LOS ANGELES, April 17, 2012 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP.OB), a merchant payment solutions and financial products company for the medical health care industry, today announced that the Company has timely filed its Annual Report on form 10-K and provides the following updates in this Letter to Shareholders. The letter outlines MediSwipe's accomplishments in 2011 as well as its strategic goals and initiatives for 2012.
Dear Valued Shareholders:
As the CEO of MediSwipe Inc., (OTCBB:MWIP), I am pleased to provide you with this review of our key achievements during our 2011 fiscal year, and the positive outlook we have for growth in 2012 and the future.
The past year proved challenging with several changes in legislation and banking requirements set forth with regard to the medicinal sectors in our key states of business California, Colorado and Arizona. We therefore sought vertical markets within the health and wellness sector to improve our revenue stream over and above the merchant processing and financial payments sector. We believe that the present relationships and technologies now in place, will allow our Company to achieve meaningful revenue and produce results within the healthcare sector both economically and effectively.
Our necessity to retain a new auditing firm, David Brooks and Associates CPA, to maintain our fully reporting status delayed the filing of our S-1 registration for our subsidiary 800 Commerce Inc. However, with two years fully reporting history in place for the company and substantial strategic partnerships aligned with the Company, we believe that the delay was both necessary and beneficial. We now plan to initiate the spin-off as promised, and 800 Commerce will be a stronger company poised for growth in the mobile marketing and payments which all of our shareholders will benefit from. Due to the fact that our market price still remains undervalued in our opinion, our plans to move forward with the definitive agreement with ReachMeDaily.com are still being negotiated as the final deal relies on both price per share and capital available for software development.
We believe that we are well positioned for a very positive start of the creation of significant value for shareholders and we remain very excited about our future in the coming years. As we look to the future, the management intends to implement several initiatives as part of our ambitious business plan for 2012
Goals for 2012:
• Drive market awareness for the Company and increase adoption of our merchant processing and prepaid patient cards and other services for healthcare businesses.
• Continue to assemble a cost-effective sales team to increase market share of our medical card business.
• Expand our business model via acquisitions and strategic partnerships.
With so much progress to report, and a growth plan in place for increased success in the near future, I feel confident saying that we expect 2012 to be a great year for MediSwipe, our subsidiary 800 Commerce and its shareholders.
Respectfully,
B. Michael Friedman
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) offers a full spectrum of secure and reliable transaction processing and security solutions for the medical and healthcare industries, using traditional, Internet Point-of-Sale (POS), e-commerce and mobile (wireless) payment solutions. The Company now also offers digitized personal health records in conjunction with Industry Alliance Partners. MediSwipe offers reliable merchant payment solutions and closed loop pre-paid stored value and loyalty cards as a unique cash alternative to these regulated and e-commerce businesses specializing within the healthcare sector.
FORWARD-LOOKING DISCLAIMER
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.