HOUSTON, June 29 /PRNewswire-FirstCall/ -- Pediatric Prosthetics Inc. , the nation's leading specialist in pediatric prosthetics, today announced that it has filed Form 10-QSB with the SEC at http://www.sec.gov for its second fiscal quarter ended December 31, 2005.
Kenneth Bean, Vice President of Operations for Pediatric Prosthetics stated, "We have made tremendous progress in building our infrastructure and external network of Host-Affiliates during the second fiscal quarter. As of December 31, 2005, we had established working relationships with a total of 12 Host Affiliates operating in 19 states. These affiliates have begun our specialized training for fitting pediatric prosthetics. While we recognized revenues in the second quarter, our operational network continues to grow and the positive results of our marketing campaign will begin to materialize in the third fiscal quarter of 2006."
During October 2005, management laid the groundwork for a national multi- media publicity campaign based upon the success stories of the children the Company has serviced. To date, the Company has been featured on popular, nationally televised channels including Life & Style and The Discovery Channel. These and ongoing media coverage can be viewed online http://www.kidscanplay.com.
Pediatric Prosthetics has found that up to 12,000 pre-adolescent (younger than age 12) children in the United States may be in need of prosthetic rehabilitation, based on the fact that there are approximately 1,000 children born each year with a limb-loss in the United States, according to the Limb Loss Research and Statistics Program. During their high growth years, ages 1 through age 12, these children will be candidates for re-fitting at least once per year. Establishing an early relationship at the infant or toddler level is one of Pediatric's primary goals to achieve ongoing revenue streams while delivering consistent, high-quality and accessible care to its patients.
Bean concluded, "Receiving an investment tranche in the amount of $600,000 on May 30, 2006 will enable us to increase our advertising and marketing efforts by five fold in fiscal 2007, which begins on July 1, 2006. We believe aggressive sales and marketing will generate a substantial ramp-up of our monthly prosthetic fittings rate and result in higher gross profits based on serving new clients as well as re-fitting a growing number of our existing client base. We are on track to continue to build our business in 2006/2007 with a focus on enhancing long-term shareholder value."
About Pediatric Prosthetics Inc.
Pediatric Prosthetics Inc. is the nation's leading provider of specialized pediatric prosthetics for both upper and lower limbs. The Company's CEO Linda Putback-Bean pioneered fitting state-of-the-art myoelectric upper extremity prostheses for the pediatric niche market. In the absence of a hand or arm, a child's brain still continues sending signals to grasp or open the hand in the residual limb. Myoelectric sensors can read those signals through the skin, (requiring no surgery), and with a computer chip can magnify those signals many fold to actuate a tiny powerful motor to accomplish tasks with the life- like hand. In 2003, Ms. Putback-Bean founded Pediatric Prosthetics to create a comprehensive organization that connects parents and their children with a limb loss, to expert pediatric prosthetic fitting, rehabilitation, and life- long care. As a result, Pediatric Prosthetics hopes to increase the quality of life for patients and their families nationwide. For more information, visit http://www.kidscanplay.com.
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This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular when used in the preceding discussion, the words "believes", "expects", "intends", "will", "anticipated" or "may" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties including, without limitation, risks associated with operations, availability of capital on a reasonable term, the effects of government regulations and operations risks, and the risk factors set forth from time to time in the Company's SEC reports, included but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB, and any reports on Form 8-K. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. Pediatric Prosthetics Inc. takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that is not paid for by the Company. The forward-looking statements contained herein reflect the Company's judgment as of the date of this release, and the Company cautions readers not to place undue reliance on these statements.
Pediatric Prosthetics Inc.CONTACT: at Pediatric Prosthetics Inc.: Kenneth Bean of PediatricProsthetics Inc., +1-866-582-0966, 1-bean@sbcglobal.net; or at OTCFinancial Network: Geoffrey Eiten, +1-781-444-6100 ext. 613,geiten@otcfn.com, or Rick McCaffrey, +1-781-444-6100 ext. 625,rick@otcfn.com, both of OTC Financial Network
