MEDX Health Corp.

MEDX Health Corp.

December 14, 2007 16:44 ET

MedX Health Corp Files Revised Financial Statements and MD&A for the Nine Months Ended September 30, 2007

MISSISSAUGA, ONTARIO--(Marketwire - Dec. 14, 2007) - MedX Health Corp. today filed revised financial statements and MD&A for its results for the three and nine months ended September 30, 2007. The revisions occurred as a result of a review held by its auditors, Schwartz, Levitsky and Feldman LLP. The changes did not result in any adjustments to the current years operating results as reported on November 29, 2007.

Due to the fact that the auditors' review was held several weeks after the publication of the quarter's results, updated subsequent event notes were required and were added to the notes to the revised financial statements. In addition, a note on contingent liabilities as disclosed in the annual financial statements for the year ended December 31, 2006 was also added to the revised interim financials for September 30, 2007. Lastly, the note disclosing the Company's policies on financial instruments was expanded.

Changes were also made to the interim MD&A for the period ended September 30, 2007 filed on November 29, 2007 as follows:

- Under "Overall Performance", in the second paragraph, the revenues of $580,115 was amended to $508,115, and the loss of $188,155 was amended to $194,036;

- Under "Results of Operations-Revenues", in the last paragraph, the 49% for sale to the Canadian market was amended to 51% and the 51% for sale to the U.S. market was amended to 49%;

- Under "Expenses-Selling, General and Administrative Expenses", the lower travel expenses (by $4m) was amended to (by $43m);

- Under "Expenses-Discontinued Operations", in the last sentence "versus an expense of $1,582" was amended to "versus a loss of $1,582";

- In the chart under "Summary of Quarterly Results", the net loss for Q4 of 2005 was amended from $929m to $904m; and

- Under "Liquidity and Capital Resources", the additional cash raised of $644,812 was amended to $664,812, and "for the nine months ended September 30, 2007" was added.

About the Company - MedX, the phototherapy experts, are leaders in the development, manufacture and distribution of innovative phototherapy medical devices. MedX products offer effective treatment through a powerful and proven modality - giving patients a rapid, drug free and non-invasive healing solution. MedX products are used by practitioners in clinics, academic facilities, and hospitals as well as by professional athletes and sports teams to improve quality of life through accelerating healing and reducing pain. MedX 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

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