DALLAS, Jan. 26, 2018 (GLOBE NEWSWIRE) --
Greetings From The CEO And Staff At Premier Biomedical!
It has been a very busy and eventful quarter, and an exceptionally fruitful year, for Premier Biomedical (OTCQB:BIEI).
Finance and Stock Performance
- Financing secured earlier this year has enabled the company to pivot from a pure cancer R&D company (which would remain totally dependent on borrowed money) to a revenue-producing entity with all-natural topical pain relief products.
- Recently our stock was moved to OTC Pink from OTCQB. What does this mean to the business? In effect, nothing. We will continue to be a fully reporting company with audited financial statements. The only negative side-effect is that it may become more difficult to borrow money, but our current strategy is to become self-funding as soon as possible, and assume debt only when absolutely necessary.
- By continuing all financial controls, auditing and reporting, our transition back to OTCQB or other exchanges will be facilitated.
Business Structure
- In the third quarter of 2016, faced with a high debt load and a depressed stock price, we were forced to explore options where we could quickly transition to a revenue-producing entity.
- Recognizing the severity of the national crisis of opioid-related drug overdose deaths, we determined that this was a potentially large market for an opioid alternative. After extensive consideration by our technical staff, we decided that topical hemp oil products were a potential solution to address this pressing national need.
- Another advantage of topical hemp oil products is that they could be developed, produced and marketed in relatively short time frame in a very cost effective manner. We also decided that our product focus would be limited to all-natural, 50-state legal, industrial hemp oil products.
- Very early in 2017, we launched our e-commerce website to sell our first product, a 96-hour topical hemp oil skin patch. During the year, we grew our product line-up to a total of five topical hemp oil skin products (a 150mg, 10 ml oil-based roll-on, a 120mg, 10 ml water-based roll-on, a 150mg, 30ml spray and a 150mg, 2 oz. ointment).
- In the fourth quarter, we finalized an agreement with Carl Eller, President of the NFL Retired Players Association. We hope to develop this relationship into an entrée to current and retired professional sports personnel.
- Dr. Patricio Reyes, our Chief Medical and Technical Officer, is currently Chief Medical Officer to the NFL Retired Players Association and is on the neurology staff at the Phoenix VA Hospital. Dr. Reyes took a sampling of our products and an investor presentation of the company to the Philippines last week with the intent of introducing our company and products to the Philippines medical community.
- In 2018, we intend to focus on the steps necessary to increase the number of major distributors handling our broad topical pain relief product line-up. Our recent partnership with HealthWarehouse is a major step forward to establishing similar relationships with pharmacies, clinics, physicians’ offices, senior care facilities, etc.
- As we move forward into 2018, we will be dramatically increasing our sales network through the addition of experienced pharmaceutical representatives. We are in the process of negotiating agreements to build a sales structure, starting with an experienced National Sales Director (already identified). We will be rolling out this structure regionally and expanding and improving it as we go. Updates on our progress in this effort will be provided periodically.
- We believe that increased product exposure and sales and the resultant revenue generation – which are the fundamentals of building a good business -- will lead to a stock resurgence.
Immunotherapy and Biologics.
- We continue to actively seek a partner for our cancer research technology development. We would consider any proposal, including partnership, licensing or sale that represents value for our investors.
- We have declined several offers that were not in the best interest of our shareholders. We have a very promising anti-cancer drug which, in animal tests, has outperformed chemo therapy and competitive drugs currently on the market. These results have been peer-reviewed in prestigious cancer journal articles. We believe this product has significant value, and should be adequately recognized in any potential agreement.
Pain Management.
- Currently there is a crisis in this country where 60 -70,000 people die annually from drug over-doses linked to prescription pain medications. We believe that this environment provides a catalyst for the growth of our all-natural, effective, topical pain relief products.
- An industry study has projected the topical pain relief products market could exceed $5 billion annually by the year 2025.
- We surveyed the principal competitors’ product offerings and developed proprietary formulations for our initial product, a 96-hour, 50mg hemp oil topical skin patch, as well as the four additional products introduced in 2017. Customers have reported all of these products as being effective in relieving a variety of pains and discomfort.
- We initiated the direct sale of our products in January of 2017 via our website, www.painreliefmeds.com. We then branched out to local pharmacies and pain clinics. We recently completed negotiations and cemented an agreement with HealthWarehouse, the largest on-line cash-pharmacy in the nation, to market and distribute our products.
- We have received orders for our products from the UK, France, Canada, Mexico, Australia, and the Netherlands. We believe this off-shore exposure will continue and possibly result in establishing overseas distributorships.
Investor/Public Relations Programs.
- We have signed an agreement with the New York investor relations firm, New To The Street. I completed an extensive interview in December, which will be aired January 28, 2018, at 1:30 PM EST. This program is part of the Fox Business Network which has a potential audience of 90 million homes. I will appear in five additional segments in 2018, and we will notify our stockholders via our email network.
- We will continue our relationship with Uptick Newswire and present corporate updates approximately every six weeks on their network and via press releases.
- We continue our relationship with G S Whitney who has done very good investor relations work in presenting the company to its network of investors worldwide.
SUMMARY
- This past year, we pivoted the company from a pure R&D focus to a sales-generating product line-up of topical pain relievers which we believe offer superior performance at a competitive price. All of our products are non-narcotic, all-natural, pesticide- and solvent-free, 50-state legal and drug test safe.
- Testimonials from our customers indicate effective pain relief for a variety of conditions, including polymyalgia, fibromyalgia, arthritis; neuropathy, migraines, muscle aches, phantom limb pain, etc. (See the Testimonials section on our website Home page, www.painreliefmeds.com).
- Developing our sales channels in 2018 is expected to broaden our distribution reach.
- We partnered with HealthWarehouse to expand sales reach and to fight opioid abuse. We believe this relationship could provide access to many other entities, including senior centers, pharmacies, physicians and hospitals, chiropractors and pain clinics.
- The addition of Carl Eller provides access for our products to the sports industry.
This business would not be possible without the support, dedication and major contributions of all of the people in our organization. Our continued acquisition of superior talent demonstrates a commitment by the staff and the company to our collective future.
We thank you, our investors and loyal stockholders, and pledge that we will continue our efforts on your behalf. We thank you for your patience and continued support.
Sincerely,
William A. Hartman
President and CEO
Premier Biomedical Inc.
(724) 633-7033
PR@premierbiomedical.com
http://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.
Source: Uptick Newswire