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LQMT after 20 years, an industry is born. For the first time in the companies extended history it began shipping volume orders in July. It took 20 years to commercialize this space age material, but now it's here .
Closed at .154
MMMW is under two cents a share but has a market cap of less than $1 million. It has a patented pending solar tracker to reduce electric cost.
I owned PAOS a while back and still have it on my radar.
PAOS - One to keep an eye on. From their Aug 10-Q. I'm impressed that they're nimble enough to raise prices to pass through increased sourcing costs due to lower order volumes. Additionally they're guiding for resumption of more normal ordering volumes for several customers that had disruptions as well as additional sales for a new product they've developed.
Government purchasing has declined during this quarter as the Defense Department has dealt with uncertainties regarding its funding and the Company had raised some of its offering prices to accommodate transient higher goods costs necessitated by required purchases of smaller lots. Longer term, although a reduced Government purchasing schedule will impact sales to manufacturers, the pace of operations of the military and prescribed maintenance schedules are the driving forces behind the consumption of the parts supplied by the Company to the Government and reallocation of inventory investment will generally maintain present government sales levels. Repair and maintenance to equipment no longer immediately required for combat requirements will take an extended time. Additionally possible restrictions of new purchases will mitigate toward additional repair and refurbishment of existing equipment.
During the first quarter, the Company opened a warehouse facility in Denton Texas to serve one of its customers. This facility allows the customer to anticipate just in time delivery from the now closely located facility, rather than to be concerned about shipping delays, and will result in additional sales of additional products to the customer, the initial impact during the first quarter and a portion of this quarter was to reduce the Company's sales to the customer as the customer absorbed its safety stock of materials in its inventory. The Company has seen sales return to anticipated levels in the last part of the second quarter.
The Company has also experienced delay in shipment of orders to the Navy Department as a result of its consolidation, and anticipates restoration of these shipments when the facilities are inspected. The inspection is anticipated to occur in the third quarter.
During the third quarter 2013 the Company anticipates starting shipment of a unique sealing product that it has developed in conjunction with one of the major manufacturers and its customer to fulfill specific customer needs. The product should fulfill similar needs with other customers. The product addresses current product offering technical shortfalls by increasing resistance to torque out and providing an optional self-sealing feature.
The Company believes based on discussions it has had with customers related to sales that its gross profit will improve as 2013 progresses.
Where have you been ... ????
We have missed you ... !!!!!
BKKN..$0.2038.. Some back ground and DD.. Hank
Bakken Resources, Inc. Announces Payoff of Long-Term Debt
HELENA, Mont., Aug. 7, 2013 /PRNewswire/ -- Bakken Resources, Inc. (OTCQX: BKKN) ("BRI"), announces that the company has made its final payment on a long term note payable for the purchase of approximately 800 +/- net mineral acres in McKenzie County, North Dakota. The original purchase price of the acreage was $1.6 million. Following an upfront payment of $351,000, the beginning balance on the note was $1,249,000 at the inception date of November 12, 2010. This note was originally amortized with quarterly payments through February 2019.
"Bakken Resources is pleased to report the company is currently debt free," said Val M. Holms, CEO. "In addition to our ongoing efforts to develop business operations separate from our mineral holdings in North Dakota, the Company strives to be financially responsible for our shareholders. Paying this note in full almost six years early reduces the amount of interest the Company is scheduled to pay and allows us to strengthen our overall balance sheet going forward."
For further information please contact:
Jim Kyle, Shareholder Liaison: (727) 265-7007
SOURCE Bakken Resources, Inc.
From the 10Q..
This discussion and analysis of our financial condition and results of operations should be read in conjunction with our financial statements and notes thereto included in this quarterly report on Form 10-Q (the “Quarterly Report”) and the audited financial statements and notes thereto included in our annual report on Form 10-K for the year ended December 31, 2012 (the “2012 Annual Report”), as filed with the Securities and Exchange Commission (the “SEC”). In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties, and assumptions. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of certain factors, including but not limited to those identified in the 2012 Annual Report in the section entitled “Risk Factors.”
Overview:
BRI is an oil and gas exploration company, with properties located mostly in the Bakken. As of June 30, 2013, the Company owns 50% of the mineral rights to approximately 7,605 gross acres of land located about 8 miles southeast of Williston, North Dakota. Our current and proposed operations consist of holding certain mineral rights which presently entitle the Company to royalty rights on average of 12.5% from the oil and gas produced on such lands. We have no working interest rights to influence the activities conducted by the Lessees of our mineral rights. In the event the operators fail to meet their drilling commitment, the Company has only three options: 1) it can agree to grant an extension; 2) it can renegotiate the terms of the existing leases; or 3) it can legally terminate the leases. We will focus on evolving the Company into a growth-orientated independent energy company engaged in the acquisition, exploration, exploitation, and development of oil and natural gas properties; focusing our activities initially in the Williston Basin, a large sedimentary basin in eastern Montana, Western North and South Dakota, and Southern Saskatchewan known for its rich deposits of petroleum and potash.
On February 4, 2011, we entered into agreements relating to the private placement of $50,000 of our securities through the sale of 200,000 shares of our common stock at $0.25 per share, with 100,000 total warrant shares attached that are exercisable at $.50 per share for three years from the date of this sale and callable at $0.01 per share at any time after February 4, 2012, if the underlying shares are registered and the common stock trades for 20 consecutive trading days at an average closing sales price of $.75 or more. In conjunction with the private placement, there were no fees, commissions, or professional fees for services payable. The placement was undertaken by the officers of the Company. The private placement of these securities was exempt from registration under pursuant to Section 4(2) of the Securities Act of 1933, as amended. The proceeds from these sales of unregistered securities were used to funding Company operations.
On March 18, 2011, we entered into agreements relating to the private placement of $695,000 of our securities on substantially similar terms as in the February 4, 2011 closing. The placement was undertaken by the officers of the Company. The private placement of these securities was exempt from registration under pursuant to Section 4(2) of the Securities Act of 1933, as amended. The proceeds from these sales of unregistered securities were used to funding Company operations. With the conclusion of the March 18, 2011 closings, the raise under the original private placement which commenced in November 2010 for $2.5 million were completed in full.
In May and June 2011, we entered into a series of convertible debt agreements with certain investors in an aggregate amount of $300,000. Such notes bear an annual interest rate of 6% and shall be converted into shares of common stock of the Company upon the closing of a qualified equity financing round prior to December 31, 2011. Conversion, if it occurs, would be at a 25% discount to the price per share of the qualified financing round. Interest on the Notes shall not be deemed payable in the event of an equity conversion pursuant to a qualified financing round. The Company issued the notes pursuant to the exemption from registration afforded by the provisions of Section 4(2) of the Securities Act and Rule 506 of Regulation D thereunder. In January 2012, holders of $155,000 of such notes elected to convert at a price of $0.375 per share. Also in January 2012, holders of $95,000 of note elected to extend such notes until June 30, 2012.
