MedX Health Corp. Announces Year End Financial Results
2014年5月1日 - 10:49AM
Marketwired
MedX Health Corp. Announces Year End Financial Results
MISSISSAUGA, ONTARIO--(Marketwired - Apr 30, 2014) - MedX Health
Corp. ("MedX" or the "Company") (TSX-VENTURE:MDX) announced its
results for the year ended December 31, 2013, which are also
available on SEDAR (www.sedar.com)
The Company reported
a loss of $1,892,345, or $0.04 per share for the year ended
December 31, 2013 compared with a loss of $539,224, or $0.02 per
share for the year ended December 31, 2012. Revenues of $579,645
for the year ended December 31, 2013 were lower than $728,286 in
2012, due to the competitive market conditions for its traditional
therapeutic laser products. During the year, the Company settled
$1,927,850 of debt through issues of common shares and warrants.
The effect of application of the Black-Scholes model formula to
value the warrants issued as part of those debt settlements had the
effect of recording a non-cash loss of $810,721; this compared with
debt settlements in the prior year, which had not included
warrants, recording a non-cash gain of $993,309.
For the three months
ended December 31, 2013, the Company reported a loss of $1,006,410,
or $0.02 per share, compared with income of $512,481, or $0.10 per
share for the three-month period ended December 31, 2012. The loss
for the final Quarter contained a significant contribution of
non-cash loss recorded as a result of issuance of warrants on debt
settlements. Revenues of $160,555 for the three-month period ended
December 31, 2013 were lower than $193,326 in 2012.
About MedX
MedX is
headquartered in Mississauga, Ontario (Toronto), and is a global
leader in the design, manufacturing and distribution of quality low
level laser and light therapy technologies for use in numerous
medical settings, including rehab/chiropractic, dental, wound care,
and veterinary medicine, providing patients with drug free and
non-invasive treatment of tissue damage and pain. MedX laser and
light products are FDA approved, Health Canada cleared, and CE Mark
approved for use in North America as well as the European Union.
MedX's products include SIMSYS™ and MoleMate™, which are approved
by Health Canada, and available to Canadian physicians and
dermatologists, are FDA approved for use in the USA and are
currently under review for CE approval for use in Europe, the UK,
and Australia, as an optical biopsy that uses patented technology
featuring a hand-held scanner device designed for clinical use that
utilizes light to view beneath suspicious moles or lesions in a
pain free, non-invasive manner, creating images in real-time for
physicians and dermatologists to evaluate all types of moles or
lesions within seconds. For more information log onto:
www.simsys-molemate.com. For a complete profile of MedX and its
products visit www.medxhealth.com.
This press release
does not constitute an offer of any securities for sale. This press
release contains certain forward-looking statements within the
meaning of applicable Canadian securities legislation. These
forward-looking statements involve certain risks and uncertainties
that could cause actual results to differ, including, without
limitation, the company's limited operating history and history of
losses, the inability to successfully obtain further funding, the
inability to raise capital on terms acceptable to the company, the
inability to compete effectively in the marketplace, the inability
to complete the proposed acquisition and such other risks that
could cause the actual results to differ materially from those
contained in the company's projections or forward-looking
statements. All forward looking statements in this press release
are based on information available to the company as of the date
hereof, and the company undertakes no obligation to update
forward-looking statements to reflect events or circumstances
occurring after the date of this press release.
Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this press
release.
MedX Health Corp.Robert von der PortenPresident and CEO905 670
4428investor@medxhealth.comwww.medxhealth.com
Medx Health (TSXV:MDX)
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