Medirect Latino (CE) (USOTC:MLTO)
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MEDirect Latino Inc. (OTC:MLTO) -
http://www.medirectlatino.org -, the leading provider of medical
products focused exclusively on chronic diseases afflicting the
Hispanic community in the United States and Puerto Rico, today
announced the retaining of the Law Firm of Melissa K. Rice, P.A. to
file the Company's Form 10-SB Registration, making the Company fully
reporting with the Securities Exchange Commission (SEC). Such filing
is to be made with the SEC by the end of June 2005. The Law Firm of
Melissa K. Rice, P.A. concentrates in the areas of the representation
of small to medium sized companies, and specializes in regulatory
compliance with agencies, such as the SEC.
MEDirect Latino is currently trading on the Pink Sheets, under the
symbol MLTO. Upon the effective date of the Form 10-SB filing, the
Company will attain Section 12 (g) reporting status with the SEC,
under the Exchange Act of 1934, which will allow for broader market
participation in the Company's shares by institutional investors. It
is contemplated that reporting status will be achieved no later than
September 2005, with the Company then attaining a listing on the
Electronic Bulletin Board, which is a regulated market for small
reporting companies. Upon attaining reporting status, the Company will
also file a listing application with the NASD to be listed on the
NASDAQ Stock Exchange. It is anticipated by the management of MEDirect
that a listing on NASDAQ will be attained no later than the first
quarter of 2006.
"Revenues developed as a result of the Company's successful
expansion of operations in Puerto Rico, coupled with the national
television advertising launch of our products and services in July,
plus the increasing broker/dealer and institutional interest in MLTO,
are the key drivers in MEDirect Latino's Form 10-SB filing.
Corporately, we are months ahead of our 2005 strategic business plan,"
stated MEDirect Latino CEO and Co-Chairman, Raymond J. Talarico.
Further, stated Mr. Talarico, "This registration will allow for deeper
institutional investment in MLTO and a lower cost of capital to
sustain our national launch of our products and services which will
begin in July, 2005. Despite initially listing on the Pink Sheets, we
have full GAAP audits for our last two fiscal years, and we maintain
all corporate governance requirements for a listing on NASDAQ.
Therefore our transition to reporting status should be seamless."
A free independent corporate analysis of MEDirect Latino Inc.,
which includes information on the Company's business model, products,
industry, valuation, management, and risks, and reaches the conclusion
of an initial short term price target of $8 per share is available at
http://www.wallstreetresources.net/pdf/fc/MLTO.pdf
MEDirect Latino completed an investor conference call on Tuesday,
May 17, 2005. To hear a recording of the call:
-0-
*T
Call 1-800-977-8002 in the United States or Canada or;
Call 1-404-920-6650 in the Atlanta Area or Internationally
Pin Code: Press the star key then 098756
*T
The Company will be holding another investor call on Tuesday, June
28th where management will discuss the results of its expanded
operations in Puerto Rico, its national launch of its products and
services in July, 2005, and several joint ventures and private label
manufacturing agreements, which will expand the products offered by
the Company to the Hispanic marketplace.
About MEDirect Latino:
MEDirect Latino (OTC:MLTO), http://www.medirectlatino.org, is a
rapidly growing, uniquely positioned provider of direct-to-consumer
Medicare reimbursed medical products focused exclusively on chronic
diseases afflicting the Hispanic community in the United States and
Puerto Rico. MEDirect is the only company positioned to serve the U.S.
Hispanic healthcare market as a direct-to-consumer Medicare provider
on an authentically national level. The Company's current focus is the
distribution of products for the treatment of Type II diabetes
specifically because of its disproportionate impact and increasing
diagnosis rate within the US Hispanic population, noting an incidence
of 120% higher than among non-Hispanic whites. Type II diabetes was
also targeted because of its unique status within the Medicare
reimbursement regime and because of its high degree of correlation to
other chronic conditions such as high blood pressure and heart
disease. These other conditions represent considerable future market
potential that will allow MEDirect to efficiently scale its model by
leveraging its existing client base and infrastructure.
The current Hispanic market for MEDirect's products is
conservatively estimated at approximately $650MM in the continental
United States. The size of the opportunity is understated by such
figures as an estimated 925,000 of the over 3.1 million Hispanics in
the United States over 65 eligible to receive Medicare benefits are
currently collecting these benefits with an estimate that over 1.4
million of those Medicare-eligible Hispanics have diabetes (implying a
potential continental U.S. market for MEDirect products of
approximately $1 billion)
Forward Looking Statements:
Statements about the Company's future expectations, including
future revenues and earnings, and all other statements in this press
release other than historical facts are "forward-looking statements"
within the meaning of section 27A of the Securities Act of 1933,
Section 21E of the Securities Exchange Act of 1934, and as the term is
defined in the Private Litigation Reform Act of 1995. The Company's
actual results could differ materially from expected results. The
Company undertakes no obligation to update forward-looking statements
to reflect subsequently occurring events or circumstances. Should
events occur which materially affect any comments made within this
press release; the Company will appropriately inform the public.