maybe I am the negative nelly in the crowd … this would have been the perfect oppy to state 2019 numbers - had they met projections - and blow this thing sky high.
SANUWAVE Completes Offering, Funding Allows Path to Profitability in 2020
BY GlobeNewswire
— 8:00 AM ET 02/06/2020
SUWANEE, GA, Feb. 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – SANUWAVE Health ( SNWV
), Inc. is excited to announce the completion of our follow on equity offering. The combined offerings have brought over $5 million of investment capital to the company between the December 2019 and January 2020 closes. The funding allows SANUWAVE a path to reach profitability later this year. The offering was led by new institutional investors.
Kevin A. Richardson II, Chairman of the Board and CEO of SANUWAVE, stated, “Completion of the funding provides the resources needed to reach profitability during the 2020 calendar year as we accelerate the roll out of the dermaPACE® Systems in the United States. Our goal is to add an additional 300 placements during 2020, leading to accelerating revenue throughout the year and achieving breakeven during the year. The institutional investors spent many hours talking to clinicians, competitors, and customers during their due diligence to gain comfort with the roll out and commercialization plan being implemented at SANUWAVE. These funds allow us to ramp up internally and continue to fill open positions and build the infrastructure necessary to achieve our ultimate goal of having a dermaPACE device placed anywhere and everywhere a wound is treated.”
