BioCorRx, Inc. CFO, Lourdes Felix discusses 10-K Filing for 2013
April 15 2014 - 4:31PM
BioCorRx, Inc. (BICX), a leader in addiction treatment
programs, announces its financial results for the 12 months ending
December 31, 2013. The full 10-K filing is available on the
SEC's website at http://edgar.sec.gov/
An audio interview with Lourdes Felix, CFO and Brady Granier,
COO is available by clicking here. The audio clip gives
investors an overview of the 2013 results as well as expectations
for 2014.
Due to the unpredictable nature of insurance billing and
reimbursements, the earnings reported vary from what was projected
earlier in the year. "We did have substantial discounts that
we had to book at the end of the year, but overall we were quite
happy with the revenues generated in 2013", stated CFO Lourdes
Felix. The Company was able to sign several licensing deals
in 2013 that generated significant cash flow for the year.
These licensing deals also show a promising potential for growth in
2014. "Because of the cash flow influx last year we were able
to pretty much sustain ourselves and pay our monthly obligations,
so that made us feel very good about the direction the company was
going in. We did not have to go out and borrow any funds or
get into any type of heavy contracts [in 2013]", says Felix.
The Company made significant operating changes over the course
of 2013, which puts them in an advantageous position for the coming
year. "We've never been on more sound footing than we are now
as a company, 2013 was a monumental year for us", states COO Brady
Granier. In early 2013 the Company was operating out of only
one clinic. Going into 2014, five clinics are currently open
and operating. Additionally the licensees from those clinics
have been so pleased with their results that they are looking to
open more clinics in their territories in the coming weeks and
months. The Company also has signed LOI's with two of the
licensee groups to expand their territories. "A lot of the
changes that took place in 2013 are setting us up to build
distribution in 2014", says Granier. Specifically, now that
the Company has a significant footprint across the United States it
makes sense to expand their marketing plan and media coverage to
turn Start Fresh into a household brand. One of the most
significant announcements the Company has made, is their plan to
acquire the formula for the naltrexone implant from Trinity RX
Solutions. This would be a major step in the company's future
plans to seek FDA approval on the implant itself, which would be a
significant milestone for future growth. "We are currently
working on adopting a strategy to take to the FDA. Our plan
would be to submit for a meeting with [them] later this year", says
Granier.
Click here to view Recent National Television Media on the
BioCorRx YouTube Channel
About BioCorRx, Inc.
BioCorRx, Inc. (OTCQB: BICX) is an addiction
treatment and rehabilitation company on the leading edge of
substance abuse addiction treatment. The company has developed a
highly effective program called the Start Fresh ProgramTM
consisting of two components used by various addiction clinics in
the US. Clinic reports show that the treatment program has an 85%
success rate with individuals that complete the program. The first
component of the program consists of an outpatient implant
procedure performed by a licensed physician that delivers
therapeutic levels of the drug Naltrexone, an opioid antagonist
that significantly reduces physical cravings for alcohol and
opioids, into the body. The second component of the program
developed by BioCorRx, Inc. is a one on one coaching program
specifically tailored for the treatment of alcoholism and other
substance abuse addictions. For more information on BICX, visit
www.BioCorRx.com
Safe Harbor Statement
The information in this release includes
forward-looking statements. These forward-looking statements
generally are identified by the words "believe," "project,"
"estimate," "become," "plan," "will," and similar expressions.
These forward-looking statements involve known and unknown risks as
well as uncertainties, including those discussed in the following
cautionary statements and elsewhere in this release. Although the
Company believes that its expectations are based on reasonable
assumptions, the actual results that the Company may achieve may
differ materially from any forward-looking statements, which
reflect the opinions of the management of the Company only as of
the date hereof.
CONTACT: Investor Relations
Maximum Performance Advisors, Inc.
858-381-4677
BioCorRx (QB) (USOTC:BICX)
Historical Stock Chart
From Mar 2024 to Apr 2024
BioCorRx (QB) (USOTC:BICX)
Historical Stock Chart
From Apr 2023 to Apr 2024