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Guardion Health Sciences (GHSI) will hold its 2020 Annual Meeting of Stockholders virtually on October 29, 2020, due to COVID-19 health concerns. Stockholders as of September 1, 2020, can attend and vote online. Key matters include board elections, ratifying the public accounting firm, and approving an amendment to increase shares in the Equity Incentive Plan from 3,000,000 to 10,000,000. Additionally, a proposal for a potential reverse stock split is on the agenda, aimed at regaining compliance with NASDAQ's $1.00 bid price requirement.
Guardion Health Sciences (Nasdaq: GHSI) announced that Ho Wah Genting Berhad (HWGB) has received product registration approval for Astramern Nutra V in Malaysia, effective until August 21, 2025. This dietary supplement focuses on immune support and features important vitamins including N-acetyl-L-cysteine. HWGB has exclusive distribution rights for Astramern Nutra V and its counterpart, Astramern Nutra H, which is currently pending approval. Guardion fulfilled an initial order of $890,000 from HWGB in June 2020, indicating positive momentum in their strategic partnership.
Guardion Health Sciences has appointed Andrew C. Schmidt as its new CFO. With over 20 years of experience in public companies, Schmidt aims to enhance the company's financial strategies, potentially driving significant revenue growth and profitability. CEO Dr. David Evans praised Schmidt's expertise, highlighting the synergy of their products and sound financial strategy as a pathway to expanding their position in the nutrition industry. Guardion develops medical foods and devices, focusing on ocular health and nutraceuticals that promise health benefits.
Guardion Health Sciences has announced that its subsidiary, VectorVision, received trademark approval from the Korean Intellectual Property Office for the CSV-2000, the first device to combine standardized contrast sensitivity testing with a full suite of vision tests. This device features AcQviz technology for automatic monitor calibration to recommended light levels for vision testing. The approval marks a significant step for Guardion as it seeks to enhance market presence and protect its proprietary products.
Guardion Health Sciences (Nasdaq: GHSI) announced the submission of a formal patent application for its proprietary formula, GlaucoCetin, aimed at providing nutritional support for eye disease management. This application follows a provisional submission from June 2019. The formula targets mitochondrial dysfunction, a factor in glaucoma-related vision loss. Additionally, Guardion has completed an $875,000 order for a nutraceutical product, Astramern, boosting its operating revenues for Q2 2020. The Company aims to expand its market presence in ocular health.
Guardion Health Sciences has successfully fulfilled its initial order of Astramern from Astramune Sdn Bhd, a subsidiary of Ho Wah Genting Berhad. The shipment will contribute to the company's operating revenues for the quarter ending June 30, 2020. Astramern and acuMMUNE™ are part of Guardion's immune support product line, which aims to enhance immunity and reduce inflammation linked to respiratory infections. The company is also exploring additional business opportunities in the Far East despite current operational challenges.
Guardion Health Sciences has appointed Dr. David Evans as Interim President and CEO, following the resignation of Michael Favish. Dr. Evans, previously Chief Science Officer and founder of VectorVision, aims to refine the company's business plan and enhance shareholder value. Guardion has strengthened its balance sheet through prior public offerings and is focused on developing medical foods, devices, and nutraceuticals in ocular health. An extensive search for a permanent CEO is underway, with updates to shareholders promised as they become available.
Guardion Health Sciences (Nasdaq: GHSI) announced the publication of a study comparing its micronized liquid formula, Lumega-Z, to the standard AREDS 2 supplement. The study revealed that Lumega-Z has a 3–4-fold higher absorption rate, leading to significant improvements in blood carotenoid levels and macular pigment optical density (MPOD). Published in the peer-reviewed journal Nutrients, the findings support Lumega-Z's potential in treating age-related macular degeneration, addressing a major cause of vision loss worldwide.