FORT WORTH, Texas, Aug. 17 /PRNewswire-FirstCall/ -- Wound Management Technologies, Inc., (the "Company") (OTC Bulletin Board: WNDM), a rapidly growing provider of specialty medical devices and products, announced financial results for the second quarter 2009.

The Company reported a net loss of $323,911, or $0.01 per share for the second quarter 2009, compared to a net loss of $233,505, or $0.01 per share for the second quarter ending June 30, 2008.

The Company incurred a net loss in the six months ended June 30, 2009 of $810,536 compared to a net loss of $586,738 in the same period in 2008. The increase of the net loss for the six months ended June 30, 2009, compared to the same period in 2008 resulted primarily due to an increase in cost of goods resulting from new compliance regulations through CMS. In November 2008 Medicare announced that all gel products would need to be sterile. Wound Care Innovations, LLC, the wholly owned subsidiary of the Company which markets and distributes the advanced wound care collagen product, CellerateRx(R) began and completed all necessary sterility tests for their wound care gel. Packaging changes in the 1 gram and 5 gram powder and packers were also completed. The Company also spent this time further expanding its data file of evidence-based studies. "We are pleased that these issues have all been resolved as we move forward," states Scott Haire, the Company's CEO. "We can now re-focus on increasing sales both domestically and internationally."

"Unfortunately, these changes diverted our focus from sales to ensuring that our products were in compliance with changing CMS standards," continued Haire. "This, coupled with our emphasis on increasing our clinicals showing that CellerateRx(R) products are unique in the wound care market, slowed our sales production during the first half of the year."

The Company is also in its final stages of due diligence with BioPharma, and anticipates closing the acquisition early in the third quarter. The Company believes that the complimentary technologies of BioPharma and its future products should strengthen the company's sales both domestically and internationally and move it closer to becoming cash flow positive. Once this acquisition closes, the Company plans on refocusing efforts toward increasing revenues through strategic alliances with major sales organizations and launching additional products into these large sales organizations.

About Wound Management Technologies, Inc.:

Wound Management Technologies, Inc. (OTC Bulletin Board: WNDM), with its corporate headquarters in Fort Worth, Texas, markets and distributes collagen-based wound care products to the healthcare market under exclusive world-wide distribution rights to the patented technology licensed to the company. The company is positioned and seeks to be a leading global provider of wound care products. For more information on the company please visit the company's website at www.celleraterx.com.

    For Product Information:             For Investor/Shareholder Relations:
    Cathy Bradshaw     954-315-9242      Lucy Singleton     817-820-7080

Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks and uncertainties detailed in the Company's SEC filings. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.

SOURCE Wound Management Technologies, Inc.

Back to top

RELATED LINKS
http://www.celleraterx.com