Huge Market Potential For Event Cardio Group (ECGI)

ECGITwo years ago last week, the world became fully aware (if they weren’t already) of the severe risks of breast cancer when Hollywood starlet, Angelina Jolie, underwent a preventive double mastectomy.  Breast cancer, the number one killer cancer among women, has seen awareness grow exponentially since First Lady, Betty Ford, underwent a mastectomy in 1974 in her fight with the disease.  While billions are spent every year to “treat” those already affected, Event Cardio Group Inc. (ECGI) could finally get to market the one product women everywhere need at an affordable price compared to the costs of the traditional mammogram.

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ECGI Stock Quote
Close 0.1005 Change (% Chg) -0.0045 (-4.29%)
High 0.105 Low 0.0951
Open 0.1005 Prev Close 0.1005
Volume 57,100 Avg Volume 38,330
14-Day Rel Strength 51.31% Market Cap $9.29M
52Wk High 0.19 52Wk Low 0.02

In June, 2014, John Bentivoglio, CEO of Event Cardio Group, took control (97% of the cumulative voting power) of Sunrise Holdings Limited and, soon after, entered into a $501,000 agreement with Life Medical Technologies Inc.  for the exclusive rights to distribute BreastCare DTS in the U.S. and certain other territories.  The world first got a look at what BreastCare DTS was all about from an interview with Carol Fitzgerald, CEO of Life Medical at the time, hosted on Dell’s YouTube channel.  Seeing how this device “could be” a more medical version of the self-examination, attempting to detect breast cancer with the device for slightly less than the price of a standard Victoria Secret bra seems like a no-brainer.

Doing some research on the BreastCare DTS device, Aetna (NYSE: AET) notes the device to be “experimental and investigational” despite its FDA clearance to be used adjunct to mammography for detecting breast diseases, including breast cancer.  Being that it, in the U.S. at least, needs to be used along with the industry’s “standard” detection system, it seems that its benefit would be of no use.  Then again, breast cancer is not bound to the U.S. which means that, with the right distributors, developing countries who lack the medical infrastructure could be a massive target market if the product were to become manufactured and ready for shipment.

While the product, BreastCare DTS, a non-disposable product, could serve its purpose for multiple exams, the money is due to be in the sale of the two round, soft, disposable pads that are placed under the bra for 15 minutes, allowing the 1,188 heat-sensitive chemical sensors that change color to non-invasively check for abnormalities.

What market could BreastCare DTS serve?

It goes without saying that early detection is a key to surviving an almost unavoidable disease for women worldwide.  The ability to have access to the product for at-home testing would be an incredible advancement in breast cancer awareness if and when the product is available.

No woman wants to go in for a mammogram just as no man wants to go in for a prostate exam.  What if a tumor was to appear weeks after a mammogram?  The next one isn’t “supposed to be” conducted for another year whereas, with the BreastCare DTS, a product owner could examine themselves at home just as often as they conduct their self-examination.

Although it appears to be cleared only for use by licensed physicians in the U.S., countries like Indonesia, India, and China immediately come to mind, along with a host of others, who trump the U.S. population and would benefit greatly from an affordable detection method.  When Carol Fitzgerald mentioned “under $40” in her interview, immediately the possible revenue numbers became significant enough that further research was required.

Breast cancer, according to the American Cancer Society, states that an invasive form of the disease are found in about 1 out of 8 women under the age of 45 and that women are 100 times more likely to develop the disease than men.  It was reported that around 40,000 women in the U.S. died last year from breast cancer and almost 3 million women, either undergoing treatment or having completed treatment, had a history with the deadly disease.  Seeing the billions of dollars rack up on treating breast cancer, AstraZeneca (NYSE:AZN) founded “Breast Cancer Awareness Month” and the little pink ribbons became how, once a year, Americans can feel they’re donating to help find a cure (which in fact, they are).

What is Breast Cancer Worth?

Studies have shown that detecting the disease while it is still in its localized stage has a 5-years survival rate of 98% which, if effectively detected early, could slow the rate of someone dying every 14 minutes in the U.S. from it.  While the amount spent on breast cancer in 2010 was cited to be $16.5 billion, that amount is sure to have increased substantially since, yet early detection of the disease is still subject to the two traditional forms, mammography and self-examination, but that could soon change.

In 2012, the FDA approved a device called the somo-v Automated Breast Ultrasound System (ABUS) which targets women with “dense” breast and scans the entire breast in about one minute.  In 2013, Dune medical Devices received pre-market approval for their MarginProbe System which, too late for early detection, is used after cancerous materials have been removed to ensure none exists in the nearby regions.  Circadia Health Inc. has recently raised $2.9 million privately and offering another $10 million of Series A Preferred shares to develop their “iTBra” which is worn inside the bra and works in a very similar facet as the BreastCare DTS.

So What’s ECGI Worth?

In what appeared to be a fund raising effort, the Company issued 700,000 shares of ECGI to an accredited investor for $100,000 (0.1482/share) on November 9, 2014.  On January 15, the Company issued 2,827,548 shares, valued at $376,064.05, to satisfy the balance of their $501,000 obligation to Life Medical Technologies.  With 79,500,000 shares belonging to the former ECG’s stockholders, John Bentivoglio and parties, the public float of roughly 10,000,000 has barely seen the light of day since the name change.

Although shares are currently 0.0382 below where the “accredited investor” acquired ECGI at, the assumed 48.2% upside is not as appealing as seeing who is running the Company that has the exclusive rights to distribute BreastCare DTS.  A manufacturing deal and/or distribution deal to go along with it would be a clear case for buying shares for a short-term trade.

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About ECGI Stock

Event Cardio Group, Inc. is an emerging growth company developing medical diagnostic detection equipment that focuses on the detection, and preventive treatment, of high-risk diseases.

Click here to view the SEC filings for ECGI.
Click here to view the website for Event Cardio Group.

Authorized: 190,000,000
Issued and Outstanding: 88,497,702
John Bentivoglio, Nick Bozza and Frank Sgro: 79,500,000

Last 5 Trading Sessions:

Date Open High Low Last Change % Chg Volume
02/23/15 0.1050 0.1050 0.0951 0.1005 -0.0045 -4.29% 57,100
02/19/15 0.1100 0.1100 0.1050 0.1050 -0.0150 -12.50% 55,700
02/18/15 0.0950 0.1200 0.0950 0.1200 +0.0270 +29.03% 51,300
02/17/15 0.1000 0.1000 0.0930 0.0930 +0.0010 +1.09% 91,200
02/13/15 0.1000 0.1000 0.0920 0.0920 -0.0030 -3.16% 107,200

 

Bottom Line:

Essentially, its self-examinations, mammograms and the ABUS (for those with dense breasts) for now.  As the concept of “early detection/early awareness” surrounds the possibilities of BreastCare DTS becoming a real, available product in the near future, such is the case for ECGI possibly seeing a great deal of appreciation in the same time period.   In researching what ECGI is all about, it appears that BreastCare DTS will simply be the funding product the Company will use so it can pursue FDA 501(k) clearance for their wireless and leadless advance cardiac monitor, “Now Cardio,” which could be another game changer for the medical device industry.

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