Navigation Links
InstaCare Corp. in Turnaround Reports 258% Revenues Increase in 1Q 2008

ISCR also Reports 1st quarter profit, enhanced operations and new


LOS ANGELES, May 21 /PRNewswire-FirstCall/ -- InstaCare Corp., (OTC Bulletin Board: ISCR), a leading distributor of at-home testing diagnostics for the chronically ill, life-saving prescription drugs and a developer of patent-pending technologies for e-health and EMR applications, reported financial results for the first quarter period-ended March 31, 2008. Recent highlights include:

-- Revenue grew by 258% in 1Q 2008 vs. 1Q 2007 as sales and orders for

at-home diagnostics and medical surgical products surged

-- ISCR reports 1Q 2008 operating profit of $146,522 and enhanced

operating margins vs. 2007

-- Letters of commitment executed with two major medical surgical products


-- Company announces agreements with two additional pharmacies for market


For the first quarter of 2008, InstaCare reported revenues of $2,797,382, a gain of 258% from $1,083,282 recorded during the first quarter of 2007. The increase in revenues was due primarily to sales from the distribution of medical diagnostic and medical disposable products for patients with chronic diseases. Total expenses for the quarter ended March 31, 2008 were $300,977, a decrease of $149,355 over the quarter ended March 31, 2007. The Company reported an operating profit of $146,522 during the first quarter of 2008 compared with an operating loss of $255,682 recorded during the first quarter 2007. The Company incurred a net profit of $41,730, or nil per basic and diluted share for the quarter ended March 31, 2008, compared with a net loss of $403,203 or ($0.04) per basic and diluted share reported for the quarter ended March 31, 2007. InstaCare had cash, accounts, inventory and equivalents of $994,436 as of March 31, 2008.

Keith Berman, chief financial officer of InstaCare, commented, "This has been an exceptional quarter for InstaCare as our businesses grew profitable, on surging sales. We successfully remade our medical diagnostics and medical disposable products distribution businesses and generated almost three million dollars in sales during the first quarter which underscores the health of our business even in a slowing national economy. Now that our cost structure is in place, additional sales will be accompanied by only small incremental expenses and if current trends continue we expect further positive developments this year."

Forward Looking Statements:

This release contains forward-looking statements about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions.

For further information, visit the company's Web Site:

Company Contact:

InstaCare Corp.,

Keith Berman

(805) 446-1973


InstaCare Corp.

Condensed Consolidated Balance Sheets

March 31, December 31,

2008 2007

(Unaudited) Audited


Current assets:

Cash $127,505 $4,353

Accounts receivable 698,545 669,041

Inventory 161,925 96,450

Prepaid expenses 6,461 3,816

Total current assets 994,436 773,660

Fixed assets net of accumulated depreciation

of $154,063 and $145,000, respectively 27,187 36,250

Other assets

Deposits 3,412 3,412

Amortizable loan fees 57,293 -

Total other assets 60,705 3,412

Total assets $1,082,328 $813,322

Liabilities and Stockholders' (Deficit)

Current liabilities:

Accounts payable $21,777 $120,107

Accrued liabilities 194,795 199,265

Accrued interest 455,013 412,837

Line of credit 449,305 467,044

Demand note - related party 280 280

Notes payable, current portion 182,178 181,021

Convertible notes payable 1,452,688 1,377,689

Total current liabilities 2,756,036 2,758,243

Long-term debt, net of current portion 71,623 85,109

Stockholders' (deficit)

Preferred stock, $0.001 par value, 3,249,000

shares authorized, 207,526 shares

issued and outstanding as of March 31, 2008

and December 31, 2007, respectively 207 207

Preferred series "A" stock, $0.001 par value,

750,000 shares authorized no shares

issued and outstanding as of March 31, 2008

and December 31, 2007, respectively - -

Preferred series "C" stock, $0.001 par value,

1,000,000 shares authorized, 17,860

Shares issued and outstanding as of March 31,

2008 and December 31, 2007, respectively 18 18

Preferred series "D" stock, $0.001 par value,

1,000 shares authorized, no shares

issued and outstanding as of March 31, 2008

and December 31, 2007, respectively - -

Common stock, $0.001 par value, 1,750,000,000

shares authorized, 36,831,495 and

29,200,026 shares issued and outstanding as

of March 31, 2008 and December 31, 2007 36,832 29,200

Shares authorized and unissued, 3,700,294 as

of December 31, 2007, respectively - 3,700

Additional paid in capital 17,593,241 17,353,200

Dividend payable 341,825 292,392

Accumulated (deficit) (19,717,454) (19,709,747)

Total stockholders' (deficit) (1,745,331) (2,030,030)

Total liabilities and stockholders'

(deficit) $1,082,328 $813,322

InstaCare Corp.

