SOURCE: Connectyx Technologies Holdings, Inc.

November 17, 2011 09:24 ET

Connectyx Technologies Files Financial Results for First Nine Months 2011 With Continued Revenue Growth and Substantial Decrease in Operating Costs

Company's Revenues Increase 34% and Reduces Operating Expenses by 56%

STUART, FL--(Marketwire - Nov 17, 2011) - Connectyx Technologies Holdings Group, Inc. (PINKSHEETS: CTYX) ("Connectyx"), www.connectyx.com, manufacturer and distributor of the MedFlash®, a Personal Health and Wellness Management System (ePHM) designed for maintaining personal health records (PHR), filed its financial results for the nine months ended September 30, 2011 recording a revenue increase of 34% versus the YTD third quarter of last year. For the nine months of 2011, revenues were $149,400, compared to $111,600, a 34% increase from the first nine months of 2010. The Company's continuing program to reduce operating expenses has resulted in a 56% decrease in those costs from $1 Million in the first three quarters of 2010 to $446,000 in the first three quarters of 2011. The Company has posted their financial statements in accordance with the OTC guidelines and can be viewed by going to http://www.otcmarkets.com/stock/CTYX/financials.

Ronn Schuman, President & CEO of Connectyx Technologies, said, "We are very pleased to report that our revenues increased for the first nine months of this year by 34% versus the first nine months of 2010, while continuing with our operational cost reduction program. We are basically doing more with less. Considering that our business plan shift did not begin in earnest until earlier this year and the inherent ramp up time necessary when initiating new programs and partnerships, we are very excited about the future growth in MedFlash sales. And, our substantial decrease in operating costs shortens our path to profitability."

Mr. Schuman added, "We are launching our first community pilot with the Logan County Paramedic Association that includes donating 50% percent of our MedFlash portal revenues to Logan County as part of a community service program. Once we complete the pilot with Logan County, we plan to expand this community service model to other first responder organizations and other not-for-profit organizations nationwide."

Michael Robbins, Chief Architect of Connectyx, said, "Another big area for MedFlash is the new, connected devices for measuring diabetes, blood pressure, glucose levels and body weight. With Internet-connected devices we can connect MedFlash members to their vital signs seamlessly. I envision a future health and wellness product in which I take my blood pressure and my wife -- who might be at her place of work at the time -- can see my blood pressure results on her smart phone as quickly as I see them on mine. This is the kind of information network that can foster the behavior changes which are at the heart of wellness -- proactive healthcare."

Mr. Schuman continued, "As we discussed in our teleconference, our association with Fonemed, which offers MedFlash members online access to a registered nurse 24/7, now will be included as part of the basic MedFlash membership program at no additional charge. This means any member that has a health-related question can speak to a nurse anytime -- 24 hours a day."

Connectyx also announced a new product during the company's teleconference, Pet Club www.petclub.com, which will utilize the similar platform that is being developed for their health and wellness network.

Mr. Schuman said, "Over the past few years we have gathered a significant amount of market intelligence regarding human behavior surrounding our health and wellness products. As a result of studying consumer buying habits, management believes that the next generation of our health and wellness product -- paradigm that will be utilizing community and social network tools also will work well with the Pet Market. Consumers spend billions of dollars annually on their pets and in some case unfortunately take better care of their pets than themselves. Management believes that the potential for growth could be much quicker from a membership perspective due to the popularity of Pets and the combination of the community network effect."

Additional highlights from the teleconference from a marketing perspective discussed by Mr. Schuman. Mr. Schuman offered, "We are about to begin seeing MedFlash on TV and Radio as a part of the company's ongoing marketing campaign. Another initiative under development is that Connectyx announced that the company is in advanced negotiations with Barnabas Management Services' Employee Assistance program known as 'OneSource.' We are going to collaborate on the development of a suite of health and wellness tools that will assist in showing a return on investment for their employee group clients that affects over 50,000 patient lives. The Barnabas 'OneSource' program is the part of the Barnabas health system which is New Jersey's largest integrated health care delivery system. We see this collaboration has having a great deal of potential for both Barnabas and Connectyx."

In conclusion, Mr. Schuman said, "We would like to thank all our shareholders for their continued support and we look forward to communicating to everyone additional promising developments that are in process, but not quite ready for public dissemination yet."

To be added to the corporate e-mail database for corporate press releases and industry updates, investors and shareholders are requested to send an e-mail to investorrelations@connectyx.com

Connectyx Technologies provides unique products for the healthcare market including MedFlash®, the electronic Personal Health Manager (ePHM). The MedFlash® PHM is an easy to use Personal Health and Lifestyle Manager that is accessible using a powerful web portal suite. The MedFlash® PHM also features a 24/7/365 call center, a USB flash drive and our smartphone applications with Scan code capability. The MedFlash® PHM provides member benefits including instant access to your Emergency Medical Profile and Personal Health Record in the event of an accident or a medical emergency. Whether traveling, at work, or at home, First Responders have an invaluable advantage when they have access to this time critical information. Far more than just an emergency flash drive, the MedFlash® PHM can be accessed on any computer, securely and with complete privacy. There are also lifestyle and wellness features that provide significant health benefits to members and risk mitigation for employers and insurers alike. Connectyx products are developed with the needs of patients, families, doctors and First Responders in mind. For more information, please visit our websites at: www.connectyx.com, www.phrtoday.com and www.medflash.com

Safe Harbor Act: This communication includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this communication.

Contact Information

  • Contacts:
    Investor Relations:
    Connectyx Technologies Holdings Group, Inc.
    772-600-2581