KING OF PRUSSIA, Pa., Jan. 22, 2013 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK) today announced the release of financial disclosures through January 21, 2013 and fiscal year end 2011 financials. The Company plans a series of additional financial disclosures over the next few weeks and filings on the Securities & Exchange Commission and OTCBB websites that will offer investors additional transparency into the sharp and positive turnaround the Company has experienced over the past few months. As a result of this turn around, Medical Alarm Concepts is expecting positive cash flow profitability this quarter (March 2013), throughout the coming year, and beyond.
"Over the coming days our company will be releasing a significant amount of financial information to our investors. The disclosures we are making today and in the near future will go a long way to providing transparency to how we have restructured our Company and how we have returned to cash flow profitability," commented CEO, Ronnie Adams. "We have rescheduled our conference call to January 31st at 11AM EST to discuss these results simply because we wish to, prior to our call, show our recent financial performance and offer forecasts for the coming year. What our investors will hear on the conference call is that MDHI has restored a robust revenue growth rate and that cash flow operational profitability is expected for the full year Fiscal 2013 and beyond. The medical alarm space is growing at a very rapid rate as the US population ages. Our unique, patented device is riding this wave of growth. Please join us on January 31st to discuss the steps we have taken to restore growth and profitability, and our plans for 2013 and beyond. We are expecting 2013 to be a very strong year for Medical Alarm Concepts."
For fiscal year ending June 30, 2011, the Company is reporting revenues of $452,110 and gross margins of 67%. During the fiscal year period, the Company reported a loss of $825,070. The Company is expecting significant growth in revenues and profitability for coming periods.
The financial disclosures being made available today and results for fiscal year ending 2011 can be accessed at the following link: http://www.mediafire.com/view/?ab7u498wu910kvh.
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 e-mail 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.
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