETE and Mullen will allow Mullen to take control of NETE and bypass the lengthy process of going public. Anticipated to occur in the third quarter, the merger is expected to give Mullen stakeholders a majority of the stock in the newly formed public company.
“We believe the timing of this merger is ideal for Mullen Technologies,” said Mullen CEO David Michery (http://ibn.fm/eMbwh). “It comes on the preparation of our launch of the Dragonfly K50, which will be available in (the second quarter) of 2021 and through our retail network in California and Arizona.”
Pending requisite approvals, the new company has plans to open an electric sports car manufacturing facility in West Plains, Missouri. The proposed 1.3 million square feet of assembly and manufacturing space is expected to create 55 jobs at startup with up to 863 jobs created by 2026. An additional 3,000 jobs are projected to be created for the research and development of lithium-ion batteries through Mullen’s subsidiary company, Mullen Energy.
Besides Mullen Energy, the company has several other subsidiaries that include a series of pre-owned auto dealerships in California and Arizona that operate under the Mullen Auto Sales banner, a digital auto marketplace called CarHub, and a financing company called Mullen Finance Corp. that offers vehicle leases and loans. Unrelated to the automotive business is another Mullen subsidiary called Smart 8 Energy that sources ventilators, COVID-19 antibody test kits, virus test kits and personal protective equipment.
Ranked on Deloitte’s Technology Fast 500(TM) list of North America’s 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in both 2017 and 2018, NETE credits its progression to organic growth in its North America Transactions Segment. Crediting most of its success to its Unified Payments brand, NETE focuses on value-added payment acceptance solutions for small to medium enterprises in the United States.
For more information, visit the company’s website at www.NetElement.com.
NOTE TO INVESTORS: The latest news and updates relating to NETE are available in the company’s newsroom at http://ibn.fm/NETE
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
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Jerrick Media Holdings (OTCQB: JMDA), a technology company and the parent company of Vocal, today announced that Mark Standish formally assumed the duties and responsibilities of chairman of Jerrick’s Board of Directors, by its unanimous vote, at a recent meeting held following the Company’s 2020 Annual Meeting of Shareholders. Mark Patterson and Laurie Weisberg also officially began their tenure as independent board directors. With these three new appointments now in effect, Jerrick has already begun benefiting from the board’s network, collective experience and proven capacity to propel its revenue growth and align resources to successfully execute its strategic vision. “In addition to being my longtime mentor and friend, Mark Standish brings deep expertise in financial services, strategic growth, and organizational development acquired over the course of an impressive career,” Jerrick CEO Jeremy Frommer said in the news release. “Mark’s leadership only further bolsters our momentum as we head into August, the month we expect to uplist.”
To view the full press release, visit http://nnw.fm/lO32D
About Jerrick Media Holdings, Inc.
Jerrick is the parent company and creator of the Vocal platform. The company creates technology-based solutions to solve problems for the creative community. Through Vocal, Jerrick identifies and leverages opportunities within the digital platform and content monetization space. Since launching in 2016, Vocal has become home to over 650,000 content creators and brands of all shapes and sizes, attracting audiences across its network of wholly owned and operated communities. For more information, visit the company’s website at www.jerrick.media.
NOTE TO INVESTORS: The latest news and updates relating to JMDA are available in the company’s newsroom at http://nnw.fm/JMDA
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iClick Interactive Asia Group (NASDAQ: ICLK) recently presented a keynote speech on data-driven marketing in China at the Product Marketing Alliance’s Product Marketing Festival in APAC. Held from July 29 to July 30, 2020, the event is the world’s first and only online festival dedicated to product marketing in the Asia Pacific region. “While there is tremendous potential in the Chinese digital advertising market for international brands to build market share, long-term success requires a customized strategy specifically adapted to China’s complex market and cultural landscape,” Frankie Ho, president of International Business at iClick, stated in the news release. “iClick is focused on helping brands gain a better and deeper understanding of China’s market and creating the best marketing strategies backed by real-time data and advanced algorithms.”
To view the full press release, visit http://nnw.fm/7NTnP
About iClick Interactive Asia Group Limited
iClick Interactive Asia Group is an independent online marketing and enterprise data solutions provider that connects worldwide marketers with audiences in China. Built on cutting-edge technologies, iClick’s proprietary platform possesses omni-channel marketing capabilities and fulfils various marketing objectives in a data-driven and automated manner, helping both international and domestic marketers reach their target audiences in China. Headquartered in Hong Kong, iClick was established in 2009 and is currently operating in ten locations worldwide, including Asia and Europe.
For more information, please visit ir.i-Click.com.
NOTE TO INVESTORS: The latest news and updates relating to ICLK are available in the company’s newsroom at http://nnw.fm/ICLK
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Is the quality of research being compromised during the COVID-19 crisis? It is a question that should be asked by those who are involved in research expeditions. Research studies are crucial in coming up with discoveries; hence a lot of work ethics is always regarded. However, some loopholes may erupt, leading to some questions regarding the quality of research.
Scrutinizing research exceptionalism
The COVID-19 pandemic has continued to erode the norms of scientific research. As nations observe the ongoing efforts to understand and defeat theSARS-Cov2-Virus, clinical and laboratory studies have been conducted at supersonic speeds. Data has been generated in volumes that are somehow hard to comprehend.
However, these are extraordinary days, but it is not an avenue for compromising scientific standards. When it comes to the accuracy of the science, emergencies always demand exceptions to high standards in quality. Does research exceptionalism only occur on the verge of a pandemic? It should be a question of concern to the research fraternity. Some scientists seem to think that research exceptionalism is universal regardless of any circumstance. The difference is that many funders, researchers, and policymakers believe that you can exempt those shortcomings from the normal standards.
Factors contributing to research exceptionalism
These three problematic theories always underpin research exceptionalism:
- Some evidence, even when flawed, is preferable than suggestions of expending greater resources on demanding studies whose benefits are seen later.
- The opinion that the main features of uncompromising research, such as placebo comparators or randomization differ with clinician’s care obligations
- The possibility that sponsors and researchers are generally free to exercise broad responsibility for the form and design of research.
To clarify on the first point, a researcher argued that a little bit of information is dangerous. Researchers also emphasized that if people perceive, based on poorly conducted studies, that treatment is effective for Covid-19, they may be shy to come forward for placebo trials that may rigorously evaluate that effectiveness. It is a big issue since it can slow down the process of determining if a treatment is efficient.
Researchers further add that a lot of treatment is effective in small preliminary reports. However, when subjected to rigorous testing, they turn out to be unsafe and ineffective. For research to be informative and maintain the social value that research should uphold, it needs to fulfill the following responsibilities:
- Analytical design
- Its importance
- Feasibility
- Analytical integrity
- Complete reporting of the trial promptly and consistently with pre-specified analyses
Clinical trials
Developing, testing, and manufacturing a therapeutic or preventive agent is always lengthy at normal times. However, it is also essential to follow the required process, even amid a pandemic, without compromising health standards. Health agencies should, therefore, prioritize research approaches that are testing multiple interventions.
However, the recent innovations have eased clinical trials where five treatments can be tested in one clinical trial. These will not only economize on time but also will bring out better clinical trials. Therefore, it should be noted that even in a crisis, the research process must not be compromised. Furthermore, a big lesson that should be learned is that rigorous research during the COVID-19 pandemic is feasible.
It would be enlightening to hear what established players in the biomedical field like Genprex Inc. (NASDAQ: GNPX) have to say regarding how to navigate the research pitfalls brought on by the ongoing pandemic.
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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- DarioHealth Corp. is a digital therapeutics innovator that supplies remote monitoring technology to caregivers and their patients
- The company’s Remote Patient Monitoring (“RPM”) technology reports patient data to care providers in the clinical setting and if necessary provides occasional “nudges” to patients to maintain their level of care
- DarioHealth began working in North America with two agreements announced in June, and in July began offering its solutions to the United Kingdom and Ireland thanks to a third agreement
- Such remote services have been increasingly in demand amid the ongoing global pandemic, regarded as a solution for minimizing the risk of exposure to viral infections and improving hospitals’ capacity to accept the most critical care needs
When the novel coronavirus began to create a surge of infections during the spring in the Northeastern states, some hospitals such as Mount Sinai in New York and Atrius Health in Boston turned to their “hospital at home” (“HaH”) programs to limit the risk of patient exposure to the virus and to keep hospital beds available for the most critically ill amid the growing health crisis (http://ibn.fm/aPjBk).
