KING OF PRUSSIA, Pa.,
June 6, 2012 /PRNewswire/ -- Medical
Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today released an
audio interview with Company President, Ronald Adams. In the interview, he
discusses the recently signed distribution agreement with the
largest warehouse club store in the U.S., and the marketing program
that is expected to begin Friday, June
8 in conjunction with this store. Also discussed were
the benefits that make the MediPendant™ product unique to the
marketplace. Finally, Mr. Adams discusses the significantly
improving financial structure of the Company, including the new
non-dilutive credit line that is now in place, the retirement of a
significant portion of the Company's convertible debentures, the
cancellation of approximately 100,000,000 potentially highly
dilutive warrants, the growing order volumes, and the Company's
movement toward profitability.
"Over the past week our trading volumes have risen rapidly, as
have the value of our shares. We are pleased to offer the
audio interview we are releasing today, which explains where the
Company has been, the current actions being taken to improve our
business model and our balance sheet, and most importantly, some of
the programs being put into place relating to our recently enhanced
retail presence. We are very excited about the many positive
changes at the Company and believe we are marching toward
profitability in the near future."
The audio interview featuring Mr. Adams can be accessed at the
following link - http://www.youtube.com/LISTEN TO MDHI.
The Company recently launched a strategic alliance partnership
with the largest warehouse club store in the U.S. for sales of the
Company's MediPendant™ product. This program is now operational
with orders being received on a daily basis. The Company has
recently agreed to a joint email-based marketing program sponsored
by this retailer. This email promotion campaign, which is scheduled
to begin on June 8th, is expected to
reach approximately 13,000,000 member customers.
Medical Alarm Concepts returned the MediPendant™ to television
advertising for the week of June 4th
with 132 time slots booked on national and regional cable
networks. Additionally, 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.
About MDHI
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. 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.
SOURCE Medical Alarm Concepts Holding, Inc.