Category Archives: Companies

MRI Interventions Reports 52% Increase in First Quarter Revenue

MRI Interventions logo

Record $2.5 million quarterly revenue driven by growth across entire portfolio OTCQB: MRIC) (the “Company”) today announced financial results for its first fiscal quarter ended March 31, 2019.

First Quarter 2019 Highlights

  • Increased first quarter revenue 52% year-over-year to $2.5 million.
  • Reported $1.6 million in quarterly functional neurosurgery revenue, an increase of 38% over the prior year first quarter.
  • Reported biologics and drug delivery revenue of $382,000, an increase of 93% over the prior year, including first European shipments to Lysogene for use in their P4-SAF-302 trial.
  • Reported capital sales and other services revenue of $486,000, which includes two system sales; the systems sales, combined with three evaluation installations, bring total U.S. installed base to 63 systems.
  • Completed 175 procedures across the Company’s product portfolio.
  • Completed the transfer of the V-Tag 510(k) from Voyager Therapeutics, Inc. and completed initial clinical builds.
  • Generated gross margin of 64%.
  • Maintained reduction of cash used in operations to $609,000, which included annual bonus compensation and semi-annual interest payment.

Leatt Corp Announces Record Breaking Year; Reports Results for Fourth Quarter and Full Year 2018

Leatt logo

21% Increase in Revenues to $24.4 million; 404% Increase in Net Income to $1.2 million

Leatt Corporation (OTCQB: LEAT), a leading developer and marketer of protective equipment and ancillary products for many forms of sports, especially extreme high-velocity sports, today announced record financial results for the fourth quarter and full year ending December 31, 2018. All financial numbers are in U.S. dollars.

Mikros Systems Corporation Reports 2017 Financial Results

Mikros Systems Corporation (OTCQB:MKRS), an advanced technology company specializing in electronic systems technology for advanced maintenance in military, industrial and commercial applications, today announced financial results for 2017.

Revenues for 2017 were $7,196,131 compared to $5,067,365 in 2016, an increase of $2,128,766, or 42%. The increase was due primarily to production orders for 37 Adaptive Diagnostic Electronic Portable Testset (ADEPT) units in 2017 and the receipt of additional contract awards and task orders for engineering services, support, repairs and calibration services.

Icynene To Acquire Lapolla Industries For $1.03 Per Share In All Cash Transaction

icynene

Strategic Combination to Create Industry-Leading Manufacturer and Distributor of Performance Spray Foam Insulation

MISSISSAUGA, Ontario and HOUSTONOct. 5, 2017 /PRNewswire/ — Icynene U.S. Holding Corp. (“Icynene”) and Lapolla Industries Inc. (“Lapolla”) (LPAD) today announced that they have entered into a definitive merger agreement under which Icynene will acquire all the outstanding shares of Lapolla.  The transaction is valued at approximately $160 million, including net debt.

Under the terms of the agreement, stockholders of Lapolla will receive $1.03 in cash for each share of Lapolla that they own.  The transaction was unanimously approved by Lapolla’s board of directors and, following Lapolla’s entry into the agreement, Lapolla stockholders holding approximately 78% of Lapolla’s issued and outstanding voting shares executed a written consent approving the merger agreement and the transaction.

Mikros Announces $ 1.1 Million Navy Production Order for ADEPT Advanced Maintenance Systems

Mikros Systems Corporation (MKRS) announced today that it has received the first Delivery Order under its recent multi-year $35M contract with the Naval Surface Warfare Center in Crane, IN.

The order covers eleven new production deliveries of Mikros’ Adaptive Diagnostic Electronic Portable Testset (ADEPT) and is valued at $1.1M. The ADEPT units will be produced at the Mikros Manufacturing and Depot Center in Largo, FL and be delivered to the Navy later this year.

“We are excited and ready to ramp up the ADEPT production line here in Largo,” said Mark Laureigh, Mikros Director of Operations. “Having served in the U.S. Navy maintaining and operating an AN/SPY-1 radar system, I know full well the current value and future potential ADEPT brings to our sailors. We are proud for each opportunity we have to serve the men and women of our armed forces.”

The Mikros Systems Manufacturing and Depot Center in Largo, Florida was established in 2009 to manufacture and provide sustainment and logistics support for the ADEPT system. The center has produced and delivered over 200 systems to the U.S. Navy and provides continuing life-cycle support for the systems including, calibration, repair, and training.

For more information on Mikros Systems’ manufacturing capabilities, please visit the Mikros Systems website: http://www.mikrossystems.com.