“We began thinking about how we could use hospital-at-home to meet the needs of our hospital system in our community. … Rather than focusing on specific diagnoses, our focus has been on specific services that we’re able to render at home — and whether those are the services that are keeping the patient in the hospital,” Mount Sinai’s HaH Director Al Siu stated in a Home Health Care News report (http://ibn.fm/aaO6O).
DarioHealth (NASDAQ: DRIO) is an innovator in the digital therapeutics field that supplies hospitals with the technology they need to ensure that their patients are receiving the necessary level of care even if they are being “roomed” at home under a remote monitoring regimen.
Healthcare providers have become familiar with an ever-evolving array of computerized equipment necessary to capture data from patients in a clinical or hospital setting, but HaH technology-based services are still developing as a field of care. Personal health digital therapeutics solutions that generate data remotely and make it available to care providers in the clinical setting offer the potential of providing early warnings of a medical concern that may arise between doctor visits, as well as potentially eliminating the need for costly hospital readmissions by allowing a condition to be dealt with before it reaches a critical phase.
DarioHealth’s Remote Patient Monitoring (“RPM”) digital therapeutics platform provides physicians with essential information and also delivers occasional “nudges” to patients when its automated programming recognizes a need (http://ibn.fm/5ndmX).
Devices that monitor chronic health conditions such as diabetes can function over multiple years, potentially reducing the frequency of medical visits and the demands on care providers’ time. Since such devices generally function automatically without requiring the patient to press any buttons or mess with device-pairing and data entry needs, the patient can generally function normally with a minimum of cumbersome behavior.
DarioHealth’s RPM platform combines the functions of the company’s existing resource with app technology for the service’s users and with the DarioEngage coaching platform that helps physicians and large provider groups ensure they are billing according to approved remote patient monitoring codes.
In June, the company announced it had signed its first two remote patient monitoring agreements in North America (http://ibn.fm/WoWBN), and on July 20 DarioHealth announced it is adding international service thanks to a strategic partnership with Williams Medical that makes the RPM platform available to healthcare professionals across the United Kingdom and Ireland (http://ibn.fm/ZeDHN).
For more information, visit the company’s website at www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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- As the spread of the novel coronavirus unexpectedly reached pandemic proportions, Trxade Group stepped in to help patients and providers continue to access resources and PPE products through a virtual environment that is safe from contagion
- If telemedicine services maintain popularity with patients and insurance providers continue to be responsive to reimbursing telehealth claims, market analysts project a seven-fold increase for the industry by 2025
Trxade Group (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, reported its financial results for the second quarter ended June 30, 2020. According to the report, revenues for the second quarter of 2020 increased 244% to a record $6.6 million, compared to revenue of $1.9 million in the same quarter last year. Second quarter revenue was up 199% when compared to revenues of $2.2 million in the first quarter of 2020.
The pharmaceutical services provider has garnered much attention in the first half of 2020. The company has been working to raise awareness of its supply chain trading platform that includes medical consultation and prescription drug solutions.
As the spread of the novel coronavirus unexpectedly reached pandemic proportions and triggered the need for infection-fighting policies, Trxade Group has developed measures to help patients and providers continue to access resources through a virtual environment that is safe from contagion. In addition, the company supplied multiple organizations with COVID-19 rapid test kits for employees and families, providing a diagnosis within 15 minutes at the point of care. Trxade Group experienced significant revenue increase in personal protective equipment (“PPE”) sales by the Company’s Integra Pharma segment in response to the COVID-19 pandemic.
During the COVID-19 crisis, telehealth services have rapidly expanded. Telehealth claims to private insurers have grown 4,347% year-over-year (http://nnw.fm/KdQP2). CVS Health saw 600% growth in telehealth and virtual visits through its MinuteClinics in the first quarter of 2020 (http://nnw.fm/iabaP), Blue Cross and Blue Shield of Tennessee saw 50 times more telehealth visits in May (http://nnw.fm/HoW3M) and Blue Cross of Idaho processed more than 90,500 telehealth claims between March and June, with telehealth now representing more than one-quarter of all claims (http://nnw.fm/z9xpo).
If telemedicine services maintain popularity with patients and insurance providers continue to be responsive to reimbursing telehealth claims, market analysts at McKinsey & Company forecast a $250 billion market (http://nnw.fm/zYUhR) while Frost & Sullivan projects a seven-fold increase by 2025 (http://nnw.fm/eEivE).
Other operational highlights of Trxade Group’s Q2 results included the company’s sustained efforts to expand its platform nationwide. Trxade recently added 325 new independent pharmacies to its platform, bringing the total registered pharmacy members to over 11,725.
The company also engaged international investor relations specialists MZ Group to expand its comprehensive strategic investor relations program across all key markets. Chairman and Chief Executive Officer Suren Ajjarapu stated: “As we move through the second half of 2020, we are better positioned than ever to execute upon our vision of continued growth of the platform, driven by new independent pharmacies, new suppliers and distributors.”
Headquartered in Tampa, Florida, Trxade Group, Inc. is an integrated drug procurement, delivery and healthcare platform that fosters price transparency, thereby improving profit margins for both buyers and sellers of pharmaceuticals. Trxade Group operates across all 50 states with the central mission of making healthcare services affordable and accessible.
Founded in 2010, Trxade Group operates via four synergistic platforms: (1) B2B trading platform with 11,725 registered pharmacies; (2) Integra Pharma Solutions, the company’s virtual wholesale division; (3) Bonum Health which offers affordable telehealth services; and (4) the DelivMeds app, a nationwide mail order delivery distribution network for independent pharmacies.
For more information, visit the company’s website at www.TrxadeGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://nnw.fm/MEDS
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER), a producer of premium bottled alkaline and flavored-infused waters and CBD-infused products, today announced that it will participating virtually in the ECRM Beverage Program on July 29 -30, 2020. “We have had tremendous success at the various ECRM programs that our teams participate in throughout the year,” Frank Chessman, executive director of National Sales for The Alkaline Water Company, stated in the news release. “This year the ECRM Beverage program is virtual, and our team is approaching the event with the same vigor. With a strong slate of meetings, we are engaging with targeted companies that have expressed a keen interest in our brands and can help drive category success year-round. ECRM’s unique format of Efficient Program Planning Sessions creates highly productive one-on-one meetings with pre-qualified, key decision makers across a variety of retailers representing drug stores, grocery chains, convenience stores, and big-box stores.”
To view the full press release, visit http://cnw.fm/dMJoP
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88(R) delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts its trademarked label “Clean Beverage.” Quickly being recognized as a growing lifestyle brand, Alkaline88(R) launched A88 Infused(TM) in 2019 to meet consumer demand for flavor-infused products. A88 Infused(TM) flavored water is available in seven unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the company launched A88 Infused Beverage Division Inc., which includes the company’s CBD water and flavor-infused water. For the company’s topical and ingestible offerings, A88 Infused Products includes both the company’s lab-tested full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp beverage shots, powder packs, oil tinctures, capsules, and gummies. To purchase A88CBD(TM) products online, visit www.A88CBD.com. To learn more about The Alkaline Water Company, visit www.TheAlkalineWaterCo.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://cnw.fm/WTER
About CBDWire
CBDWire (CBDW) is a specialized information provider focused on (1) reporting CBD-related news and updates, (2) releasing CBDNewsBreaks crafted to keep investors abreast of the latest and greatest in the CBD market, (3) refining and enhancing corporate press releases, (4) delivering end-to-end distribution and social media services to client-partners and (5) constructing effective corporate communication solutions based on the unique requirements of CBD companies. CBDW is exclusively positioned in the burgeoning CBD sector with a proven team of journalists and researchers working to deliver high quality content to an expansive target audience of investors, consumers and industry news outlets. Our dissemination network of over 5,000 downstream distribution points allows us to deliver unparalleled reach, visibility and recognition to companies operating in both cannabidiol and the wider cannabis space. CBDWire (CBDW) is where CBD news, content and information converge.
