ELECTROMEDICAL TECH INC - EMED STOCK NEWS

Electromedical (EMED), a leader in bioelectronic medical devices, has provided a shareholder update highlighting recent achievements and strategic advancements. Key points include:

1. 17% year-over-year revenue increase in 2023
2. Strategic partnership with Lionheart Health, winner of the Abbvie Allergan Aesthetics ULP Golden Passport Award
3. Completion of Wellness Pro Infinity™ product development
4. Successful renegotiation of creditor agreements
5. Launch of pre-orders for Wellness Pro Infinity™
6. Onboarding of a medical group with 200 sales representatives

The company has positioned itself for growth with its innovative technology and expanded market reach, aiming to transform chronic pain treatment approaches.

Electromedical Technologies, Inc. (OTC-PINK: EMED) has released preliminary unaudited financial data for the year ending December 31, 2022. Total revenue reached approximately $1.15 million, marking a 26.7% increase year-over-year. In Q4 alone, revenue surged by 79% year-over-year and 51% sequentially. CEO Matthew Wolfson highlighted a strong marketing performance and significant brand awareness as driving factors. The company plans to launch its new WellnessPro Infinity device, featuring enhanced capabilities, in 2023. Management is optimistic about expanding customer resources and growth opportunities in the upcoming year.

Sika Health and Electromedical Technologies, Inc. (OTC: EMED) announced a partnership enabling HSA/FSA payments on Electromedical's eCommerce site. This innovative integration allows millions suffering from chronic pain to purchase pain relief products directly using their HSA/FSA funds, eliminating the need for reimbursement through healthcare administrators. CEO Matthew Wolfson stated this partnership enhances affordability while maintaining profit margins. With around 70 million Americans holding HSA/FSA accounts, this collaboration aims to address the significant amount of unspent benefits, which totaled $4.2 billion in 2020 alone.

Electromedical Technologies (OTC-QB: EMED) reported a 24% increase in net sales, totaling approximately $280,000 for Q3 2022, reflecting its best quarterly performance since Q1 2020. The company narrowed its net loss to $2.64 million over nine months, a 60% improvement year-over-year. Investment in the new WellnessPro Infinity™ device and expanded marketing efforts are underway in anticipation of a 2023 launch. However, selling, general, and administrative expenses increased by 23% compared to the previous year, partly due to hiring a new sales director.

Electromedical Technologies has completed the development of its new flagship device, the WellnessPro Infinity™, designed to relieve various pain types. The company plans to start taking pre-orders in Q1 2023, following electrical safety testing. This device boasts features like compactness, versatility in treatment modalities, and a user-friendly interface. Electromedical emphasizes the device's potential to improve patient outcomes and address the opioid crisis. The WellnessPro Infinity™ is expected to set a new standard in the bioelectronics market, with plans for ongoing updates and developments.

Electromedical Technologies, Inc. (OTC-QB: EMED) reported a strong Q3 2022, with sales of approximately $280K, a 24% increase from Q2. This marks the second highest revenue since Q1 2020, though lower than $301K in Q3 2021. The company secured $900K in financing to boost new unit development and expanded its distributor network. Management anticipates continued growth in Q4, driven by onboarding new sales representatives and enhanced market penetration of its flagship product, WellnessPro Plus.

Electromedical Technologies, Inc. (EMED) reported significant financial progress for Q2 2022, showing an 11% rise in net sales to $225k, with gross margins up to 80%. The company's operational loss decreased by 85% to $283k. For the first half of the year, net sales grew 21% to $447k, while the net loss shrank 49% to $1.7M. They also improved their balance sheet with a $600k debt reduction via a debt-to-equity conversion. Electromedical is focusing on expanding sales and marketing while developing next-generation technology for scalable growth.

On July 20, 2022, Electromedical Technologies (OTC: EMED) announced a major restructuring of its balance sheet. The company converted $668,369.56 in promissory notes into approximately 26.7 million shares of restricted common stock at $0.025 per share. This agreement resulted in a 35% reduction in convertible promissory note-related debt, significantly impacting the company's total liabilities of around $2.2 million as of March 31, 2022. CEO Matthew Wolfson expressed gratitude to the debtholder for their support, marking a shift towards a long-term partnership.

Electromedical Technologies (OTCQB: EMED) has appointed Lee Benson, CEO of Execute to Win, to its Board of Directors. Benson, known for his successful turnaround of Able Aerospace and extensive deal-making experience, is expected to provide valuable insights during a critical growth phase for Electromedical. Founder Matthew Wolfson expressed confidence in Benson's ability to help scale the company's operations. Electromedical focuses on developing FDA-cleared bioelectronic devices for pain relief and aims to enhance its research capabilities in electro-modulation's effects on health.