Dear shareholders and friends,
2016 has been a year of great success: U.S. Stem Cell, Inc.’s adipose treatments have been used to treat more than 6000 patients so far, and we continue to research and develop therapies and protocols to benefit others suffering from degenerative diseases that affect their tissues, cells, organs, and bodily functions.
Technology is the best communicator for our scientific advances. On July 8th, Dave Asprey of Bulletproof shared the world’s first live stream of a stem cell procedure, featuring our very own Kristin Comella and Michelle Parlo at U.S. Stem Cell Clinic. You can view the recorded livestream at U.S. Stem Cell Clinic’s Facebook page: https://www.facebook.com/usstemcellclinic/posts/1200333253332375
During August, our stem cell therapies made their way to the Rio Olympics! Dr. Scott Greenberg, a Sports Medicine and Regenerative Orthopedics specialist, took a training course through our U.S. Stem Cell Training division. With the experience and knowledge he gained, Dr. Greenberg was able to use our Platelet Rich Plasma, or “PRP” method to treat Olympic Gymnast Laurie Hernandez at this year’s 2016 Rio Olympics — just seven weeks before she was to perform on the Olympic stage! Dr. Greenberg commented, “[the platelets] forced [her leg] to heal.” Watch Dr. Greenberg discuss PRP: https://youtu.be/gvkqGPkPmiA
Then, in September, Chief Scientific Officer, Kristin Comella, was invited to speak at RAAD (Revolution Against Aging and Death) Fest where life extension enthusiasts come together to learn about the latest scientific advancements and gain vital insight into how to extend health and wellbeing. Kristin spoke about the power and future of stem cells in physician education, animal health, personal medicine, and prescription therapeutics. Her full presentation is available online here: https://youtu.be/H4T6WReGPro
We also continue to make progress in our animal health division, and just last month treated our first victim of an alligator attack at VetBiologics. The canine affected was at severe risk for infection due to a bad gator bite. After surgery and multiple stem cell doses, the patient has healed and made a complete recovery — to the joy of his owners.
At U.S. Stem Cell Clinic, we have had amazing success in our treatments of Traumatic Brain Injury (TBI) and Multiple Sclerosis (MS) this year.
One of our TBI patients, Heather, was given newfound hope from our stem cell treatments. Two years after her initial injury, she was unable to talk or walk without assistance. Her doctors had told her they were unable to do anything more for her. We began stem cell treatments and her improvements have been miraculous. Her recovery is looking better each day since starting her stem cell treatments with us — so much so, that she even made a video recounting her stem cell journey at U.S. Stem Cell Clinic.
Another one of our patients, Barbara, was diagnosed with Multiple Sclerosis in 1988. Through our stem cell therapies and procedures, she gradually went from being wheelchair-bound to being able to stand up and do 50 squats on her own! As Barbara tells it, the first time her therapist saw her move her left side, she was astounded. Barbara and other MS patients have demonstrated promising improvements utilizing our regenerative medicine treatments.
On the business front, our financial indicators continue to trend positive with revenues up and liabilities down. Here is a summary of U.S. Stem Cell’s most recent financial figures through Q2 2016:
- Revenue up by 20% from $565K in Q2 2015 to $678K in Q2 2016.
- Current liabilities down $2.7 million or 33% from $8.2M in Q2 2015 to $5.7M in Q2 2016.
- Gross Margin improved from 41% in 2015 to 62% in 2016.
- Cash used in operating activities decreased ($481K) or 74% from $646K in Q2 2015 to $165K in Q2 2016.
- Working capital deficit improved by $2.5 million or 31.3% from $8M in Q2 2015 to $5.5M in Q2 2016.
- Net loss improved 46% from $480K in Q2 2015 to $259K in Q2 2016.
We want to take this opportunity to thank our long-time shareholders and supporters as we develop pioneering regenerative medicine techniques. We are working to bring regenerative therapies to the patients who need them. We will continue to focus our efforts on new life-changing treatments. We invite you to follow us on social media for the latest updates and information about U.S. Stem Cell, Inc. and its divisions.
President & CEO