some excerpts on ongoing and future operations from the recent 10Q, very good stuff for BONU shareholders some highlights bolded below:
Currently, we are focusing our efforts on the commercialization of a Ygiene ® formulation for healthcare and industrial applications. Some of our potential customers that operate in the healthcare marketplace require product testing and trials before purchasing our products. We have retained four professional sales persons with experience selling specialty chemicals such as ours. In doing so, we are investing our resources in their process to market and sell our products. We are developing our Ogiene ® products to potentially eliminate or reduce odors of many chemicals such as hydrogen sulfide, formaldehyde and ammonia, and to reduce certain greenhouse gases such as carbon dioxide and sulfur dioxide. Our Ogiene ® formulations are designed to interact with the functional organic or inorganic groups of harmful gases and reduce or eliminate them.
In calendar year 2013 we initiated our commercialization strategy to sell our products into the healthcare and life sciences markets, and also into industrial markets. Within healthcare and life sciences, most of our customer’s perform trial testing of our products prior to purchasing which can significantly lengthen the selling cycle. To date our marketing efforts have led to over 100 trials of our products of which 70 are active at the current time. Our products have been ordered within the segments of university laboratory medical research, pharmaceutical manufacturing and veterinarian care. These trials have led to the addition of 20 new customers of our products. The 70 active trials currently in process are pending results for placement of orders.
Our initial commercialization strategy, which was utilized as a basis for our 2012 impairment testing, contained a forecast that called for material sales to begin to occur in April of 2013. However, primarily due to the lead time involved with the following activities: 1) sales force orientation and training; 2) production of selling materials and 3) a relatively long sales cycle that includes product trial testing, we have lowered our 2013 revenue forecast to $1,120,000. We forecast to make up the difference between our original forecast and our current forecast in calendar years 2014 and 2015, and the effect of our revision is not anticipated to have a significant impact on our valuation.
