WEB NEWS Comments & Business Outlook
BERWYN, Pa., Feb. 27, 2020 (GLOBE NEWSWIRE ) -- Annovis Bio Inc. (NYSE American: ANVS), a clinical-stage drug platform company addressing Alzheimer’s (AD) , Parkinson’s (PD) and other neurodegenerative diseases, was awarded a $1.7 million grant from the National Institutes of Health (NIH) for the Company’s long-term toxicology studies in rats and in dogs of its lead therapeutic compound ANVS401. Annovis began the animal toxicology studies in the fourth quarter of 2019 and expects to complete the studies in the third quarter of 2020.
Annovis previously conducted one-month safety studies in mice, rats and dogs, and conducted two human safety studies in 120 healthy volunteers. In an interim analysis of an ongoing Phase 2a clinical trial in AD patients, the Data Safety Monitoring Board recommended the trial continue without modification. In these one-month studies, ANVS401 was shown to be well tolerated. Chronic toxicology studies are required to allow Annovis to test ANVS401 in humans for extended periods of time. This safety data is applicable to the clinical development of ANVS401 for AD, PD and other chronic neurodegenerative disorders.
“We are pleased to have the funding support of the NIH for our chronic toxicology studies of ANVS401,” commented Maria Maccecchini, Ph.D., CEO of Annovis. “The NIH has supported us with funds and expertise over the years, most recently through the National Institute on Aging ADCS grant which is funding the ongoing Phase 2a clinical trial in AD patients and presently with the grant for the chronic toxicology. The successful completion of the animal toxicology studies, our ongoing Phase 2a study in AD patients and our planned Phase 2a study in PD patients, will position us to enter ANVS401 into pivotal Phase 2/3 studies in both indications to show efficacy.”
Contract Awards
SHENZHEN, China , Aug. 21, 2013 /PRNewswire/ -- ANV Security Group (OTCBB: ANVS) announces today that it has signed Peking University Shenzhen School of Medicine as a new customer. Peking University Shenzhen School of Medicine operates under Peking University Health Science Center (PUHSC) and is China's leading medical teaching institute.
Doctors and medical students will now be able to utilize ANV's Global Intelligent Eye (GIE) platform to remotely observe patients in real-time and communicate with those patients or nursing staff and provide instructions if required.
"As a large institutional customer, the Shenzhen School of Medicine represents a significant opportunity for the GIE platform to prove itself in a more demanding customer environment and validates the stability and reliability of our technology and hardware," said ANV Security Group Chairman, Wilson Wang .
The Company's Global Intelligent Eye (GIE) service allows subscribers, both large and small, to easily monitor their home, office, or facilities from remote locations on any device that is connected to the internet. GIE uses internet protocol and proprietary, true plug-and-play, hardware technology to provide real-time live video and sound feeds to subscriber's internet enabled devices- handhelds, laptops, smartphones and computers.
For just pennies a day per installed unit, ANV's GIE platform is accessible to all internet users in China . Subscribers that sign long-term contracts receive their hardware units for free. With added hardware, GIE is also able to monitor smoke, fire, carbon monoxide, doors and windows, and more. The Company's patented alerting technology can send notifications and alerts using email, text message, or even a phone call.
GIE was officially launched in China one year ago and remains the first consumer-focused video monitoring technology to be widely available across the country.
The Company says that GIE will soon become available in select emerging markets and North America . Inquiries are welcomed
Comments & Business Outlook
ANV Security Group, Inc.
