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http://www.dentistcoralsprings.net/
interesting if you haven't seen this
Union Dental Reports 902% Increase in Income From Operations for the 1st Quarter of 2012
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CORAL SPRINGS, Fla., May 3, 2012 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members announced the financial results for the quarter ending March 31, 2011. In the Consolidated Statement of earnings the Company reported income from operations of $133,600 on revenues of $1,124,992 as compared income from operations of $12,975 on revenues of $1,110,356 during the same period in 2011.
Dr George Green, President and CEO stated: "We are extremely pleased with our income growth over the prior year. Creating this income while building out our expansion facility at the same time was a very tedious, well planned and effectively orchestrated by all of our staff. I hope, with guarded optimism, that we continue the upward spiral."
Union Dental Reports an Audited Profit for Year End 2011
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CORAL SPRINGS, Fla., April 10, 2012 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) (UDHI, Trade ) www.uniondental.com/ir -- a provider of multi-state dental services for union members, announced today its audited revenues for the year ending December 31, 2011. The audited revenues from operations as compared to the same period for 2010 increased one percent to $3,993,336 from $3,857,434.
The Company's Audited Consolidated Statements of Operations for December 31, 2011 reflects a profit of $56,401 from operating income as compared to a profit of $576,399 during the comparable period in 2010. The lower profits are directly related to the costs and expenses associated with the build out of the new 4,000 square foot addition. The revenues are stagnant at this level without the expansion being operational. On April 15th, it will have been one year in the building of the new addition and this is now scheduled to open before May 1st.
Dr. Green, President and CEO, commented: "I am pleased we are again profitable especially in this dramatic worldwide economic downturn we are facing. Our small increase of income is directly related to not having enough room for all of our new and existing patients. We need our new addition to open so our expansion and going to the next level will be completed. It has been extremely frustrating having the infrastructure built with personnel, hardware and software and not having the physical facility ready in an appropriate time frame. We feel that problem will be solved in the next couple of weeks and we will be able to expand our business as planned."
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Good morning Al,
still around..... Optimistic? Somewhat....
I got a lot of time invested here....... would like to see green one day, with all my shares......did manage to average down a bit - but still high av price in relation to where we are now....
Moderator open again..... maybe it needs your stewardship? (smile).
Have a good day..... and maybe some upward movement...
OLMP is still in the house..... Maybe the well will run dry one day.
MAYBE NEXT YEAR?
MERRY CHRISTMAS TO ALL. TO ALL THAT MIGHT SEE THIS.
It's easy to feel your pain in the comments you write. As one who has been around AND former Moderator etc.
Is your opinion of Mr, Sarvis, Something like 'Birds of a feather flock together'?
Because a lot who visit this board still hold Mr. Sarvis and his actions in high regard (INMO)
Union Dental Reports Profits and an Increase in Revenues for the Three and Nine Months Ending 9/31//2011
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CORAL SPRINGS, Fla., Nov. 8, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members announced the unaudited financial results for the three and nine months ending September 30, 2011. In the Consolidated Statement of earnings the Company reported profits from operations for the quarter of $165,658 on revenues of $1,181,394 as compared to a profit of $198,613 on revenues of $1,100,686 during the same period in 2010. For the nine months ending September 30, 2011 the Company reported a profit of $155,768 on revenues of $3,209,740 as compared to a profit of $366,281 on revenues of $2,856,501 for the same period ending in 2010
Union Dental recently announced it has acquired the exclusive distribution rights for any dental related market for the Drinkable-Air (DA) Atmospheric Water Generation (AWG) machine sold in the USA including, but not limited to, dental offices, dental laboratories, dental equipment manufacturing companies and dental sales companies. www.drinkable-air.com
The Drinkable-Air machine is a patented Atmospheric Water Generator which produces pure water from the air. It eliminates all bacteria through its patented EnviroGuard™ Ozone Bacterial Control System and costs less than bottled water. The bacteria free water produced by DA's AWG and cost savings makes the Drinkable-Air machine a "Green High Tech" improvement for all dental offices. Since it takes the humidity out of the air, makes pure water, lowers the amount of electricity used in air conditioning the office and is more economical that conventional bottled water, it is a welcome addition to all offices that currently use a bottled water dispenser.
