HealthSpace Announces Two Additional Washington Clients and Grants Incentive Stock Options and Restricted Stock Units
VANCOUVER, BC / TheNewswire / November 24, 2016 – HealthSpace Data Systems Ltd. (the “Company” or “HealthSpace”) is pleased to announce two new clients from the state of Washington. Clallam County Health & Human Services Department as well as Grant County Health District have signed contracts with HealthSpace in which the Company will provide its Environmental Health System for health protection and regulatory enforcement in both of those communities. Clallam County is located on the Olympic Peninsula and the county seat is Port Angeles. Grant County Health District provides services to the residents of Grant County and is headquartered in Moses Lake, WA.
HealthSpace President, Joseph Willmott commented, “we are pleas e to welcome these organizations to our growing client list and we look forward to working with them.”
The Company also announces that it has granted stock options and restricted stock units to directors, officers, employees and consultants of the Company. The stock options granted allow the optionees the ability to purchase a total of 3,550,000 common shares of the company at an exercise price of .08 cents per share for a five-year term expiring November 24, 2021. The restricted stock units granted allow the recipients the ability to purchase a total of 1,200,000 common shares of the Company for a five-year term expiring November 24, 2021 subject to certain milestones of the Company.
About HealthSpace Data Systems Ltd.
HealthSpace is an industry leader providing inspection, information and communication management systems for federal, state, county and municipal governments. Over the last decade the Company has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. Clients range in size from small county organizations to state-wide systems with over 910 concurrent users, as well as national programs. HealthSpace specializes in the field of developing, installing, and maintaining inspection and regulatory management systems for environmental and public health organizations.
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information please contact:
Ali Hakimzadeh, Chairman
ali@sequoiapartners.ca
604-682-4600
Peter J. Kletas
PJK & Associates Inc.
866-999-6251-Toll Free
Copyright (c) 2016 TheNewswire – All rights reserved.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Bio technology, Health Space, News Home
Tetra Bio-Pharma (TBP.C) Provides USA Regulatory Update for its Cannabis Inhalation Product
Tetra Bio-Pharma Provides USA Regulatory Update for its Cannabis Inhalation Product PPP001
– Momentum Public Relations –
Press Release: November 23, 2016
PhytoPain Pharma Inc. (“PPP“), a subsidiary of Tetra Bio-Pharma Inc. (“Tetra” or the “Company“) (CSE:TBP) (CSE:TBP.CN) (OTC PINK:GRPOF), is a pharmaceutical company focused on developing and commercializing therapeutic cannabis-based products for the treatment of pain and other medical conditions announces that the development of its smoked marijuana prescription drug is on schedule.
The Company confirmed that, on November 8, 2016, it received a letter from the Office of Combination Products stating that the USA Food and Drug Administration (“FDA“) had completed its review of the request for designation for the marijuana prescription drug and titanium pipe kit. The FDA confirmed that the product is a combination product, and assigned it to the Center for Drug Evaluation and Research (“CDER“) as the lead agency center for premarket review and regulation based on FDA’s determination of the marijuana product’s primary mode of action.
The Company previously announced that it received a pre-IND (Investigational New Drug) acknowledgement and meeting request granted letter from the US FDA. This week, the company is submitting the information package required by FDA for the Type B pre-IND meeting in January 2017 with the Division of Anesthesia, Analgesia, and Addiction Products, Center for Drug Evaluation and Research. According to Dr. G. Chamberland, Chief Science Officer, “As per FDA policies, the pre-IND information package is submitted to obtain guidance from FDA on the product development and marketing requirements for the smoked marijuana prescription drug combination product”. Dr. Chamberland further commented that this regulatory filing is part of PPP’s dedication to the commercialization of marijuana as a prescription controlled drug and the corporation’s plan to seek reimbursement by insurers for patients.
