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PR Newswire; 8/26/2004
IRVINE, Calif., Aug. 26 /PRNewswire/ -- Transax International Limited ("Transax") (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) announces its financial results for the three and six months periods ended June 30th 2004.
Revenues for the quarter from Transaction Fees were USD $312,600 compared to revenues of USD $67,000 for the second quarter of 2003. Net loss for the quarter decreased to USD $112,200 or $0.01 per share compared to USD $448,900 or $0.04 per share for the comparable 2003 period.
During the six month period ended June 30th 2004, revenue increased to USD $450,200 a 301% increase with the comparable period in 2003. Operational loss was USD $440,400 or $0.03 per share, a 56% decrease from the $1,012,500 or ($0.08) loss per share in 2003. The decrease in operating expenses is primarily due to no stock compensation charges being recorded during the first half of 2004.
Stephen Walters, Transax President and CEO stated, "We are pleased with the growth in revenues since commencing our Roll Out plan and can expect favorable rates to continue over the coming twelve months as we continue to install solutions to existing clients." Walters further commented: "In the second quarter of 2004, we were able to increase our transactions revenues by 127% while total operating expenses decreased by 11%. This bodes well for our business model and profitability of the company."
The information contained in this press release should be read in connection with the company's Quarterly Report filed on Form 10-QSB for the quarter ended June 30, 2004 and its Annual Report filed on Form 10-KSB for the year ended December 31, 2003.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time." MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 250,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 8/9/2004
Transax International Limited ("Transax") (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to advise it has launched its new IVR ("Interactive Voice Response") service with Embratel, (Brazil's largest fixed line telecommunications company) to support the operation of its MedLink Phone Solution nationwide in Brazil.
This solution, developed in a joint collaboration between the technical teams of Transax and Embratel, is based on Embratel's "Solution 21" network of IVR infrastructure, allowing it to support complex "real time" medical eligibility and authorization transactions using a simple and seamless automated voice response system. This solution took Transax and Embratel several months of research, development, and configuration techniques to allow for the streamlining of the operation countrywide.
"Solution 21" developed by Embratel is an IVR infrastructure currently available at over 30 Long Distance regions in Brazil, and is expected to reach over 50 regions by mid 2005, covering the country entirely.
Transax's MedLink solution is the only Eligibility Verification and Claims Authorization processing network using this facility, which is expected to create a positive impact for further deployment to thousands of medical Providers in Brazil that currently have a low and medium volume of per-month transactions with their health insurance companies. Transax's IVR solution is already installed in over 2,250 medical providers' offices in Brazil, which are currently generating over 60,000 transactions monthly. The solution enables a medical provider to receive eligibility and authorization confirmation of medical procedures from its insurer in "real time" via Interactive Voice Response.
Americo de Castro -- President of Transax's Operating subsidiary in Brazil, commented: "This solution developed by our engineers completes one of our major goals of providing 'Total Connectivity' to our health insurer clients and provides 'real time' eligibility and authorization transactions from virtually any location throughout the country by Interactive Voice Response." De Castro further commented: "We plan to install a further 7,000 solutions over the next 12 months for current contracts, and increase our transaction volume significantly to over 200,000 IVR transactions per month as we roll out this solution."
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time." MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 250,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 7/23/2004
Transax International Limited ("Transax") (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to advise it has received approval from Bradesco -- Brazil's largest health insurer with 2.4 million lives insured and a subsidiary of Brazil's largest bank -- to commence installation of its Point of Sale ('POS") solution into medical provider's offices, clinics and hospitals in major centers in Brazil.
This roll out is a continuation of the successful integration of Transax's Medlink solution into Brazil's largest medical laboratories through its PC and server solutions, which are now collecting "real time" authorization and adjudication transactions for Bradesco Insurance as well as providing "real time" billing functions.
The POS solution developed by Transax allows, through the use of a magnetic stripe card or smart card containing critical patient information such as medical plan, a provider to undertake instantaneous eligibility, authorization and adjudication of medical claims to the health insurer. Initial POS transactions for Bradesco will be processed through Transax's proprietary software on already installed POS devices in the Transax network, enabling a medical provider to undertake claims for multiple insurers contracted by Transax through a single POS device, thereby increasing the revenue generating ability of the unit.
Stephen Walters President & CEO of Transax commented: "Through our Network Processor and authorizer, medical providers are able to instantly receive authorizations of medical claims for over 4,000 medical procedures." Walters also indicated: "The solution developed by Transax is not EDI (Electronic Data Interchange) and neither are we a Clearing House of claims. Our solution has significant advantages and enables the insurer to authorize, adjudicate and provide billing functions electronically in "real time", and has proven to save significant costs for the insurer in patient claims analyses and other administrative costs."
Walters further commented, "We believe our solution can be thought of as the healthcare analogue to the credit card of today, where we have reduced all of the paperwork associated with a health insurance claim to no more than a credit card transaction which is authorized and adjudicated in "real time". The POS solution is our most common solution for the Brazil market, though we also provide server, PC and network solutions fully integrated into medical laboratories systems and medical practice management systems, which provide "real time" authorizations and adjudication of claims also without the requirement for any paperwork."
In addition to the 450 POS units currently installed in its network, Transax's subsidiary in Brazil expect to install a further 3,000 POS units into medical providers in Brazil over the next 18 months for currently signed contracts and other PC, server and network solutions into medical facilities in addition to its Interactive Voice Response Unit in its aim to provide "Total Connectivity To The Health Insurance Industry" for "real time" paperless processing of heath insurance claims.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 250,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 7/21/2004
Transax International Limited ("Transax") (BULLETIN BOARD: TNSX, Frankfurt/Berlin: TX6) provides the following business update in relation to the company's recent depreciation in stock price. In spite of the recent depressed share price, Transax's efforts to reach significant milestones continues uninterrupted.