Since the machine can operate on any power source that creates electricity, one of the additional uses for the machine is in disaster relief where there is no water available but there is humidity. The Chameleon 12 AWG (one ton unit) holds five gallons of water and can make approximately 14 gallons of water in a 24 hour period at 46% humidity. DA also contract manufactures larger units for home and commercial use such as the Chameleon 1200 which makes approximately 1,200 gallons of water in a 24 hour period.
Recently Union Dental implemented an expansion program to double the size of its dental facility in Coral Springs and received a $1,480,000 loan from Flagler Bank with an SBA guarantee at the current rate of six percent which is adjusted quarterly on the basis of Wall Street Prime Rate plus 2.25%. This loan consolidated all of the long term debt of the company plus included the funds for the built out of the expansion facility which includes all dental equipment to be fully operational upon opening. The expansion will be open in December of this year.
Dr. George D. Green, President and CEO stated: "We are extremely pleased that our revenues have risen and we have maintained profitability while incurring additional expenses in our building, financing and infrastructure expenses on our addition. Being the exclusive distributor for the DA machine in the USA for all dental related markets has already added some royalty revenues from sales of the product this past quarter and will definitely compliment our new expansion."
Contact Information: jhough@jcglobalsecurities.com
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants – Communications Workers of America (AFA-CWA). Direct Dental Services 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. Union Dental manages a dental practice in Coral Springs, Florida.
WEBSITE: www.uniondental.com/ir
NOTE: TO MANAGEMENT:
Here is a great PR, to put out and save some credibility,
In the interest of our 2000 loyal shareholders we have concluded that the PPS of our stock is greatly undervalued and decided to make an open market purchase of x amount of shares to show our faith and value of the company. IMHO.
Thanks for your honesty and opinion of what might be going on.
could it be inexperience? Pink sheets are a world of their own & not understanding the need for PR fuel & keepings one word could be hurting us as shareholders. Never seen him but he seems like a guy walking around with his head up in the air. It didn't seem to bother him when we were in 000's nor does it seem to bother him as the price diminishes. IMO
Stocrates, you go a long way back on this stock. Until now you have been a big fan of Mr Jarvis, and his not selling stock. What changed your mind? Remember this guy went 3 years without a press release,,,, back in the days when this traded in the triple zeroes,,,,,,,,, Perhaps he's arrogant? but is he really selling stock at anyprice?
Yikes! Batman, Holy Alchemy they're turning air into water!! That's nothing Robin, wait until they PR they're turning sand into gold..... that should bring some buyers in the store...
Union Dental Becomes Exclusive Dental Distributor for Drinkable-Air
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CORAL SPRINGS, Fla., Sept. 22, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members announced today it has acquired the exclusive distribution rights for any dental related market for the Drinkable-Air (DA) Atmospheric Water Generation (AWG) machine sold in the USA including, but not limited to, dental offices, dental laboratories, dental equipment manufacturing companies and dental sales companies.
The Drinkable-Air machine is a patented Atmospheric Water Generator which produces pure water from the air. It eliminates all bacteria through its EnviroGuard™ Ozone Bacterial Control System and costs less than bottled water. The bacteria free water produced by DA's AWG and cost savings makes the Drinkable-Air machine a "Green High Tech" improvement for all dental offices. Since it takes the humidity out of the air, makes pure water, lowers the amount of electricity used in air conditioning the office and is more economical that conventional bottled water, it is a welcome addition to all offices that currently use a bottled water dispenser.
One of the additional uses for the machine is in disaster relief where there is no water available and there is humidity. The Chameleon 12 AWG (one ton unit) holds five gallons of water and can make approximately 10 gallons of water in a 24 hour period at 46% humidity. DA also contract manufactures larger units for home and commercial use such as the Chameleon 1200 which makes approximately 1,200 gallons of water in a 24 hour period.
Dr. George D. Green, President and CEO stated: "We are extremely pleased to be the exclusive distributor in the USA for all dental related markets. This "Green High Tech" machine should add future revenues to the company and will definitely compliment our new expansion."
www.drinkable-air.com
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants – Communications Workers of America (AFA-CWA). Direct Dental Services 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. Union Dental manages a dental practice in Coral Springs, Florida.
