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The PR mentions the FDA recalls, but I agree, it could explain the clinical complications particles cause I'm the blood stream. Blood tends to clot on foreign objects, so even tiny particles cause clotting complications. JNJ's Cypher stent was removed from the market because the coating was flaking off and causing complications.
I found this article in CathLabDigest which
provides some in-depth discussion of the effects of particle contamination in the circulatory system....it's really kind of scary how little a particle is needed to form a big thrombosis:
http://www.cathlabdigest.com/articles/Lint-and-Particle-Contamination-During-Diagnostic-and-Interventional-Procedures-Cardiac-Cat
Although complications are comparatively far fewer, interventional cardiac catheterization has its own set of complications that may include arterial or venous thrombosis, disseminated intravascular coagulation (DIC), foreign body embolization, phlebitis, endotoxemia, cardiac dysrhythmias, infection and restenosis. 1,3 These complications can be caused by the catheter itself, the balloon (or fragments thereof), any device being implanted such as a coil or stent, or, of course, poor technique. Complications may also be caused or exacerbated by foreign debris deposited on the inside or outside surfaces of the catheter and subsequently co-inserted into the bloodstream. Because of the direct vascular insertion and extensive surface area exposed, minimally invasive procedures conducted through the circulatory system may actually place the patient at greater risk of particulate-related complications. Investigators have demonstrated that contamination with lint, powder and other particulates may occur during procedural preparation or actual surgery. However, rarely are embolic clots, inflamed vascular walls or overgrown neointimal areas examined histologically to investigate the possible presence of microscopic condensation nuclei. Where histopathologic investigations have been performed, the results have been very illuminating and provide evidence-based precautionary recommendations for avoiding foreign debris-associated complications during cardiac catheterization as well as any other form of vascular catheterization.
Covalon Launches Centaur™ Low Particulate, Lubricious Coating for Medical Devices
April 27, 2017
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (COV.V), an advanced medical technologies company, today announced the launch of its new, Centaur™ low particulate, lubricious coating designed to improve the safety and functionality of intravascular medical devices such as catheters, guidewires and delivery sheaths where the presence of unwanted particulate can cause significant patient complications. In a third party in vitro simulated vascular insertion study designed to measure the levels of particulate, Covalon’s Centaur™ coating resulted in statistically significantly lower levels for all particulate sizes relative to the same uncoated catheter. This contrasts with other industry leading coatings that can generate nearly twice as many particles as the same uncoated catheter. Covalon’s Centaur™ coating technology specifically targets and is ideally suited for a growing segment of the medical coatings market focused on improving lubricity while maintaining coating durability.
“We are very excited about these results,” said Val DiTizio, Covalon’s Chief Scientific Officer. “Being able to show that a coated catheter can have fewer particles than even an uncoated catheter positions our patented technology ahead of the current leading medical coating processes.”
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="In November of 2015, the U.S. Food and Drug Administration (FDA) issued a safety communication regarding lubricious coatings separating from vascular access devices. It states that since January 1, 2010, there have been 11 recalls from various manufacturers associated with these coatings peeling or flaking off of medical devices. The majority of the recalls were associated with guidewires, but there have also been recalls for other types of devices including sheaths, retrieval devices and embolization device delivery wires used in the vasculature.1" style="margin: 0px 0px 1em;">In November of 2015, the U.S. Food and Drug Administration (FDA) issued a safety communication regarding lubricious coatings separating from vascular access devices. It states that since January 1, 2010, there have been 11 recalls from various manufacturers associated with these coatings peeling or flaking off of medical devices. The majority of the recalls were associated with guidewires, but there have also been recalls for other types of devices including sheaths, retrieval devices and embolization device delivery wires used in the vasculature.1
“The combination of recent recalls and a market for medical device coatings that is expected to grow to $15 billion by 2025, makes our launch of a highly differentiated medical coating like Centaur that has a potentially more favourable safety profile than its competitors an exciting opportunity for our coatings business,” said John R. Hands, Executive Vice President at Covalon. “Our new Centaur low particulate, lubricious coating can help medical device manufacturers introduce new lines of coated catheters, guidewires and stents that provide a higher level of confidence to clinicians when using their medical devices.”
Covalon collaborates with industry leading medical device companies to develop custom medical device coatings that offer a unique, strategic advantage for their product offerings. The proprietary CovaCoat™ and Centaur™ technologies provide a cost-effective coating process for exceptional functionality and performance for a variety of medical device surfaces.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan, "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. These forward-looking statements involve risk and uncertainties, including the difficulty in predicting product approvals, acceptance of and demands for new products, the impact of the products and pricing strategies of competitors, delays in developing and launching new products, the regulatory environment, fluctuations in operating results and other risks, any of which could cause results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. Many risks are inherent in the industry; others are more specific to the Company. Investors should consult the Company's ongoing quarterly filings for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. The Company assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm" type="text" content="1 http://www.fda.gov/MedicalDevices/Safety/AlertsandNotices/ucm473794.htm" style="margin: 0px 0px 1em;">1 http://www.fda.gov/MedicalDevices/Safety/AlertsandNotices/ucm473794.htm
View source version on businesswire.com: http://www.businesswire.com/news/home/20170427005896/en/
Infection Control Today giving some coverage to IV Clear and Covalon:
http://www.infectioncontroltoday.com/articles/2017/03/product-evaluation--purchasing-iv-and-catheterrelated-technology.aspx
COV.v: Listen to the replay of the CC, I don't think your assumption about the large increase in Sales and Marketing costs being one-time in nature holds true to what was said in the call, but I still think the growth and profitability are respectable....and believe it will prove t be undervalued if they deliver on their anticipated expansion of their product line in their current markets and expand geographically into other markets.
CC Replay available here:
http://ir.covalon.com/phoenix.zhtml?c=183092&p=irol-eventDetails&EventId=5233830#ccbn-event-detail
Quarterly CC Replay available here:
http://ir.covalon.com/phoenix.zhtml?c=183092&p=irol-eventDetails&EventId=5233830#ccbn-event-detail
Haha, thanks for that, if that's what it takes. I get a message saying it's been less than 30 days since my last application to moderate the board, so I need to wait until August 5th @ 3:09 pm.
I always get a message saying I need to make 4 recent posts before getting approved. Apparently my desire to not clutter message boards with worthless crap like this isn't valued by the click driven I-Hub revenue model, despite the fact I'm contributing actual factual content, lol!
I'd like to update the I=Box, but need 4 recent posts before I can be approved as moderator.
Yeah, the market seams to be in "wait and see" mode, but I think a couple more quarters like this, and/or news of renewals or expansion of their SA contracts, and/or further new contract announcements in new geographies could set this off on another run ....and I expect a couple of these issues could materialize over the next six months or so.
