Supplier of Non-Invasive Cardiac Monitoring Systems Expanding Via New Partnerships & OTCQB Uplisting Efforts: CB Scientific Stock Symbol: CBSC
CB Scientific, Inc. (CBSC) Executes Manufacturing Letter of Intent with Shenzhen Pump Medical System Co., Ltd
– Established Suppler of FDA and CE Cleared EKG Devices and Software.
– Interactive Cloud-Based Acquisition Software and Smartphone Apps for iOS and Android Platforms.
– Expanding Marketing Throughout Southeast Asia Including China, Malaysia, Thailand, Indonesia & Singapore.
– Efforts Underway for Uplisting to OTCQB Venture Market.
– Highly Experienced Paul K. Danner Appointed as Chairman of the Board.
– New Remote Cardiac Monitoring Service Through Major Pharmacies and Clinics in the Greater Bangkok Market Area.
ESCONDIDO, CA (Viz Release) December 7, 2021 – – CB Scientific. Inc. (OTC PINK:CBSC) announced Shenzhen Pump Medical Systems Co, LTD a leading Chinese developer, manufacturer, and distributor of medical equipment and devices focusing on cardiovascular diagnostic systems, has issued a formal Letter of Intent to manufacture the Company’s products targeting key Southeast Asia markets including China, Malaysia, Thailand, Indonesia, and Singapore.
“This critical collaboration is indispensable, not only by establishing a prominent local manufacturing relationship in the region, but also in terms of securing validation from the U.S. Food and Federal Drug Administration (FDA), and seeking approval by the National Medical Products Association (NMPA), previously the China Food and Drug Administration (CFDA), which is the institution responsible for pharmaceuticals and medical device regulations in China,” said Charles Martin, Chief Executive Officer of CBSC. “Beyond the obvious manufacturing and regulatory approval advantages gained through this valuable relationship, the cooperative alliance will also provide multiple gateways directly into existing distribution channels throughout the region once we commence full-rate production.”
As additional new developments occur, CB Scientific, Inc. plans to make timely announcements through press releases and regulatory filings to keep its shareholders, industry participants, and the public markets informed.
CB Scientific, Inc. (OTC: CBSC), through its US and international subsidiaries, provides innovative products and services in the ambulatory non-invasive cardiac monitoring field. The CBSC FDA and CE cleared EKG devices, interactive cloud-based acquisition software, and smartphone apps for both iOS and Android platforms, provide improved compliance for patients at risk of abnormal heart rhythms as well as more accurate information for physicians.
Grand View Research, views the worldwide ECG industry as ripe for very high returns. The US Centers for Disease Control and Prevention (CDC) projects revenues to exceed $6.9 billion by 2021. CBSC is positioned to capture new market share from the current industry leaders in this field which include Biotelemetry (NASDAQ: BEAT) and IRHYTHM Technologies, Inc. (NASDAQ: IRTC).
In 2019 there were 1,055,000 coronary events and in 2017 over 800,000 US deaths. There is a huge market for addressing this situation with an aging population subject to chronic diseases. Other factors favoring this market sector include the rise of digital health and telemedicine as well as growing pressure on healthcare to lower cost without sacrificing quality.
CBSC is growing internationally through strategic acquisitions and partnerships. CBSC has already acquired an innovative heart-monitoring intellectual property which is the basis of its’ My-Cardia USA, and My-Cardia China. CBSC is expanding nationally into monitoring, testing facilities and services, and has agreements to accelerate this expansion. CBSC is also expanding its product portfolio and technology capabilities through internal activities and through agreements with third-party product developers and manufacturers.
– Intent to Convene a Special Meeting of the Stockholders
On November 30th CBSC announced it will convene a Special Stockholder Meeting in order to gain approval to implement a number of significant enhancements which management believes will better position CBSC to attain its stated business objectives. CBSC is actively expanding its market awareness throughout Southeast Asia, especially including China, Malaysia, Thailand, Indonesia, and Singapore.
