"Footmaxx produces and globally markets, high quality, state-of-the-art foot orthotics.
Footmaxx's proprietary software uses advanced computer techniques to produce individually prescribed and technologically superior foot orthotics which reduce foot, knee, hip and lower back pain and enhance both the comfort and performance level of the wearer."
Quoting a description from a Footmaxx news release.
On May 14, 1998 Footmaxx released 1st quarter financials:
Sales for the first quarter 1998 were $2,018,408
compared to first quarter 1997 sales of $661,656
a 205% increase.
The gross profit in the first quarter of 1998
increased to $1,113,194 from $371,672 in the first quarter of 1997, a 200% increase.
Operating expenses increased to $2,377,561 in the first quarter of 1998 from $1,453,262 in the same period in 1997, which resulted in a loss for the period of $1,501,350 This was mainly as a result of the significant investment in the US sales force, the increase in IT programming capability and the move into a new, expanded and reengineered production facility, as the company geared up to meet expanding demand.
The loss per common share was 6 cents for the quarter compared to a loss of 8 cents per common share for the first quarter of 1997.
Number of Footmaxx scanning units installed with practicioners-
to March 31st, 1997 - 217
to March 31st, 1998 - 617
Average monthly revenue per Footmaxx system placed has risen from
$ 596. in Dec.96,
$ 703 in Dec.97,
$ 922. in March 98.
On June 4th Footmaxx announced it had completed a special warrant offering on a private placement basis. The issue consists of 11,666,666 special warrants at a price of $0.60 per special warrant and 1,000,000 warrants, for aggregate gross proceeds of $7,000,000...
They seem to be on the right track.
Anyone else following this one? Their site footmaxx.com |