The Company has been working with Algorithme Pharma, an Altasciences company, for the conduct of its Phase I clinical trial in healthy human subjects. PPP is using the services of Algorithme Pharma based on its experience and expertise in the conduct of clinical trials for the pharmaceutical industry. Later this week the project team will be submitting the Phase I clinical protocol, and related documents, to the Institutional Review Board for review. If approved, Algorithme Pharma will subsequently submit the Clinical Trial Application to the Therapeutic Products Directorate of Health Canada for approval. In parallel, Algorithme Pharma will submit an application for exemption under section 56 of the Controlled Drugs and Substances Act for its planned research on healthy subjects.
The Company stated that, subsequent to a request for classification to the Medical Devices Bureau, Health Canada, the PPP001-titanium pipe that will be used in the clinical trial is a Class I medical device. Dr. Chamberland commented: “As a Class I medical device, the PPP001-titanium pipe does not require approval for use in the clinical trial”.
About PPP001-kit product
PPP001-kit product will be sold as two separate products packaged together in a single package and is comprised of the drug PPP001 and the device PPP001-titanium pipe. The drug component and device component will be linked together by the labelling of each component.
The product PPP001-kit, once approved, could be sold in pharmacies containing the prescription controlled drug PPP001, in a blister pack, and the PPP-titanium pipe device that will be used to generate the smoke to deliver the active ingredients by inhalation.
PPP001 drug pellet blisters and a fully assembled PPP-titanium pipe for combustion and inhalation of the generated smoke are required for therapy with PPP001 and are provided in the PPP001-kit.
Each blister of PPP001 drug pellet contains marijuana with a standardized amount of delta-9-tetrahydrocannibinol and cannibidiol. A single PPP001 drug pellet is pushed out of the blister by the patient and inserted into the PPP-titanium pipe.
In Other News:
The Company has received $227,738 in exercised warrants for November 2016.
- Published in Bio technology, News Home, Tetra Bio Pharma
HealthSpace Data Systems Ltd. Announces Renewal of Lane County Contract and Appoints Zula Kropivnitski as CFO
Vancouver, BC / TheNewswire / November 14, 2016 – HealthSpace Data Systems Ltd. (the “Company” or “HealthSpace”) is pleased to announce the one year renewal of its contract with Lane County, Oregon valued at USD$110,616.
“We are very pleased that due to the success in Lane County it has renewed its contract with HealthSpace. The system is being implemented in surrounding counties as part of this project and so far, the system has been implemented in nine additional counties in the State of Oregon and that will only continue to grow,” commented Maureen Garrison, COO of the Company.
The Company also announces the appointment of Ms. Zula Kropivnitski as Chief Financial Officer, effective today.
Ms. Kropivnitski is a certified general accountant with over 10 years of experience in financial reporting, regulatory compliance, internal control and corporate finance. Ms. Kropivnitski is CFO of Planet Mining Exploration, LexaGene Holdings Inc., former CFO of Electric Metals Inc. and Iron Tank Resources Corp, companies with a combined market capitalization approaching $80 million. She is also a former controller of African Queen Mines and Sacre-Coeur Minerals.
Joseph Willmott, President of HealthSpace, commented, ” We are delighted to welcome Zula to the management team at Healthspace. She is a seasoned financial executive and will be a valuable addition to our team.”
Mr. Conrad Krebs will be stepping down as CFO. The Company thanks Mr. Krebs for his services.
About HealthSpace Data Systems Ltd.
HealthSpace is an industry leader providing inspection, information and communication management systems for federal, state, county and municipal governments. Over the last decade the Company has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. Clients range in size from small county organizations to state-wide systems with over 910 concurrent users, as well as national programs. HealthSpace specializes in the field of developing, installing, and maintaining inspection and regulatory management systems for environmental and public health organizations.
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information please contact:
Ali Hakimzadeh, Chairman
ali@sequoiapartners.ca
604-682-4600
Peter J. Kletas
PJK & Associates Inc.