Here is the news about The University of Toronto research Covalon is participating in, using a proprietary peptide hydrogel that causes "skin cells to crawl together":
https://www.sciencedaily.com/releases/2016/12/161214090315.htm
That's probably the smartest course of action, as someone will likely knee jerk sell if Q4 comes in weak.
I also can't say I blame you for the lack of trust either, this management team hasn't exactly been the most investor friendly over the years, but it seems to me that their interests should now be aligned with the interest of all shareholders. Also, Brian has never given a hard figure for guidance, citing the unpredictability of their revenue streams, so I believe the shift to more contract-based business must be behind his change of attitude about providing guidance......but we shall see how that develops.
Good luck what ever you decide to do!
Did you notice their last PR gives revenue guidance of $20 M for 2017? It sounds like we shouldn't expect much for the coming 4th quarter, but the rest of 2017 should see triple digit YOY revenue comps.....which could really drive some share price appreciation if the company is able to preserve their gross margins and allow the additional revenue to fall to the bottom line:
Covalon CEO Provides Update on Anticipated Fiscal 2017 Financial Growth
Business Wire Business WireJanuary 3, 2017
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (COV.V), an advanced medical technologies company, announced today an update by the Company’s Chief Executive Officer on Covalon’s anticipated financial growth for fiscal 2017.
Brian Pedlar, Covalon’s CEO, stated:
“Covalon press-released a number of successes in 2016 that have truly transformed the Company, not only operationally, but financially as well. During its 2016 fiscal year ending September 30, 2016, Covalon focused heavily on the health care tender process in the Middle East and identifying the key public, government and private health care facilities that set standards of care in each specific region. The success of the strategy was to disrupt existing supply chains and replace them with Covalon products, based on the respective merits of our underlying technologies. These successes did not occur in time for us to financially impact our 2016 fiscal year that ended on September 30, 2016. However, their foundation will result in significant upside growth for us in fiscal 2017, which began October 1, 2016 and ends September 30, 2017.
“I reported in August of 2016 that Covalon had been awarded one-year tenders or contracts from the Ministry of Health in Saudi Arabia, with a minimum annual guaranteed value of over $11 million for the exclusive supply of Covalon’s advanced collagen wound dressing (ColActive Plus) and its anti-microbial silicone vascular access dressing (IV Clear). We reported at the time that these new contracts would occur in our fiscal 2017 year, in addition to the Company’s existing business in the region and in addition to other growth opportunities in the Middle East and Latin America.
“I am happy to report that we completed the first deliveries in our quarter ended December 31, 2016 and are on track to complete the remaining deliveries of product over the next three quarters of fiscal 2017. We expect these contracts to contribute a minimum total of $11 million of additional revenue in our fiscal 2017. Our quarter ended December 31, 2016 will be representative of the level of business we can expect throughout our fiscal 2017 and should allow us to achieve $20 million of revenue in 2017, a dramatic increase over anticipated fiscal 2016 revenue.
“Winning these tenders was a huge breakthrough for Covalon and validated our strategy to participate in government sponsored tenders, starting in the Middle East, by employing an aggressive brand awareness campaign and capturing market share from other multinational companies. Covalon’s products also received the support of key opinion leaders in the region who had evaluated Covalon products for over a year and ended up recommending them over the competition. For example, the key opinion leaders discovered that ColActive Plus helps to heal chronic diabetic wounds, which prevented the need for costly and debilitating limb amputations.
“We have begun implementation of this model in other countries in the Middle East, Latin America, Asia and Europe. We expect to continue to aggressively build a foundation in these markets during 2017, which we expect will begin to impact Covalon in a positive financial way in the second half of calendar 2017. In larger, more complex markets such as China, we continue to identify and assess the best course for Covalon to partner and position itself successfully.
“We have a small, stable base of advanced wound care business within the United States that has continued to grow each year, and is serviced through a network of third-party distributors. We expect double-digit growth in 2017 from this network, due to ongoing organic growth and the addition of net-new third-party distributors in late 2016.
“In 2016, we established a direct sales relationship in the United States with a small number of prestigious vascular access clinicians who have been using IV Clear successfully with pediatric and oncology patients to help protect them from incurring infections due to their treatments. We also established relationships with large distributors such as Medline Industries, Owens & Minor and others, who are offering IV Clear for sale directly to United States institutions. These relationships remove barriers to procurement of IV Clear that previously existed and makes it much more seamless for thousands of institutions to gain access to our product, from a procurement perspective. We are very excited about the continual traction of IV Clear in the United States and we intend to aggressively expand our distribution network for IV Clear in 2017.
“During the second half of calendar 2017, we anticipate receiving United States Federal Drug Administration (“FDA”) clearance for our new MediClear Pre-Op product, which is designed to help reduce the presence of microbial contamination on a patient’s skin prior to a surgical procedure. We expect MediClear Pre-Op to be transformative in the $2.8 billion pre-surgical skin antisepsis market because of its unique ability to protect a patient from exposure to bacteria and other harmful microbes.
“Covalon also continues to use an OEM revenue model based on selling or licensing its technologies to large medical companies. Covalon is sought out by market-leading companies in a variety of market segments for our expertise in developing new medical products. Many of our followers may not be aware that we also work with groups who are much larger than Covalon to assist them with various scientific and regulatory initiatives on a consulting basis. We are able to deliver differentiated products very cost-effectively based on our extensive intellectual property and know-how in getting combination medical devices advanced through the FDA regulatory process.
“Our new product development teams are also looking at technologies invented outside of Covalon. We have identified several third-party technologies that we believe have the opportunity to disrupt large markets, and that we can effectively and quickly commercialize. We encourage collaborative relationships with companies or inventors who may have developed disruptive, early-stage technology and require a strategic partner to help them manage their product’s road to commercial success.
“I am extremely confident in our business model and its ability to rapidly scale. We have earned the respect of the industry in which we operate from various perspectives, despite Covalon operating mainly in ‘stealth mode’, with limited marketing budgets and limited investments in promotion. Our aim has been to earn the respect of the key decision makers for each of the products we have developed based on the efficacy (the quality and performance) of our products, in order to generate commercial success. Being a micro-cap healthcare company means our products must speak for themselves. We have seen this lead to commercial success for us in targeted parts of the world. During 2017, this has already begun to translate to expected revenue streams and in turn value to our stakeholders.”
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
Based on this guidance, it appears the company actually is in a quiet period as well until.....apparently until they release the Q1 results in February:
http://www.equicomgroup.com/docs/10-EQ-Regulatory_Pulse-december-V6.pdf
I am holding to see what Q4 & Q1 will bring, I'm not really sure how much to expect for Q4 due to uncertain timing of Saudi contracts, but am definitely looking for that to ramp-up in Q1 with "product revenues" of at least exceed $3.5 million.
