EDT.TO/ Spectral medical

[Bozzie]

I took a very small position 2 weeks ago at .52.

Nice hopefully news this week on the badly needed pump for C19 treatments.

 

[Bozzie]

Seems like it was foolish of me to try to grab a lower cost base from $0.74 (purchased in Jan). I still feel like the entire market is due for another big pullback and that was influencing my decision here.
That said, nervous to get caught with my pants down nickle and diming this long-term play as if it's a day trade.
Probbaly prudent to get back in, even if the broader economy forces a slide here.

It's a hard play..IR and PR don't really move this...Only the FDA can move this in a big way.
Anytime this has had traction its pulled back significantly.
One problem are the rules on news releases for pink sheets here in the US ..the last news was hardly disseminated this side of the boarder.
It is a play you need to sit with unfortunately.. it will pop one day IMO it's just when?
I'd look for volume large blocks on the US side.. it's been a harbinger to movement, I hate to play anything this way but with this it's worked at times.

 

[Bruins4Life]

I'm thinking if it hits $1 I may sell 50% of my position and just free roll. Currently up 40% so a long way to go yet.

 

[Bozzie]

I'm thinking if it hits $1 I may sell 50% of my position and just free roll. Currently up 40% so a long way to go yet.

Nice Bruins!
I've said that a few times and didn't pull the trigger...greed/hope have bit me hard a few times here to be honest.
I sold 20 k last week @ 80 Canadian and fully expected bigger pull back that didn't happen so far.

 

[Steiner69eR]

Good stuff, Bozzie. Thanks for the contributions.

 

[Bozzie]

Good stuff, Bozzie. Thanks for the contributions.

I was going to send you this as a PM Steiner.
I feel a bit weird about putting such a strong view out there and this may be the last time I hit this thread for a bit.
Do you own DD.. I have and have been watching segment of the market and these( BAX/CTSO/EDT) companies for many many years.

It's been a long trip for me with these guys, the company has evolved into something I didn't totally expect... anyway..




Hey Steiner

I'm buying back what I sold plus a bit more over the next few days.
I have a feeling things are about to come to some sort of conclusion or at least a good deal about what is going with the pump will be unvailed soon. These guys now have 3 valuable assets, Baxter is already partnered on the cartridge Baxter... needs a CRRT machine and HD pump in a bad way right now. To put it simply the only product in Baxters portfolio of pumps is a peritoneal pump, you need to have a surgically implanted stint for use so....
Baxter is near a year high.. a HUGE HUGE part of their biz is renal care. I'm betting the pressure to provide the market where need is about to explode is getting their attention at the top of the company.


Who knows maybe they are eyeing another pump either way there is no doubt Baxter is in need of a pump, I like the relationship they have with Spectral... hopefully Spectral is exploiting the communication lines already open.




Just saying things are lining up beautifully right now...

 

[Bozzie]

This is the first Public "IR" I've ever seen from this company
I Know these guys need to get off the Canadian and Pinks..
They will need to do a reverse split witch is a coin toss on success.

