Kelyniam Global Inc. Announces Second Quarter 2012 Revenues
2012年10月15日 - 10:29PM
Second Quarter Results
Kelyniam Global Inc. (OTC: KLYG) For the quarter ending June
30th 2012 Kelyniam Global Inc. reported a loss of $45,692 on custom
cranial product revenue of $196,435, compared to a net loss of
$149,000 on revenues of $210,000 in the first quarter 2012.
The company attributes the slight reduction in revenue to a slow
April. Kelyniam expects the tepid sales of the spring to
become robust with the arrival of "trauma season". Trauma
season is the seasonal variation in trauma cases during the warmer
weather months, according to the American College of Surgeons.
http://www.facs.org/trauma/ntdb/fantus/0906.pdf
In addition to the product revenue, the company realized
$100,000 of grant revenue from the Connecticut Department of
Economic Development (DECD) in the second quarter.
Professional costs were greater in Q2 from several one-time
events; the line-of-credit with Westfield Bank and the DECD
funding. The company also incurred higher legal fees
defending a lawsuit filed by former employee John Mastoloni.
The company expects to incur additional legal costs in the coming
quarters as the lawsuit continues and therefore will no longer
pursuit fully reporting status. Other one-time expenses for
the quarter were costs associated with filing the 510k for
craniofacial implant approval with the FDA.
Kelyniam had a productive quarter with its emergence as a
multiproduct company with the filing of the 510k to manufacture and
market craniofacial implants made from PEEK-OPTIMA. In order
to facilitate the anticipated growth of several product lines the
company took steps to shore up the financials with the
line-of-credit and the DECD aid package.
Recent Business Developments
September - Kelyniam received FDA approval to market
craniofacial implants in the United States.
September - Kelyniam President and CEO Tennyson Anthony recently
traveled to Kuwait to sit down with government officials to discuss
their purchasing of Kelyniam products. Mr. Anthony returned
very optimistic that a first order will be coming in the near
future. During the visit Mr. Anthony met with various doctors
and surgeons interested in using the company's current products and
others who were excited about the company's future products.
Ministry of Health officials were quoted as saying to Mr. Anthony,
"[O]ur country puts a priority on our healthcare system and has
been rapidly developing it since the liberation, therefore we are
only interested in the best products. Kelyniam will be a
great fit."
Research & Development
The company continues to allocate resources on improving
efficiencies with the manufacturing process. Currently the
company is working on prototypes of 2 products that do not yet
exist in the medical device marketplace.
Financial tables can be found on the company's website
www.kelyniam.com
About Kelyniam Global, Incorporated
Kelyniam Global Inc. specializes in the use of CAD/CAM
technology to provide patient specific custom implants to assist
medical professionals by allowing them to operate more effectively,
improve patient care, and reduce health care costs by providing the
highest quality products available with today's technology. The
company is continually researching and developing new products and
processes to help patients live more active and productive
lives.
Please visit our website at www.kelyniam.com for more
information.
Forward-Looking Statements
Except for historical information contained in this release, the
matters discussed are forward-looking statements that involve risks
and uncertainties. When used in this release, words such as
"anticipate," "believes," "estimate," "expect," "should," "intend,"
"projects," "objective" and "appears" and similar expressions, as
they relate to the Company or its management, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of the Company's management, as well as
assumptions made by and information currently available to the
Company's management. Among the factors that could cause actual
results to differ materially are the following: the effect of
business and economic conditions; the impact of competitive
products and pricing; capacity and supply constraints or
difficulties; product development, commercialization or
technological difficulties; the regulatory and trade environment;
the impact of reimbursement rates and coverage; and the risk
factors reported from time to time in the Company's SEC reports.
The Company undertakes no obligation to revise any forward-looking
statements as a result of future events or developments.
Kelyniam Global (PK) (USOTC:KLYG)
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