I am not pleased by the apparent drop in legacy sales (possibly domestic) in Q2 either, but I do have a high level of confidence in the Saudi Ministry of Health contracts and have confirmed with outside sources that the Ministry of Health is in fact quite impressed with Covalon's products and distribution partner.
Frankly, if all the promising statements in PRs from the summer are actually material, as I tried to confirm in one of the CCs, I expect to see substantially more than $3.5M in Q1 to demonstrate the "materiality" of all the statements the company has made in PRs about recent sales expansion including:
This from 5/19/2016:
Covalon's products are now immediately available in Argentina, Chile, Guatemala, Honduras, Nicaragua, El Salvador, Costa Rica, Panama and Puerto Rico.
Covalon expects to have its products cleared in Mexico, Colombia, Peru, Venezuela, Ecuador, Dominican Republic, Paraguay and Uruguay by the end of 2016. Regulatory clearance in Brazil is expected in 2017.
This from 5/24/2016:
"Covalon employed an aggressive brand awareness campaign in Saudi Arabia which resulted in our IV Clear, SurgiClear and ColActive Plus products achieving top brand recognition in their categories in major hospitals associated with the Ministry of Health", said Hamed Abbasian, Covalon's Vice President of Business Development. "IV Clear has been selected as the exclusive antimicrobial vascular access dressing in the Intensive Care Unit of one of the most influential hospitals in Saudi Arabia. The Diabetic Foot Department of King Fahd General Hospital in Jeddah, which is the reference hospital for the Saudi Arabian Ministry of Health for patients with diabetic foot conditions, considers ColActive Plus as the most advanced collagen dressing available in the market for treating chronic wounds. ColActive Plus and SurgiClear have been selected as winners of their respective categories in a major tender. These successes have resulted in Covalon growing its market share rapidly over the past year, while most other international wound care companies have seen declines in their business in Saudi Arabia."
Covalon has also been winning business in the private hospital market in Saudi Arabia. Covalon is the exclusive supplier of wound care products to the Health Oasis Hospital in Riyadh, a major private hospital in Saudi Arabia, considered as one of the most advanced long term care hospital in the Middle East. Because of the success of ColActive Plus in preventing the need for limb amputations on diabetic patients with chronic wounds, Covalon became one of the main suppliers of wound care products to the International Medical Centre hospital in Jeddah.
This from 5/31/2016:
Covalon has been awarded a tender for both IV Clear and SurgiClear products at the prestigious King Abdullah Medical City in Mecca, Saudi Arabia.
This from 6/15/2016:
"Hospital and clinic demand for IV Clear and SurgiClear has largely been the driver behind this opportunity with Medline," said Brian Pedlar, Covalon's Chief Executive Officer. "We expect to see increased sales of our products through this channel in the United States, and fully expect to grow our customer base of leading cancer treatment centers, pediatric hospitals, and wound care clinics because of our products' improved availability."
This from 9/13/2016:
“As we have consistently stated, Mexico is key to accelerating our business as Covalon enters the vast Latin American market,” said John R. Hands, Covalon’s Executive Vice President. “Covalon's products are uniquely positioned to address many of the product gaps currently found in the Latin American medical market, especially when one considers the explosion of diabetic-related wounds in the region”.
Covalon has already signed distribution agreements and commenced sales of its products in:
Argentina
Chile
Guatemala
Honduras
Nicaragua
El Salvador
Costa Rica
Panama
Puerto Rico
Covalon expects to have its products cleared by the end of 2016 in:
Colombia
Peru
Venezuela
Ecuador
Dominican Republic
Paraguay
Uruguay
So as I see it, when those Q1 numbers are released by the end of February, the company had better put up a really impressive top line results, or they will have stretched my patience too thin and lost my trust......but I am optimistic that won't be the case.
I understand how the return to silence here could be seen as ominois, but with the Saudi contracts assuring a minimum of 40% revenue growth y/y for the next year plus other possitive announcements of new distribution agreements, I am actually more optimistic than ever.
The quiet did cause me concern, so I returned to my resources of deeper due dilligence and found several reasons to affirm my optimism:
1.) This management team who has been conservative in increasing overhead expenses has hired a few new Directors of Business Development with strong credentials in key markets:
This person has extensive experience in Mexico...and it appears he is a former spine surgeon.
https://www.linkedin.com/in/everardo-de-la-rosa-md-32134777
This person has experience in UAE.
https://www.linkedin.com/in/moe-deib-a4693618
2.) They have jobs posted for Regulatory Affairs and QA, which would seam to indicate an increase in capabilities to bring their new products from their pipeline to the market:
http://www.covalon.com/careers/
We are currently seeking candidates for the following positions:
Director Quality Assurance (Mississauga, ON, Canada) - View Now
Director Regulatory Affairs (Mississauga, ON, Canada) - View Now
Regulatory Affairs Associate (Mississauga, ON, Canada) - View Now
Receptionist / Executive Administrative Assistant (Mississauga, ON, Canada)
While this is all circumstantial and speculative, based on past experience and familiarity with management, I believe it is idicative of a conservative management team building confidence in its increasing cash flows to implement it's expansion plans.....both by expanding distribution of current products....and increasing efforts to get new products through regulatory approval.
Really, I believe 2017 could finally be the brreakout year I've been waiting for here for about three years now.....we shall see soon enough.
I understand how the return to silence here could be seen as ominois, but with the Saudi contracts assuring a minimum of 40% revenue growth y/y for the next year plus other possitive announcements of new distribution agreements, I am actually more optimistic than ever.
The quiet did cause me concern, so I returned to my resources of deeper due dilligence and found several reasons to affirm my optimism:
1.) This management team who has been conservative in increasing overhead expenses has hired a few new Directors of Business Development with strong credentials in key markets:
This person has extensive experience in Mexico...and it appears he is a former spine surgeon.
https://www.linkedin.com/in/everardo-de-la-rosa-md-32134777
This person has experience in UAE.
https://www.linkedin.com/in/moe-deib-a4693618
2.) They have jobs posted for Regulatory Affairs and QA, which would seam to indicate an increase in capabilities to bring their new products from their pipeline to the market:
http://www.covalon.com/careers/
We are currently seeking candidates for the following positions:
Director Quality Assurance (Mississauga, ON, Canada) - View Now
Director Regulatory Affairs (Mississauga, ON, Canada) - View Now
Regulatory Affairs Associate (Mississauga, ON, Canada) - View Now
Receptionist / Executive Administrative Assistant (Mississauga, ON, Canada)
While this is all circumstantial and speculative, based on past experience and familiarity with management, I believe it is idicative of a conservative management team building confidence in its increasing cash flows to implement it's expansion plans.....both by expanding distribution of current products....and increasing efforts to get new products through regulatory approval.
Really, I believe 2017 could finally be the brreakout year I've been waiting for here for about three years now.....we shall see soon enough.
Doh! Is it too late to pick ARI to win and NYJ TO lose?