Spectral Medical Provides Corporate Update​ [*=left]The Company remains well positioned with financial strength [*=left]COVID-19 patients using PMX in the U.S. showing positive signs in recovery [*=left]SAMI used successfully for CRRT in COVID-19 patients TORONTO, April 28, 2020 -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a late stage theranostic company advancing therapeutic options for sepsis and septic shock, released an update today on the impact of COVID-19 on the Company’s business, the measures it has put in place, accordingly, and its long-term strategy. PMX COVID-19 and Tigris Trial Update Prior to March 11, 2020, when the World Health Organization declared the novel coronavirus, which has the potential to cause severe respiratory illness (“COVID-19”), a global pandemic, the Tigris trial had nine clinical sites screening and open to enrollment of patients, with the remaining one site finalizing administrative procedures prior to its activation. The State emergency declarations combined with the subsequent decision by the U.S. and Canadian governments to close the border had an impact on Spectral’s access to Tigris site ICUs, with all ICUs diverting their resources and focus on either preparing for, or treating COVID-19 positive patients. In February, Spectral aligned its clinical resources and activities to support these trial sites in their efforts with COVID-19, while implementing strategies that would keep their clinical EAA and PMX skills active. There is a very strong scientific case for the use of PMX in COVID-19 patients. Endotoxin is the primary driver of the cytokine storm and there is reliable evidence that removing endotoxin by the PMX cartridge, reduces circulating levels of cytokines. Increased levels of endotoxin activity as measured by Spectral’s FDA approved Endotoxin Activity Assay (EAA) have been identified in COVID-19 patients in the U.S., Italy and Asia. PMX has been used to treat patients outside the U.S. during other analogous viral pandemics including the avian flu (H5N1) and the swine flu pandemic (H1N1) which also resulted in acute respiratory distress. In previous publications, the use of PMX in septic shock patients has resulted in decreased dependency on ventilators, which is a serious issue during this COVID-19 pandemic. The publications data showed improvement in chest x-ray results, improved lung function and successful wean from ventilator. The Company has taken an active role in contributing to the combat of the COVID-19 pandemic, including the following specific activities: Since March, Spectral has fielded unsolicited inbound inquiries from hospitals in North America concerning our PMX therapy for the COVID-19 pandemic as it relates to septic shock; As a result of these inquiries, the Company released its PMX product to two hospitals. One site is an existing Tigris trial site, while the second site is a NY-based hospital; The COVID-19 positive patients were treated, with an average of approximately 2.5 PMX columns administered per treatment. While data collection is not required for the emergency access, elevated EAA levels were detected, and the majority of patients had a rapid and positive response based on lowering oxygen and vasopressor requirements; US FDA approves Investigational Device Exemption for PMX use in patients with COVID-19 [clinicaltrials.gov: NCT04352985] On April 11, 2020, the US FDA approved a supplemental IDE for the use of Spectral’s PMX cartridge in the treatment of patients with COVID-19 as it relates to septic shock; The Company collaborated with the FDA, and with its support accelerated the approval process; The objective of the IDE supplement is to observe the efficacy of the PMX cartridge with a focus on safety, and allows for an initial 20 sites and 75 patient enrollment, with data collection requirements; Existing Tigris sites have been engaged in the supplemental IDE protocol. Participation of these sites provides for a quicker response to COVID-19 treatments, as clinical teams are already trained in administering PMX treatments. The Company is fielding unsolicited inbound inquiries from U.S. hospitals on their desire to participate in the supplemental IDE protocol, and is actively on-boarding select non-Tigris sites. Health Canada Issues an Interim Order for use of PMX We are reaching out to the sites involved in the Euphrates trial, and hospitals covered by our exclusive distribution partner Baxter; All participating sites will receive free of charge PMX cartridges and assistance with tech support to initiate. International Use of EAA and PMX The Company reached out to all of its EAA distributors and requested each to provide data with respect to EAA activity levels in COVID-19 patients being treated with PMX; Based on feedback from hospitals and EAA distributors received to-date, increased levels of endotoxin activity as measured by Spectral’s FDA approved Endotoxin Activity Assay (EAA) has been identified in COVID-19 patients in the U.S., Italy and Asia region; Preliminary data from Italy suggests high incidence of endotoxin activity (EAA