KING OF PRUSSIA, Pa., May 22, 2012 /PRNewswire/ -- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK), today announced it has begun realizing revenues from its largest ever set of orders for the MediPendant™ personal medical alarm, which offers patented two-way voice technology, enabling the user to speak and listen directly through the pendant. The delivery of product associated with the first tranche of this order resulted in revenue to the company of $275,000. The Company expects additional revenues from this same customer through the end of the year, as was announced on March 12, 2012.
Additionally, the Company is announcing today the release of its new television commercial for the MediPendant™, which was produced in conjunction with Harrington Multi Media.
"As we have indicated previously, sales of the MediPendant™ have been on a steady progression since the beginning of this year. In addition to the first section of this large order, we are expecting additional orders from this same customer throughout the rest of this year," commented Ronald Adams, President of Medical Alarm Concepts. "Gross margins from these orders are expected to cover much of our overhead operating costs for the rest of this year. In addition to increasing our rate of sales with the MediPendant™, we have also released a new fuel additive product called the MotorBooster™, and we have been very successful in re-negotiating our convertible debt. This has resulted in direct cancellations of debt and the deletion of over 100 million dilutive warrants. This is very positive news for our Company and its investors," added Adams.
Mr. Adams continued, "We are also announcing today the release of our updated television commercial which has been produced in conjunction with Harrington Multi Media. We believe it does an outstanding job in highlighting the differences between our state-of-the-art device with speak and listen through the pendant technology, and the devices currently on the market that are based on much older technologies. We are currently in the process of booking media time for this new television commercial, and plan to run it on or near the launch of the recently announced retail marketing campaign. We are very excited to announce the initiation of both of these marketing campaigns within the next few weeks."
The new television commercial can be viewed at http://www.youtube.com/watch?v=tmfLGoRfaU4.
Medical Alarm Concepts Holding, Inc. (MAC) develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. MediPendant's™ patented two-way voice technology enables the user to speak and listen directly through the pendant no matter where the user may be in and around their home. MediPendant™ service also includes advanced features such as three-way calling that enables the operator to link loved ones directly into the emergency call in real time. Text message alerts are also standard, and are used to inform loved ones that the user has contacted an operator or has requested assistance. A standard PERS system does not enable the user to speak and listen through the pendant, thus limiting them to a small area in their home. There is always the risk that the user will not be heard by the call center operator if they are not within a short range of the base station. For more information, please visit our website at www.medipendant.com.
Safe Harbor Statement
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 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.
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113
|SOURCE Medical Alarm Concepts Holding, Inc.|
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