Aptilon Corporation (TSXV:APZ)
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MONTREAL, April 30, 2012 /CNW/ - Aptilon Corporation ("Aptilon or the "Company") , a leader in online access, engagement and interaction with physicians and healthcare professionals on behalf of pharmaceutical and life sciences companies, today announced a series of measures to respond to project modifications, ongoing delays, and internal restructuring by its clients. Chairman and CEO Roger Korman, Ph.D. stated, "As highlighted last year, leading US pharmaceutical manufacturers have announced major reductions in their sales and marketing personnel and functions. While such reductions will lead to new opportunities as functions are outsourced, presently the Company must respond to reductions in project scope by its clients and revenue levels that are expected to be lower than anticipated." In response to this challenging situation, the Company has taken the following measures:
-- Reached agreement with lenders to renegotiate the payment
schedule of the debt held by the DMD operating unit ("DMD
Division" or "Data services segment"). The new debt plan will
maintain debt payments at the level of 2011 for the remainder
of the year at a level that the current cash-flow for the year
is expected to sustain.
-- Reduced the general operating and personnel expenses across the
Company. Certain staff reduction measures have been implemented
on a temporary basis so that they can be adjusted as the level
of revenue and cash-flow increase.
-- Reached agreement with lenders regarding the payment schedule
of the long-term debt with the Canadian lenders of the Aptilon
operating unit. The new debt plan extends the repayment periods
and reduces the short-term portion of the loans.
-- The Board of Directors, after discussion to reduce the size and
cost of the Board, has accepted the resignation of Messrs.
Tommy Boman and Robert Steinfeld.
-- As previously stated, "The Company is dependent upon, amongst
other things, attaining a satisfactory revenue level, the
support of its customers, a return to profitable operations and
the generation of cash from operations. These matters are
dependent of a number of factors outside of the Company's
control and there is uncertainty about the Company's ability to
continue as a going concern.
The Company also notes advances in the following areas:
-- Aptilon has successfully implemented in-field remote live
selling via 3G/4G/LTE tablets and enabled one-click access to
live meetings with key physician leaders (KOLs) online as part
of its KOL Connect Solution.
-- Aptilon's solution continues to attract attention by leading
sales and marketing service companies who serve the
pharmaceutical industry. In order to create new partnerships
while allowing Company management to focus on operations,
Aptilon has retained Excel Partners to represent the Company in
future partnerships.
-- The DMD division has compiled the largest physician email
database authenticated to the database of the American Medical
Association (AMA). At more than 1.5 million email addresses
appended to 700,000 US physicians, the DMD database is 50%
larger than its next largest competitor.
-- DMD has raised its market share, according to the American
Medical Association, to 65% of medical publishers who use the
AMA database.
-- DMD has signed a one-year exclusive contract to provide email
services to Daiichi Sankyo Inc.
About Aptilon Corporation
Aptilon enables pharmaceutical, biotech and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through: video and mobile detailing, ReachNet(SM) Physician Access Channel, the DMD database and permission-based email services. Top US pharmaceutical companies and respected healthcare organizations have adopted Aptilon's solutions to market to, engage and interact with leading healthcare practitioners. For more information, visit www.aptilon.com.
ReachNet(SM) is a service mark of Aptilon Corporation, other trademarks are the property of their respective owners.
Forward-looking statements
This news release may contain forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management of Aptilon. A number of factors could cause actual events, performance or results to differ materially from the events performance and results discussed in the forward-looking statements. These forward-looking statements are made as of the date hereof and Aptilon does not assume any obligation to update or revise them to reflect new events or circumstances.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Aptilon Corporation
CONTACT: Mr. Denis MartineauPresidentAptilon Corporation1-888-544-8866investors@aptilon.com