December 20, 2014 8:47 AM ET

Healthcare Equipment and Supplies

Company Overview of Wound Management Technologies, Inc.

Company Overview

Wound Management Technologies, Inc. develops, markets, and distributes collagen-based wound care products to physicians, clinics, and hospitals in the United States. The company offers CellerateRX, a medical device for use on acute and chronic wounds in gel and powder form. It also holds patents for a resorbable bone wax and delivery system for orthopedic bone void fillers. The company was formerly known as MB Software Corporation and changed its name to Wound Management Technologies, Inc. in May 2008. Wound Management Technologies, Inc. was founded in 1982 and is based in Addison, Texas.

16633 Dallas Parkway

Suite 250

Addison, TX 75001

United States

Founded in 1982

9 Employees

Phone:

972-218-0935

Key Executives for Wound Management Technologies, Inc.

Chairman of The Board and Chief Executive Officer
Age: 64
Total Annual Compensation: $125.0K
President
Age: 55
Total Annual Compensation: $32.5K
President of Wound Care Innovations LLC
Age: 61
Total Annual Compensation: $120.0K
Compensation as of Fiscal Year 2013.

Wound Management Technologies, Inc. Key Developments

Wound Management Technologies, Inc. Announces Financial Results for the Third Quarter and Nine Months Ended September 30, 2014

Wound Management Technologies, Inc. announced financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company generated revenues for the three months ended September 30, 2014, of $679,122, as compared to revenues of $472,753 for the three months ended September 30, 2013, or 44% increase in revenues. Net loss for the three months ended September 30, 2014 of $671,007, as compared to a net loss of $1,687,496 for the three months ended September 30, 2013. The Company was able to reduce net loss in 2014 by increasing sales and significantly reducing interest and debt related expenses. For the nine months, the company generated revenues for the nine months ended September 30, 2014, of $1,905,766, as compared to revenues of $1,263,170 for the nine months ended September 30, 2013, or a 51% increase in revenues. Net loss for the nine months ended September 30, 2014 of $1,992,894, as compared to a net loss of $2,662,187 for the nine months ended September 30, 2013. The company was able to reduce net loss in 2014 by increasing sales and significantly reducing interest and debt related expenses.

Wound Management Technologies Appoints Ronald Goode and Jeffrey Lewis to the Board of Directors

Wound Management Technologies, Inc. announced that the Company appointed Ronald Goode and Jeffrey Lewis to the Board of Directors. Ronald Goode, Ph.D., has an extensive background in healthcare and brings a wealth of knowledge from a management and clinical perspective. Dr. Goode has served as President and CEO of Unimed Pharmaceuticals and eXegenics and held key management positions at Pfizer Pharmaceuticals and G.D. Searle & Co. He is currently the President and CEO of the Goode Group. Jeffrey Lewis currently serves as President of the Institute for Healthcare Innovation. Mr. Lewis spent many years working in Congress and is the former President of the Heinz Family Philanthropies. He was an instrumental player in building healthcare solutions for both public and private employers.

Wound Management Technologies, Inc. Approves Amendment to its Articles of Incorporation

Wound Management Technologies, Inc. approved the amendment to the company's Articles of Incorporation to increase the authorized shares of common stock of the Company from 100,000,000 to 250,000,000 and authorized the filing, within the next twelve months of an additional amendment to the company's Articles of Incorporation effecting a 1-for-10 reverse split of the company's common stock in the annual meeting of stockholders held on September 3, 2014.

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