NEW YORK, NY / ACCESSWIRE / August 17, 2020 / Newswire's Value Pack Guided Tour (VP GT) helps agencies reduce the cost and increase the effectiveness of media campaigns through Newswire's Value Pack Guided Tour, which provides flat-rate distribution pricing, no additional costs for add-ons and the added value of a dedicated campaign manager to operate software tools like a media database, media watch, email campaigns, custom media rooms and detailed analytics.

The platform enables C-suite executives to distribute important news to position brands as the economy continues to reopen. The VP GT's filtering options provide agency leaders with a strong competitive advantage in the form of comprehensive, integrated media and marketing communications campaigns. Through this approach, agencies can increase brand awareness and position clients to influence increased sales opportunities, which ultimately leads to closing more business.

The program's transparent, systematic production schedule allows agencies and companies to better plan budgets for PR distribution in order to generate a greater return on investment. This, in turn, allows agencies to leverage their own unique service and create greater value for their clients despite reduced budgets.

"The Value Pack Guided Tour is built for agencies and companies who need to be able to handle multiple clients or launch multiple campaigns," said Charlie Terenzio, Newswire's VP of Earned Media Advantage Business. "The program is extremely flexible in nature, as it includes assistance from the Newswire campaign managers and access to our powerful PR software platform."

PR agencies and marketing firms that require assistance with the implementation of their campaigns are provided dedicated support as a part of the VP GT. Newswire's team of campaign managers frees up time by uploading, formatting, scheduling, and distributing press releases on behalf of VP GT clients and can provide detailed follow-up reports and media alerts as well, saving businesses valuable staff time and resources.

"Our customer satisfaction is rated #1 in the industry because our team of campaign experts are thrilled to help our customers showcase their stories in their respective industries. We help our customers shine since they are the changemakers. Agencies can implement campaigns that generate serious interest for their clients from industry media," said Patrick Santiago, Newswire's VP of Customer Success.

Newswire's Value Pack Guided Tour combines high-tech software with high-touch service to reduce staff costs for businesses, improve effectiveness of campaigns, and enhance competitive strategy so that businesses can make strides in their respective industries.

If your agency or market research firm is in need of powerful campaign management software and a team that can enhance your competitive strategy, navigate to the Value Pack Guided Tour page to learn more.

About Newswire​

Newswire delivers press release and multimedia distribution software and services (SaaS) that empower the Earned Media Advantage: greater brand awareness, increased traffic, greater return on media and marketing communications spend, and the competitive edge. With over a decade of experience, Newswire continues to provide its customers with the ability to deliver the right message to the right audience at the right time through the right medium.​ To learn more about how Newswire can help you, visit http://www.newswire.com.

Contact Information
Charlie Terenzio
VP of Earned Media Advantage Business
Newswire
Office: 813-480-3766
Email: charlie@newswire.com

Related Files
f45d2c9ad001b0c8c12b960d4a2d.pdf

SOURCE: Newswire

ReleaseID: 602006

MOSCOW, RUSSIA / ACCESSWIRE / August 17, 2020 / Inspector Cloud, an AI SaaS company that has been developing a solution that automates the work of merchandisers and sales representatives, has raised a new round of investments from the OKS Group fund, founded by Oleg Polyakov and Kirill Matveev. The total investment amounted to $500,000 USD. The funds are to be used for expansion into the European and Latin American markets.

Inspector Cloud is a Computer Vision SaaS that helps sales reps of CPG companies to check on their shelf KPI through recognition of the goods. Inspector Cloud reduces the time of the merchandiser's visit to the stores, as there is no need to make a manual counting of the goods facings, and it suffices to take several photos. This increases the accuracy of data from retail outlets, saving on the working time of the merchandiser and his supervisor, who also do not need to manually engage in manual counting of goods.

Inspector Cloud has been able to secure some big-name clients, including PepsiCo, Unilever, Nestle, Schwarzkopf, Henkel,PMI etc.

