BRAIN SCIENTIFIC INC - BRSF STOCK NEWS

Brain Scientific (OTCQB: BRSF) has partnered with LOK Corporation to enhance its U.S. and global distribution network for neurological devices. The company aims to accelerate the reach of its flagship products, NeuroCap and NeuroEEG, designed for easier EEG testing across various settings. LOK Corporation, known for its extensive distributor network in medical technologies, will help Brain Scientific expand its market presence. This collaboration targets improved accessibility and efficiency in neurodiagnostics, aligning with the growing trend of patient care beyond traditional clinical settings.

Brain Scientific (BRSF) reported third-quarter financial results for the period ending September 30, 2021. Key highlights include a merger with Piezo Motion and the appointment of Hassan Kotob as CEO. The company raised $5 million through bridge financing, expanding its product offerings and partnerships. Product revenue increased to approximately $185,000, up from $145,000 in 2020. However, the company incurred a net loss of $318,000, an improvement from a $945,000 loss in the previous year. Cash reserves fell to $27,000 from $273,000 at year-end 2020.

Piezo Motion, a Brain Scientific company (OTCQB:BRSF), announced a distribution partnership with Precise Motion & Control Inc. on November 15, 2021. This collaboration aims to enhance Precise Motion's product offerings by including Piezo Motion's innovative and compact piezoelectric motors. These motors are designed for OEMs, providing speed and accuracy, particularly aimed at the medical device market. With applications worldwide, including biomedicine and industrial automation, Piezo Motion's technology supports the growing market demand for efficient and cost-effective solutions.

Brain Scientific (OTCQB: BRSF) has appointed three independent board members: Daniel Cloutier, Thomas Olivier, and Donald MacKenzie. The new directors bring extensive expertise in sales strategy, investment banking, and financial restructuring to the company. Chairman Hassan Kotob expressed confidence in their ability to guide the company as it seeks to innovate within the medical technology sector. Brain Scientific focuses on neurodiagnostic and OEM medical devices, with patented products like NeuroCap and NeuroEEG aimed at enhancing neurological diagnostics.

Brain Scientific Inc. (OTCQB: BRSF) has successfully closed a $5 million financing round alongside its merger with Piezo Motion Corp. The merger, official as of October 1, 2021, aims to leverage both companies' technologies to create innovative neurological and motion-related medical products. CEO Hassan Kotob highlighted the strategic importance of this merger for accessing institutional capital and potential transition to NASDAQ or NYSE. The deal integrates teams of experts, poised to enhance the market reach and product offerings in the rapidly growing EEG and robotic surgery sectors.

Brain Scientific (OTCQB: BRSF) has announced a definitive merger agreement to acquire Piezo Motion Corp., aimed at combining their innovative technologies to capture high growth markets. The transaction, contingent upon $5 million capital raise and shareholder approvals, is expected to close in July 2021. The merger promises to enhance market reach and deliver advanced MedTech solutions, focusing on brain diagnostics and precision motion applications. Following the merger, the combined company will feature a diverse board and maintain operations across multiple locations including New York and Silicon Valley.

Brain Scientific (BRSF) announced that Maine Medical Center has ordered its Pediatric NeuroCap™ EEG caps for pediatric patients. This device addresses comfort and reliability issues in EEG testing, featuring 22 pre-gelled electrodes and designed for use up to four hours. With approximately 3.4 million people in the U.S. diagnosed with epilepsy, the demand for effective EEG testing is evident. The Company aims to enhance healthcare delivery through its innovative products, catering specifically to children’s neurological needs.

Brain Scientific (OTCQB: BRSF) filed its Annual Report for the fiscal year ending December 31, 2020, reporting revenue growth to $544,275, up from $489,202 in 2019. The company is enhancing its NeuroCap and NeuroEEG products, with plans to scale production in the U.S. and expand to the EU. Significant R&D investment of $275,926 marks a 266% increase from the previous year. Total assets grew to $440,218, while total liabilities surged to $5,237,042 primarily due to increased derivative liabilities and convertible notes. The company aims for new product introductions and patent filings in the upcoming 24 months.

Brain Scientific (OTCQB: BRSF) has secured its first purchase order for the NeuroCap™ EEG headset from the Department of Veterans Affairs for a hospital. The NeuroCap is a disposable, pre-gelled EEG headset that helps mitigate cross-contamination risks, particularly critical during the COVID-19 pandemic. It features 19 channels and 22 electrodes, designed for quick application in both inpatient and outpatient settings. This order marks a significant step in establishing a long-term relationship with VA Medical Centers, addressing the urgent need for rapid neurological testing.