Stephen Walters, Chief Executive Officer of Transax commented: "The fundamentals of Transax business are solid. In the first half of 2004, we increased our monthly transaction volumes and revenues by 150%. The company is now in the process of commencing a major roll out with the largest health insurer in Brazil. Our rates of transaction volumes and revenues are expected to increase further during the second half of 2004. "
Walters continued: "Current annualized revenues of about USD 1 million are expected to increase significantly in the second half of 2004 as roll out proceeds on all three contracts. The Brazilian operations of Transax, which now support 40 staff, are expected to break even by the end of the third quarter 2004, and the company projects to reach profitability shortly thereafter. "
Transax is emerging as a leader of "real time" healthcare related electronic authorization and adjudication transactions as indicated by recently signed agreements. The company is in discussions with a number of groups for potential partnerships for the US market and is in negotiations regarding an entry for a license of its product with a major financial institution in Europe. Furthermore, additional MOU's regarding new business initiatives with current clients are expected to be announced shortly. These initiatives will add significantly to Transax's revenue stream during 2005.
Shareholders are advised that no current projects have been delayed due to financial reasons. While the decline in share price affects the ability to raise equity funding, management of the company is confident in its belief that the share price will recover as the market recognizes the company's achievements as revenues continue to flow. It is also management's opinion that the terms and conditions for shorter and long term financing will greatly improve sooner than expected as the company reaches its break-even point in the second half of 2004.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 250,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 7/15/2004
Transax International Limited (BULLETIN BOARD: TNSX) (Frankfurt: TX6;Berlin) ("Transax") is pleased to advise the final beta test of its Medlink Solution with a number of medical facilities in Brazil to undertake real-time medical ancillary transactions.
Mr. Americo de Castro, President of Transax's operating subsidiary in Brazil, stated: "This solution, developed in cooperation with some of the major health insurance companies in Brazil, will initially enable doctors and medical providers to undertake real-time eligibility, authorization and adjudication of claims for the growing physiotherapy market. We expect to complete our final beta testing in 10 days and for the solution to be commercially live prior to the end of July 2004. Other medical ancillary solutions are in various stages of development and will be introduced throughout the second half of 2004."
Transax already has the capability to adjudicate and authorize in "real- time" in excess of 4,000 medical procedures. The initial development of the physiotherapy solution will add more than 100 procedures to its growing base.
With over 2,500 solutions currently installed throughout Brazil Transax expects to undertake approximately 250,000 "real-time" eligibility, authorization and adjudication transactions during July 2004 for contracts currently in place and expects to roll out a further 100+ solutions in July 2004.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time." MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost-effectively process all of the transactions generated in "real-time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 220,000 transactions per month and has contracts in place for in excess of 2,500,000 transactions per month and other potential contracts in various stages of negotiation.
PR Newswire; 6/17/2004
Transax International Limited ("Transax") (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is well positioned to take advantage of the significant growth opportunity in the Latin American market in the next 24-36 months.
Stephen Walters, President and Chief Executive Officer of Transax commented, "If we implement our business plan successfully, we should be able to achieve high double digit sequential growth over the next 24 months. Our initial business in Brazil presents a tremendous opportunity for our Company. In Brazil, approximately 48 million people have private healthcare insurance. With our recent contracts, Transax has signed agreements to process over 2,500,000 transactions per month and will process over 200,000 transactions in June 2004."
Stephen Walters continued, "The introduction of the MedLink solution to the Brazilian market is going to be a model for our success. We plan to capitalize on this opportunity in Brazil to form other joint venture agreements with private health insurance companies and healthcare technology providers on a global basis."
Walters concluded, "We truly believe that our leading software solution coupled with a world class business partner such as BearingPoint, Inc. will give us a significant advantage over our competition in our target markets."
Walters made these comments on a recent conference call with New York-based Empire Relations Group Inc.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 200,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 5/20/2004
Transax International Limited ("Transax") (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to advise that its wholly owned subsidiary in Brazil has successfully integrated the four largest medical laboratories in Brazil -- namely Fleury, Sergio Franco and laboratories under Diagnostics of America, Bronstein and Lamina -- allowing these institutions to undertake "real time" healthcare transactions.
Following integration of the laboratories to the Transax Network Processor plans are currently in place to integrate in excess of 100 work stations to the established network at these locations to undertake "real time" healthcare eligibility and authorization transactions on behalf of Bradesco Health Insurance and Golden Cross two of the largest health insurance companies in Brazil.
Transax expects to capture approximately 100,000 transactions per month following integration of the worksations over the next 30 days.
Transax currently has in place in excess of 2,500 installations collecting real time transactions on a daily basis having installed in excess of 1,500 solutions into medical provider locations in Brazil since January 2004.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 200,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 3/17/2004
Transax International Limited ("Transax") (BULLETIN BOARD: TNSX, Frankfurt/Berlin: TX6) is pleased to advise that its wholly-owned subsidiary in Brazil has commenced real-time health eligibility and authorization transactions for Bradesco Insurance, Brazil's largest health insurer (with approximately 2.5 million lives insured) and a subsidiary of Brazil's largest financial institution -- Bradesco Bank.
Transax's own in-house system integration and development team has successfully installed its "Medlink" solution into a number of medical clinics in Brazil which are now undertaking real-time transactions in the fields of urology, cardiology and orthopedics for Bradesco Insurance.
Plans are also currently in place to put the four largest medical laboratories in Brazil online, in order to allow them to undertake real-time eligibility and authorization transaction for Bradesco Insurance. System integration and development work is being handled by Transax's in-house team and is expected to be completed by the end of March 2004.
Stephen Walters President and CEO of Transax stated, "We are proud to be associated with Bradesco -- Brazil's largest health insurance company who are now able to undertake authorization and eligibility transactions in 'real time'. We look forward to undertaking a major roll out of our "Medlink" solution for Bradesco Insurance during 2004 in order that they can gain the economic benefit of our solution."
