BioSig Technologies Chief Executive Officer Mr. Anthony Amato Issues the Following Letter to Shareholders
May 21 2024 - 11:10AM
BioSig Technologies, Inc. (Nasdaq: BSGM) (“BioSig” or “Company"), a
medical technology company delivering unprecedented accuracy and
precision to intra-cardiac signal visualization, has today issued
the following Letter to Shareholders:
Dear Shareholders,
As the new CEO of BioSig, I am committed to keeping our
shareholders updated to the best of my ability on the progress of
our Company. Our new management team is firmly committed to both
restoring and creating lasting shareholder value and we believe our
recent progress is the beginning of a successful foundation for
growth.
Over the past two months, BioSig has realized important and
material progress with respect to several corporate
initiatives.
The Company is pleased to introduce its newly assembled Board of
Directors, comprised of five highly qualified and talented
individuals with decades of experience in their respective fields,
including three independent directors, and the Company has fully
constituted each committee of the Board of Directors (Audit,
Compensation, and Nominating and Corporate Governance). The Company
is also in the process of assembling a revamped Business Advisory
Board, which will evaluate specific business opportunities as well
as possible mergers & acquisitions. It is the Company’s strong
belief that by attracting quality people, the best results will be
achieved.
While the Company’s operations were impacted for a brief period
by the changes in both the CEO position and the Board, the Company
continues to focus on its core business, the ongoing operations of
its PURE EP™ Biomedical Signal Processing Technology. The Company
still maintains active partnerships with some of the largest
well-known institutions in the electrophysiology space. The
Company is working with great urgency to demonstrate the value
proposition of its internal PURE EP platform, to both its
stakeholders and shareholders.
In addition, the Company believes that it has compelling
opportunities with other owned assets including, but not limited
to, the Artificial Intelligence (“AI”) space, specifically relating
to generative data compilation and potential commercialization
through proprietary algorithms specific to the interventional
cardiology sector. The Company, during the summer of 2023, issued a
number of press releases relating to AI initiatives and potential
partnerships. The Company owns multiple assets that management is
currently working towards potential monetization.
Additionally, the Company presented to the Nasdaq Hearings Panel
on Tuesday, May 7, 2024 as was previously disclosed to
shareholders. Representing the Company was a top advisory
firm well known for working on Nasdaq compliance matters.
Prior to the hearing, the Company was informed by Nasdaq Listing
Qualifications staff that it had regained compliance with the
minimum bid price requirement as set forth in Listing Rule
5550(a)(2). The Company addressed, at the hearing, the
remaining compliance issues and will update shareholders once the
Company receives further communication from the Nasdaq Panel.
I want to reiterate my commitment to restoring shareholder value
and will work tirelessly to achieve specific goals I set prior to
accepting the CEO position. I want to thank our supportive
shareholders for their patience and understanding as we move
forward.
Sincerely,
Anthony AmatoChief Executive Officer
About BioSig Technologies, Inc. (NASDAQ: BSGM)
BioSig Technologies is a medical technology company focused on
deciphering the body’s electrical signals, starting with heart
rhythms. By leveraging a first of its kind combination of hardware
and software, we deliver unprecedented cardiac signal clarity,
ending the reliance on ‘mixed signals’ and ‘reading between the
lines.’ Our platform technology is addressing some of healthcare’s
biggest challenges—saving time, saving costs, and saving lives.
The Company’s product, the PURE EP™ Platform, an FDA 510(k)
cleared non-invasive class II device, provides superior, real-time
signal visualization allowing physicians to perform highly targeted
cardiac ablation procedures with increased procedural efficiency
and efficacy.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995. Such statements may be preceded by the words "intends,"
"may," "will," "plans," "expects," "anticipates," "projects,"
"predicts," "estimates," "aims," "believes," "hopes," "potential"
or similar words. Forward-looking statements are not guarantees of
future performance, are based on certain assumptions, and are
subject to various known and unknown risks and uncertainties, many
of which are beyond the Company's control, and cannot be predicted
or quantified and consequently, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Such risks and uncertainties include, without
limitation, risks and uncertainties associated with (i) BioSig’s
ability to regain compliance with and meet the continued listing
requirements of the Nasdaq Capital Market to maintain listing of
its common stock; (ii) our cost reduction plan and associated
workforce reduction or other cost-saving measures not reaching the
targeted reduction of cash burn by 50%; (iii) the geographic,
social, and economic impact of pandemics or worldwide health issues
on BioSig’s ability to conduct its business and raise capital in
the future when needed; (iv) BioSig’s inability to manufacture its
products and product candidates on a commercial scale on its own,
or in collaboration with third parties; (v) difficulties in
obtaining financing on commercially reasonable terms; (vi) changes
in the size and nature of BioSig’s competition; (vii) loss of one
or more key executives or scientists; and (viii) difficulties in
securing regulatory approval to market BioSig’s products and
product candidates. For a discussion of other risks and
uncertainties, and other important factors, any of which could
cause BioSig’s actual results to differ from those contained in
forward-looking statements, see Biosig’s filings with the
Securities and Exchange Commission (“SEC”), including the section
titled “Risk Factors” in BioSig’s Quarterly Report on Form 10-Q,
filed with the SEC on May 20, 2024. Investors and security holders
are urged to read these documents free of charge on the SEC's
website at http://www.sec.gov. The Company assumes no obligation to
publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise, except as
required by law.
Todd Adler
Investor Relations
BioSig Technologies, Inc.
55 Greens Farms Rd
Westport, CT 06880
tadler@biosigtech.com
203-409-5444 ext. 104
Anthony Amato
Chief Executive Officer
aamato@biosigtech.com
203-409-5444 ext. 102
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