For Thursday, November 18th
INTK, SPPH, MCVE, GYPH, IFXY
LGTT, CYGX, SLRW, EGOC, HFBG, MDFI
Our Stocks to Watch today include Industrial Nanotech Inc. (OTC: INTK), Spencer Pharmaceutical Inc. (OTC: SPPH), MacroSolve Inc. (OTCBB: MCVE), Gryphon Gold Corp. (OTCBB: GYPH), Infrax Systems Inc. (OTCBB: IFXY), LIGATT Security International Inc. (OTC: LGTT), Cytogenix Inc. (OTC: CYGX), Solarbrook Water and Power Corp. (OTC: SLRW), Energy 1 Corp. (OTC: EGOC), Hall of Fame Beverages Inc. (OTC: HFBG) and MedeFile International Inc. (OTCBB: MDFI).
INDUSTRIAL NANOTECH INCORPORATED (OTC: INTK)
"Up 7.01% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/INTK.php
Company Profile: http://otcpicks.com/Industrial-Nanotech.htm
Industrial Nanotech Inc. is a global nanoscience solutions and research leader and member of the U.S. Greenbuilding Council, the American Solar Energy Society, and an official ALLY organization with the U.S. Dept. of Energy "Save Energy Now" program. The Company develops and commercializes new and innovative applications for sustainable nanotechnology which are sold worldwide.
November 18 - Industrial Nanotech, Inc. Enters Utilities Market; Expands Use of Nanotechnology to Increase Energy Efficiency for Power Companies
Industrial Nanotech, Inc. (OTC: INTK) is working with a major California power company to use the Company’s patented Nansulate® insulation and corrosion control coatings to increase energy generation efficiency and reduce costs. Previously, Nansulate® was used on an oil pipeline project by international power company, Galp Energia, for insulation and corrosion control. The coatings are used worldwide to insulate equipment and facilities, to protect equipment, reduce energy consumption, and improve worker safety.
“We have been working with a large power company on the west coast to identify areas where Nansulate coatings can increase their efficiency, including pipelines, boilers, gas meters, and similar equipment.”
.“Nansulate® coating technology is an innovation in insulation technology. End users of power have been reducing their energy consumption with our coatings for years. It is logical that the power companies would also be interested in increasing the efficiency of power generation with this technology,” stated Francesca Crolley, VP of Business Development for Industrial Nanotech, Inc. “We have been working with a large power company on the west coast to identify areas where Nansulate coatings can increase their efficiency, including pipelines, boilers, gas meters, and similar equipment.”
Ms. Crolley continues, “We have seen a marked increase in demand for our products after announcing our global sustainability project with international textile manufacturer Coats plc., who was quoted as having determined the benefits of using Nansulate to include reducing steam consumption by over 10 percent, reducing related carbon emissions by 2 percent, and significantly improving working conditions of their facilities with our product that is anticipated to pay for itself in less than a year. Companies are finding that the technology offers them an affordable way to improve energy efficiency with relatively short payback of typically between 6-18 months, in addition to providing long-term performance, improving worker safety, and protecting equipment from corrosion and chemical damage.”
SPENCER PHARMACEUTICAL INCORPORATED (OTC: SPPH)
Detailed Quote: http://www.otcpicks.com/quotes/SPPH.php
Company Profile: http://otcpicks.com/Spencer-Pharmaceutical.htm
Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.
November 17 - Spencer Pharmaceutical Releases Scientific Results
Spencer Pharmaceutical Inc. (OTC: SPPH) announced that it has released some of its scientific results.
The company states that chronic inflammation is closely related to many diseases and conditions associated with aging as well as arthritis, gastric reflux disease, colitis, some forms of cancer, Alzheimer's disease, immune dysfunction, etc. There is a great need for effective treatments that will be simple with no adverse side effects.
