NeuroOne Medical Technologies Corporation Announces Fiscal Third Quarter 2019 Financial Results and Provides a Corporate Update Minnetonka, MN

Medical Technologies Corporation Announces Fiscal Third Quarter 2019 Financial Results and Provides a Corporate Update

MN - August 14, 2019 - NeuroOne Medical Technologies Corporation (OTCQB: NMTC), a

medical device company focused on the development and commercialization of thin film electrode technology for recording brain

activity, stimulation and ablation solutions for patients suffering from Epilepsy, Parkinson's Disease, and back pain, today announced

its financial results for its fiscal third quarter ended June 30, 2019 and provided a corporate update.

are very pleased with the progress we have made this quarter," stated Dave Rosa, president and CEO of NeuroOne. "As

disclosed earlier this year, we submitted a premarket notification 510(k) through a third-party United States Food and Drug Administration

(FDA) accredited reviewer for our cortical electrode technology. Following productive and positive interactions with the FDA,

we withdrew our application based on the FDA's request for additional sterilization data related to the cable assembly that

could not be provided within the time period required by the FDA. Our work on gathering the new data has already begun, and we

plan to submit the supplemental sterilization information in a subsequent 510(k) application as soon as the testing has been successfully

am pleased with the progress NeuroOne continues to make with bringing a revolutionary electrode technology to market that has

the potential to fundamentally alter our understanding of the human brain and our ability to interact with it," stated Kip

Ludwig, Chair of NeuroOne's Artificial Intelligence Advisory Board. "Although our delay with the FDA is disappointing,

it doesn't change the long-term prospects for the technology or the value it can add to treating brain related disorders

Corporate Business Update and Recent Highlights

early 2019, the Company submitted a 510(k) application through an accredited third-party reviewer. After consultation with the

FDA regarding the Company's 510(k) submission for its cortical electrode technology, the Company decided to withdraw the

510(k) application to address a request for additional sterilization data related to the

cable assembly that could not be provided within the time period required by the

FDA, and plans to submit the supplemental information in a subsequent 510(k) application once the Company successfully

obtains the additional data. Rather than submit the 510(k) application through a third-party reviewer, the Company will submit

the subsequent filing directly with the FDA, which the Company believes is the most efficient strategy moving forward.

completed pre-clinical feasibility studies conducted at the Cleveland Clinic demonstrating the ability to both record and ablate

brain tissue in one procedure using the Company's depth electrode technology eliminating the need to perform two separate

two successful cadaver studies at the University of Minnesota demonstrating feasibility of placing the Company's cortical

electrode through a small hole utilizing a specialized placement tool currently in development.

Mr. Steve Mertens as Chief Technical Officer to lead Research and Development, Quality Control and Operations. Mr. Mertens, a

seasoned executive, has held senior roles and successfully led teams in these areas at both early stage companies and established

December 28, 2018 and July 1, 2019, the Company raised gross proceeds of approximately $5.8 million in connection with a private

placement of stock and warrants, with Paulson Investment Company serving as the lead placement agent.

remaining outstanding convertible notes of the Company were converted on February 28, 2019, and the Company repaid all outstanding

unsecured loans during the fiscal third quarter of 2019.

Third Quarter 2019 Results and Financial Highlights

Medical Technologies Corporation is a developmental stage company committed to providing minimally invasive and hi-definition

solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from Epilepsy, Parkinson's

Disease, Essential Tremors and other related neurological disorders that may improve patient outcomes and reduce procedural costs.

press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,

and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical fact, any information

contained in this presentation may be a forward-looking statement that reflects the Company's current views about future

events and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of

activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking

statements. In some cases, you can identify forward-looking statements by the words "may," "might," "will,"

"could," "would," "should," "expect," "intend," "plan,"

"objective," "anticipate," "believe," "estimate," "predict," "project,"

"potential," "target," "seek," "contemplate," "continue" and "ongoing,"

or the negative of these terms, or other comparable terminology intended to identify statements about the future. Forward-looking

statements may include statements regarding the Company's future 510(k) submission and other regulatory submissions, potential

regulatory approval, commercialization of the technology, business strategy, market size, potential growth opportunities, plans

for product applications and product development, the use of electrode technology in artificial intelligence and bioelectronics

applications, capital requirements, clinical development activities, the timing and results of clinical trials, future operations,

future efficiencies, and other financial and operating information. Although the Company believes that we have a reasonable basis

for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently

known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially

different from what we expect due to factors largely outside our control, including our ability to raise additional funds, uncertainties

inherent in the development process of our technology, changes in regulatory requirements or decisions of regulatory authorities,

the size and growth potential of the markets for our technology, our ability to serve those markets, the rate and degree of market

acceptance of our products, clinical trial patient enrollment, the results of clinical trials, future competition, the actions

of third-party clinical research organizations, suppliers and manufacturers, our ability to protect our intellectual property

rights and other risks, uncertainties and assumptions, including those described under the heading "Risk Factors"

in our filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this

press release and the Company undertakes no obligation to revise or update any forward-looking statements for any reason, even

if new information becomes available in the future.

Medical Technologies Corporation

Medical Technologies Corporation

Consolidated Statements of Operations

NeuroOne Medical Technologies Corporation