WEBSITE: www.uniondental.com/ir
The Union Dental Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8310
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Dr. George D. Green, President
info@uniondentalcorp.com
Union Dental Reports Three and Six Month Revenues
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CORAL SPRINGS, Fla., Aug. 25, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members announced the unaudited financial results for the quarter ending June 30, 2011. In the Consolidated Statement of earnings the Company reported a loss of income from operations of $22,865 on revenues of $917,990 as compared to a profit of $324,522 on revenues of $1,144,655 during the same period in 2010. For the six months ending June 30, 2011 the Company reported a loss of $9,890 on revenues of $2,028,346 as compared to a profit of $167,668 on revenues of $1,755,815 for the same period ending in 2010.
Recently Union Dental implemented an expansion program to double the size of its dental facility in Coral Springs and received a $1,480,000 loan from Flagler Bank with an SBA guarantee at the current rate of six percent which is adjusted quarterly on the basis of Wall Street Prime Rate plus 2.25%. This loan consolidated all of the long term debt of the company plus included the funds for the built out of the new facility which includes all dental equipment to be fully operational upon opening. The new facility will be open in the fourth quarter of this year.
Dr. George Green, President and CEO stated: "Due to the downturn in the economy and uncertainty of financial markets our revenues were down in this quarter as compared to a year ago as patients put some of their health care needs on hold. In addition, part of the loss is directly related to one time costs with building the infrastructure for the expansion in addition to costs associated with our Flagler Bank/SBA loan, SBA fees, consulting fees and additional legal and accounting fees with obtaining the loan."
extreme downside......frustration WOW!....NEW LOW
extreme downside......frustration WOW!....NEW LOW
247MGI to Reduce Authorized Shares by 30%
FORT LAUDERDALE, Fla., Jul 18, 2011 (BUSINESS WIRE) -- 247MGI, Inc. (Pink Sheets: TOFS) ("247MGI") will file today Monday July 18, 2011 with the State of Florida to Amend its Articles of Incorporation to reduce the number of Authorized Common shares the Corporation has from 5 billion to 3.5 billion shares, the Par value shall remain the same.
The Amendment will be viewable from www.sunbiz.org, the Corporation has also logged in to PinkSheets.com to make the adjustments to the Authorized shares.
The Company hopes to be able to begin posting more financial information by the end of the week on PinkSheets.com and believes a further reduction in the Authorized and Outstanding shares of the Company will happen again shortly.
The Company has no plans for any type of share restructuring for its Common stock.
The Company asks Shareholders to monitor PinkSheets.com for continued developments
Still 3 trading days left this week......who knows...... where this roller coaster will end. End up I plead....
THUG BEATING! IT'S LIKE A GANG ATTACK, WITHOUT EVEN THROWING A PUNCH BACK. Now we could use one of those great PR'S from a couple weeks ago, when they were coming out everyday. If this was a basketball game I would call a time out. You feel me? Anybody?
Union Dental to Double the Size of Its Coral Springs Office
CORAL SPRINGS, Fla., June 14, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members, announced today it is making plans to double the size of the current office space from 3,850 square feet to over 7,700 square feet.
The new facility will have 9 new operatories bring the total to 22 operatories, a business office, conference room and a separate entrance to accommodate the additional patients. As a part of the expansion, the space will have a second certified surgical operatory with two recovery rooms and a brand new hygiene center.
Dr. George D. Green, President and CEO stated: "We are extremely pleased to be able to expand our facility especially in this downward economy. I believe this expansion is directly related to our new advertising to the general public as well as our on-going advertising to union members as we have done for the past 25 years."
SENSIBLE TRADING?
Now that the stock has been deflated, sensible trading can and should commence.....Let's get this party stated, get off the wall and dance to an up beat, up price PPS.
WE FALL DOWN, BUT WE GET UP!!!
Mr. Sarvis, I know you are working your plan....Cograts!!.....I'm one of the "take it on faith believers", when we were in the 000's.....Still staying the course...... Now the picture is somewhat clear....why would I abandon ship?,,,,,Can't wait for the day looking back at this opportunity and laughing.....
Not that it's going to happen, or really needed----but an open MARKET purchase by your director.....Would quiet the naysayers for awhile,,,,,JMHO
PRE-MARKET BUY OF 20,000 SHARES... somebodys anxious?
