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UNITED STATES |
SECURITIES AND EXCHANGE COMMISSION |
WASHINGTON, DC 20549 |
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FORM 8-K |
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CURRENT REPORT PURSUANT |
TO SECTION 13 OR 15(D) OF THE |
SECURITIES EXCHANGE ACT OF 1934 |
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Date of report (Date of earliest event reported): October 02, 2018 |
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BIOTRICITY, INC. |
(Exact Name of Registrant as Specified in Its Charter) |
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Nevada |
| 333-201719 |
| 47-2548273 |
(State or Other Jurisdiction of Incorporation or Organization) |
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275 Shoreline Drive, Suite 150 Redwood City, California |
| 94065 |
(Address of Principal Executive Offices) |
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Registrants Telephone Number, Including Area Code: (800) 590-4155 | ||
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(Former Name or Former Address, if Changed Since Last Report) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [X] |
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| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [X] |
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Item 2.02 Results of Operations and Financial Condition
On October 02, 2018, Biotricity, Inc. (the Company) issued a press release providing operational updates and announcing its sales performance for the quarter ended September 30, 2018. The full text of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Pursuant to General Instruction B.2. to Form 8-K, the information set forth in this Item 2.02 and Exhibit 99.1 shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall any of them be incorporated by reference in any filing under the Securities Act of 1933, as amended or the Exchange Act, except as expressly set forth by specific reference in such a filing.
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Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits. The exhibit listed in the following Exhibit Index is furnished as part of this Current Report on Form
8-K:
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Exhibit Number | Description |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: October 4, 2018
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| BIOTRICITY, INC. | |
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| By: | /s/ Waqaas Al-Siddiq |
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| Waqaas Al-Siddiq |
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| Chief Financial Officer |
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Biotricity Provides Fiscal 2018 Second Quarter Updates for Shareholders Press Release | 10/02/2018
REDWOOD CITY, Calif., Oct. 02, 2018 (GLOBE NEWSWIRE) -- Biotricity Inc. (OTCQB: BTCY), a medical diagnostic and consumer healthcare technology company, today provided operational updates for its fiscal 2018 second quarter which ended September 30, 2018.
Bioflux 1.0 sales growth and market expansion achieved a record high during the fiscal 2018 second quarter; the Company experienced a 150% increase in total device sales and a 75% increase in new customers from Q1. Bioflux is an FDA-approved, medical-grade remote patient monitoring device that monitors a patients ECG in real-time, constantly analyzing and collecting data on the device and periodically uploading to the cloud via embedded cellular technology.
The momentum and growth trends we saw during the last quarter not only continued but have accelerated in the second quarter, said Mr. Waqaas Al-Siddiq, Founder and CEO of Biotricity. We have had strong performance in new U.S. state markets, and we are confident this trend will continue.
Existing customers continued to purchase additional units, reaffirming customer satisfaction. The Company is pleased to report a 62% increase in repeat customer orders from Q1. Our anchor clients are developing loyalty to our product, and we are both excited and humbled by their level of acceptance and enthusiasm, said Mr. Al-Siddiq. We will endeavor to continue supporting them and fostering long-term relationships which will give us a true competitive differentiator.
The Company is continuing to develop Biopatch, an ECG patch which it anticipates filing with the FDA by Q1 2019. An extension of Biotricitys award-winning Bioflux device, Biopatch offers an alternative to the 3-lead system which is ideal for patients with less complicated cardiac conditions. The patch leverages the capabilities of Bioflux and provides wireless arrhythmia monitoring for patients who are either at risk for, or diagnosed with, certain cardiac issues. Small, comfortable, and effective, Biopatch will ensure patients with atrial fibrillation (AFib) and other cardiac issues receive early diagnosis and preemptive care from their physicians, and will support the shift to outpatient care.
The future of medical gadgets appears to be headed towards medical-grade wearables that will be increasingly smaller and accurate enough to detect warning signs and facilitate a diagnosis. Biotricity is pleased to see how consumer-based devices like the new Apple Watch are creating awareness among consumers about possible heart issues, which will lead many to seek medical care to determine if they have an issue. Once identified, healthcare providers can prescribe medical grade wearables such as Bioflux for continuous, real-time monitoring of a patients ECG to diagnose their exact condition and determine the appropriate medical care. This latest market activity has garnered increased media interest and from leading health and med device publications.
Biotricity is also expanding its Scientific and Medical Alliance Board with eminent cardiologists who will lend their expertise to help Biotricity tailor its solution for chronic care management and for preemptive heart disease identification in new markets. The Company has extended an Advisory Board Membership invitation to several candidates and all have accepted; the Company will provide further details in the coming months. The Biotricity Scientific and Medical Alliance Board recognizes members for advancing scientific and clinical excellence through dedicated collaboration and industry leadership.
To learn more, visit www.biotricity.com or follow on:
Twitter: @biotricity_inc
Facebook: facebook.com/biotricity/ or
LinkedIn: linkedin.com/company/biotricity-measuring-vitals
About Biotricity Inc.
Biotricity is a modern medical technology company focused on delivering innovative, remote biometric monitoring solutions to the medical and consumer markets, including diagnostic and post-diagnostic solutions for chronic conditions and lifestyle improvement. Biotricitys R&D continues to focus on the preventative healthcare market, with a vision of putting health management into the hands of the individual. The company aims to support the self-management of critical and chronic conditions with the use of innovative solutions to ease the growing burden on the healthcare system. To learn more, visit www.biotricity.com.
Important Cautions Regarding Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies, and expectations, are generally identifiable by use of the words may, should, would, will, could, scheduled, expect, anticipate, estimate, believe, intend, seek, project, or goal or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements may include, without limitation, statements regarding (i) the plans, objectives and goals of management for future operations, including plans, objectives or goals relating to the design, development and commercialization of Bioflux or any of the Companys other proposed products or services, (ii) a projection of income (including income/loss), earnings (including earnings/loss) per share, capital expenditures, dividends, capital structure or other financial items, (iii) the Company's future financial performance, (iv) the regulatory regime in which the Company operates or intends to operate and (v) the assumptions underlying or relating to any statement described in points (i), (ii), (iii) or (iv) above. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences, many of which the Company has no control over. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company's inability to obtain additional financing, the significant length of time and resources associated with the development of its products and related insufficient cash flows and resulting illiquidity, the Company's inability to expand the Company's business, significant government regulation of medical devices and the healthcare industry, lack of product diversification, existing or increased competition, results of arbitration and litigation, stock volatility and illiquidity, and the Company's failure to implement the Company's business plans or strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC. The Company assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Media Contacts
McCoin & Smith Communications Inc.
Chris McCoin,
Chris@mccoinsmith.com, 508-429-5988
Richard Smith,
rick@mccoinsmith.com, 978-433-3304
Investor Relations:
Biotricity Inc.
1-800-951-3348
investors@biotricity.com
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