"The crisis is not a reason to pause investments. On the contrary, now it is especially important to support promising Russian developers and give them additional opportunities for development, – says Mark Hanney, managing partner of OKS Group. Regarding the deal – Inspector Cloud is a sustainable company with a strong technology base. We are confident that it will continue to actively grow".

By the end of the first half of 2020, the number of photos processed has already exceeded 30 million, which is a 7x increase compared to 2019. This makes Inspector Cloud one of the fastest-growing Image Recognition startups in retail space.

This is not the first round of investments for Inspector Cloud. In 2017, the company raised $150,000 USD, where "The Untitled ventures" acted as one of the lead investors, and in 2018 – $200,000 USD angel investments were reached at the seed stage. Those funds were used to refine the product development. At the present time, the Inspector Cloud leadership plans on investing into expansion to promising foreign markets.

"First of all, we focus on countries with a relatively large population, in which a significant market share is occupied not by retail chains, but by small convenience stores," comments Alexander Berenov, CEO and founder of Inspector Cloud. "We plan to increase sales in Eastern Europe, Poland in particular, and in Latin America, starting with Brazil."

About the company

Inspector Cloud is a computer vision software developer. The company was founded by Pavel Boyko and Alexander Berenov in 2016, in Moscow. Inspector Cloud is a digital platform that enables the largest FMCG companies to automate performance checks of their sales representatives and merchandisers. Using neural networks, the system recognizes goods on shelves in retail chains and generates reports, measuring quantitative data of on-shelf availability of the goods, its shelf share in comparison to competitors, and other key indicators.

Media Contact
Inspector Cloud
Alexander Berenov, Founder & CEO
www.inspector-cloud.com
berenov@inspector-cloud.com
+7 968 452-17-77

SOURCE: Inspector Cloud

ReleaseID: 602003

CHICO, CA / ACCESSWIRE / August 17, 2020 / AmeraMex International, Inc. (OTCQB:AMMX), a provider of heavy equipment for logistics companies, infrastructure construction and forestry conservation, announced that it has received an equipment order totaling $199,500.

The order is for a refurbished Taylor Machine XH360 forklift with a capacity of 36,000 pounds. The equipment is in inventory and will ship this week to a California-based manufacturing company.

AmeraMex CEO Lee Hamre commented, " The sales team is busy providing proposals and signing orders. Currently, third quarter sales orders total approximately $3.1 million not including a one-year equipment rental of $108,000.

"With the uncertainty of the effect of the COVID-19 virus on our target markets, sales for our first six months were not representative of the Company's internal projections. The team is confident that the second six months of 2020 will be outstanding."

About AmeraMex International

AmeraMex International sells, leases, and rents heavy equipment to companies within multiple industries including construction, logistics, mining, and lumber. AmeraMex, with a US and international customer base, has over 30 years of experience in heavy equipment sales and service. Follow AmeraMex on Twitter @ammx_intl and visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com for additional corporate information, online heavy equipment inventory/ pricing and videos.

Forward-Looking Statements

This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Investor and Media Relations
McCloud Communications, LLC
Marty Tullio, Managing Member
Office: 949.632.1900 or Marty@McCloudCommunications.com

SOURCE: AmeraMex International Inc

ReleaseID: 601953

Sharon Dorram recently donated $1,000 to No Kid Hungry

NEW YORK, NY / ACCESSWIRE / August 17, 2020 / As the COVID-19 pandemic rages on, Sharon Dorram is committed to doing her part to help others. She recently donated $1,000 to the No Kid Hungry organization to help feed children from low income families.

With more than 20 years of experience in the beauty industry under her belt, Sharon Dorram is frequently referred to as "colorist to the stars" and is the owner of Sharon Dorram Color at Sally Hershberger. Sharon was a spokesperson and is now an ambassador for Virtue Labs.

The No Kid Hungry Organization provides food for kids and nutritional programs for families. Through their programs, they give children school breakfasts, summer meals, and afterschool meals.

With the current pandemic, the organization's work has never been more important, says Sharon Dorram.

A recent report released by No Kids Hungry reveals that during the pandemic, 47% of American families are living with hunger and 39% of struggling families are skipping certain bills more often to ensure they have food on the table.

