Navigation Links
Imagenetix, Inc. Discusses March 31, 2011 Fiscal Year End Results and Future Focus
Date:7/12/2011

SAN DIEGO, July 12, 2011 /PRNewswire/ -- Imagenetix, Inc. (OTCBB: IAGX) issued today a shareholders' letter discussing the results of its fiscal year ended March 31, 2011 and its focus for the future.

Dear Imagenetix shareholder -

Following completion of our fiscal year ended March 31, 2011 and as we commence the new fiscal year, I would like to address our recent results and summarize our strategic focus for the future.  

Over the past few years our primary strategy has been marketing branded products directly into the food, drug, mass and club stores. We started this process with our most notable brand, Celadrin®, in several stores.  Initial results were encouraging and we expanded the program – in some cases nationwide. This expanded distribution model generated higher product sales however it required significant and growing resources for marketing, advertising and promotions.  As you can see from our recently announced financial performance, this direct distribution model has proven to be quite costly to our liquidity and operations.

After an extensive evaluation by management and meetings with third parties, we have concluded that the best strategy is to focus on our strengths and leverage our product and technology differentiation. Therefore, we are advancing in our efforts to transition from distribution of our branded products directly to market our novel and valuable intellectual property portfolio and compounds to third parties who have the desire, infrastructure and financial resources to penetrate significant world-wide markets for human and animal applications.  Our goal is to partner with such companies, including current discussions with some Fortune 500 companies, by negotiating specific and exclusive intellectual property / distribution rights. In return we would expect to receive value in the form of cash; royalties and revenues from the sale of our proprietary raw materials.  We believe that this strategy will provide significant margin and cash flow opportunities, while allowing us to maintain a low overhead structure.

Imagenetix has developed an array of novel discoveries and health technologies which we believe can be best commercialized globally by top international companies focused in those sectors. We have commenced advancing on this strategy.  Our initiatives and focus are designed to rapidly capitalize on these prospective partnering opportunities to distribute our novel and intellectual property protected compounds; some of which are expected to require FDA approvals as therapeutics.  

The value created at Imagenetix has been primarily associated with the development and advancement of unique health related products and technologies.  This value correlates ideally with the strategy of aligning ourselves with large and financially sound firms in offering them our proprietary health technologies.

Although I see this past fiscal year's financial results as very disappointing, I personally am excited about our new direction and committed to it.  I am also delighted in announcing the recent addition of our newest board member – William "Bill" Toomey. Bill's vast network and experience in working with Fortune 500 leaders makes him a valuable board member. Bill Toomey is a legendary Olympic Gold Medal Winner who has worked for and on behalf of the International and United States Olympic Organizations.

We anticipate providing updates to you as we advance on our strategy into the 2011-12 fiscal year.  

Thank you for your continued support as an Imagenetix shareholder.

Sincerely,

William P. Spencer

President, Imagenetix

About Imagenetix

Imagenetix, based in San Diego, California, is an innovator of scientifically tested, natural-based, proprietary, bioceutical products developed to enhance human health on a global basis.  Imagenetix develops and formulates propriety over-the-counter topical creams, skincare products and nutritional supplements to be marketed globally through multiple channels of distribution.  In addition, the company develops patentable compounds for entering into licensing agreements with Fortune 500 companies.

Certain matters in this news release are forward-looking statements which are subject to risks and uncertainties that could cause actual results to vary materially from those projected.  Such risks and uncertainties include, but are not limited to, adverse fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, the size and timing of customer contracts, new or increased competition, changes in market demand, and seasonality of purchases of the company's products and services.  Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in the company's SEC filings, including its Form 10-K for the year ended March 31, 2011.ContactImagenetix Investor Relations

William P. SpencerTel: (858)385-2797

Chief Executive OfficerImagenetix, Inc.Tel: (858) 674-8455
'/>"/>

SOURCE Imagenetix, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Imagenetix, Inc. Reports Third Quarter 2011 Results
2. Imagenetix, Inc. Provides Net Sales Guidance for the Second Quarter Fiscal 2011
3. Letter to Shareholders From Imagenetix, Inc. President/CEO William Spencer
4. TPI Discusses Non-Cash Non-Operational Financial Impact from Warrants
5. WNDM President Interviewed; Discusses 2011 Outlook and Beyond
6. Questcor Discusses ISS Proxy Recommendations; Provides Business Update
7. Dr. David B. Samadi Discusses Why Robotic Surgery is Quickly Becoming the Go-To Standard for Prostate Cancer Treatment
8. Robotic Prostatectomy Expert Dr. David Samadi, MD Discusses Prostate Cancer Staging and Prostate Cancer Recurrence Study
9. New York Robotic Surgery Expert Dr. David Samadi, MD Discusses New Findings that Hormone Therapy May Increase Risk of Developing Colorectal Cancer
10. Robotic Surgery Expert Dr. David Samadi, MD Discusses FDA Warnings on the Effect of GnRH Agonists
11. Robotic Prostatectomy Expert Dr. David Samadi, MD Discusses Prostate Cancer Treatment Drug Abiraterone
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/25/2017)... 2017   Montrium , an industry leader ... the IQPC Trial Master Files & Inspection Readiness ... EastHORN Clinical Services has selected eTMF Connect ... management. EastHORN, a leading European contract research organization ... transparency to enable greater collaboration with sponsors, improve ...
(Date:9/22/2017)... 22, 2017  As the latest Obamacare repeal effort ... Cassidy (R-LA) and Lindsey Graham (R-SC) ... medical device industry is in an odd place.  The ... 2.3% excise tax on medical device sales passed along ... covered patients, increased visits and hospital customers with the ...
(Date:9/19/2017)... , Sept. 19, 2017   ZirMed Inc ., ... analytics, today announced that it has been ranked #1 by ... Black Book™ Rankings 2017 User Survey. ZirMed was recognized ... for large hospitals and medical centers over 200 beds and ... Book,s healthcare technology user survey history. ...
Breaking Medicine Technology:
(Date:10/13/2017)... LUIS OBISPO, Calif. (PRWEB) , ... October 13, 2017 , ... ... Alzheimer’s or dementia. However, many long-term care insurance companies have a waiver for care ... is the 90-day elimination period, when the family pays for care, is often waived, ...
(Date:10/13/2017)... ... October 13, 2017 , ... Yisrayl Hawkins, Pastor and Overseer ... one of the most popular and least understood books in the Holy Scriptures, Revelation. ... descriptions that have baffled scholars for centuries. Many have tossed it off as mere ...
(Date:10/13/2017)... ... October 13, 2017 , ... “America On The Brink”: ... “America On The Brink” is the creation of published author, William Nowers. ... As a WWII veteran, he spent thirty years in the Navy. Following ...
(Date:10/12/2017)... ... October 12, 2017 , ... The company has developed a ... and regulatory authorities worldwide. From Children’s to Adults 50+, every formula has been ... standard. , These products are also: Gluten Free, Non-GMO, Vegan, Soy Free, ...
(Date:10/12/2017)... ... October 12, 2017 , ... Information ... we intend to develop to enable prevention of a major side effect of ... loss, especially in pediatric patients. For cisplatin, hearing loss is FDA listed on-label ...
Breaking Medicine News(10 mins):