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Medical Alarm to Begin Fulfillment of MediPendant™ Against Largest Purchase Order - Announces Additional Warrant Cancellations
Date:1/31/2012

products. The combined operation is expected to produce over $12 million in revenues this year, and to yield both positive earnings and cash flow. Since the announcement of the proposed merger, revenues at FirstFitness have been accelerating due to increased interest in the weight loss category and enhancements to its marketing efforts.  The companies have set February 28, 2012 as the proposed closing date for the merger.

In other news, the Company has been successful in negotiating the cancellation of an additional 10.5 million in money warrants, which is in addition to the cancellation of the 15.5 million in money warrants announced last week. The Company is expecting additional warrant cancellations and convertible debt cancellations over the next several weeks. These cancellations are part of an ongoing program to reduce shareholder dilution and to meaningfully improve the Company's balance sheet and future income statement performance.

 

About Medical Alarm Concepts

Medical Alarm Concepts Holdings, 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
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SOURCE Medical Alarm Concepts Holding, Inc.
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