MIAMI, Aug. 16, 2012 /PRNewswire/ -- Hi Score Corporation (PINKSHEETS: HSCO) announced today that its President, Michael Zoyes has been in serious discussion with a Miami based Medical Billing Company. The talks involve the acquisition of the Medical Billing Company by Hi Score Corporation.
The Medical Billing Company that is involved with the discussions is a private company that is in a growth stage. "If we can make this happen we will be adding approximately 1 million dollars per year to our EBITDA and we will be postured to expand to other sections of the Medical Solutions Industry," said Mr. Zoyes. "Our discussions have become more definitive…we expect to make a final determination regarding this possible acquisition within 45 days…things look promising and we are hopeful…"
This announcement comes just days after the Board of Directors issued a resolution approving the expansion of the company's business model. The expansion revolves around the company seeking out profitable existing companies for acquisition in three specific sectors: Energy Saving Lighting, Medical Solutions and Energy Drinks. "We are committed to expanding our base… in that light, we are determined to enter the Medical Solutions Industry…the industry is profitable and growing. The changes that have been brought about by recent legislation have opened up tremendous opportunities," continued Mr. Zoyes.
The company continues to be very optimistic about the future.
About Hi Score
Hi Score Corporation is a supplier of eco-friendly lighting products in the Western Hemisphere. It offers its customers the fiscal and ecological practicality of utilizing safe, efficient, solid state green lighting rather than conventional fluorescent and incandescent bulbs. The Company offers a wide selection of high quality, long lasting LED lighting products that that can replace existing incandescent, fluorescent and halogen bulbs as well as compact fluorescent lights. Additionally the Company offers Compact Fluorescent and Halogen Lighting under its EcoGreenBulb and REPCO Labels, respectively. The Company sells its products directly to distributors, consumers, businesses as well as to municipalities. In August of 2012 the Company resolved to explore acquisition of other profitable private companies in the Energy Saving Lighting as well as in the Medical Solutions and Energy Drinks Industries.
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Hi Score Corporation
SOURCE Hi Score Corporation