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YesDTC CEO Increases Stake in Medical Alarm Holdings to Over 50 Million Shares -- Approximately 16% of Shares Outstanding(March 17, 2011)
PLYMOUTH MEETING, Pa., March 17, 2011 (GLOBE NEWSWIRE) -- Medical Alarm Concepts Holding, Inc. (OTCBB:MDHI), the manufacturer of the MediPendant™, the first fully-monitored medical alarm system that allows you to speak and listen directly through the pendant, today announced that the CEO of YesDTC Holdings, Inc. (OTCBB:YESD) Joseph Noel, has acquired over a fifty million share stake in the Company. This equals approximately 16% of the outstanding shares. The price paid for these restricted shares was considerably above the current trading price for MDHI shares. Mr. Noel plans to file the required documentation with the Securities & Exchange Commission (SEC) over the next few days.
"The reason for my investment in Medical Alarm Holdings is simple. I am confident this Company has the best technology within this market sector," commented Mr. Noel. "The entrenched competitor is currently producing tens of millions of dollars per month with what we believe to be a vastly inferior product. Our recent test marketing is showing that there is strong demand for the patented two-way, speak through the pendant technology being marketed by the joint venture between Medical Alarm Holdings and YesDTC. The customers being gained by the joint venture are likely to represent a significant asset in the future if current rates of growth are maintained. I view MDHI shares as a real bargain considering that the 10Q filed with the SEC yesterday lists only approximately 317 million shares, which reflects a market capitalization of only just under $1.3 million. Considering the test results that were recently announced and the vast opportunity in front of the Company, I certainly plan to invest considerably more into Medical Alarm Concepts if the current market valuation range persists. I believe this may become one of my most successful investments."
Howard Teicher, CEO of Medical Alarm Holdings, commented, "We are extremely encouraged by our recent infomercial test results. Our revenue generated per dollar spent was very robust as a result of bringing the call center sales function in house. We now feel we have the correct formula in place to turn the corner toward long-term success. The personal medical alarm segment is very large and with our unique product we believe we can be highly successful. Mr. Noel's efforts to finance our Company operations are greatly appreciated. We look forward to continuing our relationship with YesDTC Holdings and Mr. Noel."
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. ("MAC") develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. We have built our reputation in the personal emergency response system (PERS) and medical alert industry. With patented technology and state-of-the-art services, MAC is uniquely positioned to mobilize the right people, skills and alliances to ensure success and client satisfaction. Our design and support philosophy emphasizes industry best practices, while providing polished and savvy solutions. MAC's latest innovation is the development of its two-way voice speakerphone pendant technology. For more information, please visit our website at http://www.medicalalarmconcepts.com.
About YesDTC Holdings, Inc.
YesDTC Holdings, Inc. is a direct-to-consumer marketing company specializing in direct response television (DRTV), internet and retail marketing programs. The Company brings a unique set of skills to this market space. YesDTC combines both the creative talents and financial acumen needed to create a total package for direct-to-consumer marketing programs. Importantly, the Company also maintains a strategic partnership with Schulberg Media Works (SMW), a pioneering media production firm in the direct-to-consumer space with a highly acclaimed list of successful client campaigns and product infomercials. SMW's track record is impressive, with nearly $1.0 billion in revenues generated and a high profile list of industry awards and recognitions. Specifically, SMW campaigns include Tempur-Pedic, Guthy-Renker, Sony, 24-Hour Fitness, Rhino Records, HarperCollins and PureSleep, among many others. More information on YesDTC Holdings can be found at www.yesdtc.com and additional information on Schulberg Media Works can be found at www.smw.tv.
Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
CONTACT: Medical Alarm Concepts Holdings, Inc.
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