SEATTLE–(BUSINESS WIRE)–Know Labs, an emerging developer of non-invasive medical diagnostic technology, today addressed recent claims by a purported research firm known for fueling and participating in short-selling, which has distributed false and incomplete information about the company in an apparent effort to profit by driving down the company’s stock price.
“Our team at Know Labs remains highly confident in the ability of our Bio-RFID™ platform technology to detect and measure glucose and other analytes in the body non-invasively, at extremely high levels of accuracy,” said Ron Erickson, Know Labs founder and chairman. “We continue to test and refine our technology while working toward the FDA clearance process for medical-grade diagnostic devices.”
Know Labs will report its fourth quarter and fiscal year 2022 results during an audio webcast today, Dec. 20, 2022. This follows a recent presentation to institutional investors at the Bernstein CGM Disruptors Conference last month.
“Attempts to manipulate the capital markets by self-interested actors seeking short-term profits by spreading lies disguised as equities research are reprehensible,” Erickson continued. “White Diamond Research is notorious for its smear campaigns. Their required legal disclosure makes its intentions clear: ‘You should assume that as of the publication date of our reports and research, White Diamond (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors and/or their clients and/or investors has a short position in all stocks (and/or options, swaps, and other derivatives related to the stock) and bonds covered herein, and therefore stands to realize significant gains in the event that the price of either declines.’ That tells you all you need to know.”
“The purported research report about Know Labs got most things wrong but did get one thing right,” Erickson added. “Detecting and measuring blood glucose non-invasively has never been done, and we remain confident Know Labs will offer the first devices to do it, improving the lives of millions of people with diabetes and pre-diabetes around the world.”
About Know Labs, Inc.
Know Labs, Inc. is a public company whose shares trade on the NYSE American Exchange under the stock symbol “KNW.” The Company’s technology uses spectroscopy to direct electromagnetic energy through a substance or material to capture a unique molecular signature. The Company refers to its technology as Bio-RFID™. The Bio-RFID technology can be integrated into a variety of wearable, mobile or bench-top form factors. This patented and patent-pending technology makes it possible to effectively identify and monitor analytes that could only previously be performed by invasive and/or expensive and time-consuming lab-based tests. The first application of our Bio-RFID technology will be in a product marketed as a non-invasive glucose monitor. It will provide the user with real-time information on blood glucose levels. This product will require U.S. Food and Drug Administration clearance prior to its introduction to the market.