Xcelerate Inc (XCRT)

[B7$4]

UDHI News - Union Dental Reports an 87% Increase in Profits for 2nd Quarter 2010 and a 21% Increase in Revenues

http://www.marketwatch.com/story/union-dental-reports-an-87-increase-in-profits-for-2nd-quarter-2010-and-a-21-increase-in-revenues-2010-08-17?reflink=MW_news_stmp

CORAL SPRINGS, Fla., Aug 17, 2010 (GlobeNewswire via COMTEX) -- 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 ending June 30, 2010. The revenues from operations as compared to the same period for 2009 increased 32 percent to $1,144,655 from $769,234. The profitability is partially attributed to the expansion of the dental facility, lowering of IR consulting fees, professional fees and general operating expenses while increasing its revenue base.

The Company's Consolidated Statements of Operations for June 30, 2010 reflects a profit of $315,345 from operating income as compared to a profit of $38,340 during the comparable period in 2009 or an 87% increase.

Dr. 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."