"It is important to help those in need, especially right now," says Sharon Dorram.

"We are facing unprecedented and scary times. We need to do what we can to protect humanity."

For more information, visit https://www.nokidhungry.org/.

About Sharon Dorram

Sharon Dorram has more than 20 years of experience in the beauty industry and is the owner of Sharon Dorram Color at Sally Hershberger. She studied at Bennington College in Vermont, the Fashion Institute of Technology in New York City, and the Winchester School of the Arts in the United Kingdom. In the late 80s, she trained under Louis Licari, a world-famous hair colorist. Throughout her career, Sharon Dorram has been a spokesperson for many hair care product companies. Sharon was a spokesperson and is now an ambassador for Virtue Labs. She has also worked with multinational brands like Matrix and Nexxus. She was named the creative consultant for the John Frieda brand in the late 1990s. Through her work, she has earned the title of "colorist to the stars," by creating beautifully natural color reminiscent of children's hair and having a star-studded roster of clients including Nicole Kidman, Renée Zellweger, Priyanka Chopra, Hillary Swank, Uma Thurman, and many more. In 2009, she collaborated with celebrity stylist Sally Hershberger to open Sharon Dorram Color at Sally Hershberger.

For more information, please visit https://www.sharondorram.com/.

Contact:

Sharon Dorram
212.535.3519
contact@sdsh.com
https://www.linkedin.com/in/sharon-dorram-496b045/

SOURCE: Sharon Dorram

ReleaseID: 601998

TORONTO, ON / ACCESSWIRE / August 17, 2020 / At the age of 24, Avi Grondin had already run 3 businesses – one of which led to an eventual sale, and some into the ground.

Despite these mixed results, about 2 years ago he decided it was time to have another crack. Equipped with a iPhone and an old laptop, the serial entrepreneur hit the phones, and Variance Marketing was born.

"I was working around the clock every single day, making around 200 cold calls a day, just calling any business that wasn't on page one of Google to try and get them on board, offering them SEO work," Grondin tells Yahoo.

Three days later, the marketing agency landed it's first client. Three years later, Variance Marketing has won many awards, with a two-year growth rate of 328% and revenue at the 7-figure mark.

Though the marketing agency is thriving today, it took now 24-year-old Grondin some time to move his business on from working out of his bedroom with a mobile device and laptop.

"I was just working from home, selling by day and doing SEO optimization by night. I was working 15-hour days in the beginning," he says.

However as business began to pick up, Grondin found he was losing clients due to a fairly fundamental flaw in how his business was running: he didn't have an office.

It wasn't until the founder lost a sizeable deal due to his lack of office space did he decide it was about time to "get in gear" and do something bigger.

Today Variance Marketing has over 25 staff across North America and Asia, helping businesses scale revenue through Avi's 5-step sales process. While Grondin puts a lot of this down to "the grind", much of Variance Marketing's success can be attributed to its unique approach to servicing clients.

"I noticed a fundamental issue with many companies out there."

"The issue was not their inability to generate more leads, but rather it was having a proper system in place to actually close those leads into sales predictably. I wanted to dissect companies for their core issues. I wanted to help companies first build a sales process that would actually convert leads to buyers, then I wanted to drive as many sales conversations and inbound sales opportunities from there," he says.

Grondin says the main thing he was tasked with in previous businesses he owned or worked in was the ability to get new customers and generate revenue, a dilemma he says has plagued small businesses for years.

He found other marketing agencies would operate off "fluffy" metrics, and quote high prices without any real guarantee, and decided he'd run things a little differently.

"We have performance guarantees, where if we don't hit our clients KPIs, we don't get paid and we have to work for free until we hit them," he says.

"I did this because a lot of potential clients in the space had usually been with one or two shady agencies and they were sceptical about promises. We were being met with friction over and over again."

"So instead of going against the grain and fighting that resistance, I ran with it, and decided to stick my neck out for my clients."

As for Variance Marketing's significant two-year growth, much of it has been done thanks to the agency practising what it preaches, along with a bit of good old-fashioned word-of-mouth marketing.

