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SOURCE SPO Medical
NEW YORK, January 9, 2014 /PRNewswire/ --
SPO Global Inc (SPOM), a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices, announced today it generated approximately $550,000 in revenues in 2013 compared with $316,000 in fiscal 2012. The majority of these revenues were from shipments of its consumer wellness product to US mass-market retailers. The revenues figures are preliminary estimates which are subject to change and actual year end results will be published with the Company's 2013 year end audited financial statements.
During 2013 the Company continued to manufacture a private-labeled, consumer over-the-counter (OTC) pulse oximeter for non-medical applications, which is being marketed by various retailer stores throughout the US and Canada. In addition, during Q4-2013 the Company (through its partnership with MZB & Company Inc.) launched a new and innovative consumer wellness watch branded as "Live Well by SHARP" designed to measure overall daily activity level. Primary customers for the wellness watch include people looking to improve their daily activity levels, as well as the 100 million adults and children today in the US alone who are considered to be overweight or obese. The Company is now working to further expand its product distribution under private label to other large retailers and also plans to release additional products during 2014, based on its rich patent portfolio for mass-market consumer applications.
Michael Braunold, Chief Executive Officer of SPO, commented: "2013 demonstrated further growth for the Company in which we were able to access North American mass-market retailers through partner relationships distributing under private-label. We plan on expanding our product portfolio during 2014 to further leverage on our success to date. This will include the launch of a unique, non-invasive baby wellness monitor for parental reassurance especially when babies are sleeping. This new innovative baby monitor will provide a pro-active, real-time baby wellness monitoring application for use in family homes. With over 8 million births annually in the USA and Western Europe alone, we view this product opportunity with great interest, since commercial homecare baby monitors currently in the market, do not give parents or caregivers wellness information particularly while their babies are sleeping."
As announced recently, the Company changed its corporate name to SPO Global Inc to better reflect the nature of its products and current business focus. The Company is working closely with its distribution partners to realize new retail product opportunities during 2014 and beyond. Braunold continued: "We look forward to an exciting year ahead for the Company as our products enter new consumer wellness segments, which in turn contributes to potentially increasing value for the SPO shareholders."
About SPO Global
SPO Global is a leading developer of biosensor and microprocessor technologies for use in portable monitoring devices to capture life-enhancing information within four key markets: sports, wellness, homecare monitoring and security. Its patented technology uses information gathered from the reflectance of light on the human body, in a noninvasive manner, to monitor key vital signs. The company manufactures its products in addition to licensing its technologies to appropriate client corporations for commercialization and distribution. For more information, visit http://www.spoglobal.com.
Forward Looking Statements
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, the actual revenues recorded for 2013, the continued generation of revenues and/or further growth in revenues, expectations regarding the successful expansion of our product, market acceptance of our products and new product applications, timing of new product launches, product performance, size of prospective markets, revenue assessments, unpredictable sales cycles, profitability, marketing strategies, success of our restructured operations and plans, our ability to generate fees or raise capital to support our business operations and plan, the sufficiency and availability of working capital, changes in economic conditions generally and in more specifically, the introduction of competing products, changes in our operating strategy or development plans patent protection for our products and technologies, changes in economic conditions generally and in more specifically, in the markets we operate, changes in technology, legislative or regulatory changes that affect us and the risks and uncertainties discussed under the heading "Risk Factors" in Item 1 of our Annual Report on Form 10-K for the fiscal year ended December 31, 2012. We undertake no obligation to revise or update any forward-looking statement for any reason.
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