NEW YORK, January 9, 2014 /PRNewswire/ --
SPO Global Inc (SPOM), a leading developer of biosensor and
microprocessor technologies for use in portable monitoring devices,
announced today it generated approximately $550,000 in revenues in 2013 compared with
$316,000 in fiscal 2012. The majority
of these revenues were from shipments of its consumer wellness
product to US mass-market retailers. The revenues figures are
preliminary estimates which are subject to change and actual year
end results will be published with the Company's 2013 year end
audited financial statements.
During 2013 the Company continued to manufacture a
private-labeled, consumer over-the-counter (OTC) pulse oximeter for
non-medical applications, which is being marketed by various
retailer stores throughout the US and Canada. In addition, during Q4-2013 the
Company (through its partnership with MZB & Company Inc.)
launched a new and innovative consumer wellness watch branded as
"Live Well by SHARP" designed to measure overall daily activity
level. Primary customers for the wellness watch include people
looking to improve their daily activity levels, as well as the 100
million adults and children today in the US alone who are
considered to be overweight or obese. The Company is now working to
further expand its product distribution under private label to
other large retailers and also plans to release additional products
during 2014, based on its rich patent portfolio for mass-market
consumer applications.
Michael Braunold, Chief Executive Officer of SPO, commented:
"2013 demonstrated further growth for the Company in which we were
able to access North American mass-market retailers through partner
relationships distributing under private-label. We plan on
expanding our product portfolio during 2014 to further leverage on
our success to date. This will include the launch of a unique,
non-invasive baby wellness monitor for parental reassurance
especially when babies are sleeping. This new innovative baby
monitor will provide a pro-active, real-time baby wellness
monitoring application for use in family homes. With over 8
million births annually in the USA
and Western Europe alone, we view
this product opportunity with great interest, since commercial
homecare baby monitors currently in the market, do not give parents
or caregivers wellness information particularly while their babies
are sleeping."
As announced recently, the Company changed its corporate name to
SPO Global Inc to better reflect the nature of its products and
current business focus. The Company is working closely with its
distribution partners to realize new retail product opportunities
during 2014 and beyond. Braunold continued: "We look forward to an
exciting year ahead for the Company as our products enter new
consumer wellness segments, which in turn contributes to
potentially increasing value for the SPO shareholders."
About SPO Global
SPO Global is a leading developer of biosensor and
microprocessor technologies for use in portable monitoring devices
to capture life-enhancing information within four key markets:
sports, wellness, homecare monitoring and security. Its patented
technology uses information gathered from the reflectance of light
on the human body, in a noninvasive manner, to monitor key vital
signs. The company manufactures its products in addition to
licensing its technologies to appropriate client corporations for
commercialization and distribution. For more information, visit
http://www.spoglobal.com.
Forward Looking Statements
This press release contains
forward-looking statements that involve substantial uncertainties
and risks. These forward-looking statements are based upon our
current expectations, estimates and projections about our business
and our industry, and that reflect our beliefs and assumptions
based upon information available to us at the date of this release.
We caution readers that forward looking statements are predictions
based on our current expectations about future events. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and assumptions that are
difficult to predict. Our actual results, performance or
achievements could differ materially from those expressed or
implied by the forward-looking statements as a result of a number
of factors, including but not limited to, the actual revenues
recorded for 2013, the continued generation of revenues and/or
further growth in revenues, expectations regarding the
successful expansion of our product, market acceptance of our
products and new product applications, timing of new product
launches, product performance, size of prospective markets, revenue
assessments, unpredictable sales cycles, profitability, marketing
strategies, success of our restructured operations and plans, our
ability to generate fees or raise capital to support our business
operations and plan, the sufficiency and availability of working
capital, changes in economic conditions generally and in more
specifically, the introduction of competing products, changes in
our operating strategy or development plans patent protection for
our products and technologies, changes in economic conditions
generally and in more specifically, in the markets we operate,
changes in technology, legislative or regulatory changes that
affect us and the risks and uncertainties discussed under the
heading "Risk Factors" in Item 1 of our Annual Report on Form 10-K
for the fiscal year ended December 31,
2012. We undertake no obligation to revise or update any
forward-looking statement for any reason.
Contact regarding this release:
SPO Global
investors@spoglobal.com
1-866-991-7766
SOURCE SPO Medical