BOCA RATON, Fla., May 27 /PRNewswire-FirstCall/ -- MedeFile International, Inc. (OTC Bulletin Board: MDFI), a company specializing in portable electronic medical records management solutions, announced today that the Company has completed the next phase of its strategic plan and has converted all existing debt into restricted common stock.
Milton Hauser, Chairman and CEO of MedeFile, stated, "The debt conversion has served to materially strengthen our balance sheet, while providing us with additional working capital to help fund our strategic organic growth. This debt conversion will enable management to continue to initiate new sales and marketing programs aimed at increasing the number of subscribers to the MedeFile system. In addition to our ongoing efforts in the wholesale enterprise market, we are now geared up to market to consumers directly through strategic partnerships, various mediums, and physician groups and practices. MedeFile has ramped up our operations in anticipation of our marketing efforts by implementing additional scanning operations, outsourced fulfillment operations and support call centers. We look forward to keeping our shareholders up-to-date on our achievements now and in the future."
The securities offered by MedeFile have not been registered under the Securities Act of 1922 or any state securities laws. Therefore, such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and any applicable state securities laws. This press release does not constitute an offer to purchase any securities or a solicitation of an offer to sell any securities.
About MedeFile International, Inc.
Headquartered in South Florida, MedeFile has a proprietary system for gathering and digitizing medical records so that individuals can have a comprehensive record of all of their medical visits. MedeFile's primary product is the MedeFile system, a highly secure system for gathering and maintaining medical records. The MedeFile system is designed to gather all of its members' actual medical records and create a single, comprehensive medical record that is accessible 24 hours a day, seven days a week. For more information about MedeFile and its annual subscription-based programs, please visit www.medefile.com
Safe Harbor Statement Under the Private Securities Litigation Act of 1995
With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of MedeFile could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the Company's operations or expansion, inability to hire and retain qualified personnel, changes in the general economic climate, including rising interest rates, and unanticipated events such as terrorist activities. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, and such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements. For further risk factors associated with our Company, review our SEC filings.
CONTACT:
MedeFile International, Inc.
877-419-FILE
SOURCE MedeFile International, Inc.
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