Medifirst Solutions Inc (OTCMKTS:MFST) has provided a corporate update to its shareholder, after having obtained FDA clearance, with respect to its form 510(k) application. In accordance with the clearance, the company would now be able to commercialize its “Infrared Time Machine Laser”, a thermal therapeutic device. Currently, MFST is preparing for the pre-sale and marketing roll-out of the device.
As directed by the FDA, the company needs to implement several checks and balances, both in-office and at the manufacturing facility as well. The implementation is to be completed, prior to initiating sales. In its letter to the shareholders, Medifirst revealed that it would be initially targeting the US market and it has begun to organize an aggressive marketing team to do so. Furthermore, the team would comprise of seasoned professionals, with expertise in the marketing of medical devices.
The first and foremost task of the marketing team would be to analyze and identify specific market sectors, to which it can market the products. In addition to this, Medifirst believes that it is time for some restructuring, within the company. As such, the company plans to make changes to its board and appoint directors with experience in the medical devices industry. However, the current priority is to appoint a CFO and other officers for the company.
In an earlier update, the company had revealed the pricing for its Time Machine Laser. MFST has priced the laser at $9,995 per unit, inclusive of a 2-year warranty. However, given the large sum, the company plans to offer lease or finance options to the healthcare industry. The president of Medifirst, Bruce Schoengood, believed that the price was just, given that healthcare professionals would be gaining an opportunity to further advance their practice treatments, with the help of the laser. He also stated that it was common practice for such professionals to spend large sums on laser equipment.
Medifirst Solutions Inc (OTCMKTS:MFST) recorded a loss of 10.45%, after a trade volume of 4.44 million, during the July 28 trading session. The stock closed at $0.00985 per share, at the end of the day.
Progressive Care Inc (OTCMKTS:RXMD) Updates On Southern Miami Building Permits
Progressive Care Inc (OTCMKTS:RXMD) has issued an update on the status of its pending building permits. With regard to PharmCo building permits, in North Miami Beach, the company stated that it has fulfilled all requirements of the county and should receive its permit within a few days. Progressive Care also announced that it has obtained the first tranche of $250,000 from Chicago Venture Partners and it plans to use them for the building of the warehouse space. The remainder would be used as working capital and for future growth of the company. The CEO of RXMD, S. Parikh Mars, stressed on the importance of the warehouse space, so as to achieve growth in various areas.