866-999-6251-Toll Free
Copyright (c) 2016 TheNewswire – All rights reserved.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Bio technology, Health Space, News Home
HealthSpace Announces Renewal of Agreement with Health Canada
VANCOUVER, BC / TheNewswire / November 7, 2016 – HealthSpace Data Systems Ltd. (the “Company” or “HealthSpace”) is pleased to announce the renewal of its software and service agreement with Health Canada for a period of one year, worth $168,000. The agreement includes an option to extend an additional two years. If the extension occurs the agreement will exceed a total of $ 500,000.
Healthspace will be responsible for providing data collection systems to track environmental conditions on First Nations communities across Canada and in the far north. The company will also provide tracking software for the First Nations Health Authority in British Columbia.
“We are honoured that Health Canada has entrusted our company to work with them and the First Nations community and believe that our software will enhance their efficiency and quality of work,” commented Joseph Willmott, President of the Company.
About HealthSpace Data Systems Ltd.
HealthSpace is an industry leader providing inspection, information and communication management systems for federal, state, county and municipal governments. Over the last decade the Company has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. Clients range in size from small county organizations to state-wide systems with over 910 concurrent users, as well as national programs. HealthSpace specializes in the field of developing, installing, and maintaining inspection and regulatory management systems for environmental and public health organizations.
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information please contact:
Ali Hakimzadeh, Chairman
ali@sequoiapartners.ca
604-682-4600
Peter J. Kletas
PJK & Associates Inc.
866-999-6251-Toll Free
Copyright (c) 2016 TheNewswire – All rights reserved.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Bio technology, Health Space, News Home
HealthSpace Data Systems Ltd. Announces Management and Director Updates 01.11.16
Vancouver, BC / TheNewswire / November 1, 2016 – HealthSpace Data Systems Ltd. (the “Company” or “HealthSp ace”) is pleased to announce the appointment of Mr. Peter Smyrniotis as Chief Executive Officer.
Mr. Smyrniotis is a commercialization professional, technology advisor & entrepreneur-in-residence with Victory Square Labs and the Hillcore Group. He has 25 years’ experience in the technology industry, having developed skills, competencies and expertise in a number of areas and industries, including manufacturing, automotive, gaming, software, hardware, enterprise, e-commerce, payment processing, robotics, and augmented reality. Mr. Smyrniotis has worked with both private and public companies providing business development, strategic sales, channel & partnership and cloud brokerage strategic planning and execution. Further, he is actively involved in Mentorship with Canadian start-ups and youth entrepreneurship contributing the to the next generation successful business leaders.
Mr. Smyrniotis attended the University of Toronto during his undergraduate degree and completed a specialization in Information Technology from Royal Roads University.
Mr. Smyrniotis will step down from his position as Chief Commercialization Officer with the Company so that he can focus his time on his new role as CEO.
“Peter has been doing an excellent job as CCO of the Company and with his abundance of experience he is the perfect fit for the position. I am thrilled to pass the position on to Peter and believe he will excel as CEO and that the company will flourish under his leadership” commented Warwick Smith, outgoing CEO of the Company.
Peter Smyrniotis, CEO at HealthSpace, commented, “I am very pleased to be taking on the CEO role at Healthspace and believe that the company is well positioned for significant growth in the coming year and beyond. In 2016 HealthSpace successfully transitioned from an enterprise software service provider to a technology enabled SaaS venture that offers a best-in-class suite of tools to enable government and commercial enterprise organizations to effect governance and make a real impact on its citizens and employees. HealthSpace is actively selling its SaaS solution to government and commercial organizations, and the preliminary feedback to our demos and proposals has been overwhelming positive. For the balance of 2016 we anticipate continued sales of the new HS Cloud Suite SaaS and initial uptake of the HSData as a service product. I am excited about the future at HealthSpace and believe that we are going to deliver significant value to our customers and share-holders.”
