BURBANK, Calif., June 08, 2021 (GLOBE NEWSWIRE) — through NewMediaWire — Medolife Rx, Inc. (“Medolife”), a world built-in bioceutical firm with R&D, manufacturing, and shopper product distribution, which is a majority owned subsidiary of Quanta, Inc. (OTC PINK: QNTA), immediately launched the next assertion from administration concerning the enterprise in lieu of its beforehand scheduled webcast on June 8, 2021.
“I wish to thank all of our valued shareholders for his or her curiosity in our firm and continued pleasure for the place we’re headed. After reviewing the submitted questions and as we simply held our Q1 2021 name, we realized that there have been, actually, just some objects that shareholders would really like addressed. As such, we have now determined to handle them in written kind to achieve a bigger viewers.
First, I wish to reiterate the standing of our pending pre-IND submission with the U.S. Meals and Drug Administration (FDA). As most of you realize, we have now submitted the info that was requested in response to us from the FDA associated to the pre-IND submitting. The FDA then assigned us a case supervisor that has relayed that we are able to anticipate an additional response by mid-June, and we proceed to anticipate this response on or round June 15. We stay very optimistic on the submitting standing and can replace our shareholders across the time of the response.
Past our pharmaceutical initiatives, we have now been closely targeted in the previous couple of weeks on ramping up our nutraceutical division. I’m proud to announce that we have now finalized new branding that we are going to be rolling out within the coming weeks, underneath the identify Aelia. We chosen to maneuver ahead with a model identify change after we had been knowledgeable that we couldn’t trademark our beforehand introduced new branding “QuantRx”. The identify “Aelia” pays homage to our CEO, Dr. Arthur Mikaelian, the founding father of the underlaying polarization know-how. We’ll proceed to promote a few of the nice staple merchandise of Quanta, underneath the brand new branding whereas including new and really revolutionary merchandise in ache administration, magnificence, and common wellness — all enhanced by the patented polarization know-how. We proceed to consider this know-how makes our merchandise a few of the most potent and efficacious available on the market. Moreover, we’re engaged on finalizing some very thrilling celeb endorsement offers that we hope to announce in brief order. Please keep tuned for updates on these efforts within the close to time period as we’re simply getting off the bottom on this very thrilling enterprise.
Second, most of the questions submitted needed to do with a current submitting we made with the SEC. I wish to present some further perception as to the aim of this submitting and what it might imply for the way forward for our firm. The submitting was a typical discover of two proposed company actions: rising the variety of shares approved by the Firm and offering authority to the Board of Administrators for a possible reverse cut up of our shares. Concerning the primary level, you will need to notice that approved and excellent shares are completely different numbers. Licensed refers back to the whole potential shares that could possibly be issued, and excellent refers back to the whole variety of shares the corporate has issued. Rising the variety of approved shares didn’t robotically enhance the variety of excellent. We elevated the variety of approved shares to fulfill future obligations to situation shares, be capable of situation shares pursuant to a future financing and to permit us to have a enough variety of shares to make acquisitions or present fairness incentives.
Concerning the choice to do a reverse cut up, I wish to spotlight that this submitting gave authorization to our Board of Administrators to do a reverse cut up sooner or later; it didn’t specify how or once we would do that. We’ve but to determine if or once we would want to do that; nonetheless, once more, together with it within the submitting now gave us yet one more software to make the most of to maneuver to the next change sooner or later. It didn’t set an precise ratio that we’d be held to, solely a most allowable. We consider that having our firm listed on different, extra outstanding exchanges, will in the end result in bigger institutional curiosity and long-term shareholder worth. It was crucial that we accomplish this now, whereas we plan for our future.
Whereas I can’t remark a lot on current reactions from the market, I feel you will need to spotlight that fluctuations have occurred, that are as a result of a mess of causes, together with and past the submitting. I hope that our shareholders proceed to see the potential of our marketing strategy and the chance that executing on it creates. We work day by day with their pursuits in thoughts and are striving to make sensible selections that may construct the long-term worth of our Firm. That stated, we welcome our shareholders to achieve out to a member of our IR group to debate the corporate and its filings in higher element.