in the 0.6-0.9 range) in COVID-19 patients with septic shock is greater than 50%; as of today we are aware of approximately 20 COVID-19 septic shock patients that have been treated with PMX, globally. “The Company continues to focus on finalizing the Tigris trial within the shortest timelines,” said Debra Foster, VP of Clinical Development at Spectral. “While the COVID-19 pandemic has created some unanticipated hurdles to the Tigris trial, it has also created some very positive opportunities for both the PMX product and the Tigris trial. We are observing a heightened awareness amongst ICU investigators, and clinicians of PMX, and through our recent COVID-19 FDA and Health Canada approvals, we are seeing broader utilization of PMX than we would typically see under a normalized, non-COVID-19 environment. With this increased utilization, we are now likely better positioned to benefit from supportive data collection on PMX use.” The Company is encouraged by early results of its Tigris trial and the mortality outcome data to-date. However, the Company cautions that the existing randomized patient sample size is limited, and there is no guarantee of a positive FDA approval outcome. Tigris trial recruitment activity slowed at the beginning of March 2020, with patient enrolment mostly impacted at the three sites which had finalized training and had been activated in late 2019. The other six sites that are now open for enrolment had finalized their clinical training in late January and early February, and it typically takes three months post-clinical training for sites to enroll their first patient. Accordingly, these six sites were not projected to reach their normalized enrolment rate until May 2020. However, should the COVID-19 pandemic in the U.S. prolong limited ICU access at the Tigris sites, there could be significant risk that last patient enrolment could be delayed. Spectral has developed mitigation strategies to reduce or eliminate any timing delays, including: COVID-19 supplemental IDE protocol keeps current Tigris site clinician skills current for EAA and PMX; Spectral’s clinical team keeps weekly communication with sites and their CRAs. It has been noted by site investigators that there may be a staggered re-opening of ICUs across the U.S., as many regions and states are experiencing staggered peak COVID-19 infections and recoveries; Potentially increase the number of sites in the Tigris trial. Spectral is evaluating potential sites for its FDA supplemental IDE, which could subsequently be added to the Tigris trial; Should the data collected under the supplemental IDE protocol be robust, Spectral would propose to use the data to be supportive of the PMA for the PMX cartridge; The Company has developed comprehensive on-line training and site support which can be utilized until the Canada – U.S. border re-opens. Dialco Update Dialco, a wholly-owned subsidiary of Spectral, recently passed its one-year anniversary and many milestones have been accomplished in this short amount of time. Dialco continues its commercial activities with SAMI, Dialco’s proprietary Continuous Renal Replacement Therapy (“CRRT”) instrument. SAMI continues successful clinical evaluation in key hemodialysis centres, and building its commercial sales pipeline. With respect to DIMI, a renal replacement instrument focused on the home dialysis market, Dialco continues on its path seeking FDA regulatory approval. “Dialco has not experienced any negative impacts due to the COVID-19 pandemic,” said Gualtiero Guadagni, President of Dialco. “Based on our interaction with the FDA, it appears the regulatory approval timelines, with respect to DIMI are status quo. In our SAMI business, we are seeing increased commercial activity in part due to the COVID-19 pandemic. As hospitals are expecting a significant shortage of CRRT machines in COVID-19 impacted ICUs, we have experienced increased activity around SAMI, including the use of SAMI in the treatment of COVID-19 positive patients.” Recent Dialco Highlights: SAMI instrument was successfully used to treat a young patient with COVID-19 under an Emergency access request for the PMX cartridge; Recently deployed SAMI devices utilized at a prominent U.S. university in the treatment of COVID-19 positive patients with renal failure. The U.S. university decided to move forward with the implementation of SAMI to address the increase in AKI patients in view of a shortage of CRRT machines due to COVID-19; Successful remote installation, set-up and high-level training on-line of SAMI. While COVID-19 has negatively impacted the ability of our field resources to access ICUs, Dialco was able to successfully ship and set-up five SAMI machines without major issues; Presently, Dialco is corresponding with the FDA, concerning DIMI‘s 510k application which includes the needs for further biocompatibility and electromagnetic capability analysis which are being conducted by certified labs. While a competitive device was recently approved for home hemodialysis use by the FDA, the Company believes this event continues to validate Dialco’s