Yahoo Finance

In addition to restructuring much of its debt, the Company also has reduced total company debt by 24% since June 2023.

Biodex plan for 2025

The Company continues to build its pipeline of additional products and distributors, bolstering the value of Biodex, including:

• Executing a binding exclusive distribution agreement with a JRH Rehabilitation Technology, a Chinese company focused on the Chinese market.

• Identifying several products it plans to brand under the Biodex label ranging from spinal care to connected force plates for physical therapy and is finalizing supply agreements with a plan to launch these products into the Biodex channel in 2025.

• Finalizing production plans for the NASA-developed SpaceTek Knee™ device.

• Finalizing next generation design plans for its best-selling “System 4” isokinetic machine, to be branded as the Biodex “System 5” isokinetic machine.

Launch of Evome Medical Products Distribution Company, Plan to Sell Broader set of Life Science Products, appoints Bill Garbarini Chief Operating Officer

• In November 2024, the Company launched a wholly owned distribution company called Evome Medical Products Company, with a plan to extend its sales and marketing program to include medical therapeutics to complement the current Biodex brands.

• Dr. Kashkin, MD (Chairman), Mr. Seckler (CEO), Mr. Wayne Anderson (Chairman of the Audit Committee) and Mr. Garbarini (COO) worked together at Ferring Pharmaceuticals for 10 years. Mr. Anderson was CEO of Ferring USA and led that company for 15 years. They plan to leverage their combined experience and contacts to evaluate additional products intended to move Evome up the medical industry hierarchy from medical devices to higher margins medical therapeutics.

“One year ago, I took over a business burdened with significant acquisition debt and stagnant sales. Now that we have stabilized the business, I am focused on transforming Evome into a fast growing, higher margin business in the medical industry,” said Mike Seckler, CEO. “We now have three areas of focus to increase shareholder value by driving sales, increasing profits and paying off our debt.

“We continue to improve Biodex by increasing products under the brand and expanding distribution internationally while increasing profitability to provide funding for further revenue growth plans. We also are finalizing our plans to launch the SpaceTek Knee™ product and finalizing designs for the next generation best-selling System 4 Isokinetic machine.

“And by adding Bill Garbarini to the executive team, we are able to add a new low-cap ex business unit with an exciting new product initiative with a goal of improving margins and providing a platform for revenue growth.”

For more information please contact:‎‎

Mike Seckler ‎
Chief Executive Officer ‎
Tel: 1 (800) 760-6826 ‎
Email: Info@Salonaglobal.com‎

Non-GAAP Measures ‎

This press release refers to “Adjusted EBITDA” which is a non-GAAP and non-IFRS financial ‎measure that does ‎not have a standardized meaning prescribed by GAAP or IFRS. The ‎Company’s presentation of this financial ‎measure may not be comparable to similarly titled ‎measures used by other companies. This non-GAAP financial measure assists the Company’s ‎management in comparing its operating performance over time because certain items may ‎obscure underlying business trends and make comparisons of long-term performance difficult, ‎as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete ‎acquisition plans that are fundamentally different from the ongoing operating plans of the ‎Company. The Company’s management also believes that presenting this measure allows ‎investors to view the Company’s performance using the same measures that the Company ‎uses in evaluating its financial and business performance and trends.‎

“Adjusted EBITDA” is defined as net loss excluding interest expense, provision for income ‎taxes, depreciation of property and equipment, amortization of right-of-use asset, amortization ‎of intangible asset, foreign exchange (loss) gain, other income, provision for impairment, ‎change in fair value of contingent consideration, transaction costs, gain/loss on sale of business and stock-based ‎compensation.‎

The following table provides reconciliation between net income (loss) and Adjusted EBITDA:‎

Additional Information

Unless otherwise specified, all dollar amounts in this press release are expressed in Canadian ‎dollars.‎

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release constitute "forward-looking information" within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as “expects” “believes”, “estimates”, "may", "would", "could", ‎‎"should", "potential", ‎‎‎‎‎"will", "seek", "intend", "plan", and "anticipate", and similar expressions as they relate ‎‎‎‎to the Company, including: its plans for Biodex, including launching new products, the timing of launching new products, entering into one or more supply agreement; the Company’s plans for its new distribution company; and management expecting revenue growth to continue. All ‎statements ‎other than statements of ‎historical fact may be forward-looking‎ information. Such statements reflect the Company's current views and intentions with respect to future ‎events, and current information available to the Company, and are subject to certain risks, ‎uncertainties and assumptions, including: increased demand for the Company’s products, including at increased prices; the Company expecting the execution of additional distribution agreements; the Company expecting continued improvement with its product mix by increasing its ratio of sales of high-margin products compared to its lower margin contract manufacturing sales; and the Company expecting minimal increase to its operating, direct and variable costs during 2024. The Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include but are not limited to the ‎‎general business and ‎‎economic ‎conditions in the regions in ‎which the Company operates; the ability of the Company to execute on key ‎‎priorities, ‎including the successful completion of acquisitions, business‎ retention, and‎‎ strategic plans and to‎‎ attract, develop ‎and retain key executives; difficulty integrating newly acquired businesses; ‎‎ongoing or new disruptions in the supply chain, the extent and scope of such supply chain disruptions, and the timing or extent of the resolution or improvement of such disruptions; the ability to‎‎‎ implement business strategies and pursue business opportunities; ‎‎disruptions in or attacks (including ‎cyber-attacks) on the Company’s information technology, internet, network access or other ‎‎voice or data ‎communications systems or services; the evolution of various types of fraud or other ‎‎‎criminal behavior to which ‎ the Company is exposed; the failure of third parties to comply with their obligations to ‎‎ the Company or its ‎affiliates; the‎ impact of new and changes to, or application of, current laws and regulations; ‎granting of permits and licenses in a highly regulated business; the ‎overall difficult ‎‎‎‎‎litigation environment, including in the United States; increased competition; changes in foreign currency rates; ‎increased ‎‎‎‎funding ‎costs and market volatility due to market illiquidity and competition for funding; the ‎availability of funds ‎‎‎‎and resources to pursue operations; critical ‎accounting estimates and changes to accounting standards, policies,‎‎‎‎ and methods used by the Company; the occurrence of natural and unnatural‎‎ catastrophic ‎events ‎and claims ‎‎‎‎resulting from such events; as well as those risk factors discussed or ‎referred to ‎in the ‎Company’s disclosure ‎documents filed with United States Securities and Exchange Commission ‎and ‎available at ‎www.sec.gov, and with ‎the securities regulatory authorities in certain provinces of Canada and ‎‎available at ‎www.sedarplus.com. Should any ‎factor affect the Company in an unexpected manner, or should ‎‎assumptions underlying ‎the forward-looking ‎information prove incorrect, the actual results or events may differ ‎‎materially from the results ‎or events predicted. ‎Any such forward-looking information is expressly qualified in its ‎‎entirety by this cautionary ‎statement. Moreover, ‎the Company does not assume responsibility for the accuracy or ‎‎completeness of such ‎forward-looking ‎information. The forward-looking information included in this press release ‎‎is made as of the ‎date of this press ‎release and the Company undertakes no obligation to publicly update or revise ‎‎any forward-‎looking information, ‎other than as required by applicable law‎.

¹ Non-GAAP financial measure or ratio. See "Non-GAAP Financial Measures".‎