CANTON, Conn., Feb. 16, 2012 /PRNewswire/ -- Kelyniam
(Pinksheets: KLYG), is pleased to announce the 3rd and 4th quarter
2011 numbers consisting of revenues only derived from the medical
device business.
While Kelyniam only received the 510k approval for Custom Skull
Implants (CSI) in April of 2011, the company was thrilled to be
able to receive and fulfill several orders during the 3rd quarter,
even before our commercial launch in September. Revenues for
the 3rd quarter of 2011 were $63,821.
This clearly demonstrates demand for our product.
4th quarter revenues were $46,800.
Fewer surgeries were scheduled around the holidays in
December and due to the real-time and custom nature of our products
some orders were pushed into the first quarter of 2012. This
resulted in 4th quarter revenues slightly lower than Q3 revenues.
"2011 closes a year of major milestones for Kelyniam.
We look forward to building on the momentum in 2012," said
President and CEO Tennyson Anthony.
The unaudited revenues for the 3rd and 4th quarter of 2011 are
as follows:
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|
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Kelyniam
Global, Incorporated
|
|
|
Condensed
Statement of Income (loss)
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|
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Dec 31,
2011
|
Sept 30,
2011
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OPERATING
REVENUE
|
|
|
|
|
Revenues
|
$
46,800
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63,821
|
|
|
Cost of revenue
|
(100,034)
|
(55,849)
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|
|
|
|
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Gross
profit
|
(53,234)
|
7,972
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|
|
|
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OPERATING
EXPENSE
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|
|
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General, administrative
and selling expenses
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94,057
|
29,799
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|
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Professional
fees
|
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8,412
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|
|
|
|
|
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Total operating
expense
|
94,057
|
38,212
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|
|
|
|
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OPERATING LOSS
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$
(147,291)
|
(30,240)
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|
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OTHER INCOME
(EXPENSE)
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Interest expense
(net)
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(1,259)
|
|
|
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Loss on sale of
securities
|
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(1,680)
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|
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Total other income
(expense)
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(1,259)
|
(1,680)
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|
|
|
|
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NET
LOSS
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(148,550)
|
(31,920)
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|
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|
|
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Other comprehensive
loss:
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-
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-
|
|
|
Unrealized loss on
investment securities
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-
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-
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|
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|
|
|
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Total comprehensive income
(loss)
|
(148,550)
|
(31,920)
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|
|
|
|
|
|
|
|
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Shares issued and
outstanding
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16,022,500
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15,822,500
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Basic
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|
|
|
|
|
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(Loss) available to common
shareholders per share
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$
(0.01)
|
(0.00)
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About Kelyniam Global, Incorporated
Kelyniam Global (Pinksheets: KLYG), Inc. specializes in the use
of CAD/CAM technology to provide patient specific custom implants
to assist medical professionals by allowing them to operate more
effectively, improve patient care, and reduce health care costs by
providing the highest quality products available with today's
technology. The company is continually researching and developing
new products and processes to help patients live more active and
productive lives.
Please visit our website at www.kelyniam.com for more
information.
Forward-Looking Statements
Except for historical information contained in this release, the
matters discussed are forward-looking statements that involve risks
and uncertainties. When used in this release, words such as
"anticipate," "believes," "estimate," "expect," "should," "intend,"
"projects," "objective" and "appears" and similar expressions, as
they relate to the Company or its management, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of the Company's management, as well as
assumptions made by and information currently available to the
Company's management. Among the factors that could cause actual
results to differ materially are the following: the effect of
business and economic conditions; the impact of competitive
products and pricing; capacity and supply constraints or
difficulties; product development, commercialization or
technological difficulties; the regulatory and trade environment;
the impact of reimbursement rates and coverage; and the risk
factors reported from time to time in the Company's SEC reports.
The Company undertakes no obligation to revise any forward-looking
statements as a result of future events or developments.
For Question regarding this Press Release, please contact:
Kelyniam Global Inc.
Michael Hamblett, 800-280-8192
x3
Director of Investor Relations
SOURCE Kelyniam Global Inc.