"I realized the core issue in most businesses out there, and decided to package a solution for them into a 5-step sales process to help them fix it," he says.

Grondin calls his 5-step sales process "Dealflow", and the technique has now officially helped over 1,000 entrepreneurs across the globe drive relevant utility to their businesses and increase revenue as a result.

"Dealflow is designed to bring in at least 15-30 new qualified sales appointments every week with people who actually want to work with you!" he says.

"The sales process involves giving free value to prospects, nurturing them with emails and retargeting ads over 30-90 days to prime them on your offer, converting them into a sales appointment on your calendar, then closing them with our battle tested sales script,"

Despite his serial entrepreneur past, Grondin thinks Variance Marketing will be a legacy play for him and doesn't see himself selling up and moving on any time soon.

However, he admits he's fallen prey to "shiny object syndrome" in the past.

"When you love building companies, everyone else's business looks more ideal than yours, and they always seem to not have the problems yours does," he says.

"In reality, there are just fundamental challenges all businesses struggle with."

Read more about Avi Grondin's 5-step sales process and read up on the latest of Variance Marketing.

SOURCE: Variance Marketing

ReleaseID: 601074

Major manufacturers in the oncology biosimilars market are largely interested in conducting soft launches including contracts through tele-detailing processes to sustain operations during the pandemic.

ROCKVILLE, MD / ACCESSWIRE / August 17, 2020 / The oncology biosimilars market is projected to exhibit a massive 29.4% CAGR between the forecast duration from 2020 to 2025. The coronavirus crisis is expected to have a negative impact on the oncology biosimilars industry owing to a growing gap in supply and demand. Lockdowns have disrupted operations in supply chain hubs. In addition, demand for oral and subcutaneous drug formulations has gone up despite low patient volume influencing demand.

"Demand for low costs alternatives to conventional, branded cancer treatment formulations is the primary impetus behind the sales of oncology biosimilars. Growing numbers of geriatrics, coupled with sustained degradation of the environment in recent years has resulted in higher numbers of cancer cases, which is contributing to demand for oncology biosimilars," says the FACT.MR study.

Request a sample of the report to gain in-depth market insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=4800

Oncology Biosimilars Market- Key Takeaways

Breast cancer and leukemia treatment applications are highly lucrative for market players, driven by high number of cases, and extensive research investments.
Hospital pharmacies will account for sales of most oncology biosimilar sales, owing to growing hospitalization of cancer patients and access to wider range of medication options.
Europe is proving to be major market for oncology biosimilars, supported by leading cancer research programs.

Oncology Biosimilars Market- Driving Factors

Faster approval of biosimilars by regulatory bodies such as the FDA boost market prospects.
Investments into research for active ingredients in drugs contributed to essential market developments.

Oncology Biosimilars Market- Major Restraints

Continued preference for biologics among patients and healthcare professionals will contribute to hamper sales for oncology biosimilars.
Side effects from switching from an oncology biologic drug to a biosimilar alternative hinders market growth.

COVID-19 Impact on Oncology Biosimilars Market

The coronavirus pandemic has adversely affected the oncology biosimilars market, largely owing to supply chain disruptions in major production hubs such as the U.S., India, and China, during lockdown. Also, healthcare administrative professionals have postponed financial contracting discussions with market players, which will impact how product launches are carried out. Further, significant healthcare resources have been redirected towards handing the covid-19 crisis, which reduces supplies and access to oncology biosimilars.

Explore the global Oncology Biosimilars market with 75 figures, 29 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/4800/oncology-biosimilars-market

Competitive Landscape

Sandoz International GmbH, Celltrion Inc., Teva Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., and Biocon are some of the most prominent participants in the oncology biosimilar market.

Leading players in the oncology biosimilars market have been pushing for new product launches and leveraging faster approval times by regulators, to consolidate their market prospects.

For instance, Teva Pharmaceuticals and Celltrion Healthcare have announced the release of Herzuma, the fourth trastuzumab biosimilar to enter the oncology biosimilars market. Sandoz Canada Inc. has announced regulatory approval of Ziextenzo and Riximyo oncology biosimilars from Health Canada. Further, Pfizer has unveiled 3 monoclonal anti-body oncology biosimilars, Zirabev, Ruxience, and Trazimera for the US market.

