NEW YORK, April 10, 2014 /PRNewswire/ --
SPO Global Inc. (SPOM), a leading developer of biosensor and
microprocessor technologies for use in portable wellness devices,
announced today financial results for the year ended December 31, 2013. During this period the Company
expanded its new wellness product line and increased sales
activities.
Total revenue for 2013 was $556,000 compared to $316,000 for the same period in 2012. The
increase in revenue is primarily attributed to the expanded
distribution of its private-labeled pulse oximeter - the HoMedics
Deluxe Pulse Oximeter - for over-the-counter consumer wellness
markets.
In addition, during Q4-2013 the Company, through its partnership
with MZB & Company Inc., launched a new consumer wellness watch
that incorporates unique wearable technology branded as "Live Well
by SHARP" designed to measure overall daily activity level. This
new and innovative product, continuously measures the number of
daily activities and calories burned against a recommended goal, as
well as being a fashionable time-piece. Commercial shipments of the
"Live Well by SHARP" have already begun.
The Company is now working to further expand its current product
distribution under private label to other large retailers. To
complement this strategy, in late 2013 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 now working
closely with its distribution partners to realize new retail
product opportunities for 2014 and beyond.
Looking forward, SPO Global anticipates expanding other product
opportunities currently under development - specifically a unique,
non-invasive baby wellness monitor product range for parental
reassurance especially when babies are sleeping. These new
innovative baby monitors are set to provide a pro-active, real-time
baby wellness monitoring system for use in family homes.
With over 8 million births annually in the USA and Western
Europe alone, the Company views these product opportunities
with great interest, since most commercial homecare baby monitors
currently in the market do not give parents or caregivers wellness
information, particularly while their babies are sleeping.
Further details as to SPO Global financial information and
results of operations for the fiscal year ended December 31, 2013 are contained in the Company's
Annual Report on Form 10-K filed with the Securities and Exchange
Commission on April 9, 2014.
About SPO Global
SPO Global is a leading developer of biosensor and
microprocessor technologies for use in portable wellness 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,
our ability to continue as a going concern, expectations regarding
the successful expansion of our product base to include the
wellness watch, baby monitor, profitability, market acceptance of
our products and new product applications, timing of new product
launches, success of the Company's rebranding program, product
performance, size of prospective markets, revenue assessments,
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,
2013. 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