MILPITAS, CA--(Marketwire - December 14, 2011) - AmbiCom Holdings, Inc. (OTCQB: ABHI), a leading designer and developer of wireless products for the medical industry, today announced that it has received more than $1.2 million in purchase orders for the Company's existing products and newly developed products, which will begin shipping this month through April 2012.
"We believe this is the beginning of a turn-around for us," said John Hwang, Chairman and CEO of AmbiCom, who noted that the recent economic conditions had an effect on AmbiCom's sales during past quarters. "These purchase orders, for our existing products and newly developed products, help to make up what we lost earlier this year. We are also very pleased that these do not include any sales as yet for the Personal Monitoring Device, which we will commence selling in 2012." AmbiCom is working on sales for a wireless weight management product. (Personal Monitoring Device)
Hwang noted that the Company was particularly pleased that the $1.2 million in orders is for a mix of existing products from existing clients and a newly developed product for an established medical device company. "This provides a solid base upon which we can build into 2012."
About AmbiCom Holdings, Inc.
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value. For more information, visit www.ambicom.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements, including but not limited to, our ability to maintain our website and associated computer systems, our ability to generate sufficient market acceptance for our products and services, our ability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission from time to time which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.