Electromedical Technologies, Inc. Secures a $1 Million Investment
SCOTTSDALE, Ariz., July 23, 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 an investment agreement for an aggregate $1 million investment to accelerate corporate expansion and product development.
Mr. Matthew Wolfson, the Company’s CEO, commented on the investment agreement, structured to occur in three separate traunches: “This capital infusion will help the Company accelerate the process of replenishing our much needed inventory to meet the pent up demand for our WellnessPro® product. We have ordered more than 1000 units, including accessories, which represent an estimated $3.5 million in potential revenues to the company. In addition, it will greatly help expand our marketing efforts; allows us to add new strategic board members; hire internal support; and, ultimately up list our stock to a recognized exchange to help bring awareness to the Company and its WellnessPro products.”Commenting further, Mr. Wolfson said, “Our product roadmap is clear and will include improvements to existing technology, research and development of new technology, new product releases, as well as the company’s focus on localizing manufacturing 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.”Over 100 Million Americans suffer from some kind of acute or chronic pain. Almost all orders of our WellnessPro® product come from new buyers, proving that people are seeking safer and healthier alternatives to burdensome pain medications that can have adverse side effects on people’s health. Especially now during this pandemic.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
Mr. Matthew Wolfson, the Company’s CEO, commented on the investment agreement, structured to occur in three separate traunches: “This capital infusion will help the Company accelerate the process of replenishing our much needed inventory to meet the pent up demand for our WellnessPro® product. We have ordered more than 1000 units, including accessories, which represent an estimated $3.5 million in potential revenues to the company. In addition, it will greatly help expand our marketing efforts; allows us to add new strategic board members; hire internal support; and, ultimately up list our stock to a recognized exchange to help bring awareness to the Company and its WellnessPro products.”Commenting further, Mr. Wolfson said, “Our product roadmap is clear and will include improvements to existing technology, research and development of new technology, new product releases, as well as the company’s focus on localizing manufacturing 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.”Over 100 Million Americans suffer from some kind of acute or chronic pain. Almost all orders of our WellnessPro® product come from new buyers, proving that people are seeking safer and healthier alternatives to burdensome pain medications that can have adverse side effects on people’s health. Especially now during this pandemic.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
