BioMedical Technology Solutions Holdings, Inc. announced this morning that the Company’s President and CEO, Donald Cox, has surrendered 500,000 warrants. The returning of the warrants for no consideration was done to further protect the number of issued shares when fully diluted.
The Company operates through its wholly-owned subsidiary, BioMedical Technology Solutions (“BMTS”), and maintains a solid share structure with less than 32 million shares issued and outstanding. The surrendering of the warrants by Mr. Cox reduces the fully diluted share structure by 1.4% to only 36.1 million. The majority of shares are controlled and held by insiders; leaving approximately 10 million shares in the float as freely tradable shares.
In the press release from this morning, Mr. Cox stated, “In a constant effort to increase shareholder value, I felt that it was important to surrender the warrants to show my personal commitment to BMTS and its shareholders.” He continued, “We are continually moving forward with our business plans through regular meetings with government agencies and major corporations. Our Demolizer® II System is receiving a great deal of interest in the industry as we continue our marketing efforts. We are confident that our shareholders will be rewarded for their patience and loyalty in the near future and the surrendering of the warrants is another way for me to show my dedication to them.”
In recent announcements, BioMedical released information on a collaborative effort between BMTS and International Medical Waste Services, Inc. (“IMWS”) to market the Company’s Demolizer® II System, the world’s only green solution to biomedical waste disposal, internationally while also targeting domestic rentals of the System. Spearheading this initiative for IMWS is former BMTS Director and General Counsel, Gex F. Richardson, who recently stepped down from his positions at BMTS to devote his full attentions to this effort.
Given the Company’s tight share structure, the concern about shareholder value exhibited by Mr. Cox and low market cap of around $6 million, shares of BMTL could very well soon be hitting the radar of investors and traders alike. Recent press releases have detailed purchase orders from large corporations and it could only be a matter of time before BioMedical Technology lands a large deal that sends the price per share on a climb straight north.
More information on BioMedical Technology Solutions Holding, Inc., its Demolizer II System and the investment opportunity presented can be found on the Company’s website at www.bmtscorp.com.