ITonis Inc (OTCMKTS:ITNS) has announced that it will begin airing 30-Second commercial spots, as planned. The spots, numbering a total of 10,000, are for the commercialization of the company’s Emesyl products, which are due to be delivered by National Homeopathic Labs. An agreement, to book these spots had already been signed by the company. Currently, ITonis has access to over 23 of the most popular TV channels in the US.
Steve Pidliskey, the VP of ITonis, revealed that the airing was initially put on hold, due to the closure of Oasis Health Products. However, an agreement with National Homeopathic Lab has helped fill the void, allowing the company to move ahead as planned. It should be noted here that NHL reached an agreement with ITNS, just 2-weeks ago.
As per the agreement NHL would manufacture Emesyl, an anti-nausea drug, for ITonis, which will then commercialize the product. The company clarified that NHL was chosen, mainly due to its vast experience, over 25-years, registrations and compliances. It was initially anticipated that NHL would deliver the first batch, sometime in the next 2-months, but now it seems that the date would come much sooner.
The VP of ITNS revealed that NHL was amongst those companies that were required to deliver samples of the product. The agreement was granted only after the products were tested for composition and quality. The VP also expressed a desire to have a long standing working relation with the company.
Hopefully, the collaboration might help ITonis turn a profit, this year. So far, the company finances have been discouraging. The latest filing, with the SEC, revealed that the company has just $3,000 in cash, $79,180 in liabilities and no revenues to date. This translated to an overall net loss of $507,000, during the last reported quarter.
ITonis Inc (OTCMKTS:ITNS) had a trade volume of 84.17 million and lost 39.53% of its share value, to reach a close at $0.0026 at the end of the April 13 trading session.