Authorized: 750 MILLION AS OF January 14th 2015. 01/26/15 OCLG Continues Pursuit of Shareholder Value Marketwired via CMTX - Mon Jan 26, 8:26AM CST 01/16/15 Oncologix Tech, Inc. Announces 1st Quarter Fiscal 2015 Financial Results Showing, New Business, Solid Revenue Growth and Continued Financial Improvements LAFAYETTE, LA, Jan 16, 2015 (Marketwired via COMTEX) -- Oncologix Tech Inc. (OTC PINK: OCLG), a fully reporting, diversified medical holding company with operating divisions in medical devices, healthcare services and durable medical product sales and distribution announced financial results for its first quarter of fiscal 2015 ending November 30, 2014.
Oncologix Tech Inc. (OTC PINK: OCLG), a fully reporting, diversified medical holding company with operating units in medical devices, technologies and products, and healthcare services, announces continued note reduction strategy by retiring yet another convertible note.
Wayne Erwin, OCLG's Chief Executive Officer, remarked, "We continue to increase shareholder value by reducing the gross amount of convertible notes outstanding and, more importantly, prior to their conversion. Our corporate strategy is to retire all notes prior to their conversion dates. This most recent payoff eliminated the issuance of over 16 million shares of our common stock. We have requested of the note holder to amend its Schedule 13G filing, to properly reflect zero (0) beneficial shares owned as of January 23, 2015. At no time did the note holder possess beneficial ownership of the stated shares."
Mr. Erwin further commented, "Over the past several months we have retired similar convertible notes, representing the potential issuance of over 50 million shares, utilizing our internal cash flows. At present, we have notes remaining with a combined principal balance under $65,000, which we are confident will also be retired. This strategy benefits the company in multiple ways including reducing shareholder dilution and overall corporate debt. This proactive management strategy furthers our corporate mission to firstly deliver shareholder value."
About Oncologix Tech Oncologix is a diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Health Care Services, and sells and distributes Durable and Home Medical Equipment. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services, and medical products and technologies. For its shareholders, Oncologix operates profitable divisions that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap medical holding company in North America.
Financial Highlights over the past 12 months: Wayne Erwin, CEO of Oncologix, stated, "We are pleased to announce highlights of our first quarter fiscal 2015." Erwin also commented, "We continue to execute our strategy to focuses on strategic acquisitions and debt reduction, both of which significantly increase Oncologix's market value."
-- Revenues for the first quarter 2015 were $1,161,874, up 60.3% from $724,632 for the comparable period in fiscal 2014.
-- Gross margins for the first quarter fiscal 2015 were $300,843, up 30.7% from $230,077 for the comparable period in fiscal 2014.
-- General and administrative expenses for the first quarter fiscal 2015 were $454,323, up from $277,360 in fiscal 2014. This was due primarily to general and administrative expenses from our acquisition of Esteemcare.
-- During the past twelve months, we have repaid over $1,515,000 of company debt and financing agreements.
-- Cash provided by financing activities was $817,600 for the first quarter fiscal 2015, up from $86,586 for the comparable period in fiscal 2014.
Key Company Activities over the past 12 Months
-- Acquisition of Esteemcare Inc. effective September 2014 - $1.7 million in annual revenues Erwin also noted, "We are on track to close on a potential acquisition within the next 45 days with an additional durable medical equipment company with annual revenues of approximately $9.8 million generating over $2.2 million in positive EBITDA. With our continued acquisition and growth strategy, we strive to grow our annualized revenues to $35 million by year-end 2015 with positive EBITDA exceeding $3.6 million. Our stock price does not accurately reflect the success of our operating activities and remains severely undervalued. With our continued execution on our acquisition and growth plan, we are confident that our stock value will rise in the coming year to its true fair market values."
-- Obtained 10 new physician referral sources for annual projected revenues of $140,000.00
-- Revamped staffing and consolidated positional responsibilities to position the company for expansion in to new markets.
