MedX Health Corporation Issues Shares for Debt
Sets Annual and Special Meeting of Shareholders Date
MISSISSAUGA, ON, Aug. 30 /CNW/ - MedX Health Corp., (TSXV.MDX) a
global leader in drug free, non-invasive low level laser and light
therapy for tissue repair and pain relief, today announced revenue for
the quarter ended June 30, 2010 was $79,427, a 25.5% per cent decrease
from the quarter ended June 30, 2009. MedX incurred a loss for the
quarter of $279,390 or $0.01 per share compared to a loss of $538,971 or
$0.02 per share for the same period in the prior year. Revenue for the
first 6 months of 2010 was $245,466, a 46.4 per cent decrease over the
same period in 2009.
"We are continuing to rebuild our distribution base. The addition of the
RJ Laser products are beginning to improve our revenues which will allow
us to continue to expand our marketing initiatives, and we are seeking
funding to accelerate this process, says Steve Guillen, president &
CEO. "Additionally, we recently announced a Letter of Intent (LOI) with
Medical Marketing Berlin GmbH (MMB) for the exclusive North American
marketing rights to the H'andy sana 211, a touch screen cell phone with
an integrated ECG, a drug reminder and a 'Health Suite' in which blood
glucose, cholesterol and blood pressure can be managed, and this will
accelerate our revenue growth and improve our access to capital over the
coming year," said Mr. Guillen.
MedX Issues Shares for Debt
MedX has also issued 5,668,307 million shares in settlement of
$566,830.70 in obligations to several parties. These shares are subject
to a hold period expiring December 17, 2010. The number of fully diluted
MedX Health Corp. shares outstanding is now 34,219,834 million.
MedX Shareholders Meeting Date
MedX further announced that the Annual and Special Meeting of
Shareholders will be on Thursday, September 30, 2010, at 4 p.m. at The
National Club, located at 303 Bay Street, Toronto, Ontario.
About MedX Health Corp.
MedX is a leading North American developer and manufacturer of low level
laser and light medical devices for the drug free and non-invasive
treatment of tissue damage and pain in numerous medical settings
including dental, rehabilitation and wound care. 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, the bringing of 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
conditions 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.
Brand products are US FDA approved, Health Canada cleared, and CE Marked
and are produced in an ISO 9001 and 13485 certified manufacturing and
testing facility. For a complete profile of MedX Health Corp. and its
products visit www.medXhealth.com
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
SOURCE MedX Health Corp.
For further information: For further information:
President and Chief Executive Officer
MedX Health Corp.
Phone: (905) 670-4428