Electromedical Issues
Shareholder Letter from the CEO on the Road Ahead for
2022
SCOTTSDALE, AZ -- January 13,
2022 -- InvestorsHub NewsWire -- Electromedical Technologies,
Inc. (OTC:
EMED) ("Electromedical" or the "Company"), a pioneer in the
development and manufacturing of bioelectronic devices, is pleased
to issue the following Annual Letter to Shareholders from the
Company's Chief Executive Officer:
Dear Valued
Shareholder,
Let me first express our
tremendous gratitude to you for your loyalty, patience, and
commitment as we work to drive lasting success and achieve our
vision at Electromedical Technologies, Inc. The path hasn't always
been easy, but we currently find ourselves on the doorstep of a
very exciting new chapter in the Company's history.
The Company reached several key financial and
operational milestones in 2021.
- We improved our financial
position by significantly reducing our outstanding variable
convertible debt. This puts us in a better position to utilize our
financial resources to expand our production capacity, strengthen
our balance sheet and enhance our bottom line, as well as provide
protection for market dilution to preserve shareholder
value.
- We further strengthened our
financial position, by obtaining an equity line capable of
providing the necessary capital to drive product research and
development, with terms that are more favorable than past
financings. We recently filed a Form S-1 registration statement for
this financing, and expect to receive the SEC's notice of
effectiveness soon.
- Finally, while we have yet to
publish fully audited financial data for the year, I expect that
the Company will deliver strong topline growth in 2021, compared to
our 2020 financial performance.
On the operations side, 2021 was also a tremendous year
of progress in laying a foundation for future growth.
- Most importantly, we achieved a
critical milestone in the development of our Wellness Pro POD
Prototype, and are now in the functionality testing stage. Our
completion of this more affordable and easy-to-use device is our
primary operational milestone in 2022, and we expect it to
exponentially enhance our operating results. We look forward to
submitting our WellnessPro POD working prototype for SGS laboratory
testing and regulatory submission this year and are targeting the
middle of 2022.
In addition, 2021 saw the
onboarding of 110 new independent sales representatives, which
should act as a strong tailwind for future sales growth in the
quarters ahead. This important step was accompanied by our
completion of an online medical representative training program to
improve and expedite the training process, ultimately seeding the
field for further gains in market share.
Looking ahead, 2022 lines up as
another exciting year of progress for Electromedical.
In the year ahead, we will
continue our efforts to expand both our Board of Directors and our
Advisory Board, with qualified, strategically valuable, and
independent minds to help us maximize our value proposition as an
emerging leader in the drug-free medical solutions
space.
We are committed to fostering
new relationships and cultivating new strategic distribution
partnerships to broaden our marketing and distribution reach. We
plan to continue to drive gains in the size of our medical device
sales rep team to capitalize on that widening reach. Additionally,
we are on the lookout for strategically aligned target companies to
acquire that are interested in an M&A opportunity.
On the production side, we are
currently in the process of negotiating with a North American
production resource, which will help to mitigate overseas supply
disruptions, decrease supply chain lead times, and drive down
shipping costs. This step has the potential to significantly
improve our unit economics and our ability to quickly scale up
production at a time when we are poised to drive potentially
substantial gains in product demand and sales volume.
In summary, the market
opportunity for a drug-free medical solution for pain relief has,
if anything, only continued to grow in the past year. As a result
of the pandemic, people are becoming increasingly conscious of
their health and the importance of pursuing a healthier drug-free
lifestyle.
According to the National Center
for Health Statistics, the opioid epidemic grew by 31% in 2020.
Almost 100,000 people died as a result of related overdose and drug
interaction issues. The situation seems to have worsened in 2021.
The demand for opioid alternatives for pain treatment should
continue to fuel significant gains in broad public demand for
drug-free pain treatments. This trend dovetails with continued
growth in adoption of wearable technologies of all kinds, creating
a strong tailwind for the launch of our next-generation
solution.
Electromedical Technologies has
positioned itself as an emerging leader in meeting that market
opportunity. We are committed to helping people live pain free and
enjoy a better quality of life with our technology in the quarters
and years ahead.
Best Regards,
Matthew Wolfson, CEO
About Electromedical Technologies
Headquartered in Scottsdale,
Arizona, Electromedical Technologies, Inc. is a commercial stage,
FDA cleared, bioelectronic medical device manufacturing company
initially focused on the treatment of various chronic, acute,
intractable, and post-operative pain conditions. Through University
collaboration agreements, the Company is working to develop a
comprehensive research program in defining the effects of
electro-modulation on the human body. By studying the impacts of
electrical fields in cell signaling and effects on virus assembly
and immune responses, the Company's goal is to reduce pain and
improve overall human wellbeing. The Company's current FDA cleared
product indications are for chronic acute post traumatic and
post-operative, intractable pain relief.
For more
information, please visit www.electromedtech.com.
Note: Nonhuman preliminary
studies that we are planning to start in the near future and their
applications are not related to our current product in any way and
are currently not cleared in the US.
Safe Harbor Statement
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance or guarantee that such expectations and assumptions
will prove to have been correct. Forward-looking statements are
generally identifiable by the use of words like "may," "will,"
"should," "could," "expect," "anticipate," "estimate," "believe,"
"intend," or "project" or the negative of these words or other
variations on these words or comparable terminology. The reader is
cautioned not to put undue reliance on these forward-looking
statements, as these statements are subject to numerous factors and
uncertainties, including but not limited to: adverse economic
conditions, competition, adverse federal, state and local
government regulation, international governmental regulation,
inadequate capital, inability to carry out research, development
and commercialization plans, loss or retirement of key executives
and other specific risks. To the extent that statements in this
press release are not strictly historical, including statements as
to revenue projections, business strategy, outlook, objectives,
future milestones, plans, intentions, goals, future financial
conditions, events conditioned on stockholder or other approval, or
otherwise as to future events, such statements are forward-looking,
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements contained in this release are subject to certain risks
and uncertainties that could cause actual results to differ
materially from the statements made.
Corporate Contact:
Electromedical
Technologies, Inc.
Hanover
International
Tel:
1.888.880.7888
Email:
ir@electromedtech.com
https://electromedtech.com