LAR to lose
NE to win, NYJ t lose
WAS to win, KC to lose. thanks.
Some background on the Golden Rose deposit referred to in the section about Canadian Continental:
http://www.ghosttownpix.com/ontario/towns/golden.html
Inventus Mining Provides Exploration Update
September 28, 2016
SUDBURY, ONTARIO--(Marketwired - Sep 28, 2016) - Inventus Mining Corp. (TSX VENTURE:IVS) ("Inventus" or the "Company") is pleased to provide an update on exploration activities on the Pardo Joint Venture ("JV"), which is 64.5% owned by Inventus, as well as our planned activities on our 100% owned Pardo properties, and exciting developments revitalizing our investment in Canadian Continental Exploration.
Pardo JV: Bulk-Sampling Program
As previously announced (news release dated August 11, 2016), our intention as operator of the JV was to carry out a bulk-sampling program in 2016. A corresponding program and budget was submitted to our partner on the JV Management Committee, Endurance Gold, on August 17, 2016. On September 2, 2016 we received a Notice of Arbitration from Endurance Gold seeking resolution to certain contested issues. As a result of an interim award from the arbitrator on September 14, 2016, the earliest possible start-date for the proposed program was postponed until October 24, 2016.
In response to these circumstances, Inventus decided that the best course of action was to delay the proposed bulk-sample and amend the 2016 program proposal to focus on better preparation for next year. We are pleased, however, that the amended program with a budget totaling $253,000 was unanimously approved on September 23, 2016. Work during the balance of 2016 will include two engineering studies looking at geostatistical analysis and ore sorting technologies, as well as other administrative expenditures. Later this year, Inventus plans to propose a program to the JV to conduct extensive fieldwork in 2017 including drilling and bulk-sampling.
100% Owned Pardo Property: Cobble Zone Drill Program
Diamond drilling at the recently discovered Cobble Zone (news release dated July 11, 2016) is scheduled to start in the second half of October and will test the extent of gold mineralization in both the stacked and basal conglomerate units in that area. The approximately 40 meter thick basal conglomerate unit, located earlier this year, is considered a priority target as it is the largest conglomerate unit encountered in all of the Pardo sediments to date. This conglomerate has a measured flow direction towards the SSW to SW and is observed to be 300 to 500 meters wide.
Previous sampling completed on the Cobble Zone at surface returned highly anomalous gold values and grab samples as high as 2.24 grams per tonne gold. The drilling of this wide basal conglomerate unit will target potential boulder conglomerate channels, which may contain higher-grade gold mineralization similar to that discovered on the Pardo JV property to the North.
Canadian Continental Exploration
Inventus is pleased to provide an update on the exploration drilling currently being carried out by our investee company, Canadian Continental Exploration Corporation ("CCEC"). Inventus is a major shareholder of CCEC, a privately held mineral exploration company with properties in Temagami Ontario and Chile, which was founded by Tom Obradovich, Patrick Anderson and Tim Warman. Inventus currently owns 7.15 million common shares representing approximately 18% of the shares issued and outstanding. Inventus also owns 5 million share purchase warrants.
CCEC has recently raised $760,000 and is currently planning to drill 8,000 meters or approximately 12 diamond drill holes on its Temagami area property. Large iron formations in the target area have demonstrated potential for iron formation-hosted gold deposits, such as the past producing Golden Rose deposit at nearby Emerald Lake. It is also possible that the large gold rich paleo-placer discovered by Inventus 12 kilometers away may have been originally sourced from gold bearing rocks associated with the same iron formations.
About Inventus
Inventus is a mineral exploration company focused on the world class mining district of Sudbury, Ontario. Our principal asset is the Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in the Americas. Inventus' significant share owners include Rob McEwen, Eric Sprott, Osisko Gold Royalties and management.
Qualified Person
The Qualified Person responsible for the geological technical content of this news release is Andy Bite, P.Geo., who has reviewed and approved the technical disclosure in this news release on behalf of the Company.
Gary Johnson is on the ballot in all 50 states, Gary has more executive government experience than both candidates, Gary represents some very interesting contrast in positions like wanting to balance the budget, term limits, being non-interventionist, and wanting to eliminate the income tax in favor of the FairTax proposal (HR 25).
We deserve to hear from all the candidates, but the bi-partisan debate commission doesn't want you to know there a is another credible candidate in this race.
August 22nd....one month ago.....hopefully we will hear some follow up about Perma-Fix Medical financing soon....and possibly also the high level waste project.
MIA to win, MIN to lose. Thanks!
BAL win, SF lose. Thanks.
Expanding markets: Covalon Establishes Key Distribution Channel in Mexico
Business Wire September 13, 2016
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (COV.V), an advanced medical technologies company, today announced that it has established a distribution channel for its products into Mexico’s advanced wound care and infection management markets.
Through a distribution arrangement with a partner company in Mexico, Covalon will be distributing Covalon-branded products, including Covalon’s CovaWound™ and ColActive® Plus advanced wound care lines and Covalon’s IV Clear™ and SurgiClear™ infection management products into Mexico.
“Mexico is a key market for Covalon,” said Brian Pedlar, Covalon’s Chief Executive Officer. “It is one of the largest and most sophisticated healthcare markets in Latin America. Our success in establishing this key distribution channel in Mexico will help drive increased sales of our products into other Latin American countries.”
“We are starting to implement in the vast Latin American market, the exact same strategy we have successfully implemented in the Middle East. Interestingly, the large contract awards Covalon recently won in the highly competitive Saudi Arabian market are definitely being noticed by medical thought-leaders in Latin America,” continued Pedlar.
“As we have consistently stated, Mexico is key to accelerating our business as Covalon enters the vast Latin American market,” said John R. Hands, Covalon’s Executive Vice President. “Covalon's products are uniquely positioned to address many of the product gaps currently found in the Latin American medical market, especially when one considers the explosion of diabetic-related wounds in the region”.
Covalon has already signed distribution agreements and commenced sales of its products in:
Argentina
Chile
Guatemala
Honduras
Nicaragua
El Salvador
Costa Rica
Panama
Puerto Rico
Covalon expects to have its products cleared by the end of 2016 in:
Colombia
Peru
Venezuela
Ecuador
Dominican Republic
Paraguay
Uruguay
Regulatory clearance in Brazil is expected in 2017.
With over 600 million people in Latin America and significantly higher rates of hospital-acquired infections as compared to the United States, Covalon's products will provide advanced options for Latin American clinicians to help reduce infections and promote the healing of chronic wounds when used as part of appropriate clinical protocols.
