KING OF PRUSSIA, Pa., Feb. 7, 2012 \/PRNewswire\/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today issued comments on its pending merger with Carrollton, Texas-based FirstFitness Nutrition Inc., a leading provider of weight loss, wellness, energy, and fitness nutritional products. <\/p>\n
Both companies are currently seeing significantly revitalized revenue growth rates as a result of the implementation of new marketing programs and the introduction of new products. Medical Alarm recently announced its largest order to date, and FirstFitness is experiencing very strong revenue growth as a result of the introduction of its new products. <\/p>\n
The combined operation is expected to produce over $12 million in revenues this year and to yield both positive earnings and cash flow. There are currently approximately 424 million outstanding shares, yielding an approximate market capitalization of only $4.2 million. Management believes this valuation significantly understates the true value of the organization, considering the robust revenue growth, the high likelihood of positive EPS and cash flow, and the meaningfully restructured balance sheet management expects to present upon consummation of the merger. Medical Alarm Concepts has initiated the process of updating its financials for recently ending periods, and plans to file these results with the Securities & Exchange Commission in order to remain a fully reporting organization. <\/p>\n
MDHI principles commented, \"We are very proud of the new corporate structure we are putting into place. Over the coming weeks we plan to make additional announcements concerning warrant cancellations, and the successful renegotiation of the remaining convertible debt. Many small companies are straddled with toxic convertible debt, which is usually very beneficial for the debt holders, but typically works as a detriment to the common shareholder. Upon closure of this merger we expect to have all of this debt retired, with the vast majority of the warrants cancelled. This will result in a significant reversal of the derivative liability charges currently on the books. Our aim is to build a company with real earnings, real cash flow, and a strong balance sheet in which this management team and our common shareholders can be proud. We thank all of our shareholders for their support as we work to build a strong and profitable organization.\" <\/p>\n
About Medical Alarm Concepts and FirstFitness Nutrition <\/p>\n
Medical Alarm Concepts Holding, Inc. develops and manufactures the MediPendant\u2122 patented two-way voice personal medical alarm technology, which enables the user to speak and listen directly through the pendant no matter where the user may be in and around their home. First Fitness Nutrition, headquartered in Carrollton, Texas is a leading provider of wellness, weight loss, energy and nutritional products. The Company has been in business for more than 20 years distributing its products via a dynamic sales channel consisting of more than 5,000 dedicated men and women who market the products to consumers in all fifty U.S. states. For more information on FirstFitness Nutrition please visit the Company's website at http:\/\/www.firstfitness.com. <\/a>; <\/p>\n Safe Harbor Statement <\/p>\n 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 letter of intent outlined in this press release is nonbinding on either party, and while both parties intend for the merger to be consummated, there is no assurance that a definitive agreement will take place. 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. <\/p>\n Contact: See the original post here: KING OF PRUSSIA, Pa., Feb. Continue reading
Medical Alarm Concepts Holding, Inc.
(610) 742-4420 ext. 113 <\/p>\n<\/p>\n
\nMedical Alarm Concepts Holding Comments on Pending Merger With FirstFitness Nutrition<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"