MISSISSAUGA, ON, Aug. 22 /CNW/ - MedX Health Corp., a leading North American developer and manufacturer of low level laser medical devices, including dental, rehabilitation and wound care products today announced its results for the three months ended June 30, 2008.
Revenue for the three months ended June 30, 2008 was $259,235 compared to $344,885 for the three months ended June 30, 2007 a 25% decrease versus the same period last year.
MedX incurred a net loss of $817,465 in Q2 2008 compared to a net loss of $495,952 for the same period in the prior year.
"Moving forward, we remain on track in our commitment to expand our products and services internationally via new distribution channels, novel product technology, strategic partnerships and strong IP programs. Our recent accomplishments are testaments to this strategic shift," said Steven Guillen, chief executive officer and president of MedX Health.
Recent Company Achievements:
- Filed Provisional Patent Application with the U.S. Patent Office for
Photobandage(TM) (May 20, 2008)
- Low-level laser wound healing study was published in the
International Wound Journal and presented at the World Union of Wound
Healing Societies Congress in June in Toronto (June 5, 2008)
- Announced promotion of Steve Guillen to Chief Executive Officer and
President (June 27, 2008)
- Announced strategic partnership with Technology4Medicie to become
Medx Health's exclusive U.S. dental distributor for Oralase(TM)
(July 15, 2008)
- Closed non-brokered private placement of 4,300,000 common shares for
CAD$1,075,000 (August 5, 2008)
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Canadian $ Q2 2008 Q2 2007
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Revenue 259,235 344,885
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Gross Margin % 88% 75%
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Income (Loss) from continued operations (823,190) (496,070)
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Income (Loss) from discontinued operations 5,725 118
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Net Income (Loss) for period (817,465) (495,952)
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Weighted Average no. of shares outstanding-basic
and diluted 22,222,776 15,043,937
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Loss per Common Share-basic and diluted ($0.04) ($0.03)
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About MedX Health Corp.
MedX is a leading North American developer and manufacturer of low level laser medical devices, including dental, rehabilitation and wound care products. MedX is the world's only company focusing on developing and delivering a broad cross-section of technologies and products involved in healing using light therapy. MedX is committed to advocating for and bringing the non-invasive, drug-free healing nature of light to people seeking relief from pain and other physical ailments.
MedX's strategy is to build upon its success in bringing relief of symptoms in a non-pharmacologic manner in the rehabilitation market through key partnerships, acquisitions, strong patent protection as well as developing and commercializing advanced products in the dental and wound-care markets that will position the company to increase revenue. In addition, MedX plans to accelerate the development of a new product aimed at the rapidly-growing wound care market: its "Photobandage", a bandage technology that allows a wound to be bathed in light, designed to enhance the healing process. The Company intends to license this new technology to one or more major wound care companies for further development of marketing and sales.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information may include statements regarding the Company's future plans, objectives, performance, growth, profits, operating expenses or its underlying assumptions. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of MedX to be materially different from those expressed or implied by such forward-looking information, including uncertainty of successful development of new products, uncertainty of successful manufacturing or marketing of products, uncertainty of commercial acceptance of products, uncertainty concerning governmental regulation, dependency on key employees and relationships, rapid technological changes, foreign currency fluctuations. MedX does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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