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SYDNEY, AUSTRALIA -- (Marketwired) -- 07/28/16 -- Simavita Limited (ASX: SVA) (TSX VENTURE: SV) ("Simavita" or the "Company"), a global leader in the digital healthcare sector, is pleased to release its ASX Appendix 4C for the quarter ended June 30, 2016.
ASX Appendix 4C - June 30, 2016
Total cash and cash equivalents held by Simavita at the end of June 2016 was $6,172,897
During the June quarter, the Company successfully raised $7,353,000 as a result of significant support from its shareholders. The Company has also undergone a cost reduction program during the last quarter which has resulted in a 40% reduction in cash spend per month.
Cash receipts from customers for the quarter were up for the quarter to $270,045 (last quarter 2015 $141,246). Total cash receipts from sales for the full 2016 financial year to $847,753. This figure represents an increase of 21% over the total cash receipts from customers for the corresponding 12 months in 2015 of $701,743.
Simavita is a company established to deliver innovative continence solutions for our customers developed in ethical collaboration with healthcare professionals.
Simavita's patented and leading diagnostic assessment is designed to dramatically improve the quality of life for those suffering from incontinence. For operators, hospitals and rehabilitation centres, this enables care providers and other institutions to significantly lower their material costs and reduce the time required to manage incontinence in patients.
Operating in Australia, Europe and North America, conducting assessments is mandatory in these countries and the incontinence assessment creates an influential element of care of each individual.
The TSX Venture Exchange ("TSX-V") has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this Release.
Except for historical information, this announcement may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, the anticipated date of on the ASX, changing market conditions, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.
This document may contain "forward-looking information" within the meaning of Canadian securities laws ("forward-looking information"). This forward-looking information is given as of the date of this document.
Forward-looking information relates to future events or future performance and reflects Simavita management's expectations or beliefs regarding future events. Assumptions upon which such forward-looking information is based include that Simavita will be able to successfully execute on its business plans. Many of these assumptions are based on factors and events that are not within the control of Simavita and there is no assurance they will prove to be correct.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or information that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Simavita to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to actual results of current business activities; changes in business plans and strategy as plans continue to be refined; other risks of the medical devices and technology industry; delays in obtaining governmental approvals or financing or in the completion of development activities; as well as those factors detailed from time to time in Simavita's interim and annual financial statements and management's discussion and analysis of those statements. Although Simavita has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Simavita provides no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.Contacts: Ms Peta Jurd Chief Commercial Officer +61 2 8405 6361 NEXT ARTICLE
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