Premier Biomedical, Inc. CEO Letter - July, 2017
July 17 2017 - 7:00AM
InvestorsHub NewsWire
EL PASO, TX,. (Uptick Newswire - July 17, 2017) -
Greetings From The CEO and Staff at Premier Biomedical, (OTC:BIEI)!
This past quarter has been a very busy and eventful one for
Premier Biomedical.
Finance and Stock Performance
- Late in the first quarter, we entered into an equity financing
deal that can potentially bring over $7 million of capital into the
company over the next three years, contingent upon favorable stock
price appreciation. Details of this financing were contained in a
previous press release and 8K filing.
The resulting capital infusion allowed us to ramp up our pain
management products pre-production builds and search for suitable
production sources.
We have dissolved the Pain Management Products joint venture and
have integrated the Hemp Oil Products Pain Management Business into
PBI. Our issued patent on our medication whose primary ingredients
are most widely used to treat chemical and alcohol addiction fit
well in our pain product division focus. This is a real
synergy between our patented drug and our hemp-based formulations
and enables us to focus more attention on the entire pain
management business.
These pain products will be installed into a Pain Management
Division, while our anti-cancer developments will be in a separate
Biologics Division.
We consider our stock to be artificially low and a good investment
for the future.
Immunotherapy and Biologics.
- Continuing discussions with several potential suitors to
evaluate how we might jointly proceed to develop our proprietary
technology to a point where it will be market ready.
Pain Management.
- Many of our stockholders and followers have asked about the
status of our distributor agreement with the nation’s largest
on-line pharmacy. We had indicated earlier that we expected the
agreement to be signed several months ago, but that has not
happened due to a number of issues, including two complete changes
in top management at that company, to issues related to perceived
sales and marketing restrictions. We have continued working
with them and have not let frustration with corporate decision
making stop us. We still remain hopeful and cautiously
optimistic, but cannot guarantee the results. If we are
unable to conclude this distributorship deal, we will seek
arrangements with other large scale distributors.
In the last days of April, we experienced a spike in orders for our
products, which was both good news and bad. Volume production was
not yet ready, and pre-production hand assembly processes were
unable to keep up with the demand. As a result, customers
experienced out-of-stock conditions and excessive delays in
receiving products.
We did what we could to mitigate the inventory shortages and
arranged for a spot buy of another product to provide us with
synthetic enhanced products to provide both immediate and long term
pain relief for our customers. These products have been met with
mixed reviews – some customers love them and have reordered them;
others do not. On that basis, we will continue those products
in demand and discontinue those with limited sales potential.
In our efforts to launch production on our original patch and
roll-on, we have become more acutely aware of market trends, market
needs and market gaps. As a result, we have delayed our exploration
into a range of different hemp oil-based products, like edibles and
sprays, in favor of expansion of patch products. We believe
the pain patch market is an underserved segment of the pain
management market, and holds great potential for growth.
We will be developing additional sizes and shapes of our
hypoallergenic foam patch. These will range from small
bandage-sized one-day patches ideal for short term local pain, to
large area patches for wide spread, longer term pain. We will
also continue to offer both a sage-scented, oil based roll-on and a
lavender water based formulation roll-on.
We are also increasing the levels of active pain reducing
ingredient in our patches and roll-ons. These new patches, which
have recently become available, contain 50 mg of hemp oil extracts,
which is the most in the industry to our knowledge. Our oil
based roll-on will increase its hemp oil extract content by more
than 35% to 150mg, also the most in the industry to our
knowledge.
To date, we have made all of our topical pain patches and roll-on
applicators via hand operations. We simply could not expand our
distributorships nor plan for the future until we had resolved our
formulations and had developed a reliable volume manufacturer.
Now that we have resolved the difficult volume manufacturing
problem, we will aggressively expand our distribution network. We
intend to utilize the very successful relationships we have
developed with Rx Xpress, a pharmacy, and Dr Vinton's Pain Clinic,
both in Grove City, PA as a template to expand to other cities
throughout the US, Canada, Mexico and the rest of the world.
We intend to work with Amazon to further expand the sales through
our web site at: painreliefmeds.com as well as
from our direct distributors.
A potential European distributor has contacted us to investigate
the possibility of a drop-ship agreement. We are still working with
them to resolve all issues. We intend to attempt to develop
other off-shore distributors as our business expands.
