CONCORD, NC - (NewMediaWire) - January 16, 2024 - Hydromer, Inc. (OTC: HYDI)

Hydromer, Inc. (the "Company") is pleased to provide the following update to shareholders regarding the Company's progress toward stability and profitable growth. Much has been done since the spring of 2023 in reducing the Company's overhead and operating costs, which management believes will lead to improved profitability in the current fiscal year. Additionally, investment in new product innovations and Sales & Marketing activities are anticipated to fuel pipeline development and revenue growth in this and future fiscal years.

Major Elements of the Initiatives

Revised Fiscal Year: Revised fiscal year from June 30 to December 31 with intent to publish audited financial statements for FY23 in 2024.

Reduced Overhead: The Company has successfully reduced its overhead burden by 33% while maintaining a steady state of operation for the business. Further opportunities are being explored.

Expense Reduction: Expense spending is expected to be reduced by 10%.

Sales: The Company is pleased to announce the addition of a seasoned sales executive who will join its team in early February 2024. This individual will be responsible for aggressive and high-level prospecting in both the Medical Device and Industrial Products markets that we serve. Additionally, he will be charged with developing international distributorships in select overseas markets. The Company hit sales of $4.1M for the fiscal year ending December 31, 2023, reflecting an increase of 5% over the prior year.

Marketing: Several direct marketing efforts are underway which are anticipated to bring a strong uptick in lead generation. These include email and LinkedIn marketing, Google AdWords, and SEO for the Company's updated website, www.Hydromer.com

Product Development: The Company is pleased to announce the relaunch of its legendary SeaSlide(TM) hydrophilic watercraft coating. The new and improved Super SeaSlide(TM) is expected to be available to the market in March 2024. The Company plans to attend numerous boat shows during the year to promote this unique product. Additionally, new product additions including UV-cured coatings and more durable thermally cured coatings are planned for later 2024.

Company Restructuring and Culture Improvements

The Company has adopted a strong growth mentality with particular emphasis on closer contact with Key Accounts. Its CEO, Michael Torti, will be visiting with its largest customers on a regular basis, starting this month. Additionally, incentive plans, aligned with new account attainment, have been put in place for all sales personnel. All employees have made an increased commitment to supporting the Company's needs while adhering to its revised time and attendance policies. Indeed, the Company can brag about its highly motivated and committed team members.