HYDROMER INC - HYDI STOCK NEWS

Hydromer, Inc. (OTC: HYDI), a leader in hydrophilic coating technologies, has announced the formation of a new Research and Development (R&D) division. This restructuring introduces a world-class science team focused on innovation and performance, adding two Ph.D. chemists and one M.S. chemist. Dr. Yonghua Zhou, Ph.D. in Polymer Science, will lead the team, bringing extensive experience in polymer science and new product development.

The company aims to enhance product offerings, improve operational efficiency, and drive future growth. Under new executive leadership, Hydromer has refocused on improving financial reporting, enhancing operational efficiencies, and advancing coating technologies. The R&D team will work on developing advanced coatings that are more durable and environmentally friendly, addressing growing regulatory restrictions on harmful solvents.

CEO Mike Torti stated that this strategic move is expected to reposition Hydromer as a leader in product development and innovation, opening new doors and markets for the company's growth.

Hydromer, Inc. (OTC: HYDI) announced preliminary unaudited Q2 2024 financial results and provided a business update. Key highlights include:

1. Revenue decreased 32% to $836,000 compared to Q2 2023.

2. Cost of Goods Sold reduced by 23% to $129,000.

3. Operating Expenses decreased by 8% to $713,000.

4. Net Ordinary Income declined 102% to a loss of $6,700.

5. Net Income decreased 97% to $30,000.

The company attributed the sales decline to customer attrition and insufficient sales efforts. However, Hydromer secured 12 new R&D projects and signed contracts with 6 new customers for coating services. The company remains committed to strengthening operations and sales strategies.

Hydromer, Inc. reported positive financial results for the first quarter of 2024, with revenue increasing to $1,093,000, a growth of 8% compared to the same period in 2023. Operating expenses decreased by 25% to $622,000, and net income surged by 754% to $333,000. The company emphasized strategic growth initiatives and profitability, aiming to enhance shareholder value through new product development and targeted sales campaigns.

Hydromer, Inc. (HYDI) has made significant progress in reducing overhead costs, increasing sales, and investing in new product innovations and marketing activities. The company has revised its fiscal year, reduced overhead by 33%, and expects a 10% reduction in expenses. Sales increased by 5% to $4.1M in 2023, and the addition of a seasoned sales executive is anticipated to drive aggressive prospecting and international distributorships. Marketing efforts, including email, LinkedIn, Google AdWords, and SEO, are expected to boost lead generation. The relaunch of the SeaSlide™ hydrophilic watercraft coating and plans for new product additions demonstrate the company's commitment to product development. CEO Michael Torti's focus on closer contact with key accounts and the implementation of incentive plans for sales personnel indicate a strong growth mentality and culture improvements within the company.

Hydromer, Inc (OTC: HYDI) announces rebranding initiatives aimed at growth and product innovation. The CEO emphasizes the ambition to explore new business opportunities through aggressive new product development efforts while creating long-term value for shareholders.

Hydromer, Inc announces the formation of its first Scientific Advisory Board and welcomes Mr. Eric Becktel as its inaugural member. Becktel's extensive experience in the biotech industry and his long-standing association with the company make him a valuable asset. The formation of the board marks a significant milestone for Hydromer as it strives for success and innovation in the biotech sector.

Hydromer Inc. releases letter to shareholders outlining achievements, challenges, and strategic vision.

Hydromer Inc. announces attendance at BIOMEDevice conferences to pursue partnerships and showcase innovations

Hydromer, Inc. (OTC: HYDI) announces the resignation of its entire board of directors with no disagreements. The company swiftly appointed new members to ensure continuity, including Braeden Lichti, George Kovalyov, and Mike Torti. Lichti, the new Chairman, expressed gratitude to the departing members and emphasized a renewed phase of growth and innovation, promising value for shareholders.