decision to enter the dialysis market. Additionally, to the Company’s knowledge DIMI remains the only machine capable of both PD and HD for home use. Corporate Activities Update Exploration of a senior U.S. listing: The Company has been studying the potential benefits of a secondary listing on a senior U.S. exchange. Based on the stage of development of the Company, management’s observations regarding the market for peers of the Corporation whose securities are listed on a stock exchange in the U.S., the Company believes that there are potential benefits of a U.S. listing, including a potential increase in long-term shareholder value creation through broader exposure of sell-side and buy-side investment industry players. The Company will determine if and when to apply for a listing on a U.S. exchange, and when it is considered in the best interests of Spectral. Financial Update: The Company has ample liquidity to weather the COVID-19 pandemic, and execute on its 2020 business plan goals. The Company continues to operate at full staffing levels, and does not anticipate any changes to current staffing levels. Additionally, the Company has not, nor does it intend to avail itself of any COVID-19 government subsidies. Spectral Outlook “I am proud of Spectral’s contribution to combat COVID-19. Our entire product portfolio has been utilized during this pandemic, and we will continue to deploy our products until the COVID-19 pandemic ends. We are very pleased with the progress made on both the development of our renal support products and the use of the PMX cartridge in the IDE studies. In addition, we have realized early commercial success with SAMI and have completed a comprehensive distribution agreement for PMX/EAA. I feel we are well positioned to make significant corporate progress in 2020,” said Dr. Paul Walker, President and CEO of Spectral. “While COVID-19 has altered some of Spectral’s short-term priorities, our long-term strategy remains unchanged. Regardless of short term data points, our focus has not changed on obtaining the required approvals and commercialization of our products. The significant clinical unmet need that our products address, and the size of those patient populations have not changed. The value of our greatest assets remain unchanged.” About Spectral Spectral is a Phase III company seeking U.S. FDA approval for its unique product for the treatment of patients with septic shock, Toraymyxin™ (“PMX”). PMX is a therapeutic hemoperfusion device that removes endotoxin, which can cause sepsis, from the bloodstream and is guided by the Company’s Endotoxin Activity Assay (EAA™), the only FDA cleared diagnostic for the risk of developing sepsis. PMX has been approved for therapeutic use in Japan and Europe, and has been used safely and effectively on more than 200,000 patients to date. In March 2009, Spectral obtained the exclusive development and commercial rights in the U.S. for PMX, and in November 2010, signed an exclusive distribution agreement for this product in Canada. Approximately 330,000 patients are diagnosed with severe sepsis and septic shock in North America each year. Spectral, through its wholly owned subsidiary, Dialco Medical Inc. (“Dialco”), is also commercializing a new proprietary platform, “SAMI”, targeting the renal replacement therapy (“RRT”) market. Dialco is also seeking regulatory approval for “DIMI” which is based on the same RRT platform, but will be intended for home hemodialysis use. Spectral is listed on the Toronto Stock Exchange under the symbol EDT. For more information please visit [url]www.spectraldx.com.[/URL] Forward-looking statement Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of the future outlook of Spectral and anticipated events or results, are assumptions based on beliefs of Spectral's senior management as well as information currently available to it. While these assumptions were considered reasonable by Spectral at the time of preparation, they may prove to be incorrect. Readers are cautioned that actual results are subject to a number of risks and uncertainties, including the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, the ability of Spectral to take advantage of business opportunities in the biomedical industry, the granting of necessary approvals by regulatory authorities as well as general economic, market and business conditions, and could differ materially from what is currently expected. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement. For further information, please contact: Dr. Paul Walker President and CEO Spectral Medical Inc. 416-626-3233 ext. 2100 pwalker@spectraldx.com Mr. Chris Seto CFO Spectral Medical Inc. 416-626-3233 ext. 2004 cseto@spectraldx.com Ali Mahdavi Capital Markets &Investor Relations 416-962-3300 am@spinnakercmi.com [TR] [TD="class: mcnFollowIconContent, width: 24, align: center"] Copyright © 2020 Spectral Medical Inc., All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: Spectral Medical Inc.135 The West Mall, Unit 2 Toronto, On M9C 1C2Canada Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.

