"This milestone opens the doors to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Now they may execute on unsolicited orders and also make recommendations to clients as they so choose. It also now gives individual investors in the United States the ability to trade shares of our Company," said M PharmaceuticalDirector, George Tsafalas.
The Company advised that it has issued a total of 1,325,000 options to directors and consultants of the Company, including those sitting on its advisory board. These options are exercisable at $0.17 for a period of 5 years, and vest over in equal portions over the next 3 years.
"The high standard for compliance and related information requirements of OTCQB approval provides our investors greater confidence and matches our commitment to accountability and transparency," said M Pharmaceutical's President & Chief Executive Officer Dr. Martin Mintchev.
Dr. Martin Mintchev was appointed President and Chief Executive Officer on April 15. He is the primary developer of the innovative medical technologies held by M Pharmaceutical.
Over the past few months, M Pharmaceutical Inc. has acquired three biomedical technologies addressing obesity and diabetes in a less invasive manner than its market competitors. This process started with M Diagnostics, as announced last February 19, which held the right to eMosquito.
The eMosquito will be developed as a less invasive way for diabetics to take blood samples for glucose level checks, by penetrating the skin to shallower depths, in less sensitive areas of the body. Currently, diabetics prick their fingers to monitor their blood glucose levels, which can be painful.