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American Company Spotlight

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MMRGlobal, Inc. Website:
Click Here |
Information As Of
July 21,
2010 |
| Exchange:
OTCBB |
Market Cap:
28.7
Million |
| Outstanding Shares:
210.7
Million |
52 Low / High:
$0.065 / $0.364 |
|
Price on July
21, 2010:
$0.136 |
MMRF Recent Stock Quote and News:
Click Here |
"For
the 12 months ending December 31, 2010 the Company expects
Sales of $2.7 million or 350 percent over 2009. Based on the
knowledge of management today, the Company also projects Sales
of $28 million for the 12 months ending December 31, 2011 or
an increase of over 800 percent."
Overview
MMR Global, Inc., through its wholly-owned operating subsidiary,
MyMedicalRecords, Inc. ("MMR"), provides secure and easy-to-use online Personal
Health Records ("PHRs") and electronic safe deposit box storage solutions
(www.myesafedepositbox.com), serving consumers, healthcare professionals,
employers, insurance companies, financial institutions, and professional
organizations and affinity groups. MyMedicalRecords enables individuals and
families to access their medical records and other important documents, such as
birth certificates, passports, insurance policies and wills, anytime from
anywhere using the Internet.
The MyMedicalRecords Personal Health Record is built on proprietary, patented
technologies to allow documents, images and voicemail messages to be transmitted
and stored in the system using a variety of methods, including fax, phone, or
file upload without relying on any specific electronic medical record platform
to populate a user's account. The Company's professional offering, MMRPro, is
designed to give physicians' offices an easy and cost-effective solution to
digitizing paper-based medical records and sharing them with patients in real
time through an integrated patient portal. MMR is an Independent Software Vendor
Partner with Kodak to deliver an integrated turnkey EMR solution for healthcare
professionals. MMR is also an integrated service provider on Google Health.
Investment Highlights
- Explosive Sales & Revenue Guidance.
The Company recently gave guidance in the
form of projected sales, portions of which
may be recognized as deferred revenue
("Sales"). For the 12 months ending December
31, 2010 the Company expects Sales of $2.7
million or 350 percent over 2009. Based on
the knowledge of management today, the
Company also projects Sales of $28 million
for the 12 months ending December 31, 2011
or an increase of over 800 percent. Sales
for the first six months of 2010 are
expected to exceed the first six months of
2009 by more than 20 percent not including
any revenues from International Licensing in
2010.
-
Medical Industry Incentives.
President Bush began a major push to create
incentives for the medical industry to
switch to electronic health records.
President Obama is helping promote these
incentives.
-
Shift to Electronic Medical Records.
The medical industry has begun to realize
the many benefits of using electronic
medical records. The financial incentives
are rewarding practitioners and have
resulted in a building momentum as more
offices are making the transformation.
-
Limited Competition. Only a handful
of companies are fully positioned to provide
the services that physician’s offices
require to meet the stipulations of the
stimulus package. MMRGlobal, Inc. has the
products intact to provide an end to end
solution for their customers.
-
Additional Modes of Revenue.
MMRGlobal has a competitive edge in the
electronic medical records industry, but
also offers other products to meet an
increasing demand for personal health
records and storage of documents that are
critical to our daily lives.
-
Financing. Without sacrificing share
structure, MMRGlobal has researched and
developed its products. The business plan to
generate revenues accompanies the strategy
of only using the financial resources as
required to roll-out their products
worldwide.
-
Technical Analysis Chart Looking
Positive. The MMRF chart is at a solid
support level and is looking to climb again.
The overall chart has a large cup and handle
look to it, which can be an incredibly
powerful chart pattern.
-
Patented Products. The Company’s
flagship product, MyMedicalRecords PHR
service, is a patented technology. The
Company also holds other key patents and
patent-pending technologies.
Profile
The world is becoming more and more electronic every day.
The urban legend that in 1899 Charles H. Duell, Commissioner
for the United States patent office, once stated “Everything
that can be invented has been invented” certainly is humorous
as the World Wide Web continues to evolve and thrive as a key
component of life and business today.
