SleepX completes the Beta stage of its wearable data-driven wristband ‘DreamIT’ to treat snoring
The company started tests and calibration of DreamIT and intends to
apply for the Helsinki Committee’s approval to test the solution’s
application. SleepX is also advancing its discussions with serial
manufacturers and global distributors
Boca Raton, Florida, March 14, 2022 – SleepX, a subsidiary of AppYea (OTC: APYPD) focusing on the development of accurate wearable monitoring solutions to treat sleep apnea and snoring, is pleased to provide updates on current activities:
1. Solution development. The company has completed the Beta stage in the development of its patented DreamIT wearable data-driven wristband solution. The company successfully tested the functionality of the solution’s monitoring application and its connectivity with the wristband.
2. Serial production and distribution. The management has begun examining leading manufacturers in Israel, some of which focus on the production of hi-end electronic components and products for IMI Systems (previously Israel Military Industries). The company is also conducting talks with several global distributors.
3. Trials and FDA. SleepX intends to apply shortly to receive the Helsinki Committee’s approval to test the solution’s application for sleep apnea monitoring, to be conducted at a hospital sleep lab. The trial is to serve as the first step towards applying for an FDA approval under the first-of-its-kind medical device category for contactless detection of sleep apnea to be performed through the AI analysis of breathing during sleep.
4. The company shall release soon its annual audited consolidated financials ended 12.31.2021. “We are excited about the advancements we are making with our DreamIT solution’s development and commercialization according to our business plan and go-to-market strategy”, said Boris (Bary) Molchadsky, President and CEO of SleepX, and Chairman at AppYea. “This unique solution caters to the sleep and detection of sleep apnea and will enable us to collaborate with medical institutions and insurance companies, as well as to sell licenses to HMOs saving their sleep labs hospitalization costs. We believe that our solution will raise the public’s awareness of snoring and sleep apnea, while allowing home testing to be performed easily and efficiently.” SleepX is an Israeli research and development company recently acquired by AppYea. The company had developed a unique product
for monitoring and treating sleep apnea and snoring. The technology is protected by several international patents and the company plans to start serial production in 2022. The company currently focuses its activities on the development and commercialization of its flagship product DreamIT.
Safe Harbor and Forward-Looking Statements This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. Although APYP believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The reader is cautioned not to put undue reliance on
these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to our ability to raise capital needed to develop amd market our products, our ability to maange the business post acquisition, economic conditions, intense competition, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, unanticipated losses, financial condition and stock price, inability to carry out research, development and commercialization plans and other specific risks. APYP does not undertake any obligation to publicly update any forward-looking statement. Neither APYP nor SLEEPX are subject to the reporting requirements of the Securities and Exchange Commission.
Boca Raton, Florida, March 14, 2022 – SleepX, a subsidiary of AppYea (OTC: APYPD) focusing on the development of accurate wearable monitoring solutions to treat sleep apnea and snoring, is pleased to provide updates on current activities:
1. Solution development. The company has completed the Beta stage in the development of its patented DreamIT wearable data-driven wristband solution. The company successfully tested the functionality of the solution’s monitoring application and its connectivity with the wristband.
2. Serial production and distribution. The management has begun examining leading manufacturers in Israel, some of which focus on the production of hi-end electronic components and products for IMI Systems (previously Israel Military Industries). The company is also conducting talks with several global distributors.
3. Trials and FDA. SleepX intends to apply shortly to receive the Helsinki Committee’s approval to test the solution’s application for sleep apnea monitoring, to be conducted at a hospital sleep lab. The trial is to serve as the first step towards applying for an FDA approval under the first-of-its-kind medical device category for contactless detection of sleep apnea to be performed through the AI analysis of breathing during sleep.
4. The company shall release soon its annual audited consolidated financials ended 12.31.2021. “We are excited about the advancements we are making with our DreamIT solution’s development and commercialization according to our business plan and go-to-market strategy”, said Boris (Bary) Molchadsky, President and CEO of SleepX, and Chairman at AppYea. “This unique solution caters to the sleep and detection of sleep apnea and will enable us to collaborate with medical institutions and insurance companies, as well as to sell licenses to HMOs saving their sleep labs hospitalization costs. We believe that our solution will raise the public’s awareness of snoring and sleep apnea, while allowing home testing to be performed easily and efficiently.” SleepX is an Israeli research and development company recently acquired by AppYea. The company had developed a unique product
for monitoring and treating sleep apnea and snoring. The technology is protected by several international patents and the company plans to start serial production in 2022. The company currently focuses its activities on the development and commercialization of its flagship product DreamIT.
Safe Harbor and Forward-Looking Statements This release includes forward-looking statements. Such statements involve risks and uncertainties which could cause actual results to differ materially from those set forth herein. No statement herein should be considered an offer or a solicitation of an offer for the purchase or sale of any securities. Although APYP believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements in this report are reasonable, we cannot assure stockholders and potential investors that these plans, intentions or expectations will be achieved. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The reader is cautioned not to put undue reliance on
these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to our ability to raise capital needed to develop amd market our products, our ability to maange the business post acquisition, economic conditions, intense competition, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, unexpected costs and operating deficits, increases in general and administrative costs, unanticipated losses, financial condition and stock price, inability to carry out research, development and commercialization plans and other specific risks. APYP does not undertake any obligation to publicly update any forward-looking statement. Neither APYP nor SLEEPX are subject to the reporting requirements of the Securities and Exchange Commission.
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