KING OF PRUSSIA, Pa., June 14, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today provides an update for its investors relative to recent and upcoming marketing events for its MediPendant™ personal medical alarm with true, voice prompted two-way communications through the pendant.
Last week, the Company began offering the MediPendant™ product for sale via the website of largest warehouse club store in the U.S. Over this last weekend, the retailer sent millions of emails to its customers to promote the MediPendant™ product. Thus far, sales and shipments have been brisk and have exceeded the Company's expectations. MDHI is currently in the planning stages with this retailer for additional promotional campaigns.
"We are off to a fantastic start with this new retail program, and not only are we shipping record numbers of MediPendants™, we are also getting a record number of calls from potential customers asking specific questions about the product," commented Ronald Adams, President of MDHI. "Our consumer typically does a considerable amount of research before buying a medical alert system for either themselves or a loved one, and we are expecting a strong continuing flow of orders over the coming weeks and months. We are currently in the process of selecting additional marketing programs we wish to implement in conjunction with this retailer, which will further increase awareness of our product and drive our sales volumes."
The Company is also announcing today the launch of a MediPendant™ print advertising campaign in monthly publications designed for senior citizens. This program will launch the first week of July in seven major metro areas, with four additional areas being added for the early August publication. Additionally, MDHI is in process of expanding its web presence via major modifications of its websites and through the implementation of a Google Adwords campaign. The Company plans to announce the specifics of these programs over the coming weeks.
Mr. Adams continued, "The entire dynamic of our Company has changed dramatically over the past few months. We are shipping record volumes, we have made significant strides in strengthening our balance sheet via debt and warrant cancellations, we have implemented a new credit line, and our pipeline of future deals and sales has never looked better. We believe we are turning the corner toward success as our marketing programs accelerate. We thank all of our investors for the strong support they have given the Company."
In addition to the strategic alliance partnership with the largest Warehouse Club Store in the U.S., MDHI also returned the MediPendant™ to television advertising during the week of June 4th with 132 time slots booked on national and regional cable networks. The Company is in the process of booking additional media times for television spots that will run in subsequent weeks.
The Company recently filed form 8K with the U.S. Securities & Exchange Commission outlining additional retirements of convertible debt. MDHI just reached an agreement to convert $37,525 worth of potentially highly dilutive convertible debentures. This conversion entirely closes out this convertible debt holders' position and brings the total amount of convertible debt removed from the Company's balance sheet since the beginning of this year to $93,775 and the total number of warrants cancelled to 100,250,000. These cancellations will likely allow the Company to reverse a significant portion of the derivative liability charges during this fiscal quarter or in subsequent quarters, and will prevent a significant amount of shareholder dilution. To review this 8K filing and our other filings with the Securities & Exchange Commission, please visit the SEC website at www.sec.gov.
Medical Alarm Concepts Holding, 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 please visit our website at 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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