About the Report

This study offers readers a comprehensive market forecast of the oncology biosimilars market. Global, regional and country-level analysis of the top industry trends impacting the oncology biosimilars market is covered in this FACT.MR study. The report offers insights on the oncology biosimilars market on the basis of drug class (G-CSF, monoclonal antibody, and hematopoietic agents), disease indication (breast cancer, non-small cell lung cancer, colorectal cancer, neutropenia, blood cancer, and others), and distribution channel (hospital pharmacy, retail pharmacy, and online pharmacy) across four regions (North America, Europe, Asia Pacific, and Rest of the World).

Explore FACT.MR's Comprehensive Coverage of Healthcare Landscape

Blood Cancer Diagnostics Market– Get the latest insights on the global blood cancer diagnostics market through FACT.MR's report covering analysis for projection period (2017-2022).

Lung Cancer Diagnostics Market– FACT.MR's study on the global lung cancer diagnostics market covers trends, tech innovations, players, and strategies for 2017-2022.

Melanoma Cancer Diagnostics Market– Obtain analysis on the global melanoma cancer diagnostics market through FACT.MR's latest report covering competitive analysis, regions, and segment analysis for 2018-2028.

About Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the healthcare sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.

Contact:

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/
PR- https://www.factmr.com/media-release/1569/global-oncology-biosimilars-market

SOURCE: Fact.MR

ReleaseID: 601984

Leading electronic medical records developers are pushing for the implementation of administrative patches to suit emergency preparedness parameters required during the pandemic.

DUBAI, UAE / ACCESSWIRE / August 17, 2020 / Future Market Insights: The electronic medical records (EMR) market is anticipated to display a healthy 5.6% CAGR during the forecast period from 2015 to 2025. The ongoing coronavirus pandemic is positively impacting the industry, as telehealth and healthcare administration applications generate high demand. Research and development activities towards emergency preparedness will support market growth in the near term.

"The global healthcare industry making rapid strides toward digitization of data and operations. Major initiatives by governments, such as the adoption and standardization of electronic medical records, and appropriate training the workers in the healthcare sector will support market growth for the foreseeable future," says the FMI report.

For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-387

Electronic Medical Records – Primary Takeaways

Subscription based web- electronic medical records are gaining popularity among healthcare administrators, owing to the elimination of infrastructure and maintenance costs.
Ambulatory care centers are witnessing rapid growth in the adoption of electronic medical records owing to easier data management for providers and patients.
North America is the primary market for electronic medical records as most hospitals in the region have complied with standardized EMR systems.

Electronic Medical Records – Growth Factors

Widespread implementation of government-run nationwide strategies towards the adoption of EMR supports market growth.
Automation improvements to healthcare administration systems, will generate key opportunities for market growth.

Electronic Medical Records – Major Constraints

Data privacy and security concerns remain a key challenge of EMR developers and market players.
High costs associated to the deployment and maintenance of EMR systems reduce adoption rates.

The Projected Impact of Coronavirus

While electronic medical records have aided healthcare practitioners in better access to patient data and administrative co-ordination, most systems in the industry are no build to work for pandemic conditions. High rates of covi-19 testing have made it important for market players to focus not only on tracking and billing applications, but also on emergency preparedness parameters. As such, the pandemic has generated very lucrative opportunities of development for market players in the short term.

For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/askus/rep-gb-387

Competition Landscape

The electronic medical records market comprises players including but not limited to GE Healthcare, Cerner Corp., Greenway Health LLC, McKesson Corp., NextGen Healthcare Information Systems LLC, Medical Information Technology Inc., and Epic Systems Corp.

Participants in the electronic medical records (EMR) market are pushing for product development and launches to meet requirements of wider ranging healthcare sector applications, generating new revenue streams.

