Snippets from Weaver ...
"- The company also has its GenSure! glucose test
strip, a product for off-shore sales which is complete and available for sales, but will primarily be sold as an
International private label market entry.
We have identified International distributors for this product. At the conclusion of the
respective clinical trials, the GenChoice! and GenPrecis! products will be registered in the EU, and applications for
510K pre-market will be filed with the FDA. The company has contracted with the expert organization that will
write the 510K document and prosecute these documents along with the company.
In early May 2018 the company completed testing on
a testing product, an outgrowth of its current technologies, for dogs and cats who need glucose monitoring. The
formal launch of this product, called PetSure!, will occur during the month of June 2018. We have appointed an
exclusive distributor for on-line sales of this product. In addition we plan to add PetSure! To our list of products
that Walmart Stores will sell as a part of our recent agreement with them.
- In March 2018 the company was contacted by the retail giant Walmart, who along with their acquired online
retailer Jet.com, are attempting to duplicate and surpass the Amazon portal. Our GenUltimate! products have
been sold on Walmart’s (and Jet’s) portals since November 2016. In the recent discussions Walmart offered us
preferential listings on portals and Walmart Depot stocking at their regional transit facilities. GenUltimate! will
now be sold by and shipped by Walmart, and shipments to diabetics will be fulfilled by Walmart. We accepted the
offer (who wouldn’t) and are changing our distribution agreement with Walmart (and Jet) in order that Walmart
will sell and fulfill our products directly. Walmart customers who receive standing orders for their J&J Lifescan test
strips will be a part of this new program. The company believes this to be a market enhancing deal since Walmart
will become both a “push” and a “pull” retailer. Subsequent to our Annual Report for 2017, we have made our first
shipments to all seven Walmart Depots, these depots located in different states (interestingly) than Amazon
depots serving the same purposes for sales through Amazon. No special pricing of our GenUltimate! has required
to implement this plan, owing, no doubt, to the footprint we have established on the on-line portals. We remain
reticent to place GenUltimate! on store shelves because of Walmart’s in-house pricing philosophy ($8.99 to $9.99
per retail box of test strips), which could and probably would ripple through the entire retail marketplace (on-line
and in-store sales) lowering average retail prices throughout. We plan to revisit this again when we launch our
GenChoice! product, which should bring more interesting opportunities our way.
- In mid-March 2018 the largest
US retailer agreed to raise the company’s standing to the highest retail “rung” by offering a new supplier contract
and also in March 2018 this retailer and its recently acquired wholesale products partner contacted the company
and want to discuss a much enhanced relationship beginning in early April 2018. Several follow up meetings have
taken place and this relationship is headed to a summer 2018 positive conclusion.
Subsequently we have taken this plan and approached or been approached by the second largest drug
chain (June 2018 meetings planned) and a large grocery chain (May 2018 meetings planned). To that end the
company has been granted Trademarks for two additional product families as our Hybrid Private Label business
model has gained traction.
We are in end stage discussions to add distributors in the Middle East and a chain store “big box” in
Mexico, Central and South America.
The company’s capacity for GenUltimate! production is now 625,000 packages
per month (50 count and 100 count packages), for the new GenSure! product 250,000 packages per month (25
count and 50 count packages) and the new GenChoice! product (initial) 150,000 packages per month (50 count and
100 count packages). Recently, a mega-retailer has requested minimum inventories of finished product of 350,000
units/boxes. We expect other retailers to make similar requests. The manufacture of GenUltimate! and GenSure!
are very similar and this capacity can be viewed as interchangeable. Similarly the manufacture of GenChoice! will
be similar to the manufacture of GenAccord! and GenCambre!
The company currently has three major private label targets, the largest drug store chain, another top-5
drug store chain, and the second largest grocery store chain. In addition, the private label packaging is being
offered to the largest drug store chains in Mexico and Canada. The Mexican chain, who also has numerous stores
in Chile and Argentina has moved quickly. However, in all cases the sales process is in the closing stages. Closes of
this nature, do however, take time. The company has Trademarked four product label groups for exclusive sales of
products to the private label concerns: Alltara!, Advant!, Infatig!, and Medicius!.
We also intend to add several brand-name
medical diagnostic and medical disposable products (lancets through our Firefly! Product, as well as
several lines of insulin syringes and pen needles"
"We need to push the barbarians back from the city gates."