In September 2011 and February 2012, we sold an aggregate of 150,000 shares of common stock of the Company at $0.50 per share pursuant to subscription agreements. The September 2011 and February 2012 investors also received an aggregate of 75,000 warrants exercisable at $0.75 per share reflecting 50% of the original investment amount. The Company received gross proceeds of $75,000 in connection with this sale. The Company issued the shares and warrants pursuant to the exemption from registration afforded by the provisions of Section 4(2) of the Securities Act and Rule 506 of Regulation D thereunder.
Results of Operations:
Comparison of the Three Months Ended June 30, 2013 and June 30, 2012....
Revenue. We generated revenue for the three months ended June 30, 2013 of $909,309, compared to revenue of $260,904 for the three months ended June 30, 2012. The revenue amount for the period ended June 30, 2013 is based on our estimates for second quarter oil production from our currently producing wells and is based on a conservative estimate of currently available public information.
Since the beginning of 2011, we have received royalty checks totaling $3,208,205 to date from wells operated by Continental Resources, Brigham Oil and Oasis Petroleum. Typically, royalty checks from oil well operators can be delivered anytime between 60 to 150 days following the month of initial production. Following oil well production, the oil well operator will usually seek a division order title opinion from any attorney which would describe the ownership of the production. Following issuance of this opinion, the oil well operator will generally issue division orders which would set forth payments to the royalty holders. North Dakota law requires payment of 18% annual interest if royalty payments are not made within 150 days after oil produced by the well is marketed. For additional information regarding the rights of royalty holders, see the “Royalty Owner Information Center” link found on the website for the North Dakota Petroleum Council, www.ndoil.org.
General and Administrative Expenses. General and administrative expenses were $24,359 for the three months ended June 30, 2013 compared to $102,256 for the same period in 2012, a decrease of $77,897.
Our material financial obligations include our salaries paid to our three current employees, fees paid to outside consultants, public company reporting expenses, transfer agent fees, bank fees, and other recurring fees.
Comparison of the Six Months Ended June 30, 2013 and June 30, 2012
Revenue. We generated revenue for the six months ended June 30, 2013 of $1,429,221, compared to revenue of $563,800 for the six months ended June 30, 2012. The revenue amount for the period ended June 30, 2013 is based on our estimates for second quarter oil production from our currently producing wells and is based on a conservative estimate of currently available public information.
General and Administrative Expenses. General and administrative expenses were $52,110 for the six months ended June 30, 2013 compared to $354,609 for the same period in 2012, a decrease of $302,499. The decrease is primarily attributable to decreased travel and less stock based compensation.
Our material financial obligations include our salaries paid to our three current employees, fees paid to outside consultants, public company reporting expenses, transfer agent fees, bank fees, and other recurring fees.
Liquidity and Capital Resources
The Company has historically met our capital requirements through the issuance of stock and by borrowings. From November 2010 through March 2011, the Company raised approximately $2.5 million in equity financing, net of offering costs of approximately $0.2 million. As of June 30, 2013, the Company had cash of $530,167. Our recent rate of use of cash in operations over the last three months has been approximately $112,500 per month and consists mainly of salaries, office rent and professional fees. Given our recent rate of use of cash in our operations, we believe we have sufficient capital to carry on operations for the next year. Our long term capital requirements and the adequacy of our available funds will depend on many factors, including the reporting company costs, public relations fees, and operating expenses, among others.
In the future, we anticipate we will be able to provide the necessary liquidity we need by the revenues generated from the royalties received through sales of our oil reserves in our existing properties. No assurances, however, can be given that such royalties will continue to be received. As of June 30, 2013, the royalty revenues received have been sufficient to provide liquidity during the previous nine months. If the Company does not generate sufficient revenues it will continue to finance operations through equity and/or debt financings.
We will continue to evaluate additional properties containing mineral rights which we may seek to acquire. With respect to transactions involving the acquisition of additional mineral rights or other business collaboration transactions, we may seek to issue shares of our common stock or other equity to finance part or all such acquisitions or transactions. To the extent that such acquisitions or transactions require cash payments, such payments will likely have a material impact on our liquidity.
Until we can generate significant revenues from operations, we expect to continue to fund operations with proceeds of offerings of our equity and debt securities. However, we may not be successful in obtaining cash from new or existing agreements or licenses, or in receiving royalty payments under our existing leases. In addition, we cannot be sure that additional financing will be available when needed or that, if available, financing will be obtained on terms favorable to us or to our stockholders. Having insufficient funds may require us to delay, scale back, or eliminate some or all of our business development activities. Failure to obtain adequate financing also may adversely affect our ability to operate as a going concern.
If we raise additional funds from the issuance of equity securities, substantial dilution to our existing stockholders would likely result. If we raise additional funds by incurring debt financing, the terms of the debt may involve significant cash payment obligations as well as covenants and specific financial ratios that may restrict our ability to operate our business.
Satisfaction of our cash obligations for the next 12 months
A critical component of our operating plan impacting our continued existence is the ability to obtain additional capital through additional equity and/or debt financing and JV drilling partnerships. We do not anticipate enough positive internal operating cash flow until we can generate substantial oil and gas royalty revenues. In the event we cannot obtain the necessary capital to pursue our strategic plan, we may have to cease or significantly curtail our operations. This would materially impact our ability to continue operations. However, due to our low overhead, we are not dependent on new capital if we do not wish to accelerate our drilling programs and/or buy up working interests in potential wells during the next 12 months.
Since inception, we have financed cash flow requirements through debt financing and issuance of common stock for cash and services. As we expand operational activities, we may continue to experience net negative cash flows from operations, pending receipt of sales or development fees, and will be required to obtain additional financing to fund operations through common stock offerings and debt borrowings to the extent necessary to provide working capital.
Over the next twelve months we believe that existing capital and anticipated funds from operations will be sufficient to sustain current operations. We may seek additional capital in the future to fund growth and expansion through additional equity or debt financing or credit facilities. No assurance can be made that such financing would be available, and if available it may take either the form of debt or equity. In either case, the financing could have a negative impact on our financial condition and our Stockholders.
We have collected approximately $3,208,205 in royalty income from August 2011 to June 30, 2013 from production on thirty wells. We have information that an additional seven (7) wells are either in production or are in confidential status. Although we believe that our income from our wells will likely reduce or eliminate operating losses in the near future, we have no control over the timing of when we will receive such royalty payments. In addition, there can give no assurance that we will be successful in addressing operational risks as previously identified under the "Risk Factors" section, and the failure to do so can have a material adverse effect on our business prospects, financial condition and results of operations.
QMDT looks very good ...
Thanks for doing the DD for us.
QMDT.. $0.0528..Polartec LLC to License Stay-Fresh(R) Antimicrobial Technology
Quick-Med Signs License With Polartec, LLC for Products Utilizing Stay Fresh Antimicrobial Technology
GAINESVILLE, FL -- (Marketwired) -- 08/27/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has signed a license for a range of products and fields of use with Polartec LLC, a premium producer of textile solutions.
