KING OF PRUSSIA, Pa.,
Sept. 5, 2012 /PRNewswire/ -- Medical
Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), manufacturer of the
MediPendant™ two-way voice personal medical alarm, today provides
investors with a business update and releases an audio interview
with CEO, Ronnie Adams. In the
interview, Mr. Adams comments about current growth in the business,
the corporation's path to profitability and discusses other recent
successes. The interview can be heard at
http://bit.ly/RiyMwi.
Ronnie Adams, Company CEO
commented, "In this audio interview we outline how our business has
fundamentally changed over the past few months. Our call
volumes have risen dramatically and our order levels have followed
to such a degree that we are in process of adding additional staff
to assist with taking orders and activating services. Our
rate of customer upgrade remains high, which is allowing us to add
to our recurring monthly revenues and gross margins. We are
very happy with our growth rate and feel we have the inventory on
hand and on order to implement our financial goals."
Some business highlights outlined in the audio interview
include:
Order Spike – Over the past 48 hours approximately 32 news
orders were taken and many activations and up sells
completed. This is an increase in the level of business
activity of over 400% from just a few months ago. Management
believes the Company is moving into its busiest time of the year
and expects continued order acceleration through year-end as a
result.
Google Adwords Campaign – The Company recently kicked off its
Google Adwords campaign, which has already significantly increased
web hits, incoming calls and sales.
International – Shipments to Denmark have begun with an order from
Ireland expected over the short
term. Additional contracts are being worked for Australia, Slovenia, and several other European
countries.
Balance Sheet Restructuring – The balance sheet restructuring
includes recent debt forgiveness and consolidation, cancellation of
165 million toxic warrants, the pay down of trade payables and
increases in working capital and inventories.
Financial Reporting- The Company has notified its accountants to
begin the process during the month of September of preparing
financials in order to return the company to fully reporting
status.
Capital Structure – Mr. Adams commented that there are
approximately 631 million shares outstanding placing the market
capitalization at approximately $2.5
million. Management believes this market cap will grow
significantly as the Company approaches profitability.
Profit/Loss – The current acceleration in the revenue growth
trajectory places the Company on track to become profitable over
the short term as the signing of monthly contracts continues to
accelerate. Upcoming promotions and distributor orders are
expected to be additive to this fast approaching profitability.
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. (MAC) develops and
manufactures innovative products and practical solutions within the
framework of a vast growing marketplace. MediPendant's™ patented
two-way voice technology enables the user to speak and listen
directly through the pendant no matter where the user may be in and
around their home. MediPendant™ service also includes advanced
features such as three-way calling that enables the operator to
link loved ones directly into the emergency call in real time.
Text message alerts are also standard, and are used to inform
loved ones that the user has contacted an operator or has requested
assistance. A standard medical alarm system does not enable the
user to speak and listen through the pendant, thus limiting them to
a small area in their home. There is always the risk that the user
will not be heard by the call center operator if they are not
within a short range of the base station. For more information
please go to www.medipendant.com.
Safe Harbor Statement
Statements in this press release that are not
statements of historical or current fact constitute
"forward-looking statements." Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown
factors that could cause the Company'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," to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's filings with
Securities and Exchange Commission.
Contact:
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113
SOURCE Medical Alarm Concepts Holding, Inc.