Covalon offers infection management and advanced wound management dressings for both acute and chronic wounds, and is the only provider of a dual antimicrobial silicone adhesive technology used in its IV Clear and SurgiClear brands. Both of these product lines offer superior efficacy in helping to prevent infections and medical adhesive skin injuries, while providing total insertion or incision site visibility to the healthcare provider.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
COV: Covalon Establishes Key Distribution Channel in Mexico
Business Wire September 13, 2016
MISSISSAUGA, Ontario--(BUSINESS WIRE)--
Covalon Technologies Ltd. (the "Company" or "Covalon") (COV.V), an advanced medical technologies company, today announced that it has established a distribution channel for its products into Mexico’s advanced wound care and infection management markets.
Through a distribution arrangement with a partner company in Mexico, Covalon will be distributing Covalon-branded products, including Covalon’s CovaWound™ and ColActive® Plus advanced wound care lines and Covalon’s IV Clear™ and SurgiClear™ infection management products into Mexico.
“Mexico is a key market for Covalon,” said Brian Pedlar, Covalon’s Chief Executive Officer. “It is one of the largest and most sophisticated healthcare markets in Latin America. Our success in establishing this key distribution channel in Mexico will help drive increased sales of our products into other Latin American countries.”
“We are starting to implement in the vast Latin American market, the exact same strategy we have successfully implemented in the Middle East. Interestingly, the large contract awards Covalon recently won in the highly competitive Saudi Arabian market are definitely being noticed by medical thought-leaders in Latin America,” continued Pedlar.
“As we have consistently stated, Mexico is key to accelerating our business as Covalon enters the vast Latin American market,” said John R. Hands, Covalon’s Executive Vice President. “Covalon's products are uniquely positioned to address many of the product gaps currently found in the Latin American medical market, especially when one considers the explosion of diabetic-related wounds in the region”.
Covalon has already signed distribution agreements and commenced sales of its products in:
Argentina
Chile
Guatemala
Honduras
Nicaragua
El Salvador
Costa Rica
Panama
Puerto Rico
Covalon expects to have its products cleared by the end of 2016 in:
Colombia
Peru
Venezuela
Ecuador
Dominican Republic
Paraguay
Uruguay
Regulatory clearance in Brazil is expected in 2017.
With over 600 million people in Latin America and significantly higher rates of hospital-acquired infections as compared to the United States, Covalon's products will provide advanced options for Latin American clinicians to help reduce infections and promote the healing of chronic wounds when used as part of appropriate clinical protocols.
Covalon offers infection management and advanced wound management dressings for both acute and chronic wounds, and is the only provider of a dual antimicrobial silicone adhesive technology used in its IV Clear and SurgiClear brands. Both of these product lines offer superior efficacy in helping to prevent infections and medical adhesive skin injuries, while providing total insertion or incision site visibility to the healthcare provider.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
OT: Don't let the "Allepo" GOTCHA get you, watch the entire interview to gain the context of what an abrupt change in topic it was, from a conversation about the campaign to "What would you do, if you were elected, about Aleppo?"
What's more, rather than lying or denying it, Gary owned the mistake and showed the honesty and integrity to confront it head on with this response that the mainstream media has ignored:
This morning, I began my day by setting aside any doubt that I’m human. Yes, I understand the dynamics of the Syrian conflict — I talk about them every day. But hit with “What about Aleppo?”, I immediately was thinking about an acronym, not the Syrian conflict. I blanked. It happens, and it will happen again during the course of this campaign.
Can I name every city in Syria? No. Should I have identified Aleppo? Yes. Do I understand its significance? Yes.
As Governor, there were many things I didn’t know off the top of my head. But I succeeded by surrounding myself with the right people, getting to the bottom of important issues, and making principled decisions. It worked. That is what a President must do.
That would begin, clearly, with daily security briefings that, to me, will be fundamental to the job of being President.
As the media tried to attack his reputation about it, The New York Times first called it the capital of Syria, then changed to call it an ISIS stronghold, before making a third correction to call it Syria's largest city.
Even holding Gary Johnson to a higher standard, what kind of journalist changes a topic like that without any logical segue?
If it's not clear, I think Gary Johnson and Bill Weld are our best choice we have this year. Trump's tariffs would obviously reap havoc on consumer pricing. Hillary's Exit Tax proposal would all but assure that the last little trickle of quality U.S. start-ups look to establish their headquarters north of the border or overseas. In contrast, Gary's support for the FairTax proposal (H.R. 25) could provide a better economic stimulus plan for small businesses than any "tax and spend" plan could ever "create". The American's for Fair Taxation completed a survey that showed more than 80% of multi-national companies would move to establish headquarters in the US and 50% would return some manufacturing to the US if the FairTax were implemented.
Many believe Bill Clinton's fiscal conservatism was at least in part inspired by the success of Ross Perot's third party campaign of financial reform, by that same thinking, we should hope to hear from Gary Johnson and Bill Weld in these debates to espouse the ideas of fiscal responsibility, free markets, and personal freedom......to at least give these ideas some voice in our otherwise dismal prospects of governance for the next four years.
I actually believe if he gets in those debates, Gary's message and modesty could actually appeal to the moderate majority of us who are disgusted by the two most unpopular candidates in history.....and who were nominated by only 9% of registered voters.
Doh, I rethought my losing choice, sorry.
PHL win / NYJ lose
EUO.v/EUCTF: Smart money @Credit Suisse is back on the buy with about 293,000 shares so far today.
For review, this stock:
1.) is trading near it's current cash value,
2.) has $9 million in guaranteed minimum future royalties from their Swiss partner, SICPA, which also has significant potential upside;
3.) has R&D with worlds largest and most innovative precision agriculture company, Netafim, to bring EDXRF real-time analytical data to the agriculture industry: http://www.netafimusa.com/agriculture
4.) developing new semiconductor inspection and metrology tool for the transformative stacked semiconductor industry in cooperation with "several of the largest global companies that participate in this market".
EUO.v/EUCTF: This little lul in activity and sell off by impatient traders could prove to be a great opportunity for more patient investors who can see the value in this company's pipeline of opportunities.
While the company waits for SICPA to make sales of their Petromark fuel marking solution, they have two other transformative applications of their technology in development with respective leaders in those fields.
1.) Their work with Netafim in precision agriculture, particularly the development of the ability for EDXRF to quantify nitrogen concentrations would be a major break through for the entire XRF market place, where several other much larger competitors have not been able to accomplish this capability, and where the technology would truly be transformative to the agriculture industry, allowing real-time decision making on crop management, as opposed to sending samples to the lab and awaiting results before making soil-specific fertilizer recommendations.
2.) The company's description of XwinSys from the MD&A sounds impressive and suggests it is at the forefront of it's field:
.....Testing of the XwinSys NMT technology has demonstrated superior performance for a wide variety of semiconductor applications. XwinSys continues to perform advanced demo applications for its prospective semiconductor customers with several of the largest global companies that participate in this market.
A little snooping on XwinSys employee profiles on LinkedIn satisfied me that "several of the largest global companies" are indeed engaged with the company.