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Energy Fuels (NYSE American: UUUU) (TSX: EFR), the largest uranium producer in the United States and the leading producer of vanadium, finds itself in an ideal position as the company prepares to enter the rare earth elements (“REE”) sector. Earlier this year, Energy Fuels announced its entry into REEs — a space with growing interest that was highlighted in a recent “Forbes” article, which reads, “[REEs are] an awfully hot topic right now for two reasons. First, they’re increasingly in demand for critical modern technologies, ranging from computer hard drives and cell phones, to new-tech applications such as batteries for ‘EVs’ and clean power storage, to critical defense items such as jet engines and lasers. Second, supply is currently dominated by China (for mining alone, for example, China has 80% market share). China has cut off supplies to countries before, and just last year threatened to do so again, in retaliation against the trade war with America” (http://nnw.fm/Ei1e1).
To view the full article, visit: http://nnw.fm/4wsdY
About Energy Fuels Inc.
Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant. Its corporate offices are near Denver, Colorado, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the United States today, has a licensed capacity of over 8 million pounds of U3O8 per year and has the ability to produce vanadium when market conditions warrant. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels has one of the largest NI 43-101 compliant uranium resource portfolios in the United States, including several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol UUUU; the company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol EFR. For more information, visit the company’s website at www.EnergyFuels.com.
NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://nnw.fm/UUUU
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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July 29, 2020
Cybin Corp. appears set for opportunity as new data increasingly finds promise in psychedelic medicines. As big pharma has failed to bring groundbreaking drug innovations into the mental-health space, psilocybin — the main compound of pharmaceutical psychedelic products — stands out, having shown positive results for the treatment of anxiety, depression, addiction, and eating and other disorders. A recent article discussing the company’s positioning reads, “Cybin is potentially poised to be the first company to develop psilocybin-based medicine designed to target major depressive disorders. Currently involved in structuring a clinical study that will be conducted through an academic partner in the Caribbean, Cybin has already filled a patent application for a diverse set of delivery mechanisms, identified synthetic psilocybin active pharmaceutical ingredients (‘API’) sources and obtained a contract with a synthetic psilocybin oral film manufacturer.”
To view the full article, visit http://nnw.fm/fJMJ3
About Cybin Corp.
Cybin is a mushroom life-sciences company advancing psychedelic and nutraceutical-based products. The company expects to launch psilocybin-based products in jurisdictions where the substance is not prohibited. Simultaneously, the company is structuring and supporting clinical studies across North America and other regions through strategic academic and institutional partnerships. For more information, visit www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to Cybin are available in the company’s newsroom at http://nnw.fm/Cybin
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Palm Beach, FL – July 28, 2020 – Although the recent global health crisis has hampered the growth in the home security systems market, experts predict that stronger growth is on the horizon. A report from MarketsAndMarkets projects that, the global home security systems market size, which is valued at USD 53.6 billion in 2020, is expected to reach USD $78.9 billion by 2025, at a CAGR of 8.0% during the forecast period. The growth of the home security systems market is driven by factors such as growing awareness regarding home security systems, the emergence of the Internet of Things (IoT) and wireless technologies and increasing adoption of IP cameras for video surveillance amid COVID-19 crisis. The report said: “The pandemic COVID-19 has severely impacted the growth of the global home security systems market. Global sales are expected to decline by 5–10% in this fiscal year, depending upon the progression of the virus spread. The impact of COVID-19 on major markets such as the US and China has been significantly adverse, as supply chain disruption in China has resulted in a decline in the demand for home security systems. The decrease in the number of new construction projects and the closure of manufacturing facilities are some of the factors affecting the demand in China. The market in the US is expected to show stronger growth in comparison to other countries in the Americas region.” Active companies in the markets this week include: ATWEC Technologies, Inc. (OTCPK: ATWT), ADT Inc. (NYSE: ADT), Alarm.com Holdings, Inc. (NASDAQ: ALRM), Digital Ally, Inc. (NASDAQ: DGLY), Wrap Technologies, Inc. (NASDAQ: WRTC).
The article continued: “The introduction of security solutions based on data-driven machine learning and AI is the emerging trend in the home security systems market. The intelligent virtual assistants (IVA), such as Alexa and Google, have already been integrated by companies in different home security systems. The surveillance cameras today use AI and deep learning to empower security with more reliability and accuracy… The key benefits of this new technology include human body detection, facial recognition, people counting, and vehicle management. The AI-based deep learning and computer vision predict the occurrence of a crime before the actual event. The system can recognize the owners of the house. It learns the residing family’s daily routine, especially with the families having frequent visitors, and any unusual event. AI powers the surveillance cameras enabling them to analyze live video.”
ATWEC Technologies, Inc. (OTCPK: ATWT) BREAKING NEWS: ATWEC Technologies Acquires Level Three Security for Cash and Stock – ATWEC Technologies, a US-based technology company specializing in child safety, today announced it has signed a binding Letter of Intent with Level Three Security, a Memphis-based security company specializing in residential and commercial alarm services throughout the Southeast US.
Level Three agreed to be acquired for cash and stock, and will become a new business division of ATWT, adding its powerful surveillance products and services to ATWEC’s unique line of child safety and security products. Level Three’s President, Calvin Keys was enthusiastic about the deal, stating, “We utilize a robust surveillance and monitoring system to strengthen residential and workplace security in real time environments. We love being able to expand ATWEC’s target markets beyond vehicle safety, and into the homes and businesses of the community.”
The Company held a Board of Directors meeting on July 27, where the directors discussed the Company’s 2020 growth strategy, and unanimously approved the Level Three Security acquisition. The Company will immediately acquire substantially all of Level Three’s assets and liabilities, while adding new resources to assume the operations of its new security division. Specific terms of the transaction were not disclosed.
Alex Wiley, ATWEC’s President and CEO, said, “At a total projected cost of more than $1M, this acquisition is significant to our near-term financial outlook and our growth strategy. It is one of several transactions that the Board has been working on since early January, and represents the first step in our comprehensive growth by acquisition plan.” The Board likewise approved the acquisitions plan of offering the target companies cash and restricted stock, facilitated through a new liabilities funding program, scheduled to commence during 3Q 2020.
Additionally, the Company unanimously approved a plan to pursue a move from over-the-counter market to the OTCQB by 2021. The move will require financial audits and other minimum requirements, and the Company is now evaluating several PCAOB registered accounting firms to complete financial audits.
Mr. Wiley continued, “Today the Board approved a plan to get ATWEC to the OTCQB by 2021. The move will require financial audits and other specific requirements, but we are confident that we can get there quickly. This will be another milestone in our development from startup company to major player in security technology, working to make the world a safer place.” Read this entire release and more news for ATWT at: https://quotemedia.com/portal/news?qm_symbol=ATWT
Other recent developments in the markets include:
ADT Inc. (NYSE: ADT) recently announced that, via ADT Commercial, its commercial channel, it is joining forces with Dollar Tree, Inc (DLTR), to help provide protection to its retail locations nationwide. ADT Commercial, a premier provider of commercial security, fire, life safety and risk consulting services in the U.S., will provide comprehensive and innovative security solutions and monitoring services at the majority of Dollar Tree and Family Dollar locations across the U.S.
“In these rapidly evolving times, we’re thrilled to be partnering with Dollar Tree for what marks the largest contract to-date for ADT Commercial,” said Jim DeVries, President and CEO of ADT. “Dollar Tree has shown itself to be a true industry leader by seeking out some of the most groundbreaking, enterprise-level security solutions on the market.”
Alarm.com Holdings, Inc. (NASDAQ: ALRM) has recently won a New Product Showcase Award from the Security Industry Association (SIA), earning recognition in two categories for 2020. The Alarm.com Smart Water Valve+Meter, which redefines water management in smart homes and businesses, won the Smart Home Solutions category. On-Site Wrap Up, an Alarm.com MobileTech application that helps validate partner-defined installation procedures and improve customer satisfaction, was selected for the Design, Diagnostic and Installation Tools category.
“SIA’s recognition of our On-Site Wrap Up feature and Smart Water Valve+Meter underscores our commitment to creating innovative products and solutions that help our partners provide world-class service,” said Alarm.com Chief Product Officer Dan Kerzner. “We understand the value of having integrated devices controlled by a single platform. Equally important is making sure they’re simple to install and easy to use. Especially in today’s environment, we want to enable technicians to be as thorough and efficient as possible, so they can deliver the best professional service to customers using our technology.”
