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Revenue for the three months ended September 30, 2008 was $335,567 compared to $308,754 for the three months ended September 30, 2007, an 8.9 per cent increase. These revenues are also a 29.4% increase from revenues of $259,235 for the second quarter of 2008.
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MedX incurred a loss from continuing operations for the quarter of $651,056 or $0.03 per share compared to a loss of $302,034 or $0.02 per share for the same period in the prior year.
"For the first time in many years, MedX has posted a quarter to quarter increase from Q2 to Q3, 2008, as well as a quarter to quarter increase versus the previous period in 2007," said Steven Guillen, chief executive officer and president of MedX Health. "This is a direct result of new strategic partnerships, like Technology4Medicine, beginning to solidify and generate revenue. We expect to see a strong finish to the year as we continue to expand our products and services internationally via new distribution channels, anticipated CE Marks in several countries, novel product technology, strategic partnerships and strong IP programs."
About MedX Health Corp.
MedX is a leading North American developer and manufacturer of low level laser and light medical devices for the drug free and non-invasive treatment of tissue damage and pain in numerous medical settings including dental, rehabilitation and wound care. MedX is the world's only company focusing on developing and delivering a broad cross-section of technologies and products involved in healing using light therapy. MedX is committed to advocating for and bringing the non-invasive, drug-free healing nature of light to people seeking relief from pain and other physical ailments. MedX's strategy is to build upon its success in bringing relief of symptoms in a non-pharmacologic manner in the rehabilitation market through key partnerships, acquisitions, strong patent protection as well as developing and commercializing advanced products in the dental and wound-care markets that will position the company to increase revenue. In addition, MedX plans to accelerate the development of a new product aimed at the rapidly-growing wound care market: its "Photobandage(TM)", a bandage technology that allows a wound to be bathed in light, designed to enhance the healing process. The Company intends to license this new technology to one or more major wound care companies for further development of marketing and sales.
Brand products are US FDA and Health Canada cleared and are produced in an ISO 9001 and 13485 certified manufacturing and testing facility. For a complete profile of MedX Health Corp. and its products visit www.medXhealth.com
Recent Company Achievements: - Announced strategic partnership with Technology4Medicie to become Medx Health's exclusive U.S. dental distributor for Oralase(TM) (July 15, 2008) - Closed non-brokered private placement of 4,800,000 common shares for CAD$1,200,000 during the period - Company profiled in the October issue of American Executive Magazine (October 1, 2008) - Received FDA Clearance for Oralase(TM) (October 6, 2008) ------------------------------------------------------------------------- Canadian $ Q3 2008 Q3 2007 ------------------------------------------------------------------------- Revenue 335,567 308,754 ------------------------------------------------------------------------- Gross Margin % 55% 70% ------------------------------------------------------------------------- Income (Loss) from continued operations (651,056) (302,034) ------------------------------------------------------------------------- Income (Loss) from discontinued operations (8,290) (5,763) ------------------------------------------------------------------------- Net Income (Loss) for period (659,346) (307,797) ------------------------------------------------------------------------- Weighted Average no. of shares outstanding-basic and diluted 24,822,776 15,043,937 ------------------------------------------------------------------------- Loss per Common Share-basic and diluted ($0.03) ($0.02) -------------------------------------------------------------------------
SOURCE MedX Health Corp.