"We are very pleased to enter into this partnership with such a strongly positioned and technologically advanced partner as Polartec, whose leadership and innovation in performance textiles is recognized worldwide. Our Stay Fresh technology can permit Polartec to unlock added value in their product offerings, as well as access entire new segments with their performance fabrics, and strong network of industrial partners," said Bernd Liesenfeld, Quick-Med's President.
About Stay Fresh
Stay Fresh is Quick-Med's newest technology platform. This technology is based on hydrogen peroxide -- a well known consumer antimicrobial product that is commonly used in households for disinfecting cuts, scrapes, toothbrushes and more. Hydrogen peroxide is also produced by human cells to combat invasive bacteria, and is a naturally occurring preservative component of milk and honey. EPA has registered Stay Fresh to be utilized to protect a broad selection of treated goods for consumer use, including textiles, decorative fabrics, and functional fabrics such as filters and carpets. FDA has also granted clearance to market an antibacterial medical textile based on Stay Fresh Technology. The Stay Fresh technology offerings provided by Quick-Med are expanding continuously, with development of additional applications including antimicrobial surface treatments, and superabsorbent antimicrobial powders to complement the range of products that are already cleared for consumer use under EPA or FDA jurisdiction.
About Quick-Med Technologies, Inc.
Quick-Med Technologies, Inc. is a life sciences company that is developing and commercializing proprietary, broad-based technologies for the consumer and healthcare markets. The Company's NIMBUS® technology is the first FDA-cleared, non-leaching antimicrobial technology available in a wound dressing. Its Stay Fresh® technology provides highly durable antimicrobial protection for apparel and other textile applications, with consumer applications of Stay Fresh Technology having EPA registration for the treated articles, as well as an FDA clearance for an antibacterial medical textile product. Quick-Med develops antimicrobial technologies to promote public health, safety and comfort. For more information, see: www.quickmedtech.com.
About Polartec, LLC
Polartec, LLC is the premium producer of innovative textile solutions. Since inventing modern synthetic fleece in 1981, the engineers at Polartec have continued to push the limits of fabric technology. Today, Polartec supplies the world with the most advanced fabric innovations. Polartec products range from advanced lightweight wicking fabric, to insulation and weather protection textiles and are utilized by leading apparel brands, the U.S. military and other global militaries, flame resistance, work wear, and contract upholstery markets. For more information, visit polartec.com.
© 2013 Quick-Med Technologies, Inc. All rights reserved. NIMBUS®, and Stay Fresh® are registered trademarks of Quick-Med Technologies, Inc.
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Quick-Med Technology, Inc. Receives Notice-of-Allowance for New NIMBUS Patent
New Poly-Electrolyte Complex (PEC) Patent Will Protect NIMBUS Antimicrobial Product Applications
GAINESVILLE, FL -- (Marketwired) -- 08/23/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has received a Notice-of-Allowance for an additional new U.S. patent that will protect its novel, non-leaching NIMBUS® antimicrobial technology.
The U.S. Patent and Trademark Office has allowed all 41 claims in Quick-Med Technologies' U.S. Patent Application No. 12/830,062 titled, "POLYELECTROLYTE COMPLEX FOR IMPARTING ANTIMICROBIAL PROPERTIES TO A SUBSTRATE." This new patent will provide protection for an improved method of preparing the company's NIMBUS antimicrobial products. The method utilizes a Poly-Electrolyte Complex, or PEC in which a negatively-charged (anionic) polymer is used to stabilize the active antimicrobial agent -- a positively-charged (cationic) polymer. This complex allows the NIMBUS polymer to be bonded to a wider variety of substrates, opening the door for new applications and products.
"The PEC method is an important improvement in the way we manufacture our NIMBUS materials," said Dr. William Toreki, one of the inventors of the method, and Quick-Med's Vice-President of Research & Development. "The PEC makes the antimicrobial component more adherent on a molecular level, and that makes it easier to attach it to the surfaces of bandages and wound dressings." The PEC method is currently in-use in commercial products such as the BIOGUARD® series of wound dressings sold by Derma Sciences, under license from Quick-Med. Quick-Med expects this new patent to issue in approximately 6 to 8 weeks from today, and it will remain in force until the year 2030.
About NIMBUS
Quick-Med's patented technology, NIMBUS, is a cutting-edge antimicrobial technology that has been custom designed for wound care and other medical applications. NIMBUS received De Novo FDA clearance in 2009 and has been commercialized in traditional wound care applications. It is the only non-leaching antimicrobial dressing which, by design, poses no risk of bacteria developing resistance. NIMBUS technology is protected by twelve U.S. patents and patents pending and 24 foreign counterparts. Additional applications under development include advanced wound dressings, medical adhesives, catheters, and contact lenses.
While NIMBUS antimicrobials remain at full strength, the active agent in most other antimicrobial technologies is depleted gradually while in use. These other antimicrobials carry the risk of irritation or interference with healing in products such as wound dressings and textile applications in which the treated material is next to or used on the skin. The bonding of an antimicrobial to a substrate is a paradigm shift from the current state-of-the-art which fosters release of the active agent. The value of a non-leaching antimicrobial is that it does not allow depletion of the active agent which can lead to damage to human skin or tissue cells such that they can cause irritation, delay healing and possibly initiate the development of bacterial resistance.
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Quick-Med Technologies Awarded NSF Grant to Develop Antimicrobial Coatings That Can Be Regenerated With Hydrogen Peroxide
Stay Fresh(R) Technology Competitively Selected by National Science Foundation for Development of Antimicrobial Surface Treatments
GAINESVILLE, FL -- (Marketwired) -- 05/30/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has been awarded grant IIP-1315379 by the National Science Foundation (NSF), titled: "Regenerable Antimicrobial Coatings Containing Zinc Oxide Binders for Hydrogen Peroxide Cleaning Solutions." Quick-Med's Stay Fresh® technology was competitively selected for this award under the Small Business Innovation Research (SBIR) program of NSF. The SBIR program, established by the U.S. Congress, supports scientific excellence and technological innovation through the investment of federal research funds by competitively awarding contracts and grants on the basis of scientific merit, commercial potential, and potential for societal impact by the supported research.
The Phase I objective of this research is to develop Regenerable Antimicrobial Coatings with long-lasting efficacy for use in medical instruments, devices, and hospital equipment and facilities. The same coatings will also have broad utility in the consumer, industrial, and institutional markets.
The coating technology is an extension of the highly effective Stay Fresh technology, sequestering Hydrogen Peroxide (HP) in zinc oxide particles incorporated into the coatings. Exposure of coated surfaces to commercially-available HP-containing cleaning products will cause binding of HP to the zinc oxide particles -- allowing HP to be sequestered within the coating after the surface has dried. This technology is designed to provide durable and long-lasting antimicrobial effect sufficient to reduce or eliminate the proliferation and spread of pathogenic organisms in between cleaning cycles. Additionally, the antimicrobial effect should be regenerated each time the surface is cleaned with peroxide-containing cleaning products.
