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29/02/2016 14:05
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REL: 1405 HRS Promisia Integrative Limited
FLLYR: PIL: Unaudited Annual Report Commentary FY 2015
PROMISIA INTEGRATIVE LIMITED (PROMISIA) ANNUAL RESULT FOR THE YEAR ENDED 31
DECEMBER 2015
Promisia Integrative Limited (Promisia) and its subsidiaries ("the Group")
has today announced its unaudited result for the year ended 31 December 2015.
Promisia Group Results
Revenues from sales of Arthrem(R) were $407,524 in fiscal 2015, representing
an 88% improvement on the $216,800 recorded in the previous year.
The Group incurred a loss of $958,254, including non-cash expenses of $55,000
and interest expenses of $54,000 for the year ended 31 December 2015 (2014:
$758,000 loss).
Highlights from 2015
Publication of Arthrem(R) Clinical Trial Results
The results of the 12 week randomised, placebo controlled trial were
published in December in the international peer reviewed journal, Clinical
Rheumatology.
Now that Arthrem(R) is clinically proven to be safe and effective in the
management of osteoarthritis symptoms, medical professionals are more likely
to recommend it as a treatment option for osteoarthritis. Publication of the
results also enables Promisia to register Arthrem(R) as a listed
complementary medicine in Australia.
Sales increase of Arthrem(R)
Arthrem(R) sales have increased significantly since June 2015, after the
preliminary positive results from clinical trial of Arthrem(R) were made
public in late May 2015.
Successful Rights Issue
In December 2015, Promisia raised $1,690,000 through a successful rights
issue. The majority of these funds will be used to market Arthrem(R) in New
Zealand, the US and Australia.
Outlook for 2016
The board and management of Promisia are pleased with progress made last
year. During 2016 it is expected that there will be significant growth in
sales revenues in New Zealand and sales traction in the US and Australia.
For further information please contact:
Mr. Charles Daily, Chief Executive Officer on (04) 894 8524 or
Mr. Malcolm Johnson, Chairman on (04) 479 3377
ENDS
End CA:00278513 For:PIL Type:FLLYR Time:2016-02-29 14:05:17