It was the 1970’s that saw the first electronic mail (email)
system developed and, ironically, the first spam email being
sent in 1978. 1984 witnessed the birth of domain name systems
(DNS) and the first Apple personal computer being launched. In
1991, Tim Berners-Lee’s web server and browser were made
publicly accessible and by the end of 1992 there were 26
publicly accessible sites available on the World Wide Web. The
first secure ecommerce transaction is reported to have
occurred Aug. 11, 1994. While it may seem to have been around
forever to many of us, Google and PayPal were not launched
until 1998. At this point there were now over 250,000
commercial websites in operation. As of 2009 records indicate
that the internet now has 1.5 billion users and there are over
100 billion live web pages. Given the fact that the build-up
to the web that we know today was slow until the explosion in
the last ten years or so, it will be interesting to see where
it is in another ten years.
The web has changed how we operate in life. The idea of going
to a store to purchase an item has been replaced by ordering
online. Even everyday items, including groceries, can be
ordered with a mouse click and delivered right to your door.
On the topic of leaving the house, “telecommuting” to work has
also become a craze as businesses strive to reduce costs as
communications of all degrees can now be done smoothly through
the use of the web. No need for a car, just get a modem. Many
businesses now are almost exclusively web-based with a
majority of expenses going to operating and maintaining those
sites.
The web has indeed simplified many things in our personal
lives, but the benefits provided to big industries are
virtually unparalleled. Obviously, the tech boom related to
the development of the basic principles of the web as we know
it reaped huge rewards for companies such as Google, Yahoo,
etc. and, more recently, social networking sites such as
Facebook and MySpace, not to mention the shareholders that got
in early.
The medical industry is now making significant changes in
operations for both humanitarian and business reasons. Spurred
by government incentives, the medical world is becoming
increasingly dependent on the digital world through Electronic
Health Records (EHRs), also called Electronic Medical Records
(EMRs). In April 2004, President Bush issued Executive Order
13335, which established a new executive position charged with
developing a strategic plan and incentives to promote the
adoption of EHRs. The accompanying press release stated that
“the President announced an ambitious goal of assuring that
most Americans have electronic health records [EHRs] within
the next 10 years.” A basic EMR includes patient demographics,
clinical notes with patient problem lists, medication lists,
prescription ordering, and the ability to view lab and imaging
results.
In 2005, less than 10% of all doctor’s offices in the United
States used electronic health systems in any fashion.
According to the U.S. Department of Health and Human Services
(HHS) in the same year, a national health information network
could save $140 billion per year by improving care and
reducing costs. In addition, EMRs offer portability, which is
an important component of the Healthcare Portability and
Accountability Act (HIPAA). This data has driven the
government to offer significant incentives for the medical
industry to make changes and incorporate electronic health
records into their everyday practice.
The American Recovery and Reinvestment Act (ARRA) of 2009,
offers several thousand dollars to each health care provider
as a motivation for adopting electronic records. $20 billion
in stimulus money was earmarked as incentives for electronic
health records through the Act.
In a survey conducted this year by GfK Roper for IT vendor
Practice Fusion, more than 48% of the people surveyed said
their doctor or specialist stored medical records
electronically in the examination room, as opposed to writing
information on paper charts. Of those patients, more than 45%
said their doctor made the switch in the last two years, and
more than 14% said the switch occurred in the last six months.
While the number of overall practices still not using
electronic medical records is still greater than 70%, the
stimulus money and progression with modern technology is
apparently having an impact.
The list of companies offering services to capitalize on the
flurry of practitioners switching to electronic health records
is small with only a limited number of companies having the
infrastructure and products completed for marketing.
MMRGlobal, Inc. (OTCBB:MMRF), is one Company making its name
known in the electronic health records arena. Through its
wholly-owned operating subsidiary, MyMedicalRecords, Inc.
("MMR"), the Comp[any provides secure and easy-to-use online
Personal Health Records ("PHRs"). Their proprietary
technologies serve consumers, healthcare professionals,
employers, insurance companies, unions and professional
organizations. MMRGlobal’s latest product, MyMedicalRecords
Pro, is a service designed to give physician's offices a
cost-effective solution to the costly and time-consuming
problem of digitizing paper-based medical records.