The Phase I research grant is valued at about $150,000, and the performance period is from July 1, 2013 through December 31, 2013. The Phase 1 award also qualifies Quick-Med to apply for Phase 2, which can bring the total value close to $1M, and will develop the proof of concept to commercial readiness. "We are very pleased to have been competitively selected for this important advanced research program to develop antimicrobial coatings," said Bernd Liesenfeld, Quick-Med's President. "This award is a great validation of our Stay Fresh antimicrobial technology platform and will enable us to continue our development of products that help prevent microbial contamination, and pathogen transfer, particularly as focused on healthcare settings. We believe that this technology can be particularly helpful to aid infection control strategies in institutions housing vulnerable populations."
About Stay Fresh..
Stay Fresh is Quick-Med's newest technology platform. This technology is based on hydrogen peroxide -- a well known consumer antimicrobial product that is commonly utilized in households for disinfecting cuts, scrapes, toothbrushes and more. Hydrogen peroxide is also produced by human cells to combat invasive bacteria, and is a naturally occurring preservative component of milk and honey. EPA has registered Stay Fresh to protect a broad selection of treated goods for consumer use, including textiles, decorative fabrics, and functional fabrics such as filters and carpets. FDA has granted clearance to market an antibacterial medical textile based on Stay Fresh technology. The Stay Fresh technology offerings provided by Quick-Med are expanding continuously, with development of further applications including antimicrobial surface treatments, and superabsorbent antimicrobial powders to complement the range of products that are already cleared for consumer use under EPA or FDA jurisdiction.
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FDA Clears Stay-Fresh(R) Medical Textile Product
Quick-Med Receives 510k Clearance to Market Antibacterial Skinfold Management Device -- First Medical Product Utilizing Stay Fresh Technology
GAINESVILLE, FL -- (Marketwired) -- 05/29/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that the U.S. Food and Drug Administration (FDA) has issued clearance for distribution and marketing of a Stay Fresh® medical textile product. FDA granted 510k clearance for the Stay Fresh® antibacterial skinfold management textile, which provides durable protection against bacterial contamination for skinfold management in bariatric patients.
"We are very pleased to have received this clearance for both prescription (Rx) and Over-The-Counter (OTC) use," said Bernd Liesenfeld, Quick-Med's President. "This clearance represents a very powerful validation of our Stay Fresh technology, since the FDA review process is extremely meticulous and comprehensive; 510k clearance requires strong evidence of both effectiveness and of safety for users and care providers. Together with the existing EPA registration for Stay Fresh this provides strong regulatory support for our products already in development with partners, and for further products in our pipeline, both on the consumer and on the medical sides."
"Areas of skin-to-skin contact such as under breast folds or abdominal skin folds frequently develop redness, odor, and rashes due to increased moisture and friction that create an environment that promotes bacterial growth in the skin folds," said Professor Gregory Schultz, Director of the Institute for Wound Research and Professor of Obstetrics and Gynecology at the University of Florida. "The Stay Fresh® antibacterial textile approved by the FDA provides an effective skin fold management system that will help manage moisture and bacterial pathogen growth for up to 5 days."
About Stay Fresh
Stay Fresh is Quick-Med's newest technology platform. This technology is based on hydrogen peroxide -- a well known consumer antimicrobial product that is commonly used in households for disinfecting cuts, scrapes, toothbrushes and more. Hydrogen peroxide is also produced by human cells to combat invasive bacteria, and is a naturally occurring preservative component of milk and honey. EPA has registered Stay Fresh to be utilized to protect a broad selection of treated goods for consumer use, including textiles, decorative fabrics, and functional fabrics such as filters and carpets. FDA has granted clearance to market an antibacterial medical textile based on Stay Fresh Technology. The Stay Fresh technology offerings provided by Quick-Med are expanding continuously, with development of additional applications including antimicrobial surface treatments, and superabsorbent antimicrobial powders to complement the range of products that are already cleared for consumer use under EPA or FDA jurisdiction.
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Quick-Med Technologies Awarded Contract to Develop Wound Healing Technology to Control Scar Contracture in Burn Patients
NIMBUS Technology Selected by Department of Defense for Advanced Wound Healing Technology SBIR Grant
GAINESVILLE, FL -- (Marketwired) -- 05/22/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has been awarded a contract by the U.S. Department of Defense for research on the "Development of Technologies to Control Scar Contracture after Burn Injuries." NIMBUS technology was competitively selected for this award under the Small Business Innovation Research (SBIR) program of the DoD Defense Health Program (DHP). The SBIR program, established by the U.S. Congress, supports scientific excellence and technological innovation through the investment of federal research funds by competitively awarding contracts on the basis of scientific merit and commercial potential.
The Phase I objective of this research is "to design a new innovative technology to intervene during the wound healing process, including inflammatory, proliferative and/or remodeling stages, to attenuate/control scar contracture and retain skin aesthetics following deep tissue burn injuries." The Phase I research contract is valued at about $150,000. Work starts immediately and is expected to take about 6 months. Follow-on phases of the award can bring the total value close to $1M, and will develop the proof of concept to commercial readiness.
"We are very pleased to have been competitively selected for this important advanced research program into dressings that can speed wound healing," said Bernd Liesenfeld, Quick-Med's President. "This award is a further validation of our NIMBUS antimicrobial technology platform and will enable us to continue our development a series of products that accelerate wound healing and help prevent microbial contamination."
The new research contract builds on Quick-Med's prior work developing a dressing that was shown to speed healing of vesicant (blister) injuries caused by chemical weapons (sulfur mustard gas). This previous research, which was conducted under Phase 1 and Phase 2 SBIR awards from the US Army, was presented at the 2011 Annual Meeting of the Wound Healing Society, where it received the top prize for Industrial Research and Development. This new award permits Quick-Med to extend that research to more directly address unmet commercial needs in treatments for the approximately 2.4 million thermal burns occurring annually in the US, with a dressing designed to reduce scarring and contracture in healing of severe burns. Part of the research will be conducted at the University of Florida's Institute for Wound Research.
"The NIMBUS super-absorbent polymer technology allows Quick-Med to develop a unique dressing that provides antimicrobial protection for the wound while also acting to minimize scar tissue formation, and inhibit matrix metalloproteinases to block contracture of tissues," said Professor Greg Schultz, Director of the Institute for Wound Research at the University of Florida. "This unique combination therapy should speed healing and reduce contraction of severe burns in our wounded warriors. It would also have extensive application for civilians with large burns."
