BioMedical Technology Solutions Holdings, Inc. (OTCBB: BMTL) is trading significantly higher today at .43, up .17 or 65.38%. The company, located in Englewood, Colorado, has products that provide biomedical waste treatment solutions for the over 1,000,000 low to medium volume medical waste generators in the US and a global market 5 times larger than the US. BMT sells the Demolizer® II® II, which converts infectious biomedical waste into non-infectious material. The device is the only patented, portable, and self-contained system able to process both sharps and typical red bag biomedical waste onsite. The processed waste is rendered sterile and discarded as common trash eliminating up to 100% of the cost associated with its disposal. It provides a safer, more environmentally GREEN method for biomedical waste disposal.
On May 21, the company released its Quarterly Financial Reports for the three months ending March 31, 2010.
Financial Highlights included:
- Revenue were $162,704 in 2010, down from $359,305 in 2009. This 55% decrease was due to distributors and end user delays in placing orders for products, which they believe was a result of the general economic conditions within the United States.
- For the Quarter ended March 31, 2010, BMT incurred a net loss of $413,434, compared to a net loss of $327,866 for 2009, an increase of 26%. This increase in net loss was primarily attributable to decrease in revenues and increased non-stock based compensation expense.
Don Cox, President and CEO of BMTS Holdings, Inc., commented, "This is a great accomplishment for our company. Through our relationship with Interlink and their partners, namely Celebration Ministries, CitiHope International and the Coca Cola Foundation, we will achieve a long held goal of our organization -- to help prevent the reuse or improper disposal of contaminated sharps in Africa and other important regions. Proper sharps waste management is one of the important issues that must be addressed to effectively control important bloodborne diseases including HIV/AIDS."
Disclosure: no positions