For instance, MediQuant has introduced CommunityArchive, a new ambulatory electronic medical records system, for low cost services. McKesson Corp has unveiled its Augmedix electronic health records charting service aimed primarily towards specialty healthcare practices. Also, Cerner Corp. has collaborated with Veterans Affairs in the United States to build a US$ 16 billion electronic medical records project in Washington.

Request Special Price for this Report to our Sales Executive@ https://www.futuremarketinsights.com/request-special-price/rep-gb-387

More About the Study

The FMI study provides detailed insights on electronic medical records. The market is broken down in terms of product (hospital and ambulatory), end use (hospitals, general physician clinic, specialized clinic, and ambulatory surgical center), component (software and services) and delivery mode (client server, cloud based, and hybrid), across seven key regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA).

Explore Future Market Insights Coverage of the Healthcare, Pharmaceuticals & Medical Devices Industry

Lab Automation Market: Find insights on the global lab automation market with segment analysis, statistics, influencing factors, players and key strategies adopted by market players for a 10-year forecast period.

Lung Cancer Surgery Market: FMI's report on the global lung cancer surgery market offers details on the market between 2019 -2029. The study covers influencers, revenue sources, market leaders, and strategies.

Veterinary Vaccines Market: Get an in-depth analysis on the veterinary vaccines market with insights on growth levers, opportunities, policies, restraints, regional markets and market leaders.

About Future Market Insights

Expert analysis, actionable insights, and strategic recommendations of the experienced research team at FMI helps clients from across the globe with their unique business intelligence requirements. With a repository of more than thousand reports and 1 million+ data points, the team has studied the healthcare, pharmaceuticals, and medical devices sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

Contact

Mr. Abhishek Budholiya

Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

MARKET ACCESS DMCC Initiative

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

Report: https://www.futuremarketinsights.com/reports/electronic-medical-records-market

Press Release Source: https://www.futuremarketinsights.com/press-release/electronic-medical-records-market

SOURCE: Future Market Insights

ReleaseID: 601980

ROSELAND, NJ / ACCESSWIRE / August 17, 2020 / Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today provided a business update and announced financial results for the second quarter and six months ending June 30, 2020.

Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, commented, "As anticipated, the global pandemic had a negative impact on revenue for the second quarter due to reduced hours and closings of dental offices throughout the country and the rest of the world. Nevertheless, we are encouraged by the steady reopening of dental practices in the U.S. and Europe. In the meantime, we have utilized this period to significantly enhance our marketing activities, to better educate dentists on how The Wand® can help dentists rebuild their practice by providing a safer and more pleasant environment for patients and staff. With the recent appointment of Arjan Haverhals as Chief Executive Officer of Wand Dental, Inc., we have enhanced the sales and marketing activities around our dental instrument and are exploring new collaboration and distribution opportunities."

"Our primary focus remains commercialization of the CompuFlo® Epidural System, and we are moving ahead aggressively towards this goal. Although we experienced temporary setbacks due to COVID-19 with hospitals on complete lockdown, I am pleased to report our sales and business development pipeline is expanding. We are in late-stage discussions with a number of premier hospitals in the U.S. Moreover, the CathCheck™ technology has resonated well, given its ability to minimize contact between the patient and provider, which is especially important during the COVID-19 pandemic. Importantly, the CompuFlo® Epidural System is fully validated in terms of safety, efficacy and economics. For these reasons, we are as confident as ever that our technology will become the new standard of care."

"We ended the quarter with over $16.6 million of cash and cash equivalents as of June 30, 2020. As a result, we believe the strength of our balance sheet provides us with a substantial runway to help mitigate the risks related to COVID-19, as well as additional resources to accelerate sales and marketing activities around the CompuFlo Epidural System," concluded Mr. Osser.

For the three months ended June 30, 2020 and 2019, revenues were approximately $167,000 and $2.2 million, respectively. Dental revenues decreased by approximately $2.1 million, due to the impact of the COVID-19 pandemic on the Company's customers, suppliers, vendors, and other business partners. Gross profit for the second quarter ended June 30, 2020 was approximately $112,000, or 67% of revenue, versus approximately $1.5 million, or 68% of revenue for the second quarter ended June 30, 2019. Operating loss for the three months ended June 30, 2020 was approximately $(3.1) million versus $(1.1) million for the three months ending June 30, 2019. The increase in operating loss is due to decreased dental revenue. Net loss for the three months ended June 30, 2020 was approximately $(3.1) million, or $(0.06) per share, versus a net loss $(1.0) million, or $(0.02) per share, in the prior period.

