KING OF PRUSSIA, Pa., Sept. 5, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), manufacturer of the MediPendant™ two-way voice personal medical alarm, today provides investors with a business update and releases an audio interview with CEO, Ronnie Adams. In the interview, Mr. Adams comments about current growth in the business, the corporation's path to profitability and discusses other recent successes. The interview can be heard at http://bit.ly/RiyMwi.
Ronnie Adams, Company CEO commented, "In this audio interview we outline how our business has fundamentally changed over the past few months. Our call volumes have risen dramatically and our order levels have followed to such a degree that we are in process of adding additional staff to assist with taking orders and activating services. Our rate of customer upgrade remains high, which is allowing us to add to our recurring monthly revenues and gross margins. We are very happy with our growth rate and feel we have the inventory on hand and on order to implement our financial goals."
Some business highlights outlined in the audio interview include:
Order Spike – Over the past 48 hours approximately 32 news orders were taken and many activations and up sells completed. This is an increase in the level of business activity of over 400% from just a few months ago. Management believes the Company is moving into its busiest time of the year and expects continued order acceleration through year-end as a result.
Google Adwords Campaign – The Company recently kicked off its Google Adwords campaign, which has already significantly increased web hits, incoming calls and sales.
International – Shipments to Denmark have begun with an order from Ireland expected over the short term. Additional contracts are being worked for Australia, Slovenia, and several other European countries.
Balance Sheet Restructuring – The balance sheet restructuring includes recent debt forgiveness and consolidation, cancellation of 165 million toxic warrants, the pay down of trade payables and increases in working capital and inventories.
Financial Reporting- The Company has notified its accountants to begin the process during the month of September of preparing financials in order to return the company to fully reporting status.
Capital Structure – Mr. Adams commented that there are approximately 631 million shares outstanding placing the market capitalization at approximately $2.5 million. Management believes this market cap will grow significantly as the Company approaches profitability.
Profit/Loss – The current acceleration in the revenue growth trajectory places the Company on track to become profitable over the short term as the signing of monthly contracts continues to accelerate. Upcoming promotions and distributor orders are expected to be additive to this fast approaching profitability.
About Medical Alarm Concepts
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 medical alarm 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 go to 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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