Contact Information: Contact: digiMedical Solutions, Inc. Investor Relations 214-722-3029 ir@digimedical.com
digiMedical Solutions, Inc. Announces Pharmaceutical Inventory Agreement With Crossroads Financial to Increase Working Capital and Support $10 Million Revenue Goal
Recent CEO Interview Now Available on Wallst.net
| Source: digiMedical Solutions, Inc.
COLLEYVILLE, TX--(Marketwire - February 28, 2008) - digiMedical Solutions, Inc. (PINKSHEETS : DGMS ) today announced entering into an agreement with Crossroads Financial
to increase the company's working capital by being able to borrow against
the company's pharmaceutical inventory. Currently, digiMedical's pharmacy
chain has hundreds of thousands of dollars in inventory reserves. This
inventory can now be leveraged to add working capital to increase company
sales. Under this agreement, digiMedical will receive 50% of the value of
its current inventory. For example, a $1,000,000 inventory means $500,000
for reinvestment.
David Lee, CEO of digiMedical, stated, "This agreement reflects the
company's maturity and is a tool to help us to continue to grow toward our
anticipated $10 million in 2008 revenue and beyond."
digiMedical Solutions, a Microsoft Partner, with operations in Texas and
Florida, has built its own suite of proprietary software to handle
prescriptions digitally from the physician's office to the pharmacy,
securely and in compliance with all DEA and HIPAA requirements. The suite
of software includes digiRX, digiRxStream, digiReauth, digiRxComp, and now
digiAccounting and the Company owns and operates five pharmacies throughout
Texas and Florida.
CEO Interview on Wallst.net
Earlier this week, Mr. Lee updated the investment community in an interview
with www.wallst.net. The interview covered the company's business plan for
growth to an anticipated $10 million in profitable revenue in 2008, market
opportunity, recent achievements and key management. The Company currently
has annualized revenue of approximately $6 million. digiMedical also
anticipates an analyst report reviewing the Company's current and future
operations expected to be released soon. To listen to the interview, go to
http://www.wallst.net/audio/audio.asp?ticker=DGMS&id=4512.
To be added to digiMedical's corporate e-mail list for shareholders and
interested investors, please send an e-mail to ir@digimedical.com.
About Crossroads Financial, LLC (www.crossroadsfc.com)
Crossroads provides a combination of products unique to the finance
industry. By providing both Inventory and Purchase Order funding we can
offer a one stop shop for clients to maximize their growth and working
capital availability.
About digiMedical Solutions, Inc.™ (www.digiMedical.com)
digiMedical Solutions, Inc.™ currently owns and operates five pharmacies
throughout Texas and Florida and is a Microsoft Independent Software Vendor
(ISV). digiMedical is both a pharmacy and medical technology company
focused on developing next generation, digital medical technology with an
emphasis on digital prescriptions (d-Prescriptions) that closely align the
doctor, pharmacist and patient. digiMedical Solutions™ unique business
model connects physicians, patients and pharmacies with next generation
medical technologies.
The company's continued growth will come from three channels: direct
marketing of the company's wireless based d-prescription technology to
physicians, acquisition of independent pharmacy chains and the sale of
select territories to "market partners" licensed to exploit the digiMedical
Solutions™ model.
Forward-Looking Statement
Statements included in this press release which are not historical in
nature, are intended to be, and are hereby identified as "Forward-Looking
Statements" for purposes of safe harbor provided by Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-Looking Statements may
be identified by words including "anticipate," "await," "envision,"
"foresee," "aim at," "believe," "intends," "estimates" including without
limitation, those relating to the company's future business prospects, are
subject to certain risks and uncertainties that could cause actual results
to differ materially from those indicated in the Forward-Looking
Statements. Readers are directed to the company's filings with the U.S.
Securities and Exchange Commission for additional information and a
presentation of the risks and uncertainties that may affect the company's
business and results of operations.