Kelyniam Corporate Update

Rhea-AI Summary

Kelyniam Global (KLYG) has announced significant financial achievements for calendar year 2024, including record revenues exceeding $3.3 million, representing at least 25% growth. The company's operating income increased by at least $500,000 compared to 2023.

The company has completed a comprehensive review of legacy and Covid-related matters, which will be reported as Restructuring Costs and Non-cash Compensation in their annual financial statements. Additionally, KLYG is planning to move to the OTCID Basic Market in 2025 and is considering a reverse stock split after their June 2025 shareholders meeting to improve share liquidity.

The company will host an investor presentation on January 29th, 2025, at 2:00 EST in collaboration with GeoInvesting. Kelyniam specializes in rapid production of custom cranial and maxillo-facial prosthetics using advanced medical grade polymers.

Positive

• Record revenue exceeding $3.3 million in 2024
• 25% year-over-year revenue growth
• Operating income increase of at least $500,000 compared to 2023
• Planned upgrade to OTCID Basic Market in 2025

Negative

• Potential shareholder dilution from upcoming reverse stock split
• Restructuring costs and non-cash compensation charges to be reported
• Current share price below $1, limiting trading liquidity

News Market Reaction

-13.57%

1 alert

-13.57% News Effect

On the day this news was published, KLYG declined 13.57%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

A RECORD YEAR FOR KLYG!

CANTON, Conn., Jan. 21, 2025 /PRNewswire/ -- Ross Bjella, Kelyniam's CEO, announced today a number of important updates ahead of the recurring announcements associated with the Company's traditional March corporate disclosures: 

• Kelyniam Global will announce calendar year '24 record revenues in excess of $3.3 million resulting in growth of at least 25%. The Company will report an increased operating income of at least at half million dollars ($500,000) over calendar year 2023. Further details on operations results will be reported later in mid-March,
  
  
• The Company completed an exhaustive review of legacy and Covid-related costs, assets and obligations and will report several matters outside of continuing operations in its annual financial statements. These matters, the majority of which are non-cash, represent a corporate reset and involve obsolete inventory, disposition of assets, satisfaction of compensatory obligations and a comprehensive review of the balance sheet for stranded assets and obligations. The results of this exercise will be reported as Restructuring Costs and Non-cash Compensation.
  
  
• The Company has been notified by its Broker-Dealer marketplace, OTCIQ, that it will be changing the requirements for the exchange where Kelyniam shares are traded. The Company plans to take the necessary steps to qualify for and move to the new OTCID Basic Market in 2025.
  
  
• The Company is contemplating a reverse stock split to occur after the annual shareholders meeting in late June 2025. The Company is undertaking this effort to provide our shareholders with additional depository and liquidity opportunities not currently available due to the current share price offering of less than $1. The Company has not yet decided the extent of reverse split to be recommended, if at all, to the shareholders for approval.
  
  
• On January 29th, 2:00 EST, the Company will be conducting an investor presentation at the invitation of GeoInvesting.(www.Geoinvesting.com). The discussion will reference a company slide presentation and will be held in a fireside chat format. Access to the presentation is provided by GeoInvesting. The meeting invitation materials can be found at the following registration link:

https://us02web.zoom.us/meeting/register/vZE43p_zSw-_ZjY47nvETQ

"Kelyniam left 2024 with strong momentum and we are excited about the prospects for the business in 2025," said Bjella.

Other information regarding the Company can be found on the company's website at www.Kelyniam.com.

Kelyniam Inc., specializes in the rapid production of custom prosthetics utilizing computer aided design and computer aided manufacturing of advanced medical grade polymers.  The Company develops, manufactures, and distributes custom cranial and maxillo-facial implants for patients.  Kelyniam works directly with surgeons, health systems and payors to improve clinical and cost-of-care outcomes. Kelyniam's web site address is www.Kelyniam.com.

As a cautionary note to investors, certain matters discussed in this press release are forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the Company's ability to execute its service and product sales plans; and changes in the status of ability to market products. 

View original content:https://www.prnewswire.com/news-releases/kelyniam-corporate-update-302355673.html

SOURCE Kelyniam Global Inc

FAQ

What is Kelyniam's (KLYG) revenue growth for 2024?

Kelyniam reported record revenues exceeding $3.3 million for 2024, representing at least 25% growth compared to the previous year.

When is KLYG planning to implement the reverse stock split in 2025?

Kelyniam is considering implementing a reverse stock split after their annual shareholders meeting in late June 2025, though the exact split ratio has not been determined.

What was KLYG's operating income increase in 2024?

Kelyniam's operating income increased by at least $500,000 compared to calendar year 2023.

When will KLYG move to the OTCID Basic Market?

Kelyniam plans to take necessary steps to qualify for and move to the OTCID Basic Market in 2025.

When is Kelyniam's (KLYG) investor presentation with GeoInvesting?

Kelyniam will conduct an investor presentation with GeoInvesting on January 29th, 2025, at 2:00 EST.