About NIMBUS
Quick-Med's patented technology, NIMBUS, is a cutting-edge antimicrobial technology that has been custom designed for wound care and other medical applications. NIMBUS received De Novo FDA clearance in 2009 and has been commercialized in traditional and advanced wound care applications, both in the US and abroad. It is the only non-leaching antimicrobial dressing which, by design, poses no risk of bacteria developing resistance. NIMBUS technology is protected by numerous U.S. patents and foreign counterparts. Additional applications currently under development include advanced wound dressings, medical adhesives, and catheters.
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From 8K filing:Item 1.01 Entry into a Material Definitive Agreement
The following discussion provides only a brief description of the document described below. The discussion is qualified in its entirety by the full text of the agreement, which is attached to this Current Report on Form 8-K as an exhibit.
On May 20, 2013, with an effective date as of May 13, 2013, Quick-Med Technologies, Inc. (the “Company” or "we") and the U.S. Army Medical Research and Material Command entered in to an agreement for the Company to provide Small Business Innovative Research (SBIR) Phase I research in “Development of Technologies the Control Scar Contracture after Burn Injuries”. The agreement provides payments to the Company of $149,999 over the period from May 15, 2013 through December 15, 2013.
Phase I is to determine the scientific or technical merit of ideas submitted to the U.S. Army by the Company. Phase II awards could be made in the government’s fiscal year 2014 (October 1, 2013 to September 30, 2014) if the approaches appear sufficiently promising as a result of Phase I and could cover 2-5 many years of effort over a period generally not to exceed 24 months.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
Exh. No. Description
10.1 Award/Contract between Quick-Med Technologies, Inc. and the U.S. Army Medical Research and Material Command effective as of May 13, 2013.
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FDA Clears Stay-Fresh(R) Medical Textile Product
Marketwire - May 29 08:00 EDT
Alert hits:OTC /qm
Company Symbols: OTC-PINK:QMDT
Quick-Med Receives 510k Clearance to Market Antibacterial Skinfold Management Device -- First Medical Product Utilizing Stay Fresh Technology
GAINESVILLE, FL -- (Marketwired) -- 05/29/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that the U.S. Food and Drug Administration (FDA) has issued clearance for distribution and marketing of a Stay Fresh® medical textile product. FDA granted 510k clearance for the Stay Fresh® antibacterial skinfold management textile, which provides durable protection against bacterial contamination for skinfold management in bariatric patients.
"We are very pleased to have received this clearance for both prescription (Rx) and Over-The-Counter (OTC) use," said Bernd Liesenfeld, Quick-Med's President. "This clearance represents a very powerful validation of our Stay Fresh technology, since the FDA review process is extremely meticulous and comprehensive; 510k clearance requires strong evidence of both effectiveness and of safety for users and care providers. Together with the existing EPA registration for Stay Fresh this provides strong regulatory support for our products already in development with partners, and for further products in our pipeline, both on the consumer and on the medical sides."
"Areas of skin-to-skin contact such as under breast folds or abdominal skin folds frequently develop redness, odor, and rashes due to increased moisture and friction that create an environment that promotes bacterial growth in the skin folds," said Professor Gregory Schultz, Director of the Institute for Wound Research and Professor of Obstetrics and Gynecology at the University of Florida. "The Stay Fresh® antibacterial textile approved by the FDA provides an effective skin fold management system that will help manage moisture and bacterial pathogen growth for up to 5 days."
About Stay Fresh
Stay Fresh is Quick-Med's newest technology platform. This technology is based on hydrogen peroxide -- a well known consumer antimicrobial product that is commonly used in households for disinfecting cuts, scrapes, toothbrushes and more. Hydrogen peroxide is also produced by human cells to combat invasive bacteria, and is a naturally occurring preservative component of milk and honey. EPA has registered Stay Fresh to be utilized to protect a broad selection of treated goods for consumer use, including textiles, decorative fabrics, and functional fabrics such as filters and carpets. FDA has granted clearance to market an antibacterial medical textile based on Stay Fresh Technology. The Stay Fresh technology offerings provided by Quick-Med are expanding continuously, with development of additional applications including antimicrobial surface treatments, and superabsorbent antimicrobial powders to complement the range of products that are already cleared for consumer use under EPA or FDA jurisdiction.
CONTACT: Quick-Med Technologies Bernd Liesenfeld
President (352) 379-0611
bliesenfeld@quickmedtech.com
Source: Quick-Med Technologies, Inc.
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Quick-Med Technologies Awarded Contract to Develop Wound Healing Technology to Control Scar Contracture in Burn Patients
NIMBUS Technology Selected by Department of Defense for Advanced Wound Healing Technology SBIR Grant
GAINESVILLE, FL -- (Marketwired) -- 05/22/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has been awarded a contract by the U.S. Department of Defense for research on the "Development of Technologies to Control Scar Contracture after Burn Injuries." NIMBUS technology was competitively selected for this award under the Small Business Innovation Research (SBIR) program of the DoD Defense Health Program (DHP). The SBIR program, established by the U.S. Congress, supports scientific excellence and technological innovation through the investment of federal research funds by competitively awarding contracts on the basis of scientific merit and commercial potential.
The Phase I objective of this research is "to design a new innovative technology to intervene during the wound healing process, including inflammatory, proliferative and/or remodeling stages, to attenuate/control scar contracture and retain skin aesthetics following deep tissue burn injuries." The Phase I research contract is valued at about $150,000. Work starts immediately and is expected to take about 6 months. Follow-on phases of the award can bring the total value close to $1M, and will develop the proof of concept to commercial readiness.
"We are very pleased to have been competitively selected for this important advanced research program into dressings that can speed wound healing," said Bernd Liesenfeld, Quick-Med's President. "This award is a further validation of our NIMBUS antimicrobial technology platform and will enable us to continue our development a series of products that accelerate wound healing and help prevent microbial contamination."
The new research contract builds on Quick-Med's prior work developing a dressing that was shown to speed healing of vesicant (blister) injuries caused by chemical weapons (sulfur mustard gas). This previous research, which was conducted under Phase 1 and Phase 2 SBIR awards from the US Army, was presented at the 2011 Annual Meeting of the Wound Healing Society, where it received the top prize for Industrial Research and Development. This new award permits Quick-Med to extend that research to more directly address unmet commercial needs in treatments for the approximately 2.4 million thermal burns occurring annually in the US, with a dressing designed to reduce scarring and contracture in healing of severe burns. Part of the research will be conducted at the University of Florida's Institute for Wound Research.
"The NIMBUS super-absorbent polymer technology allows Quick-Med to develop a unique dressing that provides antimicrobial protection for the wound while also acting to minimize scar tissue formation, and inhibit matrix metalloproteinases to block contracture of tissues," said Professor Greg Schultz, Director of the Institute for Wound Research at the University of Florida. "This unique combination therapy should speed healing and reduce contraction of severe burns in our wounded warriors. It would also have extensive application for civilians with large burns."