About Transax International Limited:
Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 200,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
PR Newswire; 1/28/2004
Transax International Limited ("Transax"), (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to advise that it has successfully commenced overlapping installations of its Point of Sale (POS) solution and Interactive Voice Response (IVR) solution for two signed contracts in Brazil. This technological achievement developed by Transax where multiple insurers are able to use one solution is planned to save Transax major capital expense as it undertakes its roll out plan on multiple contracts during 2004.
The Company further advises that Embratel (partly owned by MCI), the premier telecommunications provider in Brazil with the only nationwide network, has previously been contracted by Transax to provide a nationwide 0-800 link to the Transax wholly owned "Medlink" Network Processor. This development, to be completed in a further 60 days, will allow Transax to offer a Brazil nationwide toll free 0-800 for "real time" authorization and eligibility of health insurance claims by Interactive Voice Response (IVR). Transax is the first company to offer such service on a nationwide basis to Brazil's health insurance companies, medical providers and medical co- operatives. In order to provide "Total Connectivity" the IVR solution has been specifically designed by Transax at the request of the health insurers to fill a technological gap for lower volume medical providers who may not have access to or may not wish to use more technologically advanced solutions developed by Transax.
Transax currently has in excess of 1,200 IVR solutions in place and plans to complete approximately 12,000 IVR installations during 2004. During the first 20 days of January 2004, the company has successfully installed more than 500 IVR solutions for Brazil medical providers. When fully installed, Transax expects to undertake approximately 400,000 transactions per month from the IVR solution alone under the two contracts in place. In addition under one other contract Transax plans to undertake a further 20,000 IVR installations during 2005.
On January 23rd 2003, FinancialWire.net issued a news headline following Transax's high trading volume the day following the release of the Company's Business Update. FinancialWire wrote that "Transax is believed to have recently terminated its relationship with ICI, and it's not clear what equity interest or options ICI may currently have in the company." The Company clarifies that it has disclosed in its most recent Form 10-QSB, filed with the SEC on November 19th 2003, that the consulting services agreements with ICI and its related company, IMT AG of Zurich, Switzerland have both been terminated, effective September 30th 2003. The Company further disclosed the resignation of Mr. Grant Atkins, as director of Transax and consultant to ICI, the resignation being effective October 15th 2003. Finally, the Company disclosed the details regarding the settlement of debt with ICI, IMT AG, and their designates and assignees, following the termination of the consulting services agreements.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the real-time automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease insurer total expenditure (running cost) by 3%-5%. Transax provides "Total Connectivity" to the health insurance industry. Transax's "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in real-time. MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in real time regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 150,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation
PR Newswire; 1/20/2004
Transax International Limited (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to announce that during December 2003 its wholly owned subsidiary in Brazil passed a significant milestone of undertaking its one millionth "real time" health insurance claim transaction during fiscal 2003 -- the first year of operation using its proprietary "Medlink" solution.
The company is currently proceeding with roll out of two signed contracts in Brazil estimated at six million transactions per annum when fully rolled out. During January 2004 roll out has increased significantly to an annualized rate of around 1,800,000 transactions. Transaction rates and revenues are expected to increase throughout 2004 as roll out of solutions for these two contracts proceeds.
On November 3rd 2003 Transax announced it has signed a two year contract with Bradesco Insurance for health insurance connectivity, eligibility and authorization using its "Medlink" solution. Bradesco Insurance is a wholly owned subsidiary of Bradesco Bank -- Brazil's largest financial institution and Brazil's largest health insurer with approximately 2.5 million lives covered.
Subsequent to this announcement Transax is pleased to advise that it has completed the technical developments to place this major contract into production and is in the process of installing a full back up facility through "Optiglobe" the premier data center in Brazil. Beta testing is shortly to be undertaken. Following a series of presentations to Bradesco Insurance executives demonstrating the benefits of its "Medlink" solution, Bradesco has authorized Transax to commence the installation of its solution in seven medical laboratories including the four largest in Brazil. Transax plans to place the Bradesco contract into production prior to the end of January 2004. Based on the roll out objectives, Transax estimates the first full month of operations of the Bradesco contract should generate approximately 200,000 additional transactions from the four largest medical laboratories in Brazil alone. Transaction volumes are expected to rapidly increase as roll out proceeds during 2004 through the installation of 2200 "real time" connectivity solutions.
Transax's wholly-owned subsidiary in Brazil has three contracts in place covering 3.3 million lives and other contracts in various stages of negotiation. These signed contracts are expected to generate transaction revenues of up to US $10 million per annum when fully rolled out.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the real-time automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease insurer total expenditure (running cost) by 3%-5%. Transax provides "Total Connectivity" to the health insurance industry. Transax's "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in real-time. MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in real time regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 150,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other contracts in various stages of negotiation.
PR Newswire; 11/3/2003
Transax International Limited ("Transax"), (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to announce that its wholly owned subsidiary in Brazil, TDS Telecommunication Data Systems Ltda (to be renamed "Transax Brasil Ltda") has signed a two year contract with Bradesco Insurance for health insurance connectivity, eligibility and authorization using its Medlink solution. Bradesco Insurance is a wholly owned subsidiary of Bradesco Bank -- Brazil's largest financial institution.
Bradesco Insurance is Brazil's largest health insurance company with approximately 2.7 million lives covered. The contract with Bradesco which is expected to take up to 12 months to roll out and will generate approximately 2 million medical transactions per month to Transax.
The contract estimated to be worth in excess of US$15 million in transaction revenues is the culmination of over one year's co-operation for Transax and the development of a highly successful pilot project specifically for Bradesco Insurance.
Transax Brasil is expected to immediately complete the required technical developments in order that the contract may be placed into production within a 45 day time frame.
Transax Brasil has contracts in place covering 3.3 million lives and other contracts in various stages of negotiation. These signed contracts are expected to generate transaction revenues of US$10 million per annum when fully rolled out.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the real-time automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease insurer total expenditure (running cost) by 3%-5%. Transax provides "Total Connectivity" to the health insurance industry. Transax's "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in real-time. MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in real time regardless of location or method of generation. Currently operational in Brazil, Transax currently undertakes over 125,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other contracts in various stages of negotiation. Transax Australia Pty Ltd is the preferred supplier for connectivity, eligibility and health insurance authorization for the first health related credit card in Australia using Smart Chip technology expected to be rolled out in early 2004.
