ASXSF Elysee Development Corp (PK)

Remedent, Inc. (OTCBB: REMI), an international company specializing in research, development, and manufacturing of oral care and cosmetic dentistry products, reported results for the first quarter ended on June 30, 2010 (in US Dollars).

Net sales for three months ended June 30, 2010 increased 62% to $3.4 million compared to $2.1 million for the same year ago quarter. The increase in sales was due to the inclusion of our Asian retail operations as well as the sale of First Fit.

Profit for the three months ended June 30, 2010 prior to outside shareholders participation totaled approximately $568 thousand compared with losses of $488 thousand for the same year ago quarter. Profits attributed to Remedent common stockholders for three months ended June 30, 2010 was $312 thousand compared to losses of $549 thousand for the same year ago quarter.

Cash and cash equivalents totaled $1.2 million at June 30, 2010 as opposed to $613 thousand as reported at March 31, 2010.

Management Commentary

"The shifting of our business model from wholesale (B2B) model via a distributor to a direct retail model is beginning to bear fruit as previously mentioned during prior conference calls. During the current quarter we included our retail Asian operations of approximately $600 thousand in gross revenues as we are continuing to open new Spa locations in both Europe and Asia during the next quarter and in the remainder of our financial year. Sales in all our Spa locations continue to exceed our expectations as sales continue to climb," said Guy De Vreese the CEO of Remedent.

Conference Call Information

Remedent will host a conference call on Wednesday, August 18, 2010 at 11:00 a.m. Eastern Standard time (8:00 a.m. Pacific time) to discuss these results and its strategic plans for the future. A question and answer session will follow management's presentation. To participate in the call, dial the appropriate number 5-10 minutes prior to the start time.

Date: Wednesday, August 18, 2010 Time 11:00 a.m. Eastern time (8:00 a.m. Pacific time). Dial in number: 888-765-5547 Passcode: 4258061

The replay of the call will be available through September 15, 2010. The dial in number for the replay is 888-203-1112 and the replay pass code is 4258061

About Remedent

Remedent, Inc. specializes in the research, development, manufacturing and marketing of oral care and cosmetic dentistry products. The company serves professional dental industry with breakthrough technology for dental veneers. These products are supported by a line of professional veneer whitening and teeth sensitivity solutions. Headquartered in Belgium, Remedent distributes its products to more than 35 countries worldwide. For more information, go to www.remedent.com.

Statement under the Private Securities Litigation Reform Act of 1995 Statements in this press release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Remedent's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," "projects," "project," to be uncertain and forward-looking. Actual results could differ materially because of factors such as Remedent's ability to achieve the synergies and value creation contemplated by the proposed transaction. For further information regarding risks and uncertainties associated with Remedent's business, please refer to the risk factors described in Remedent's filings with the Securities and Exchange Commission, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q.

                       REMEDENT, INC. AND SUBSIDIARIES
               CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                 (unaudited)
                                                      For the three months
                                                        ended June 30,
                                                       2010         2009
                                                   -----------  -----------

Net sales                                          $ 3,436,759  $ 2,160,803
Cost of sales                                          914,337    1,096,007
                                                   -----------  -----------
  Gross profit                                       2,522,422    1,064,796
                                                   -----------  -----------
Operating Expenses
    Research and development                            65,545       26,598
    Sales and marketing                                512,976      350,935
    General and administrative                       1,152,712    1,042,764
    Depreciation and amortization                      201,202      173,444
                                                   -----------  -----------
  TOTAL OPERATING EXPENSES                           1,932,435    1,593,741
                                                   -----------  -----------
INCOME (LOSS) FROM OPERATIONS                          589,987     (528,945)
                                                   -----------  -----------
OTHER (EXPENSES) INCOME
    Interest expense                                   (54,891)     (24,647)
    Other income                                        38,860       65,998
                                                   -----------  -----------
  TOTAL OTHER (EXPENSES) INCOME                        (16,031)      41,351
                                                   -----------  -----------

NET INCOME (LOSS) BEFORE TAXES AND NON-CONTROLLING
 INTEREST                                              573,956     (487,594)

INCOME TAXES                                            (6,229)          --
                                                   -----------  -----------
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTEREST      567,727     (487,594)

