Electromedical Technologies, Inc. Announces 22% Increase in First Quarter Revenues Over the Same Period the Previous Year

Written by Customer Service on July 9, 2020. Posted in Earnings Releases And Operating Results.

SCOTTSDALE, Ariz., July 09, 2020 (GLOBE NEWSWIRE) — Electromedical Technologies, Inc. (OTC: ELCQ) (the “Company”), developer and manufacturer of the WellnessPro®, an FDA cleared bioelectronic device designed to relieve chronic, intractable and acute pain, is pleased to announce a 22% increase in its first quarter 2020 revenues over the same period in 2019. In addition, the company narrowed their loss by more than 44%.Matthew Wolfson, CEO of ELCQ, commented, “Q1 2020 represents a turning point for Electromedical Technologies, where we demonstrated strong organic demand for our WellnessPro® product. We believe that many people suffering from chronic, acute and intractable pain, have sought out pain relief alternatives while sheltering in place due to the COVID-19 pandemic. Our WellnessPro® product provides the kind of in-home bioelectronic therapy that can help in this trying time, and we believe that our users share their results with friends, family and colleagues, causing increased sales.”Mr. Wolfson continued, “Amazingly our increase in Q1 revenue was accomplished without any additional advertising.  As more and more people use our products and share the powerful results they experience with their social networks, this organically creates more market awareness that we believe will continue to increase sales and revenues.  We believe the trend of holistic and natural treatments at home will continue for years to come.“Our pace of execution has also improved significantly. As a result, we sold out of this year’s production run, and are in the process of replenishing our much needed inventory to meet the pent up demand for our WellnessPro® product. Nearly all orders came from new buyers, proving that people are seeking safer and healthier alternatives to pain medications that can have adverse side effects on people’s health. Nearly 100 million Americans suffer from some kind of acute or chronic pain.”Mr. Wolfson went on to say, “Our Form S-1 registration is pending with the Securities and Exchange Commission. The company plans to raise capital, expand marketing efforts, add new strategic board members, hire internal support and up list to a designated exchange to help bring awareness to WellnessPro products.”Finally, Mr. Wolfson said, “Q1 was pacing to be the strongest quarter of sales deliveries until our operations were interrupted in February through March. Since we sold out of all of our inventory early this year, and GAAP accounting records revenue when the product is shipped (not just sold), some of our Q1 revenue will be reflected in our Q2 numbers. “Our product roadmap includes improvements in technology, research expansion, new product releases as well as the companies refocus on localizing production in the US. We believe we are well positioned as a healthcare company to be able to help many people while we continue to achieve our long-term plans to increase shareholder value.”About Electromedical Technologies:Headquartered in Scottsdale, Arizona, Electromedical Technologies, Inc. is a commercial stage bioelectronic medical device manufacturing company initially focused on the treatment of various chronic, acute, intractable and post-operative pain conditions. Through university collaboration agreements the company is working to develop a comprehensive research program in defining the effects of electro-modulation on the human body by studying the impacts of electrical fields in cell signaling and effects on virus assembly and immune responses with the goal of improving human wellbeing. The company’s current cleared product indications are for chronic acute post traumatic and post-operative, intractable pain relief.Nonhuman preliminary studies that we are planning to start in near future and such applications are not related to our current product in any way and currently not cleared in the US.For more information, visit https://electromedtech.comSafe Harbor Statement:This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like “may,” “will,” “should,” “could,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” or “project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.Electromedical Technologies, Inc.
Matthew Wolfson
Tel: 1.888.880.7888
email: ceo@electromedtech.com
https://electromedtech.com

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