MMRPro is MMRGlobal’s solution to accommodate all of the needs
of a care provider to not only organize and simplify their
offices through electronic medical records, but also meet all
the requirements that could net them up to $44,000 in stimulus
funds. MMRPro is a bundled, end to end solution that, through
the use of the system’s Kodak 520MDPro scanners and Capture
Pro software, automatically deposits scanned patient records
in to organized online file folders to the specific tabs or
formats that are used in the subscribing doctor’s office. The
uploaded files are transferred in a matter of seconds through
a secure ftp client and filed appropriately through a bar code
system unique to each office. The files are then available
through a secure portal from any internet connection in the
world at any time.
The MMRPro system also includes an integrated e-prescribe
function that allows doctors to easily order prescriptions
which is mandatory to meet compliance with the federal
stimulus package. The system also benefits the patient as,
through another secure portal, the patient can view their
records at any time at any location with an internet
connection.
MMRPro has a major market edge in the area or electronic
medical records due to their state-of-the-art technologies and
extremely manageable pricing. The cost of the system for an
office with up to three doctors is only $600 per month.
Most companies would be happy to have a product such as MMRPro
in their arsenal of revenue generators, but that is not all
that MMRGlobal has to offer. In addition to the MMRPro,
MMRGlobal offers a suite of online personal health records
(PHRs) and electronic safe deposit box storage solutions.
Seeking to empower consumers to have greater control over
their health and well-being, MMRGlobal facilitate access to
medical records and other important documents, such as living
wills, birth certificates, passports, advance directives and
insurance policies, anytime from anywhere using the Internet.
Their flagship product, the MyMedicalRecords PHR service,
accessed through www.mymedicalrecords.com, is built on
proprietary patent-pending technology that enables users to
transmit documents, images and voicemail messages in and out
of the MyMedicalRecords PHR system using a variety of methods,
including fax, e-mail, phone, and file upload without relying
on any specific electronic medical record platform to populate
a user's account. Users and medical providers can fax paper
records (such as laboratory tests, radiology reports and
physician's notes), or scanned images can be uploaded, into a
secured personal account, which the user can access and
organize as necessary, including filing particularly sensitive
documents in virtual lockboxes protected by secondary
passwords, and designating certain records as accessible to
medical personnel and first responders by way of a separate
Emergency Login.
The final component of the MMRGlobal products on the market is
called “MyEsafeDepositBox”, available at
www.myesafedepositbox.com, which is designed to provide secure
online storage for vital financial, legal and insurance
documents in addition to medical records using the same
patent-pending technologies that drive the MyMedicalRecords
PHR service.
MMRGlobal has established a $10 million standby equity line
facility recently and entered into an agreement with Benchmark
Financial Groups to help fund the Company's deployment of
MMRPro. It is also notable that the Company has issued less
than 15% of the Company’s authorized shares during its
research and development of its products with expectations
that revenues will be used for any further advancement.
As if the Company’s patented products in this booming industry
weren’t enough reason to consider the stock, the Company also
recently came out with sales and revenue guidance in the form
of projected sales, portions of which may be recognized as
deferred revenue ("Sales"). For the 12 months ending December
31, 2010 the Company expects Sales of $2.7 million or 350
percent over 2009. Based on the knowledge of management today,
the Company also projects Sales of $28 million for the 12
months ending December 31, 2011 or an increase of over 800
percent. Sales for the first six months of 2010 are expected
to exceed the first six months of 2009 by more than 20 percent
not including any revenues from International Licensing in
2010. This demonstrates that the Company's core Sales are
growing at a pace of over 100 percent after excluding the
licensing revenues the Company reported last year. These
projections do not include revenues from Chartis in 2010 which
may occur, or any revenues from new affinity sales, China,
India, integration to wireless devices, clinical trials,
biotech assets or revenue that may be recognized through
acquisitions.
This Company is growing by leaps and bounds and from a
fundamental standpoint, looks to be on solid footing. With
that being said, we decided to also look at the stock from a
technical perspective, and the technical merits for this
Company are quite compelling on that front as well to say the
least.