Generally, Ibuprofen (OTC) is rapidly absorbed following oral administration, and possesses a plasma half-life of approximately 2 hours with 80 % of the administered dose excreted in urine. Consequently, the immediate-release dosage of ibuprofen is 200 mg every 4-6 h, with a maximum dosage of 1200 mg over 24 hours. In simple language, there is a big demand on the market for slow release Ibuprofen.
"Spencer Pharmaceutical has developed such a slow release and unique formulation for NSAIDs controlled release, particularly Ibuprofen, under direct compression on monolithic tablet format, which are able to deliver immediately an effective dosage of the molecule and the remained dosage over a delayed period of 8-10 hours," stated Dr. Max Arella, CEO of Spencer Pharmaceutical Inc. Furthermore "The matrix (excipient) is based on natural molecules and stabilized under ionic forms. All ingredients are 100 % GRAS (generally approved as safe) and already approved as acceptable substances by FDA," pointed out Dr. Arella.
The company also points out, in vitro dissolution showed the novel monolithic tablet (600 mg) of ibuprofen is rapidly delivered in simulated gastric fluid (SGF, pH 2.0) with approximately 25 % released during the first hour and the remaining dosage of ibuprofen is sustained for released over the remaining 10 hours. The easy and non-expensive matrix developed by Spencer Pharmaceutical is currently being submitted for patent protection.
"We are excited by these new results and we are confident that many applications will be found for this new matrix developed by our scientists," commented Dr. Max Arella, CEO of Spencer Pharmaceutical.
November 16 - Spencer Pharmaceutical Discloses Al-Dora Holdings as the Buyout Offering Entity
Spencer Pharmaceutical Inc. (OTC: SPPH) disclosed that the Al-Dora Holdings is the buyout offering entity.
According to information provided to the company, the Al-Dora Holdings is a Kuwaiti private investment company owned and managed by some of the Gulf's richest families. The Al-Dora Holdings is represented by its chairman, His Excellency Dr. Bandar Al-Dhafiri and its CEO His Excellency Hussein Al-Awaid.
The companies' representatives are schedule to hold a meeting in Canada to negotiate a definitive agreement on or before December 22, 2010, this is respecting the Muslim holidays which are currently in effect.
"We are happy to now be advanced enough to disclose the name of the acquiring party," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "Even though, we are advancing with our research and licensing we are putting forth all necessary efforts to see this transaction to a successful conclusion," further added Dr. Arella.
ABOUT AL-DORA HOLDINGS
Al-Dora Holdings is a private investment company located in Kuwait. Al-Dora Holdings is a subsidiary of the Al-Dora Group. (In the translation from Arabic to English, Al-Dora is sometimes spelled Dorra and/or Dura). The Al-Dora Group has investments in the financial sector, oil and gas, pharmaceutical, and real estate.
MACROSOLVE INCORPORATED (OTCBB: MCVE)
Detailed Quote: http://www.otcpicks.com/quotes/MCVE.php
Company Profile: http://otcpicks.com/MacroSolve.htm
MacroSolve, Inc. is a pioneer in delivering mobile apps, technologies, and solutions to businesses and government. Founded in 1997, the company has an extensive network including the top name brands in wireless hardware and software as well as wireless carriers. Leveraging its intellectual property portfolio, MacroSolve is positioned to become a leader in the mobile app space, projected to become a $17.5 billion market by 2012. The company operates through its subsidiaries including Anyware Mobile Solutions and Illume Mobile.
November 17 - StockGuru Announces New Executive Interview With Clint Parr, President and CEO of MacroSolve, Inc.
StockGuru.com announces a new executive interview featuring MacroSolve Inc. (OTCBB: MCVE). In the interview, Clint Parr, President and CEO of MacroSolve, Inc. is interviewed by StockGuru's John Pentony. Mr. Parr gives an update on the patent award announced on October 28, 2010. This patent (U.S. Patent No.7,822,816) addresses mobile information collection systems across all wireless networks, smartphones, tablets, and rugged mobile devices, regardless of carrier and manufacturer, and is currently utilized in MacroSolve's ReForm XT™ rapid mobile app development platform.
