MDHI News .0035 Medical Alarm Begins Revenue Re
Post# of 145170
MDHI News .0035
Medical Alarm Begins Revenue Recognition from Largest Set of Orders -- Releases New Television Commercial
2012-05-22 09:00 ET - News Release
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.
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