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Medolife Rx Provides Comment on Business in Lieu of Webcast Scheduled for June 8, 2021

Burbank, CA – (NewMediaWire) – June 08, 2021 – Medolife
Rx, Inc. (“Medolife”), a global integrated bioceutical company with R&D,
manufacturing, and consumer product distribution, which is a majority owned
subsidiary of Quanta, Inc. (OTC PINK: QNTA), today released the following
statement from management regarding the business in lieu of its previously
scheduled webcast on June 8, 2021.

“I would like to thank all of
our valued shareholders for their interest in our company and continued
excitement for where we are headed. After reviewing the submitted questions and
as we just held our Q1 2021 call, we realized that there were, really, just a
few items that shareholders would like addressed. As such, we have decided to
address them in written form to reach a larger audience.

First, I would like to
reiterate the status of our pending pre-IND submission with the U.S. Food and
Drug Administration (FDA). As most of you know, we have submitted the data that
was requested in response to us from the FDA related to the pre-IND filing. The
FDA then assigned us a case manager that has relayed that we can expect a
further response by mid-June, and we continue to expect this response on or
around June 15. We remain very optimistic on the filing status and will update
our shareholders around the time of the response.

Beyond our pharmaceutical
initiatives, we have been heavily focused in the last few weeks on ramping up
our nutraceutical division. I am proud to announce that we have finalized new
branding that we will be rolling out in the coming weeks, under the name Aelia. We
selected to move forward with a brand name change after we were informed that
we could not trademark our previously announced new branding “QuantRx”. The
name “Aelia” pays homage to our CEO, Dr. Arthur Mikaelian, the founder of the
underlaying polarization technology.  We will continue to sell some of the
great staple products of Quanta, under the new branding while adding new and
truly revolutionary products in pain management, beauty, and general wellness –
all enhanced by the patented polarization technology. We continue to believe
this technology makes our products some of the most potent and efficacious on
the market. Additionally, we are working on finalizing some very exciting
celebrity endorsement deals that we hope to announce in short order. Please
stay tuned for updates on these efforts in the near term as we are just getting
off the ground in this very exciting venture.

Second, many of the questions
submitted had to do with a recent filing we made with the SEC. I would like to
provide some additional insight as to the purpose of this filing and what it
could mean for the future of our company. The filing was a standard notice of
two proposed corporate actions: increasing the number of shares authorized by
the Company and providing authority to the Board of Directors for a potential
reverse split of our shares. Regarding the first point, it is important to note
that authorized and outstanding shares are different numbers. Authorized refers
to the total possible shares that could be issued, and outstanding refers to
the total number of shares the company has issued. Increasing the number of
authorized shares did not automatically increase the number of outstanding. We
increased the number of authorized shares to meet future obligations to issue
shares, be able to issue shares pursuant to a future financing and to allow us
to have a sufficient number of shares to make acquisitions or provide equity
incentives.

Regarding the option to do a
reverse split, I want to highlight that this filing gave authorization to our
Board of Directors to do a reverse split in the future; it did not specify how
or when we would do this. We have yet to decide if or when we would need to do
this; however, again, including it in the filing now gave us yet another tool
to utilize to move to a higher exchange in the future. It did not set an actual
ratio that we would be held to, only a maximum allowable. We believe that
having our company listed on other, more prominent exchanges, will ultimately
lead to larger institutional interest and long-term shareholder value. It was
imperative that we accomplish this now, while we plan for our future.

While I cannot comment much on
recent reactions from the market, I think it is important to highlight that
fluctuations have occurred, which are due to a multitude of reasons, including
and beyond the filing. I hope that our shareholders continue to see the
potential of our business plan and the opportunity that executing on it
creates. We work every day with their interests in mind and are striving to
make smart decisions that will build the long-term value of our Company. That
said, we welcome our shareholders to reach out to a member of our IR team to
discuss the company and its filings in greater detail.     