LESS: NET INCOME ATTRIBUTABLE TO THE NON-
 CONTROLLING INTEREST                                  255,577       61,838
                                                   -----------  -----------

NET (LOSS) INCOME ATTRIBUTABLE TO REMEDENT, INC.
 Common Stockholders                               $   312,150  $  (549,432)
                                                   ===========  ===========

INCOME (LOSS) PER SHARE
  Basic                                            $      0.02  $     (0.03)
                                                   ===========  ===========
  Fully diluted                                    $      0.01  $     (0.03)
                                                   ===========  ===========

WEIGHTED AVERAGE SHARES OUTSTANDING
  Basic                                             19,995,969   19,995,969
                                                   ===========  ===========
  Fully diluted                                     33,595,242   32,702,274
                                                   ===========  ===========
Net Income (Loss) Attributable to Remedent Common
 Stockholders                                      $   312,150  $  (549,432)

OTHER COMPREHENSIVE INCOME (LOSS):
  Foreign currency translation adjustment             (177,648)      57,568
                                                   -----------  -----------

TOTAL OTHER COMPREHENSIVE (LOSS) INCOME                134,502     (491,864)

LESS: COMPREHENSIVE INCOME ATTRIBUTABLE TO NON-
 CONTROLLING INTEREST                                  (15,865)      42,248

                                                   -----------  -----------
COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO
 REMEDENT Common Stockholders                      $   150,367  $  (534,112)
                                                   ===========  ===========



                       REMEDENT, INC. AND SUBSIDIARIES
                    CONDENSED CONSOLIDATED BALANCE SHEETS

                                               June 30, 2010  March 31, 2010
                                               -------------  -------------
                                                (unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents                      $   1,196,888  $     613,466
  Accounts receivable, net of allowance for
   doubtful accounts of $59,608 at June 30,
   2010 and $65,845 at March 31, 2010              1,982,826        806,931
Inventories, net                                   1,850,892      2,161,692
Prepaid expenses                                     938,396        920,487
                                               -------------  -------------
  Total current assets                             5,969,002      4,502,576
                                               -------------  -------------
PROPERTY AND EQUIPMENT, NET                        1,553,783      1,735,719
OTHER ASSETS
Long term investments and advances                   750,000        750,000
Patents, net                                         220,314        246,992
Goodwill                                             699,635        699,635
                                               -------------  -------------
  Total assets                                 $   9,192,734  $   7,934,922
                                               =============  =============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Current portion, long term debt                $     163,784  $     215,489
Line of Credit                                     1,887,063        674,600
Accounts payable                                   1,724,827      1,932,684
Accrued liabilities                                  486,298        491,536
Due to related parties                               265,857        268,484
                                               -------------  -------------
  Total current liabilities                        4,527,829      3,582,793
Long term debt less current portion                  458,236        425,882
                                               -------------  -------------
  Total liabilities                                4,986,065      4,008,675
                                               -------------  -------------

EQUITY:
REMEDENT, INC. STOCKHOLDERS' EQUITY
  Preferred Stock $0.001 par value (10,000,000
   shares authorized, none issued and
   outstanding)                                           --             --
  Common stock, $0.001 par value; (50,000,000
   shares authorized, 19,995,969 shares issued
   and outstanding at June 30, 2010 and March
   31, 2010)                                          19,996         19,996
    Treasury stock, at cost; 723,000 shares at
     June 30, 2010 and March 31, 2010               (831,450)      (831,450)
Additional paid-in capital                        24,843,651     24,742,201
Accumulated deficit                              (19,253,792)   (19,565,943)
Accumulated other comprehensive (loss)
 (foreign currency translation adjustment)          (827,707)      (650,059)
Obligation to issue shares                            97,500         97,500
                                               -------------  -------------
  Total Remedent, Inc. stockholders' equity        4,048,198      3,812,245
Non-controlling interest                             158,471        114,002
                                               -------------  -------------
  Total stockholders' equity                       4,206,669      3,926,247
                                               -------------  -------------
  Total liabilities and equity                 $   9,192,734  $   7,934,922
                                               =============  =============

Stephen Ross 310 922 5685 docktor99@aol.com