For the six months ended June 30, 2020 and 2019, revenues were approximately $1.9 million and $4.1 million, respectively. Dental revenues decreased by approximately $2.1 million, which is related to decrease in sales of handpieces and devices throughout the country and internationally due to the COVID-19 pandemic. Gross profit for the first six months of 2020 was $1.3 million or 71% of revenue versus $2.8 million or 68% of revenue for the first six months of 2019. Operating loss for the first six months of 2020 was approximately $(4.7) million versus approximately $(1.9) million for the first six months of 2019. Net loss for the first six months of 2020 was $(4.7) million, or $(0.09) per share, versus net loss of $(1.8) million, or $(0.04) per share, for the comparable period in 2019.

Conference Call

Milestone Scientific's executive management team will host a conference call at 8:30 AM Eastern Time on Monday, August 17, 2020 to discuss the Company's financial results for the second quarter ended June 30, 2020, as well as the Company's corporate progress and other developments.

The conference call will be available on the Company's website at www.milestonescientific.com, or via telephone by dialing toll free 877-407-0778 for U.S. callers, or +1 201-689-8565 for international callers. For those unable to participate at that time, a replay of the call will be archived on the company's website or can be accessed by dialing 877-481-4010 for U.S. callers, or +1 919-882-2331 for international callers and entering the pass code 36611. The replay will be available for 90 days.

About Milestone Scientific Inc.

Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone's proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. For more information please visit our website: www.milestonescientific.com.

Safe Harbor Statement

This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues, timing of regulatory approvals and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions, future business decisions and regulatory developments, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2018. The forward-looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

# # #

MILESTONE SCIENTIFIC AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

 
June 30, 2020
 
 
December 31, 2019
 

ASSETS

Current assets:

Cash and cash equivalents

 
$ 
16,610,217
 
 
$ 
1,516,272
 

Accounts receivable, net

 
 
107,286
 
 
 
1,710,665
 

Prepaid expenses and other current assets

 
 
468,919
 
 
 
519,063
 

Inventories, net

 
 
1,852,453
 
 
 
1,620,509
 

Advances on contracts

 
 
842,180
 
 
 
710,662
 

Total current assets

 
 
19,881,055
 
 
 
6,077,171
 

Furniture, fixtures and equipment, net

 
 
30,925
 
 
 
44,976
 

Patents, net

 
 
355,755
 
 
 
382,260
 

Right of use assets

 
 
671,803
 
 
 
15,977
 

Other assets

 
 
24,150
 
 
 
35,905
 

Total assets

 
$ 
20,963,688
 
 
$ 
6,556,289
 

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

 
$ 
461,527
 
 
$ 
1,379,425
 

Accounts payable, related party

 
 
519,393
 
 
 
1,358,752
 

Accrued expenses and other payables

 
 
1,048,006
 
 
 
775,055
 

Accrued expenses, related party

 
 
653,796
 
 
 
1,057,957
 

Current portion of finance leases

 
 
6,108
 
 
 
3,904
 

Current operating lease right-of-use liabilities

 
 
66,682
 
 
 
12,072
 

Note payable

 
 
272,099
 
 
 
–
 

Deferred profit, related party

 
 
340,476
 
 
 
340,476
 

Total current liabilities

 
 
3,368,087
 
 
 
4,927,642
 

Finance lease liabilities, non-current

 
 
32,596
 
 
 
–
 

Operating lease right-of-use liabilities

 
 
594,416
 
 
 
–
 

Total liabilities

 
$ 
3,995,099
 
 
$ 
4,927,642
 

Commitments and contingencies

Stockholders' equity

Common stock, par value $.001; authorized 75,000,000 shares; 63,236,164 shares issued and 63,202,831 shares outstanding as of June 30, 2020; 49,410,176 shares issued and 49,376,843 shares outstanding as of December 31, 2019;