Digital Ally, Inc. (NASDAQ: DGLY) recently announced the receipt of notable orders for its Asset Tracking Unit (ATU) from zTrip, Inc. (“zTrip”) and Gila River Emergency Medical Transportation Services (Gila River). These two orders total over 600 ATUs with revenue exceeding $300,000 over the lifetime of the contracts.
The Company’s ATU features 4G cellular connectivity, allowing the unit to serve as a mobile hotspot and upload crucial video evidence and data directly to the cloud when the vehicles are in use. Additional features include GPS tracking, fuel consumption reports, and other customizable data.
Wrap Technologies, Inc. (NASDAQ: WRTC) recently reported another successful deployment of the BolaWrap remote restraint device on a noncompliant suspect. BolaWrap is carried by more than 150 police agencies across the United States and has been used to safely end dangerous police encounters in various cities across Texas, California, Florida, Minnesota, and now, New Mexico.
“We are pleased to see the BolaWrap continue to serve its purpose in the field on real subjects,” said Mike Rothans, Chief Operating Officer at Wrap Technologies and retired Assistant Sheriff of the Los Angeles County Sheriff’s Department. “When you think about the potential outcome of this encounter in light of recent events in Atlanta and Minneapolis, you can appreciate the outstanding policework done by Bernalillo County Sheriff’s Office and the potential life saved when they chose to use the BolaWrap.
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Trxade Group (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, on Monday provided its financial results for the second quarter ended June 30, 2020. Among the highlights, Trxade reported record revenues and an increase in growth profit. “The second quarter financial results, which showcased a 244% increase in revenues to a record $6.6 million and 72% increase in gross profit to $2.0 million,” Suren Ajjarapu, chairman and CEO of Trxade Group, stated in the news release. “This growth was driven by Personal Protective Equipment sales, such as N95 masks and sanitizer products through our Integra Pharma unit. As we move through the second half of 2020, we are better positioned than ever to execute upon our vision of continued growth of the platform, driven by new independent pharmacies, new suppliers and distributors.”
To view the full press release, visit http://nnw.fm/i9WhO
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (NASDAQ: MEDS) is an integrated drug procurement, delivery and healthcare platform that fosters price transparency, thereby improving profit margins for both buyers and sellers of pharmaceuticals. Trxade Group operates across all 50 states with the central mission of making healthcare services affordable and accessible. Founded in 2010, Trxade Group is comprised of four synergistic operating platforms: (1) the Trxade B2B trading platform with 11,725 registered pharmacies, (2) Integra Pharma Solutions, Trxade Group’s virtual wholesale division, (3) the Bonum Health platform offering affordable telehealth services, and (4) the DelivMeds app, which coordinates a nationwide distribution network through independent pharmacies or mail order delivery. For additional information, please visit www.Trxade.com, www.DelivMeds.com and www.BonumHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to MEDS are available in the company’s newsroom at http://nnw.fm/MEDS
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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The naked mole-rat (“NMR”) has the same size as the normal mouse and is also a burrowing rodent. The hairless rodent has been attracting a lot of attention from scientists due to its capability to resist cancer, its impressive ability to survive without oxygen for 18 minutes, and its unusually long lifespan.
One of the researchers has decided to research to determine the mechanisms behind the naked rat’s remarkable resistance to cancer.
The naked mole-rat has a very minimal case of cancer among all mammals, and more knowledge about this cancer-resistant trait will give more insights into how cancer develops in human beings. It may lead to discovering new ways of preventing and treating disease in human beings. The scientists emphasize the importance of minimal cancer incidence in this rodent and that one in birds. However, the scientists are interested in a naked mole-rat since it falls in the group of mammals, just like human beings.
Before the experiment, it was believed that the Naked Mole Rat cells were resistant to cancer. However, after the research, it was proven that after subjecting its cells to oncogenes that cause cancer in mice, the naked mole-rat cells were also affected. The researchers concluded from other advanced studies that the naked mole-rat cell can also become cancerous the same way human or rat cells can be affected. It was in contradiction with the original research from other researchers who had performed the same experiment. The conclusion was that the NMR cells could become cancerous.
There are different types of cancer, and certain types are treated better than others are. Researchers are aiming to identify the mechanisms that are suppressing cancer in the NMR. Those mechanisms could, therefore, be translated into human beings to help prevent disease. The aim is to get some immune cells that can kill cancer cells in early stages; then boost their efficiency in humans. In this way, scientists are hoping to come up with something transformational in preventing cancer. By studying the NMR as it’s the only mammal with exceptional cancer signs, hopefully, there will be some breakthrough.
It has been proven that NMR cells can become cancerous, but why are the animals themselves resistant? That’s what needs to be unraveled. Other areas also need to be investigated. For instance, it is either the mammal’s immune system that is extra attentive in noting and killing off cancerous cells or the environment where its cells live stops cancerous cells from penetrating.
A lot still needs to be done to come up with concrete evidence and facts behind NMR resistance to cancer. For instance, does the NMR immune system change in a way that the human immune system cannot? However, all the research has demonstrated that there is no straightforward way to prove why the NMR is resistant to cancer. Therefore, research must continue for a better understanding of why the NMR appears to be immune to cancer. It wouldn’t be surprising if companies like Predictive Oncology (NASDAQ: POAI) come up with solutions that utilize what is learned by studying the naked mole rat.
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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Modern-day mobile technology is making strides in the medical device industry and is opening up new avenues for both physicians and patients. However, for these devices to be successful, they need approval from the FDA. Initially, mobile technology was only referred to as the device that was implanted into patients and communicated directly to clinicians within the hospital’s confines.
This has now changed, and the trend is “wearables.” The wearable can be directly worn on the body or clothing as accessories. Currently, the wearables are being used mostly by athletes to monitor heart rates and other parameters. Your devices need to be approved for medical use, and here are the facts that you must consider to get this approval:
The FDA Must Clear the mHealth Apps
Mobile applications have become more common for people who are seeking to improve their overall health. These apps are used by consumers to track their daily calories, exercise, and other vital signs. Some of these consumer wearables are not medical devices and should not be considered products that can diagnose and treat. Furthermore, they cannot restore the health of an individual who has been impaired by infections.
Must Have Reliable Data
A suitable mobile device must empower physicians with reliable data and the physicians should be able to extract vital patient’s information from the device. Moreover, a first medical device should allow medics to monitor timings of dosages and frequency in a simpler way in form of charts and graphs.
The data should also be available to physicians from any place at the swipe of their fingers to determine possible treatment. Health data is very crucial in analyzing, treating, and caring for the patient. It is therefore critical for the FDA to validate the accuracy of the data.
Failure in the Software can Create Big Frustrations
The integration of software to control medical devices has evolved with the evolution of new technology. On the other hand, software failures have become the most significant cause of medical device recalls by the FDA. It is, therefore, necessary for medical device manufacturers to ensure effectiveness in medical software. Good software should be reliable and safe for medical use.
The Manufacturing Process of your Device is Essential to the FDA
The fruitful submission of your mHealth device to the FDA will depend on not only the accuracy of your data but also the reliability of the software. Therefore, your device needs to go through thorough validation, verification, and proper documentation by the FDA. Successful inspection from the FDA will confirm the safety and reliability of your medical equipment.
As mobile medical devices start playing a major role in the delivery of healthcare, the high stakes involved aren’t lost on biomedical firms like Genprex Inc. (NASDAQ: GNPX).
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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DarioHealth (NASDAQ: DRIO), a global digital-therapeutics company serving its users with dynamic mobile-health solutions, will begin serving Europeans with its health-monitoring solution through a strategic partnership with Williams Medical. Under the partnership, the DarioHealth Remote Patient Monitoring (“RPM”) digital therapeutics platform will be made available to healthcare professionals across the United Kingdom and Ireland. A recent article quotes DarioHealth COO Dror Bacher on this move, where Bacher states, “We are very excited about this partnership between DarioHealth and Williams Medical as this aligns with our international growth initiative by offering our world-class RPM platform to physicians outside of the United States. Williams’ in-depth understanding of the UK and Irish healthcare markets and strong presence in the primary care arena creates an ideal opportunity for us to deliver a best-in-class RPM solution to general practices and patients.”
To view the full article, visit: http://ibn.fm/vmzl1
About DarioHealth Corp.
