PLANTATION, Fla., May 3, 2006 (PRIMEZONE) -- MEDirect Latino Inc. (Pink Sheets:MLTO) (www.medirectlatino.org), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced that its Form 10 was declared effective by the SEC on April 8th, 2006, and the company is now a fully reporting company with the SEC. The Company will commence regular quarterly financial filings with the filing of its 10Q for its fiscal third quarter, which ended on March 31, 2006.
In an effort to upgrade publicly traded status, the Company is filing a Form 15c-2(11) with the NASD within the next 10 days in order to qualify for a listing on the Electronic Bulletin Board. MEDirect Latino (MLTO) expects to achieve a listing on that exchange within the next few weeks. The Company also contemplates filing for a listing on NASDAQ within the next month, since it presently meets the listing requirements of that exchange. Although when and if a listing will occur cannot be determined, the Company expects to achieve such a listing in the next three to four months.
Ms. Debra Towsley, President, MEDirect Latino stated, "When we began this journey, we made a commitment to our shareholders to become a fully reporting company during our 2006 fiscal year, and to upgrade our trading status beyond our listing on the Pink Sheets. We have now honored that commitment and anticipate a listing on the Bulletin Board within the next couple of weeks. We also are very excited about our decision to file for a listing on NASDAQ, since we believe once we obtain such a listing, we will be covered by several Wall Street analysts, and attract institutional investors to our stock. The two steps should greatly increase our presence in the market, as well as liquidity for our shareholders."
ABOUT MEDIRECT LATINO:
MEDirect Latino (Pink Sheets:MLTO) (www.medirectlatino.org) is the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community. MEDirect Latino is rapidly growing and uniquely positioned to service the Hispanic community in the United States and Puerto Rico. MEDirect is the only company currently 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 due to the disproportionate impact and increasing diagnosis rate of diabetes within the U.S. Hispanic population, noting an incidence of 120% higher than among non-Hispanic whites. Type II diabetes was targeted because of its unique status within the Medicare reimbursement regime and due to its high degree of correlation to other chronic conditions such as high blood pressure and heart disease. These and other conditions represent considerable future market potential, MEDirect will scale its model by leveraging its existing client base and infrastructure in introducing new products and services to existing customers as they are identified.
The MEDirect Latino Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1873
Safe Harbor Disclosure:
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.