Union Dental to Report Audited Financial Statement for the Year Ending 2010
CORAL SPRINGS, Fla., April 12, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) www.uniondental.com/ir -- a provider of multi-state dental services for union members, announced today it has engaged Malcolm L. Pollard, Inc., a Public Company Accounting Oversight Board (PCAOB) member to prepare the consolidated audited financial statements for Union Dental Holdings, Inc. for the year ending December 31, 2011.
Dr. Green, President and CEO, commented: "We are close to the completion of having our audited financial statements prepared. We have taken a tremendous amount of time to account for the current financial status of the company. Our company has grown over the past three years, in a down economic climate, and we feel it is in the best interest of the Company to have audited financial statements for our investors, financial institutions and investment bankers so they may have a complete and accurate picture of the Company's progress."
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Patience, I know.... I'm here for the long haul.... even manged to sell a few on the way up.....Had a GTC ORDER IN...
Quiet again.....what a difference a few days make......
Nice round trip on the pps. Holding here at 0.0060 + Would be a good way to close out the week......
MEMO TO CEO:
Have your new director, make a open purchase of stock to show his confidence in the company. A few million shares will do...
BLEW THRU 2 YR HIGH, LIKE A HOT KNIFE THRU BUTTER,,,,No chatter/
The 2 year high was 0.0080 -------
NEW 52w High -- LOT OF EOD ACTION------ pumped up volume?
Earnings soon?
Southern Home Medical Equipment Appoints Jerry Overcash to the Board of Directors
Jerry Brings 30 Years Of Experience In Developing And Expanding Technology And Human Capital Related Businesses
LYMAN, S.C., March 22, 2011 /PRNewswire via COMTEX/ -- Southern Home Medical Equipment, Inc. (Pink Sheets: SHOM), a Holding Company providing healthcare services, healthcare professionals and equipment to medical institutions, today announced that Jerry W. Overcash has been appointed to the company's Board of Directors.
"This is an exciting time for Southern Home Medical Equipment," said Jeff Sarvis, CEO. "While we continue to focus on improving operating results from the existing business, we believe that there are additional opportunities for growth in today's market. We are thrilled to have someone with Jerry's experience. His expertise in the diversification and expansion of companies from start-ups to pre- and post-IPO environments will help to capitalize on those opportunities."
Jerry Overcash brings over 30 years of experience starting, developing and expanding technology and human capital related businesses. His focus has been to help companies create value for their clients and shareholders. Mr. Overcash has held sales, marketing and executive management positions in a number of technology companies focused on supply chain, corporate compliance and human capital management. This includes tenures at Manugistics, Elogex and Arzoon from the supply chain industry and Peopleclick and Intercede in the human capital and risk management arena. He is currently President and CEO of Intercede, a privately held risk management and concern reporting solutions vendor with a global fortune 500-client base.
"The hard work and dedication of Jeff and his team have created a strong foundation for Southern Home Medical Equipment. Throughout my career, I've participated in the emergence of companies through two successful public offerings, mergers and acquisitions. I am looking forward to working with Jeff to help Southern Home Medical Equipment realize its full potential," noted Mr. Overcash.
About Southern Home Medical Equipment, Inc.
Southern Home Medical Equipment, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. The Company has quality health care professionals to support hospitals, rehab centers, nursing homes and other medical facilities providing RNs, LPNs, CNAs, RTs, Billing Specialists, Customer Service Specialists, Delivery Techs and Marketing Reps. With contractual agreements with partner businesses in Charleston, Columbia, Greenville, Florence and Lake Hartwell, South Carolina; Nashville, Tennessee; Baltimore, Maryland; Dunwoody, Georgia; and Philadelphia, Pennsylvania. Southern Home Medical is leveraging the success of these business models to expand sales opportunities in these areas with health, medical and equipment needs.
Forward-Looking Statements
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
Selling at 0.004
Selling at this level is prudent and profitable for some, with a short horizon. This stock has risen mightily and profit taken is profit pocketed. However my view in light of what has been revealed is to stand fast, and wait for the really good times to sell. We have here a stock that hasn't put out an PR in over 2 years, to do 2 in less than 1 month. Sounds like an motivated CEO TO ME.....IMHO
NEWS....