DarioHealth is a leading, global, digital-therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, the company empowers individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. The company’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario offers one of the highest-rated diabetes solutions in the market, and its user-centric MyDario(TM) mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new geographic markets to address chronic conditions using a performance-based approach to improve the health of users managing chronic disease. To learn more about DarioHealth and its digital health solutions, visit www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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Q2 2020 Revenues Increase 244% to Record $6.6 Million; Continues Nationwide Platform Expansion
TAMPA, FL, July 27, 2020 — Trxade Group, Inc. (NASDAQ: MEDS), an integrated drug procurement, delivery and healthcare platform, has provided its financial results for the second quarter ended June 30, 2020.
Selected Financial Highlights
$ in millions |
Q2
2020 |
Q2
2019 |
% Increase (Decrease) |
Revenues |
$6.6 |
$1.9 |
244% |
Gross Profit |
$2.0 |
$1.2 |
72% |
Gross Margin |
30.4% |
60.7% |
(50%) |
Net Income (Loss) |
$(0.5) |
$0.1 |
(1,036%) |
Adjusted EBITDA1 |
$0.5 |
$0.08 |
525% |
1) Adjusted EBITDA is a non-GAAP financial measure and is described in relation to its most directly comparable GAAP measure under “Use of Non-GAAP Financial Information” below.
Second Quarter 2020 Financial Summary
- Revenues for the second quarter of 2020 increased 244% to a record $6.6 million, compared to revenue of $1.9 million in the same quarter last year. Sequentially, this represents an increase of 199% when compared to revenues of $2.2 million in the first quarter of 2020. The increase in revenue was primarily due to a significant increase in personal protective equipment (PPE) sales by the Company’s Integra Pharma segment as a response to the COVID-19 pandemic.
- Gross profit in the second quarter of 2020 increased 72% to $2.0 million, or 30.4% of revenues, compared to gross profit of $1.2 million, or 60.7% of revenues, in the same quarter last year. The increase in gross profit was at lower margins, which was primarily due to lower-margin sales of PPE, such as N95 masks and sanitizers.
- Operating expenses in the second quarter of 2020 were $2.5 million compared to $1.0 million in the same quarter last year. This increase is primarily due to non-cash stock-based compensation expenses.
- Net loss in the second quarter of 2020 was $(0.5) million, or $(0.07) per basic and diluted share outstanding, compared to net income of $0.1 million, or $0.01 per basic and diluted share outstanding, in the same quarter last year.
- Adjusted EBITDA, a non-GAAP financial measure, increased 525% to $0.5 million, compared to $0.08 million in the same quarter last year.
- Cash and cash equivalents were $4.2 million as of June 30, 2020, compared with $7.7 million as of March 31, 2020.
More information regarding the Company’s Q2 2020 results of operations can be found in the Quarterly Report on Form 10-Q which the Company plans to file July 27, 2020 with the Securities and Exchange Commission.
Management Commentary
“The second quarter financial results, which showcased a 244% increase in revenues to a record $6.6 million and 72% increase in gross profit to $2.0 million,” said Suren Ajjarapu, Chairman and Chief Executive Officer, who continued, “This growth was driven by Personal Protective Equipment sales, such as N95 masks and sanitizer products through our Integra Pharma unit.”
“Our affiliated service offerings also continue to expand, with Bonum Health proving to be a critical healthcare service to thousands of customers throughout the United States. To accelerate the growth of this telemedicine division, which we see a significant opportunity as more consumers look for innovative healthcare solutions, we recently appointed senior healthcare executive Ashton Maaraba as President of Bonum Health. As a seasoned leader, we look forward to leveraging his decades of relevant expertise to grow this segment.”
“As we move through the second half of 2020, we are better positioned than ever to execute upon our vision of continued growth of the platform, driven by new independent pharmacies, new suppliers and distributors,” concluded Mr. Ajjarapu.
Second Quarter 2020 and Subsequent Operational Highlights
- Trxade continued to expand its platform nationwide, adding 325 new independent pharmacies in Q2 2020, bringing the total registered pharmacy members to over 11,725.
- Appointed senior healthcare executive Ashton Maaraba as President of Bonum Health, the Company’s telemedicine subsidiary.
- Supplied multiple employers with COVID-19 rapid test kits for employees and families, providing a diagnosis within 15 minutes at the point of care.
- Engaged international investor relations specialists MZ Group to expand the Company’s comprehensive strategic investor relations and financial communications program across all key markets.
Conference Call and Webcast
Management will host a conference call today, July 27, 2020 at 5:00 p.m. EDT to discuss Trxade Group’s 2020 second quarter financial results. The call will conclude with a Q&A from participants. To participate, please use the following information:
Q2 2020 Conference Call and Webcast
Date: Monday, July 27, 2020
Time: 5:00 p.m. Eastern Daylight time
U.S. Dial-in: 1-877-425-9470
International Dial-in: 1-201-389-0878
Conference ID: 13707025
Webcast: http://public.viavid.com/index.php?id=140780
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
A playback of the call will be available through August 27, 2020. To listen, call 1-844-512-2921 within the United States or 1-412-317-6671 when calling internationally. Please use the replay pin number 13707025. A webcast will also be available for 30 days on the IR section of the Trxade Group website or by clicking the webcast link above.
About Trxade Group, Inc.
Headquartered in Tampa, Florida, Trxade Group, Inc. (Nasdaq: MEDS) is an integrated drug procurement, delivery and healthcare platform that fosters price transparency, thereby improving profit margins for both buyers and sellers of pharmaceuticals. Trxade Group operates across all 50 states with the central mission of making healthcare services affordable and accessible. Founded in 2010, Trxade Group is comprised of four synergistic operating platforms; (1) the Trxade B2B trading platform with 11,725 registered pharmacies, (2) Integra Pharma Solutions, Trxade Group’s virtual wholesale division, (3) the Bonum Health platform offering affordable telehealth services; and (4) the DelivMeds app, which coordinates a nationwide distribution network through independent pharmacies or mail order delivery. For additional information, please visit us at www.trxade.com, www.delivmeds.com, and www.bonumhealth.com.
Use of Non-GAAP Financial Information
This earnings release discusses EBITDA and Adjusted EBITDA. These measurements are not recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of performance. EBITDA represents net income before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before stock-based compensation expense and gain (loss) in equity investment. EBITDA and Adjusted EBITDA are presented because we believe they provide additional useful information to investors due to the various noncash items during the period. EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are: EBITDA and Adjusted EBITDA do not reflect cash expenditures, future requirements for capital expenditures, or contractual commitments; EBITDA and Adjusted EBITDA do not reflect changes in, or cash requirements for, working capital needs; and EBITDA and Adjusted EBITDA do not reflect the significant interest expense, or the cash requirements necessary to service interest or principal payments, on debt or cash income tax payments. Although depreciation and amortization are noncash charges, the assets being depreciated and amortized will often have to be replaced in the future, and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. Additionally, other companies in our industry may calculate EBITDA and Adjusted EBITDA differently than Trxade Group, Inc. does, limiting its usefulness as a comparative measure. See also “Reconciliation of Net Income attributable to Trxade Group, Inc., to Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA”, below.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management’s view of Trxade’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Trxade, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in filings made by Trxade with the Securities and Exchange Commission, including, but not limited to, in the “Risk Factors” sections in its Form 10-Ks and Form 10-Qs and in its Form 8-Ks, which we have filed, and file from time to time, with the U.S. Securities and Exchange Commission. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on Trxade’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. Trxade cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. We undertake no obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Investor Relations:
Luke Zimmerman
Senior Vice President
MZ Group – MZ North America
(949) 259-4987
MEDS@mzgroup.us
www.mzgroup.us
Trxade Group, Inc.
