LOS ANGELES, CALIFORNIA, Jan. 05, 2023 (GLOBE NEWSWIRE) -- MetAlert, Inc. (OTC: MLRT), a pioneer in location-sensitive health monitoring devices and wearable technology products for remote patient monitoring, today issued its yearend shareholder update letter.
January 5, 2023
Dear Shareholders and Stakeholders,
The management of MetAlert would like to thank you for supporting us. We highly value our shareholders and each of you help us fulfill our mission as a “For Profit with Purpose” company. As many of you know, our products positively impact our users and those people who care about them (family, loved ones, caregivers, neighbors, etc.). Your investment in MetAlert makes a difference.
We want to walk you through what has transpired over the past year, give you a little insight into the reasoning behind some of the recent actions that took place, and share our opinions about what may be impacting our stock price recently, especially considering the downturn in the stock market.
First, on the restructuring and rebranding, we waited patiently until we had substantially improved our balance sheet. Now, we are prepared to take the Company to the next level. Post-pandemic, we realized there was this tremendous opportunity in front of us, but our previous name, stock price and market cap did not properly reflect the Company’s vision, mission, and, most importantly, where it was heading. So, we changed our name, our ticker symbol, conducted a reverse split, and set our sights on the future. To successfully accomplish our objectives, these big changes were necessary. We needed a new, bolder name that articulated our mission as we work to deliver our customers with a broader offering of products and we seek to improve the value we drive for you, our valued shareholders. We are attracting new investors, partners, vendors, and larger customers to execute our growth strategy.
Metalert is a steadfast company with significant potential.
Let’s start at the beginning of 2022; we set out to enhance the capabilities of our patented flagship GPS SmartSole® and we have since developed and launched SmartSole plus®. SmartSole plus® is a wearable hub for collecting health data in real-time wherever our users are, rather than only when they visit a doctor’s office. Our customers can avoid uncomfortable environments and possible exposure to ailments or delays in critical diagnosis. This expands MetAlert’s value proposition from a wandering device solution by the availability of daily health data.
For background, during the pandemic, we quickly recognized that a person’s overall health was key in terms of contracting Covid, its severity, and even life or death. We also observed that getting a checkup at a medical facility was sometimes perceived as a greater risk to someone’s health than underpinning health issues, revealing substantial and systemic issues with healthcare. This, along with some other converging factors, such as wide adoption of telehealth and related third-party payer approval, the ability for wireless networks to transmit large amounts of data in nanoseconds, and advancements in artificial intelligence, led us to make the decision to expand our tracking and monitoring platform. MetAlert provides a complete indoor/outdoor remote patient monitoring biometric health and wellness solution, with potential for insurance reimbursement and possibly, a long-term predictive A.I. big data play.
Let’s review some of this year's milestones that will help shape our future.
- MetAlert completed the development and launched the 4G LTE GPS SmartSole® with Bluetooth and Wi-Fi to become SmartSole plus®
- MetAlert eliminated its variable convertible debt
- MetAlert successfully completed its restructuring and rebranding
- MetAlert engaged several new digital marketing firms
- MetAlert signed a Letter of Intent (LOI) with Norway-based Sensio Group to begin marketing and distributing RoomMate—a 3D Infrared indoor remote patient monitoring system with fall detection
- MetAlert engaged Joseph Gunnar & Co., LLC as its financial advisor to assist with growth strategy and corporate development initiatives
The milestones above laid the foundation for our strategy. MetAlert set out to develop products and create partnerships to best serve the location-sensitive health monitoring business, specifically for people around the world with Alzheimer’s, Dementia, or Autism (ADA), a market size of over 34 million people. The development of SmartSole plus® created two significant new capabilities, better location data within large concrete structures utilizing Wi-Fi IP addresses, basically indoor tracking, and the ability to connect to other wearable medical devices through Bluetooth – the Hub. We then began distributing RoomMate, a 3D infrared supervision product that puts us into the remote patient monitoring and fall detection business, which will expand the company’s footprint by the collection of vital data.