What is the update on the UDH rollout. This was a pilot program for the US market. They became HIPPA compliant with this. In the US personal information is strictly protected under HIPPA regulations. This would have proven the concept in the US and showed up potential HIPPA problems.
After going back news releases from 2003, I see nothing to think this company is not very interesting. Growth seems to be slowing right now, but they are also much bigger. In 2003, I think sales were about $300,000 for the year. They just did under $1 mil in sales for the quarter.
They expect 2006 be be about 50% greater than in 2005. Still good numbers. Brazil is now cash-flow positive.
What happens in the US will greatly determine upcoming growth. They are expanding in the rest of Latin America, etc, but I think the US is what they need to conquer.
I am very interested to see what they can do. It seems they do a lot of work for processing lab fees. They recently added biometic scanning of finger prints to combat fraud.
This company has a lot of potential. Still need to find out about US competitors.
Crabbermike, can you contact UDI and find out how things were going? Were there any snags?
Thanks! I hope this info helps.
At some point, I plan to post all the past earnings annoucements going back to 2003.
TNSX: $0.18
Ajor
***Business Wire; 12/13/2005
Search for more information on HighBeam Research for tnsx.
CORAL SPRINGS, Fla. -- Union Dental Holdings, Inc. (OTCBB:UDHI) - http://www.uniondental.com - a provider of multi-state dental services for union members, is pleased to announce, that its Strategic Alliance partner Transax International Limited (OTCBB:TNSX) has completed critical components of a HIPPA (Health Insurance Portability and Accountability Act 1996) compliant version for software solutions in the medical and dental industry.
The Solution is an internet browser-based application developed under the Microsoft.NET (NASDAQ:MSFT) platform. The server solution has been developed in Java and operates as a front-end to a number of Practice Management Systems already installed in large clinics, dental offices, hospitals and laboratories.
President and CEO of Union Dental, Dr. George D. Green, stated, "We are very excited about the development of this solution for the dentists in our dental network and we plan to introduce this to our members sometime in 2006 after we do the Beta testing in our dental office in Coral Springs."
The Solution processes "on-line" and "real time" eligibility verification, claims submission and claims adjudication in a single pass environment. The proven solutions reduce medical, dental, operational and administrative costs for both payers and providers and are now HIPPA compliant.
UDHI intends to add a fourth additional solution feature for dentists in its network allowing them to receive payment for procedures performed within a 24-36 hour time frame for all adjudicated claims.
Dr. Green further stated: "As a practicing dentist, receiving payment for services rendered in that short period of time is a major breakthrough for all practitioners in our field and UDHI would receive a fee for this payment solution. Currently there is no system that I am aware of which can verify eligibility, submit claims, adjudicate the claim and have payment in the 24-36 hour time period in an `on-line real time' format."
The Solution can be used by any medical or dental provider that has access to the web through a standard browser.
Dr. George D. Green Goes "Beyond the Press Release"
Please join Dr. Green as he goes "Beyond the Press Release" to provide shareholders with an audio address that further discusses and explains the strategic importance of the HIPPA Compliant Web Link Solutions. The address will be available on the Union Dental Investor Relations Hub at http://www.agoracom.com/ir/uniondental on or before December 19, 2005.
This press release is available on the company's official online Investor Relations HUB at http://www.agoracom.com/IR/UnionDental for all investor questions, answers and discussion within a monitored environment. Alternatively, investors are able to e-mail all questions and correspondence to UDHI@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries and provide dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America ("CWA") and International Brotherhood of Electrical Workers (IBEW) Dental Networks. Union Dental Corp. receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. DDS/UDC has contracts with CWA & IBEW Local Unions to provide a dental network utilizing the members existing insurance policy. The dentists in the Dental Network provide services in the areas for union members, as well as existing patients in exchange for an annual management fee. The network of dentists accepts payment from union insurance plans for services rendered as payment in full, with certain procedures requiring a small out-of-pocket co-payment from the union member patient. In addition, Union Dental Corp. acquired the assets of an existing dental practice (excluding the patient list) and successfully integrated those assets into its existing practice which has been servicing patients for 17 years in Coral Springs, Florida. UDC and DDS are wholly owned subsidiaries of Union Dental Holdings, Inc.
Website: http://www.uniondental.com***
Eamendasdaq, I can't reply with private messages as that would cost me nickels. But I'm actually getting used to BIGN going up. I have no faith in the company, but and I do belive that BDGR has more real potential. But who knows?
BIGN has been going up on high volume. That is good for you. But BDGR is doing well also, so hopefully it will continue. The last week was within normal trading for the most part, especially when one considers all the buying continuing to take place on a regular basis.
Hopefully the race between BDGR and BIGN will continue to do well and it will be neck and neck up and up. But BDGR has some history behind it and so does BIGN, so who knows?
But my money is on the stock that has been producing. But it is interesting watching you at play. You have rivaled me, if not exceeded me at this time with your picks.
Ok, back to rival mode: Do you know where Tyche is incorporated at? Have you called the SEC of Canada and the US to see what they have to say?
BDGR: $1.51
BIGN: $0.05
Ajor
Crabbermike, thanks for the update. I'm not thrilled about Cornell and I doubt the company is either as they had taken Cornell out of a deal once already. But it is nice to have options.
I would like to have a specific name and location of the competitor in Brazil. Brazil itself is a fairly good market, so that is not all bad. But to make it in the US would mean the stock would probably skyrocket and probably be bought out by a bigger fish who could really grow the business.
But I don't know enough about things yet to know how good it might be. Certainly getting the providors their money faster would be of interest and to get the invoices settled less expensively for the insurers would be appealing. But often the delays in paying help the insurance companies, so I'm not sure where the benefit would be for the insurers. That is one thing I'd have to look into more. Also, if they get US clients to accept the plan, that would mean a lot as it would prove the concept (especially if the piolet programs expand).
