Charleston, SC Economic Development

Medical device developer gets OK to trade stock

May 9, 2008
Charleston Regional Business Journal
Revolutions Medical Corp., a Mount Pleasant-based medical equipment developer, has received regulatory approval to start trading its stock on the over-the-counter bulletin board, the quotation system on which microcap stocks are bought and sold.

The company said the Financial Industry Regulatory Authority, the nation’s largest non-governmental regulator of investment firms, has given the OK for Revolutions Medical Corp. stock to trade on the system. The company applied five months ago for the right to issue and trade stock, said Scott Key, investor relations representative.

Company CEO Ron Wheet said he expects OTC trading to begin this week.

“This is such an important step for our company,” Wheet said. “Doors that were once closed to us for corporate finance, market exposure and market credibility will now swing wide open. Now the financing falls into place.”

Key said once the company begins selling shares, the additional capitalization will make it easier to bring its products to market.

He said Revolutions Medical Corp. will apply soon for regulatory approval from the Food and Drug Administration for three of its products, including the Rev Vac safety syringe, safety blood drawing device and safety IV catheter. The company is preparing to bring other products to market that don’t require regulatory approval.

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