Dear shareholders and friends,
November was a very exciting month with various accomplishments and partnerships for U.S. Stem Cell, Inc. Our Chief Scientific Officer was been featured at conferences and interviewed for an eBook. We are also launching new clinics and programs in the Middle East and China that will feature our technologies, therapies, and products.
U.S. Stem Cell, Inc. has just signed a new licensing agreement with High Rising Group to open clinics throughout the Middle East, with locations in Dubai, Kuwait, and Qatar. We will be treating patients suffering from chronic conditions, like COPD and Parkinson’s, with the goal of transforming their lives by helping them with these debilitating conditions. You can read more about our partnership in our Middle East Press Release: https://us-stemcell.com/en/u-s-stem-cell-inc-announces-launch-of-us-stem-cell-middle-east/
Our CSO, Kristin Comella, was invited to speak at Terrapin’s World Precision Medicine Congress on stem cells and regenerative medicine. Kristin spoke on the first day of the conference highlighting our innovative products, methods, and therapies. She was also featured in The World of Precision Medicine Interview eBook, answering questions about precision medicine, what it’s like being a woman in the life sciences industry, and offering an inspiring message for young girls interested in a career in the scientific field. Download the interview eBook here.
Additionally, we have entered into a partnership with Hong Kong Yihe Regeneration Medical Technology, to provide Chinese patients direct access to U.S. Stem Cell, Inc. treatments and regenerative therapies at our Sunrise, Florida clinic. CSO Kristin Comella, attended a conference earlier last month in Changchun, China sponsored by Hong Kong Yihe Regeneration Medical Technology to discuss our technologies and how patients can benefit.
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 for Q3:
- Current liabilities down $734K or 9.5% from $7.69M in Q3 2015 to $6.96M in Q3 2016
- Revenue up by 31% to from $557K in Q3 2015 to $729K in Q3 2016
- Net loss improved 17% from $264K in Q3 2015 to $219K in Q3 2016
- Cash used in operating activities down $322k or 84% from $384K in Q3 2015 to $62k in Q3 2016
We will continue to develop pioneering regenerative medicine techniques and technologies as we work to bring regenerative therapies to patients around the world. Our focus has always been, and will continue to be, 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 our divisions.
Warmest regards,
Mike Tomás
President & CEO