Digital Therapeutics Market to Exceed $32 Billion by 2024 Offering Mixed Fortunes for Drug Companies
Five years ago, I was an eager investor writing one of the first checks to capitalize a new company named Ehave. Now, I am introducing myself to you as the Chief Executive Officer of the Company. My name is Ben Kaplan and I consider myself a value-added investor. In Wall Street terms, I am considered a Strategic Block Investor. This means I am not only an investor, but I utilize the resources I have to unlock value from public companies through the implementation of financial, operational and governance initiatives. Over the last 20+ years I have been very successful managing my own money. Prior to that, I was Vice President of a New York investment banking firm, where I advised other investors how to protect their capital. My investors and I have invested hundreds of thousands of dollars into Ehave, which is why I have taken it upon myself to accept the position and responsibility as the Chief Executive Officer. In this role, my number one priority will be to make Ehave a financial success for myself and all of our shareholders.
Ehave has been in the right industry, at the right time, and even though it had a great business plan and employed some very talented people, it did not necessarily equate to success. Management executing a business plan is one, of the most critical components for success. Over the last few years, next generation digital therapeutics technology for diagnosis and treatment of ADHD and ASD (autism spectrum disorder) has been a profitable investment space, unfortunately, management issues have prevented Ehave from living up to its full potential.
My goal is to change the metrics and create significant value for our shareholders. In recent months Ehave sold off the non-core assets in order to take the company in a new direction. The core assets we plan to keep and work on will be our ADHD products and the like. We plan to continue the development of these products with the Hospital for sick children in Toronto (SickKids). Our goal is to improve the lives of children and adults as we expand and monetize our business plan.
Besides the aforementioned products, I am involved in bringing new medical breakthroughs and technologies to Ehave to generate revenues and secure market share in these new burgeoning industries. For Ehave to be a successful company we must develop the existing remaining assets within our company to profitability and secure new opportunities which offer growth and profitability. I will utilize all resources to make sure this happens and bring my vision for Ehave to fruition. The type of growth and opportunities that I am discussing cannot be done without new capital and I am currently in the process of securing additional funding to be able to implement my growth plans for our company.
Over the past six months we have streamlined the business model to better reflect the digital platform. We reduced our balance sheet by converting over $2 million in secured debt into common shares, strengthening our ability to raise new capital needed to execute on the plan going forward.
I would like to urge all of our shareholders to keep abreast of the updates we will be releasing about new plans and developments.
I want to thank you for this opportunity and assure you that I take my new role as CEO very seriously and will do my very best to have our company Ehave grow and prosper for all of us.
If there is anything you wish to bring to my attention, please do not hesitate to drop me an email.
Phone: (954) 233-3511
Below is some of the market information I am paying close attention to:
- Digital treatments market to grow over 1,000% in the next 5 years
- Cognitive Rehabilitation (Mega Team) and Its Effects on Emotional and Behavioral Regulation in ADHD, ASD, and CHD
Children with disorders that impact neurodevelopment often have difficulties with executive functions and regulating emotions. Cognitive-based video game training has been shown to improve outcomes, however, this training has been expensive, has required professional supervision, and has been investigated only within a narrow group of children. The Mega Team study will test the effects of a highly engaging, take-home video game-based intervention designed to improve executive functioning in children with various brain-based developmental disorders.
Ehave, Inc. (OTCQB: EHVVF) is empowering the medical cannabis and mental healthcare community with a next generation of data-rich tools designed to improve patient management, diagnosis and treatment. With Ehave Connect, Ehave’s mental health informatics platform, clinicians can make objective, data-driven decisions while keeping patients informed and engaged throughout their mental healthcare journey. Ehave Connect offers a powerful set of core features that integrate with a growing selection of tools and applications developed by Ehave and its leading partners, including Multi-Health Systems (“MHS”), a leading publisher of psychological assessments. Ehave is initially focused on improving the standard of care in attention deficit hyperactivity disorder (“ADHD”), through its collaboration with the Hospital for Sick Children (“SickKids”).
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements: (i) the parties to the Asset Purchase Agreement being unable to obtain the necessary director, shareholder and regulatory approvals in a timely manner or at all; (ii) changes in tax laws, general economic and business conditions; and (iii) the failure of any closing conditions to the Asset Purchase Agreement to be satisfied. All forward-looking statements included in this press release are made only as of the date of this press release. The Company assumes no obligation to update any written or oral forward-looking statement unless required by law. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is contained under the heading “Risk Factors” in Ehave, Inc.’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (SEC) on September 24, 2015, as amended, which is available on the SEC’s website, http://www.sec.gov.