Contact Information: CONTACT: Bobbie Volman MyMedicalRecords, Inc. (310) 476-7002, Ext. 2005 bvolman@mmrmail.com
MMR Information Systems, Inc. Files Second Quarter 2009 Form 10-Q
| Source: MMR Information Systems, Inc.
LOS ANGELES, CA--(Marketwire - August 27, 2009) - MMR Information Systems, Inc. (OTCBB : MMRF )
(the "Company"), which through its wholly-owned operating subsidiary,
MyMedicalRecords, Inc. ("MMR") provides consumer-controlled Personal Health
Records ("PHRs") (www.mymedicalrecords.com) and electronic safe deposit box
storage solutions (www.myesafedepositbox.com), today announced that the
Company has filed its second quarter Form10-Q for the period ended June 30,
2009 with the U.S. Securities and Exchange Commission. The delay in filing
was as a result of a reassessment of the Company's contractual obligations
to deliver shares in the event that all option and warrant holders
exercised those contracts.
The condition initially arose upon the merger between MyMedicalRecords.com,
Inc. and Favrille, Inc. on January 27, 2009. The condition was remedied on
June 13, 2009 when certain non-employee option and warrant holders waived
their rights under those contracts. On that date, the derivative
liabilities were reclassified back into equity and a gain of $1,288,856 for
the three months ended June 30, 2009 was recognized related to the decrease
in value of those liabilities between March 31, 2009 and June 13, 2009.
Further details of this accounting issue and the Company's treatment of it
can be found in the Company's filings with the SEC.
According to Robert H. Lorsch, Chairman and Chief Executive Officer, "We
are pleased that the Company is again current in its filings and is in the
process of signing MMRPro Beta sites at a time of tremendous opportunities
created by the Obama Administration and Congress's emphasis on the
importance of personal health records."
About MMR Information Systems, Inc.
MMR Information Systems, Inc. (OTCBB : MMRF ), 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, serving consumers, healthcare professionals,
employers, insurance companies, unions and professional organizations.
MyMedicalRecords enables individuals and their 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 PHR service, accessed through
www.mymedicalrecords.com, allows documents, images and voicemail messages
to be transmitted and stored in the MyMedicalRecords PHR system using a
variety of methods, including fax, phone, or file upload without relying on
any specific electronic medical record platform.
The proprietary MyEsafeDepositBox service, available at
www.myesafedepositbox.com, provides secure online storage for vital
financial, legal and insurance documents in addition to medical records,
and serves as a powerful emergency preparedness tool for industry,
individuals and municipalities.
Information about the MyMedicalRecords Pro ("MMRPro") service, designed to
give physicians' offices an easy and cost-effective solution to digitizing
paper-based medical records, is available at www.mymedicalrecordsmd.com.
To learn more about MMR Information Systems, Inc., visit
www.mmrinformationsystems.com.