Anything involved with medicine has the potential for really large growth and returns. But is direct payment really going to pay off? It might have its place where insurance companies can agree to pay even less than they do now in exchange for quick and simple payments via a TNSX system. I need to know how it works in Brazil and how the Brazil medical system might differ from the US. For instance, does Brazil have a nationalized healthcare system, or something of the sort. The US system, as I understand it, is somewhat unique trusting more in the power of the indiviual to take care of himself or herself.
Also, I'm wondering how hard it would be for new competitors to offer similar or better products even if TNSX starts to look promising. The higher the barriers to enter a TNSX market, the more likely TNSX is to survive.
I will definitely be calling the company at some point. Any input you give in the meantime is appreciated.
Ajor
How is VRDI, etc, that you once pumped? In fact, if you did not own a stock that I also owned, like SUWN, then it is down from your first pump. BIGN is hot air, and you know I sold my BIGN to buy many great stocks in the meantime. While BIGN floundered, I made much more than just 131%. SUWN alone, which I bought AFTER I sold my BIGN, was up a over 400% alone. Do you doubt me? Look it up on the Ragginbull board. I posted my buy @ $0.20 and sold over $1. You, as I recall, sold around $0.60. Wrong on that, but at least you made money.
VRDI you pumped around $0.06 and it went to about $0.21 and you said it would make it to $0.50 and I said it was not worth even $0.06. In fact, I predict in three years it won't even sell for $0.01.
Regarding BIGN, have fun while it lasts. It will disappoint. So, where is Tyche incorporated at?
You say it doesn't matter, but you should know better. Also, they changed the date for it to be given. Is that possible? Will all that dilution come when you don't expect it?
We'll see. Of course, dilute what?
Regarding BDGR, you must be surprised that it did not fall today. You once thought it would not even reach $1.00, even after it had already reached $0.99 a day or so before your bad prediction.
Now, BDGR is $1.50. I have not sold or traded one share. We'll see how I do
Oh, congrats anyway on BIGN. This was a very bad week for me: BDGR fell every day and I had to watch BIGN go up every day!
At least today was more normal. BIGN was up slightly, but BDGR was up much more. May we have more of that normal behavior in the future!
Ajor
BDGR: $1.50b $1.51a 564,000 shares traded for the day.
OMOG continues to fall. Now $0.0052a.
I think we had preferreds convert or shares used for purchases being sold that were previously restricted. It is also possible that manipulators are now selling after a pump, but I don't think that is what is happening here. I think BDGR is for real, although producing 4-6 months behind past predictions. With some predictions like the audited financials, it is more like a year behind. But I believe they are coming now. The company is big enough and has enough assets to make things happen.
Of course, it would be nice to have cleared up the OMOG property controversy with a settlement, but BDGR will do well without one, too.
Ajor
That was odd. Now $1.53b $1.55a. It rose quickly. I looked for news but did not see any. Now 216,000 shares traded.
See, too much buying. I think at some point this will take off. But it is "making me work" these last few day.
Ajor
BDGR: $1.42b $1.43a 142,000 shares traded with 4.25 hrs to go.
The selling continues. Perhaps not as strong, but it does conintue. Likewise, the buying continues.
I noticed the outstanding shares increased by 5 mil shares. I'm wondering if all the preferred recently converted, or what. This does not look to be panic selling, but, rather, like one who is cashing in his/her profits. These could be from preferred shares being converted into stock and then being sold, or from shares used in acquisitions being sold after a lock-up period. The stock has risen nicely, so this would make sense.
But it appears buyers continue to buy as the shares are being sold. It is as if one party is saying, "great, we can pick up all these shares" and the other party is saying, "great, the stock rose and we can now cash in on our investment at a good price."
Or is it just a stock manipulator just selling shares after the big pump? There is only one way to find out. And that is the hard way. Holding through the changes.
But there is an orderly way for sales, and a disorderely way. So far, it has been an orderly changing of shares. Hopefully, however, they will not trade shares at much lower prices than we have currently.
BDGR as well as it appears to have been doing, is not without its controversy so holding this stock as it falls does have its risks. However, I think this company will ultimately produce. One just has to be patient (as if a double + in a few months isn't good enough).
The trading so far today seems to be slightly more orderly than the past.
BDGR's CEO is out of the office for the next few days or I would have spoken to him already.
Ajor (just changed to $1.46b $1.49a)
BDGR: $1.46B $1.48B It seems to me that if the buying of the last week continues and the selling is mostly ended, we could easily see $1.90+ today. Now, let's see if things get more interesting. BIGN has begun its decent. Too bad Eatmenasdaq doesn't use more than charting to find worth in a company.
BIGN: $0.039b $0.04a
Ajor
TNSX: $0.18b $0.20a It seems to be holding its recent gains. This company has a lot of potential, IMO. My "spider sense is tingling," although I do not currently own a position in it. I'm still waiting for BDGR to do what I think it can do which is well above its recent high of $2.40 (now $1.40).
It is my hope that TNSX will not be too high before I can flip a nice position into this stock if it holds up under closer examination. I actually hesitate to post too much info on this tread since I don't want to attract too much attention to it.
But it was just to interesting a stock to have ignored and my friend Crabbermike was hot on this stock and I wanted to give it at least some of the acknoweledgement I felt it deserved.
Anyway, I'm still holding my BDGR through some strong stock selling in it. BDGR just reported another 5 mil in newly outstanding shares. I'm not sure if that was from the preferreds converting, or from more shares being issued. I'm going to find out soon and post about it on the BDGR thread. Maybe some of the preferred shares were being sold to cash in their profits, or maybe the company used shares for its most recent purchase.
Anyway, I continue to track the TNSX story. TNSX does need to raise some capital. If I like this story, maybe I'll try to work out a private placement with them to get some shares that way. This would help me buy shares at a better price, and help the company by raising more money. But that is just an abstract thought at this time. I have not dug deeply enough and I'm very curious to see how the US endeavors go.