Mr. Parr also gives a comprehensive update on MacroSolve's operations and marketing efforts.
To listen to the link, visit www.stockguru.com/2010/11/mcve-interview.
November 16 - MacroSolve Raises $775,000 in Bridge Funding to Support Patent Monetization Strategy
Fund Raise Oversubscribed by $275,000
MacroSolve, Inc. (OTCBB: MCVE), a leading provider of mobile technologies, apps and solutions, announced that it has closed on a convertible debenture for bridge funding in the amount of $775,000. Funding sources included some of the company's current investors as well as select institutional investors. The bridge funding was originally set at $500,000. Greater than expected investor interest among a few investors, however, led to an oversubscription of $275,000, for a total raise of $775,000.
Funds will be used to support the company's monetization strategy for its newly issued mobile app patent, as well as for general operating expenses.
MacroSolve President and CEO, Clint Parr, commented, "Clearly the market, including both equity and debt investors, has reacted quite enthusiastically to the award of our patent. We are pleased to accept further investment from our current, very loyal shareholders, as well as from select institutional investors who are new investors with MacroSolve. With these funds, we will further accelerate our patent monetization timeline."
As previously announced on October 28, MacroSolve was awarded a landmark mobile app patent, U.S. Patent Number 7,822,816.
GRYPHON GOLD CORPORATION (OTCBB: GYPH)
Detailed Quote: http://www.otcpicks.com/quotes/GYPH.php
Company Profile: http://otcpicks.com/Gryphon-Gold-Corp.htm
Gryphon Gold is a Nevada-focused gold exploration and development company. Its principal gold resource, the 1.4 million ounce (measured and indicated) and 1.1 million ounce (inferred) Borealis deposit, is located in the Walker Lane gold belt of western Nevada. The Borealis gold system is one of the largest known volcanic-hosted high-sulphidation gold bearing mineralized systems in Nevada.
November 5 - Gryphon Gold Corporation Featured On MoneyTV
Gryphon Gold Corporation (OTCBB: GYPH) CEO John Key announced the company's schedule to begin production on MoneyTV with Donald Baillargeon. MoneyTV debuted in 1996 and is broadcast internationally in more than 170 million TV households in over 60 countries.
A complete menu of TV listings is available at the MoneyTV web site.
INFRAX SYSTEMS INCORPORATED (OTC: IFXY)
"Up 5.26% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/IFXY.php
Company Profile: http://www.otcpicks.com/Infrax-Systems.htm
Infrax Systems offers a series of interrelated operational management, communications, and grid security related products and services known as Secure Intelligent Energy Platform (SIEP). Our products enable a comprehensive and unified solution for communications and applications management of the Smart Grid. SIEP™ incorporates a wide array of communications, security, device and data management tools for Smart Grid applications such as advanced metering solutions and grid optimization. SIEP platform creates a unified solution to securely manage Advanced Metering Infrastructure (AMI) and distribution automation. Infrax's secure smart grid platform incorporates a communications transport and management system, (Grid Mesh™), device and data security management, and ultimately secures intelligent endpoint devices (SIED). The secure management of the "last mile" backhaul will be necessary for utilities to implement Smart Grid applications including AMI, real-time pricing, Demand Side Management (DSM), Distribution Monitoring and Automation. When combined, these applications can offer economic, operational and environmental benefits for utilities, and ultimately the utility's customers.
November 10 - Infrax Systems to Unveil Secure Metering Solution at DistribuTech Conference
Revolutionary Under Glass Solution to Provide Secure Encrypted Data Collection and Transmission for AMI and AMR Meters
Infrax Systems, Inc. (OTCBB: IFXY), a global provider of unified Smart Grid-related products and services for the Energy and Utility industries, announced today that it will unveil its Secure Network Interface Card (SNIC) at the DistribuTech Conference and Exhibition to be held in San Diego, California February 1-3, 2011.
