American Medical Technol... (CE) (USOTC:ADLI)
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From Dec 2019 to Dec 2024
American Medical Technologies, Inc. ("AMT" or the
"Company") (OTCBB:ADLI) today announced it has executed a five-year
exclusive licensing agreement with Spectrum Dental, Inc. ("Spectrum")
in exchange for a warrant granting the right to purchase 2.5 million
shares of AMT's common stock at $0.20. The warrant will vest over the
term of the licensing agreement. The agreement includes an option, at
either party's request, subject to certain restrictions, for AMT to
purchase the stock of Spectrum.
Spectrum markets professional tooth whitening products under the
brand names Contrastpm(R), Contrastpm(R)plus and Contrastam(R) to
professional dental customers in the United States and around the
world via a wholesale distribution system that includes major dental
supply companies.
"We are excited to add this established tooth whitening product
line to our company. Spectrum products are an excellent complement to
our Hydrobrasion line of products for the general dentistry market,"
stated Roger W. Dartt, President and CEO of AMT.
In addition, AMT signed a three-year manufacturing agreement with
Westside Packaging Inc., the current manufacturer of the Spectrum
product lines.
AMT also announced the sale of its 45,000-square-foot Corpus
Christi facility for $1.9 million to the Sepulveda Group LLC, and will
lease the property back from the new owners.
AMT develops, manufactures and markets high-technology
Hydrobrasion products designed primarily for general dentistry that
are a dramatic alternative to the shot and drill. AMT's patented
Hydrobrasion products provide dentists with a minimally invasive
process that safely removes dental tooth structure and tooth decay by
means of a slurry composed of air, water and micro particles. The
Hydrobrasion technology and recently introduced Hydro Jet product line
lessens patient sensitivity and may be used to treat a patient without
anesthesia. The Company's securities are quoted on the OTC Bulletin
Board under the symbol ADLI, and its website is at
www.americanmedicaltech.com.
The Company makes forward-looking statements in this press release
and in its filings with the Securities and Exchange Commission. The
Company's forward-looking statements are subject to risks and
uncertainties and include information about its expectations and
possible or assumed future results of operations. When the Company
uses any of the words "believes," "expects," "anticipates,"
"estimates" or similar expressions, it is making forward-looking
statements.
To the extent available to it, the Company claims the protection
of the safe harbor for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995 for all of its
forward-looking statements. While the Company believes that its
forward-looking statements are reasonable, you should not place undue
reliance on any such forward-looking statements, which speak only as
of the date made. Because these forward-looking statements are based
on estimates and assumptions that are subject to significant business,
economic and competitive uncertainties, many of which are beyond the
Company's control or are subject to change, actual results could be
materially different. Factors that might cause such a difference
include, without limitation, the following: the Company's inability to
generate sufficient cash flow to meet its current liabilities, the
Company's potential inability to hire and retain qualified sales and
service personnel, the potential for an extended decline in sales, the
possible failure of revenues to offset additional costs associated
with its change in business model, the potential lack of product
acceptance, the Company's potential inability to introduce new
products to the market, the potential failure of customers to meet
purchase commitments, the potential loss of customer relationships,
the potential failure to receive or maintain necessary regulatory
approvals, the extent to which competition may negatively affect
prices and sales volumes or necessitate increased sales expenses, and
the other risks and uncertainties.
Other factors not currently anticipated by management may also
materially and adversely affect the Company's results of operations.
Except as required by applicable law, the Company does not undertake
any obligation to publicly release any revisions which may be made to
any forward-looking statements to reflect events or circumstances
occurring after the date of this report.