The technical chart for MMRF is in a prime position for
another leg up. While not perfect per definition, the MMRF
chart has the look of a very large cup and handle pattern. The
C&H can be a remarkably powerful pattern which would put
targets in the area of around the $0.40 area, if the pattern
completes. Coming off the 52-week low of $.07 in November of
2009 and a subsequent climb which touched $.36 in May, the
price per share has retraced and is holding above the 200 day
simple moving average around $.14. Volume has been declining
indicating the selling is over as profit-takers have secured
gains from the large move on the run to $.36.
The lower indicators have retraced as well and are now
beginning to demonstrate bullish crosses with the 12 EMA
crossing the 25EMA for the MACD and the PPO histogram is
breaking above zero as well. The +DI and the –DI are properly
positioned as the ADX is turning up indicating a possible
swing in strength of direction as it moves towards “trending”
levels. The Accumulation/Distribution indicator has continued
trending to the upside even throughout the consolidation
indicating that buying is still outweighing selling for MMRF
and the Full STO has regularly bounced of 20 and is once again
turning back north acknowledging that oversold status is
difficult for MMRF to achieve. Buying pressure still remains.
Finally, the RSI’s (7, 14, 21) are tight and are approaching
the bullish mark of 50 in unity. The MMRF chart should
continue to get support from the 200 day moving average at
$.13 and a bottom support level at $.12 as it has touched $.12
twice this month, but promptly recovered to the upper side of
the long moving average. A break and hold below $.12 will
significantly weaken the chart, but at this point it appears
to be heading back to bullish territory.
Should the stock break considerably below $0.12, then the ship
is sinking and investors should be using a level close to that
for their stop losses, however the $0.12 level is looking to
be a good support level. The stock is flirting with a
potential bullish run which could see it’s next resistance
point around the $0.20 level should the run begin.
As always, these are only our interpretations of the MMRF
stock chart and we encourage all investors to do their own due
diligence and consult with a financial advisor prior to making
any investment decisions.
This still affordable price of 14 cents and sitting on a nice
area of support, MMRF will be on the radar for both traders
and investors as lucrative gains could be produced from these
levels. The fundamentals for MMRGlobal and the business plan
are firmly intact and the management has been respectful to
shareholders at this point. Companies that are looking to
capitalize on the shift in trend from paper documentation to
electronic medical records are not likely to stay at this low
price per share for long. Of course, as mentioned above, this
is not all that MMRGlobal has to offer with regards to
generating revenues, while keeping overhead at a minimum. We
at AllPennystocks.com are also feeling the momentum turn, and
look with interest to the chart and corporate structure of
MMRGlobal, Inc. (OTCBB:MMRF)
while still urging investors to perform their own due
diligence on the company.
Company
Product Security
The Company has taken a number of
steps to ensure that patients
information is stored safely, securely and confidentially.
- The technology that underlies the MyMedicalRecordsMD.com
voice and fax communications portal was built and is hosted
by the same company that handles transactions for many
Fortune 1000 companies.
- The Company has redundancy across all levels of its
infrastructure and maintains back up servers housed in a
separate data center, more than 100 miles from the main
production data center. In the event the production data
center becomes inoperative, traffic is routed to the backup
data center. Access to the facility's data center areas is
tightly controlled, requiring individuals to be
authenticated with Smart Card access and biometric scans.
The data center also protects data loss and corruption
through full power back-up systems.
- In addition to user level passwords and data encryption,
data access is protected through multiple levels of network
security to prevent unauthorized access and to help protect
the privacy and integrity of customer data. Furthermore,
MMRPro's hosting platform maintains total, synchronized
redundancy at all levels.
- All documents faxed into and stored in the MMRPro system
are encrypted when accessed and they are displayed in
unalterable PDF images. In the case of non-PDF documents
that are uploaded, the files remain in their native
application format such as MS Word, Excel, PowerPoint, etc.