Consolidated Statements of Operations
(Expressed in US dollars)
(Unaudited)
For Three Months Ended
For Six Months Ended
June 30, 2013
June 30, 2012
June 30, 2013
June 30, 2012
Continuing Operations
Revenues
$
21,061
$
286
$
200,936
$
286
Cost of Sales
$
10,597
$
186
$
13,724
$
186
Gross profit
10,464
100
187,212
100
Operating Expenses
Selling and Marketing
24,357
0
45,450
0
General and Administrative
$
329,786
526,445
$
627,377
$
639,419
Research and Development
71,627
0
141,232
0
Total Operating Expenses
$
425,770
526,445
$
814,059
639,419
Operating Loss
$
(415,306)
(526,345)
$
(626,847)
(639,319)
Other Income (Expenses)
Interest Income
$
26
134
$
61
$
285
Interest Expense
0
0
0
0
Loss on disposal of subsidiaries
0
0
0
0
Others, net
12,625
0
75,172
0
Total Other Income (Expense)
$
12,651
134
$
75,233
285
Loss Before Income Tax Expense
$
(402,655)
(526,211)
$
(551,614)
(639,034)
Income Tax Expense, Net of Income Tax Benefit
0
0
0
0
Net Loss from continuing operations
$
(402,655)
$
(526,211)
$
(551,614)
$
(639,034)
Discontinued Operations
Net Income(Loss) from discontinued operations
$
0
$
(5,323,043)
$
0
$
(6,319,145)
Total Income(Loss) for the year
$
(402,655)
$
(5,849,254)
$
(551,614)
$
(6,958,179)
Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustment
$
(21,865)
$
(52,864)
$
(26,389)
$
(43,216)
Comprehensive Loss
$
(424,520)
$
(5,902,118)
$
(578,003)
$
(7,001,535)
Net Loss Per Share – Basic and Diluted
$
(0.01)
$
(0.01)
$
(0.01)
$
(0.01)
Weighted Average Number of Shares Outstanding – Basic and Diluted
56,950,660
74,480,071
56,950,660
74,455,071
(The accompanying notes are an integral part of consolidated financial statements.)
Comments & Business Outlook
ANV Security Group, Inc.
Consolidated Statements of Operations
(Expressed in US dollars)
(Unaudited)
For Three Months Ended
March 31, 2013
March 31, 2012
Continuing Operations
Revenues
$
179,875
$
0
Cost of Sales
$
3,127
$
0
Gross profit
176,748
0
Operating Expenses
Selling and Marketing
21,093
264,090
General and Administrative
$
297,591
$
0
Research and Development
69,605
0
Total Operating Expenses
$
388,289
$
264,090
Operating Loss
$
(211,541)
$
(264,090)
Other Income (Expenses)
Interest Income
$
35
$
151
Interest Expense
0
0
Loss on disposal of subsidiaries
0
0
Others, net
62,547
0
Total Other Income (Expense)
$
62,582
$
151
Loss Before Income Tax Expense
$
(148,959)
$
(263,939)
Income Tax Expense, Net of Income Tax Benefit
0
0
Net Loss from continuing operations
$
(148,959)
$
(263,939)
Discontinued Operations
Net Income(Loss) from discontinued operations
$
0
$
(844,986)
Total Income(Loss) for the year
$
(148,959)
$
(1,108,925)
Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustment
$
(4,524)
$
9,648
Comprehensive Loss
$
(153,483)
$
(1,099,277)
Net Loss Per Share – Basic and Diluted
$
0.00
$
0.00
Weighted Average Number of Shares Outstanding – Basic and Diluted
56,950,660
74,430,071
(The accompanying notes are an integral part of consolidated financial statements.)
Notable Share Transactions
SHENZHEN, China, August 2, 2012 /PRNewswire-Asia / -- ANV Security Group Inc. (OTCBB:ANVS) today announced the company's Board of Directors has approved a stock repurchase program. Under the program, ANV Security Group is authorized to repurchase up to 10 million of its outstanding shares of common stock from time to time over the next 12 months in open market or privately negotiated transactions depending on prevailing market conditions and other factors. The repurchase program may be suspended or discontinued at any time. All purchases will be executed in accordance with federal securities regulations.
"At our current market valuation, we feel that the shares of the Company are highly undervalued," said Wilson Wang, Chief Executive Officer and Chairman of ANV Security Group. "We are making excellent progress in rolling out our technology within the China market and expect significant positive financial results in the coming quarters."
