Attached files
file | filename |
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8-K - 8-K - CORGENIX MEDICAL CORP/CO | a11-4176_18k.htm |
Exhibit 99.1
Corgenix Medical Corporation
Annual Shareholder Meeting
January 18, 2008
PowerPoint Presentation
Slide 1 Title Slide
Annual Meeting of the Shareholders
January 18, 2011
Slide 2 Agenda
· Review of Corporate Goals
· Review of Fiscal Year 2010
· Financials
· Key Events, Achievements and Disappointments
· Fiscal Year 2011 Goals
· Review of Fiscal Year 2011 Year-to-Date Results
· Financials
· Key Events, Achievements and Disappointments
· Plan for 2012-2014
Slide 3 Corporate Goals
· Financial Strength
· Consistent Growth in Revenues and Profitability
· Broaden Product Base
· Improve Shareholder Liquidity
· Enhanced Product Quality and Regulatory Compliance
· New Customers and Strategic Partners
Slide 4 FY 2009, 2010 and FY 2011 YTD Summary Statements of Operations
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FY 2011 |
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|
|
FY 2010 |
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FY 2009 |
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|
|
3-mo |
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3-mo |
|
|
|
|
| ||||
|
|
ended |
|
ended |
|
FY ended |
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FY ended |
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|
9/30/10 |
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9/30/09 |
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6/30/10 |
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6/30/09 |
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|
(Unaudited) |
|
(Unaudited) |
|
(Audited) |
|
(Audited) |
| ||||
Sales |
|
$ |
1,978 |
|
$ |
2,045 |
|
$ |
8,258 |
|
$ |
8,064 |
|
Gross Profit |
|
$ |
1,105 |
|
$ |
1,116 |
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$ |
4,644 |
|
$ |
4,482 |
|
Operating Expenses |
|
$ |
1,345 |
|
$ |
1,032 |
|
$ |
4,316 |
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$ |
4,831 |
|
Operating Income (Loss) |
|
$ |
(240 |
) |
$ |
84 |
|
$ |
328 |
|
$ |
(349 |
) |
Net Income (Loss) |
|
$ |
(348 |
) |
$ |
(7 |
) |
$ |
2 |
|
$ |
(1,571 |
) |
Slide 5 - FY 2009, 2010 and FY 2011 Summary Balance Sheets
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At September |
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At June 30, |
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At June 30, |
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(Unaudited) |
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(Audited) |
|
(Audited) |
| |||
Cash |
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$ |
1,389 |
|
$ |
494 |
|
$ |
785 |
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Working Capital |
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$ |
2,996 |
|
$ |
2,146 |
|
$ |
2,013 |
|
Long Term Debt |
|
$ |
457 |
|
$ |
485 |
|
$ |
744 |
|
Stockholders Equity |
|
$ |
4,040 |
|
$ |
3,157 |
|
$ |
3,113 |
|
Slide 6 FY 2010 Key Events of the Year
· October 2009
· Secured new credit facility of $1.75 million
· AMA established new reimbursement code (CPT) for Aspirin Works
· December 2009
· Supply agreement established with BG Medicine for their Galectin-3 ELISA product
· February 2010
· Corgenix and Tulane announce award of 3rd Lassa fever grant totaling $15.2 million further enhances IVD program but also moves us into vaccines and therapeutics
· March 2010
· Announcement of launch of line of antiphospholipid products for automated systems
· June 2010
· Announced new European AtherOx patents bringing the total number of AtherOx patents issued to sis (6)
· Announced new US patent for AspirinWorks patent on monoclonal antibody significantly strengthens company proprietary position
Slide 7 FY 2010 Accomplishments
· Reached level of net profitability
· Demonstrated top line growth despite the lingering difficult market conditions
· Improvement in Cost of Goods Sold %
· 10.7% reduction in operating expenses
· Operating income increased $650,000
· Interest expense decreased almost $1 million
· EBITDA doubled to $816,000
· Strengthened our patent position
· Major advancement in several important strategic programs
· Expanded international distribution network
· Prepared for ELITech alliance
Slide 8 FY 2010 Disappointments
· Inability to break out of low $8 million revenue range
· AspirinWorks business growing but slower than original expectations
Slide 9 FY 2011 Goals
· Generate more significant revenue growth
· Maintain improvement in operating income, EBITDA, and overall financial strength
· Continue building foundation of market for AspirinWorks and generate meaningful revenue
· Advance science of AtherOx and prepare for next FDA 510(k) filing
· Continue progress of viral program and launch first products
· Enhance contract manufacturing business with new strategic alliances
Slide 10 FY 2011 YTD Key Events of the Year
· July 2010
· Announced the new affiliation with the ELITech Group
· January 2011
· US reimbursement rate of AspirinWorks increased by 28%
Slide 11 - FY 2011 YTD Accomplishments
· Completion and implementation of agreements with ELITech with minimal hiccups
· New investment capital (1st and 2nd tranches) closed
· Transfer of international distribution responsibilities
· Initiated development of new products
· Investigating long term collaboration opportunities
· Wind-down of Corgenix UK office
· AspirinWorks growth is beginning to ramp up
· Achieved increase in US reimbursement of AspirinWorks which will add additional energy to growth
· Q-1 demonstrated net profit (excluding UK exit costs)
Slide 12 FY 2011 YTD Disappointments
· Restructuring consuming meaningful amount of management time and focus
· Slight dip in revenues in Q-1
Slide 13 Plan for FY 2012-2014
· Return to double digit revenue growth via accelerated growth rate from new products and new distribution
· Expand contract manufacturing business with new strategic partners
· Achieve positive and continuously improving operating income and EBITDA
· Enhance shareholder value
· Build on strategic partnerships
· Maintain superior quality system to ensure full regulatory compliance
· Expand delivery technology capabilities