Shares of Brain Scientific Inc. (OTCMKTS:BRSF) were among the biggest gainers with a jump of over 55%,
On Monday , BRSF stock surged 55.56% to $0.42 with 23.65k shares, compared to its average volume of 13.70 shares. The stock has moved within a range of $0.3050 – 0.4200 after opening trade at $0.3050.
Brain Scientific Releases Letter to Shareholders with Important Updates
Medical technology company, Brain Scientific Inc. (OTCMKTS:BRSF) has released a letter to shareholders on January 31, 2022, on behalf of Chairman and Chief Executive Officer Hassan Kotob. It highlights the merger of Brain Scientific and Piezo Motion that was completed on October 1, 2021. It also touched on their near term objectives, neurology products, precision motion products, etc.
Hassan Kotob retains his position as chairman and CEO of the combined entity. The merger accomplished the creation of a medtech company with two game-changing product lines – neurology devices and precision motion products. The company is all set to venture into the ultra-efficient, compact precision motors market that will help drive the next generation of medical devices. Two 510(k) FDA-cleared EEG products are ready to be launched.
Their flagship neurology products are:
NeuroCap – a medically reimbursable, disposable EEG headset to eliminate time-consuming tasks for healthcare providers and increase access to neurology care.
NeuroEEG – an EEG amplifier that wirelessly connects to a computer, allowing freedom of movement for the patient and enabling telemedicine applications for neurologists.
Their precision motion products include motors that are fast, accurate, tiny, and powerful. They are up to 1,000 times more precise and 100 times faster to respond than DC competitors. With the creation of a simpler motor, the company is expanding its target market to compete directly with precision DC technology.
BRSF stock is trading above the 20-Day and 50-Day Moving averages of $0.32 and $0.28 respectively. However, the stock is trading below the 200-Day moving average of $0.45.