Ehave Issues Shareholder Letter and Provides Corporate Update
01/31/2022 - 08:30 AM
MIAMI, Jan. 31, 2022 (GLOBE NEWSWIRE) -- Ehave, Inc., (OTC Pink: EHVVF) (the “Company”), a provider of digital therapeutics for the psychedelic and mental health sectors, today issued a letter to shareholders from its Chief Executive Officer, Ben Kaplan.
Dear Fellow Shareholders,
Ehave is focused on progressing Psychedelics-to-Therapeutics by engineering novel compounds and new treatment protocols for treating brain health led by technology. We have built a network of like-minded scientists and mental health professionals combined with technology, who share our mission to create safe and effective therapeutics by leveraging clinical data to help us address mental health issues to achieve optimal patient outcomes.
Why Ehave is Important In The Psychedelic Ecosystem
Before I discuss the upward inflection points Ehave achieved in 2021, I would like to provide a reminder of the problem we are targeting and our mission to impact it. At its core, the problem is simple – In America, 21% of U.S. adults experienced mental illness in 2020 (52.9 million people), 5.6% of U.S. adults experienced serious mental illness in 2020 (14.2 million people), 16.5% of U.S. youth aged 6-17 experienced a mental health disorder in 2016, 6.7% of U.S. adults experienced a co-occurring substance use disorder and mental illness in 2020, and suicide is the 2nd leading cause of death among people aged 10-34. We are confident in our ability to deliver solutions because we have built a team that understands the challenges facing mental health.
Reflecting on 2021, I am very grateful for the accomplishments and progress we have made. As much of the heavy lifting has been completed, I am more positive than ever on both Ehave and the opportunities that lie ahead. Last year was a foundational year that set the stage for Ehave by developing breakthrough products and assembling a talented and expert team to execute our strategy for the future. As we move forward in 2022, we find ourselves strategically positioned with a strengthened balance sheet, a deep bench of experienced industry professionals, an exceptional portfolio of products and services, and an opportunity to provide an increased quality of mental health through data based psychedelic medicine. With a great deal of the development accomplished, we plan to engage with what I believe will be yet another transformative year for the company as we move towards monetizing Ehave's investments by licensing our technology to other enterprises in an effort to advance research and commercialization of psychedelics.
Mycotopia Therapies
On December 28, 2020 Ehave sold 100% of its Mycotopia Therapies (OTC: TPIA) subsidiary to 20/20 Global Inc. for $350,000 and 75.77% of 20/20 Global’s outstanding shares in order to maximize Mycotopia Therapies value for our shareholders. The company was subsequently renamed Mycotopia Therapies and is traded on OTC Markets under the symbol TPIA. Less than a year later, Mycotopia Therapies announced it had signed an LOI to explore a merger with Ei.Ventures $360 million transaction that includes applying to list the new company's shares on NASDAQ. Fulfilling our promise to maximize Mycotopia Therapies value for our shareholders, Ehave announced plans 30% of its PSLY.COM holdings to Ehave shareholders on a pro-rata basis. We anticipate this happening in the first half of 2022.
Ei.Ventures’ flagship botanical psilocybin-based formulation Psilly is a whole-plant botanical psilocybin-based formulation, which is currently in the pre-clinical phase. The goal of the combined companies would be to complete pre-clinical and phase 1 trials and launch therapeutic Psilly into jurisdictions where psilocybin is legal. Ei.Ventures recently announced the acquisition of a 12x12 estate in The Sandbox, a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum blockchain, which represents the third-largest land sale in the Metaverse valued at $2.22M . The land will be called PSLY.COM, the name of the soon-to-be merged company of Ei.Ventures with Mycotopia Therapies.
KetaDASH Home Delivery Service
Early in 2021, Ehave announced plans for KetaDASH
After years of continued work to develop its proprietary digital therapeutics technology, Ehave is ahead of other psychedelic companies that are in the process of building integrated technical platforms and comprehensive toolsets to deliver psychedelic inspired medicines and experiential therapies combined with digital therapeutics. Ehave also plans to launch brain mapping ketamine clinical trials using Brain Scientific technology in Miami with Tristar Wellness. The clinical trial, originally planned for year-end 2021, but delayed by Covid, will establish the statistical correlation between the ketamine treatment and patient improvement from the disorders. We plan to utilize an Institutional Review Board, which will review all research involving human subjects and implement policies and procedures regarding such research.
