MMRGlobal Announces No Increase in Authorized Shares Due to Record
Sales & Licensing Revenues
LOS ANGELES, CA--(Marketwired - Jun 2, 2014) - MMRGlobal, Inc.
(OTCQB: MMRF) (the "Company") today announced that for the first
time in two years, the Company will not be requesting an increase
in its authorized shares of common stock going into its Annual
Meeting scheduled for July 16, 2014. Based on recent operating
trends, including sales of its MyMedicalRecords Personal Health
Record (PHR), licensing revenues and projected sales at retail, the
Company does not foresee having to request additional shares to
fund its ordinary working capital needs for this
year. MMRGlobal reported record revenue for the first quarter
of 2014 and projects that overall this operating trend will
continue throughout CY 2014. Furthermore, the Company looks forward
to announcing at least two significant patent licensing settlement
agreements involving existing defendants and others in the current
quarter. The Company also called attention to an article in Healio
that appeared yesterday entitled "Lenalidomide, rituximab achieved
responses in treatment-naive patients with follicular lymphoma."
Information contained in the article appears to be significant
toward the meeting of milestones contained in thirteen million
dollars of non-exclusive license agreement(s) with a major
biopharmaceutical company. The agreements pertain to allowing big
pharma to access and utilize certain of the Company's pre-merger
biotech assets and other data to help expedite FDA and European
market approvals of Revlimid® (lenalidomide) in the treatment of
follicular lymphoma. Details can be found on Form 8-K in the
Company's filings with the SEC.
The Company, through its wholly owned subsidiary,
MyMedicalRecords, Inc. (collectively, "MMR"), is a leading provider
of Personal Health Records, MyEsafeDepositBox storage solutions and
MMRPro document management and imaging systems for healthcare
professionals. MMR
is a practicing entity with 11 U.S. health IT patents including
U.S. Patent Nos. 8,121,855; 8,117,045; 8,117,646; 8,301,466;
8,321,240; 8,352,287; 8,352,288; 8,498,883; 8,626,532; 8,645,161
and 8,725,537, which collectively include over 275 issued claims,
along with additional applications and continuation applications
pending. MMR also has issued patents and pending applications
in 11 other countries or regional authorities of commercial
interest including Australia, Canada, Singapore, New Zealand,
Mexico, Hong Kong, China, Japan, South Korea, Israel, and
Europe.
Although MMR's primary business is as a provider and licensor of
health IT products and services, the Company also has a portfolio
of biotech patents. These pertain to cancer-fighting anti-CD20
monoclonal antibodies under the title, "Antibodies and Methods For
Making and Using Them," issued in the U.S., Mexico, Australia and
South Korea, with patents pending in the U.S., Australia, Brazil,
Canada, China, Hong Kong, India, Europe, Japan and Korea, and
additional patents pertaining to its B-cell idiotype vaccine
worldwide.
About MMRGlobal MMRGlobal, Inc., through its wholly-owned
subsidiary, MyMedicalRecords, Inc., provides secure and easy-to-use
online Personal Health Records ("PHRs") and electronic safe deposit
box storage solutions, serving consumers, healthcare professionals,
employers, insurance companies, financial institutions, retail
pharmacies, and professional organizations and affinity groups. The
MyMedicalRecords PHR enables individuals and families to access
their medical records and other important documents, such as birth
certificates, passports, insurance policies and wills, anytime from
anywhere using the Internet. MyMedicalRecords is built on
proprietary, patented technologies to allow documents, images and
voicemail messages to be transmitted and stored in the system using
a variety of methods, including fax, phone, or file upload without
relying on any specific electronic medical record platform to
populate a user's account. MMR's professional offering, MMRPro, is
designed to give physicians' offices an easy and cost-effective
solution to digitizing paper-based medical records and sharing them
with patients through an integrated patient portal. Through its
merger with Favrille, Inc. in January 2009, MMR acquired
intellectual property biotech assets that include anti-CD20
antibodies and data and samples from its FavId™/Specifid™ vaccine
clinical trials for the treatment of B-Cell Non-Hodgkin's lymphoma.
To learn more about MMRGlobal, Inc. visit www.mmrglobal.com. View
demos and video tutorials of MMR's products and services at
www.mmrtheater.com. Follow us at Facebook.com/MMRGlobal and
Twitter.com/mmrglobal.
Forward-Looking Statements All statements in this press release
that are not strictly historical in nature, including, without
limitation, intellectual property licenses, intellectual
property enforcement actions, infringement claims or litigation,
and future performance, management's expectations, beliefs,
intentions, estimates or projections, constitute "forward-looking
statements." Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause MMR's
actual results to be materially different from historical results
or from any results expressed or implied by such forward-looking
statements. Some can be identified by the use of words (and their
derivations) such as "need," "possibility," "potential," "intend,"
"offer," "development," "if," "negotiate," "when," "begun,"
"believe," "achieve," "will," "estimate," "expect," "maintain,"
"plan," and "continue," or the negative of these words. Actual
outcomes and results of operations and the timing of selected
events may differ materially from the results predicted, and any
reported results should not be considered as an indication of
future performance. Such statements are necessarily based on
assumptions and estimates and are subject to various risks and
uncertainties, including those relating to the possible invalidity
of the underlying assumptions and estimates and possible changes or
developments in economic, business, industry, market, legal and
regulatory circumstances and conditions and actions taken or
omitted to be taken by third parties, including customers,
suppliers, business partners, potential licensees, competitors and
legislative, judicial and other governmental authorities and
officials. Factors that could cause or contribute to such
differences include, but are not limited to: unexpected outcomes
with respect to intellectual property enforcement actions, claims
of intellectual property infringement and general intellectual
property litigation; our ability to maintain, develop, license,
monetize and protect our patent portfolio for both MMR's health IT
and biotechnology intellectual property assets in the U.S. and
internationally; the timing of milestone payments in connection
with licensing our intellectual property; our ability to establish
and maintain strategic relationships; changes in our relationships
with our licensees; the risk MMR's products are not adopted or
viewed favorably by the healthcare community and consumer retail
market; business prospects, results of operations or financial
condition; risks related to the current uncertainty and instability
in financial and lending markets, including global economic
uncertainties; the timing and volume of sales and installations;
the length of sales cycles and the installation process; the
market's acceptance of new product and service introductions;
competitive product offerings and promotions; changes in government
laws and regulations including the 2009 HITECH Act and changes in
Meaningful Use and the 2010 Affordable Care Act; future changes in
tax legislation and initiatives in the healthcare industry;
undetected errors in our products; the possibility of interruption
at our data centers; risks related to third party vendors; risks
related to obtaining and integrating third-party licensed
technology; risks related to a security breach by third parties;
risks associated with recruitment and retention of key personnel;
other litigation matters; uncertainties associated with doing
business internationally across borders and territories; and
additional risks discussed in MMR's filings with the Securities and
Exchange Commission. MMR is providing this information as of
the date of this release and, except as required by applicable law,
does not undertake any obligation to update any forward-looking
statements contained in this release as a result of new
information, future events or otherwise.
CONTACT: Michael Selsman Public Communications Co.
ms@publiccommunications.biz (310)
922-7033