-- Expanded respiratory therapy services into3 new markets -- Acquired Amian Health Services December 2013 - $1.1 million in annual revenues
-- Continued reduction in non-essential FTE employees. -- Continuing with final product redesign for Dotolo Research Toxygen-II hardware system and new disposable speculum products
-- Executed a $4.0 million line of credit facility with TCA Global Fund
-- Repaid $107,500 of convertible debt between October through December 2014 from operating capital preventing approximately 40 million shares from being sold into the market.
About Oncologix Tech Oncologix is a fully reporting, diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Healthcare Services, and Home Medical and Durable Medical products nationally. For its clients, Oncologix provides FDA approved medical devices, state licensed healthcare services and medical product distribution. For its shareholders, Oncologix operates profitable operating divisions that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap healthcare services holding company in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's filings with the Securities and Exchange Commission.
Chairman and CEO
Green Arrow Consulting LLC
|Shares Outstanding || 169 mil Confirmed today January 14th 2015! || |
Active Nev. SOS: http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=UwGmau%252fMI39WMM1VDsGvfQ%253d%253d&nt7=0 Insider made purchases last month: http://www.otcmarkets.com/stock/OCLG/insider-transactions Just acquired a company in August with $2.9 million annual revenues and 168 employees!! Oncologix Tech Acquires Angels of Mercy; Gains Leading Healthcare Service Company ALEXANDRIA, LA, Aug 05, 2013 (Marketwired via COMTEX) -- Oncologix Tech Inc. (OTCQB: OCLG), announced today the Company has purchased 100% of the common stock of Angels of Mercy, Inc., a leader in the Personal Care Attendant (PCA) healthcare services industry.
Wayne Erwin, OCLG's Chief Executive Officer, remarked, "Oncologix is extremely delighted to complete the acquisition of Angels of Mercy. Angels is the leading healthcare services company in the State of Louisiana providing PCA services to over 200 active clients, with 168 employees and $2.9 million in annual revenues. The acquisition establishes the foundation for our healthcare services division and confirms the strategic mission of the company: to acquire medical device and healthcare services-related companies."
Angels of Mercy began its healthcare service operations in 2001 with offices in Alexandria and Lafayette, Louisiana. As a healthcare service provider, Angels of Mercy delivers education and training to Personal Care Assistants who provide routine health and personal care support and assistance with Activities of Daily Living (ADL) to patients with physical impairments or disabilities in private homes, nursing care facilities, and other residential settings. Angels of Mercy holds both PCA-Medicaid Waiver Provider and Residential Rehabilitation/Supervised Independent Living (SIL) licenses issued by the Division of Licensing and Certification of the Department of Social Services and the Louisiana Department of Health and Hospitals. Licenses are issued to Angels of Mercy for Region 4 and Region 6 covering 12 parishes within the State of Louisiana.
Oncologix is an acquisitive diversified medical device and healthcare holding company. For its customers, Oncologix provides FDA approved medical devices and state licensed healthcare services. For its shareholders, Oncologix acquires profitable operations that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap medical device and healthcare holding company in North America.
Now we have a letter of intent with another service provider!!!
Oncologix Continues Expansion; Signs Letter of Intent With Private Pay Healthcare Service Provider 8:50a ET October 10, 2013 (Market Wire)
Oncologix Tech Inc. (OTCQB: OCLG), announced today that it has signed a Letter of Intent to acquire a Private Pay healthcare service provider.
Wayne Erwin, CEO of OCLG, stated, "We have signed a letter of intent with a provider of private pay services to the elderly and to Veterans Administration clients. We expect to announce the details of this transaction within the next 45 days. The Letter of Intent continues our Company strategic mission."
With the recent acquisition of Angels of Mercy, Inc, a leading Personal Care Attendant service provider now complete, we will merge these operations into Angels. The combined synergies will allow Angels of Mercy to become the leading PCA healthcare service provider in the State of Louisiana with over 248 employees and $3.8 million in annual revenues, thereby continuing with the Company's core mission. OCLG is determined to position the Company for long-term growth and profitability built on the strength of its existing operations and new health care service acquisitions. Oncologix operates medical device and healthcare services companies. For its clients, Oncologix provides FDA approved medical devices and State licensed healthcare services. For its shareholders, Oncologix operates profitable operations that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap medical device and healthcare services company in North America.