Finally, regarding questions
concerning our outstanding convertible debt, all of these numbers can be found
in our 10-K and 10-Q filings with the SEC, available on their website.
Currently, we have approximately just over $600,000 of outstanding convertible
debt, entered into by previous management. We are taking steps to address this
debt in a non-toxic way and hope to have an update on this soon.

In closing, I would like to
reiterate my sincerest thanks to those long-term shareholders who have
continued to express excitement for our vision. While some people may not see
what we are trying to accomplish here, there are so many who do and that means
the world to us. We have a first-of-its-kind technology that has the potential
to revolutionize the healthcare space, a robust clinical development pipeline
with products already in the clinic, and a nutraceutical offering that is
second to none. Our future remains bright, and we must keep our eye on it.”

Sincerely,

Dr. Arthur Mikaelian

CEO, Medolife Rx

About Medolife Rx

Medolife Rx, Inc. is a global
biotechnology company with operations in clinical research, manufacturing, and
consumer products. Medolife Rx was created through the merger of Medolife, a
private company founded by Dr. Arthur Mikaelian who pioneered the unlaying
polarization technology that makes the Company’s portfolio of pharmaceutical
and nutraceutical products so effective, and Quanta, Inc., a direct-to-consumer
wellness product portfolio company. The Company’s lead clinical development
programs include Escozine®, a proprietary formulation consisting of small
molecule peptides derived from Rhopalurus princeps scorpions, which is
amplified by the Company’s polarization technology and is being researched as a
treatment of various indications, including COVID-19 and cancer. The Company
has completed preclinical safety and efficacy research on Escozine® and is
pursuing product registration and drug approval in various countries, including
the United States and throughout Latin America.

Through its subsidiary QuantRx,
Medolife manufactures and distributes consumer wellness products in high-impact
consumer areas such as pain relief, beauty, and general wellness. QuantRx
products are designed using Dr. Mikaelian’s polarization technology, which
applies advances in quantum biology to increase the potency of active
ingredients. Ultimately, Quanta’s mission is to deliver better, more effective
ingredients to elevate product efficacy, reduce waste, and facilitate
healthier, more sustainable consumption.

Beyond its own clinical and
consumer applications, the polarization technology used by Medolife and its
subsidiaries has many potential applications. From potentiating
bio-ingredients, to producing more-effective carbon-trapping plants, to
transformative anti-aging solutions, Medolife has the opportunity to upend how
commercial and pharmaceutical products are made and increase their benefits,
while decreasing their chemical concentration.

Forward-Looking Statements

Safe Harbor Statement under the
U.S. Private Securities Litigation Reform Act of 1995: This release contains
statements that are forward-looking in nature which express the beliefs and
expectations of management including statements regarding the Company’s
expected results of operations or liquidity; statements concerning projections,
predictions, expectations, estimates or forecasts as to our business, financial
and operational results and future economic performance; and statements of
management’s goals and objectives and other similar expressions concerning
matters that are not historical facts. In some cases, you can identify
forward-looking statements by terminology such as “anticipate,”
“estimate,” “plan,” “project,”
“continuing,” “ongoing,” “expect,” “we
believe,” “we intend,” “may,” “will,”
“should,” “could,” and similar expressions. Such statements
are based on current plans, estimates and expectations and involve a number of
known and unknown risks, uncertainties and other factors that could cause the
Company’s future results, performance or achievements to differ significantly
from the results, performance or achievements expressed or implied by such
forward-looking statements. These factors and additional information are
discussed in the Company’s filings with the Securities and Exchange Commission
and statements in this release should be evaluated in light of these important
factors. Although we believe that these statements are based upon reasonable
assumptions, we cannot guarantee future results. Forward-looking statements
speak only as of the date on which they are made, and the Company undertakes no
obligation to update publicly or revise any forward-looking statement, whether
as a result of new information, future developments or otherwise.

Contacts:

Tom Nelson

https://ir.quantrx.com/

480-326-8577

Kyle Porter

medolife@cmwmedia.com

858-264-6600

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