Mr. Anoop Kaul, Country Head for India, provided management with a forecast of TBDxV sales for the remainder of 2011. The forecast is based on several factors: (i) the number of orders that are currently being processed through the approval and funding process; (ii) the positive feedback he has received from those state and federal healthcare agencies that he has introduced to the TBDxV system; and, (iii) the support and recommendations that he has received from Indian luminaries such as Dr. Ganguly, Mr. Fernandes.
The forecasted numbers are as follows (these are approximates):
- $5 million in gross revenues
- $2.4 million in net proceeds to Signature Mapping Medical Sciences, Inc.
- 24 TBDxV systems delivered and installed
- 11 different customers
We are very excited about the revenue growth prospects in India, and beyond. In India, Anoop has aggressively marketed the technology as an automated image capture and
visualization technology to improve microscopist performance by lessening eye fatigue and providing visualization capabilities not available through a microscope. With approximately 14,000 laboratories nationwide performing TB sputum diagnostic testing, the revenue potential for TBDxV is staggering. Anoop’s short-term sales strategy is to use these initial system deployments as evaluation and reference sites to springboard sales of TBDxV across the entirety of India. Long-term he intends to use all TBDxV sites as an imbedded base to up sell the automated detection software to be developed in cooperation with the Indian Government under a funding agreement with the Wellcome Trust.
Beyond India, the majority of the World Health Organization’s High-Burden Countries employ the same staining method as India. Establishing a reference base in India will allow us to leverage the technology and Indian references to generate additional revenues in other areas of Southeast Asia. We are actively seeking Country Heads in such areas as China, Indonesia, Vietnam, and the Philippines.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve risks and uncertainties,
including the risks associated with the effect of changing economic conditions, trends in the markets, variations in the Company’s cash flow, competition, celebrity programs, business development efforts, technology availability and cost of materials and other risk factors. Factors that could cause actual results to differ materially are discussed in the Company’s most recent filings with the Securities and Exchange Commission.