[/TD]
[/TR]

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[Bozzie]

I have no idea who these guys are but here it is....

https://www.cantechletter.com/2020/04/spectral-medical-has-487-upside-says-paradigm-capital/

 

[Bruins4Life]

I am averaged in at .62
Lets hope he is at least half right lol.

 

[Bozzie]

I am averaged in at .62
Lets hope he is at least half right lol.

There is new IR on the Spectral site...
This parts of an emails I sent to a friend who's in deep as well.


Link to IR....
https://spectraldx.com/wp-content/uploads/2020/04/spectral-medical-investor-april-2020.pdf


Slide 17 still says early second quarter for home dialysis approval. Which is weird because April means early, May means mid, and June means late. So hopefully it's any day now. They might of just been to lazy to change the slide though.


The number on slide 20 has always been up in the presentations but it really does highlight how big a deal this Home approval will be for our potential. 700 million is the yearly revenue market for machines and disposables only. If Spectral and Sami and Dimi can just capture 10% of that market that's $70 million in revenue a year! If our machine is as good as they lead us to believe, and if our machine is cheaper than everyone's, then there is no reason we can't have a market penetration of 10% next year. Maybe I'm being too optimistic. C'mon F...ing FDA give us that home approval already!

 

[Bozzie]

A lot of new info in the past few days...
Here is a new update from Paradigm capital Canada



Spectral put out a wide-ranging corporate update yesterday. Overall, they highlighted:

• That they are working to prevent COVID-19 related delays to their Phase 3b trial of PMX in septic shock.
• Increased interest in using PMX in Canada and the U.S. after they received special authorizations to treat COVID-19 patients.
• Strong interest in their SAMI dialysis machine in ICUs, demonstrated by a U.S. hospital obtaining five machines due to concerns over increased need because of COVID-19 patients.
• No changes to the regulatory timeline for DIMI, which should obtain FDA approval in the coming months.
• They are exploring a secondary listing on a U.S. exchange.

PMX for Septic Shock
While COVID-19 may push out their final Phase 3b trial by a few months, septic shock remains a vital challenge for intensive care units across North America. They remain the only company undergoing advanced clinical trials for treating septic shock and have shown previous clinical success in patients targeted with their EAA diagnostic.

The U.S. IDE that is allowing them to use PMX in COVID-19 patients will provide increased visibility for the product to doctors and hospitals, potentially accelerating their rollout once they obtain full FDA approval.

Baxter, their distribution partner, recently highlighted they opportunity they see in PMX in their Q4 results presentation. This is a strong endorsement from a leading critical care company with deep expertise in developing and commercializing new medical devices.

A New Day for Dialysis
COVID-19 is highlighting the need for hospitals to have dialysis equipment dedicated to the ICU. SAMI fills this need with a system that has drastically lower training time than the competitors (2 hours vs. 1 week), has a lower space footprint, and has more disposable elements that are easier to use in an ICU setting. While the main long-term opportunity remains in home dialysis and their DIMI system, continued interest in SAMI because of COVID-19 helps validate the underlying technology used by both machines and could accelerate the planned SAMI rollout.

Both policy changes and COVID-19 are shaking up home dialysis. President Trump’s 2019 executive order has tasked policymakers to create a new reimbursement scheme to increase home dialysis and COVID-19 has made patients hesitant to go to dialysis clinics. Fresenius Medical, a leading manager of U.S. dialysis care, has seen home dialysis treatments grow 9x the rate of in-center dialysis over the past year.

A new generation of home dialysis machines are being developed to meet this need, and DIMI has an opportunity to play a role. The FDA recently approved a new home dialysis machine from Outset Medical while Spectral’s DIMI is still under FDA review. However, DIMI remains the only home dialysis machine that can perform both types of dialysis, peritoneal dialysis and hemodialysis, giving it an advantage over other next-generation home dialysis machines.

