Business
Union Dental Reports 2nd Quarter Revenues for 2014
Union Dental Reports 2nd Quarter Revenues for 2014.
About this update from Xcelerate Inc.
[{"type":"text","content":"\nUnion Dental Reports 2nd Quarter Revenues for 2014 \n\nUnion Dental Reports 2nd Quarter Revenues for 2014\n\n\n CORAL SPRINGS, FL--(Marketwired - August 14, 2014) - Union Dental Holdings, Inc. (PINKSHEETS: UDHI) -- http://www.uniondental.com/ir -- a Company that operates and manages a network of dentists throughout the United States for union members -- announced the financial results for the quarter ending June 30, 2014. In the Consolidated Statement of Earnings the Company reported a loss of $65,317 as income from operations on revenues of $1,025,756 as compared to a loss of $14,824 as income from operations on revenues of $1,009,302 during the same period in 2013. The progress on the Joint Venture Agreements with Drinkable Air and the introduction of DA's products into new areas of business required some additional expenditure compared to last year. We believe these investments will begin to increase shareholder value and increase revenues shortly. We are transitioning from a strictly dental facility and network operator that generates $4.2 million in revenue annually to a product-based company within our industry. We believe the foundation we spent years developing and the contacts in the industry will enhance this growth.Dr. George Green, President and CEO, stated: \"Our revenues were higher for the quarter as compared to last year, but our loss was a little bit bigger as the cost of goods was higher and we had several expenditures related to our JV agreement with Drinkable Air. As noted in one of our latest press releases, we have been notified that we will receive our patent in Canada for the Green Ozonator and all shareholders will benefit from this accomplishment.\"About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp. Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with \"areas of exclusivity\" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants - Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange f...