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Premier Biomedical, Inc. CEO Letter, July, 2016 Updates and Progress on Partnership Initiatives for Specialty Diseases and Anti-Cancer Drugs Research
Premier Biomedical, Inc. CEO Letter, July, 2016 Updates and Progress on Partnership Initiatives for Specialty Diseases and Anti-Cancer Drugs Research.
About this update from Premier Biomedical Inc
[{"type":"text","content":"\n \n \n Premier Biomedical, Inc. CEO Letter, July, 2016 Updates and Progress on Partnership Initiatives for Specialty Diseases and Anti-Cancer Drugs Research\n \n \nPremier Biomedical, Inc. CEO Letter, July, 2016 Updates and Progress on Partnership Initiatives for Specialty Diseases and Anti-Cancer Drugs Research\n \n EL PASO, TX--(Marketwired - Jul 18, 2016) - Premier Biomedical, Inc. (OTCQB: BIEI)\n Greetings from the CEO and Staff at Premier Biomedical, Inc.\n I would like to take this opportunity to update you, our shareholders, on developments at Premier Biomedical, Inc. through the second quarter of 2016:\n COMPANY BALANCE SHEET & SHARE STRUCTURE.\n In 2015, unfortunately we had as many as five different lenders at any one time providing financing to the company and selling our stock. This resulted in excessive selling pressure in the market and dropping our stock to the sub-penny level. Through management-driven financial restructuring, we have eliminated the five competing lenders and consolidated into a single capital source.\n In the second quarter, we worked with our primary funding source to establish long term financing on improved terms.\n We recognize that there has been a considerable amount of selling pressure recently, but have been working to moderate that pressure.\n We understand that we can't continue to borrow money on a long term basis to fund ongoing research and development. In order to eliminate the resultant selling pressure associated with loans, we must develop a source of revenue or arrange a partnering relationship with a larger, well established pharmaceutical entity.\n PARTNERSHIP STRATEGY/STATUS\n We have been working on development of partnerships with a company in Brazil and a group in Asia for nearly a year. This process has taken much more time and energy than initially anticipated, and still is yet to result in an acceptable agreement.\n We have modified our approach toward seeking relationships with multinational pharmaceutical firms as opposed to regional entities. Toward that end, we have established world-wide agents to represent our interests and have initiated contact with a number of potential partners.\n We have received emails and telephone calls from large pharmaceutical companies as a result of our press releases. As the development of our tech...