ADM Tronics Unlimited Inc.
NORTHVALE, N.J., Oct. 24, 2016 /PRNewswire/ -- Andre' DiMino, CEO of ADM Tronics Unlimited, Inc. (ADMT) issued the following letter to shareholders.
October 24, 2016
Dear ADMT Shareholders:
At this fiscal year midpoint, I am pleased to update you on our progress.
First some background:
As you may know, the Affordable Care Act, commonly referred to as Obamacare, had a significant impact on the Medical Device industry, primarily due to the medical device excise tax and reduction in reimbursements for various medical procedures. In turn, this had a severe impact on our business plans and results in late 2012 and early 2013.
In response to the potentially devastating impact on our business, in early 2013 we reconstructed our business model and instituted a new plan of action. This had a significant positive effect, resulting in increased revenues and profits, as detailed in the following summary:
These financial highlights are part of our SEC filings. I urge you to visit www.sec.gov for an in-depth view of our improved financial position.
Our balance sheet is strong and we anticipate becoming debt free by year end. We accomplished this without any equity or debt offerings for the past 10 years. We have achieved the above solely through internal growth. Management believes we can sustain continued growth over the remainder of this fiscal year ending March 31, 2017, and next fiscal year 2018.
Unfortunately, we believe the price of our common stock has not kept pace with the growth of our business. This could be partly due to our focus on generating increased revenues and our concerted effort to build a strong platform for our future growth. We believe that is now in place and ready to be leveraged.
Although increasing revenues and profits will always be Job #1, enhancing shareholder value has now become a top priority and we are preparing to launch the following initiatives:
To make a commitment to communicate more frequently with our shareholders, and the investing public, in general.
To design a more vibrant and informative website to better reflect the company's position within our industry.
To pursue avenues for greater exposure of our company and its future prospects to the investing public.
The above are just some of the initiatives we are planning for the future.
We thank our shareholders for your continued loyalty and support. We believe this should be a very exciting period for our company and our shareholders.
President and CEO
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Medical Device Design, Engineering, Regulatory and Manufacturing Services; Proprietary Electronic Medical Devices; and Eco-Friendly, Water-Based Formulations. The Company's headquarters, laboratories, FDA-Registered medical device and manufacturing operations are in Northvale, NJ. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D prototyping, precision instrumentation and specialized software and peripherals, for the research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.
Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's SEC filings, news releases and other communications. The Company assumes no obligation to update information contained in this news release.
Letter to ADMT Shareholders from Andre' Di Mino, CEO