I looked at the profile of Doron Reinis, CEO of XwinSys and Xenemtrix operating companies, who asked to "connect" with me on LinkedIn. We had an interesting little back and forth about XwinSys, basically they have two operating prototypes of their Onyx Semiconductor inspection system, one in "development" and another for "testing" with prospective customers. Doron told me they are working with some of the largest semiconductor companies in the world on testing the Onyx, but he couldn't tell me who, so I decided to browse his other "Connections" on LinkedIn and here are some of the more interesting titles and employers I found:
- Open Innovation and Global Strategic Alliance Manager at Samsung Electronics Mobile R&D
- General Manager and Vice President at KLA-Tencor
- Director, Engineering at Qualcomm
- VP Semiconductors and Clean technologies at Yaskawa Europe Technology
- 4 mid-level connections at Intel including "Integration Manager at Intel Corporation"
- VP Semiconductors and Clean technologies at Yaskawa Europe Technology
There are a few things to look forward to here possibly before 2016 is ended:
1.) This from the MD&A suggest XwinSys could have some positive developments before the year is out:
The Company has budgeted to invest up to US$2.0 million in fiscal 2016 to advance XwinSys towards achieving certain milestones, and depending on the outcome of these milestones, the Company may begin commercial production in late 2016.
2.) This from today's PR suggests more information about Netafim's intentions could be known before year end: "Field trials will commence in the second half of 2016 with a current view to commercialization mid 2017."
3.) SICPA's Director on EUO's BOD is quotes as saying "....Synergies have been identified as foreseen at the time of acquisition and which should indeed have positive impact....." Many governments implement fuel marking covertly, so it is difficult to tell exactly what opportunities may be open to them.
One opportunity that does have some public information available is the Philippines Bureau of Customs (BOC), which is overdue to make a decision on a new fuel marking program, which it estimates would cost $25M/year, which would be enough to drive SICPA's 5% royalty payments over the minimum $1.5 million:
http://www.bworldonline.com/content.php?section=Economy&title=customs-bureau-will--revive-fuel-marking-as-smuggling-deterrent&id=126600
Eurocontrol Reports Second Quarter 2016 Results and Provides Update
August 29, 2016
TORONTO, ONTARIO--(Marketwired - Aug 29, 2016) - Eurocontrol Technics Group Inc. (TSX VENTURE:EUO)(EUCTF) ("Eurocontrol" or the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative security, authentication, verification and certification technologies, announces that it has filed its interim financial statements and Management's Discussion and Analysis ("MD&A") for the second quarter ended June 30, 2016.
The second quarter results reflect a 17% increase in fiscal year revenue, excluding discontinued operations, to $696,853 compared to $593,308 ($2,748,110 including discontinued operations) for the six month period ended June 30, 2016. The Company recognized EBITDA of $16,032,998 ($546,164 as at June 30, 2015) and a gain on the sale of its former subsidiary of $16,484,172 ($Nil in 2015) resulting in net income of $13,731,419 for the six months ending June 30, 2016 (net income of $439,460 in 2015). Included below is a summary table outlining earnings for the second quarter of 2016 compared to the corresponding 2015 period which is followed by a description of recent developments. Subsequent to the end of the second quarter, the Company received the first of the guaranteed earn-out payments of $750,000 from SICPA SA.
On January 4, 2016, the Company closed the sale of its wholly owned subsidiary, Global Fluids International (GFI) S.A. ("GFI") to SICPA Finance SA ("SICPA"), a subsidiary of SICPA SA, each a privately owned company based in Switzerland, in exchange for cash and post-closing earn-out payments and certain additional payments. In accordance with International Financial Reporting Standards ("IFRS"), the second quarter 2016 financial statements and MD&A are presented on an adjusted basis to include discontinued operations. For a reconciliation of discontinued operations, readers should refer to MD&A sections "Adjusted Revenue and Profit from Continuing Operations" and "Reconciliation of IFRS to Adjusted Results".
Operations Update
In addition to its core customer base, Xenemetrix has a long term supply and support agreement with SICPA to supply ED-XRF equipment to support Petromark™ fuel marking technology which relies on Xenemetrix ED-XRF technology to detect Petromark™ fuel markers. Sales in the first half of 2016 increased 17% to $696,853 over 2015. In the first half of 2016, Eurocontrol invested $581,210 in research and development to update existing Xenemetrix product lines, to develop new products and solutions for field applications and to enhance its manufacturing facilities and its quality control processes. This investment has been made to ensure that Xenemetrix maintains its position as a leader in the ED-XRF technology field and can continue to meet the high manufacturing and systems integration standards that its customers have come to expect. It is anticipated that sales for the balance of 2016 will remain consistent with 2015 revenue numbers with an increase anticipated in 2017 as SICPA gains market acceptance with its clients for the Petromark™ technology, the updated product line is rolled out and the expansion into the field of precision agriculture solidifies. Earlier this year, Xenemetrix announced that it had entered into a Memorandum of Understanding with Netafim, an Israeli company that is the global leader in drip and micro-irrigation solutions for Eurocontrol sustainable agricultural productivity, to develop a unique and innovative testing system utilizing Xenemetrix's ED-XRF technology for farmers and the greater farming community. Thus far the equipment solution and its calibration to the precision agriculture business has exceeded Netafim's test parameters. Field trials will commence in the second half of 2016 with a current view to commercialization mid 2017. Xenemetrix remains focused on the development of new applications for its ED-XRF and establishing new marketing and distribution agreements in various regions.
In the first half of 2016, Eurocontrol invested $1,038,635 in research and development in XwinSys towards the development of equipment that combines ED-XRF and automated 2D and 3D image processing technologies for use in the semiconductor and related microelectronics industries. Earlier in 2016, XwinSys announced the finalized integration of its NMT (Noise-reduced Multilayer Thin-film Measurement System) technology (featured in Solid State Technology magazine) to respond to the evolving metrology and inspection needs of the semiconductor industry due to the advent of 3D stacking structures for continued miniaturization of devices at an affordable cost. In May 2016, XwinSys was granted a US patent on this unique multi-mode technology system that meets both fast in-line and in- depth metrology challenges without interrupting process flow. The XwinSys solution overcomes limitations of current technology that is used to measure thin and ultra-thin films, which can be a single layer of atoms of a specific material, and are a critical component in the construction of advanced semiconductor devices. With the XwinSys solution now finalized and demos, including the unveiling of the technology at SEMICON West earlier this summer where significant interest was generated, the XwinSys team is making good progress towards commercialization of this disruptive technology that replaces the need for off-line analytical tasks.
Bruce Rowlands, Chairman and CEO stated, "Like the first quarter of this year, these results reflect operations without our former subsidiary GFI, as Eurocontrol continues a year of transition. Our planned investments in Xenemetrix's ED-XRF technology platform and XwinSys' patented hybrid microelectronics verification technologies, including the new 3D stacking verification system, introduced at SEMICON West in San Francisco last month are progressing well. We believe that these investments, our relationship with SICPA and our focus on acquisition opportunities will provide us with new technology, as well as new applications and markets."