About NIMBUS
Quick-Med's patented technology, NIMBUS, is a cutting-edge antimicrobial technology that has been custom designed for wound care and other medical applications. NIMBUS received De Novo FDA clearance in 2009 and has been commercialized in traditional and advanced wound care applications, both in the US and abroad. It is the only non-leaching antimicrobial dressing which, by design, poses no risk of bacteria developing resistance. NIMBUS technology is protected by numerous U.S. patents and foreign counterparts. Additional applications currently under development include advanced wound dressings, medical adhesives, and catheters.
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QUICK-MED TECHNOLOGIES, INC.
CONDENSED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED MARCH 31, 2013 AND 2012
(UNAUDITED)
--------------------------------------------------------------------------------
3 months ended 9 months ended
March March
2013 2012 2013 2012
Revenues
Royalty and license fees $ 137,217 $ 117,867 $ 459,333 $ 319,604
Product sales 124,788 77,433 265,578 284,655
Research and development service - 3,000 - 113,000
Total revenues 262,005 198,300 724,911 717,259
Expenses:
Cost of sales 6,475 6,358 17,483 17,724
Research and development 117,942 210,235 405,639 683,889
General and administrative expenses (142,039 ) 210,712 262,411 742,443
Licensing and patent expenses 53,743 62,323 194,734 230,233
Depreciation and amortization 32,487 15,757 63,939 48,583
Total operating expenses 68,608 505,385 944,205 1,722,872
Operating profit (loss) 193,397 (307,085 ) (219,294 ) (1,005,613 )
Other income (expense):
Interest income 87 58 660 1,371
Interest expense (108,808 ) (111,819 ) (334,375 ) (338,153 )
Total other expense (108,721 ) (111,761 ) (333,715 ) (336,782 )
Profit (Loss) before provision (benefit) for income taxes 84,676 (418,846 ) (553,010 ) (1,342,395 )
Provision (benefit) for income taxes - - - -
Net loss $ 84,676 $ (418,846 ) $ (553,010 ) $ (1,342,395 )
Net loss per share - basic and diluted $ 0.00 $ (0.01 ) $ (0.01 ) $ (0.04 )
Weighted average common shares outstanding - basic and diluted 37,346,154 37,346,154 37,346,154 37,346,154
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8K announcement..
Item 1.01 Entry into a Material Definitive Agreement
The following discussion provides only a brief description of the document described below. The discussion is qualified in its entirety by the full text of the agreement, which is attached to this Current Report on Form 8-K as an exhibit.
On May 9, 2013, with an effective date as of April 1, 2013, Quick-Med Technologies, Inc. (the “Company” or "we") and VIRIDIS BioPharma Pvt. Ltd. entered into a Patent and Technology License Agreement (the "Agreement") to license our proprietary Nimbus® intellectual property.
Under the Agreement, we grant Viridis exclusive rights to use our proprietary Nimbus intellectual property in hydrophilic polyurethane foam for wound care applications and for securing intravenous tubings and catheters on products sold in Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, Russia and their territories and possessions.
In consideration for the execution of the Agreement, Viridis will pay a royalty of 7.5% on net sales for each product. The Agreement shall continue to be in effect for a term of five years from the effective date, unless terminated earlier for breach or bankruptcy.
The Agreement is in addition to the Patent and Technology License Agreement of July 26, 2010 (including Amendments 1-3) (“2010 Patent Agreement”). We also entered into a fourth amendment of the 2010 Patent Amendment on May 9, 2013 that extended the term of the 2010 Patent Agreement to March 31, 2018
There are no material relationships between the Company or its affiliates and any of the parties to the Agreement, other than with respect to this Agreement and the Agreement dated July 26, 2010 with amendments 1-4.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
Exh. No. Description
10.1 Patent and License Agreement by and between Quick-Med Technologies, Inc. and VIRIDIS BioPharma Pvt. Ltd. effective as of April 1, 2013.
10.2 Amendment No. 4 to Patent and License Agreement by and between Quick-Med Technologies, Inc. and VIRIDIS BioPharma Pvt. Ltd. dated May 9, 2013.
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Quick-Med Engages Match Point Partners as Financial Advisor
Specialist Firm Expert in Healthcare Markets Served by QMT
GAINESVILLE, FL -- (Marketwired) -- 04/12/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company, announced that is that it has retained Match Point Partners to manage its investor and public relations programs. Match Point Partners is a New York based strategy and financial advisory firm that helps healthcare and technology companies manage and grow through inflection points and maximize long-term value.
"We are continuing the commercial expansion of our NIMBUS® and Stay Fresh® product lines with our US and international partners," said Quick-Med CFO Paul Jenssen. "We are excited to have the help of Match Point Partners to communicate our growth and increase our visibility with our partners and supporters."
"QMT is a highly innovative health care company that is bringing very exciting antimicrobial technologies to market," said J.D. Friedland, Founder and Senior Managing Director of Match Point. "Their products address the major public health concerns of drug-resistant bacteria in our communities, institutions, and even in our food industries. Match Point will be able to help communicate the value of these technologies better to the healthcare, consumer goods, and financial communities to improve public understanding of Quick-Med's value.
"Our work with Quick-Med reflects Match Point's approach to partner closely with our clients in a broad manner to help them achieve their financial and strategic objectives. We follow through on our commitment by working side by side with our clients at every step. This depth of collaboration helps to align client goals with our efforts and enhance company value."
About Match Point Partners LLC
Headquartered in New York City, Match Point Partners is a strategy and financial advisory firm that provides a unique blend of value-added strategic, operating and investment banking services to emerging middle market healthcare and technology firms. Our team of experienced entrepreneurs, bankers, and operators collaborate to develop and execute creative, innovative and often out-of-the-box solutions to help our clients achieve superior value. All securities are offered through Bridge Capital Associates, Inc., Member FINRA / SIPC. For more information, please visit www.mppartnersllc.com. ==================================================
Quick-Med Announces New Members Appointed to Its Board of Directors
Appointment of Dale Bergman and Paul Jenssen
GAINESVILLE, FL -- (Marketwire) -- 02/28/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that the Board has appointed new members Dale Berman and Paul Jenssen effective February 28, 2013. These members fill vacancies left by departures of Major General George Friel, USA (Ret.), who served from 2000 to 2012, and J. Ladd Greeno, who served from 2007 to 2013.
Mr. Bergman, 57, has practiced corporate and securities law for over 25 years, with specialty in advising emerging and mid-market public companies in their growth. Since March 2011, he has been a partner in the Ft. Lauderdale office of Roetzel & Andress, LPA. From May 2009 to March 2011, he was a partner in the Ft. Lauderdale office of Arnstein & Lehr and from January 2004 to April 2009, he was a member of Kluger, Peretz, Kaplan & Berlin, P.L., a Miami-Florida based law firm. Mr. Bergman does not currently serve as a director of any reporting companies. Mr. Bergman, who is a member of the Florida and New York bars, holds a bachelor's degree from Columbia College of Columbia University and a J.D. from Harvard Law School. Quick-Med Technologies believes that his lengthy experience in advising emerging and mid-market public companies in their growth makes him a valuable addition to the board of directors. The board of directors expects to appoint Mr. Bergman to its audit committee.