Consolidated Balance Sheets
June 30, 2020 and December 31, 2019
(unaudited)
|
|
June 30, 2020 |
|
|
December 31, 2019 |
|
Assets |
|
|
|
|
|
|
Current Assets |
|
|
|
|
|
|
|
|
Cash |
|
$ |
4,151,044 |
|
|
$ |
2,871,694 |
|
Accounts Receivable, net |
|
|
3,544,381 |
|
|
|
792,050 |
|
Inventory |
|
|
1,818,874 |
|
|
|
56,761 |
|
Prepaid Assets |
|
|
300,067 |
|
|
|
82,452 |
|
Deposits for Inventory purchases |
|
|
309,000 |
|
|
|
– |
|
Total Current Assets |
|
|
10,123,366 |
|
|
|
3,802,957 |
|
|
|
|
|
|
|
|
|
|
Property Plant and Equipment, Net |
|
|
151,397 |
|
|
|
174,987 |
|
|
|
|
|
|
|
|
|
|
Other Assets |
|
|
|
|
|
|
|
|
Deposits |
|
|
21,636 |
|
|
|
21,636 |
|
Deferred Offering Costs |
|
|
– |
|
|
|
88,231 |
|
Right of use leased assets |
|
|
709,911 |
|
|
|
757,710 |
|
Goodwill |
|
|
725,973 |
|
|
|
725,973 |
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
11,732,283 |
|
|
$ |
5,571,494 |
|
|
|
|
|
|
|
|
|
|
Liabilities and Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Liabilities |
|
|
|
|
|
|
|
|
Accounts Payable |
|
$ |
272,148 |
|
|
$ |
334,614 |
|
Accrued Liabilities |
|
|
349,850 |
|
|
|
98,852 |
|
Current Portion Lease Liabilities |
|
|
94,253 |
|
|
|
87,350 |
|
Customer Deposits |
|
|
3,574 |
|
|
|
– |
|
Total Current Liabilities |
|
|
719,825 |
|
|
|
520,816 |
|
|
|
|
|
|
|
|
|
|
Long Term Liabilities |
|
|
|
|
|
|
|
|
Notes Payable – Related Parties |
|
|
225,000 |
|
|
|
225,000 |
|
Other Long-term Liabilities – Leases |
|
|
636,081 |
|
|
|
685,461 |
|
Total Liabilities |
|
|
1,580,906 |
|
|
|
1,431,277 |
|
|
|
|
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
Series A Preferred Stock, $0.00001 par value; 10,000,000 shares authorized; none issued and outstanding as of June 30, 2020 and December 31, 2019, respectfully |
|
|
– |
|
|
|
– |
|
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 8,062,337 and 6,539,415 shares issued and outstanding, as of June 30, 2020 and December 31, 2019, respectively |
|
|
81 |
|
|
|
65 |
|
Additional Paid-in Capital |
|
|
18,909,083 |
|
|
|
12,535,655 |
|
Retained Deficit |
|
|
(8,757,787 |
) |
|
|
(8,395,503 |
) |
Total Shareholders’ Equity |
|
|
10,151,377 |
|
|
|
4,140,217 |
|
Trxade Group, Inc.
Consolidated Statements of Operations
For the Three and Six Months Ended June 30, 2020 and 2019
(unaudited)
|
|
Three months ended |
|
|
Six months ended |
|
|
2020 |
|
|
2019 |
|
|
|
2020 |
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
Revenues |
$ |
6,592,637 |
|
$ |
1,916,414 |
|
|
$ |
8,795,957 |
|
$ |
3,428,935 |
|
|
|
|
|
|
|
|
|
|
|
Cost of Sales |
|
4,587,865 |
|
|
753,138 |
|
|
|
5,151,049 |
|
|
1,118,977 |
|
Gross Profit |
|
2,004,772 |
|
|
1,163,276 |
|
|
|
3,644,908 |
|
|
2,309,958 |
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses |
|
|
|
|
|
|
|
|
|
General and Administrative |
|
2,540,049 |
|
|
1,030,571 |
|
|
|
3,991,958 |
|
|
2,005,494 |
|
|
|
|
|
|
|
|
|
|
|
Operating (Loss) Income |
|
(535,277 |
) |
|
132,705 |
|
|
|
(347,050 |
) |
|
304,464 |
|
|
|
|
|
|
|
|
|
|
|
Investment Loss |
|
– |
|
|
(58,850 |
) |
|
|
– |
|
|
(87,822 |
) |
Interest Expense |
|
(7,310 |
) |
|
(15,874 |
) |
|
|
(15,234 |
) |
|
(33,432 |
) |
Net (Loss) Income |
$ |
(542,587 |
) |
$ |
57,981 |
|
|
$ |
(362,284 |
) |
$ |
183,210 |
|
|
|
|
|
|
|
|
|
|
|
Net (Loss) Income per Common Share – Basic: |
$ |
(0.07 |
) |
$ |
0.01 |
|
|
$ |
(0.05 |
) |
$ |
0.03 |
|
|
|
|
|
|
|
|
|
|
|
Net (Loss) Income per Common Share – Diluted: |
$ |
(0.07 |
) |
$ |
0.01 |
|
|
$ |
(0.05 |
) |
$ |
0.03 |
|
|
|
|
|
|
|
|
|
|
|
Weighted average Common Shares Outstanding – Basic |
|
7,580,977 |
|
|
5,621,082 |
|
|
|
7,324,512 |
|
|
5,591,055 |
|
|
|
|
|
|
|
|
|
|
|
Weighted average Common Shares Outstanding – Diluted |
|
7,580,977 |
|
|
6,058,977 |
|
|
|
7,324,512 |
|
|
6,058,959 |
|
|
|
|
|
|
|
|
|
|
|
Trxade Group, Inc.
Consolidated Statements of Cash Flows
For the Six months ended June 30, 2020 and 2019
(unaudited)
|
|
2020 |
|
|
2019 |
|
|
|
|
|
|
|
|
Operating Activities: |
|
|
|
|
|
|
|
|
Net (Loss) Income |
|
$ |
(362,284 |
) |
|
$ |
183,210 |
|
|
|
|
|
|
|
|
|
|
Adjustments to reconcile net income to net cash used in operating activities: |
|
|
|
|
|
|
|
|
Depreciation Expense |
|
|
2,500 |
|
|
|
2,500 |
|
Options expense |
|
|
245,903 |
|
|
|
99,990 |
|
Warrant Expense |
|
|
100,383 |
|
|
|
– |
|
Stock Grants |
|
|
829,867 |
|
|
|
– |
|
Bad Debt Expense |
|
|
9,000 |
|
|
|
– |
|
Share in Equity Losses in Investment |
|
|
– |
|
|
|
87,822 |
|
Amortization of right to use asset |
|
|
47,799 |
|
|
|
43,939 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Accounts Receivable |
|
|
(2,761,331 |
) |
|
|
(279,852 |
) |
Prepaid Assets and other Current Assets |
|
|
(217,615 |
) |
|
|
(70,119 |
) |
Inventory |
|
|
(1,762,113 |
) |
|
|
(466,850 |
) |
Deposits for Inventory purchases |
|
|
(309,000 |
) |
|
|
– |
|
Lease Liability |
|
|
(42,477 |
) |
|
|
(36,276 |
) |
Accounts Payable |
|
|
(17,871 |
) |
|
|
362,599 |
|
Customer Deposits |
|
|
3,574 |
|
|
|
– |
|
Accrued Liabilities and Other Liabilities |
|
|
250,988 |
|
|
|
(6,652 |
) |
Net Cash (used in) operating activities |
|
|
(3,982,667 |
) |
|
|
(79,689 |
) |
|
|
|
|
|
|
|
|
|
Investing Activities: |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
|
|
(23,505 |
) |
|
|
– |
|
Purchase of equity method investment |
|
|
– |
|
|
|
(250,000 |
) |
Net Cash (used in) investing activities |
|
|
(23,505 |
) |
|
|
(250,000 |
) |
|
|
|
|
|
|
|
|
|
Financing Activities: |
|
|
|
|
|
|
|
|
Payment of Stock Issuance Costs |
|
|
(732,355 |
) |
|
|
– |
|
Proceeds from exercise of Warrants |
|
|
22,952 |
|
|
|
166 |
|
Proceeds from exercise of Stock Options |
|
|
501 |
|
|
|
– |
|
Proceeds from Issuance of Common Stock |
|
|
5,994,424 |
|
|
|
– |
|
Net Cash provided by financing activities |
|
|
5,285,522 |
|
|
|
166 |
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in Cash |
|
|
1,279,350 |
|
|
|
(335,628 |
) |
Cash at Beginning of the Year |
|
|
2,871,694 |
|
|
|
869,557 |
|
Cash at June 30, 2020 and 2019 |
|
$ |
4,151,044 |
|
|
$ |
533,929 |
|
|
|
|
|
|
|
|
|
|
Supplemental Cash Flow Information |
|
|
|
|
|
|
|
|
Cash Paid for Interest |
|
$ |
3,984 |
|
|
$ |
2,997 |
|
Cash Paid for Income Taxes |
|
$ |
– |
|
|
$ |
– |
|
|
|
|
|
|
|
|
|
|
Non-Cash Transactions |
|
|
|
|
|
|
|
|
Common Stock Issued for Conversion of Note and Accrued Interest |
|
$ |
– |
|
|
$ |
211,983 |
|
ROU assets and operating lease obligations recognized |
|
$ |
– |
|
|
$ |
847,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Net (Loss) Income attributable to Trxade Group, Inc., to Earnings before Interest, Taxes,
Depreciation and Amortization (EBITDA) and Adjusted EBITDA*
|
|
Three months ended |
|
|
Six months ended |
|
|
2020 |
|
|
2019 |
|
|
|
2020 |
|
|
2019 |
|
|
|
|
|
|
|
|
|
|
|
Net (Loss) Income attributable to Trxade Group, Inc. |
$ |
(542,587 |
) |
$ |
57,981 |
|
|
$ |
(362,284 |
) |
$ |
183,210 |
|
|
|
|
|
|
|
|
|
|
|
Add (Deduct): |
|
|
|
|
|
|
|
|
|
Interest (net) |
|
7,310 |
|
|
15,874 |
|
|
|
15,234 |
|
|
33,432 |
|
Depreciation and Amortization |
|
1,250 |
|
|
1,250 |
|
|
|
2,500 |
|
|
2,500 |
|
EBITDA |
|
(534,027 |
) |
|
75,105 |
|
|
|
(375,018 |
) |
|
152,278 |
|
|
|
|
|
|
|
|
|
|
|
Add (Deduct): |
|
|
|
|
|
|
|
|
|
Investment Loss |
|
– |
|
|
(58,850 |
) |
|
|
– |
|
|
(87,822 |
) |
Stock-based Compensation |
|
1,035,373 |
|
|
64,011 |
|
|
|
1,176,153 |
|
|
99,990 |
|
Adjusted EBITDA |
$ |
501,346 |
|
$ |
80,266 |
|
|
$ |
801,135 |
|
$ |
164,446 |
|
|
|
|
|
|
|
|
|
|
|
* EBITDA and Adjusted EBITDA are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. See also “Use of Non-GAAP Financial Information”, above.
