PIL 0.00% 0.0¢ promisia integrative limited

Ann: FLLYR: PIL: Unaudited Annual Report Commentary FY 2015

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    • Release Date: 29/02/16 14:05
    • Summary: FLLYR: PIL: Unaudited Annual Report Commentary FY 2015
    • Price Sensitive: No
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    					PIL
    29/02/2016 14:05
    FLLYR
    PRICE SENSITIVE
    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
    				
 
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