SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Electromedical Technologies, Inc. (OTC: ELCQ) (the “Company”), a pioneer in the development and manufacturing of bioelectronic devices, including the WellnessPro®, designed to relieve chronic, intractable and acute pains by using frequencies and electro-modulation, is pleased to provide a forecast for expected first quarter performance for 2020.
The Company’s CEO, Matthew Wolfson, commented: “As people around the world continue to grapple with economic uncertainties and the humanitarian crisis brought on by the ongoing COVID-19 pandemic, the Company’s informal review of its first quarter 2020 sales figures indicate promising growth as compared to the same period in 2019. The Company is encouraged by its preliminary sales data, and will provide a more detailed report and financial update after its first quarter books are officially closed, when we will issue more formal data and hold a corresponding conference call in May.”
Stay at home orders and the inability for patients to access their doctors as usual, has forced people to rethink the way they receive medical care and treat their chronic, intractable pain conditions.
Commenting further, Mr. Wolfson said, “The Company has sold out of its entire WellnessPro Plus® inventory and now has a growing backlog of orders which will take 7-10 days to fill.”
Recently, the Company signed scientific collaborations for research with Nazarbayev University, Nur-Sultan, Kazakhstan to develop a comprehensive research program in defining the effects of electro-modulation on a physiological state of human body, by studying the impacts of alternating electrical fields on cell signaling. To find out more please see our press release from April 23rd, 2020.
Finally, Mr. Wolfson said, “We are taking significant steps, both operationally and financially, to expand awareness of our product through new distribution channels and by working with our existing distributor base to increase sales. I am confident that the high efficacy of our products, current economic environment and actions that we have taken to this point will allow us to achieve long-term sustainable upward growth for our business and shareholders.”
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 www.electromedtech.com.
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