Simavita secures $3 million funding commitment for AlertPLUS™ commercialisation

SVA

Simavita Limited (ASX: SVA) is a healthcare company, engaged in developing smart, wearable and disposable technologies for the global diaper manufacturing industry. AlertPLUS™ by Simavita is highly disruptive technology focused on transforming existing ‘dumb’ diaper to a smart device.

The company recently announced that it has secured the funding commitments amounting to more than $3 million from the professional and sophisticated class of investors. These commitments are to add the financial arm to the commercialisation of Simavita’s unique technology AlertPLUS™, dedicated to the diaper industry and valued at US$64 billion, as per the announcement.

Sponsored ad by Kalkine

Financing Highlight:

The report read that funds would be made available in the form of debt notes which will be secured over the assets of the company for repayment. Moreover, the funds will be paid in 3 tranches including the payment of $500,000 in Tranche 1 that has already been paid to the company.

Funds to be received from this financing are expected to greatly support the company objective of achieving a low recurring cost structure, capable of delivering product to new and major markets of interest. The company aims to invest these funds majorly on commercialization and product sales of AlertPLUS™ to international markets.

However, the notes are subject to CDI holder approval at a Special General Meeting (SGM) to be convened in June 2019. It has been stated that these debt notes will become convertible at the election of the holder into CDIs.

Operational Update:

Simavita now has completed its PIVOT strategy to materially reduce operating costs and to focus upon the delivery of a business model and software platform technology AlertPLUS™. It is currently working closely with partner organisations to complete commercial production of diapers incorporating the Simavita AlertPLUS™ sensors while undertaking discussions with third parties regarding its key patents.

The company maintains a competitive edge in the industry with issued patents for a technology platform that produces an exceptionally low cost and comprehensive solution for Adult as well as Infant markets.

Also, Simavita recently completed a key manufacturing milestone. In its first commercial test run in Europe, 45 kilometers of sensor materials were printed in 90 minutes and proved that it is sufficient to manufacture thousands of smart diapers.

Forward Plans:

SVA transitioned into a MedTech company with the capability of delivering the projects to new markets and reducing cost structure. The immediate objective of the company is to license AlertPLUS™ to large corporates. Over the past twelve months, commercialisation activities in the USA and Europe have been reportedly commenced, resulting in discussions related to installation, technology and varying duration.

Simavita’s stock last traded at $0.017 on 22 February 2019.

On 1 March 2019, the company announced that its stock would remain suspended on ASX (as per the listing rule 17.5) due to the failure to lodge the relevant periodic report by the due date.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Facebook Comments
Join Our Forum

We help you to connect with investors and people connected with the stock market.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here