MDHI Releases Fiscal 2012 Financials - Updates Financial Disclosures
KING OF PRUSSIA, Pa., Jan. 28, 2013 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI), today announced financial results for Fiscal 2012. The Company will be releasing additional financial information later in the week prior to a conference call to be held on January 31, 2013, at 11AM EST. On the call, CEO, Ronnie Adams, will discuss how the management team has restored a robust revenue growth rate and how the business has now obtained operational positive cash flow. The Company is expecting 2013 to be a year of strong growth as the market for personal medical alarms continues to grow, and as the Company's unique MediPendant® product, which includes two-way speak and listen through the pendant technology, continues to gain consumer acceptance.
Ronnie Adams, CEO, commented, "We have now released financial results for Fiscal Year ending 2011 and Fiscal Year ending 2012. We plan to release additional results through Fiscal September 30, 2012 later the week, with results for the December quarter coming shortly thereafter. We are especially proud of how we have grown our revenues, while reducing our short-term liabilities and trade payables. As of the end of the 2012 fiscal year, our current assets exceeded our current liabilities, which we believe will further improve our ability to finance the rapid growth we are expecting during 2013. On the conference call, which will take place this Thursday, we will discuss our growth plans for 2013. We believe investors will be pleased with the growth we are planning for the year, and the overview of the programs we have put into place and are working to implement, to continue this robust rate of growth."
The financial disclosures being made available today and results for fiscal years ending 2011 and 2012 can be accessed at the following link: http://www.mediafire.com/view/?1ycvhwtr49o7q9p.
To access the conference call, please dial (862) 902-0100 approximately 10 minutes prior to the 11 AM EST start time on January 31st. When prompted for the conference call access number, please enter "984404" and follow the instructions provided. After his initial presentation, CEO, Ronnie Adams, will conduct a live question and answer session with investors. While new questions will be accepted during the call, investors are encouraged to email topics they would like covered and questions they would like answered, to the company at firstname.lastname@example.org.
The MediPendant® is a second-generation personal medical alarm and the only product in its category that allows for monitored, two-way communications directly through the pendant. Older generations of technology require the user to be in close proximity to the base station in order to speak and listen to the operator. With the MediPendant®, the customer can be anywhere within 600 feet of their home, and in the event of an emergency, speak and listen to the EMT-trained operator directly through the pendant.
Additional information on the MediPendant® can be viewed at www.MediPendant.com.
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.
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.
877-639-2929 Ext. 113
SOURCE Medical Alarm Concepts Holding, Inc.
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