Acquisition Activity
As of May 31, 2012, ANV Security Group, Inc. (the “Company”) entered into an Equity and Intellectual Property Rights Transfer Agreement (the “EIPRTA”) to dispose of all of the shares and related intellectual property of its subsidiary ANV Security Technology (China) Co., Ltd. (“ANV Tech”), by transferring the same to a company owned by its former owner and our director, Tingyi Li, for five million RMB (approximately $800,000) payable in three installments; (i) 20% on Closing, and 40% on each of December 31, 2012 and 2013 and (B) the return to the Company of 7,350,000 shares from Tingyi Li and 2,200,000 shares from former owner Zhengwu Pu of the Company’s common stock. At the same time, the Company sold 100% equity interest in ANV Tech’s four subsidiaries back to former owners of these subsidiaries by return to the Company of 8,000,000 common shares from former owners of four subsidiaries.
The Company elected to dispose of ANV Tech and its four subsidiaries, which owns several manufacturing subsidiaries acquired in 2010, because of declining margins in the technology manufacturing business in China and the large amount of capital that had to be dedicated to manufacturing operations. Management believes that the disposal of ANV Tech and its four subsidiaries will free resources to allow the Company to develop its core business of residential, commercial and government security and monitoring systems, primarily in China. Management also believes that the Company will be able to secure the products it needs for its core business from other manufacturers at reasonable prices.
Comments & Business Outlook
ANV Security Group, Inc.
Consolidated Statements of Operations
(Expressed in US dollars)
(Unaudited)
For the Three Months Ended
March 31, 2012
March 31, 2011
Revenues
$
4,127,819
$
4,919,525
Cost of Sales
3,413,177
3,914,045
Gross profit
714,642
1,005,480
Operating Expenses
Selling and Marketing
516,406
413,245
General and Administrative
1,271,414
873,350
Research and Development
306,592
208,064
Total Operating Expenses
2,094,412
1,494,659
Operating Loss
(1,379,770)
(489,179)
Other Income (Expenses)
Interest Income
15,084
369
Interest Expense
(30,229)
(553)
Others, net
10,700
121,360
Total Other Income (Expense)
(4,445)
121,176
Loss Before Income Tax Expense
(1,384,215)
(368,003)
Income Tax Expense, Net of Income Tax Benefit
275,290
819
Net Loss
$
(1,108,925)
$
(367,184)
Other Comprehensive Income (Loss)
Foreign Currency Translation Adjustment
9,648
108,000
Comprehensive Loss
$
(1,099,277)
$
(259,184)
Net Loss Per Share – Basic and Diluted
$
(0.01)
$
(0.01)
Weighted Average Number of Shares Outstanding – Basic and Diluted
74,430,071
66,130,071
(The accompanying notes are an integral part of these consolidated financial statements.)
3
Investor Alert
On October 17, 2011, the Board of Directors
determined to remove Serena Wang as an officer and director of the Corporation based upon her improper and
unauthorized application of corporate funds to
redeem shares held by shareholders of her choosing.
Liquidity Requirements
We have funded our activities to date primarily through the sales of surveillance and safety products and systems and the
issuance of equity securities .
Comments & Business Outlook
For the three months ended March 31, 2011, revenue was $4,919,525. Net loss for the period was $367,184. As a result of foreign currency translation adjustment, we benefited by $108,000, therefore our comprehensive loss decreased to $259,184, or $0.01 per basic and diluted shares. There is no comparable period for 2010.
Wilson (Weixing) Wang, ANV Security Group Chief Executive Officer stated, "We are very pleased with first quarter revenues, all of which were driven by the surveillance products and systems. We anticipate the surveillance and security product market in China to continue to expand. We believe the sales force we have, combined with the marketing initiatives we have implemented, will allow us to penetrate new customers."
"As we continue to focus on increasing sales and maintaining a high level of customer satisfaction, we increased inventory levels, all of which will provide our customers with product availability. Throughout the first quarter, my team and I spoke to many customers, including new customers, and I am pleased to announce the initial feedback was extremely positive. We continue to provide current customers with a wide assortment of products and services and penetrate new customers through our sales and marketing initiatives and referrals," concluded Mr. Wang.