We have been working with the Chronic Illness Bloggers, a worldwide
group to request them to evaluate the effectiveness of our products
to relieve pain. We have had a number of very positive evaluations
to date and have included these evaluations in the many voluntary
testimonies we have received to date since we went into this
business February 1, 2017. We expect more positive evaluations of
our current products from this group and will utilize their
excellent services to evaluate each new product we develop.
Many of the voluntary testimonies that we have received to date
indicate that the users of our products were able to achieve true
pain relief and stop the use of dangerous opioid painkillers. Since
we have seen estimates that opioid-related deaths now exceed the
death rate from automobile accidents, we believe that the time is
right to petition the national and state agencies to evaluate our
all-natural, pesticide-and-solvent-free products as a recommended
alternative to opioid-based dangerous prescription pain pills which
often lead to heroin addiction and death.
We are working with the Veterans Administration (VA) to secure
their endorsement to use our topical pain relief products in lieu
of opioid pain products in their hospitals. We have prepared a
presentation and are starting our process with VA personnel.
Our plan is to take our proposal to the national level as soon as
possible via our established contacts.
Investor/Public Relations Programs.
- In an effort to broaden our product exposure and boost our pain
product sales, we have an Investor Relations firm promoting our
company and products on social media. We are expanding our social
media marketing campaigns, including Facebook, focusing on the 50+
age demographic, which past experience has indicated is our prime
market.
I plan to continue promoting Premier Biomedical, and providing
updates on our progress through Uptick Newswire press releases, and
monthly radio broadcasts, which have been very effective in the
past. This is in addition to the occasional Stu Taylor radio show
interviews.
Summary.
- This first half, we cleared our books of convertible debt,
launched a revenue-generating product line, and secured more
conventional financing with incentives for the lender to
appreciate, rather than depreciate our stock price.
We established a number of direct distributors, including
pharmacies and health clinics.
Now that we have resolved the product formulations and volume
manufacturing to our specifications, we are attempting to expand
our distributor networks both within North America as well as
off-shore.
We are in the process of developing, and launching several
additional pain relieving products which we intend to spot-market
test.
We have been very busy building our business, and now that we
have resolved the basic issue of developing an industry-best
formulation and a volume manufacturing system, we are poised to
expand our business geometrically. We thank our loyal
stockholders and pledge that we will continue our efforts on their
behalf. We thank you for your continued support.
Sincerely,
William A. Hartman
President and CEO
Premier Biomedical Inc.
About Premier Biomedical, Inc.
Premier Biomedical, Inc. (OTCQB: BIEI) is a
research-based publicly traded company that intends to discover and
develop medical treatments for a wide range of diseases in
humans. Premier has obtained, via exclusive license
agreements, the technology behind three granted US Patents,
multiple pending provisional patents, and a PCT Europe National
Patent. Founded in 2010, Premier has partnered with the
Department of Defense with Center of Expertise at the William
Beaumont Army Medical Center and the University of Texas at El Paso
(UTEP). The company's R&D efforts are centered in El Paso,
TX, and their business offices are in Western Pennsylvania. The
Company is a fully-reporting issuer whose common stock trades on
the OTCQB marketplace maintained by OTC Markets Group, Inc. under
the ticker symbol "BIEI." For more information please visit
our website: www.premierbiomedical.com/.
Safe Harbor Notice
Certain statements contained herein are “forward-looking
statements” (as defined in the Private Securities Litigation Reform
Act of 1995). Premier Biomedical, Inc. cautions that
statements, and assumptions made in this news release constitute
forward-looking statements and makes no guarantee of future
performance. Forward-looking statements are based on
estimates and opinions of management at the time statements are
made. These statements may address issues that involve
significant risks, uncertainties, estimates made by
management. Actual results could differ materially from
current projections or implied results. Premier Biomedical, Inc.
undertakes no obligation to revise these statements following the
date of this news release.
Contact
William A. Hartman
President and CEO
Premier Biomedical Inc.
(724) 633-7033
PR@premierbiomedical.com
www.premierbiomedical.com/
Source: Uptick Newswire
Premier Biomedical (PK) (USOTC:BIEI)
Historical Stock Chart
From Sep 2024 to Oct 2024
Premier Biomedical (PK) (USOTC:BIEI)
Historical Stock Chart
From Oct 2023 to Oct 2024