MMRGlobal Plans for New Financing for Expansion to Home Healthcare, Telemedicine and Retail
March 15 2012 - 9:05AM
Marketwired
MMRGlobal, Inc. (OTCBB: MMRF) (the "Company"), a leading provider
of Personal Health Records (PHRs), MyEsafeDepositBox storage
solutions, and electronic document management and imaging systems
for healthcare professionals, today announced that on March 14,
2012, it filed a Form 8-K with the U.S. Securities and Exchange
Commission under Item 8.01 regarding its equity facility with
Dutchess Opportunity Fund, II, L.P. The Company stated that it is
in the process of seeking to replace its current facility with
Dutchess shortly following the filing of the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2011.
The Company plans on filing on March 30, 2012 with a conference
call led by Chairman/CEO Robert H. Lorsch and CFO Ingrid Safranek
scheduled for the same day at 1:30 p.m. PDT / 4:30 pm EDT.
According to Lorsch, "The Company is exploring a mix of
investor-friendly financing opportunities to fund growth as we get
ready to respond to the expanded use of Personal Health Records
mandated under Stage 2 Meaningful Use criteria. It also takes a mix
of different types of financing when you are funding retail
distribution, which carries significant accounts receivable, making
investments in technology and infrastructure to keep pace with
mandatory guidelines, and continuing exploitation of our patents
and the Company's biotech intellectual property, while maintaining
sufficient capital for general operating purposes."
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary,
MyMedicalRecords, Inc. ("MMR"), 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, 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. The Company'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 in real time through an integrated
patient portal. MMR is an Independent Software Vendor Partner with
Kodak to deliver an integrated turnkey EMR solution for healthcare
professionals. Through its merger with Favrille, Inc. in January
2009, the Company 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.
and its products visit www.mmrglobal.com.
Forward-Looking Statements
All statements in this press release that are not strictly
historical in nature and the Company's 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 the Company'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," "offer," "development,"
"if," "negotiate," "when," "begun," "believe," "achieve," "will,"
"estimate," "expect," "maintain," "plan," and "continue," or the
negative of these words. The Company is providing this information
as of the date of this release and, except as required by 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.
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CONTACT: Michael Selsman Public Communications Co. (310)
922-7033 ms@publiccommunications.biz