Mr. Warwick Smith will be stepping down as CEO and a director of the Board, however, will remain with the Company in an advisory position. “As a board we would like to take the opportunity to thank Warwick for his contributions to HealthSpace. We are pleased he will remain involved as an advisor as we continue to build the Company.” Commented Ali Hakimzadeh, Chairman of the Board.
About HealthSpace Data Systems Ltd.
HealthSpace is an industry leader providing inspection, information and communication management systems for federal, state, county and municipal governments. Over the last decade the Company has successfully developed both enterprise and mobile internet-based applications currently serving over 300 state and local government organizations across North America. Clients range in size from small county organizations to state-wide systems with over 910 concurrent users, as well as national programs. HealthSpace specializes in the field of developing, installing, and maintaining inspection and regulatory management systems for environmental and public health organizations.
Forward-Looking Statements
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although HealthSpace believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. HealthSpace expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
For more information please contact:
Peter J. Kletas
PJK & Associates Inc.
866-999-6251-Toll Free
Copyright (c) 2016 TheNewswire – All rights reserved.
© 2017 Canjex Publishing Ltd. All rights reserved.
- Published in Bio technology, Health Space, News Home
Relevium Technologies (RLV:tsxv) Provides Corporate Update
Relevium Technologies (RLV:tsxv) Provides Corporate Update
– Momentum Public Relations –
Press Release: Sept. 27, 2016
Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the “Company” or “Relevium”) is pleased to provide the following corporate update on its ongoing activities.
UPDATE ON PRIVATE PLACEMENT
As announced on August 19, 2016, the Company closed a private placement and issued an aggregate of 5,058,000 units of the Company (the “Units”), at a price of $0.10 per Unit, for gross proceeds of $505,800 to the Company (the “Private Placement”). As previously announced, on July 6, 2016, a portion of the private placement representing 1,500,000 Units required the approval by the shareholders of Maestro Capital Corporation (the subscriber). The Company is pleased to confirm that the shareholders of Maestro approved the investment as at August 31, 2016. The TSX Venture Exchange is currently holding the subscription funds from Maestro and the corresponding units in trust pending receipt of final approval.
UPDATE ON BUSINESS ACTIVITIES
The Company is pleased to inform shareholders that it continues to pursue acquisition targets in the lucrative and largely fragmented wellness and wellness e-commerce industries. Management is currently engaged in discussions with several strategic acquisition targets in the spaces.
In the case of the most advanced target, the Company has retained the accounting firm Ernst & Young LLP in Montreal to start a financial and structuring due diligence process. At the current time there is no binding agreement between the Company and the aforementioned target.
The Company believes that pursuing a disciplined acquisition strategy is the best way to grow its business and create long-term value for shareholders.
Andre Godin, Chairman and Leena Lakdawala, CEO explained: “We want to make sure our shareholders develop a clear picture of the Company’s bricks and clicks strategy and overall direction. For this reason Relevium will be structured to operate two separate business units: Relevium Wellness, which will operate a network of innovative wellness clinics and Relevium E-tail, which will operate successful and profitable E-Commerce platforms.”
UPDATE ON LETTER OF INTENT
Pursuant to an announcement made on May 19, 2016 that stated that the Company had executed a letter of intent (the “LOI”) to acquire a controlling interest and progressively 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of a Montreal-based B2B distribution and D2C E-retail company. The Company announced today that due to lack of strategic fit, the parties are no longer pursuing the transaction and have mutually decided to terminate the LOI.
About Relevium Technologies Inc.
Relevium is a TSXV listed company focused on growth through the acquisition of businesses, products and/or technologies within the scope of the expanding health and wellness sector, specifically under three important verticals: Pain Relief, Recovery and Performance. Relevium Technologies Inc. currently holds patented intellectual property for application of static magnetic fields on direct-to-consumer devices, which aid in decreasing pain, improving recovery time and enhancing overall physical performance.