They sky is the limit if they can execute this successfully. The potential might be the greatest I've seen on any stock so far, but there are some VERY big BUTS included in my statement so I need to understand the product better and its competitors and its offering and liklihood of selling well and profitiably in its target markets.
Does anyone know who the competitors? Who is offering solutions to the same problem? Someone must be. Who is your source?
BDGR: $1.46b $1.48a
Ajor
BDGR: $1.43b $1.45a. Some people, like those who own BGIN, aren't able to fundamentally analyze a company, and go by the charting as their main source of info. I find value in charting, too, but it is always secondary to the fundamentals unless overwhelmingly strong. In the case of BDGR, the fundamentals and the chart have not diverged enough, so I have not sold or traded one share. BDGR is just below the low trading I expected and perhaps that warranted some sales, but because I have seen such large blocks on the buy at the same times as the sells, I have decided to not sell or traded any shares.
For, you see, I follow fundamentals, too. And I beleive a lot of important news is in the works and when these pieces all fall into place, as they have been all year long, this stock will go much higher.
What pieces am I talking about? I expect audited financials, more acquisitions (we saw a few small ones yesterday but I expect largers ones, perhaps), a very successful drilling program later this year, and possibly an AMEX listing, especially if the stock price keeps going up as it currently has been (yes, I say that despite the last 7 days hard retracting).
Let's see how Ajor does. So far this is just a stop on the train that is going to glory-land. Well, at least that is the hope.
Now, for BIGN holders, you celebration is over. How high can they really pump a stock worth, perhaps, $0.01? It is now $0.049b $0.05. I can't help what a stock price does. They go up sometimes on hype. Some say that is what BDGR has done. I say that is what BIGN has done. We'll see in the coming months who was right.
Eatmenasdaq, I am up over 100% on my BDGR holdings. How long do you really think BIGN will stay up. How do you think Grimes #1 is doing? What happened to the hydroslotting talk in most past press releases? Aren't they going to hydroslott in Texas? How much do you think Hydroslotter (Skip, Bonhomme, etc) took for that Grimes #2 well. Did you notice the cost of Grimes well #2 was never mentioned. It might take a while longer to pay that one off! I don't know where the surprises will continue to come in with BIGN, but I do expect them to come.
Ajor
***As of 5-24-2006 there are 40,108,092 shares outstanding for Black
Dragon
with 250,000,000 shares authorized.
Thank you***
On 5-11-06 there were just under 35 mil shares. Now, have all the preferred converted to outstanding shares, or do we still have 7 mil preferreds, too?
Are today's purchases using shares to purchase these new properties?
In any case, BDGR continues its steady rise upwards in revenues and profits. Later this year things should get much more interesting. Not long ago we had a very hard time getting over $1. Now we have been staying around $1.40. Really, we are still doing quite well.
I see one faithful shareholder gave up the ghost today as posted on RB and sold most of his shares just before today's news.
There is both a lot of selling and a lot of buying. Eventually, I think the buying will win, but who knows?
It certainly is not as fun to watch it fall as it was to watch it rise.
I have not sold or traded one share. I'm not sure if that is good or not!
BIGN is rising on air. I'll be there for the deflat. I noticed they stopped tauting hydrslotting in there recent news releases. Won't they be surprised when that profit siphoning venture is no longer pumped. What will be next? It looks like Texas oil rather than CA Grimes wells.
OK, BDGR still looks weak. There is strong selling constantly. Of course, if we did not have very strong buying, too, this stock would be below $0.60 already.
PacMan is out their. But he must be fighting too much with his relatives.
5,000 shares blocks went through consistently, but the selling was just a bit more heavy. One side will peter out first. Which side?
We'll see what the months ahead bring.
BDGR: $1.40
BIGN: $0.05
Ajor
BDGR: $1.53b $1.55a. It has been a wild week. Up to $2+ for brief periods for two days, and then as low as $1.40. For now, the selling appears to have stopped. It seemed it stopped yesterday when a 115,000 share block finally went through.
We should be poised for a nice rise if no more large block sellers come up again. I have not sold or traded one share of BDGR. Waiting for some news. Much good news is coming up. I'm looking forward to the audited financials. That should give this company a lot more options and a lead to a new exchange, possibly, if not likely, the AMEX.
I saw us trading at a low of about $1.45. We pushed that hard and even briefly passed it yesterday. It is nice to see the selling slow down. I wonder if a large block had been put up to sell and it just sold and sold until it was done being sold (yesterday, I presume).
135,000 shares have traded today with 5 hrs to go.
Commodities in general are having their first OK day in a week. BDGR was under heavy pressure along with the commodities. I have not sold one share of my Precious Metals Mutual funds or Emerging Markets. I took a very big hit this past week. The hit is so large I'm not even looking at the amounts each day. I'm still up more than most for the year, but I gave back a lot of gains. This drop in gold, etc, was larger and faster than I had expected.
In any case, nothing has really changed so I expect things to settle down, but who knows? If it doesn't, I'll start selling some each day to protect my nickels.
Eatmenasdaq, have you finally figured out where Tyche is incorporated at? Or isn't it? You guys/gals are so funny on the BIGN thread.
BIGN: $0.033b $0.035
Opps: BIGN: $0.032b $0.033a
BDGR: $1.54b $1.55a
Ajor
tnsx had an intersting day today. I'm hoping it does not run yet for my own selfish reasons, or that if it does run that it does not run faster than BDGR which is floundering right now around $1.80.
I'm not in TNSX right now, but I do find it exciting. So many investors chase worthless stocks, and when a nice company like this comes up, no one pays attention.
TNSX needs cash, but if it keeps growing like it has been in Brazil, that won't be a problem. The US market is were they can really explode.
One thing that concerns me is that it would appear that if the market was truly strong, I would think that the medical field itself would more than keep it busy. This gives me some pause to wonder what the true value of their offering is. Or maybe the medical field is just slow to move so in the meantime they need to drum up different business.
