Electromedical Technologies
Reports Comparative 48%
Revenue Growth for June 2021 Quarter
Results demonstrate that new marketing initiatives are
achieving company objectives
SCOTTSDALE, AZ -- August
18, 2021 -- InvestorsHub NewsWire
-- Electromedical
Technologies, Inc. (OTCQB:
EMED)
(the "Company"), a pioneer in the development
and production
of bioelectronic
devices designed to relieve chronic, intractable and acute pains by
using frequencies and electro-modulation, is pleased to announce
that it recorded strong results for
the second quarter of 2021, ending June 30, as compared to the same
period in 2020.
Quarter ended June 2021 Highlights:
- Revenue increased to $202,954, up from
$136,755, a roughly 48% increase over 2Q 2020.
- Selling,
General,
and Administrative expenses declined by approximately $259,000, to
$677,781, down 28% from the $936,669 recorded
in 2Q
2020.
- Net loss from
operations was ($524,658) versus
($817,909) in 2Q 2020.
- Total net loss
improved
to ($774,532), or ($0.02) per
share, from ($840,255), or ($0.04),
for 2Q 2020.
Matthew Wolfson,
Founder and CEO of EMED, noted, "We are pleased with our strong
operating
results for the second quarter of 2021. Implementation
of
our
new sales and
marketing initiatives, are starting to pay
off as
indicated by the significant increases in both unit sales and
revenue. We will continue to
emphasize these
initiatives going
forward,
which could provide an enhanced foundation for our outreach
efforts, potentially resulting in repeat orders from our partners
and distributors."
"Separately, as
year-end approaches,
our team plans to
update shareholders regarding our progress with the
development of the WellnessProPlus POD
which is a
critical pending milestone for EMED."
Six Months ended June 30, 2021
Highlights
- Revenue increased to
$369,394 up from $351,625, a roughly
5% increase over
the six months
ended June 30, 2020.
- Selling, General, and
Administrative expenses increased by approximately
$842,435, to $2,367,254, down
90% from
the $1,524,819 recorded during the six
months ended June 30, 2020.
- Net loss from operations
was ($524,658)
versus
($817,909) during the six months ended
June 30, 2020.
- Total net loss
decreased
to
($3,334,916), or ($0.10) per share, from
($1,291,496), or ($0.07), for the six months
ended June 30,
2020.
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. 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 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