A RECORD YEAR FOR KLYG!
CANTON, Conn., Jan. 21, 2025 /PRNewswire/ -- Ross Bjella, Kelyniam's CEO, announced today a number of important updates ahead of the recurring announcements associated with the Company's traditional March corporate disclosures:
- Kelyniam Global will announce calendar year '24 record revenues in excess of $3.3 million resulting in growth of at least 25%. The Company will report an increased operating income of at least at half million dollars ($500,000) over calendar year 2023. Further details on operations results will be reported later in mid-March,
- The Company completed an exhaustive review of legacy and Covid-related costs, assets and obligations and will report several matters outside of continuing operations in its annual financial statements. These matters, the majority of which are non-cash, represent a corporate reset and involve obsolete inventory, disposition of assets, satisfaction of compensatory obligations and a comprehensive review of the balance sheet for stranded assets and obligations. The results of this exercise will be reported as Restructuring Costs and Non-cash Compensation.
- The Company has been notified by its Broker-Dealer marketplace, OTCIQ, that it will be changing the requirements for the exchange where Kelyniam shares are traded. The Company plans to take the necessary steps to qualify for and move to the new OTCID Basic Market in 2025.
- The Company is contemplating a reverse stock split to occur after the annual shareholders meeting in late June 2025. The Company is undertaking this effort to provide our shareholders with additional depository and liquidity opportunities not currently available due to the current share price offering of less than $1. The Company has not yet decided the extent of reverse split to be recommended, if at all, to the shareholders for approval.
- On January 29th, 2:00 EST, the Company will be conducting an investor presentation at the invitation of GeoInvesting.(www.Geoinvesting.com). The discussion will reference a company slide presentation and will be held in a fireside chat format. Access to the presentation is provided by GeoInvesting. The meeting invitation materials can be found at the following registration link:
https://us02web.zoom.us/meeting/register/vZE43p_zSw-_ZjY47nvETQ
"Kelyniam left 2024 with strong momentum and we are excited about the prospects for the business in 2025," said Bjella.
Other information regarding the Company can be found on the company's website at www.Kelyniam.com.
Kelyniam Inc., specializes in the rapid production of custom prosthetics utilizing computer aided design and computer aided manufacturing of advanced medical grade polymers. The Company develops, manufactures, and distributes custom cranial and maxillo-facial implants for patients. Kelyniam works directly with surgeons, health systems and payors to improve clinical and cost-of-care outcomes. Kelyniam's web site address is www.Kelyniam.com.
As a cautionary note to investors, certain matters discussed in this press release are forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its service and product sales plans; and changes in the status of ability to market products.
View original content:https://www.prnewswire.com/news-releases/kelyniam-corporate-update-302355673.html
SOURCE Kelyniam Global Inc
