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Life Recovery Systems

Operating

LIFE RECOVERY SYSTEMS HD LLC

Biotech · Alexandria, LA

Post-money valuation ⓘ
$21.5M
As of Nov 2018 · from Reg CF Offering (2018) · pre-money + amount raised, not a traded price
Total raised
$726,589
Crowd $87K · Private $640K · 2 rounds since 2009
Latest share price
$9.57
Reg CF · Class B Common Units · Mar 2018 offering price

Financials

FY2015–FY2018 · from SEC filings · hover any figure for its source
$346K
−$416K
2015
$238K
−$134K
2016
$104K
−$230K
2017
$119K
−$225K
2018
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2015 unaudited*
FY2016 unaudited*
FY2017
FY2018
Income statement
Revenue
$346,316
$237,896
$104,330
$118,541
Cost of goods sold
$191,003
$124,007
$76,515
$41,554
Gross margin
45%
48%
27%
65%
Net income
-$415,814
-$133,512
-$230,344
-$225,480
Taxes paid
$0
$0
$0
$0
Balance sheet
Cash
$1,383
$7,617
$1,783
$11,991
Accounts receivable
$45,500
$23,200
$0
$50,909
Total assets
$271,427
$230,860
$200,157
$261,342
Short-term debt
$250,695
$213,148
$159,391
$156,649
Long-term debt
$2,640,726
$2,771,255
$3,024,616
$3,234,782
Total liabilities
$2,891,421
$2,984,402
$3,184,007
$3,391,431
Other
Headcount
—
4
—
4

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$21.4M
pre-money
Reg CF · Class B Common Units · Mar 2018

Blue bars are the pre-money valuation the company stated for a priced round.

Fundraising history

Raised $86.6K / $107KInvestors 84Post-money $21.5M
Raised $640KInvestors 11

Team

10 people
Robert Freedman, M.D.Founder
Co-Founder, Chairman of the Board & Chief Medical Officer

Is the co-founder, co-inventor, Chairman of the Board of Directors and Chief Medical and Strategy Officer. He is an interventional cardiologist, was a Flight Surgeon trained at the U.S. Air Force School of Aerospace Medicine and trained in Cardiology at The University of Texas Health Science Center in Houston. Over the last three years (2015-2018) Dr. Freedman has served as Chairman of the Board of Managers and Chief Medical Officer of Life Recovery Systems, LLC, working out of its business office in Alexandria, LA. During that time he has also served as Manager of Freedman Memorial Cardiology in Alexandria, LA.

Robert Schock, Ph.D.Founder
Co-Founder, Vice President of R&D

The co-founder, co-inventor and Vice President of Research & Development. He received a Ph.D. in Biomedical Engineering from Rensselaer Polytechnic Institute and has over 20 years of experience leading R&D groups in cardiac assist, critical care and anesthesia. Previously he managed an R&D Group in Critical Care and Anesthesia for Mallinckrodt Pharmaceutical. Over the last three years (2015-2018) Dr. Schock has served as Vice President of Research and Development of Life Recovery Systems, LLC, working out of its Research and Manufacturing facility in Kinnelon, NJ.

Robert J Freedman
CEO, Principal Executive Officer and Manager
Richard Hettenbach
Vice President of Operations

Is the Vice President of Operations. He has over 30 years of experience in Pharmaceutical R&D, Medical Device Quality Assurance, Regulatory and Clinical Affairs. He has held positions at Sandoz Pharmaceuticals, C.R. Bard and Ackrad Laboratories. Over the last three years Mr. Hettenbach has served as Vice President of Operations of Life Recovery Systems, LLC in its Kinnelon, NJ office. Over that same period he has also worked as a Regulatory Affairs consultant in his private consulting company, Medqra, LLC, which is based in Morris Plains, NJ.

Coan Knight
Financial Management

is the Financial Manager. He is a CPA and a retired Principal in Knight Masden, a professional accounting corporation based in Alexandria, LA. He was one of the original founders of the accounting firm and served in management for 34 years before retirement in 2004 He has assisted Life Recovery Systems from 2005 to 2018 as a financial consultant.

Coan I Knight
Controller
David Baker, MD
Member of Board of Managers

Retired after 37 years from private invasive cardiology practice in Lafayette, Louisiana. Former Board Member of two general hospitals and one cardiovascular specialty hospital. Served on the Life Recovery Systems Board of Managers from February 1, 2015 to the present.

Glenda Stock
Member of Board of Managers

President, GRITS Entities, LLC Back Office Support September, 2017 - Present Producer, On Point Talk Television Television Talk Show May, 2014 - Present Served on the Life Recovery Systems Board of Managers From February 1, 2015 to the present.

Nell Shehee
Member of Board Managers

Co-owner and Vice-President of Kilpatrick Life Insurance Companies and Rose-Neath Funeral Homes, Crematorium and Cemeteries and Flower Shop 1976-Present Served on the Life Recovery Systems Board of Managers from February 1, 2015 to the present

Show 1 more person
Stephen Katz, MD
Member of Board of Managers

President, Central Louisiana Anesthesia & Pain Management Ctr. October 1, 1995 to present. Secretary, Central Louisiana Surgical Hospital January 1, 2016 - December 31, 2018 Served on the Life Recovery Systems Board of Managers from February 1, 2015 to the present.

Names and titles as disclosed on StartEngine, SEC Form C. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Not requiredFewer than 300 holders of record

Filed 1 of 9 annual reports (FY2017–FY2025)

84 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

  • Form C-UMay 22, 20190001665160-19-000658
    EDGAR
  • Form C-UMay 8, 20190001665160-19-000628
    EDGAR
  • Form C-ARApr 30, 20190001665160-19-000543
    EDGAR
  • Form C-UNov 6, 20180001665160-18-001192
    EDGAR
  • Form C/AAug 30, 20180001665160-18-000876
    EDGAR
  • Form C/AJun 28, 20180001665160-18-000631
    EDGAR
  • Form C/AMay 4, 20180001665160-18-000416
    EDGAR
  • Form C/AMar 26, 20180001665160-18-000241
    EDGAR
Source: SEC EDGARCIK 0001284608LAShare price $9.57Last synced Aug 17, 2026

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.