- Therma Bright Inc. secures initial purchase order for 200 Venowave units from a key distributor.
- Potential for significant follow-on orders post successful market launch.
- Announces share issuance to settle debts, indicating financial maneuvering.
Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) has announced the acquisition of a new customer with an initial purchase order of 200 units of its Venowave VW5 product. The order was placed by a key distributor within the Durable Medical Equipment sector, with expectations for substantial follow-on orders contingent upon a successful market introduction over the next two months.
Venowave is a device eligible for Medicare and Medicaid reimbursement and is designed to enhance vascular and lymphatic flow in the lower limbs. The FDA-designated Durable Medical Equipment operates on a rechargeable 1.5V NiMH AA battery and supports multi-patient use.
In financial developments, Therma Bright has issued 2,000,000 common shares at $0.05 per share to settle a debt of $100,000. Additionally, the company proposes to settle another debt of $24,000 through the issuance of 676,000 common shares at $0.0355 per share. Both transactions are subject to acceptance by the TSX Venture Exchange.
This strategic move is part of Therma Bright's commitment to navigating the global trade environment and ensuring consistent delivery of its products. Further information regarding the development of this new business relationship and future order volumes will be shared when available.
