Why Companies Have to File Reports
EMF Disturbance Monitors, Inc. is a Delaware S corporation. As an S corporation, we have officers, a Board of Directors and stockholders. Every employee and investor has a stake in the success of our company. Employees want to be proud of their company’s performance. Officers and the Board of Directors want to make decisions about the future of the company that will make it financially successful. And investors want to get dividends on the money they gave the company to fund operations. One way to satisfy all their needs is to file reports.
We are currently in a Series A fund raising round to obtain $ 2 million USD. The purpose of those funds is to complete the clinical trials necessary to obtain FDA approval and to begin manufacturing devices for sale. As investors consider whether to help fund EMF, we provide them with reports about how we have used Founder Funding. As of today, 100% of our Founder Funding has gone to Research and Development (R&D) and maintaining our Intellectual Property (IP) protection. Investors should be impressed that we have been very frugal with our capital to help accelerate EMF Disturbance Monitors, Inc. toward commercial success.
As our engineers complete the prototypes for the first electromagnetic field (EMF) generator and the first, wearable, 3-dimensional sensor array vest, we are moving away from the design phase to the clinical phase. Our first clinical trial, an animal safety trial, is set to begin in the next 2 months at the University of North Carolina at Chapel Hill, my alma mater. Based on the Series A funding pledged to date, we should quickly move to a human volunteer trial later in 2024.
Our investors will receive quarterly and annual reports on our budgets and expenses as we move forward. I am proud to share both the progress of the company and the lean financial approach that EMF has taken in 2023. 2024 will be the largest budget in the company’s history. You can follow our progress either on our web site or on Linkedin.