- Published in Bio technology, News Home, Relevium Technologies, Technology
The Holy Grail of Skin Whitening Products – Expert Panel Discussion with Sirona Biochem
Sirona Biochem – The Holy Grail of Skin Whitening Products
– Momentum Public Relations –
September 22, 2016
Sirona Biochem (SBM:tsxv) is a proactive development and discovery stage based biotech firm with an R&D lab situated in Paris, France. The biotechnology enterprise is headquartered in Vancouver, British Columbia in Canada, and is world renowned for its state of the art fluorination chemistry technology. Their cutting edge platform is currently used to create cosmetic products that are both safe and effective for human use and consumption, as well as a plethora of pharmaceutical drugs.
Moreover, their leading edge compounds are either acquired by or licensed by multinational conglomerates in return for royalties, milestone payments, and/or marked upfront payments. It should also be noted that their platform focuses on the molecular stabilization of carbohydrates; which is noteworthy because carbohydrate based drugs are one of the most commonly prescribed drug families in the United States.
Notably, Sirona is currently working on what would be a company changing deal to license their newest compound, ‘Skin Lightener SBM-TFC-1067’. Globally, there is a growing trend for lighter skin in many parts of the world. Approximately 15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the world population invests in skin lightening products and the global market is expected to reach US$23 billion by 2020. Below is an excerpt from a recent CEO update explaining how they have a product that has garnered them serious interest from some of the world’s largest cosmetic / pharmaceutical companies.
Skin Lightener SBM-TFC-1067
SBM-TFC-1067 continues to attract the interest of global cosmetic companies, a list which continues to grow. A number of these companies completed material transfer agreements allowing them to test the compound in their facilities. We successfully scaled-up and produced over 1 kg of compound. In parallel, we completed independent testing in a 3D melanocyte model that mimics human skin. The results showed a strong skin lightener at low dosing without signs of toxicity. As this model is used by our potential partners to assess compounds, the study was key to obtaining independent results and improving our negotiating position. (view full CEO Update)
In addition, Sirona Biochem currently has two licensing agreements with two multi-billion dollar companies; namely Valeant Pharmaceuticals International (VRX:tsx) and Wanbang Biopharma.
The Annual General Meeting (AGM) was held yesterday in Vancouver, BC. Investors were clearly happy with what they heard. The stock price traded up on good volume. Management was very enthusiastic and are confident in their negotiations to secure a licensing deal with a global corporation for the Skin Lightening compound. For understandable reasons Management could not disclose details of their private discussions with the interested purchaser(s), however, the general consensus with investors is that Sirona (SBM:tsxv) is a Buy or at least a very enthusiastic hold.
The video below which was recently released will give you an in-depth look at this market and Sirona’s role in it. Spoiler Alert: First Berlin analyst Ellis Acklin explains their current price target of 98 cents for SBM. That’s a price target that excludes the potential SBM-TFC-1067 licensing deal. Keep in mind that as of today Sirona is only trading at 20 cents CND.
The Holy Grail of Skin Whitening Products – Expert Panel Discussion with Sirona Biochem
This message does not constitute investment advice. Momentum PR provides this material for convenience and information purposes only.
- Published in Bio technology, Blog, Sirona Biochem
Relevium Technologies (RLV.V) Announces Closing of Private Placement
Relevium Technologies (RLV.V) Announces Closing of Private Placement
– Momentum Public Relations –
Press Release: August 19, 2016
Relevium Technologies Inc. (TSX VENTURE:RLV)(FRANKFURT:6BX) (the “Company” or “Relevium”) is pleased to announce that it has completed closing of its previously announced private placement.
The Company has issued an aggregate amount of 5,058,000 units of the Company (the “Units”) at a price of $0.10 per Unit, for gross proceeds of $505,800 to the Company (the “Private Placement”). Each Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant entitling the holder thereof to purchase one Common Share at a price of $0.15 until August 19, 2019. Each Unit will be subject to a statutory hold period of four months and one day from the date of closing.
