SANUWAVE Health Provides Business Update
SANUWAVE Health, Inc. (PINK: SNWV) announced its shares will cease trading on the OTC Market Pink due to untimely financial report filings with the SEC, moving to the expert market instead. Despite this, the company reported strong operational performance with record unit shipments in August and a robust pipeline. Management expects to achieve break-even sales and outlines plans for cost savings through manufacturing relocations. Updates on financial reports and a conference call to discuss results are anticipated.
- Record unit shipments in August.
- Strong near-term pipeline, indicating potential business growth.
- Expectations of achieving break-even sales.
- Cost-saving measures from relocation to Eden Prairie, MN.
- Shares will no longer trade on OTC Market Pink, indicating compliance issues.
- Failure to timely file periodic financial reports with the SEC.
SUWANEE, GA, Sept. 28, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- SANUWAVE Health, Inc. (PINK: SNWV), a leading provider of next-generation wound care products, has announced that as of September 28, 2021, the Company’s shares will no longer be traded on the OTC Market Pink, or the “pink sheets,” due to the Company’s failure to timely file its required periodic financial reports with the Securities and Exchange Commission (the “SEC”). As a result, the Company’s shares will trade on the expert market until the Company becomes current in its reporting obligations and re-lists its shares with the OTC Markets. We are working diligently to file all necessary period financial reports with the SEC as soon as reasonably practicable. We intend to provide updates to the investment community as we make certain milestones with the relisting process.
“Our business operations remain robust with a record month occurring in August for the number of units shipped. Our pipeline, in the near-term, remains at a record high and gives us comfort that the business will continue to make improvements into the fourth quarter. We also have a full conference schedule in October and November with symposium focused on SANUWAVE at three of these conferences, which should also build the momentum in the business. Once our Annual Report on Form 10-K is on file, we will provide further detail on how sales have progressed throughout 2021. At our current monthly sales level, we are on the cusp of being break even as an operation. With the anticipated cost savings from the manufacturing move to our facility in Eden Prairie, MN, as well as lowering outside consulting expenses as we normalize the cost structure, then our ability to profitably scale the business should be enhanced. We plan to hold a conference call to review our annual and quarterly financial results after their release,” stated Kevin A. Richardson CEO & Chairman.
SAFE HARBOR
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) trends affecting the Company's financial condition or results of operations; (ii) the Company's growth and operating strategy; and (iii) the ability of the Company to file its periodic financial reports with the SEC. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in forward-looking statements resulting from various factors.
About SANUWAVE Health
SANUWAVE Health is focused on the research, development, and commercialization of its patented, Energy First non-invasive and biological response-activating medical systems for the repair and regeneration of skin, musculoskeletal tissue, and vascular structures.
SANUWAVE’s end-to-end wound care portfolio of regenerative medicine products and product candidates help restore the body’s normal healing processes. SANUWAVE applies and researches its patented energy transfer technologies in wound healing, orthopedic/spine, plastic/cosmetic and cardiac/endovascular conditions. For more information, please visit. www.SANUWAVE.com.
Investor Relations Contact
Brian M. Prenoveau, CFA
Managing Director
MZ Group - MZ North America
(561) 489-5315
SNWV@mzgroup.us
www.mzgroup.us
FAQ
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