Jerrick Media Holdings (OTCQB: JMDA), a technology company and the parent company of Vocal and Creatd, is committed to disrupting the digital social media space. JMDA recently filed an amended SEC S-1A, which details the company’s plans to uplist to the NASDAQ and rebrand itself as Creatd, with the ticker symbol “CRTD”. A recent article notes that “the company has a simple plan for capturing its targeted market, once you understand it.” The article continues to point out the following noteworthy elements: “JMDA is a second-mover attempting to capitalize where others have failed to do so profitably; [t]he company has been burning cash while building its platform and is now in the early innings of the commercial stage; [a]n acquisition added a sales team and completed the company’s commercial structure; [t]here is a clear path to profitability; [t]he stock is pending approval for an uplisting to Nasdaq.”
To view the full article, visit http://nnw.fm/XjOnQ
About Jerrick
Jerrick Media Holdings, Inc. is the parent company and creator of the Vocal platform. The Company creates technology-based solutions to solve problems for the creative community. Through Vocal, Jerrick identifies and leverages opportunities within the digital platform and content monetization space. Since launching in 2016, Vocal has become home to over 600,000 content creators and brands of all shapes and sizes, attracting audiences across its network of wholly owned and operated communities. For more information, visit the company’s website at https://jerrick.media.
NOTE TO INVESTORS: The latest news and updates relating to JMDA are available in the company’s newsroom at http://nnw.fm/JMDA
About NetworkNewsWire
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- Psychedelics have shown positive results for treatment of mental health conditions including anxiety, depression, PTSD, addiction, eating disorders, ADHD
- Big pharma failed to bring drug innovations in mental health space; psychedelics may satisfy vast unmet need
- With secured delivery mechanisms and manufacturing contract in hand, Cybin appears well positioned to capitalize on growing market trend
As big pharma has failed to bring groundbreaking drug innovations into the mental health space, new data increasingly shows that psychedelics may close this gap, creating an entirely new market of safe and effective psychedelics medicines (http://nnw.fm/ZaMw1). Cybin Corp., a leading Canada-based, life-sciences company, is focused on developing pharmaceutical-grade psychedelic products and appears ideally positioned to make the most of this groundbreaking research.
Found in certain species of mushrooms, psilocybin — the main compound of pharmaceutical psychedelic products — has shown positive results for the treatment of anxiety, depression, PTSD, addiction, eating disorders and ADHD. As a research-first, life-science company, Cybin views mushroom-derived psychedelic compounds as brain boosters that have the potential to rebuild pathways and break negative patterns.
Psilocybin offers a scientific breakthrough in treating these conditions as it is rapidly metabolized to psilocin, which impacts serotonin receptors in the brain. With an increasing number of scientific research and clinical studies documenting that this naturally occurring, nonhabit-forming, psychedelic compound offers considerable positive effects in the treatment of mental health and other conditions, the serotonergic psychedelics today are being increasingly viewed in a new light as society embraces these benefits. Leading the wave of the mushroom-based products revival, Cybin has been laying the foundation for the moment pharmaceutical psychedelics achieve recognition in North America and worldwide.
Cybin is potentially poised to be the first company to develop psilocybin-based medicine designed to target major depressive disorders. Currently involved in structuring a clinical study that will be conducted through an academic partner in the Caribbean, Cybin has already filled a patent application for a diverse set of delivery mechanisms, identified synthetic psilocybin active pharmaceutical ingredients (“API”) sources and obtained a contract with a synthetic psilocybin oral film manufacturer.
It currently takes researchers around 12 months to get psilocybin for their studies as they wait for regulatory approval. In contrast, Cybin has secured 25mg API available immediately, which is sufficient for Phase 2a and Phase 2b trials in patients with moderate depressive disorder. The company is also in the process of developing its own proprietary API for psychedelic clinical research, with an initial focus on psilocybin and with a view of expanding to other analogs found in mushrooms (http://nnw.fm/Il9X5).
Cybin operates in the functional mushroom market with a goal to develop fungi-derived psychedelic and medicinal products to treat mental illness and other health conditions. The business model of this early-stage, life-sciences company includes two wholly owned core subsidiaries: Serenity Life Sciences, focused on advancing research and development of psilocybin-based psychedelic pharmaceutical products, and Natures Journey Inc., developing medicinal nonpsychedelic nutraceutical products.
According to the World Health Organization, more than 700 million individuals around the world are affected by some type of mental illness, addiction, or eating disorder. Clearly, there is a considerable unmet medical need for effective treatments for these types of mental health conditions. Led by a proven team of professionals with extensive experience in clinical trials and commercialization of new drugs, Cybin is emerging as a leader in the psychedelics space, poised to leverage its robust scientific capabilities to capitalize on the significant psychedelics-growth potential.
For more information, visit the company’s website at www.Cybin.com.
NOTE TO INVESTORS: The latest news and updates relating to Cybin are available in the company’s newsroom at http://nnw.fm/Cybin
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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SRAX (NASDAQ: SRAX), a provider of digital-marketing and consumer data-management technology solutions, is leveraging a trending demand for increased communication and transparency in an era of big information. SRAX delivers platform solutions to owners and seekers in this big data age with tools to help both consumers and brands across various industries. A recent article discussing this reads, “Along with Sequire, SRAX delivers a suite of specialized tools for other industries, delivering a digital competitive advantage for brands in the CPG, luxury goods and lifestyle verticals by integrating all aspects of the advertising experience into one platform. At a time when consumers are becoming increasingly aware of the value of their data, SRAX is more than several steps ahead with the company’s BIGtoken platform, comprising over 16 million users and providing them with compensation for their data while simultaneously creating reliable data sets that can be accessed by marketers for a fee.”
To view the full article, visit: http://nnw.fm/0xwCW
About SRAX
SRAX is a digital-marketing and consumer data-management technology company. SRAX’s technology unlocks data for brands in the CPG, investor relations, luxury and lifestyle verticals. Through its various platforms, SRAX is monetizing its data sets and growing multiple recurring revenue streams. BIGtoken is a consumer-managed data marketplace where people can own and earn from their data. The platform also provides advertisers and media companies access to transparent, verified consumer data to better reach and serve audiences. Sequire is a premier platform for investor intelligence and communication. Through Sequire, public companies can track their investors’ behaviors and trends, and use those insights to engage current and potential investors across marketing channels. For more information on SRAX and its verticals, visit www.SRAX.com.
