Favrille, Inc. Announces Name Change to MMR Information Systems, Inc.
Change of Name to Reflect Broad Scope of Services Offered
LOS ANGELES, Feb. 3 /PRNewswire-FirstCall/ -- Favrille, Inc. (the "Company") today announced that it will change its corporate name to MMR Information Systems, Inc., effective February 9, 2009. Until a new trading symbol is obtained, the Company will continue to trade on the OTC Bulletin Boards under the symbol "FVRL.OB."
"We believe MyMedicalRecords offers the most user-friendly system for an individual or medical professional to manage information, including Personal Health Records, with access 24/7 from any Internet-connected device," stated Robert H. Lorsch, Chairman and CEO of MMR Information Systems, Inc. "The Company's objective in changing its name is to make sure the public understands the full scope of what our products really do, which is to provide a personally-controlled life management tool, not just a storage center for medical records. Our proprietary, patent-pending technologies make MyMedicalRecords the most easy-to-use and versatile PHR and emergency preparedness tool, which we believe is the key to widespread adoption."
The name change was accomplished without the need for a stockholder vote, and current stockholders need not take any action with respect to the name change. The outstanding shares of common and preferred stock will not be affected by the name change. A new CUSIP number (553101 106) was assigned to the outstanding shares of common stock following the effectiveness of the name change. Stock certificates bearing the Favrille, Inc. name and the old CUSIP number of the outstanding common stock (312088404) will continue to be honored.
As previously announced, the Company completed a merger on January 27, 2009 that made MyMedicalRecords, Inc. ("MyMedicalRecords") a wholly-owned operating subsidiary of the Company. The Company's business will be conducted under MyMedicalRecords' brands and identity.
About MMR Information Systems, Inc.
MMR Information Systems, Inc., through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. (collectively, "MMR") provides secure and easy-to-use Web-based Personal Health Record (PHR) and electronic safe deposit storage solutions, serving consumers, healthcare professionals, employers, insurance companies, unions and professional organizations. Seeking to empower consumers to have greater control over their health and well-being, MyMedicalRecords facilitates access to medical records and other important documents, such as living wills, birth certificates, passports, advance directives and insurance policies, anytime from anywhere using the Internet. The Company's principal product, the MyMedicalRecords PHR service, is built on proprietary patent-pending technology that enables users to transmit documents, images and voicemail messages in and out of the system using a variety of methods, including fax, e-mail, phone, and file upload without relying on any specific electronic medical record platform to populate a user's account. Additional information regarding MMR's business and its products, including trial accounts, is available at the MyMedicalRecords Website at www.mymedicalrecords.com. Information on the Company's Website and MyMedicalRecord's Website is not incorporated by reference into this press release.
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, statements regarding the Company's name and products, the current state of information management within the healthcare industry, the Company's access to the investment community, and the continued listing or trading of the combined company's common stock on the OTC Bulletin Boards, including its trading symbol. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to the risk the Company's products are not adopted or viewed favorably by the healthcare community, risks related to the current uncertainty and instability in financial and lending markets, risks related to the trading status of the Company's common stock on the OTC Bulletin Boards, risks relating to the Company's ability to negotiate settlements with creditors, and additional risks discussed in the Company's filings with the Securities and Exchange Commission. The Company will also be subject to a number of risk and uncertainties, including risks relating to the need to have access to additional capital to finance the business until it can generate sufficient cash flow from operations and risks relating to the adoption of personal health care records and the development of a viable revenue generating business model. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
CONTACT: Terry Wills, twills@willscom.com, or Ann Kelsey,
akelsey@willscom.com, both of Wills Communications, Inc., +1-310-524-0200,
for MMR Information Systems, Inc.
Web site: http://www.mymedicalrecords.com/