Summary
For 2020, we are forecasting revenues of $9.3M, which includes the $6.6M they have already received from Baxter and includes sales of SAMI and a legacy biochemicals business, and an EBITDA loss of $0.2M. They have about $8M in cash, which will see them through to the end of the year.


Scott McAuley, PhD
Analyst, Healthcare and Biotechnology

 

[Bozzie]

I was reading the poroxy circular for Spectral's upcoming meeting this AM...
Looks like they are considering a 10 for 1 or 20 for 1 reverse split.
These either work out well or they don't... never can tell but the uplist is being considered and do I think it's needed.



"At the Meeting, Shareholders will be asked to consider, and if deemed advisable, approve, a special resolution (the “Share Consolidation Resolution”) authorizing an amendment to the Corporation’s articles to consolidate the issued and outstanding Shares (the “Consolidation”), based on a consolidation ratio in the range of 1 post-Consolidation Share for 10 pre-Consolidation Shares to 1 post-Consolidation Share for 20 pre-Consolidation Shares, as determined by the Board in their sole discretion."

 

[brucefan]

took a starter @.44 looking to add on strength chart has lots of potential

 

[Bozzie]

took a starter @.44 looking to add on strength chart has lots of potential

Nice Bruce.
They are up-listing w/ a reverse spilt it looks like, also the doctors who've been running the company have stepped aside.
Chris Seto( the new COO). He's a mercenary when it come to deal making, if there's deal to be made he'll stick around. He's been a heavy hitter in heading mergers and accusations at both UBS and CIBC two of the biggest banks in Canada.Then left oddly enough to go to Growforce (weed company) made a deal there within 9 months of his arrival to have growforce acquired by Mjarden... the weed market collapsed and he left pockets stuffed. So..to put it bluntly if he's stays a deal is in play IMO..He leaves I'd worry
The pump, if approved.. in time should attract someone to take them out, Seto will be waiting.

Seto's Linked in.
https://ca.linkedin.com/in/chris-se...issionId=ad9fca35-b2b3-1616-4214-33c7877dc974

 

[Bozzie]

Shelf filed last week for 50 million.
Shelfs are often used after a company event. or proposed with an event in mind.

 

[Bruins4Life]

Sold my shared yesterday. Good luck going forward. Me selling usually sends stock soaring.

 

[Bozzie]

Sold my shared yesterday. Good luck going forward. Me selling usually sends stock soaring.[/QUOTE

I get it.. tying money up here isn't fun..I'm in too deep to escape without big big volume.
I still believe they have the goods.

Good luck buddy

 

[Bozzie]

Emailing this AM...


A shit ton of regulatory filings today. Going thru them now. This one caught my eye. They appointed Jun Hayakawa, our Board member from Toray, to be a "process agent" for the shelf offering. Odd that they picked a Japanese citizen for this role. I wonder if they aren't trying to work a creative finance deal with a Japanese company or bank. I'd love to see a non-dillutive creative deal such as a line of credit or convertible bond deal. I don't what it is but Seto's got something going on

APPENDIX C TO NATIONAL INSTRUMENT 41-101 GENERAL PROSPECTUS REQUIREMENTS
NON-ISSUER FORM OF SUBMISSION TO JURISDICTION AND APPOINTMENT OF AGENT FOR SERVICE OF PROCESS
1. Name of issuer (the "Issuer"):
Spectral Medical Inc.
2. Jurisdiction of incorporation, or equivalent, of Issuer:
Ontario ________________________________________________________________________
3. Address of principal place of business of Issuer:
135 The West Mall, Unit 2, Toronto, Ontario, M9C 1C2 ________________________________________________________________________ 4. Description of securities (the "Securities"):
Common Shares, Debt Securities, Subscription Receipts, Warrants,
Units ________________________________________________________________________
5. Date of the prospectus (the "Prospectus") under which the Securities are offered:
July 3, 2020 ________________________________________________________________________
6. Name of person filing this form (the "Filing Person"):
Jun Hayakawa ________________________________________________________________________
7. Filing Person’s relationship to Issuer:
Director ________________________________________________________________________
8. Jurisdiction of incorporation, or equivalent, of Filing Person, if applicable, or jurisdiction of residence of Filing Person:
Suginami, Tokyo, Japan ________________________________________________________________________ 9. Address of principal place of business of Filing Person:
Chuo, Tokyo, Japan ________________________________________________________________________
10. Name of agent for service of process (the "Agent"):
Spectral Medical Inc. ________________________________________________________________________
11. Address for service of process of Agent in Canada: 135 The West Mall, Unit 2, Toronto, Ontario, M9C 1C2