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://nnw.fm/SRAX
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Sigma Labs (NASDAQ: SGLB), a leading developer of quality assurance software for the additive manufacturing industry, on Thursday reported financial and operational results for the second quarter ended June 30, 2020. Among other highlights, the company reported revenue of $0.2 million for the quarter, marking a significant increase compared to revenues of $34,000 for the second quarter of 2019. SGLB attributes the revenue increase to PrintRite3D(R) unit sales, the legacy Rapid Test and Evaluation (“RTE”) program and an in-house RTE during the quarter. “Our customers are increasingly engaged with our sales staff, reaffirming what we always knew to be true – that the market momentum and increased demand for more agile manufacturing systems due to COVID has been an exciting tailwind for Sigma and our increasingly plug-and-play PrintRite3D product. On the financial front, our $1.5 million offering in April 2020 has served to fortify our balance sheet against market uncertainty resulting from the COVID-19 pandemic and subsequent macro-economic pressure. This, paired with a reduction in cash burn by over $100,000 per month, has better positioned us to weather any macro-economic storms that may arise over the coming months. Executive salary deferments and other cuts such as these stand as a testament to our team’s belief in the long-term potential of our product and our commitment to create value for our shareholders,” Sigma Labs president and CEO Mark Ruport stated in the news release.
To view the full press release, visit http://nnw.fm/SOh6I
About Sigma Labs, Inc.
Sigma Labs is a leading provider of quality assurance software to the commercial 3D metal printing industry under the PrintRite3D(R) brand. Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (“CAI”) solutions known as PrintRite3D(R) for 3D advanced manufacturing technologies. Sigma Labs’ advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling non-destructive quality assurance mid-production, uniquely allowing errors to be corrected in real-time. For more information, please visit www.SigmaLabsInc.com.
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://nnw.fm/SGLB
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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Internet use in the medical industry has tremendously grown over the past years. The continual propagation of mobile medical devices and the amount of data in hospitals are trends medical device manufacturers should keep in mind. Also, tracking cyber-security trends should be the main aim of device manufacturers due to an increased number of cyber-attacks on medical devices. Since lives are at stake, the FDA has stepped in to guide manufacturers to ensure the safety of medical devices in the global internet world. It has called for the protection of these devices as hackers may hack them for malicious purposes.
How Hackers can Hack and Use Medical Devices
Most of the systems in the hospitals have high levels of security. However, medical devices may be an area of vulnerability and these medical devices are the point where the hackers may find entry into hospital systems. The main aim of hacking the systems is not to harm the patients but to have access to research data and patients’ records. In turn, the information is used by hackers to gain access to the hospital’s financial system or steal valuable patient information.
The stolen data may be used in manipulating the administrators for redemption. Hackers can also use the information to trigger malfunctions in the systems, thus indirectly harming patients. Besides, the information can also be used in creating undetectable malware that may take control of a drug pump. The malware can then cause the drug pump to inject dangerous doses of medication to patients, leading to their death.
FDA’s Opinion on Medical Devices and Cyber-Security
According to the FDA, addressing medical device cyber-security threats should be a shared responsibility. When these duties are shared, they will reduce the menace of injury, patients’ illness, and death. Besides, device manufacturers, healthcare facilities, providers, and patients must come together to curb security threats. Some of the medical device cyber-security concerns device manufacturers need to consider include:
- Every cyber-security blackmail is unique, and no single approach can address each scenario.
- Connecting medical devices through wireless or wired devices may not operate as intended, which leaves them exposed to hackers.
- The time taken to approve medical devices by the FDA is lengthy, while cyber threats are emerging daily.
The FDA has offered directives to the device manufacturers to develop cyber-security controls to ensure the devices are safe from hackers. Also, the cyber-security controls will ensure security and proper functionality of the medical devices. Some of those proposed security controls include; strong passwords, restriction of firmware, software updates, and user authentication.
Additionally, the FDA also proposes a collaboration between experts in cyber-security and medical device manufacturers to come up with strongly protected devices. It is also adding that security safeguards be implemented in the early stages of device design. To evade all these threats, cyber-security safeguards must be understood from the point of design to the risk management viewpoint.
Entities like Predictive Oncology (NASDAQ: POAI) that offer personalized medical remedies certainly take cyber threats seriously, and all sector players would do well to go above and beyond to prevent cyber-attacks from compromising their products or systems.
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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Since the outbreak of COVID-19, a lot of industries have come to a standstill and most institutions and research centers have scrambled to look for ways to control and curb this deadly pandemic. Interestingly, the pandemic has also brought a lot of regrets to some inventors. The regret comes as a result of not owning the rights of their inventions, especially now when the whole world is struggling to fight the virus.
The Handwashing Bucket Inventor is Full of Regret
Veronica Beckeo is one of the inventors who have lamented as their ideas were not patented before the outbreak of the pandemic. She came up with the idea of the handwashing bucket over three decades ago in Ghana, and this handwashing bucket has been useful to many people in rural areas where running water is a scarce commodity.
This particular model has found itself in schools, hospitals, and churches in several African countries and industries. The buckets have been of great value in preventing infections and facilitating handwashing in medical laboratories. The handwashing tool was fondly named “Veronica Buckets” as a result of the legendary inventor’s love for her invention.
As we speak, the product is gaining new interest daily in the middle of COVID-19 pandemic. However, the inventor failed in securing intellectual property protection for her work. The scientist says that her invention was the result of pure inspiration. She began by fixing a tap on aluminum utensils, which improvisation sold highly in the Ghanaian markets. They were also used as medical basins in laboratories.
It is so unfortunate that her occupation as a biological chemist took much of her time which robbed her of the opportunity to undertake the complete patent rights process. The failure to do the patenting application is therefore a significant source of regret to the enthusiastic inventor.
A Call for Recognition
“I am not taking advantage of the situation with the outbreak of COVID-19 however, my call is to inform the world that the invention is mine.” Those were her exact words as the pandemic spread far and wide. The scientist is now calling for recognition for her invention, especially now that there is mass production of those handwashing buckets by several industries.
Beckeo’s invention is a powerful tool in the fight against the pandemic as handwashing has become more critical in fighting the virus. Several plastics manufacturers have even come up with new versions of the original device and they claim this to be their innovation. It is, therefore, vital for every innovator to patent their innovations. Experts say you will not find established biomedical companies like Genprex Inc. (NASDAQ: GNPX) without sizeable legal teams to ensure that any patentable invention gets the protection it deserves before imitators have a chance to copy the idea.
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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DarioHealth (NASDAQ: DRIO), a global digital-therapeutics company serving its users with dynamic mobile-health solutions, was recently featured in a Data Bridge Market Research report. The piece highlighted DarioHealth’s advancements in digital diabetes management, a rapidly growing market expected to become the “next best thing” in the wake of the current coronavirus pandemic that has made it more difficult for patients to receive treatment. A recent article discussing the company’s standout solution reads, “With 4.9 stars on the Apple App Store and 11,000 reviews, Dario is one of the highest-rated diabetes solutions in the market, and its user-centric MyDario(TM) mobile app is a popular product with over 50,000 consumers around the globe. With a powerful commitment and contribution to chronic condition management through innovative digital-therapeutic solutions, including a novel method for chronic-disease data management, the company is rapidly moving toward addressing new chronic conditions and into new geographic markets.”
To view the full article, visit: http://ibn.fm/8xeWV
About DarioHealth Corp.
DarioHealth is a leading, global, digital-therapeutics company revolutionizing the way people with chronic conditions manage their health. By delivering evidence-based interventions that are driven by data, high-quality software and coaching, the company empowers individuals to make healthy adjustments to their daily lifestyle choices to improve their overall health. The company’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology to deliver highly engaging therapeutic interventions. Dario offers one of the highest-rated diabetes solutions in the market, and its user-centric MyDario(TM) mobile app is loved by tens of thousands of consumers around the globe. DarioHealth is rapidly moving into new geographic markets to address chronic conditions using a performance-based approach to improve the health of users managing chronic disease. To learn more about DarioHealth and its digital health solutions, visit www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DarioHealth are available in the company’s newsroom at http://ibn.fm/DRIO
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
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