MEDirect Latino Inc. (MLTO)

[dragan7]

Bob,

If I do not know you, I would say you are either naive, or stupid...But, I know you are neither....

De-listed company means:

1. never will have to report any (audited, or unaudited ) financial data....
2. trading on pink sheets will be suspended, after notice is giving ( failing to make any financial statement, so leaving investors in dark, out on any info ), and deadline expired...
3. there is only one more step, going BK....

If MLTO goes BK, Granite will own them, and take them private, and try to refinance, revive them....But, that would effectively mean present shareholders will get nothing, zero, nada.....

Now, we have another "great news", they are under investigation for possible billing fraud...Here is link, and text. And, you can make own conclusion.....

Dragan

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5448029


2101 West Atlantic Boulevard, Suite 101, Pompano Beach, FL 33069
(Address of principal executive offices)


954-321-3540
(Registrant’s telephone number, including area code)




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.)


[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




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Item: 8.01 Other Events


The Company has received a request from a Medicare program safeguard contractor to produce medical and other ordering and shipping records for thirty Company customers that received diabetic testing supplies and/or home medical equipment over the last several years. The Company has no information indicating that it is the target or subject of any governmental investigation at this time. In connection with the collection of medical records and other information required to be furnished in the request by the program contractor, the Company identified a material number of files in which the required Medicare ordering documentation is not complete or is missing.

Based upon the preliminary findings of the thirty files initially reviewed, the Company has initiated an internal investigation beyond the thirty records requested by the Medicare program safeguard contractor. The investigation is being supervised by a Special Investigation Committee made up of independent members of the Board of Directors. If a material percentage of document deficiencies is found by the internal investigation, the Company may be required to refund amounts previously paid to it by Medicare or to self-disclose its findings to the appropriate federal authorities.

The total amount of any refunds cannot be quantified at this time, but, given the Company’s current financial situation, any significant refunds due to Medicare could have material adverse effect on the Company and/or its operations. In addition, any material Medicare recovery against the Company may adversely impact the Company’s ability to participate in the Medicare DMEPOS competitive bidding authority implementation.



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SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


MEDirect Latino, Inc.

Dated: September 27, 2007 By: /s/ Charles W. Hansen III
Charles W. Hansen III
CEO