“Based on recent progress, our leadership team concluded that the demonstrable progress achieved in key Asian markets, coupled with our recent application to up list to the OTCQB(R) Venture Market, has created sufficient traction for us to take action to better align the Company for the future success,” said Paul Danner, Chairman of CBSC. “Specifically, we plan to seek shareholder approval to implement a corporate name change which more accurately describes our business direction and future growth potential, relocate our corporate domicile to a state which provides superior tax laws and corporate regulations, increase the number of our authorized common shares to facilitate essential fundraising aspirations, ratify the Company’s 2021 Omnibus Stock Incentive Plan which we require to recruit and retain the best possible industry talent, as well as certain other actions necessary to properly position us for a potential listing on the Nasdaq exchange at some point in the future.”
– CBSC Files Application to Uplist to the OTCQB Venture Market
On November 16th CBSC announced that it has submitted its application to uplist to the OTCQB(R) Venture Market. CBSC previously engaged MaloneBailey LLP to conduct a Public Company Accounting Oversight Board (PCAOB) audit and has appointed sufficient independent directors, both key requirements to be considered for uplisting.
“If accepted, uplisting to the OTCQB(R) would be a critically important step for the Company as we continue to execute our business plan,” said Charles Martin, Chief Executive Officer of CB Scientific. “Additionally, achieving such an auspicious milestone will certainly better position us to meet required listing standards as we work towards achieving one of our longer-term objectives of becoming a Nasdaq Capital Markets-listed company,” he added.
CBSC believes that an uplist to the OTCQB(R) would provide enhanced investor benefits, including more comprehensive compliance requirements, higher reporting standards, and greater access to analyst coverage.
– CBSC Appoints Paul K. Danner as Chairman
On October 28th CBSC announced that Paul K. Danner has been appointed as Chairman of its Board of Directors. Mr. Danner has previously served with three Nasdaq-listed companies as the senior corporate executive and has acquired extensive Board of Director expertise through multiple appointments totaling more than twenty-five years with Nasdaq and OTCQB-listed companies.
“I am genuinely excited to become affiliated with an enterprise that offers such tremendous growth potential as CB Scientific,” said Paul Danner, newly appointed Chairman of CBSC. “The domestic and offshore market opportunities for us to expand this business are extraordinary, and I plan to add as much impactful value to that effort as quickly and as thoroughly as possible.”
– Launch of Direct-to-Consumer Heart Wellness Check-Up Program in Bangkok, Thailand
Mango Wellness Co., Ltd. and My Cardia Thailand Co., Ltd. to begin new remote cardiac monitoring service through pharmacies and clinics in the greater Bangkok market
On September 28th CBSC announced the official launch of the “Heart Wellness Check-Up” program in Bangkok, Thailand through their authorized distributor Mango Wellness and My Cardia Thailand. This new B2C remote program is being offered to consumers in partnership with 26 participating pharmacies and medical clinics in the greater Bangkok area.
Using the CBSC proprietary my-Cam™ remote cardiac event monitor and its unique features will help customers deal with heart-related issues and their well-being while dealing with Covid 19 and the quarantine requirements in Thailand. The CBSC “Heart Wellness Check-Up” program offers a hassle-free 10-day monitoring period that is delivered directly to the consumers’ home, remotely, without the need to make multiple trips to hospitals or clinics for evaluation or screening. ECG heart rhythm episodes can be transmitted directly to the CBSC My Cardia™ propriety cloud-based software portal, anywhere, and at any time using the My Cardia smartphone app on the customer’s iOS or Android phone or tablet through a cellular or Wi-Fi connection.
Several Tier 1 private and public hospitals have teamed up with Mango Wellness and My Cardia Thailand on this new direct-to-consumer wellness program. They include Banpakok9, Ramkhamhaeng, Petcharavej, Vibhavadi, and Phyathai Nawamin, all major hospital centers in the greater Bangkok district. In addition, the Central Chest Institute of Thailand, a Tier 1 Government hospital, participates in the program. Cardiologists from these facilities will review and interpret any significant irregular ECG heart rhythm event and consult directly with Mango Wellness and My Cardia Thailand customers, offering them a choice of either a direct appointment at the hospitals or one through a telemedicine video call option. Mango Wellness has already started an aggressive digital marketing campaign to promote awareness and the benefits of the “Heart Wellness Check-Up” program.
For more information on CB Scientific, Inc. (CBSC) visit: http://www.cbscientificinc.com
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