Gilles Léraillé, a recently appointed Director of Eurocontrol and CEO and member of the board of SICPA Global Fluids Integrity stated, "Since the acquisition of GFI in early 2016, SICPA has been working to integrate the Petromark™ fuel marking solution into the broad portfolio of Track and Trace technologies which it is offering to governments. Synergies have been identified as foreseen at the time of acquisition and which should indeed have positive impact. With the support and the on-going improvements of the existing detectors by Xenemetrix, this should ensure for SICPA-GFI a continuing competitive edge."
Second Quarter 2016 Financial and Operating Highlights *
Investment in R&D increased by 202% to $1,619,845
Working Capital of $14,753,995 compared to $4,001,621 in December 31, 2015, a 269% increase
The Company has no debt, compared to $975,741 in 2015
Gross profit of $208,003 compared to $220,991 (does not include discontinued operations), a decrease of 6%
Recognized EBITDA of $15,799,460 compared to $761,233 in 2015
Recognized income of $13,731,419 compared to $439,460 for the 2016 six month period
Three Months Ended
June 30, Six Months Ended
June 30,
2016 2015 2016 2015
$ $ $ $
Revenue:
- from continuing operations 394,180 266,711 696,853 593,308
- from discontinued operations - 1,450,979 - 3,055,681
Total revenue 394,180 1,717,690 696,853 3,648,989
Cost of sales:
- from continuing operations
Cost of sales - direct production costs (227,616 ) (147,258 ) (400,153 ) (283,620 )
Cost of sales - amortization and other non cash items (44,348 ) (44,349 ) (88,697 ) (88,697 )
(271,964 ) (191,607 ) (488,850 ) (372,317 )
- from discontinued operations
Cost of sales - direct production costs - (524,718 ) - (1,024,020 )
Cost of sales - amortization and other non cash items - (68,952 ) - (137,905 )
- (593,670 ) - (1,161,925 )
Gross profit - continuing operations 122,216 75,104 208,003 220,991
Gross profit - discontinued operations - 857,309 - 1,893,756
Expenses - continuing operations (1,746,322 ) (960,431 ) (3,701,353 ) (1,652,214 )
Expenses - discontinued operations - (205,390 ) - (343,484 )
Other (expense) income - continuing operations 164,599 443,534 532,597 276,898
Other (expense) income - discontinued operations - (308,068 ) - 58,742
Income tax recovery - continuing operations 208,000 - 208,000 -
Income tax expense - discontinued operations - (8,864 ) - (15,229 )
Gain on sale of subsidiary - discontinued operations - - 16,484,172 -
Net income (loss) - continuing operations (1,251,507 ) (441,793 ) (2,752,753 ) (1,154,325 )
Net income (loss) - discontinued operations - 334,987 16,484,172 1,593,785
Net income (loss) (1,251,507 ) (106,806 ) 13,731,419 439,460
EBITDA (1,589,489 ) 53,619 15,799,460 761,233
EBIT (1,646,376 ) (81,913 ) 15,686,304 487,907
About Eurocontrol Technics Group Inc.
Eurocontrol is a TSX Venture and OTCQB traded company that specializes in the acquisition, development and commercialization of innovative authentication, verification and certification technologies. Eurocontrol has two wholly owned subsidiaries, Xenemetrix Ltd. and XwinSys Technology Development Ltd. and an agreement with SICPA S.A. for earn-out payments of 5% (minimum $9 million) on revenues generated from the oil and gas marking and monitoring field relating to the sale of its former subsidiary Global Fluids International (GFI) S.A. Xenemetrix is a leading designer, manufacturer and marketer of ED-XRF systems, a technology that is the most accurate and economic method for determining the chemical composition of many types of materials, including the analysis of petroleum oils and fuel. Xenemetrix has an exclusive long-term supply, maintenance and support agreement with SICPA/GFI to supply SICPA/GFI with Xenemetrix products and services related to the oil and gas marking and monitoring field. XwinSys is in the final stage of developing a fully automated metrology system for the semiconductor industry that combines 2D and 3D image processing technology with Xenemetrix's ED-XRF technology.
For further information on Eurocontrol, please visit the Company's website at www.eurocontrol.ca
COV.v: I wasn't impressed with the Q3 results, but the future still looks bright with the Saudi Arabian tender wins with a guaranteed minimum of $11.1 M of product deliveries over the next year, which assure revenue growth of at least 60% over the next year.
As far as the CC went, it was me that asked about the timing of the $1.9M Saudi order and jumped to the wrong conclusion about the revenue recognition being delayed until the 4th quarter, when it was actually included in the 3rd quarter revenues.
I asked the question because I am concerned that the remaining $650k in "product sales" from Q3 and the abysmal $469,600 of product sales from Q2 represent a significant loss of revenue from last years Q2 & Q3, both quarters that saw product sales revenues of more than $1.74M. I regret that I got sidetracked and didn't get to ask other questions I had about the apparent decline in revenue, but I'll have to presume the answers would have been the same as when I asked about the revenue decline last quarter, that "revenues are lumpy" because "customers sometimes delay orders at the end of quarters" and "customers may have accumulated inventories" that need to be sold through, but this second quarter in a row of an apparent $1M drop in baseline revenues is a bit concerning to me, since Brian has previously said that these Saudi orders represented new business that wasn't contributing to the revenues in previous quarters.
I don't want to over emphasize the negative implications here though, after all, even in the worst case scenario that the company losses all of it's former customers and only sells the guaranteed minimums under the Saudi contract for the next year, that $11.1M alone still assures a healthy 60% growth rate over the trailing twelve months. There's also plenty of upside for those minimums to be exceeded in Saudi Arabia, along with the other positive growth opportunities in the U.S. with Medline; the other middle east countries of Quatar, UAE, and Iran; and the expansion into Central and South America. I am actually expecting sales growth of greater than 100%for at least a few quarters last year, even with the apparent decline in the baseline revenues.
I still think this is a great opportunity for what will be one of next years big growth stories as those future quarters sales are reported....and sales momentum in the region appears to be building.
PESI CC: It will be interesting to hear how the high level waste treatment contract is progressing, as well as the medical division. The high level waste treatment story seams to have given the stock a life of its own, independant of earnings now, and I believe some good news there could drive PESI up by multiples.....when the DOE is ready to discuss it.
Hey littlefish, same to you with CUO, your great DD led to a nice return here. I had a hard time getting excited about the concrete business, but it has lead to some solid profits (pun intended)!
COV just released a lackluster 3rd quarter report, but it seams the market is now looking forward to the Saudi contracts there. I'm a bit disappointed with the top line growth relative to the $1.9M order from Saudi Arabia, which implies they only made $700K from their other business, which had been running at about $1.8M for three quarters last year. I'll have to wait and see what is said on the call Monday before I have a really know how to feel about the situation there.
