August 01, 2014 2:25 AM ET

Healthcare Equipment and Supplies

Company Overview of Victhom Human Bionics Inc.

Company Overview

Victhom Human Bionics Inc. engages in the discovery, development, manufacture, and commercialization of bionic devices in the field of orthotics and prosthetics. The company owns patents in the field of orthotics and prosthetics, including intellectual property used in the Power Knee; and a royalty agreement related to the Neurostep System and neuromodulation products for sleep apnea and epilepsy indications. The company’s Neurostep System is an implantable neuromodulator designed to treat gait disorders; and Power Knee is motor-powered prosthesis for above-knee amputees. It also develops implantable-closed-loop system (CLS) devices, such as the Bionized CLS Neuromodulator to treat gait diso...

5365, Jean-Talon East

Suite 204

Montreal, QC H1S 3G2

Canada

Phone:

438-380-5244

Fax:

438-381-1530

Key Executives for Victhom Human Bionics Inc.

Chief Executive Officer
Acting Chief Financial Officer and Director of Finance
Chief Operating Officer of Neurobionix Business Unit
Vice President of Business Development
Director of Research & Development Programs
Compensation as of Fiscal Year 2014.

Victhom Human Bionics Inc. Key Developments

Victhom Human Bionics Inc., Special/Extraordinary Shareholders Meeting, Apr 23, 2013

Victhom Human Bionics Inc., Special/Extraordinary Shareholders Meeting, Apr 23, 2013., at 11:00 US Eastern Standard Time. Location: 1000 De La Gauchetière Street West. Agenda: To consider, pursuant to an interim order of the Superior Court of Québec dated March 15, 2013 and if deemed advisable, to pass, with or without variation, a special resolution approving an arrangement whereby all Common Shares and Series A Shares will be acquired by Ergoresearch Inc., the full text of the Shareholders' Arrangement Resolution is set in Schedule A accompanying the management proxy circular dated March 22, 2013 as more particularly described in the Circular; and to transact such other business as may properly come before the Meeting or any adjournment thereof.

Victhom Human Bionics Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012

Victhom Human Bionics Inc. reported earnings results for the third quarter and nine months ended September 30, 2012. For the quarter ended on September 30, 2012, the company recorded revenues of $19,303 compared with $19,673 for the same period in 2011, representing a decrease of $370 or 0.02%. For the three-month period ended on September 30, 2012, the consolidated net loss amounted to $180,318 compared with a net loss of $2,650,089 in 2011, representing a decrease in net loss of $2,469,771 or 93.2%. The decrease in net loss is mainly explained by a non-cash loss on redemption of preferred shares and a tax credit adjustment related to Neurostream's operations, both registered in 2011 and by a lower non-cash interest on preferred shares and an exchange gain on the liability component of preferred shares, both registered in 2012. For the nine-month period ended on September 30, 2012, the company recorded revenues of $43,956 compared with $70,853 for the same period in 2011, representing a decrease of $26,897 or 37.9%. Those decreases are attributable to lower revenues from royalties on the POWER KNEE. For the nine-month period ended September 30, 2012, the consolidated net loss amounted to $3,347,383 compared with a net income of $9,954,369 for the same period in 2011, representing an increase in net loss of $13,301,752 or 133.6%. The increase in net loss is mainly explained by a non-cash loss on redemption of preferred shares in 2012 compared with the exceptional gain on disposal of interest in the joint venture and a gain on reevaluation of assumptions related to the preferred shares in 2011.

Victhom Human Bionics Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012

Victhom Human Bionics Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter ended on June 30, 2012, the company recorded revenues of $16,125 compared with $36,252 for the same period in 2011, representing a decrease of $20,127 or 55.5%. For the three-month period ended on June 30, 2012, the consolidated net loss amounted to $326,482 compared with a net income of $13,811,133 in 2011, representing an increase in net loss of $14,137,615 or 102.4%. The increase in net loss is mainly explained by the exceptional gain on disposal of interest in the joint venture and a gain on reevaluation of assumptions related to the preferred shares, both registered in 2011. The increase in net loss was partially offset by a lower non-cash interest and lower exchange loss on the liability component of the preferred shares in 2012. For the six-month period ended on June 30, 2012, the company recorded revenues of $24,653 compared with $51,180 for the same period in 2011, representing a decrease of $26,527 or 51.8%. Those decreases are attributable to lower revenues from royalties on the POWER KNEE. For the six-month period ended June 30, 2012, the consolidated net loss amounted to $3,167,065 compared with a net income of $12,604,458 for the same period in 2011, representing an increase in net loss of $15,771,523 or 125.1%. The increase in net loss is mainly explained by a non-cash loss on redemption of preferred shares in 2012 compared with the exceptional gain on disposal of interest in the joint venture and a gain on reevaluation of assumptions related to the preferred shares in 2011. The increase in net loss was partially offset by a lower non-cash interest and lower exchange loss on the liability component of the preferred shares in 2012 and by a loss from discontinued operations related to the decision of the company to cease the proportional consolidation of its interest in Neurostream in 2011.

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