The Company will use the proceeds from the Private Placement for general corporate purposes.
The Private Placement is subject to the final approval of the TSX Venture Exchange (“TSXV”) as well as other customary closing conditions. Pursuant to an announcement made on July 6, 2016, a portion of the private placement representing 1,500,000 units is further subject to the approval by the shareholders of Maestro Capital Corporation (the subscriber) and the funds will be held in trust until such approval takes place on or before August 31, 2016.
In connection with the Private Placement, the Company paid finder fees in the amount of $2,000 in cash plus 20,000 in Broker Warrants.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities of 1933, as amended, or any state securities laws and may not be offered or sold within the United States, unless an exemption from such registration is available.
About Relevium Technologies Inc.
Relevium is a TSXV listed company focused on growth through the acquisition of businesses, products and/or technologies within the scope of the expanding health and wellness sector, specifically under three important verticals: Pain Relief, Recovery and Performance. Relevium Technologies Inc. currently holds patented intellectual property for application of static magnetic fields on direct-to-consumer devices, which aid in decreasing pain, improving recovery time and enhancing overall physical performance.
- Published in Bio technology, News Home, Relevium Technologies, Technology
Namaste (N:CSE) Increases Site Traffic by 531 From April to July
Namaste (N:CSE) Increases Site Traffic by 531{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} From April to July
– Momentum Public Relations –
Press Release: August 17, 2016
Namaste Technologies Inc. (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) (“Namaste” or the “Company”) has increased its site traffic from 42,353 in April to 267,144 in July, an increase of 531{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} as a result of the acquisition of Vaporseller and enhanced digital marketing strategies. Based on this current trajectory, Namaste is on track to achieve its near term goal of becoming the largest retail e-commerce company focused on the international distribution of vaporizers and accessories through selective acquisitions and organic growth.
Sean Dollinger, President and CEO of Namaste, comments: “Almost exactly one year ago, we started the process of transforming Namaste into a public company with the objective of utilizing our ecommerce, engineering and financial skills to capture significant vaporizer market share. With our acquisition of Vaporseller and our investment in technology, the Company is now in position to become the leading industry consolidator. I am also happy to report that our TSX Venture Exchange listing application is being submitted to the exchange within the coming weeks.”
E-Commerce
Namaste’s core e-commerce business has been growing steadily and the Company has invested significant resources into improving the domain authority index of its flagship UK websites. As a result, domain authority has increased from 21 to 41, which now places Namaste in the top decile of all vaporizer sites globally based on this important metric. Domain authority is a score (on a 100-point logarithmic scale) developed by Moz, an internationally recognized authority on search engine optimization (“SEO”), that predicts how well a website will rank on search engines.
In addition to improving SEO, Namaste has also completed and launched VASTrader, a marketplace for the trading of previously owned vaporizers, and launched the Groovy Vapes application, an interactive application for the purchasing of vaporizers available in the Google Play and Apple stores. The VASTrader site can be accessed at www.VASTrader.com and the Groovy Vapes application is available on both Apple and Android mobile devices. In this emerging industry, research suggests vape owners own more than one unit over their lifetime, and the trading site facilitates gathering key data points on market activity, while also generating traffic back to Namaste owned domains and keeping brands at the top of mind for all consumers.
TSX Venture Application
Due to investor and advisor feedback, Namaste has been working with legal counsel to prepare and submit a listing application to the TSX Venture Exchange with the objective of listing the Company’s common shares for trading on the exchange. The listing application is near complete and will be submitted in the coming weeks. The listing application will be subject to the review and approval of the TSX Venture Exchange and the Company will update the market on its progress in due course.
