Electromedical Technologies Issues Letter to Shareholders Outlining the Opportunity Ahead
SCOTTSDALE, Ariz., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Electromedical Technologies, Inc. (OTC: ELCQ) (“Electromedical Technologies” or the “Company”), a pioneer in the development and manufacturing of bioelectronic devices, including the FDA cleared WellnessPro®, designed to relieve chronic, intractable and acute pain by using frequencies and electro-modulation, issues the following Letter to Shareholders on behalf of the CEO:
Dear Valued Shareholder,
With a number of significant research, partnership, and product catalysts dead ahead, we believe we are standing on the threshold of actualizing the tremendous promise we have cultivated over the past several years, and we want to start out today by expressing our heartfelt gratitude for your commitment and patience as we work to build something with truly revolutionary potential.
Bioelectronic medicine is a breakthrough in progress, with a strong and growing bedrock of legitimate peer-reviewed research in the medical science establishment now confirming what we have known for years: it works.
Electromedical Technologies’ Wellness Pro® product, using proprietary bioelectronic medical technologies, provides a viable and effective alternative to drugs for those suffering from chronic pain. Our technology already helps patients across the US, and we have new products in research and development, as well as patents pending with the USPTO to protect our unique IP as we attack this enormous market.
Over 100 million Americans suffer from some form of chronic pain. Globally, experts believe the chronic pain market is an opportunity expected to grow to $69 - $105 billion over coming years. But current solutions to this epidemic are woefully inadequate. According to data from the National Institutes of Health (NIH), in 2018 over 128 people died each day from opioid-related drug overdose.
Social distancing measures and stay-at-home orders have been implemented across the country as a method of trying to contain the unpredictable and worsening spread of the COVID-19 virus. This will have adverse effects on those who are struggling with chronic pain and Americans with opioid use disorder, who are already vulnerable and are heavily dependent on face-to-face health care delivery. CNN recently reported that the opioid crisis in the U.S. will worsen during and after the COVID-19 pandemic. Our device can be used as an alternative to face to face treatments for home use and monitored remotely by healthcare professionals.
At Electromedical Technologies, our technology has been shown to be very effective over the past 10 years with excellent patient results and without any of the risks or side effects that come from pills. Other companies are beginning to invest in this space as well, as was recently reported on the front page of Time Magazine “Electrifying Medicine”.
We have already made great progress. Our Government VA FSS Contract (Number V797D-40250) allows us to sell to any VA, DAPA, or government facility. We have already sold 8,000 units of our WellnessPRO® device, with customers including over 250 schools and universities, who use our devices in their athletic departments and research programs, and a number of professional athletes and sports teams in the NBA, NHL, and NFL.
We were also recently awarded a “COFEPRIS license”, which means we can sell our medical devices in Mexico. We also opened an office in Queretaro, Mexico (Electromedical de Mexico) to capitalize on this opportunity and lay a foundation for international sales.
We have completed a collaborative agreement with Nazarbayev University, Nur-Sultan, Kazakhstan, to develop a comprehensive research program in defining the effects of electro-modulation on a physiological state of human body by studying the impacts of alternating electrical fields on cell signaling. There is also an interest to expand the electro-modulation studies to identify most effective frequencies interfering with replication and assembly of large single-stranded RNA viruses.
In addition we have established a Bioelectronics Medical Practitioner program with CCNM (California College of Natural Medicine) in partnership with Electromedical Technologies, which is pending State approval, creating a professional program that will provide practitioner continuing education credits and bring awareness to various bioelectronic technologies as well as our WellnessPro® product line.
We are ready to expand as well with our new device, WellnessPro® POD, which is planned to be released in the near future, and we expect it to address not only chronic pain, but new modalities using frequencies that naturally tap into the body’s electrochemical system without the use of potentially harmful drugs.
We have many new updates to come in the very near future, as well as news on partnerships, research results, endorsements, and further advances on the R&D and IP side of the business.
As always, thank you for your continued support and commitment. A revolution is already underway to solve many health issues by tapping into the body’s built-in electrochemical operating system, and Electromedical Technologies is on the frontline in that battle. We look forward to updating you again very soon.
Matthew Wolfson, CEO
Electromedical Technologies, Inc.
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 with the goal of improving human wellbeing. The company’s current cleared product indications are for chronic acute post traumatic and post-operative, intractable pain relief.
For more information, visit https://electromedtech.com
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.