LOS ANGELES, CA--(Marketwire - Jun 8, 2011) - MMRGlobal, Inc. (
Robert H. Lorsch, Chairman, President and Chief Executive Officer of MMRGlobal, stated: "We noticed a number of days when buying volume demand exceeded sales volume yet the stock price closed lower. In coordination with BUYINS.NET, we are investigating whether the Company's stock is being inappropriately shorted. We will pursue such practices aggressively by exposing manipulative shorting activities and seeing that it is called to the attention of regulators. The agreement with BUYINS.NET is the first step in a long process to protect our shareholders from this kind of abuse."
"MMRGlobal is a company with great lineup of consumer and professional products and services in healthcare," Lorsch added. "We are focusing our attention on building a base of long-term investors who recognize the opportunity of investing in 'The Future of Healthcare Today' (www.mmrvideos.com). We want our shareholders to trust that management cares about them and is monitoring unusual trading activity to the extent reasonably possible."
In addition, MMRGlobal will also begin increased monitoring of current NOBO lists (Non Objecting Beneficial Owners) through Broadridge, Inc., the Company's processing and investor communications firm. A NOBO list shows a comprehensive shareholder profile for accounts held through a broker(s) or bank(s) custodian in "street name" which are in addition to those shares belonging to "registered" holders that have shares in certificate form or on the books of the Company's transfer agent.
Management will use reports from The Depository Trust Corporation (DTC) in conjunction with the NOBO list, the services of BUYINS.NET, and outside legal counsel, as necessary, for investigation and to help uncover inappropriate short positions or other abuses.
MMRGlobal has a history of investigating unusual trading patterns in its stock. In fact, last October the Company filed a Form 8-K with the U.S. Securities and Exchange Commission dealing with the matter. (See http://www.sec.gov/Archives/edgar/data/1285701/000113626110000274/body8k.htm) The Company remains committed to do whatever is reasonably possible to protect its shareholders from inappropriate market manipulations.
The Company urges large shareholders to ensure their accounts have not lent out their stock without the shareholder's knowledge and consent. Shareholders are also encouraged to ask their broker's compliance departments if any part of their stock position has been loaned to potential short sellers.
The following are excerpts from BUYINS.NET:
BUYINS.NET, http://www.buyins.net, a leading provider of Regulation SHO compliance monitoring, short sale trading statistics and market integrity surveillance, has initiated coverage on MMRGlobal (
Click here to view Report: http://www.buyins.com/reports/mmrf6-7-11.pdf
Click here for SqueezeTrigger: http://www.buyins.com/images/mmrfstr6-7-11.jpg
Click here for Friction Factor: http://www.buyins.com/images/mmrfff6-7-11.jpg
About MMRGlobal, Inc.
MMRGlobal, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. ("MMR"), provides secure and easy-to-use online Personal Health Records ("PHRs") and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, financial institutions, and professional organizations and affinity groups. The MyMedicalRecords PHR enables individuals and families to access their medical records and other important documents, such as birth certificates, passports, insurance policies and wills, anytime from anywhere using the Internet. MyMedicalRecords is built on proprietary, patented technologies to allow documents, images and voicemail messages to be transmitted and stored in the system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform to populate a user's account. The Company's professional offering, MMRPro, is designed to give physicians' offices an easy and cost-effective solution to digitizing paper-based medical records and sharing them with patients in real time through an integrated patient portal. MMR is an Independent Software Vendor Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare professionals. MMR is also an integrated service provider on Google Health. Through its merger with Favrille, Inc. in January 2009, the Company acquired intellectual property biotech assets that include anti-CD20 antibodies and data and samples from its FavId™/Specifid™ vaccine clinical trials for the treatment of B-Cell Non-Hodgkin's lymphoma. To learn more about MMR Global, Inc. and its products, visit www.mmrglobal.com.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature, including future performance, management's expectations, beliefs, intentions, estimates or projections, constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words (and their derivations) such as "need," "possibility," "offer," "development," "if," "negotiate," "when," "begun," "believe," "achieve," "will," "estimate," "expect," "maintain," "plan," and "continue," or the negative of these words. Factors that could cause or contribute to such differences include, but are not limited to, the risk the Company's products are not adopted or viewed favorably by the healthcare community; risks related to the current uncertainty and instability in financial and lending markets, including global economic uncertainties; statements and data from Buyins.net; the Company's capital structure; product integration in physician practices and hospitals; timing and volume of sales and installations; length of sales cycles and the installation process; market acceptance of new product introductions; ability to establish and maintain strategic relationships; ability to identify and integrate acquisitions; relationships with licensees; competitive product offerings and promotions; changes in government laws and regulations and future changes in tax legislation and initiatives in the healthcare industry; undetected errors in our products; possibility of interruption at our data centers; risks related to third party vendors; risks related to obtaining and integrating third-party licensed technology; acceptance of the Company's marketing and promotional campaigns; risks related to a security breach by third parties; maintaining, developing and defending our intellectual property rights including those pertaining to our biotechnology assets; risks associated with recruitment and retention of key personnel; uncertainties associated with doing business internationally across borders and territories; and additional risks discussed in the Company's filings with the Securities and Exchange Commission. Additionally, we are a developing early-stage company and many variables can affect revenues and/or projections, including factors out of our control. The Company is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
Contact Information:
CONTACT:
Michael Selsman
Public Communications Co.
(310) 553-5732
ms@publiccommunications.biz