KetaDASH offers Ehave shareholders our fastest path to becoming a revenue generating company. KetaDASH offers ketamine for treatment resistant depression, anxiety, PTSD, and other conditions. After a short telemedicine visit, an experienced nurse will arrive at your location of choice to administer the sublingual treatment. Ehave plans to start its KetaDASH service this month in the San Francisco and Sacramento California area. Through our agreement with the telemedicine platform getheally.com, KetaDASH will have access to doctors in all 48 continental states. This will allow us to scale KetaDASH and expand it quickly. It is important to note Ehave and KetaDASH comply with all federal regulations. In an effort to continue to be compliant, our business plan calls for pairing each patient with a nurse to administer the treatment. I would like to invite you to learn more about the products and services offered by KetaDASH at www.ketadash.com
MegaTeam
Ehave's MegaTeam assessment and rehabilitation products are built on established methodologies for the measurement of cognitive abilities in populations with attention deficit hyperactivity disorder (“ADHD”). The MegaTeam Ehave’s Ninja Reflex
Ehave has conducted two Clinical Trials at the Hospital for Sick Children in Toronto for its MegaTeam-videogame as an intervention/treatment for ADHD. One has been closed and the second is ongoing.https://clinicaltrials.gov/ct2/show/NCT02827188
Our second trial started April, 2018 and is ongoing under supervision of Dr. Jennifer Crosbie with over 100 patients recruited to date. The Clinical Trial was sponsored by The Hospital for Sick Children in Ontario, Canada and was titled Cognitive Restructuring in ADHD: Functional Training (CRAFT) study. The objective of the study was to develop a non-pharmacological intervention program for children with ADHD. The Canadian government invested over $1,000,000.00 in grants in this closed study. Investors can find more information on our Clinical Trial on the U.S. National Library of Medicine's Clinical Trials website at https://clinicaltrials.gov/ct2/show/NCT03502239
HPPD Study with University of Melbourne
In 2021 our research took us to the other side of the world as we announced a partnership with the University of Melbourne to gather data and bio-markers to target Hallucinogen Persisting Perception Disorder (“HPPD”) . We look forward to continuing this partnership into 2022 and will look to create bio lines and a testing revenue model as well as screening products capable of indicating HPPD. Hallucinogen-persisting perception disorder, or HPPD, can cause a person to keep reliving the visual element of an experience caused by hallucinogenic drugs. Ehave believes the key to widespread acceptance for psychedelics is a focus on the good as well as the bad, which is why we are investing in this series of studies on HPPD.
Currently, researchers at the University of Melbourne have completed the necessary documents required for university ethics approval for online study of HPPD, and are updating the ethics documents for re-submission before the pilot can take place This includes recruitment, plain language statement, consent form, and debriefing. The researchers have also submitted a full ethics application, and are awaiting a decision on minimal risk accreditation. They have received preliminary approval for the pilot project to be considered “low or negligible risk,” and received ethics board review feedback on the submission seeking clarification on the role of funders regarding data, as well as minor clarifications on surveys/tasks being used.
MetaHealthU
With the growing popularity of the Metaverse, we believe 2022 will be a great year for our MetaHealthU
The social connectivity aspects of this version of the app usher in a new era of digital health where users create and become part of their ‘social health network’. Meta HealthU users can create their own health-oriented Campaigns and Challenges and invite their friends, family and colleagues to participate in these Campaigns and Challenges. Combining the social aspects of health with the ability for users to create their own health-related challenges and campaigns provides powerful incentives to be and to stay healthy. For example, users can chip in a participation fee in the form of OmPoints to a “Challenge Purse” and compete to win OmPoints from the purse. The digital wallet connectivity with the blockchain enables users to bundle and share their health records in a secure and seamless way while earning OmPoints. The digital wallet stores reward points users can accumulate by participating in health-related Campaigns and Challenges. Institutions, such as Hospitals and Pharmaceutical companies, can fund health-related campaigns or research, create cohorts and invite them to participate. Using the Campaign Wizz Bridge Application Dashboard, they can reward participants with OmPoints for taking part in clinical trials or for adopting a healthy lifestyle. Users will be able to redeem OmPoints they have accumulated over time for Amazon Gift Cards or other gift cards which they can use for purchases.
Our health wallet is based on MyEtherWallet which will in the future allow users to mint their health records as an NFT. The function of having an immutable record of ownership or agreement minted onto a blockchain has such rich potential to impact so many industries. The most exciting use cases beyond the current iteration of NFTs include medical records, clinical trial results, and retreat results.
Ehave Dashboard Is Now Part Of MetaHealthU
The Ehave Dashboard is our flagship product. Over the years it has evolved into a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insight using Blockchain technology. Through our technology we offer Offline Encrypted Digital Records Empowering Healthcare providers and patients and it's a powerful machine learning and artificial intelligence platform using artificial intelligence to extract deep insights from audio, video and text to improve research with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools.
