KING OF PRUSSIA, Pa.,
Sept. 6, 2012 /PRNewswire/
-- Medical Alarm Concepts Holding, Inc. (OTCQB: MDHI.PK),
manufacturer of the MediPendant™ two-way voice personal medical
alarm, today announces the retirement of the last portion of it
outstanding Series B Convertible Preferred shares.
Ronald Adams CEO commented, "Over the past few months we have
negotiated the cancellation of a large portion of convertible debt,
the cancellation of 165 million toxic warrants most of which were
in the money, and now the final piece of Series B Convertible
Preferred shares. All of our Series A preferred had been
retired previously. As we prepare to move into profitability
and back into fully reporting status, these retirements and
cancellations will allow us to reflect the true worth of our
business on upcoming balance sheets and in our other
financials."
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 medical alarm 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 go to 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.
Contact:
Medical Alarm Concepts Holding, Inc.
877-639-2929 Ext. 113
SOURCE Medical Alarm Concepts Holding, Inc.