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has over 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the links below:
- Published in Bio technology, Life Sciences, Namaste Technologies, News Home, Technology
Namaste Technologies (N:CSE) Announces Third Quarter Financial Results
Namaste Technologies (N:CSE) Announces Third Quarter Financials Results
– Momentum Public Relations –
Press Release: August 3, 2016
Namaste Technologies Inc. (CSE:N)(OTC PINK:NXTTF)(FRANKFURT:M5BQ) (“Namaste” or the “Company”) has reported financial results for the third quarter and nine month period, each ending May 31, 2016. The financial statements and management discussion & analysis for the period can be accessed on SEDAR at www.sedar.com.
During the quarter, the Company focused efforts on transitioning from pay-per-click advertising to inbound organic e-commence growth strategies, which generated Q3 2016 e-commerce revenue of $738,199 and gross profit was $353,361, representing a 47.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gross profit margin. For the nine month period, revenue was $2,611,871 and gross profit was $1,058,154, representing a 40.5{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gross profit margin. For the 2015 fiscal year, the comparable Q3 revenue was $1,087,256 and the comparable revenue for the nine month period was $3,471,420.
Looking forward to the last quarter of 2016 and first half of 2017, the Company anticipates revenue and gross profit to increase significantly due to further traction with its current inbound e-commerce market initiatives, commercialization of the Gurutm, acquisition of VaporSeller, and seasonal increase of sales activities during Black Friday, Cyber Monday and the holiday season.
Third Quarter Financial Highlights
- Revenue of $738,199 represents a 32.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} decline over Q3 2015 and sequential increase of 5.7{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} over Q2 2016. The variance in revenue is indicative of the Company’s transition from expensive pay-per-click advertising to inbound organic e-commence growth strategies which should result in stable revenue performance and decreased advertising spending.
- Gross profit of $353,361 represents a 47.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} gross profit margin for Q3 2016 versus 42.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} for Q3 2015. While gross profit declined versus Q3 2015 by 23.1{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, gross profit sequentially increased by 11.6{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} compared to Q2 2016 and gross profit margin improved from 45.3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} to 47.9{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}. The sequential improvement in margin is indicative of the Company’s increased focus on price controls and more favorable terms from manufacturers.
- Operating costs of $716,855 represent a 97{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} increase over Q3 2015 and a 19.4{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} sequential decrease over Q2 2016. The majority of the increase in operating costs compared to Q3 2015 is due to nonrecurring costs associated with taking the Company public and share-based compensation.
- Pre-tax loss of $363,494 is reflective of the increased operating costs during the period, being primarily due to listing costs and share-based compensation.
Third Quarter Operational Highlights
- Transitioned from pay-per-click advertising to inbound organic e-commence growth strategies focused on domain authority, best-in-class natural rankings, trust of brand growth, client population expansion, and sales conversion optimization. Organic inbound marketing increases the recurring nature of sales and places less dependence of major search engines.
- Maintained #1 brand trust ranking in the vaporizer space, as ranked by Trust Pilot, and achieved approximately a 3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} conversion ratio over the period.
- Entered binding letter of intent for the acquisition of VaporSeller, an e-commerce platform for the distribution of vaporizers and accessories with an unaudited revenue of US$3.4 million in 2015. Subsequent to the quarter ended May 31, 2016, the Company closed the acquisition on July 15, 2016.
- Placed commercial order qualities for the Gurutm, the Company’s first proprietary vaporizer capable of seamlessly vaporizing dry herbs, concentrates and liquids.
Mr. Sean Dollinger, President and CEO of Namaste, comments: “The first nine months of the Company’s fiscal 2016 has been transformational. When I reflect back at the accomplishments of our team over this period, including taking our company public, completing our first external capital raises, securing our first acquisition and implementing long term and sustainable e-commerce marketing strategies, my personal sense of optimism and excitement for the future of Namaste is confirmed. As always, I would like to thank all the stakeholders of Namaste for their support as we continue to move forward with our objective of creating the leading international vaporizer and accessories company globally.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has over 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Director
Sean Dollinger, Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
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