Southern Home Medical Equipment Engages Northern Virginia Based Waterford Holdings Group to Evaluate and Consider Acquisition Candidates in the Mid-Atlantic Area
LYMAN, S.C., March 15, 2011 /PRNewswire via COMTEX/ -- Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a Holding Company providing healthcare services, healthcare professionals and equipment to medical institutions, has targeted the Mid-Atlantic region for expansion and growth. After two consecutive profitable years, zero long-term debt, the company's management believes it is poised to pursue additional revenues and growth opportunities.
Waterford Holdings Group specializes in targeting and financing acquisitions, particularly in the Mid-Atlantic States. Brian August, CEO of Waterford Holdings remarked, "We see this as an excellent opportunity to merge privately held assets into a stable, conservative public entity like Southern Home."
Jeff Sarvis, CEO of Southern Home Medical Equipment states, "It has long been our desire to grow outside of the Durable Medical Equipment Industry. We feel that Waterford Holdings can provide us with suitable acquisition targets that will allow us to utilize our assets and expertise to obtain additional channels for our products and services, or provide us additional opportunities in the area of service providers in the rapidly expanding healthcare market."
About Waterford Holdings Group LLC.
Waterford Holdings Group is a boutique investment and consulting company specializing in equity, debt, and mezzanine financing for small businesses. The company was founded in 2007 to fill a niche market for small businesses that were rapidly being deprived of capital financing from larger institutions as the credit crisis began. The company has grown quickly and today has multiple investors and ownership interests in numerous private and public companies. Founder and CEO, Brian August, holds a BA from Cornell University and an MBA from University of Maryland University College.
About Southern Home Medical Equipment, Inc.
Southern Home Medical Equipment, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. The Company has quality health care professionals to support hospitals, rehab centers, nursing homes and other medical facilities providing RN's, LPN's, CNA's, RT's, Billing Specialist, Customer Service Specialist, Delivery Techs and Marketing Reps. With contractual agreements with partner businesses in Charleston, Columbia, Greenville, Florence and Lake Hartwell, South Carolina; Nashville, Tennessee; Baltimore, Maryland; Dunwoody, Georgia; and Philadelphia, Pennsylvania. Southern Home Medical is leveraging the success of these business models to expand sales opportunities in these areas with health, medical and equipment needs.
Forward-Looking Statements
The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
if you know? is Tucker involved in any capacity.... of the company?
Looks like all the volume is on the selll side. Possibly from those that got shares in the 000's. It a nice gain from that view. I'm holding on, I think the best days are still ahead on this stock IMHO.
news also on Pinksheets.com
Board followers going up. Volume up. Profit. News.
We have awakened.
LOT OF VOLUME TODAY, + price movement. Would be super nice if there was a solid reason to justify the move.....
WOW!!, LOT OF VOLUME TODAY, with + price movement...NICE
Union Dental Reports an Increase in Income for 4th Quarter and a 75% Income Increase for the Year Ending 2010
FULL REPORT OUT.
Union Dental Reports an Increase in Income for 4th Quarter and a 75% Income Increase for the Year Ending 2010 -- Income Statement and Balance Sheet
CORAL SPRINGS, Fla., March 3, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) www.uniondental.com/ir -- a provider of multi-state dental services for union members, announced today its revenues for the quarter and year ending December 31, 2010. The revenues from operations as compared for the same period for 2009 for the quarter increased 63% from $613,860 to $1,000,933 and also increased 22.5 percent for the year ending 12/31/2010 from $3,148,724 to $3,857,434.
The Company's Consolidated Statements of Operations for December 31, 2010 reflects an operating income in the 4th Quarter of $210,118 as compared to a loss of $36,481during the comparable period in 2009. The Company's Consolidated Statements of Operations for year end December 31, 2010 reflects income of $576,399 as compared to $329,200 or a 75% increase.
Dr. George D. Green, President and CEO, commented: "I am pleased we are again profitable, especially in this dramatic worldwide economic downturn we are facing. Again, a majority of our losses in the past were related to the interest expense, increased IR consulting fees, Professional Fees and a derivative issue for some of our financing. We now have converted a good portion of debt into equity showing the confidence our debt holders have in the Company's future."