Each user's mailbox is secured by a unique User ID and
Password combination. The password is easily changed online
by the user at anytime. Our employees do not have access to
any information placed into the system by our customers. We
do not know what is in the records saved; we do not analyze
the data; and we do not sell or plan to sell this
information to anyone. Our Customer Care Representatives do
not know any User passwords. MyMedicalRecords.com complies
with the IT SECURITY requirements of the Health Insurance
Portability and Accountability Act of 1996 (HIPAA), and our
management team includes an attorney that specializes in
HIPAA.
Recent News and Press Releases
MMRGlobal Enters Into Financing Agreement to Speed Deployment
of MMRPro to Customers
Marketwire (Mon, Jul 12)
MMRGlobal's China Joint Venture Plans for Electronic Health
Record Project in Henan Province
Marketwire (Tue, Jul 6)
MMRGlobal Gives Sales and Revenue Guidance
Marketwire (Wed, Jun 30)
MMRGlobal Gives Sales and Revenue Guidance
Marketwire (Tue, Jun 29)
MMRGlobal Launches "The Future of Your Health at Work Today"
on Daytime Emmy Awards Show Sunday
Marketwire (Thu, Jun 24)
MMRGlobal To Sign Agreement With National Payment Provider to
Place 1,000 MMRPro Systems
Marketwire (Mon, Jun 21)
MMRGlobal Secures $10 Million Standby Equity Line to
Facilitate Worldwide Growth
Marketwire (Fri, Jun 18)
MMR INFORMATION SYSTEMS, INC. Files SEC form 8-K, Entry into a
Material Definitive Agreement, Non-Reliance on Previou
EDGAR Online (Fri, Jun 18)
MMRGlobal Promotes and Adds Two Senior Executives to Manage
Growth
Marketwire (Thu, Jun 17)
MMR Information Systems Becomes MMRGlobal
Marketwire (Wed, Jun 16)
Management
Robert H. "Bob" Lorsch
Chairman of the Board; President and Chief Executive
Officer
Hector V. Barreto, Jr.
Director
David A. Boyden
Director
Douglas H. Helm
Director
George Rebensdorf
Director
Bernard Stolar
Director
Jack Zwissig
Director
Naj Allana
Senior Vice President and Chief Financial Officer
Contact
Corporate Contact:
MMRGlobal
Mailing Address:
2934 1/2 Beverly Glen Circle,702
Los Angeles, CA 90077
Office Address:
468 Camden Drive
Suite 200
Beverly Hills, CA 90210
1-888-808-4667 (4MMR)
Email: info@mmrmail.com
FORWARD LOOKING STATEMENTS
This report includes forward-looking
statements that reflect MMRGlobal, Inc. current
expectations about its future results, performance,
prospects and opportunities.
MMRGlobal, Inc. has
tried to identify these forward-looking statements by using
words and phrases such as "may," "will," "expects,"
"anticipates," "believes," "intends," "estimates," "plan,"
"should," "typical," "preliminary," "we are confident" or
similar expressions. These forward-looking statements are
based on information currently available and are subject to
a number of risks, uncertainties and other factors that
could cause MMRGlobal, Inc.'s actual results,
performance, prospects or opportunities to differ materially
from those expressed in, or implied by, these
forward-looking statements. These risks, uncertainties and
other factors include, without limitation, the Company's
growth expectations and ongoing funding requirements, and
specifically, the Company's growth prospects with scalable
customers, and those outlined above. Other risks include the
Company's limited operating history, the Company's history
of operating losses, consumers' acceptance, the Company's
use of licensed technologies, risk of increased competition,
the potential need for additional financing, the terms and
conditions of any financing that is consummated, the limited
trading market for the Company's securities, the possible
volatility of the Company's stock price, the concentration
of ownership, and the potential fluctuation in the Company's
operating results.
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link of which can be found on our web site. This document
contains forward-looking statements, particularly as related
to the business plans of the Company, within the meaning of
Section 27A of the Securities Act of 1933 and Sections 21E
of the Securities Exchange Act of 1934, and are subject to
the safe harbor created by these sections. Actual results
may differ materially from the Company's expectations and
estimates. This is an advertisement for
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