Company Completes Two Year Audit And Will Be Subject To The Reporting Requirements Of The SEC Exchange Act Of 1934, As Amended; Its Regulation A Offering Is Fully Subscribed For $5 million.
KING OF PRUSSIA, PA / ACCESSWIRE / November 22, 2021 / Wearable Health Solutions Inc. (OTC PINK:WHSI), is a manufacturer of multiple lines of proprietary personal medical alarm and home security devices for seniors and emergency response systems for employees that work alone. The company which markets its products to and through its global distribution network of independent dealers which re-sell products directly to consumers, hospitals, and other related providers in the home healthcare and home security markets, today announced that it has filed a Form 10 Registration Statement with the United States Securities and Exchange Commission pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended and filed as of November 19th 2021. In addition, the Regulation A Offering is now closed to investors.
Harrysen Mittler, Chairman & CEO, of Wearable Health Solutions Inc. stated that: "With the Company now sufficiently capitalized we are poised to increase inventories for our next generation of Personal Emergency Response Systems (PERS) devices ready for sales launch in early 2022. In addition, we are retiring some corporate debt and hiring additional personnel to assist us in marketing our next generation of technologies and products globally. Also, transparency for shareholders, and increased access to the capital markets has been achieved since our recent filing of Form 10 which includes our audited financial statements for the previous two year period. Once our Form 10 Registration Statement is effective, we will consider an up listing to a broader stock exchange which could expand our exposure to institutional investors, money managers, family office funds, broker dealers, and other investors which is an important milestone in our corporate progression."
The Form 10 filing provides information about the Company's operations, including an overview of the business strategies, risk factors, and financial statements. We believe that the ongoing obligation to timely file with the SEC will help the Company's investors make more informed and educated investment decisions about the Company.
A copy of the Form 10 is available at https://www.sec.gov/Archives/edgar/data/1443089/000168316821005831/wearable_10-12g.htm
The Company's voluntary filing of the Form 10 is subject to SEC review, and upon its effectiveness, the Company will be subject to the reporting requirements of the Exchange Act. Form 10 registration statements become effective sixty days after the initial filing date regardless of whether there are outstanding SEC comments.
Following the Effective Date, the Company is now subject to the reporting requirements of the SEC and the Exchange Act of 1934, as amended. As such, the Company will begin filing annual reports with the SEC on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and additional reporting obligations related to proxies, shareholder actions, and stock ownership rules as required.
Wearable Health Solutions Inc.(WHSI) is a personal monitoring technology developer and marketer focused on mobile alert and tracking devices for emergency medical and occupational safety markets worldwide. WHSI generates revenues from the sale of its medical alarm devices and recurring service fees based on monitoring subscription plans. In addition to the U.S. and Canada, which contribute a vast majority of the Company's business volume, WHSI has also sold its solutions to international destinations including New Zealand and the Caribbean. On going marketing efforts with the launch of our next generation devices may include dealer networks in Australia, Brazil, UK and the European Union.
About Wearable Health Solutions:
The Company manufacturers medical alarm devices that are used to summon help in the event of an emergency for users. The product is designed and marketed primarily to the elderly, physically disabled and individuals living alone.
We provide IOT mobile health (mHealth) products and services to dealers and distributors throughout the globe. As a leader in the rapidly growing medical alarm device and eHealth sector, we provide innovative wearable healthcare products, tracking services, and turn-key solutions that enable our users to be proactive with their health, as well as safe and protected at all times. Our products and services are always state-of-the-art and cost effective. Through our culture, our drive, and the expertise of each individual employee, we are uniquely positioned to build shareholder value by setting the highest standards in service, reliability, and safety in our rapidly growing industry.
Our Flagship product 4G iHelp MAX is a personal emergency response system, (PERS) that is used to summon help in the event of an emergency at home. Currently approximately 60 % of all medical alarms sold in the USA are first generation technologies that require the user to speak and listen through a central base station unit. Our products, however offers a speaker in the pendant enabling the user to simply speak and listen directly through the pendant in the event of an emergency. This device fashions a cellular medical alert system, blue tooth and WI-FI enabled features that operates on a 4G network. Operating capabilities commence on AT&T network (GSM-Global).
The 4G iHelp MAX device showcases new features including - Bluetooth, Wifi, fall detection, geo-fencing (the ability to pre-set an area and alert loved ones if the device user enters or leaves a pre-determined area), medication reminders, voice command, and others.
Securities Exchange Act of 1934, as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue," "will," "may," "could," "should," "expect," "expected," "plans," "intend," "anticipate," "believe," "estimate," "predict," "potential," and similar expressions are intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Wearable Health Solutions and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to (i) Wearable Health Solutions ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Wearable Health Solutions ability to maintain existing, and secure additional, contracts with users of its solutions; (iii) Wearable Health Solutions ability to successfully expand in existing markets and enter new markets; (iv) Wearable Health Solutions ability to successfully manage and integrate any acquisitions of businesses, solutions or technologies; (v) unanticipated operating costs, transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Wearable Health Solutions business; (viii) changes in government licensing and regulation that may adversely affect Wearable Health Solutions business; (ix) the risk that changes in consumer behavior could adversely affect Wearable Health Solutions business; (x) Wearable Health Solutions ability to protect its intellectual property; (xi) local, industry and general business and economic conditions. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent quarterly report on filed by Wearable Health Solutions with the Securities and Exchange Commission. Wearable Health Solutions anticipates that subsequent events and developments may cause its plans, intentions and expectations to change. Wearable Health Solutions assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
SOURCE: Wearable Health Solutions Inc.