MDHI Cancels Fuel Additive Project - As Company Trends into Profitability to Concentrate Exclusively on the MediPendant
KING OF PRUSSIA, Pa., Aug. 9, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK) today announced the cancellation of its exploratory entry into the fuel additive business in order to concentrate exclusively on its MediPendant personal medical alarm product line.
Ronald Adams, CEO, commented, "The engine performance testing that was completed produced very mixed results and we realize that a meaningful amount of additional testing will be required to validate this engine performance technology. Therefore, we have decided to terminate this project in order to concentrate all of our corporate resources on the MediPendant product, which is currently producing strong results and is expected to lead us into profitability over the next few months. Our current level of MediPendant product shipments is already taxing our staff and with our major Fall retail promotion only a few weeks away we want all our staff's attention focused on our task at hand."
About Medical Alarm Concepts Holding, Inc.
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 PERS 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, 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.
Medical Alarm Concepts Holding, Inc.
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SOURCE Medical Alarm Concepts Holding, Inc.
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