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XCRT Xcelerate Inc (QB)

0.025
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Xcelerate Inc (QB) USOTC:XCRT OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.025 0.024 0.025 0.025 0.025 0.025 40,308 13:14:58

Union Dental Announces First Quarter Revenues and Profits

02/06/2005 1:00pm

Business Wire


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Union Dental Holdings, Inc. (OTCBB:UDHI) announced today the filing of its 10-QSB with the Securities & Exchange Commission which included the financial results for the quarter ending March 31, 2005. In the consolidated statement of earnings UDHI reported quarterly income of $88,560 on revenues of $513,637. Dr. George D. Green, President and C.E.O. commented: "I am extremely pleased with the first quarter results and with the recent acquisition of Dental Visions and their approximate 750 patient base we anticipate annualized revenues to be even higher." UDC has been providing a Dental Network for the Communications Worker of America (CWA) local unions in Florida since its inception and has expanded the concept and Dental Network throughout District 3 which along with Florida includes Alabama, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee as well as across the southern United States and California. The communications Workers of America union members represent workers who are employed by BellSouth (NYSE:BLS); Qwest (NYSE:Q) AT&T (NYSE:T); Lucent (NYSE:LU); General Electric (NYSE:GE); Verizon (NYSE:VZ); SBC Communications (NYSE:SBC), Avaya (NYSE:AV) and many other varied occupational fields such as public maintenance, food service, flight attendants and law enforcement. About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp. - Direct Dental Services and Union Dental Corp. provide dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America ("CWA") and International Brotherhood of Electrical Workers (IBEW) Dental Networks. Union Dental Corp. receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. DDS/UDC has contracts with CWA & IBEW Local Unions to provide a dental network utilizing the members existing insurance policy. The dentists in the Dental Network provide services in the areas for union members, as well as existing patients in exchange for an annual management fee. The network of dentists accepts payment from union insurance plans for services rendered as payment in full, with certain procedures requiring a small out-of-pocket co-payment from the union member patient. In addition, Union Dental Corp. acquired the assets of an existing dental practice (excluding the patient list) and manages the 17 year profitable dental practice. UDC and DDS are wholly owned subsidiaries of Union Dental Holdings, Inc. Website: http://www.uniondental.com For Investor Relations information, please call: 1-800-288-7499 or e-mail: info@dpmartin.com. "Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

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