MISSION VIEJO, CA--(NewMediaWire - May 4, 2016) - Auxilio,
Inc. (OTCQB:
AUXO), a leading provider of Managed Print Services (MPS) and
Cybersecurity Services for the healthcare industry, announces that
its Board of Directors unanimously approved a program to repurchase
up to $1 million of the company's common stock.
The authorized repurchases will be made from time to time in
either the open market, block transactions, or through privately
negotiated transactions. The timing, volume and nature of share
repurchases will be at the sole discretion of management, dependent
on market conditions, applicable securities laws, and other
factors, and may be suspended or discontinued at any time.
"Our company's strong cash flow and capacity to fund purchases
make it possible for us to increase the value we bring to our
shareholders through this proactive measure," said Joseph F. Flynn,
Auxilio CEO and President. "The repurchase program also sends
a solid signal to Wall Street that we strongly believe our stock is
undervalued, and that this is a good use of the company's
funds."
No assurance can be given that any particular amount of common
stock will be repurchased. This repurchase program is valid for up
to three years and is subject to the company's blackout
periods. The program may be modified, extended or terminated
by the Board of Directors at any time. The Company will report the
repurchases in its periodic reports filed with the U.S. Securities
and Exchange Commission.
As of March 31, 2016, Auxilio has approximately $5.3 million in
cash as well as up to approximately $1.8 million in available and
unused borrowing capacity. Auxilio intends to use available cash to
fund the repurchase.
About Auxilio, Inc.
Since 2004, Auxilio has led the Managed Print Services industry by
offering an innovative and customer driven approach for healthcare
organizations. Auxilio takes full responsibility for healthcare
customers' on-site print environment through situation assessment,
process analysis, strategy development and program implementation.
Hospitals and health systems benefit from streamlined and aligned
processes and infrastructure that result in print management
programs that reduce cost, increase employee productivity, and meet
and exceed patient care standards.
Auxilio serves a national portfolio of nearly 220 hospital
campuses and manages over 1.5 billion documents annually from over
90,000 devices, supporting over 280,000 caregivers. Auxilio's
Managed Print Services' business model is vendor neutral, provides
a dedicated resident team and is exclusive to the healthcare
industry.
Through its Cybersecurity Professional Services Group, Redspin
(a subsidiary of Auxilio) provides an end-to-end security offering
that specifically addresses hospital security challenges or when a
breach has occurred. Redspin's fully comprehensive portfolio of
services and technology includes penetration testing, HIPAA
security risk assessments, security program strategy, and a SaaS
technology solution, Redspin™ Risk Manager to more than 140
hospitals. This complete service offering of Redspin is unique to
the marketplace and helps ensure enterprise-wide security and
improved patient experiences through its ability to mitigate risk
and improve efficiency across the hospital or health system.
For more information about Auxilio, visit http://www.auxilioinc.com.
Forward Looking Statements
This release contains certain forward-looking statements relating
to the business of Auxilio, Inc. that can be identified by the use
of forward-looking terminology such as "believes," "expects,"
"anticipates," "may" or similar expressions. Such forward-looking
statements involve known and unknown risks and uncertainties,
including uncertainties relating to product/services development,
long and uncertain sales cycles, the ability to obtain or maintain
patent or other proprietary intellectual property protection,
market acceptance, future capital requirements, competition from
other providers, the ability of our vendors to continue supplying
the company with equipment, parts, supplies and services at
comparable terms and prices, expectations relating to momentum of
the business, expectations of increased demand for Auxilio's
services, growth of Auxilio's vertical framework, anticipated
results from cross-selling efforts, growing demand for Auxilio's
MPS programs, and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
Form 10-K and Form 10-Q filings with the Securities and Exchange
Commission, which are available at http://www.sec.gov. Auxilio, Inc. is under no
obligation (and expressly disclaims any such obligation) to update
or alter its forward-looking statements whether as a result of new
information, future events or otherwise.