Exhibit 99.1
Corgenix Medical Corporation
Annual Shareholder Meeting
January 18, 2008
PowerPoint Presentation
Slide 1 — Title Slide
Annual Meeting of the Shareholders
January 18, 2011
Slide 2 — Agenda
· Review of Corporate Goals
· Review of Fiscal Year 2010
· Financials
· Key Events, Achievements and Disappointments
· Fiscal Year 2011 Goals
· Review of Fiscal Year 2011 Year-to-Date Results
· Financials
· Key Events, Achievements and Disappointments
· Plan for 2012-2014
Slide 3 — Corporate Goals
· Financial Strength
· Consistent Growth in Revenues and Profitability
· Broaden Product Base
· Improve Shareholder Liquidity
· Enhanced Product Quality and Regulatory Compliance
· New Customers and Strategic Partners
Slide 4 — FY 2009, 2010 and FY 2011 YTD Summary Statements of Operations
| | FY 2011 | | | | FY 2010 | | FY 2009 | |
| | 3-mo | | 3-mo | | | | | |
| | ended | | ended | | FY ended | | FY ended | |
| | 9/30/10 | | 9/30/09 | | 6/30/10 | | 6/30/09 | |
| | (Unaudited) | | (Unaudited) | | (Audited) | | (Audited) | |
Sales | | $ | 1,978 | | $ | 2,045 | | $ | 8,258 | | $ | 8,064 | |
Gross Profit | | $ | 1,105 | | $ | 1,116 | | $ | 4,644 | | $ | 4,482 | |
Operating Expenses | | $ | 1,345 | | $ | 1,032 | | $ | 4,316 | | $ | 4,831 | |
Operating Income (Loss) | | $ | (240 | ) | $ | 84 | | $ | 328 | | $ | (349 | ) |
Net Income (Loss) | | $ | (348 | ) | $ | (7 | ) | $ | 2 | | $ | (1,571 | ) |
Slide 5 - FY 2009, 2010 and FY 2011 Summary Balance Sheets
| | At September
30,
2010 | | At June 30,
2010 | | At June 30,
2009 | |
| | (Unaudited) | | (Audited) | | (Audited) | |
Cash | | $ | 1,389 | | $ | 494 | | $ | 785 | |
Working Capital | | $ | 2,996 | | $ | 2,146 | | $ | 2,013 | |
Long Term Debt | | $ | 457 | | $ | 485 | | $ | 744 | |
Stockholder’s Equity | | $ | 4,040 | | $ | 3,157 | | $ | 3,113 | |
Slide 6 — FY 2010 — Key Events of the Year
· October 2009
· Secured new credit facility of $1.75 million
· AMA established new reimbursement code (CPT) for Aspirin Works
· December 2009
· Supply agreement established with BG Medicine for their Galectin-3 ELISA product
· February 2010
· Corgenix and Tulane announce award of 3rd Lassa fever grant totaling $15.2 million — further enhances IVD program but also moves us into vaccines and therapeutics
· March 2010
· Announcement of launch of line of antiphospholipid products for automated systems
· June 2010
· Announced new European AtherOx patents bringing the total number of AtherOx patents issued to sis (6)
· Announced new US patent for AspirinWorks — patent on monoclonal antibody significantly strengthens company proprietary position
Slide 7 — FY 2010 Accomplishments
· Reached level of net profitability
· Demonstrated top line growth despite the lingering difficult market conditions
· Improvement in Cost of Goods Sold %
· 10.7% reduction in operating expenses
· Operating income increased $650,000
· Interest expense decreased almost $1 million
· EBITDA doubled to $816,000
· Strengthened our patent position
· Major advancement in several important strategic programs
· Expanded international distribution network
· Prepared for ELITech alliance
Slide 8 — FY 2010 Disappointments
· Inability to break out of low $8 million revenue range
· AspirinWorks business growing but slower than original expectations
Slide 9 — FY 2011 Goals
· Generate more significant revenue growth
· Maintain improvement in operating income, EBITDA, and overall financial strength
· Continue building foundation of market for AspirinWorks and generate meaningful revenue
· Advance science of AtherOx and prepare for next FDA 510(k) filing
· Continue progress of viral program and launch first products
· Enhance contract manufacturing business with new strategic alliances
Slide 10 — FY 2011 YTD Key Events of the Year
· July 2010
· Announced the new affiliation with the ELITech Group
· January 2011
· US reimbursement rate of AspirinWorks increased by 28%
Slide 11 - FY 2011 YTD Accomplishments
· Completion and implementation of agreements with ELITech with minimal hiccups
· New investment capital (1st and 2nd tranches) closed
· Transfer of international distribution responsibilities
· Initiated development of new products
· Investigating long term collaboration opportunities
· Wind-down of Corgenix UK office
· AspirinWorks growth is beginning to ramp up
· Achieved increase in US reimbursement of AspirinWorks which will add additional energy to growth
· Q-1 demonstrated net profit (excluding UK exit costs)
Slide 12 — FY 2011 YTD Disappointments
· Restructuring consuming meaningful amount of management time and focus
· Slight dip in revenues in Q-1
Slide 13 — Plan for FY 2012-2014
· Return to double digit revenue growth via accelerated growth rate from new products and new distribution
· Expand contract manufacturing business with new strategic partners
· Achieve positive and continuously improving operating income and EBITDA
· Enhance shareholder value
· Build on strategic partnerships
· Maintain superior quality system to ensure full regulatory compliance
· Expand delivery technology capabilities
