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Interview with United Health Products Investor Relations Rep

The following is an interview done on 10/24/19 between United Health Product’s (UEEC) IR rep, Phillipe Niemitz of PAN Consultants, and the head analyst of White Diamond Research (WDR), Adam Gefvert, CFA.

WDR: Hi, is this Pan Consultants? I’m an investor and was wondering about a company called United Health Products? Are you the investor relations for them? (Yes) OK, I have some questions about the marketing application they did for FDA approval. They did an application for Class III approval in 2017, and I don’t see any follow-up.

PAN: Yes, that was the history. That was a fairly rudimentary thing. The company has actually filed more recently for PMA Approval application. That’s in with the FDA, and it will take a little while before we get that through.

WDR: OK, cool. But what happened back in 2017? Did it get rejected? I don’t see any follow-up.

PAN: No, it didn’t get rejected, it got the approval. It’s just that’s a relatively small market, and it’s not a market that the company is keen on addressing by itself. The company’s purpose has been to bring the product to a stage where it can team up, and everything that I’m telling you by the way is public knowledge, can team up with a larger company or even be acquired by a larger company. I refer you to the October 25, 2018 press release which discusses that. The company has been undergoing a strategic review while it continues to move forward in developing its product and suite of products.

In other words, the company isn’t concentrating on sales at all. The company conducted a human clinical trial which got done not too long ago, and the results of that trial basically found that the products of the company not only are non-inferior, which is a technical term, but was actually superior to the standard of care out there right now. The company is applying for approval for use in surgeries, specifically vascular-thoracic abdominal surgeries. Which represents a fairly large market, and that’s where they stand right now.

WDR: OK, now how is this different from what they applied for in 2017?

PAN: You couldn’t do surgeries. That was for external use.

WDR: The Class III? Class III is internal isn’t it?

N: Well, you can check it, you could not do the kind of surgeries we’re talking about now.

WDR: OK, well I’m referring to where it says, because I’m looking at this PR from October 10, 2017, it says “Expanded indication Class II application continues to progress” and it also says “continues to apply for the FDA’s new and innovative CtQ pilot program premarket approval, Class III”

PAN: Yes, the company was selected as one of 9 companies selected for that, that’s correct, that’s accurate. But you’re talking about something that’s two years old already, we’ve moved on since then. We’re going after a much larger market.

WDR: OK, what was the results from what happened 2 years ago?

PAN: Well, it was granted and that was it, but we were advised by certain agencies that we should change our application to a much broader Class III which we applied for recently.

WDR: Was there any PR saying it was granted? Because I don’t see anything.

PAN: I don’t think you’re following me. What I’m trying to tell you is we were advised to switch from pursuing a Class II application to going for a Class III because it’s a much larger market.

WDR: I guess I’m a little confused because it says you were applying for a Class III in 2017.

PAN: This is a totally different market, it’s for surgical uses. It’s rather technical, and you can get bogged down in it, but we didn’t have the right with that one to be used in surgeries. It was for a different indication. It’s very very complicated, the FDA process.

WDR: OK, what’s the difference from that Class III and this Class III?

PAN: I’m not an expert, it’s not important. The important thing is that we’re going after a larger market. We were advised by the FDA to do that, and it would be a good idea, and now we’re doing it, OK?

WDR: OK, alright. And what happened with a lot of these distribution contracts they’ve had over the past years, did any of those pan out?

PAN: Right, they panned out but the concept was just to see if we could form relationships. Who am I speaking with by the way?

WDR: This is Adam Gefvert.

PAN: Oh! OK, well we don’t need to talk if that’s who it is. Your name is well known to me. OK? Take care.

WDR: OK, thank you.