 
$ 
63,236
 
 
$ 
49,410
 

Additional paid in capital

 
 
116,199,595
 
 
 
96,082,324
 

Accumulated deficit

 
 
(98,315,363
)
 
 
(93,524,297
)

Treasury stock, at cost, 33,333 shares

 
 
(911,516
)
 
 
(911,516
)

Total Milestone Scientific Inc. stockholders' equity

 
 
17,035,952
 
 
 
1,695,921
 

Noncontrolling interest

 
 
(67,363
)
 
 
(67,274
)

Total stockholders' equity

 
$ 
16,968,589
 
 
 
1,628,647
 

Total liabilities and stockholders' equity

 
$ 
20,963,688
 
 
$ 
6,556,289
 

MILESTONE SCIENTIFIC AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(UNAUDITED)

 
Three months ended June 30,
 
 
Six months ended June 30,
 

 
2020
 
 
2019
 
 
2020
 
 
2019
 

Product sales, net

 
$ 
167,674
 
 
$ 
2,257,851
 
 
$ 
1,979,060
 
 
$ 
4,173,759
 

Cost of products sold

 
 
55,626
 
 
 
752,183
 
 
 
615,326
 
 
 
1,370,876
 

Gross profit

 
 
112,048
 
 
 
1,505,668
 
 
 
1,363,734
 
 
 
2,802,883
 

Selling, general and administrative expenses

 
 
3,176,768
 
 
 
2,517,970
 
 
 
5,929,580
 
 
 
4,627,023
 

Research and development expenses

 
 
108,170
 
 
 
95,529
 
 
 
215,650
 
 
 
101,875
 

Total operating expenses

 
 
3,284,938
 
 
 
2,613,499
 
 
 
6,145,230
 
 
 
4,728,898
 

Loss from operations

 
 
(3,172,890
)
 
 
(1,107,831
)
 
 
(4,781,496
)
 
 
(1,926,015
)

Interest income fees

 
 
(4,062
)
 
 
(2,375
)
 
 
(8,159
)
 
 
(3,618
)

Change in fair value of derivative liability

 
 
–
 
 
 
12,462
 
 
 
–
 
 
 
52,722
 

Loss before provision for income taxes and net of equity investments

 
 
(3,176,952
)
 
 
(1,097,744
)
 
 
(4,789,655
)
 
 
(1,876,911
)

Provision for income taxes

 
 
(1,250
)
 
 
(14,163
)
 
 
(1,500
)
 
 
(18,627
)

Loss before equity in net earnings (losses) of equity investments

 
 
(3,178,202
)
 
 
(1,111,907
)
 
 
(4,791,155
)
 
 
(1,895,538
)

Earnings from China Joint Venture

 
 
–
 
 
 
(58,664
)
 
 
–
 
 
 
(49,100
)

Net loss

 
 
(3,178,202
)
 
 
(1,053,243
)
 
 
(4,791,155
)
 
 
(1,846,438
)

Net loss attributable to noncontrolling interests

 
 
11,738
 
 
 
11,959
 
 
 
24,476
 
 
 
22,402
 

Net loss attributable to Milestone Scientific Inc.

 
$ 
(3,166,464
)
 
$ 
(1,041,284
)
 
$ 
(4,766,679
)
 
$ 
(1,824,036
)

Net loss per share applicable to common stockholders-

Basic

 
$ 
(0.06
)
 
$ 
(0.02
)
 
$ 
(0.09
)
 
$ 
(0.04
)

Diluted

 
$ 
(0.06
)
 
$ 
(0.02
)
 
$ 
(0.09
)
 
$ 
(0.04
)

Weighted average shares outstanding and to be issued-

Basic

 
 
56,694,793
 
 
 
45,366,237
 
 
 
51,728,806
 
 
 
41,904,581
 

Diluted

 
 
56,694,793
 
 
 
45,366,237
 
 
 
51,728,806
 
 
 
41,904,581
 

SOURCE: Milestone Scientific, Inc.

ReleaseID: 601881