When/if this product takes off in the US, this stock should go up and up. I see this potential and if I was not so sure about BDGR, I'd probably have a position in TNSX already to give me more inventive to do research.
Anyway, I'm glad this board is getting posts. I think if BDGR doubles one more time, I may sell some of it and then buy some TNSX, but that could take a few months.
I was hoping TNSX would sleep a bit longer, but with the US prospects developing, I can understand why it is not.
Crabbermike, nice find.
TNSX: $0.195
BDGR: $1.77
Ajor
TNSX: $0.195b $0.20 757,000 traded. 50 min to go. EOM
Eatme, of course you had ELN @ $3.00! But I had it from $5.09 to $16! Again, that last double is worth more than all the previous doubles. And if you liked ELN and still do, then we agree.
But BDGR is the best right now. Too bad you sold your BDGR. I'll make more on that last double than all those who held before me.
Eatme, I hope you are taking notes
BDGR: $1.82b $1.86a
ELN: $17.75b
BIGN: $0.0235b $0.024a
Ajor
TNSX: $0.175b $0.18a EOM
OMOG is funny isn't it. This seems to show either gross incompetence on OMOG's part, or a cry-baby attitude or maybe everyone Adam B from OMOG knows is a crook.
I thought the news was very bad for OMOG.
BDGR: $2.03b $2.07a
OMOG: $0.0085
ajor
Oh, you're up 900% on a stock and you didn't tell me about it?
That's it. I'm not going to tell you what BDGR is going to do in the morning
Did you notice that 500,000 shares traded in the last 10 minutes. I'm not sure what to make of that. I was fairly sure it was going to go back up, but the breath of the rise and power of it surprised me. It went up so fast, I'm not sure even the market makers know where it ended. I hope that wasn't the last blast before deflation. I supect not, but who knows.
Eatme, were you really kicked off of RB? If so, I had NOTHING to do with ANYONE getting kicked off as I have never complained. I miss you there. Get another name.
I've been doing well this year. I think this is my best year ever, so far. These micros are perfect for me. You seem to do rather well, too.
Regarding BIGN, it is interesting. If BDGR goes up wildly and I need to sell some, I'll consider playing with you if it continues to stay strong. The hype is unrelenting. That should be good for a bigger pop, eventually. I'll have to think about it.
Anyway, too bad you sold your BDGR. This could be pre-AMEX buying. If so, $7 would be reasonable and if it is for that, the buying shouldn't stop until it reaches that. But who knows?
BDGR: $2.00
BIGN: $0.029a
Ajor
Crabbermike, this company seems short of cash right now. Have you considered trying to buy some private placement shares? Are they offering any and with what terms?
This company needs at least $2 mil to finance it minimally. Considering how broke it is, the stock really does not sell for a bad price. It think that is a reflection of its potential.
Also, do you know who their competitors would be?
Anyway, it sounds very interesting.
TNSX: $0.135b $0.1399a
BDGR: $2.00
Ajor1
***Your encouragement allowed me to stay in BDGR through the attacks. I sold yesterday to buy AURC.***
I'm glad my opinions and words helped you take in a few nickels. I'm still looking at TNSX, but I'm kind of excited about it. I seem to be finding one gem after another. Of course, I'm still considering my opinions, but this appears to have the makings of a winner.
TNSX: $0.135b
BDGR: $2.00
Ajor1
Here is the news today that impressed me:
***MIAMI, FL,--(MARKET WIRE)--May 10, 2006 -- Transax International Limited (Transax) (OTC BB:TNSX.OB - News), a network solutions company for healthcare providers and health insurance companies, today announced it has signed an agreement to rollout a pilot program with National Health Services (NHS), a healthcare marketing and consulting company offering health services and solutions to health plans, employers, self-funded employers, banks, and insurance companies throughout the U.S.
ADVERTISEMENT
Under the terms of the agreement, Transax will be responsible for conducting real-time auto-adjudication, processing and payments for NHS member clients. The initial pilot program is with a healthcare provider network in New York City, NY. Upon successful completion of the pilot program both companies anticipate a full rollout of Transax's MedLink solutions to a number of NHS' client's including; health insurance companies, wellness programs, and self-funded health plans.
Transax will generate revenues in two ways under this agreement. As with existing clients, Transax will collect revenue on a per transaction basis for the delivery of its real-time billing and adjudication process. Transax will also receive additional revenues for provision of real-time payment to medical providers following the auto-adjudication of healthcare claims. The Company believes this model, with respect to real-time payment of auto-adjudicated healthcare claims, has not been previously achieved in the U.S. healthcare marketplace.
To date, NHS has access to approximately 17 million lives in the U.S. This includes two national multi-benefit wholesale discount health houses, two multi-specialty national PPO networks, and one national Third Party Administrator (TPA) insurance brokerage. If rollout is achieved as planned, Transax could potentially execute 400,000 additional monthly transactions through its relationship with NHS by the end of 2006, and over 1,200,000 additional monthly transactions by the end of 2007. As of March 2006, Transax was processing approximately 700,000 monthly transactions.
Elizabeth Gannon, President & CEO of National Health Services, commented, "Transax, with its cutting edge technology, offers a unique set of solutions which address key issues facing health insurers today. We are excited to offer the MedLink solution to our growing network of healthcare partners, many of whom are requesting alternatives to the high costs and time associated with processing claims and payments."
Stephen Walters, President & CEO of Transax, commented, "In partnering with NHS, we have the ability expand our reach dramatically into the U.S. healthcare market. NHS is recognized nationally as offering a comprehensive platform for the delivery of cost effective healthcare solutions. NHS' marketing of our technologies as part of their suite of solutions gives us great exposure and validates our business model to the U.S. market." Mr. Walters added, "With our innovative solutions and NHS' broad distribution and marketing capabilities, this agreement has significant potential for both parties."
