Rafina's Subsidiary C-Pharm Ltd Revenues for First Quarter 2021 $1.7 Million

Rhea-AI Summary

Rafina Innovations (OTC PINK: VICA) reported Q1 2021 revenues of $1.7 million, a significant increase from $700,000 in Q1 2020. The company attributes this growth to new business strategies and geographical expansion amidst the pandemic. CEO highlighted the opportunity to introduce additional products to C-Pharm's existing customer base and expand into Europe-Asia markets. Rafina focuses on innovative solutions in prosthetics, orthotics, and diabetes, positioning itself for robust growth with a strong pipeline of technologies.

Positive

• Revenue increased from $700,000 in Q1 2020 to $1.7 million in Q1 2021.
• Expansion into new territories and product offerings boosts growth potential.
• The unique business model allows for the introduction of additional products to existing customer base.

Negative

• None.

Nicosia, Cyprus, May 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Rafina Innovations Inc. (OTC PINK: VICA), a Medical and Pharmaceutical development company, is pleased to announce C-Pharm's 1st Quarter -31 March, 2021- revenues for 2021 are $1.7 Million US dollars.

Rafina's CEO stated, "Over a year into the pandemic, C-Pharm managed to increase its revenues from $700,000 within the first quarter of 2020 to $1.7 million in the first quarter of 2021, by acquiring new business strategies, expanding in new territories and creating new opportunities during difficult times. We have significantly increased our distribution and sale in pharmaceutical products throughout Europe. The next goal is to expand further into the Europe – Asia territories."

C-Pharm's unique business model allows Rafina to introduce its other suite of products to existing C-Pharm customers and industries. This is a massive opportunity for Rafina Innovations, Inc. to expand its businesses and create a global hub for medical supplies in addition to PPE and other related products and companies. 

About Rafina Innovations Inc.

Rafina Innovations Inc. is a development capital investment opportunity in the high growth / high margin prosthetics, orthotics, rehabilitation, and diabetes markets. It benefits from a market leading footing from which to expand and seeks to invest in a synergistic business model of Rafina Innovations Clinics and new technology development, with an out-licensing model. The company has a strong pipeline of near-market to research-stage technologies, developed by a team that includes world-renowned experts in their field, each committed to the company on an on-going basis.

The Rafina Innovations Clinics can be early adopters of the technologies and provide the springboard for further innovation, as well as opportunities for lower-cost clinical trials. This synergistic model will allow the company to sustain high margins and accelerate revenue growth as both the number of clinics and products grow.

About C-Pharm Ltd

C-PHARM is a leading distributor for medical supplies and equipment striving to supply the world with everything needed. High Standards, Affordable Packages, Private Agreements, top quality and support are some of the words that define us, as a Company.

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as VICA, Rafina Innovations or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward- looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

Please visit: 

https:

https:www.vicahub.com/ 

https://c-pharm.org/

Forward Looking Statements 

This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements, including but not limited to future developments in the areas of athletic shoes and the information and performance of the Company's technology in such applications. Because the statements are forward-looking, they should be evaluated considering important risk factors and uncertainties, some of which are described in the Company's Quarterly, Annual and Current Reports filed with the OTC. Should one or more of these risks or uncertainties materialize or should any of the Company's underlying assumptions prove correct, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Company's forward-looking statements. In particular, the Company has acquired its first operational Prosthetics & Orthotics (P&O) clinic and is continuing development efforts for its other biomedical technologies, including a "smart insole" and its Flexisense™ sensing technology with several potential applications. There is no assurance that the Company will be successful in its ongoing expansion and development efforts, or that it will find suitable commercialization partners for its technologies. Except as required by law, Rafina Innovations Inc. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Rafina Innovations files from time to time with the OTC, including its Annual, Quarterly and Current Reports.

For Investors Relations:

Website: www.vicahub.com

www.rafina-innovations.com

Email: info@rafinainnovations.com

SOURCE: Rafina Innovations Inc.

FAQ

What are Rafina Innovations' Q1 2021 revenues for VICA?

Rafina Innovations reported Q1 2021 revenues of $1.7 million, compared to $700,000 in Q1 2020.

How did Rafina Innovations increase its revenues during the pandemic?

Rafina Innovations increased revenues by acquiring new business strategies and expanding to new territories.

What is Rafina Innovations' future goal for market expansion?

Rafina aims to expand further into the Europe-Asia territories with its product offerings.

What market sectors does Rafina Innovations focus on?

Rafina focuses on high growth sectors including prosthetics, orthotics, rehabilitation, and diabetes markets.

What opportunities does Rafina seek with C-Pharm's business model?

Rafina seeks to create a global hub for medical supplies and expand its business through C-Pharm's unique distribution model.