Our engagement of Joseph Gunnar & Co., LLC as financial advisors to assist with our growth strategy and corporate development initiatives will support our strategic plan that involves “up-listing” -- or moving to a national stock exchange and exploring acquisitions to accelerate our growth. We are thrilled about these potential opportunities.
We are now taking dramatic steps to align the public-facing (stock) part of the company with the operations and vision of the Company. Although the short-term performance of the stock has not been what we anticipated, we are confident in the actions taken and that we are on the right path.
We do not want to diminish how difficult it has been to watch the stock price decline; we are shareholders too. In fact, the four largest shareholders in the company are senior management or on the board of directors. We are asking all shareholders to become part of our ambassador program to help us reach as many people as possible. Lastly, as part of our up-listing requirements, we need to increase the number of round lot shareholders (100+ shares). We currently have over 3,000 shareholders with less than 100 shares, which does not contribute to the requirements for qualifying to be listed on NASDAQ or NYSE. If you are or know a shareholder with less than 100 shares, please reach out to us at info@metalert.com
As we continue to lead the company forward, exciting opportunities await. Strategic acquisitions, expanding our products and services, and increasing our revenues per user (RPU), should help set us on a path toward continued success in the coming months and years. Moreover, aligning with new technologies could open possibilities for crucial data analysis that has the potential to revolutionize how we conduct and manage healthcare worldwide. Our vision is for this trajectory to take us beyond traditional bounds into an even brighter future, where we see our organization standing strong amongst multi-billion-dollar corporations. With these ambitious plans, we invite all shareholders to connect with us as we hit the ground running in this new year.
Alzheimer’s, Dementia and Autism affect millions of people; please help us reach those people whose lives can be improved by MetAlert.
Yours truly,
Patrick Bertagna,
CEO and Founder
Metalert, Inc.
About MetAlert
MetAlert, Inc. (OTC: MLRT) is a pioneer in smart, mobile, and wearable tracking and recovery location-based solutions, supported through a proprietary iot enterprise monitoring platform and intellectual property portfolio. The Company offers a global end-to-end solution of hardware, software and connectivity and develops two-way GPS tracking technologies, which seamlessly integrate with consumer products and enterprise applications, utilizing the latest in miniaturized, low power consumption GPS, Cellular, RF, NFC, and BLE technology, enabling subscribers to track in real time the whereabouts of people or high value assets. Known for its game-changing and award-winning patented GPS SmartSole – think Dr. Scholl’s meets LoJack, the world’s first visible wearable technology tracking device created for those at risk of wandering due to Alzheimer’s, dementia, autism and traumatic brain injury. MetAlert´s business model is built around technology innovation and the Company holds dozens of patents, with many issued patents in the area of GPS tracking. The Company has international distributors servicing customers across the globe with subscribers in over 40 countries, and is a U.S. Military Government contractor. Other customers include public health authorities and municipalities, emergency and law enforcement, private schools, assisted living facilities, NGOs, small business enterprises, senior care homes, and consumers. www.MetAlert.com
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Forward Looking Statements
This news release contains forward-looking statements. The terms and phrases “expects,” “would,” “will,” “believes,” and similar terms and phrases are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and assumptions made by MetAlert, which the Company believes are appropriate in the circumstances. Many factors could cause MetAlert’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking statements. Certain risk factors that may cause actual results to differ are set forth in MetAlert’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (which may be obtained on the SEC Website). These factors should be considered carefully, and readers should not place undue reliance on MetAlert’s forward-looking statements. MetAlert has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required.
Disclaimer: MetAlert does not warrant or represent that the unauthorized use of materials drawn from the content of this document will not infringe rights of third parties who are not owned or affiliated by MetAlert. Further, MetAlert cannot be held responsible or liable for the unauthorized use of this document’s content by third parties unknown to the company.
General information, investor relations, wholesale licensing, consumer purchase:
MetAlert, Inc.
Tel: 213.489.3019
Email: info@metalert.com or ir@metalert.com
MetAlert
United Kingdom, London
Nelson Skip Riddle
Tel: +44.7785.364100
Email: nsriddle@metalert.com