COV.V: Agree, triple digit revenue growth is now a guaranteed minimum over the next year. This is not "sell the news" kind of news, this is more like "buckle up and hold on to your hat" kind of news!
COV.v: Covalon Wins Another $3.5 Million Twelve Month Contract to Supply IV Clear Vascular Access Dressings to Saudi Arabia
Covalon Wins Another $3.5 Million Twelve Month Contract to Supply IV Clear Vascular Access Dressings to Saudi Arabia
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced that it has won another major contract to supply its IV Clear antimicrobial silicone vascular access dressing to Ministry of Health facilities in Saudi Arabia at a minimum guaranteed value of $3.5 million over twelve months.
The contract is for a term of one year and delivery of the products under the contract are expected to commence within the next four months. IV Clear will be used on adults and children to help protect them from infections arising as a result of intravenous catheters, such as IV catheters, central venous lines, peripherally inserted central catheters, hemodialysis catheters, other intravascular catheter and percutaneous devices.
“This contract award is massively significant for Covalon in Saudi Arabia and further strengthens Covalon as a major player in the Middle East,” said Brian Pedlar, Covalon’s Chief Executive Officer. “We fully expect to leverage the minimum commitment of $3.5 million into additional IV Clear revenue in Saudi Arabia. The win validates Covalon’s antimicrobial technology and will help us secure other contracts in the region and world-wide.”
IV Clear is the only antimicrobial clear silicone vascular access dressing that combines silver and chlorhexidine to provide broad-spectrum antimicrobial activity for 7 days. The soft silicone adhesive provides greater patient comfort, does not macerate or damage the skin, and was shown to be up to 10 times less painful upon removal when compared to acrylic adhesives.
In addition to IV Clear, Covalon markets a full line of advanced wound management dressings for both acute and chronic wounds under its ColActive Plus and CovaWound brands. As well, Covalon is also the only provider of a dual antimicrobial silicone adhesive surgical dressing called SurgiClear, which is designed to protect surgical incisions by helping to prevent infections and medical adhesive skin injuries, while providing total incision site visibility to the healthcare provider.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
Covalon Wins Another $3.5 Million Twelve Month Contract to Supply IV Clear Vascular Access Dressings to Saudi Arabia
Covalon Wins Another $3.5 Million Twelve Month Contract to Supply IV Clear Vascular Access Dressings to Saudi Arabia
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced that it has won another major contract to supply its IV Clear antimicrobial silicone vascular access dressing to Ministry of Health facilities in Saudi Arabia at a minimum guaranteed value of $3.5 million over twelve months.
The contract is for a term of one year and delivery of the products under the contract are expected to commence within the next four months. IV Clear will be used on adults and children to help protect them from infections arising as a result of intravenous catheters, such as IV catheters, central venous lines, peripherally inserted central catheters, hemodialysis catheters, other intravascular catheter and percutaneous devices.
“This contract award is massively significant for Covalon in Saudi Arabia and further strengthens Covalon as a major player in the Middle East,” said Brian Pedlar, Covalon’s Chief Executive Officer. “We fully expect to leverage the minimum commitment of $3.5 million into additional IV Clear revenue in Saudi Arabia. The win validates Covalon’s antimicrobial technology and will help us secure other contracts in the region and world-wide.”
IV Clear is the only antimicrobial clear silicone vascular access dressing that combines silver and chlorhexidine to provide broad-spectrum antimicrobial activity for 7 days. The soft silicone adhesive provides greater patient comfort, does not macerate or damage the skin, and was shown to be up to 10 times less painful upon removal when compared to acrylic adhesives.
In addition to IV Clear, Covalon markets a full line of advanced wound management dressings for both acute and chronic wounds under its ColActive Plus and CovaWound brands. As well, Covalon is also the only provider of a dual antimicrobial silicone adhesive surgical dressing called SurgiClear, which is designed to protect surgical incisions by helping to prevent infections and medical adhesive skin injuries, while providing total incision site visibility to the healthcare provider.
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com
COV.v/CVALF: Covalon Wins $7.6 Million Twelve Month Contract to Supply ColActive Plus Advanced Wound Care Dressings to Saudi Arabia
Covalon Technologies Ltd. (the "Company" or "Covalon") (TSXV: COV), an advanced medical technologies company, today announced that it has won a major contract to supply its advanced ColActive Plus and ColActive Plus Ag wound care dressings to Ministry of Health facilities in Saudi Arabia at a minimum guaranteed value of $7.6 million over twelve months.
The contract was awarded to Covalon through the Executive Board of Health Ministers’ Council for GCC States (called “SGH”). The SGH contract was awarded to Covalon following a highly competitive bidding process that resulted in Saudi Arabian wound care physicians selecting Covalon’s ColActive Plus product line as its exclusive advanced collagen wound dressing.
The contract is for a term of one year and delivery of the products under the contract are expected to commence within the next four months.
“This win is a huge breakthrough for Covalon and will have significantly positive implications for us worldwide, not just in Saudi Arabia and the Middle East,” said Brian Pedlar, Covalon’s Chief Executive Officer. “This major win clearly demonstrates that Covalon's growth plan is working.”
Prior to making their decision to select ColActive Plus, leading wound care physicians in Saudi Arabia trialed ColActive Plus products for over a year.
“The Saudi Arabian key opinion leaders selected our product because of their efficacy in helping to heal chronic, diabetic wounds,” said Pedlar. “To be able to win this highly prized competition in Saudi Arabia clearly demonstrates how amazing Covalon's wound care technology really is.”
In addition to ColActive Plus, Covalon markets a full line of advanced wound management dressings for both acute and chronic wounds under its CovaWound brand. As well, Covalon is also the only provider of a dual antimicrobial silicone adhesive technology used in its IV Clear and SurgiClear brands of infection management dressings. Both of these product lines offer superior efficacy in helping to prevent infections and medical adhesive skin injuries, while providing total insertion or incision site visibility to the healthcare provider.
Conference Call
The Company has scheduled a conference call to be held Thursday, August 4, 2016 at 9:00 a.m. EDT to further discuss the tender contract to supply ColActive Plus in Saudi Arabia. To participate in the call please dial:
Local / International: 416-640-5946
North American Toll- Free: 1 866-233-4585
About Covalon
Covalon Technologies Ltd. researches, develops and commercializes new healthcare technologies that help save lives around the world. Covalon's patented technologies, products and services address the advanced healthcare needs of medical device companies, healthcare providers and individual consumers. Covalon's technologies are used to prevent, detect and manage medical conditions in specialty areas such as wound care, tissue repair, infection control, disease management, medical device coatings and biocompatibility. To learn more about Covalon, visit our website at www.covalon.com