Simavita Limited
ASX : SVA
TSX VENTURE : SV

Simavita Limited

January 30, 2015 11:37 ET

ASX Appendix 4C for the Quarter Ended December 31, 2014

SYDNEY, AUSTRALIA--(Marketwired - Jan. 30, 2015) - Simavita Limited (ASX:SVA)(TSX VENTURE:SV) ("Simavita" or the "Company") is pleased to release its ASX Appendix 4C for the quarter ended December 31, 2014.

Cash receipts from customers for the quarter were $130,326, taking the total for the first six months of the 2015 financial year to $220,549. However, as the Appendix 4C is a cash flow report, this figure does not include revenue from US distributor Medline's first major order which was recorded as a debtor as at December 31, 2014.

As reported on January 6, 2015, the Company's preliminary (unaudited) sales revenue for the first half of the 2015 financial year was $458,082. This figure, which represents a record result for the Company, compares favourably to the total sales revenue for the entire 2014 financial year of $349,895. When compared to the total sales revenue for the corresponding half year in 2014 of $151,283, the current period results represent an increase of more than 200%.

Simavita's consolidated cash and cash equivalents decreased during the half-year ended December 31, 2014 by $1,917,070 such that the cash balance as at that date was $4,927,127. The Company anticipates that it will receive a payment under the Australian Government's Research and Development Tax Incentive Scheme in the order of $1.2 million in the near future.

For further information, see our website (www.simavita.com) or contact the persons outlined below.

About Simavita

Simavita is a medical device company operating in the digital healthcare sector that has developed an innovative, world first solution for the management of urinary incontinence, with a focus on the elderly. The first product is the SIM™ platform technology which is an instrumented incontinence assessment application that provides evidence based incontinence management care plans to the residential aged care market.

About SIM

SIM™ is a wireless sensor technology that delivers evidence-based instrument incontinence data on individuals. SIM™ provides user friendly tools and software to assess the incontinence condition and to help plan better outcomes. SIM™ is used to detect, record and report incontinence events during a compulsory or recommended assessment period in residential aged care facilities to develop an evidence-based incontinence care plan.

Conducting assessments is mandatory in many countries and the incontinence assessment creates an influential element of care of each individual. For more information on Simavita or SIM™, please visit www.simavita.com.

The TSX Venture Exchange has in no way passed upon the merits of the transactions set out herein and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange not its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.

Except for historical information, this announcement may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, the anticipated date of on the ASX, changing market conditions, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.

Forward-Looking Information

This document may contain "forward-looking information" within the meaning of Canadian securities laws ("forward-looking information"). This forward-looking information is given as of the date of this document.

Forward-looking information relates to future events or future performance and reflects Simavita management's expectations or beliefs regarding future events. Assumptions upon which such forward-looking information is based include that Simavita will be able to successfully execute on its business plans. Many of these assumptions are based on factors and events that are not within the control of Simavita and there is no assurance they will prove to be correct.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "potential", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or information that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By its very nature forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Simavita to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to actual results of current business activities; changes in business plans and strategy as plans continue to be refined; other risks of the medical devices and technology industry; delays in obtaining governmental approvals or financing or in the completion of development activities; as well as those factors detailed from time to time in Simavita's interim and annual financial statements and management's discussion and analysis of those statements. Although Simavita has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Simavita provides no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

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