DALLAS, TX--(Marketwire - September 02, 2010) -
Metiscan, Inc. (PINKSHEETS: MTIZ
) announced today shareholder points of interest discussed during the Company's nationwide teleconference yesterday. Mr. Bryan A. Scott, President & CEO, and Mr. Brian Hart, COO of Metiscan, provided deeper insight into its subsidiaries' markets, products, and near term objectives, as well as Metiscan's pursuit in listing on the OTCBB.
During the Teleconference, Mr. Scott detailed Metiscan's corporate structure as the parent company of a portfolio of enterprises with operations in healthcare, healthcare IT, mobile technology and employment services. Metiscan manages all aspects of its subsidiaries and is currently pursuing growing its subsidiary Taptopia through technologies that are unique to its products and through acquisitions that complement its subsidiaries' operations. Metiscan's four subsidiaries are FirstView EHR, Inc., Taptopia, Inc., Schuylkill Open MRI, Inc. and Shoreline Employment Services, Inc. Mr. Scott further discussed Metiscan's recent filing of its registration statement and its goal to meet the OTC Market requirements to qualify for the OTCBB market tier.
Mr. Scott also mentioned how Taptopia was founded in July 2009 with the vision of applying new technologies to the $80 Billion convention, trade show and meeting industry that revolutionize the way show managers and event organizers do business. Mr. Scott stated that, "the industry is greatly in need of technologies, more specifically software technologies, that aid exhibitors and attendees to realize more value from their events, as well as aid show managers with tools that help increase attendance and reduce costs." He also summarized that Taptopia's goal is to create and roll out new patent protect software technologies, which Taptopia has in its pipeline.
Bryan Hart, COO of Metiscan, mentioned that the Company is trending in a positive manner. Mr. Hart explained how Metiscan realized approximately $2.5M in revenues for year-end 2009, a 144% increase from year-end 2008. During 2010, the Company's revenues have continued to increase over the last two quarters. Mr. Hart stated, "This quarter alone we experienced a 47% increase in our revenues, or $165,439 from the same period in 2009." Mr. Hart also mentioned that during the first half of 2010 Metiscan experienced a 16% increase in its revenues, a $194,111 gain. The Company's overall revenues as of June 30, 2010 were $1,413,490.
Mr. Hart stressed the importance of how digital medical information, specifically the electronic healthcare record systems FirstView administers and Schuylkill Open MRI recently implemented, saves the medical industry time and money. He stated that, "Metiscan strongly believes that storing medical information digitally, and being able to distribute it electronically, is a great cost savings by itself." Mr. Hart also mentioned that last year $19 billion in the stimulus package targeted physicians to use electronic health record systems because EHR technology cuts costs, eliminates paperwork and helps doctors deliver high quality, coordinated care to patients. Mr. Hart explained that this will benefit Metiscan both for its imaging center as it relates to the benefit of the operational efficiencies EHR provides, and for FirstView as it relates to the professional Healthcare IT services it provides.
Mr. Hart explained how Metiscan demonstrated positive income from operations during the first half of 2010 totaling $184,464. Mr. Hart mentioned that Metiscan has constantly been focused on increasing operational efficiencies in all of its subsidiaries. Mr. Hart gave the example of how Schuylkill Open MRI moved towards more economical service contracts for maintaining all of its MRI equipment in its diagnostic imaging center and recently implemented a new EHR system. With FirstView, Mr. Hart said it reduced costs related to operating its data center and the amount of personnel needed for its billing and collection activities. He summarized his discussion on Metiscan's subsidiaries, pointing out that Shoreline, its employment services division, has focused on economies of scale as it relates to personnel resources and benefits.
In closing, Mr. Scott stated, "We are very excited about our business activities here at Metiscan. We have great expectations for our company and our team believes in its future. We have been successful in building a company that is displaying both financial growth and innovation in new products and technologies."
A recording of Metiscan's nationwide teleconference will be available on the Company's website at: www.metiscan.com within the next few days.
About Metiscan, Inc.
Metiscan, Inc. (Metiscan) (PINKSHEETS: MTIZ) is the parent company of a portfolio of enterprises with operations in healthcare, healthcare IT, mobile technology and employment services. Metiscan manages all aspects of its subsidiaries and is currently pursuing acquisitions that complement its subsidiaries' operations. Metiscan's subsidiaries include FirstView EHR, Inc., Taptopia, Inc., Schuylkill Open MRI, Inc., Shoreline Employment Services, Inc. For more information visit www.metiscan.com
Safe Harbor Statement: Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Metiscan's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.