Mr. Jenssen has served as Chief Financial Officer and Corporate Secretary for Quick-Med Technologies since January 10, 2013. He has over 35 years of experience in strategic planning, process improvement, finance and accounting. He started his career at Deloitte Touche (1978-1984) before becoming Treasurer at Associated Press (1984-1998). In addition to working as a consultant since 1998, he was the CFO, COO and a Senior Managing Director at Rothschild North America investment bank (1998-2006). From 2006 until the present, Mr. Jenssen was the President of Jenssen Consulting, a business involved in providing strategic planning, process improvement, finance and accounting related services. Mr. Jenssen does not serve as a director of any other reporting company. Mr. Jenssen is a CPA, has an MBA from Columbia University in New York and has held several securities licenses. The registrant believes that Mr. Jenssen's financial and investment banking experiences makes him a valuable addition to its board of directors.
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Quick-Med Technologies Appoints Paul H. Jenssen as Its Chief Financial Officer
GAINESVILLE, FL -- (Marketwire) -- 01/15/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT) announced today that its Board of Directors (the "Board") appointed Paul H. Jenssen as the Company's Chief Financial Officer and corporate secretary, effective as of January 10, 2013. He replaces Nam H. Nguyen, whom Quick-Med wishes to thank for his contributions and years of service, and who will provide active support for the transition.
Mr. Jenssen has 35 years of experience in strategic planning, process improvement, finance and accounting. He started his career at Deloitte Touche (1978-1984) before becoming Treasurer at Associated Press (1984-1998). In addition to working as a consultant since 1998, he was the CFO, COO and a Senior Managing Director at Rothschild North America investment bank (1998-2006). He is a CPA, has an MBA with highest honors from Columbia University in New York and has held several securities licenses. He is also an engaged member of the community and has worked in several teaching positions. Additional information can be found in the Company's current report on Form 8-K filed with the Securities and Exchange Commission and available on the Company's website.
"We are very excited to have Paul join our team at Quick-Med, as he brings terrific experiences to support our operational and investment needs. This completes the centralization of our operations to our Gainesville site, and will improve and simplify our ability to communicate with our clients and investors as a team" stated Bernd Liesenfeld, President of Quick-Med.
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Quick-Med Announces Update on Appointment of Director
GAINESVILLE, FL -- (Marketwire) -- 01/15/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today an update to a previous press release announcement. Quick-Med announced November 13, 2012 that John W. Sheets was appointed to join the board of directors of the company. Delays in receiving clearance from his employer's (Boston Scientific) corporate counsel have prevented Dr. Sheets from being able to join the company's board to date. As a result, Dr. Sheets' appointment as a board member has been rescinded by the company's board of directors at this time. Both Dr. Sheets and the company remain enthusiastic to work together and intend to do so as the situation permits.
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Quick-Med Announces First Commercial Sale of Advanced Dressings With NIMBUS(R) Technology
Viridis BioPharma Launches Microfoam(TM) Advanced Wound Care Dressings in India
GAINESVILLE, FL -- (Marketwire) -- 01/08/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that Viridis BioPharma Pvt. Ltd. has begun selling and shipping Microfoam™ dressings to customers. Microfoam is the first advanced wound care dressing to utilize Quick-Med's proprietary non-leaching NIMBUS® technology. Viridis received approval by the Food and Drug Administration of India in September 2011 to manufacture and market Microfoam wound dressings incorporating NIMBUS antimicrobial technology.
NIMBUS represents a next generation in wound care. This unique technology offers surgeons, wound care clinicians, infection control experts and primary care doctors an important new weapon against the transmission of such virulent bacteria as Methicillin-resistant Staphylococcus aureus (MRSA). It is the first non-leaching antimicrobial available in a wound dressing.
"It's exciting that this unique technology is now available in an advanced wound dressing format, in an emerging market," said Bernd Liesenfeld, Quick-Med's president. "India's large population, increasing investments in health care and fast growing wound care market represents a significant opportunity for Viridis to provide patients and caregivers with great a product, and to drive sales with our unique, value-added NIMBUS antimicrobial feature."
The NIMBUS technology is designed to prevent bacteria developing resistance, and avoid releasing toxic material into the wound, so there is no impeding the wound healing process. It is a novel antimicrobial technology: non-leaching and effective even in high concentrations of body fluids. NIMBUS technology is easy for the caregiver to implement as part of prophylactic care for patients at risk for infections.
As part of its commercialization efforts, Viridis BioPharma has sponsored clinical trials to demonstrate the efficacy of Microfoam dressings. "India tops the diabetes sufferers list as per World Health Organization (WHO) figures and consequently chronic diabetic wounds and ulcers. Quick-Med's NIMBUS Technology applied through Microfoam dressing shows remarkable relief in burn and wound cases and particularly in diabetic chronic wounds, as well as in venous and pressure ulcers, in an Indian clinical trial," commented Dr. Dilip Mehta, CEO of Viridis BioPharma Pvt. Ltd.
About NIMBUS
Quick-Med's patented technology, NIMBUS, is a cutting-edge antimicrobial technology that has been custom designed for wound care and other medical applications. NIMBUS received De Novo FDA clearance in 2009 and has been commercialized in traditional wound care applications. It is the only non-leaching antimicrobial dressing which, by design, poses no risk of bacteria developing resistance. NIMBUS technology is protected by twelve U.S. patents and patents pending and 24 foreign counterparts. Additional applications under development include advanced wound dressings, medical adhesives, catheters, and contact lenses.
About Viridis BioPharma Pvt. Ltd.
Through strategic associations with international pharmaceutical and biopharma companies, Viridis BioPharma Pvt. Ltd. commercializes products with therapeutic efficacy and growth potential in the Indian subcontinent and delivers a range of clinically-proven products to enable people to live better and more active lives. Viridis currently manufactures and markets a number of medical devices for companies, manufactured under license for B. Braun, American BioTech Labs, and Bhabha Atomic Research Center (BARC). For more information, see: www.viridisbiopharma.com
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USPTO Grants Quick-Med Tenth U.S. Patent for NIMBUS(R) Technology
New Patent Covers for NimbuDerm Hand Sanitizer and a Range of Other NIMBUS Antimicrobial Product Applications
GAINESVILLE, FL -- (Marketwire) -- 01/02/13 -- Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today that it has been awarded a tenth U.S. patent for its novel, non-leaching NIMBUS® antimicrobial technology.
The U.S. Patent and Trademark Office has granted Quick-Med Technologies U.S. Patent No. 8,343,523 titled, "Disinfectant with Durable Activity Based on Alcohol-Soluble Quaternary Ammonium Polymers and Copolymers." The new patent provides for a novel alcohol-soluble, water insoluble disinfectant for achieving a prolonged antimicrobial property to a variety of surfaces including skin. It covers the composition and method for several NIMBUS polyurethane quaternary applications including certain formulations of the Company's proprietary NimbuDerm™ hand sanitizer and a variety of NIMBUS applications including medical adhesives, foam wound dressings, sutures, catheters and other medical tubing.