12. The Filing Person designates and appoints the Agent at the address of the Agent stated above as its agent upon whom may be served any notice, pleading, subpoena, summons or other process in any action, investigation or administrative, criminal, quasi-criminal, penal or other proceeding (the "Proceeding") arising out of, relating to or concerning the distribution of the Securities made or purported to be made under the Prospectus, and irrevocably waives any right to raise as a defence in any such Proceeding any alleged lack of jurisdiction to bring the Proceeding.
13. The Filing Person irrevocably and unconditionally submits to the non-exclusive jurisdiction of:

1. (a) the judicial, quasi-judicial and administrative tribunals of each of the provinces and territories of Canada in which the Securities are distributed under the Prospectus; and
2. (b) any administrative proceeding in any such province or territory, in any Proceeding arising out of or related to or concerning the distribution of the Securities made or purported to be made under the Prospectus.

14. Until six years after completion of the distribution of the Securities made under the Prospectus, the Filing Person shall file a new submission to jurisdiction and appointment of agent for service of process in this form at least 30 days before termination of this submission to jurisdiction and appointment of agent for service of process.
15. Until six years after completion of the distribution of the Securities under the Prospectus, the Filing Person shall file an amended submission to jurisdiction and appointment of agent for service of process at least 30 days before a change in the name or address of the Agent.
16. This submission to jurisdiction and appointment of agent for service of process shall be governed by and construed in accordance with the laws of British Columbia.
[signature pages follow]



Dated and signed: July 3, 2020


By: (signed) “Jun Hayakawa” Name: Jun Hayakawa
Title: Director

AGENT
The undersigned accept the appointment as agent for service of process of Jun Hayakawa under the terms and conditions of the appointment of agent for service of process stated above.


Dated: July 3, 2020


Spectral Medical Inc.
(signed) “Chris Seto”
Name: Chris Seto
Title: Chief Operating Officer and
Chief Financial Officer

 

[Bozzie]

Chairman of the Board Anthony Bihl, another non Canadian Citizen has also been appointed as an agent for service of process. I think Bihl is a US citizen. So a Japanese guy and a USA guy are the two that can sign off on a deal/uplisting is what I'm gathering. Somethings in the works.

 

[Bozzie]

More

This explains why we need a USA citizen/address as a process agent (Bihl), but I'm really curious as to why we need a Japanese citizen/address, to serve as Spectrals "agent" in Japan? Seto's up to some financing wizardry and this dual process agent appointments is one of the final steps before he executes whatever plan he has up his sleeve. I gotta believe it's creative and minimizes dilution but that's just my gut telling me that him and the rest don't want any more dilution than us regular shareholders. Of course I could be wrong. My guess is that Seto wants to raise 30-50 million via minimally dilutive debt/bonds. Then with that war chest in hand, he will either uplist to Nasdaq, and/or spin of Dialco and simultaneously uplist them both or just one. Anyhoo, that's all I got. Have a fun weekend and drinks lot's of beers!



"As defined in Section 230.100 of the Securities Act, the name, U.S.-based address and phone number of an ‘agent for service’ (a.k.a process agent) are required on the cover page of the following SEC registration statements:"


https://www.cogencyglobal.com/blog/...in-registration-statements-filed-with-the-sec