The SNIC is the latest component announced for Infrax's Secure Intelligent Energy Platform. This next generation universal host interface board is an "under the glass" solution designed for use in any standards-based meter (Electric, Water, Gas). Based on a multiple processor design, the SNIC provides military grade encryption and wireless interface modules for HAN and WAN applications. "By retrofitting existing AMR meters with the SNIC, utilities can leverage their existing asset, bring the sophistication of Advanced Metering Infrastructure and protect their investment," said John Verghese, Vice President of Product Development for Infrax. "The AMI functionality of the SNIC, without requiring the replacement of the existing AMR meters, provides a significant operational and financial benefit to Utilities."
Infrax chose the DistribuTech Conference to debut the SNIC as it is the utility industry's leading smart grid conference and exposition, covering automation and control systems, energy efficiency, demand response, renewable energy integration, advanced metering, T&D system operation and reliability, power delivery equipment and water utility technology.
"We believe that there are significant industry drivers requiring security to be a key component of any integrated Smart Grid platform. A platform which includes secure two way communications, data and device management, and threat detection will facilitate the migration to the next generation digital distribution grid," stated Paul J. Aiello, CEO of Infrax. "Our Secure Intelligent Energy Platform, when deployed in conjunction with the Secure Network Interface Card (SNIC) will provide the robust security solutions necessary to solve the problems that electric utilities and their customers face and meet the mandates of governments world-wide."
STOCKS TO WATCH
LIGATT SECURITY INTERNATIONAL (OTC: LGTT)
"Up 200.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/LGTT.php
LIGATT Security International is the nation's premier hi-tech security companies and is recognized as a leader in computer security, CCTV surveillance and cyber-crime investigation. It is a publicly traded company whose mission is to be the nation's leading provider of hi-tech crime investigations, by protecting their clients against Black Hat Hacking one CPU at a time.
September 8 - LIGATT Security Launches Affiliate Program and Starts Nationwide Television Campaign
LIGATT Security International Inc. (OTC: LGTT), a cyber security company, announced that the company has signed up with Plimus, the premier online affiliate service, and the most innovative and effective business platform in the world for online sales, to enhance revenue of LIGATT Security's products and services, including LocatePC and AmIHackerProof.
Utilizing Plimus will permit anyone to become an affiliate of the company, allowing them to sell LIGATT's products and services at their own websites. Affiliates will be able to add links on their websites to almost any of LIGATT's products and services, making it easier for their customers to click a link to purchase online. In addition to the affiliate's receiving discounts on selling LIGATT products, they also will receive residuals between 20%-40% when customers renew their services with LIGATT.
Becoming an affiliate of Plimus is fast, easy, has many benefits, and does not require a person to use a credits card, or Pay Pal.
"Using Plimus is a great stepping stone toward marketing our company's products," comments Gregory Evans, President and CEO of LIGATT Security. "This is a powerful marketing tool to help drive high visibility and revenue to the company."
With cyber crime generating more money than all drug trafficking in the world, according to Symantec earlier this year, there is a great potential for almost anyone to help fight against cyber crime, while making a profit doing it. This fact has led LIGATT to create a 30 minute informational to run nationwide promoting Plimus as the company's Affiliate program. The program will start in October, also National Cyber Security Awareness Month.
CYTOGENIX INCORPORATED (OTC: CYGX)
"Up 39.44% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/CYGX.php
CytoGenix is a biotechnology company developing biotechnology derived products for vaccines and therapeutic applications for human, agricultural and veterinary markets. As such, CytoGenix has access to a broad range of biological expertise that can be leveraged to identify, evaluate, develop and commercialize biologically based technologies for energy production.
October 20 - CytoGenix, Inc. Appoints Campbell Murray, MD to its Advisory Board
Cytogenix, Inc. (OTC: CYGX) announced that it has appointed Campbell Murray, MD to its Board of Advisors.
