Exhibit 99.1
Corgenix Medical Corporation
Annual Shareholder Meeting
December 16, 2008
PowerPoint Presentation
Slide 1 — Title Slide
Annual Meeting of the Shareholders
December 16, 2008
Slide 2 — Agenda
· Business Update
· Review of Corporate Goals
· Revenue Strategies
· Review of Fiscal Year 2008 and Fiscal Year 2009 Year-to-Date Results
· Financials
· Key Events, Achievements and Disappointments
· Fiscal Year 2009 Plan
· Plan for 2010-2012
Slide 3 — Corporate Goals
· Financial Strength
· Consistent Growth in Revenues and Profitability
· Continued Improvement in Shareholder Liquidity
· Product Quality
Slide 4 - Revenue Strategies
· Base business Products
· Anti-phospholipids
· Vascular Diseases
· Hyaluronic Acid
· Autoimmune
· Growth Opportunity Products
· AspirinWorks
· AtherOx
· Viruses
· Contract development and manufacturing
Slide 5 — Strategic Alliances
(logos of strategic alliance companies)
Slide 6 - FY 2008 and FY 2008 YTD Statement of Operations
|
| FY 2009 |
| FY 2008 |
| FY 2008 |
| FY 2007 |
| ||||
|
| 3-mo |
| 3-mo |
| FY ended |
| FY ended |
| ||||
|
| unaudited |
| unaudited |
| audited |
| audited |
| ||||
Sales |
| $ | 2,002 |
| $ | 2,105 |
| $ | 8,366 |
| $ | 7,368 |
|
Gross Profit |
| $ | 1,107 |
| $ | 1,141 |
| $ | 4,337 |
| $ | 4,539 |
|
Op Inc (Loss) |
| $ | (94 | ) | $ | 2 |
| $ | (602 | ) | $ | (858 | ) |
Net Loss |
| $ | (341 | ) | $ | (688 | ) | $ | (2,112 | ) | $ | (2,441 | ) |
Slide 7 - FY 2008 and FY 2009 YTD Balance Sheet Highlights
|
| At September |
| At June 30, |
| At June 30, |
| |||
|
| (unaudited) |
| (audited) |
| (audited) |
| |||
Cash |
| $ | 1,023 |
| $ | 1,520 |
| $ | 1,324 |
|
Working Capital |
| $ | 2,513 |
| $ | 2,889 |
| $ | 2,070 |
|
Stockholder’s Equity |
| $ | 3,886 |
| $ | 4,153 |
| $ | 2,993 |
|
Slide 8 — FY 2008 — Key Events of the Year
· July 2007
· Reported new clinical data correlating AtherOx technology with vascular disease — papers presented at ISTH (Geneva) showed significant correlation
· Announced new published data on AspirinWorks — ISTH publications reported AspirinWorks is effective in measuring key metabolite and support for need to assess aspirin effectiveness on platelets
· Submitted 510(k) filing for IgG anti-AtherOx
· August 2007
· AspirinWorks available nationwide including LabCorp, second largest lab system in US
· AspirinWorks available directly to consumer through HealthCheck USA
· October 2007
· Announced initial results in development of tests for viral infections and bioterrorism threats
· Corgenix named to Deloitee & Touche Colorado Technology Fast 50 for 5th consecutive year
Slide 9 — FY 2008 Key Events of the Year
· November 2007
· Released new clinical data on AtherOx — clinical data from Japan showed AtherOx may identify patients at high risk of acute coronary syndrome
· December 2007
· Signed CRADA with NIH to study NASH patients with our HA product
· January 2008
· British Medical Journal publishes review of 20 studies and concludes more than 25% of all patients are “aspirin resistant” and at 4X risk of heart attack, stroke and blood clots
· AspirinWorks distribution expanded globally including Quest, the largest lab in the US
· February 2008
· First European patent issued for AspirinWorks
Slide 10 — FY 2008 Key Events of the Year
· March 2008
· Announced agreement with Japanese government providing Corgenix worldwide rights to technology for cardiovascular inflammation
· April 2008
· Signed collaboration agreement with Randox Laboratories to develop automated version of AspirinWorks
· Receive FDA clearance for IgG anti-AtherOx test kit
· June 2008
· Expanded Scientific Advisory Board
Slide 11 — FY 2008 Accomplishments
· Revenue for the year was another Company record — grew 13.5% to $8.37 million
· Excluding contract manufacturing business, revenues increased 17.0% over prior year
· Operating expenses decreased 8.5% from prior year
· Both operating loss and net loss improved over prior year
· Received one FDA clearance and two patents
· Major advancement in several important strategic programs
· Expanded US and international distribution network
Slide 12 — FY 2008 Disappointments
· Revenue level still not sufficient to achieve profitability
· Reduction in sales to one contract manufacturing customer impacted revenues in second half of year and first half of FY 2009
· AspirinWorks business growing but slower than original expectations
· Saw increased COGS due to hiccups in manufacturing
Slide 13 — FY 2009 Goals
· Continue revenue growth
· Improvement in operating income, EBITDA and overall financial strength
· Keep operating expenses under control
· Build foundation of market for AspirinWorks and generate meaningful revenue
· Advance science of AtherOx
· Complete first phase of viral program and launch first products
· Enhance contract manufacturing business
Slide 14 — FY 2009 YTD Key Events of the Year
· July 2008
· Announcement of expansion of Hemorrhagic Fever Virus program
· Established AspirinWorks collaboration with SpectraCell Laboratories, a major clinical testing lab focusing in cardiovascular testing
· August 2008
· Established collaboration with BG Medicine to study role of AtherOx technology products in cardiac risk assessment
· September 2008
· Third US patent issued for AtherOx technology
· October 2008
· CHARISMA study published — prospective study confirms elevated levels of 11dhTxB2 indicate increased risk of heart attack, stroke and cardiac death
Slide 15 - FY 2009 YTD Accomplishments
· Financials
· Heading for another record sales year
· Expenses under control
· Thus far, no repeat of COGS hiccups seen in prior year
· AspirinWorks ELISA
· Made significant progress in building market infrastructure
· Consistently adding new customers
· Publication of CHARISMA study in October showing positive effect on build of market
· Initiated program for automated version of test
Slide 16 — FY 2009 YTD Disappointments
· Q-1 revenues down 4.9% from same period prior year primarily due to reduction in contract manufacturing business
· Ramp up of AspirinWorks revenue still lagging behind original projections
· The medical products industry as a whole is being impacted by the difficult economy
Slide 17 — Plan for FY 2010 and FY 2011
· Continue double digit revenue growth; accelerate growth rate with contribution from new products
· Accelerate new product clearances from the FDA
· Expand contract manufacturing business
· Retire last of convertible debt from 2005 financings
· Achieve positive and continuously improving operating income and EBITDA
· Enhanced shareholder value
· Build on strategic partnerships
· Maintain superior quality system to ensure full regulatory compliance
· Expand delivery technology capabilities