Income Statement and Balance Sheet as of 12/31/2010
UNION DENTAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
UNAUDITED
For the Year Ended
December 31,
2010 2009
Unaudited Unaudited
Cash Flows From Operating Activities:
Net income $ 470,694 $ 388,213
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization 106,081 126,201
Stock-based compensation and consulting 26,500 224,650
Common stock issued for interest -- --
(Gain) loss from valuation of derivatives 66,745 44,979
Changes in assets and liabilities:
Accounts receivable (263,140) (534,694)
Inventory of supplies -- (1,874)
Prepaid expenses and other current assets -- 27,724
Accounts payable (2,526) (25,891)
Accrued expenses 9,051 (23,752)
Unearned membership fees (146,624) 124,240
Net cash provided by operating activities 266,781 349,796
Cash Flows From Investing Activities:
Purchase of property and equipment (4,215) (200,014)
Net cash provided by (used in) investing activities (4,215) (200,014)
Cash Flows From Financing Activities:
Proceeds from note payable -- --
Cash overdraft -- (67,236)
Payments on loans payable - related party (47,951) (2,361)
Payments on notes payable (238,716) (41,997)
Net cash provided by (used in) financing activities (286,667) (111,594)
Net increase (decrease) in cash (24,101) 38,188
Cash - beginning of period 51,674 13,486
Cash - end of period $ 27,573 $ 51,674
Non-cash investing and financing activities:
Issuance of common stock for debt and accrued interest $ 659,261 $ 72,000
Reclassification of derivative liability to equity $ 800,975 $ 130,341
UNION DENTAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
UNAUDITED
December 31,
2010 December 31,
2009
ASSETS Unaudited Unaudited
CURRENT ASSETS:
Cash $ 27,573 $ 51,674
Accounts receivable, net 1,182,586 919,446
Inventory of supplies 39,354 39,354
Total current assets 1,249,513 1,010,474
Property and equipment, net 411,302 513,168
Total Assets $ 1,660,815 $ 1,523,642
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
CURRENT LIABILITIES:
Convertible notes payable $ -- $ 467,413
Convertible debenture payable -- 226,873
Notes payable 564,834 768,524
Loan payable - related party 215,916 263,867
Line of credit 50,650 50,650
Accounts payable 62,462 64,988
Accrued expenses 150,033 239,749
Unearned membership fees 161,795 308,419
Derivative liability -- 635,463
Total current liabilities 1,205,690 3,025,946
Commitments and contingencies -- --
SHAREHOLDERS' EQUITY (DEFICIT):
Preferred stock ($.0001 Par value; 25,000,000 shares authorized;
8,000,000 shares issued and outstanding) 800 300
Common stock ($.0001 Par value; 300,000,000 share authorized;
203,658,932 shares and 177,572,510 issued and outstanding at
September 30, 2010 and December 31, 2009, respectively) 20,366 17,757
Common stock issuable (1,000,000 shares)
Additional paid-in capital 5,830,023 4,346,396
Accumulated deficit (3,906,353) (4,377,046)
Shareholder transactions (1,489,711) (1,489,711)
Less: Deferred compensation -- --
Total shareholders' equity (deficit) 455,125 (1,502,304)
Total liabilities and shareholders' equity (deficit) $ 1,660,815 $ 1,523,642
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipefitters (UA), the National Federation of Public and Private Employees (NFOPAPE), and The Association of Flight Attendants - Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA, IBEW and all other union members use the dentists' services. Union Dental manages a dental practice in Coral Springs, Florida.
The Union Dental Holdings Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8310
WEBSITE: www.uniondentalcorp.com/ir
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Dr. George D. Green, President
info@uniondentalcorp.com
Source: Union Dental Holdings Inc
Union Dental Revises Upward Its Anticipated 4th Quarter and Year End 2010 Revenues ---AS PERDICTED...
CORAL SPRINGS, Fla., Feb. 22, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members, announced today it has revised its anticipated revenue for the fourth quarter ending 12/31/2010 to approximately $1,000,000 which is an increase of 63% for the same time period in 2009 and $3,800,000 for the year ending 12/31/2010 which is an increase of 20% for the same time period in 2009
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA), National Federation of Public and Private Employees (NFOPPE), and The Association of Flight Attendants – Communications Workers of America (AFA-CWA). Direct Dental Services 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. Union Dental manages a dental practice in Coral Springs, Florida.
The Union Dental Holdings Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8310
WEBSITE: www.uniondental.com/ir
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT: Dr. George D. Green, President
info@uniondentalcorp.com