Qualis Innovations Inc. enters into an Agreement with CIM Securities to raise up to $4,000,000 in Funding
Qualis Innovations Inc. (QLIS) announced a $4 million Series A preferred stock offering aimed at accredited investors. The funds will support the development of its SOLACE device, a non-invasive medical technology designed to provide alternative pain management solutions using electromagnetic induction. The company plans to file its 510(k) application with the FDA by late 2022. This offering reflects Qualis Innovations' strategy to enhance its product portfolio and optimize market opportunities, while acknowledging the associated risks for potential investors.
- Raising $4 million through Series A preferred stock offering, expanding capital for development.
- Development of the SOLACE device aimed at addressing unmet pain management needs.
- Planned FDA submission for 510(k) application by fourth quarter of 2022.
- Investment is categorized as highly risky, with potential for complete loss of principal.
- Offering dependent on reaching a minimum investment threshold before termination.
Chadds Ford, Pennsylvania, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Qualis Innovations Inc. currently trades under the symbol “QLIS” entered into an agreement with CIM Securities to raise up to
Through our wholly owned subsidiary mPathix Health Inc. we are a clinical stage company focused on the development, production, and distribution of pain management and other central nervous system (CNS) based solutions.
We are developing a product designed to address the unmet needs of patients who seek alternatives to traditional pain medications and interventions or adjunctive therapies to their current treatment regimen. We are currently developing our SOLACE device which is a non-invasive medical device that uses electromagnetic induction to generate deep heat below the surface of the skin to reduce and relieve pain. SOLACE™ delivers radio frequency (RF) energy continuously and thereby delivers thermal effects to the tissue and utilizes several differentiated features vs other radio frequency devices currently on the market. We believe that our SOLACE device product will provide clinicians and patients with new and differentiated set of pain management tools to meet the diversity of patient needs. We plan to submit our 510(k) application with the Federal Drug Administration (“FDA’) by the fourth quarter of 2022.
A key element to the Company’s growth strategy is to acquire the rights to or develop existing devices. Large device companies have increased the minimum market opportunity they require in order to commit marketing resources to their products. As a result, there are many products that are unsupported by such companies and are currently scheduled to be phased out or “sunsetted.” Qualis Innovations believes that it can create significant value by developing or acquiring rights to a portfolio of such products, expanding their therapeutic uses and/or markets, improving or enhancing such products and dedicating the appropriate amount of marketing and other resources to maximize the value of the Company’s portfolio.
The Offering:
Qualis Innovations, Inc., is offering on a “best efforts” basis through CIM Securities, LLC, a FINRA member broker-dealer as the managing placement agent and the officers and directors of the Company solely to verified accredited investors under Section 4(a)(2) and Rule 506(c) of Regulation D promulgated under the Securities Act of 1933, as amended up to 4,000,000 shares of
About CIM Securities:
CIM Securities is an independent investment bank that serves micro-cap and small-cap companies by providing capital raising solutions and merger and acquisition services for companies seeking growth capital.
CIM Securities offers private placement transactions where shares of or other investments in a particular company are purchased directly from the issuers. CIM Securities also provide brokerage account services through its relationship with a clearing firm, Hilltop Securities.
Forward-Looking Statements Disclosure:
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "beliefs," "estimates," "expects," "intends," " plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
Please visit our SEC filings or Company's website for more information on the full results and management's plan.
Contact:
John Ballard 303-885-5501
website: qualisinnovations.com
FAQ
What is the purpose of the Series A offering by Qualis Innovations (QLIS)?
When does Qualis Innovations plan to submit its 510(k) application?
What is the SOLACE device developed by Qualis Innovations (QLIS)?
Who is managing the Series A offering for Qualis Innovations?
What are the risks associated with the investment in Qualis Innovations (QLIS)?
