Dear Stakeholder;
Attached is a New Release outlining the closing of the private placement we announced on August 15th.
Here is some highlights:
1. Total of $1,011,500 raised in two tranches with no finders fees paid so all funds can go to continuing to improve heart diagnostics for all.
2. Insiders did about 1/3 of the round, which shows we believe the future is bright for the Company.
3. There was one new shareholder who did 50% of the round and he is very supportive of our Chinese initiative, which I hope to update you about in the near future. They have made steady (if slow) progress and are coming to a major milestone - more later.
4. On other news, we continue our marketing efforts and are pleased with the reception by the cardiologists. Apart from having now 16 quotes out, we have an additional 15 sites which have indicated they would like a sales call and a demonstration of the VMS. We will schedule these as soon as possible. You may remember that the new VMS3.0 will be portable and so doing demonstrations will be much easier.
5. The funds just raised along with sales will allow us to move forward and build awareness for the VMS. It will especially allow thought leaders in cardiology to present their experience with the VMS this fall at major cardiology conferences around the world in preparation for the launch of the VMS3.0 early in 2019.
Thanks for the continued support,
Regards,
George Adams, PhD, ICD.D
