Tampa, FL, June 16, 2022 (GLOBE NEWSWIRE) -- RemSleep Holdings Inc (OTC PINK: RMSL), a medical device manufacturer dedicated to forever changing the level of treatment provided to obstructive sleep apnea patients, would like to address shareholders regarding the S-1 filing from June 15th, 2022.
First and foremost, we want to be clear, we did not file the S-1 out of necessity. This was set up as a precautionary safety net given the current global and U.S. economic dynamics, and the challenges they are imposing not only now, but in the future as well. With the historic rate of rising inflation and the impact it is having on interest rates, cost of materials, labor rates, and overall cost of conducting business, we felt that it may be in the best interest of the company, for the long term, to have access to a line of credit that could be used on an emergency use basis. The cost involved now is potentially far less than it could be in the future, and we thought we’d rather have it and not need it, than the other way around. The intent was not to exercise the S-1 unless we absolutely had to, and because of our current robust financial state, that would be well in the future, if ever. In hindsight, the decision to have a line of credit via an S-1 filing was a miscalculation on our behalf. We want to be clear on this as well, our intent is to:
- Continue to generate revenues and profits from our CPAP machine distribution agreement.
- To successfully up list to OTCQB® status.
- To obtain FDA approval on our 510k for the patented DeltaWave Nasal Pillow Mask as soon as possible.
- Upon FDA approval, to have a successful sales/marketing campaign and launch for the patented DeltaWave Nasal Pillow Mask.
- To proceed with the filing of the 510k for our 2nd CPAP mask to broaden and strengthen our product line up.
We have absolute belief in our ability to execute these objectives, and we have made the decision to terminate the S-1 filing effective immediately. We have no intent to raise capital, or our authorized share count and/or our outstanding shares count, unless it is absolutely necessary to meet our above-mentioned goals as a company. As of right now, there is no necessity for an S-1 filing. We value and appreciate the continued support from our shareholders, and further updates on developments within our current objectives will be forthcoming.
About RemSleep Holdings Inc.
RemSleep Holdings, Inc. is a medical device manufacturer dedicated to forever changing the level of treatment provided to obstructive Sleep Apnea patients. Our focus is primarily designing and manufacturing devices and products for the treatment of Sleep Apnea and other respiratory conditions. With over 30 years of collective experience in CPAP therapy, the RemSleep team has extensive knowledge and understanding of CPAP and the challenges of patient compliance. We diligently strive for our products to make the difference and improve the condition of those suffering from Sleep Apnea.
Forward-Looking Statements
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company to obtain sufficient financing to execute the Company's business plan; competition; regulation and anticipated and unanticipated costs and delays, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. No information in this press release should be construed as any indication whatsoever of the Company's future revenues, results of operations or stock price. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
Investor Relations Contact:
Preya Narain
347-837-0626