Campbell Murray, MD: Campbell currently serves as a director on the boards of Aileron Therapeutics, Akebia Therapeutics, Alios BioPharma, BioRelix, Euthymics Bioscience, ProCertus BioPharm and Tokai Pharmaceuticals and as an observer on the board of MicroCHIPS and Tepha. Campbell, is a New Zealand trained physician, Kauffman Fellow and holds an MBA from Harvard Business School and an MPP (public policy) from the John F. Kennedy School of Government where he was a Knox Fellow and Rotary Ambassadorial Scholar.
Lex Cowsert, CEO of CytoGenix stated, “Having Dr. Murray join the CytoGenix Board of Advisors adds significant benefit and enhances our extremely talented team of Advisors, who all embrace his admission to the Board of Advisors. Campbell's vast experience is a tremendous asset which will help CytoGenix advance its product line on a global platform, which can only add to shareholder value.”
SOLARBROOK WATER & POWER CORPORATION (OTC: SLRW)
"Up 17.14% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/SLRW.php
SolarBrook Water and Power Corporation, headquartered in Raleigh, North Carolina, maintains a core focus of seeking out synergistic acquisitions that will provide capital appreciation and income for its portfolio companies. The mission of Solarbrook is to acquire and develop innovative technologies and businesses that will improve the quality of water throughout the world by means of detection, treatment and removal of contaminants. Solarbrook also seeks to provide integrated clean power alternatives for remote and off-grid systems, further expanding market potential.
November 9 - Solarbrook Water & Power Provides a Progress Update on Several Current Developments
Solarbrook Water and Power Corporation (OTC: SLRW) provides an update on several key developments currently in progress.
The company has completed its financials for fiscal year end 2009 and the first quarter of 2010. The financials have been submitted to Solarbrook's legal counsel as part of its review process and will be published on www.pinksheets.com shortly. Upon submission, Solarbrook will be current in its financial filings. George Moore, CEO of Solarbrook Water and Power Corporation, commented, "Being current in our filings is of utmost importance to our company. We are committed to full disclosure and transparency for our shareholders and prospective investors. Having the confidence of our valued shareholders is a top priority for our company and we expect to maintain our current status and continue to move up rapidly through the OTC Market tiers."
Solarbrook Water & Power updated the status of its current joint venture with industry leader, Matheson Tri-Gas. The companies are currently working together on two large industrial proposals. One of them is in Texas and the other is located in North Carolina. Solarbrook expects to have its first Matheson contract by the end of the month. "Our business relationship with Matheson is moving along as well as we anticipated it would," stated George Moore. "We are excited over the opportunity to work together with a company of Matheson Tri-Gas' stature. In just a short period of time we have seen positive results from this relationship and I am sure that this will prove to be mutually beneficial for years to come."
The company also announced that it has completed the upgrade installation on one system in Wake County, NC, and is currently working on the installation of a second system in Wake County. The second system should be completed within the next two weeks.
The final design for Solarbrook Water & Power's pitcher and filter system has received final approval and is scheduled to go to market in China this quarter. Solarbrook is also involved in discussions with the NSF to have the system tested and approved for sale in the U.S. markets.
Mr. Moore commented further, "Our company has achieved important milestones on several fronts this year and has experienced significant growth. We expect to carry our current momentum into 2011 and we will continue to report our progress as developments unfold."
ENERGY 1 CORPORATION (OTC: EGOC)
"Up 118.18% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/EGOC.php
Energy 1 Corporation is a U.S.-based Energy Research and Development Corporation, which is developing energy and emission solutions for the post carbon economy for the transportation industry.
November 1 - Energy 1 Offers Corporate Update for October
Energy 1 Corp. (OTC: EGOC) announced its corporate update for October.