Condensed Consolidated Statements of Operations


For the Three Months Ended

March 31,

2008 2007

Revenue $2,797,382 $1,083,282

Cost of sales 2,349,883 888,652

Gross profit 447,499 194,630


General and administrative 60,745 102,557

Consulting 65,293 258,267

Payroll expense 120,520 53,253

Professional fees 45,356 24,490

Depreciation expense 9,063 11,745

Total operating expenses 300,977 450,312

Net operating income (loss) 146,522 (255,682)

Other income (expense):

Contingency for damaged product claim - (81,600)

Finance costs (49,474) (9,216)

Interest expense (55,318) (56,705)

Total other income (expense) (104,792) (147,521)

Net income (loss) $41,730 $(403,203)

Add: Dividends declared on preferred stock - (66,250)

Income (loss) available to common stockholders' $41,730 $(469,453)

Weighted average number of common shares

outstanding - basic and fully diluted 34,048,005 10,310,099

Net income (loss) per share - basic and

fully diluted $0.00 $(0.04)

SOURCE InstaCare Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. InstaCare Corp. Reviewing M&A Plans
2. Mindray to Hold Conference Call to Discuss the Integration Plan and Closing of the Acquisition of Datascope Corp.s Patient Monitoring Business
3. Sharps Compliance Corp. Announces Results for Third Quarter of Fiscal Year 2008
4. STEN Corp. Reports 2008 Second-Quarter Revenue of $4.3 Million and Improved Results From Operations
5. Oracle Healthcare Acquisition Corp. Announces Stockholder Approval of Proposed Dissolution and Plan of Liquidation
6. HMS Holdings Corp. to Present at Bank of America 2008 Healthcare Conference
7. Authentidate Holding Corp. Announces Results From Annual Meeting of Stockholders
8. PSI Corp. Announces Additional Hospitals and Medical Office Buildings to Utilize Its Digital Signage Network
9. MaxLife Fund Corp. Appoints Mr. Dan Schmitt, Mr. Randy Delkus and Mr. Daniel E. Kahan to its Board of Directors
10. HMS Holdings Corp. Hosts First Quarter 2008 Financial Teleconference and Presentation
11. Oracle Healthcare Acquisition Corp. Changes Record Date and Date of Special Meeting to Consider and Vote on Dissolution and Plan of Liquidation
Post Your Comments:
(Date:11/27/2015)... ... November 27, 2015 , ... According to an article ... the way that they are handling security in light of the recent terrorist attacks ... in an attempt to stop an attack from reaching U.S. soil. Especially around special ...
(Date:11/27/2015)... ... November 27, 2015 , ... An ... way to dispense prescription medications at home, so he invented the patent-pending ELECTRONIC ... and dispense prescription medications. In doing so, it could help to prevent potential ...
(Date:11/27/2015)... ... November 27, 2015 , ... The ... of USA Today in Atlanta, Dallas, New York, Minneapolis, South Florida, with a ... component is distributed nationally, through a vast social media strategy and across a ...
(Date:11/27/2015)... ... November 27, 2015 , ... Consistent with ... the 2016 Building Better Radiology Marketing Programs meeting will showcase some ... March 6, 2016, at Caesars Palace in Las Vegas with a pre-conference session ...
(Date:11/27/2015)... ... November 27, 2015 , ... The moment you ... for not only fulfilling the needs of advisers and clients but going above ... and providing top-tier customer service. However, there's always room for improvement, which is ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... Países Bajos, November 26, 2015 ... fotodinámica de Bremachlorin para el cáncer avanzado.   ... con la terapia fotodinámica de Bremachlorin para el cáncer ... enfoque combina la inmunoterapia con la terapia fotodinámica de ... Clinical Cancer Research . --> Clinical Cancer ...
(Date:11/26/2015)... 26, 2015 ... aanpak combineert immunotherapie met Bremachlorin-photodynamische therapie voor ... ) --> ... ) Uit ... Centrum (LUMC) blijkt ...
(Date:11/26/2015)... 3D bioprinting market is expected ... new report by Grand View Research Inc. Rising prevalence of ... kidney transplantation is expected to boost the market growth, as ... transplantation. --> 3D bioprinting market is expected ... new report by Grand View Research Inc. Rising prevalence of ...
Breaking Medicine Technology: