MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP), a merchant payment solutions and financial products company for the medical health care industry, and its wholly owned subsidiary 800 Commerce Inc. (www.800Commerce.com), a
leading enabler and turnkey e-commerce solution provider including mobile payment solutions, today issued the following update on progress and corporate strategy for 2012 from B. Michael Friedman, Chief Executive Officer.
To MediSwipe Shareholders:
I am pleased to update the investment community and other interested parties on the progress to date of MediSwipe Inc. and our corporate strategy as we move forward into 2012. We have been working closely with all our strategic partners and clients to advance the interests of the Company on behalf of our shareholders. As you are aware, near the
end of 2011, there were numerous events on both the legislative and banking side within the medicinal and alternative health sector that caused us to modify our business model and seek vertical markets to remain a viable company. It takes more than six months to build a solid business model within a sector subject to monthly legislative changes.
I have always believed the company offers industry changing technology, and the time is now ripe for our industry to embrace our functionality through the solutions and partnerships we have built within the healthcare and payment industries. I continue to be impressed by the clear advantage in functionality that the MediSwipe solutions have over
any competing solution in the financial payments market, and our strategy of building partnerships with industry leaders will soon begin to yield meaningful revenue results. In addition, we have expanded our relationships with our existing client base significantly in late 2011 and early 2012 and anticipate our revenue will increase markedly as a
result of these efforts. We expect that all of our activities last year will combine to deliver greatly improved results in 2012.
With regard to the pending S-1 registration of our division 800 Commerce, while it was the intentions of management to complete this registration before year end, we were delayed by proposed acquisitions as part of the filing, and a last decision by our independent auditing firm to include December 2011 financials as part of the filing for two years completed financials. Although disappointing, it is typical in for negotiations and such comprehensive auditing reports to continue beyond the deadlines in order to reach mutually acceptable and workable resolutions. Regardless, MWIP has now completed the two year financial reports for 800 commerce, submitted them to our auditor, and the filing
is forthcoming as promised. The 8-K filing was not necessary as we had not changed primary auditors, simply added an additional firm for the 800 Commerce audits. We have been approved and received a CUSIP number for the Spin-off to issue certificates to our shareholders once effective, and will file the form 15C-211 simultaneously for a separate
symbol with the S-1 filing. We will keep shareholders updated in a timely manner once the filing date is reached.
Our merchant processing volume has remained constant, despite what has happened within the medicinal sector in California and Colorado. With the recent breakthrough in Arizona, we expect to attack the area aggressively with our payment card solution, as MediSwipe was featured as the major technology partner in the Arizona Business Journal last
year as a primary financial partner for the industry.
Our new mobile payment, gift and loyalty solution through technology partners will prove to be a major revenue source throughout 2012 as an alternative payment solution, not only within the healthcare sector, but to small business as well with its’ mobile coupon, gift and SMS offering features.
We have signed several new agreements with details to be announced over the next few weeks that will grow our company within the healthcare sector beyond payment solutions and utilize our network of pharmacies and wellness centers, including private labeled nutraceutical product lines and online sales of existing products through our 800 Commerce e-shopping cart systems. World demand for nutraceutical ingredients is projected to increase more than 7% percent annually to nearly $24 billion in 2015.
Additionally, on the 800 Commerce side, we have signed agreements for SMS messaging technologies and IVR technology that will enable us to become a major competitor in the mobile health space for medical alerts
and bill pay. Details on these agreements will be released in the next short weeks.
We also plan to continue our aggressive acquisition campaign, and believe that we have targeted our potential partner which will take the place of our initial VestaDigital plan, that will allow us to pursue the social media component of healthcare, which we believe will prove to be a very important aspect of the future of healthcare.
If you have questions, please ask the Company directly through its investor relations representative, 615.252.4099 ext. 103. Merchants interested in more information on the merchant processing, mobile payment and the nutraceutical line for their business should contact the Company at 615.252.4099 ext. 101
“We would like to thank our shareholders for their continued patience and appreciate the confidence you have extended to the company.”
B. Michael Friedman