"We are very pleased that the U.S. Patent Office has granted this tenth NIMBUS patent which further solidifies our leadership in non-leaching antimicrobial technology," said Bernd Liesenfeld, Quick-Med's president. "This new patent captures additional special characteristics of our unique NIMBUS technology and provides intellectual property protection for several key applications of our growing family of NIMBUS antimicrobial polymers."
About NIMBUS
Quick-Med's patented technology, NIMBUS, is a cutting-edge antimicrobial technology that has been custom designed for wound care and other medical applications. NIMBUS received De Novo FDA clearance in 2009 and has been commercialized in traditional wound care applications. It is the only non-leaching antimicrobial dressing which, by design, poses no risk of bacteria developing resistance. NIMBUS technology is protected by twelve U.S. patents and patents pending and 24 foreign counterparts. Additional applications under development include advanced wound dressings, medical adhesives, catheters, and contact lenses.
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Quick-Med Technologies Announces Further Expansion of Its NIMBUS(R) Technology Global Patent Portfolio
New Patents in India and China Plus Notice of Allowance in Canada Expand International NIMBUS Intellectual Property Coverage
Quick-Med Technologies, Inc. (OTCQB: QMDT), a life sciences company that is developing innovative technologies for the healthcare and consumer markets, announced today advances in patent coverage in India, China, and Canada for the Company's novel, non-leaching NIMBUS® antimicrobial technology.
The State Intellectual Property of the People's Republic of China and the Patent Office of India have granted Quick-Med Technologies' pending patent entitled "Disinfectant with Quaternary Ammonium Polymer and Copolymers" in their respective jurisdictions. Additionally, the Canadian Intellectual Property Office has issued a "Notice of Allowance" for this pending patent in Canada. These new patents will significantly expand the international intellectual property coverage for NIMBUS.
The three new patents are similar to U.S. Patent No. 8,088,400, also entitled "Disinfectant with Quaternary Ammonium Polymer and Copolymers." They cover the Company's novel polyurethane-modified polycation, the newest member of the NIMBUS technology family of antimicrobials. NIMBUS technology encompasses the chemistry of antimicrobials that comprise a high charge density polycation that is built into the backbone of various polymers such as polyurethane in this case.
The new patents are key "composition-of-matter" patents that cover incorporation of a NIMBUS polycation into main chain of a urethane polymer. The physical state of the polyurethane polycation can be modified to alter the strength of the antimicrobial, the breathability of the film or coating and its flexibility or rigidity. The patents provide protection for various claims regarding the efficacy and durability of an antimicrobial polyurethane.
"This patent adds an exciting new dimension to our NIMBUS technology," says Dr. William Toreki, co-inventor and Quick-Med's vice president of Research & Development. "Our new polyurethane polycation has been licensed for medical adhesives and is well suited for a wide range of applications including films and coatings, catheters and other types of extruded tubing, and as a durable hand sanitizer."
"These NIMBUS patents are strategically important because they significantly expand the global coverage for our proprietary NIMBUS technology into exciting and emerging markets," said Dr. Bernd Liesenfeld, Quick-Med's president. "NIMBUS technology can make an important contribution to infection prevention programs in each of these markets."
NIMBUS technology provides efficacy against a broad range of both Gram-positive and Gram-negative bacteria. NIMBUS antimicrobials are not depleted in use, maintain effectiveness even in the presence of large amounts of blood or body fluids, and by design, pose no risk of bacteria developing resistance.
NIMBUS non-leaching antimicrobial technology was cleared by FDA in 2009 and is the only non-leaching antimicrobial technology available in wound dressings. NIMBUS technology is protected by ten U.S. patents and patents pending and 24 foreign counterparts.
© 2012 Quick-Med Technologies, Inc. All rights reserved. NIMBUS® and Stay Fresh® are registered trademarks and NimbuDerm™ is a trademark of Quick-Med Technologies, Inc.
IWGRF.. $0.17.. New to the Under $0.25 Board.. IWG ANNOUNCES GROWING REVENUES AND OPERATING INCOME FOR THE THIRD QUARTER OF FISCAL 2013..
July 25, 2013 Burnaby, BC, Canada – IWG Technologies Inc. (IWG) today announced its financial results for fiscal 2013’s third
quarter ended June 30, 2013.
The Company is pleased to report third quarter revenue of $1,700,341, a 5% increase over last year’s figure of
$1,622,335. Income from Operating Activities was $344,998 vs. $38,401 in 2012 while net earnings were $180,891 compared to a $10,503 loss in 2012. These comparisons include a 2012 exceptional item of $294,666, or $210,392 after tax.
The nine month revenue was $4,886,746, a 12% increase over the comparable period of the prior year’s revenue of $4,354,909, with income from Operating Activities of $973,406 increasing 75% over the prior year’s nine month results when normalized by excluding the exceptional item noted above.
Net earnings for the nine months were $555,429, up 167% over last year.
This year’s third quarter results provided net earnings of 0.5¢ per share (1.5¢ year-to-date) compared to nil in the prior year (0.6¢ prior year-to-date), on both a basic and fully diluted basis. Detailed financial statements and MD&A will be available on www.sedar.com and the company website at www.iwgtech.com.
The results are summarized as follows:
Three month period ended Nine month period ended
June 30 June 30
Expressed in thousands of dollars 2013 2012 Change 2013 2012 Change
(except per share amounts)
Revenue $ 1,700 $ 1,622 5% $ 4,887 $ 4,355 12%
Gross profit 883 948 (7%) 2,529 2,328 9%
Operating income 345 38 798% 973 262 271%
Net income 181 (11) 555 208 167%
Net income per share 0.5¢ 0.0¢ 1.5¢ 0.6¢
EBITDA $ 299 $ 41 $ 927 $ 450
EBITDA per share 0.8¢ 0.1¢ 2.5¢ 1.2¢
“Third quarter results continue the Company’s growth in revenue and earnings which has been our focus during the year.” says Bruce Gowan, IWG’s Chairman.
“The third quarter results were impacted primarily by fluctuating after-market sales but the year-to-date results are
indicative of the overall growth of the business year-over-year” says Bruce MacCoubrey, President and CEO of International Water-Guard Industries Inc. “We are continuing our growth strategy of expanding existing product markets and providing new products to the industry”
IWG Technologies Inc. is the public holding company for International Water-Guard Industries Inc., a Canadian
aerospace company focused on aircraft potable water treatment, water systems, water heaters and components.
IWG has expertise in all aspects of water treatment, has the products and know-how to provide high quality water for passengers and crew, and lightweight, space-saving solutions for the aircraft operator.
On behalf of the Board of Directors
Bruce Gowan
Chairman of the Board