Kelyniam Global Inc. Reports Record Cranial Implant Revenues in the 1st Quarter of 2012

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Apr 25, 2012, 09:00 ET

CANTON, Conn., April 25, 2012 /PRNewswire/ -- Kelyniam (Pinksheets: KLYG.PK), is pleased to announce first quarter 2012 revenues of $210,635, a four-fold increase from the fourth quarter of 2011. The increase in revenues was driven by surgeries at new hospitals and from surgeons who have converted to using the Kelyniam Custom Skull Implant made from PEEK material. The first quarter 2012 represents the first full quarter with the new management and a full sales force.

We expect the growth to continue as we gain ground in the domestic custom cranial implant market. We are currently working on reaching out to the international market this year and believe this will have a direct positive benefit to our bottom line. "Kelyniam is extremely excited to open up new markets and hopes to capitalize on those with new product lines in the near future, stated President and CEO Tennyson Anthony.

Mark Chenoweth, Vice President of Sales commented, "We continue to make significant progress in building our presence in hospitals, teaching institutions, and trauma centers across the U.S. The weekly feedback we receive from surgeons who are using our implants has been excellent. They are realizing the benefits of our fast turnaround capabilities, and are thrilled with the time and effort we save them in the O.R. due to our precision fitting implants. With our unique product offering, we look forward to another exciting 2nd Quarter, providing both the surgeons and patients the best custom skull implant option available in the market today."

The CPA firm, Sadler, Gibb & Associates, has compiled the balance sheet and income statement for Kelyniam for the period end March 31, 2012. No audit has been performed on the statements presented.

KELYNIAM GLOBAL, INC.
Balance Sheets


ASSETS

			March 31,
			2012
CURRENT ASSETS

	Cash		$	35,303
	Accounts receivable, net			95,728
	Inventory			25,512
	Other current assets			11,111

		Total Current Assets		167,654

PROPERTY AND EQUIPMENT, net				525,661

OTHER ASSETS

	Distributer rights, net			44,005

		Total Other Assets		44,005

		TOTAL ASSETS	$	737,320


LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES

	Accounts payable and accrued expenses		$	105,080
	Accrued interest			11,966
	Other current liabilities			35,000
	Notes payable, current portion			77,585

		Total Current Liabilities		229,631

LONG-TERM LIABILITIES
	Notes payable			92,018
	Convertible notes payable, net			147,500

		Total Long-Term Liabilities		239,518

		TOTAL LIABILITIES		469,149

STOCKHOLDERS' DEFICIT

	Common stock; $0.001 par value, 60,000,000 shares
	authorized; 16,696,235 and 17,152,235 shares issued
	and outstanding, respectively			17,153
	Additional paid-in capital			2,299,428
	Deficit accumulated during the development stage			(2,048,410)

		Total Stockholders' Deficit		268,171

		TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	737,320

KELYNIAM GLOBAL, INC.
Statements of Operations


			For the Three
			Months Ended
			March 31,
			2012

REVENUES			$	210,635
COSTS OF GOODS SOLD				113,006
GROSS MARGIN				97,629

OPERATING EXPENSES

	Depreciation and amortization			33,956
	Professional fees			18,601
	Commissions, salaries and wages			138,268
	General and administrative expense			63,375

		Total Operating Expenses		254,200

OPERATING LOSS				(156,571)

OTHER INCOME (EXPENSE)

	Interest expense			(37,548)

		Total Other Income (Expense)		(37,548)

NET LOSS BEFORE INCOME TAXES				(194,119)

	Provision for income taxes			-

NET LOSS			$	(194,119)

BASIC AND DILUTED LOSS PER SHARE			$	(0.01)

WEIGHTED AVERAGE NUMBER
OF SHARES OUTSTANDING				17,100,061

A proxy has been distributed to shareholders of record March 27th regarding the annual meeting scheduled for May 11th at the company's headquarters. Shareholders are reminded to vote and return proxies no later than 2pm EST on May 9, 2012.

About Kelyniam Global, Incorporated

Kelyniam Global (Pinksheets: KLYG), Inc. specializes in the use of CAD/CAM technology to provide patient specific custom implants to assist medical professionals by allowing them to operate more effectively, improve patient care, and reduce health care costs by providing the highest quality products available with today's technology. The company is continually researching and developing new products and processes to help patients live more active and productive lives.

Please visit our website at www.kelyniam.com for more information.

Forward-Looking Statements

Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective" and "appears" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.

For Question regarding this Press Release, please contact:

Kelyniam Global Inc.
Michael Hamblett, 800-280-8192 x3
Director of Investor Relations

SOURCE Kelyniam Global Inc.