Ivivi Technologies, Inc. (NASDAQ: IVVI), a leader in non-invasive, electroceutical® therapy systems designed to target and enhance the body’s anti-inflammatory response, recently announced the company’s financial results for the first quarter of the 2009 fiscal year. Shares of Ivivi Technologies, Inc. dropped late last week after the company announced a 17 percent year-over-year decrease in revenue and a net loss of $2.2 million or $0.21 per share.

Due to its current financial position, Ivivi Technologies needs to obtain additional capital through the issuance of its securities, debt financings, licensing arrangements, joint ventures, or other transactions. Senior management also believes that the company could reduce or delay certain variable costs in the short term to help meet its working capital needs. The company estimates that it presently has sufficient funds to meet its cash requirements through March 31, 2009.

In addition to financial results, the company also announced several management changes, including the appointment of Steven M. Gluckstern, currently the chairman of Ivivi Technologies, to the positions of president and chief executive officer. Mr. Gluckstern assumes the position of CEO from Andre’ A. DiMino and David Saloff, who were previously Co-CEOs of the company. Mr Edward J. Hammel, who had been serving as chief operating officer, will assume the position of senior vice president and chief administrative officer. Also, in addition the Board of Directors appointed Mr. Alan Gallantar as the chief financial officer and Sean Hagberg as the company’s chief scientific officer.

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