OTTAWA, Nov. 23, 2017 /CNW/ - Annidis Corporation (TSX Venture: RHA) ("Annidis" or the Company"). The unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2017, and the related Management's Discussion and Analysis are available at www.sedar.com.
Highlights
The Company shipped seven units in the third quarter of 2017 (five to Mistarunited Technology Co., Limited, its Chinese distribution partner and major shareholder, and two into the United States) compared to ten units in the corresponding period of 2016. Year to date, the Company sold 32 units in 2017 compared to 15 units in 2016.
The Company's sales efforts remain focused on:
Key Financial Metrics |
|||||||
Three months ended September 30 |
Nine months ended September 30 | ||||||
2017 |
2016 |
% |
2017 |
2016 |
% | ||
% | |||||||
As at September 30 |
|||||||
Installed Base (units in clinics) |
149 |
118 |
26.3 | ||||
$ |
$ |
% |
$ |
$ |
% | ||
Revenue |
513,070 |
540,669 |
(5.1) |
1,864,607 |
1,011,233 |
84.4 | |
Net loss |
(607,534) |
(1,023,842) |
40.7 |
(2,186,348) |
(3,521,812) |
37.9 | |
Net loss per share |
(0.01) |
(0.01) |
(0.02) |
(0.03) |
33.3 |
Financial Highlights
About Annidis Corporation
Annidis (TSX-V: RHA) has developed and manufactures and sells a new patented imaging platform technology based on Multi-Spectral Imaging ("MSI"). This new technology is opening a new frontier in disease identification and its management. The Annidis MSI technology allows eye-care professionals to view non-invasively the deepest areas of the eye aiding eye care professionals in the early identification and treatment of debilitating eye diseases. The Company's existing RHA Gold, used by eye care professionals as a broad based tool for detecting early-onset of eye related diseases such as Dry AMD, has a potential market of over 20,000 clinics in North America and further opportunities in China working with its distribution partner, Yimai Technology International Company. The RHA Platinum MD will further strengthen the value proposition allowing doctors to visualize choroidal and retinal vasculature non-invasively. The RHA Platinum MD has global market potential of more than 100,000 Ophthalmologists.
This news release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Statements made in this news release, other than those concerning historical financial information, may be forward-looking and therefore subject to various risks and uncertainties. The words "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective", "hope", and "continue" (or the negative thereof), and words and expressions of similar import are intended to identify forward-looking statements. Certain material factors or assumptions are implied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Factors that could cause results to vary include those identified in the Corporation's filings with Canadian securities regulatory authorities, as well as the applicability of patents and proprietary technology; the outcome of pending corporate transactions; possible patent ligation; regulatory approval of products in development; changes in government regulation or regulatory approval processes; government and third party reimbursement; dependence on strategic partnerships; intensifying competition; rapid technological change in the industry; anticipated future losses; the ability to access capital; and the ability to attract and retain key personnel. All forward-looking information presented herein should be considered in conjunction with such filings. Except as required by Canadian securities laws, the Corporation does not undertake to update any forward-looking statements; such statements speak only as of the date made.
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.
SOURCE Annidis Corporation
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