Wider Patent Application: E1 announced further development of its new patent pending from Vortex IP in September. It was also revealed that the wider application means a larger target market can now be addressed, namely the small to medium sized diesel truck and bus market. Management believes that as the price of fuel continues to increase over the next 18 to 24 months the small diesel engine market will also see continued growth at the expense of the gasoline engine market for the both trucks and cars. This will naturally also see a wider market potential for the Company's emission and fuel saving devices applications at E1.
Manufacture selected: Nieder Fabricating Solutions out of St. Louis was selected by the company as the Company's first choice for manufacturing the ExhausTek and IonTek emission and fuel saving devices. The Company's President Dean Steiger has been working closely with the NFS team and on a manufacture budget cost template. Mr. Steiger is pleased to say, "We are meeting and in some instances besting the Company's cost budget estimates which is very encouraging on a going forward basis."
Financing: The next phase of the company's development is procuring the necessary short and long-term financing to enact the Company's business plan. "We are currently pursing all financing options to facilitate our ability to grew," stated Raymond T. Brown II, Chairman of Energy 1.
Emission Laws widening: In early October the Canadian Environment Minister the Right Honorable Jim Prentice announced that the Canadian Emission Laws and Standards would follow the example set by the U.S. Government and in particular the California standards. While only 1/10th the size of the total U.S. market this is a significant signal to the industry that a wider application of emission standards is now shared by two of the world's largest economies in both dollar and geographic terms.
"We will let you know as things continue to develop at E1 your 'one stop for Emission and Fuel saving solutions,'" stated Raymond T. Brown II, Chairman of Energy 1 Corp.
HALL OF FAME BEVERAGES INCORPORATED (OTC: HFBG)
"Up 25.00% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/HFBG.php
Hall of Fame Beverages, Inc. is an innovative new lifestyle company dedicated to building long-term success both through the creation of a unique and recognizable brand name, and through the integration of commercial success with social awareness. Convinced that "success" in business has long been too narrowly defined, Hall of Fame Beverages was founded by a group of visionary beverage industry executives who shared a common goal of leveraging the power of commerce in a way that was consistent with their desire to foster greater inclusion in the business world. The team of seasoned industry executives have set out to become one of the leaders in the beverage industry through developing, distributing and marketing their signature product lines.
August 31 - Hall of Fame Beverages Expands Distribution and Animates Grand Ma Ma
Hall of Fame Beverages, Inc. (OTC: HFBG) CEO Steve Hendricks announces the shipment of Grand Ma Ma's Sweet Southern Tea is on its way to New York. Elmira Distribution in Elmira, New York will soon be receiving two container trucks of the company's product. Each container carries 2100 cases of tea.
In addition, Hendricks announces Specialty Foods Group in Long Island, New York, will be responsible for servicing all of Hall of Fame's products in 7-Eleven stores, King Kullen Supermarkets, Waldbaums Supermarkets, Safeway Stores, and Key Foods stores among other accounts on Long Island. Specialty Foods Group will be receiving more than 2100 cases of the company's product.
Steve Hendricks and Louis Restivo are feverishly placing the product in the distribution network between Philadelphia and Pittsburgh, Pennsylvania, including the Scranton, Wilkes-Barre, Altoona, and Erie markets. The company will be using L A May Distributing in Central Pennsylvania and Larry Myers will be receiving more than 2100 cases of the product to put on shelves immediately upon arrival.
Hendricks and Restivo are developing the entire New England area, New Jersey and the Mid-Atlantic states. Hendricks says he's ready to get products on the shelves immediately: "We are working hard to put this product in every state, and I am structuring this company to go national." Restivo added, "I will be there every step of the way, and we will brand this product nationally."
Both Hendricks and Restivo said the demand for Grand Ma Ma's Sweet Southern Tea has pushed the company to make the decision that the tea will be the company's main focus in the months to come. A new flavor of tea, Sweet Summer Peach, is already being readied for production. More than 300,000 bottles of the Sweet Summer Peach, an all natural, black tea, have been ordered and are ready for production in the company's second production run of the tea brands.
