SOURCE: AcuMedSpa Holdings, Inc.

June 24, 2010 05:00 ET

AcuMedSpa Holdings, Inc. Offers Mid-Year Report

TAMARAC, FL--(Marketwire - June 24, 2010) -  AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ), a provider of Medical Aesthetic, Spa and Acupuncture services, is providing a mid-year report on its accomplishments through the halfway point of 2010 and restates its goals for the year.

One of the major accomplishments by the company this year has been reforming the stock structure. The company reduced both the authorized shares and the outstanding shares, increasing value to the shareholders. The newly modified stock structure gives decision making power to the shareholders over all important company matters. Any major decisions including further modification of the stock structure by way of issuing shares, changing the authorized shares, stock splits of any kind, etc. would now require a proxy vote and the consent of the majority of stockholders.

AcuMedSpa Holdings has maintained a sharp focus on geographical expansion both in the U.S. and abroad. This year the company has successfully expanded into Tennessee and will be opening its third location in that state shortly. Once operational later this year, the three Tennessee offices are expected to generate over $1 million annually. In addition to Tennessee, the company is working towards opening between three and five new locations including another Florida office in the city of Coral Gables. The Coral Gables location is nearing the final stages and the company hopes to make a formal announcement soon. The company is also looking to expand into at least one additional state. AcuMed has also been looking at some opportunities in the European markets and expects to report more specific information on its overseas expansion plan later this year.

The company is on track to meet and possibly exceed its earnings projection for 2010. As stated in an earlier press release, last month AcuMed finalized the sale of its "Spa within a Practice" subsidiary. The sale cleared over $450,000 in debt off of the company's books and significantly reduced its monthly operating expenses. The elimination of the debt has given the company a firm financial foundation, allowing it to run its operations in a much more fiscally sound manner and to carry out its business plan without the need to use equity sales to finance operations.

AcuMedSpa Holdings President Gregory Antoine, stated, "This year we have been able to get off to a strong start which has set the tone for the remainder of 2010. Perhaps most importantly, our improved share structure will allow our shareholders to receive greater benefit from our company's future growth and to have the final say-so in every important decision. I will continue to communicate regularly with our shareholders and keep them informed through each phase of our development."

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This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and AcuMedSpa Holdings, Inc. takes no obligation to update such statements.

Contact Information

  • Contacts:

    Gregory Antoine