Lastly, concerning questions regarding our excellent convertible debt, all of those numbers may be present in our 10-Ok and 10-Q filings with the SEC, obtainable on their web site. Presently, we have now roughly simply over $600,000 of excellent convertible debt, entered into by earlier administration. We’re taking steps to handle this debt in a non-toxic approach and hope to have an replace on this quickly.
In closing, I wish to reiterate my sincerest due to these long-term shareholders who’ve continued to precise pleasure for our imaginative and prescient. Whereas some individuals could not see what we are attempting to perform right here, there are such a lot of who do and meaning the world to us. We’ve a first-of-its-kind know-how that has the potential to revolutionize the healthcare house, a sturdy medical improvement pipeline with merchandise already within the clinic, and a nutraceutical providing that’s second to none. Our future stays shiny, and we should maintain our eye on it.”
Dr. Arthur Mikaelian
CEO, Medolife Rx
About Medolife Rx
Medolife Rx, Inc. is a world biotechnology firm with operations in medical analysis, manufacturing, and shopper merchandise. Medolife Rx was created by means of the merger of Medolife, a personal firm based by Dr. Arthur Mikaelian who pioneered the unlaying polarization know-how that makes the Firm’s portfolio of pharmaceutical and nutraceutical merchandise so efficient, and Quanta, Inc., a direct-to-consumer wellness product portfolio firm. The Firm’s lead medical improvement applications embrace Escozine®, a proprietary formulation consisting of small molecule peptides derived from Rhopalurus princeps scorpions, which is amplified by the Firm’s polarization know-how and is being researched as a therapy of assorted indications, together with COVID-19 and most cancers. The Firm has accomplished preclinical security and efficacy analysis on Escozine® and is pursuing product registration and drug approval in numerous nations, together with the USA and all through Latin America.
By its subsidiary QuantRx, Medolife manufactures and distributes shopper wellness merchandise in high-impact shopper areas reminiscent of ache reduction, magnificence, and common wellness. QuantRx merchandise are designed utilizing Dr. Mikaelian’s polarization know-how, which applies advances in quantum biology to extend the efficiency of lively components. Finally, Quanta’s mission is to ship higher, more practical components to raise product efficacy, cut back waste, and facilitate more healthy, extra sustainable consumption.
Past its personal medical and shopper functions, the polarization know-how utilized by Medolife and its subsidiaries has many potential functions. From potentiating bio-ingredients, to producing more-effective carbon-trapping crops, to transformative anti-aging options, Medolife has the chance to upend how industrial and pharmaceutical merchandise are made and enhance their advantages, whereas lowering their chemical focus.
Secure Harbor Assertion underneath the U.S. Non-public Securities Litigation Reform Act of 1995: This launch accommodates statements which can be forward-looking in nature which categorical the beliefs and expectations of administration together with statements concerning the Firm’s anticipated outcomes of operations or liquidity; statements regarding projections, predictions, expectations, estimates or forecasts as to our enterprise, monetary and operational outcomes and future financial efficiency; and statements of administration’s targets and targets and different comparable expressions regarding issues that aren’t historic details. In some circumstances, you’ll be able to determine forward-looking statements by terminology reminiscent of “anticipate,” “estimate,” “plan,” “challenge,” “persevering with,” “ongoing,” “anticipate,” “we consider,” “we intend,” “could,” “will,” “ought to,” “might,” and comparable expressions. Such statements are based mostly on present plans, estimates and expectations and contain a variety of recognized and unknown dangers, uncertainties and different components that might trigger the Firm’s future outcomes, efficiency or achievements to vary considerably from the outcomes, efficiency or achievements expressed or implied by such forward-looking statements. These components and extra info are mentioned within the Firm’s filings with the Securities and Trade Fee and statements on this launch ought to be evaluated in gentle of those essential components. Though we consider that these statements are based mostly upon cheap assumptions, we can’t assure future outcomes. Ahead-looking statements converse solely as of the date on which they’re made, and the Firm undertakes no obligation to replace publicly or revise any forward-looking assertion, whether or not on account of new info, future developments or in any other case.