news:PanGenex Corporation Issues Letter To Shareholders PanGenex Corporation (Pink Sheets: PGCX) (“PanGenex” or “the Company”) issued the following letter to shareholders:
As President and CEO of PanGenex, a global manufacturer and distributor of nutraceutical and dietary supplement products, I am pleased to provide an update to our shareholders and the larger investing public regarding PanGenex' accomplishments to date, progress made over the recent months and our plans for 2010.
In 2009 PanGenex focused on core business fundamentals and near-term opportunities. Our focus had a major impact on how the business will scale as well as how shareholder value will increase. We have already completed several significant milestones that will be reflected in the balance sheet during 2010, some of which include;
-Q4 2009 Sales Demand Increased approximately 70% over Q3 and roughly 60% over Q4 2008.
-Q4 2009 bookings exceeded previous records, with approximately 74 percent of PanGenex’s recurring revenue resulting from on-line sales.
-added two of the most respected minds in cardiology to our Scientific Advisory Board in Dr. Peter Fitzgerald, MD, FACC and Dr. Louis Cannon MD, FACC.
-added a number of complementary alternative medicine (CAM)/holistic medical practitioners to our national physicians' referral network. These physicians are part of a national distribution channel for the Company's patented and patent pending nutraceutical products: Calci-Clear™, LIPIDEME™ and Omeganol™.
-the signing of a Multi Platform Sales Marketing Initiative with That’s Us Technologies, Inc.
-announced that without marketing emphasis, orders from Puerto Rico, Australia, Canada, Mexico and Brazil continue to be received by the Company.
Nutraceutical sales are on the rise, with several product segments experiencing 20% to 40% growth in 2009. In Q4 2009, demand for our Calci-Clear™ and LIPIDEME™ products which address widespread applications in the $538 Million Soft Tissue Calcification (STC) market, exceeded our short term ability to fill orders. While our inventory replenishment program was modeled after historical domestic growth rates, the unexpected foreign demand for our products necessitated that we adjust our supply chain partnerships. We expect to be positioned to fill all orders by April 5, 2010.”
We continue to seek partnerships and acquisitions that will further our footprint in the rapidly growing global nutraceutical market. The company is currently in the process of reviewing several strategic opportunities. The primary objective of any such transaction will be to accelerate our production, sales and distribution capabilities and to enhance our presence in some of the world’s fastest growing economies and markets.
I would like to take this opportunity to thank all employees of PanGenex Corporation for their hard work and dedicated service; to our shareholders for their loyal support and patience; and to our directors and officers who have maintained a strong belief and focus in what we are trying to accomplish. We look forward to a prosperous 2010 as we continue to develop our projects and implement strategies to increase shareholder value.
About PanGenex Corporation
PanGenex Corporation pursues business opportunities in the $70 billion nutraceutical and dietary supplement industry. With a focus on the cardiovascular health segment, PanGenex develops and markets sector-leading, patented or patent pending, condition-specific nutraceuticals and topical over-the-counter (OTC) drugs and personal care products. PanGenex principal products Calci-Clear, LIPIDEME and Omeganol, address Soft Tissue Calcification (STC), an abnormal hardening or thickening of soft tissues (such as arteries) which is linked to over 50% of chronic diseases and presently affects an estimated 196 million or 60 percent of all Americans. Many of its products contain the purest grade of nutraceutical components available anywhere without a prescription. Since 2006, PanGenex has voluntarily submitted its product labels to the FDA without incidence. PanGenex products are sold to healthcare practitioners in 20 U.S. States, Canada, Puerto Rico, Canada, Brazil, Australia, fine retail establishments and on the Internet including: www.PanGenex.com,www.Calgenex.com and www.HeartHealthyWorld.com.
This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook. The statements in this press release have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.
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