Wearable Health Solutions Inc (WHSI)

[madmoney_1]

$MDHI for newbies! These are links and hard proof that the Company is moving forward IMHO.


It's been a very long road for Medical Alarm Concepts Holding, Inc. (MDHI) since going public several years ago. The Company was organized with the idea of revolutionizing the personal medical alarm sector through the introduction of a unique two-way, speak and listen through the medical pendant technology. For much of our history the company has failed to realize its growth potential. These reasons include a lack of adequate initial capital to execute a truly robust marketing plan, and structural balance sheet issues relating to our initial money raise that resulted in a toxic structure of our convertible debt, which in turn handicapped our ability to raise additional funds needed to make the company a success.

I am writing to you today to explain what we have done to rectify these issues and to let you know about the dramatic turnaround our business has realized over the past few months. What we plan to express in this shareholder letter is not that we are planning to turn our business around, but rather that we have already turned the business around and that we are experiencing extremely strong sales growth rates. Additionally, we wish to express to you that we are very quickly approaching our revenue breakeven point. This turnaround has been very dramatic and as we move into our busiest sales period of the year, our confidence level has never been higher.
http://www.otcmarkets.com/stock/MDHI/news


On August 3, 2012, the Company reached an agreement with various investors in the Corporation who held certain rights to buy common stock in the Corporation (Warrant Holders). The Warrant Holders and the Company agreed that it is in the best interests of the Warrant Holders, the Corporation and common stockholders to cancel a total of 60,825,660 million warrants. All of these warrants had strike prices that were below the closing bid price on the day before the agreement was reached, thus were considered “in the money” warrants.

No compensation of any type was given to Warrant Holders who canceled their warrant positions.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8764200

On September 6, 2012, the Company entered into an agreement converting the final portion of its Series B Convertible Preferred stock. All Series B Convertible Preferred stock has now been retired. All Series A Convertible Preferred stock had been retired previously. All Warrants associated with the March 2009 issuance of convertible debts have been cancelled.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8815073

On August 6, 2012, the Company issued comments in a press release discussing the customer upgrade rate at its large retail partner, the largest warehouse club store chain in the United States. Management indicated that the customer upgrade rate had now climbed to in excess of 75%, providing the Company with additional high-margin revenue. The Company also commented that this same retail partner had given the Company an estimate of between 1,500 and 2,500 units for a significant promotion the retailer plans for early Fall of 2012. Additionally, the Company disclosed that it had sold approximately 4,000 MediPendant units during the June quarter and expects to exceed this amount for the September quarter.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8754662

On June 21, 2012, the Company arranged with one of its retail partners, the largest membership warehouse store in the U.S., to participate in its seasonal (Fall 2012) promotional mailer. This mailer typically generates over 40% of the retail partners total sales annually for our category of goods. The Company, in conjunction with the retailer, is estimating this mailer will generate sales of between 1,500 and 2,500 units of the Company’s MediPendant™ product. The Company is also discussing and have committed to additional marketing initiatives with this retailer.

On June 20, 2012, the Company issued a press release disclosing that it has signed an exclusive distribution agreement with a Danish company that plans to distribute the MediPendant™ personal medical alarm throughout Denmark and several other Scandinavian countries. The initial order is for 500 units with additional orders expected on an ongoing basis.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8684294