Tuesday, June 17, 2008 11:22:49 AM
(anyone still a believer?)
Pediatric Prosthetics Inc. Announces Crucial Step Toward Becoming the National ''Go-To Provider'' Our Stockholders Have Expected
Monday June 16, 7:59 am ET
HOUSTON--(BUSINESS WIRE)--Pediatric Prosthetics Inc.’s (OTCBB:PDPRE - News) management announced today the negotiations on a financing package that will allow the Company to step to the forefront, providing American children with state-of-the-art prosthetic care. Kenneth Bean, VP Operations, stated, "We provide children with functional, comfortable prostheses in 3 to 5 days instead of six to eight WEEKS as is normally the case in our business. We charge no more than any other prosthetics company. We honestly believe that laying those simple facts before American parents in a caring way, makes the financing costs our shareowners have endured...and will endure...a pretty small price in the greater scheme of things.
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"Let me be very specific here. Upon successful completion of the current financing agreement negotiations, we will be able to increase our marketing/advertising budget MORE THAN 12 FOLD. We will spend EACH MONTH more than we could spend each YEAR up till now, (due to registration costs), reaching out to young parents across the country and offering them our unique experience and expertise to their child with a limb-loss.
"Please keep in mind that we are addressing a hundred million dollar per year national market niche, and for the very first time in our existence we are negotiating the terms for the financial resources to properly step forward as the national leader in caring for the kids. We now have some 36 allied fitting facilities nationwide to allow us to serve that national market niche very well.
"If we do generate a 12-fold increase in new patient-fittings over THESE NEXT TWELVE MONTHS, we could generate revenue in the neighborhood of $6 million dollars, and redoubling each year in the future; this with an annual cash overhead of $1 million dollars net of financing costs.
"Let me be very clear on the financing costs issue. We here at Pediatric Prosthetics expect to be a $20 million dollar revenue-per-year company within three to four years. We genuinely HOPE our financial partners, (The NIR Group), earn a whole lot of money. They stepped to the table when nobody else could or would. If our productivity projections are anywhere in the right neighborhood, they will earn an acceptable return on their loan, and a delightful profit with their warrants. That is the way it is supposed to work."
About Pediatric Prosthetics Inc.
Pediatric Prosthetics Inc. is the national provider of specialized pediatric prosthetics for both upper and lower limbs. The Company’s CEO Linda Putback-Bean pioneered fitting state-of-the-art myoelectric upper extremity prostheses for the pediatric niche market. In the absence of a hand or arm, a child's brain still continues sending signals to grasp or open the hand in the residual limb. Myoelectric sensors can read those signals through the skin, (requiring no surgery), and with a computer chip can magnify those signals many fold to actuate a tiny powerful motor to accomplish tasks with the life-like hand. In 2003, Ms. Putback-Bean founded Pediatric Prosthetics to create a comprehensive organization that connects parents and their children with a limb loss, to expert pediatric prosthetic fitting, rehabilitation, and life-long care. As a result, Pediatric Prosthetics hopes to increase the quality of life for patients and their families nationwide. For more information, visit http://www.kidscanplay.com. or call Kenneth Bean at 713-569-3896.
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