About Transax International Limited
Transax International is an emerging network solutions provider for the healthcare sector. Utilizing its proprietary MedLink(TM) technology, Transax provides a service similar to a credit card processing for the health insurance and providers industries. A Transax transaction consists of: approving eligibility, authorization, auto-adjudication of the health claim and generating the claim payable files -- provided instantaneously in "real time" -- regardless of method of claim generation.
Transax's solutions have been proven to significantly decrease health insurance claim expenditures and healthcare provider costs. Based in Miami, Fl, Transax maintains a major operations office in Rio de Janeiro, Brazil with approximately 35 staff. The Company has contracts in place with major health insurers in Brazil for up to 2,500,000 transactions per month and currently undertakes approximately 700,000 transactions per month, for which Transax receives approximately $0.55 cents per transaction.
About National Health Services
National Health Services (NHS), a national healthcare services marketing company, offers access to innovative industry-wide healthcare and technology solutions for employers, health plans, healthcare providers and consumers. NHS offerings represent a fresh, actionable approach that provides real answers to today's soaring healthcare premiums. For more information on NHS and My Healthy Lifestyle®, visit www.n-h-s.com.
SAFE HARBOR STATEMENT: "THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN."
Contact:
Contacts:
David Sasso
Vice President - Investor Relations & Corporate Communications
305.629.3090
Email Contact
http://www.transax.com
John Tsemberides
ROI Group Associates, Inc.
212-495-0743
Email Contact***
--------------------------------------------------------------------------------
Source: Transax International
Crabbermike, thanks for the info. I initially did not like that this company was not in the US. Now that they apparently are about to successfully enter the US market, I am very intersested.
I plan to do more research myself. I'll post more as I get it, or mabye I won't. I might want to buy some shares first
In any case, I still 100% BDGR in my trading funds. It just keeps going up so how can I sell?
TNSX: $0.135b
BDGR: $2.00
Ajor1
Crabbermike, I hope you found your way here. I have not bought any, but I am very interested. Please post anything else you know. This could be a big winner, although it is still sleeping. ASPR was a disappointment, but maybe later in the year. In the meantime, I have been following TNSX since you posted about it on the ASPR thread. I really liked today's news about entering the US. That will be the ticket if successful and it sounds like it will be.
Haven't bought as BDGR is just too good to sell any. At some point I will sell some as it is growing larger and larger and I don't like to have too much of one stock.
Post here, and I'm going to add my research here, too. Right now, I'm sitting quietly on the idea until I have more time to get a better grasp on it.
TNSX: $0.135b
Ajor1
$1.99b $2.00 ask. Many shares traded @ $2.00. It doesn't even look like it wants to be in the high $1.90's anymore. Heck, I'm not sure where real selling will come. It just goes up and up. I think BDGR is going AMEX. That should be good for at least $3 more.
Still holding all my shares. Have not sold any or traded any.
Looks like Eatmenasdaq was wrong. I wonder what number he would give now for being resistence? $2? $3? What?
It is fun to see his technicals crumble under the heavy weight of fundamentals coupled with technicals. As I told him before, he really needs to learn how to analyze a company
Ajor1
Welcome to this new site. I encourge both postives and negatives to be posted. I am currently 100% invested in BDGR with my trading funds. BDGR is $1.99b $2.00 right now and rising each day. At some point, I suppose, I will have to sell some BDGR as it is getting to be too large of a holding for me. I first bought BDGR around $0.60. I'm looking now for when the time finally comes to sell some BDGR.
I'm thinking TNSX has potential. Since I saw no board anywhere for it, I thought I'd start on here.
TNSX: $0.135b $0.139.
Ajor1
Eatmenasdaq, todays news on BIGN was good-sounding, but I highly doubt it was good. But I would be estatic if I were you.
But keep me in the skeptics corner. Sorry for the posts today on the BIGN board. I just wanted to keep a dose of reality. Have fun with BIGN tomorrow. I think you have a good chance of doing very well tomorrow. Look for those mirror trades. If they show up, I'd dump a bit of them, but who knows?
Anyway, congrats to the good news. Should be fun. I'm all BDGR still, but BIGN should be fun for you.
PS: You were wrong about not breaking $1.70 .
PSS: I saw how good BIGN looked lately
Ajor1
Laptop, they can get the court ruling, but that doesn't mean they get any properties. Then, they'll have to fight for each and every each of success. Of course, there will be delays and rescheduled hearings, and missing properties, and lease signatures, and environmental problems, and debt to fight over and other encumberances.
No, this is very, very ugly. It must be settled. It is probably best if BDGR just buys Adam out.
Also, the entire issue hinges on some preferred shares that were issued but accidently not registered. Even though the prefferred were not properly issued, does not mean that the theif (raider) Adam from OMOG and OMOG itself should unjustly benefit at the preferred shareholders expense.
BDGR has been doing very well recently. I wonder what is up?
Eatmenasdaq has no clue. On a side note, Eatmenasdaq, I'm not going to keep posting on BIGN . . . for now.
But feel free to post about BDGR. I enjoy the sport. You will be wrong, IMO, if you believe BDGR is not going to go . . .
BDGR: $1.69b $1.70a
BIGN: $0.026
Ajor1
How's VRDI doing? Should I dig up your pumps on that one? I think I'll repost them for the BIGN thread and my early posts on BDGR.
Ajor The future tells all.
Eamenasdaq, I will post a large recap on the BIGN insiders associated with those associated with manipulation soon. I expect to have it on RB by Monday. You and others can re-read it to see if what I am saying is true. Of course, I've posted this numberous times, and it is all public information, but since you are lacking in fundamental research, you should find my info enlightening.
Regarding BDGR, how wrong do you think you'll ultimately be? So far you have based BDGR from $0.45 on RB board to $1.70 now. What will you say at $2? $3? or more?
But what does poor Ajor know? Anyone got a doughnut?
Eatme, as usual, fun to spare with you. I look forward to more vindication in the future.
BDGR: $1.69b $1.70a
OMOG: $0.0088b $0.009a
BIGN: $0.026
Ajor1