BOUCHERVILLE, QUEBEC--(Marketwire - May 19, 2010) - Biotonix (2010) Inc. (TSX VENTURE: BTX) ("Biotonix"), a leader in postural health and fitness, today announced the financial results for the first quarter ended March 31, 2010, and a review of its activities.
"We are gearing up for the launch of GolfPrint™, Biotonix's new postural assessment solution intended to enhance golfers' performance, and have teamed up with Daniel Langevin, CPGA, head coach of AGP (Association des golfeurs professionnels du Quebec) sport-etudes program, University of Montreal's Carabins-Golf and Golf Performance Academy, to help us further develop the product and implement strategies for business development,'' said Louise St-Onge, CEO of Biotonix. In addition, we are on track in our strategy execution to grow web-based software solutions sales by increasing our presence in the fitness markets with the signing of a first deal with Quebec's leading network of independent gyms, Movaxion. Discussions have been initiated with other organizations and we expect to conclude some agreements during the course of this quarter and beyond," she concluded.
FIRST QUARTER 2010 HIGHLIGHTS AND BEYOND
-- On May 18, Biotonix concluded an agreement with golf pro Daniel
Langevinto collaborate on the R&D and business development of
GolfPrint™, its static golf posture assessment and performance
solution to be launched June 16.
-- On May 6, Stephane Quintal, former professional hockey player and
President of Mansfield Gyms, was appointed to Biotonix's Advisory
-- On April 29, Biotonix concluded an agreement with Movaxion, Quebec's
leading group of independent gyms, for the implementation of
FitPrint™, its posture and fitness assessment software solution.
-- On March 24, Biotonix (2010) Inc. shares began trading on the Toronto
Venture Exchange (TSX-V) under the symbol BTX.
-- On March 18, 2010, following the closing of its qualifying transaction
and $2.5M concomitant financing, Capital Valmoris Inc. changed its
corporate name to Biotonix (2010) Inc.
WEB-BASED SOLUTIONS FOR POSTURE CORRECTION
Biotonix has developed a unique biomechanical evaluation system and method which is at the core of all its applications. The system helps health and fitness professionals to assess, improve and monitor posture and overall fitness. The Biotonix web-based imaging software system is easy to use, non-invasive and provides a complete individualized assessment of musculoskeletal form and function, postural deviation detection, and corresponding corrective exercises. To date, the Company has generated over 350,000 postural and fitness assessments, including over 1,000 world-class athletes.
According to Golf Quebec and the Federation Quebecoise de Golf, over 1,000,000 Quebecers played at least one golf game in 2009 and over 600,000 played at least five times. Out of the 381 listed golf clubs in Quebec and the Ottawa region, 270 are members of Golf Quebec.
As part of its strategic plan, Biotonix aims to tap into the golf market with the planned launch of GolfPrint™, a customized posture evaluation solution for golfing, on June 16. The new solution is designed to assess static golf posture, body alignment and other important parameters that may enhance golfers' performance. The solution is being developed in collaboration with the University de Montreal department of kinesiology and Daniel Langevin, CPGA, head coach AGP's sport-etudes program, University of Montreal's Carabins-Golf and Golf Performance Academy. The system is currently being validated with Langevin and his students at the Golf Performance Academy.
According to IHRSA, 15% of Canadians have a fitness club membership. In Canada, members number 4,635,000 across 5,047 clubs, which represents a USD 1.89 billion industry (1). Designed to meet the specific needs of the fitness market, FitPrint™ has the capability to assess posture as well as establish physiological age in order to improve muscular balance, performance and overall fitness, and rejuvenate the body.
At the end of April, Biotonix concluded an agreement with Movaxion, the leading group of independent gyms in Quebec, for the implementation of FitPrint™, tailored to meet their specific needs. The first implementation phase kicked-off at the beginning of May in eastern Quebec and will be followed by western Quebec. Movaxion already boasts 26 affiliated branches across the province. Biotonix is currently in discussions with other fitness organizations and expects to conclude some agreements during the second quarter and remainder of 2010.
R&D PROGRAM: NOVEL ORTHOTICS FOR THE BACK AND FOOT
Combining orthotic devices with physical exercise can overcome some practical limitations which can occur when relying solely on a corrective exercise program. Using the postural and biomechanical assessment data generated by the Biotonix system, the Company's aim is to manufacture and deliver adjustable orthotics for the back and custom-made orthotics for the foot, using new technological and manufacturing processes. Biotonix has initiated the patent application process to protect the intellectual property related to its orthotic devices under development.
The primary focus for 2010 will be on the postural alignment table which is currently at the first prototype development stage. The Company expects to initiate a clinical trial for the use of its postural alignment table during the second half of 2010.
1. The 2008 IHRSA Global Report on the State of the Health Club Industry
2010 FIRST QUARTER RESULTS AVAILABLE
The quarterly unaudited interim financial statements and management's discussion and analysis for the three-month period ended March 31, 2010, of Biotonix (2010) Inc. (formerly Capital Valmoris Inc.), compared to the unaudited quarterly financial results for the three-month period ended March 31, 2009 of the private company 32527326 Canada Inc. (formerly Biotonix Inc.), following the March 18, 2010 reverse takeover are available (French only) on Biotonix's website at www.biotonix.com as well as on the SEDAR website at www.sedar.com
OUTSTANDING SHARE DATA
As of March 31 2010, the Company had 21,035,000 common shares issued and outstanding. As of March 31, 2010, the number of common shares that would be issued upon stock options conversion is 1,965,000.
Biotonix (TSX VENTURE: BTX) offers innovative health solutions for posture correction and fitness using a web-based imaging software technology. Biotonix is currently developing novel orthotics for the back and foot, also geared specifically toward improving posture. For more information please visit www.biotonix.com
BIOTONIX'S FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. There is a risk that expectations and forward looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on these forward looking statements as they involve risks and uncertainties, which could make actual results differ materially from those projected herein and depend on a number of factors including, but not limited to, no history of profitability, future financing, intellectual property and patents, key personnel, competitive marketplace, technology obsolescence, share price volatility and other risks detailed from time to time in the Company's filings. While Biotonix anticipates that subsequent events and developments may cause its views to change, Biotonix specifically disclaims any obligation to update these forward looking statements, unless obligated to do so by applicable securities laws
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.