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HASCO Medical Chairman Provides $2 Million in Capital and a Personal Guarantee on Additional $2 Million Promissory Note
Date:8/4/2011

MOBILE, Ala., Aug. 4, 2011 /PRNewswire/ -- HASCO Medical, Inc. (OTCBB: HASC), www.mysouthernmed.com, a managed healthcare provider that serves patients in Alabama, Florida, and Mississippi, announced today that the Chairman of the Company, Hal Compton, Sr. has personally guaranteed the financing that was used for the purchase of Mobility Freedom, Inc. http://finance.yahoo.com/news/HASCO-Medical-Announces-prnews-1072922352.html?x=0&.v=1 on May 17th, 2011.

As part of the purchase price of Mobility Freedom, Inc., on May 13, 2011, the Company issued a $2 Million Promissory Note to Jeff Connor and Patricia Connor, as sellers of Mobility Freedom.  The Note will bear interest of 6% with principal and interest being paid in equal successive monthly installments, each in the amount of $16,877.14, commencing on August 1, 2011 and continuing on the same day of each month thereafter for a period of 180 months until all principal and accrued interest has been paid in full. The Note is guaranteed by Hal Compton, Sr., HASCO Medical's Chairman.

In order to finance the cash portion of the purchase price of Mobility Freedom, Inc., on May 13, 2011, the Company issued a $2 Million Promissory Note to Hal Compton, Sr., Chairman of HASCO Medical.  Hal Compton, Sr. paid $1.85 million as well as $150,000 of working capital into the Company for a total of $2 million.  The Note will bear interest of 5% with principal and interest being paid in equal successive monthly installments, each in the amount of $21,213.00 commencing on August 15, 2011 and continuing on the same day of each month thereafter for a period of 120 months until all principal and accrued interest have been paid in full.

"The ability to secure nearly $4 million under these very favorable terms, and the confidence of our Chairman to not
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SOURCE HASCO Medical, Inc.
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