Ehave has developed a medical record exchange plugin that will allow patients to own their own healthcare records and work more closely with medical professionals and psychedelic researchers to target conditions that are poorly addressed by the healthcare system today, such as chronic diseases, treatment-resistant depression, and neurological disorders. Plans for 2022 include monetizing this asset. Ehave also formed a partnership for our Dashboard with Health Wizz, a Digital Healthcare IT venture focused on FHIR interoperability and employee wellness, and BurstIQ, the leading provider of blockchain-based data solutions for the healthcare industry. Ehave will use BurstIQ's privacy-protecting technology to link clinical trial data using its Dashboard and AI to health data from various sources, including wearables, lab reports, and doctor and hospital visits. Ehave allows us to provide our Dashboard users an opportunity to manage their personal medical records and retrieve them through a dedicated instance on the AWS (Amazon Web Services) platform.
Also in 2022, Ehave plans to monetize the AI technology it licensed from Vastmindz to expand the Ehave Dashboard and Ehave Medical App offerings. The AI technology will provide the Ehave Dashboard and Ehave Medical App with the ability to identify an individual's physiological condition, such as Heart Rate, Heart Rate Variability (HRV), Respiration Rate, Oxygen Saturation Level, and other vital statistics. These changes in physiological condition will be identified by extracting information about changes in light absorption on an individual’s facial skin. No different than taking a selfie, the changes are captured within the RGB pixel values of camera frames and converted into various physiological vitals utilizing Vastmindz proprietary AI.
In Closing
Also in 2021, Ehave appointed Jeffrey D. Kamlet, MD, FASAM, DABAM to the position of Chief Medical Officer. Dr. Kamlet brings more than 30 years of Internal Medicine, Addiction Medicine and Pain Management experience to Ehave. He has also served as a Principal Investigator on over 20 major pharmaceutical clinical trials.
Moving forward we will continue to pursue a listing on a Canadian Stock Exchange and uplisting to the OTCQB Exchange, both of which were delayed in 2021 due to Covid. We will also continue to pursue closing the acquisition of 100% of Moksha Digital Software Pvt. Ltd., a provider of medical imaging software and the creator of the FDA cleared CuriePACS and CurieRIS solutions.
Our diverse team is our strength. As a result, we actively promote diversity and inclusion in all our projects by ensuring minority, women-owned, and small business participation in our industry. In 2021, we announced our firm commitment to sustainability and corporate responsibility, and we believe non-financial factors, such as environmental, social, and governance are a major part of identifying material risks and growth opportunities.
We look forward to sharing our accomplishments in the coming year as we strive to create value for our customers, shareholders, and employees – and we thank all our stakeholders for their support of our mission.
Sincerely,
Ben Kaplan
About Ehave, Inc.
Ehave, Inc. is a provider of digital therapeutics delivering evidence-based therapeutic interventions to patients. Our primary focus is on improving the standard care in therapeutics to prevent or treat brain disorders or diseases through the use of digital therapeutics, psychedelics, independently or together, with medications, devices, and other therapies to optimize patient care and health outcomes meeting privacy and HIPAA & GDPR Compliant. Our main product is the Ehave Dashboard which is a mental health informatics platform that allows clinicians to make objective and intelligent decisions through data insight using Blockchain technology. The Ehave dashboard offers Offline Encrypted Digital Records Empowering Healthcare providers and patients and it's a powerful machine learning and artificial intelligence platform using artificial intelligence to extract deep insights from audio, video and text to improve research with a growing set of advanced tools and applications developed by Ehave and its leading partners. This empowers patients, healthcare providers, and payers to address a wide range of conditions through high quality, safe, and effective data-driven involvement with intelligent and accessible tools.
Forward-Looking Statement Disclaimer
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the initiation, timing, progress and results of the Company’s research, manufacturing and other development efforts; (ii) the Company’s ability to advance its products to successfully complete development and commercialization; (iii) the manufacturing, development, commercialization, and market acceptance of the Company’s products; (iv) the lack of sufficient funding to finance the product development and business operations; (v) competitive companies and technologies within the Company’s industry and introduction of competing products; (vi) the Company’s ability to establish and maintain corporate collaborations; (vii) loss of key management personnel; (viii) the scope of protection the Company is able to establish and maintain for intellectual property rights covering its products and its ability to operate its business without infringing the intellectual property rights of others; (ix) potential failure to comply with applicable health information privacy and security laws and other state and federal privacy and security laws; and (x) the difficulty of predicting actions of the USA FDA and its regulations. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading "Risk Factors" in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC's website, http://www.sec.gov
For Investor Relations, please contact:
David Kugelmanir@ehave.com
