SAN FRANCISCO, CA / ACCESSWIRE / February 16, 2022 / Helo Corp. (OTC PINK:HLOC) ("Helo" or the "Company"), a leading developer of wearable, wireless devices and a pioneer at the forefront of digital health, is pleased to announce that it has provided funding to support the development of santéPatch, a technology that claims to enable monitoring of wearer micronutrients.
Helo's funding will be used to validate the technology and assist in bringing santéPatch to market, where Helo's subsidiary, Vyvo Technology Corp intends to use the status of the santéPatch wearer's micronutrient data to inform its AI engine and supply more accurate personalized nutrition to its customers worldwide.
The precision nutrition market is predicted to grow significantly over the next few years. Unhealthy eating habits, hectic lifestyles, and the rising prevalence of various diseases drive demand for personalized nutrition, which in 2020 created a global market of more than US$8 billion. This market is expected to exceed US$24 billion in 2028, according to Research and Markets.
"Under its Vyvo brand, Helo seeks to grow its share of the precision nutrition market using non-invasive technology to measure individual customer mineral and vitamin data to identify their specific deficiencies, so that our customers only take what they need," said Fabio Galdi, Chairman and CTO of Helo Corp. "We are excited to add the benefits of measuring vitamins and minerals to the already wide range of biomarkers detected by our Life Sensing Technology™, deployed with all our devices. We expect that santéPatch's technology will provide additional data sources to inform our AI process further and provide even more accurate personalized nutrition to our customers worldwide.
"We seek to bring greater transparency to the nutrition and supplement industry," he continued, "by using santéPatch technology to demonstrate to our customers the change in their micronutrient levels when they take vitamins and minerals. This approach fits with our corporate vision of using life-changing technology to benefit our customers worldwide."
According to santéPatch's founder, Yasar Tunc, "santéPatch uses an advanced biochemical process (called reverse iontophoresis) built into the patch worn on the skin to attract nutrients present in the fluid around skin cells. A spectrometer micro-sensor in the patch non-invasively measures the fluid for nutrients and provides a view of the vitamin and mineral levels present. This data can then be transmitted wirelessly to the cloud for further analysis. The whole process is easy, convenient, pain-free, and real-time (after wearing the patch at least 15 minutes)."
An overview of santéPatch technology is explained in the figure above and in santéPatch's video.
Helo Corp has provided £150,000 in convertible debt funding to Maverick Group (Investments) Ltd. and Yasar Tunc to support the development of santéPatch. This convertible debt is repayable in 45 days from closing (or by a later date to which the parties agree) together with interest at the annual rate of 5%, unless converted into 16.7% of the equity capital of a company to be formed into which the santéPatch technology, related intellectual property and assets will be transferred.
"We are delighted to support Yasar and the Maverick Group in bringing this exciting technology to market. Helo's funding intends to fast-track the validation of the santéPatch technology and bring it closer to mass production," said Helo's CEO, Sean McVeigh. "As part of this agreement, Helo will obtain a 16.7% share in the company that will hold the IP rights to the santéPatch technology if the debt is converted."
"In addition," he continues, "this micronutrient technology could enable Vyvo to become a disruptive player in the supplement industry, allowing it to adopt a demonstrable customer data-driven, decision-making approach to delivering precision nutrition to our customers worldwide."
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as may, "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," potential and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates, and projections about the Company and the industry in which the Company operates, but involve several unknown risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the OTC Markets and the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
SOURCE: Helo Corp.