Atomic Dogg Super Soda will be produced when the company meets the demand for the tea. Former NBA player, and the man behind the character Grand Ma Ma, Larry Johnson said, "The tea is in demand right now and it's a ready-made marketing campaign, so it makes sense to focus on our strength right now."
Johnson and company executives are currently meeting in Las Vegas, Nevada, to finalize a deal with a major casino chain that has casinos in Las Vegas and many other areas around the country to carry the sweet tea products. Pricing and a marketing campaign are being negotiated before the casino takes the product. Johnson said, "Grand Ma Ma's Sweet Southern Tea is a natural fit in Las Vegas. This is where I got my start, and I came back here to get my degree and stayed, so I would love to make this work in Vegas."
The company also announces that it has paid Slappy Studios to put together an animated television commercial campaign featuring Grand Ma Ma. Slappy Studios worked on the Transformer films, and will be animating Grand Ma Ma in a 30-second television commercial that will air on ESPN, MTV, and BET, among other major networks. The studio has developed the animated commercial and is currently working to finish the project. Larry Johnson will be in Los Angeles, California, later this week to do the voice work for his Grand Ma Ma character. Johnson has done work with Coca-Cola, McDonald's, And1, Converse and many other brands and helped to generate hundreds of millions of dollars in sales revenue.
MEDEFILE INTERNATIONAL INCORPORATED (OTCBB: MDFI)
"Up 15.79% in morning trading"
Detailed Quote: http://www.otcpicks.com/quotes/MDFI.php
Medefile International, Inc. engages in the development and sale of systems for gathering, digitizing, storing, and distributing information for the healthcare field. The company's products include MedeFile, a b2b and b2c subscription service that is designed to create a "cradle-to-grave" longitudinal record by retrieving and consolidating copies of their medical records; Digital Health Profile, which provides a summary of the patient's healthcare history that assists healthcare providers in understanding the patient's course of medical treatment; MedeDrive, an external USB drive, which stores a patient's emergency medical information and their MedeFile that can be viewed on a personal computer; and MedeVault designed to serve as an electronic data and document repository. Its product portfolio also comprises Medefile Clinical Information Systems, a b2b professional consulting service; OmniScan, which is designed to enable medical facilities to convert the paper based medical records into a digital format; and SecurMed that serves as an authentication process, which protects against any information being viewed by unauthorized persons. The company was incorporated in 1997 and is based in Cedar Knolls, New Jersey.
November 16 - MedeFile Announces Record Revenues
MedeFile International, Inc. (OTCBB: MDFI), a leader in portable electronic medical records management, announced today that the company posted unprecedented record revenues for the third quarter 2010. Revenues and memberships are at an all time high. Year over year, MedeFile realized an increase in revenues of over 750%. MedeFile also realized an increase of approximately 950% revenue growth quarter over quarter. In the third quarter of 2010 alone, MedeFile's revenue was nearly triple the annual sales for all of 2009.
Kevin Hauser, Chairman and Chief Executive Officer of MedeFile International, Inc. commented, "We are extremely pleased to report significantly improved upward momentum in our business throughout the third quarter, with record highs in revenues and in quantity of memberships sold. Our performance this quarter has been favorably impacted by several new marketing initiatives that were launched in July 2010.
We continue to expand the business in the United States and are also very excited to be discussing numerous prospects overseas. We will continue to explore each and every possibility that we believe will increase revenue, client base and ultimately shareholder value. As such, we are looking forward to offering our system and services in a variety of translated languages in the fourth quarter 2010. We believe this will enable us to take hold of a lucrative market both in the United States and abroad.
"It is very rewarding to have reported record revenues in what was my first quarter as CEO of MedeFile. We are very optimistic that MedeFile's team and existing infrastructure position us to take advantage of upcoming opportunities to increase our market share and continue to show consistent future growth."