Price Upgrade Due to the Company Exceeding Performance Criteria in Initial Report
PLANTATION, Fla. 9/22/2005 05:00 AM GMT (TransWorldNews)
MEDirect Latino Inc. (Pink Sheets:MLTO) http://www.medirectlatino.org today announced the release of an updated analytical profile on the Company, by respected micro-cap valuation expert, Mr. Gerald Kieft, founder and President of Wall Street Resources, Inc, which has upgraded the short term price target of MLTO to $11.25 per share. This report is an update of the original report issued on May 16, 2005, where Wall Street Resources issued a 12-month target value of $8.40 per share. The increase in valuation is due to the recent reported results of the Company, its increasing sales and shipping volume and diversification of its products and services, which has resulted in a higher initial order value per new client.
The free report is available at: http://www.wallstreetresources.net/pdf/fc/MLTO2.pdf
The 27-page report includes detailed information on the Company's business model, products, industry, valuation, management, and risks. Wall Street Resources, Inc. is a professional research and consulting firm with over 10 years of experience providing analysis for emerging growth companies and information to the investment community. Over the last decade, Mr. Kieft has identified successful micro-cap and small-cap companies, and those he profiled in 2004 increased an average of 92.5%.
"We are very excited that Wall Street Resources has seen fit to upgrade his overall evaluation of our company, and increase its short term price target to $11.25. We consider this report to be a verification that our management team is executing the business strategies of MEDirect Latino in a more than acceptable fashion., stated Mr. Raymond Talarico, CEO, MEDirect Latino, Inc. "Mr. Kieft has specific knowledge and understanding of our 'space' in the healthcare industry, having witnessed the growth, first hand, of PolyMedica's, Liberty Home Pharmacy. The quality of Mr. Kieft's research, coupled with the comprehensive analysis of our business plan, will assist the Company in gaining proper awareness among key decision makers in the market and help our investors and potential shareholders obtain a more thorough understanding of MEDirect Latino."
"Given the Company's recent announcements regarding its revenue growth and advertising results it was necessary to revisit financial expectations," stated Gerald Kieft, President, Wall Street Resources, Inc. "Upon further review, it was clear that MEDirect was performing above prior expectations in a number of areas including gross margins, closing ratios and average revenue per new customer. We are very pleased to see a company whose operations are exceeding our original expectations, and we see nothing but a very bright future for MEDirect Latino."About MEDirect Latin
MEDirect Latino (MLTO) http://www.medirectlatino.org is a rapidly growing, uniquely positioned provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community in the United States and Puerto Rico. MEDirect is the only company positioned to serve the U.S. Hispanic healthcare market as a direct-to-consumer Medicare provider on an authentically national level. The Company's current focus is the distribution of products for the treatment of Type II diabetes specifically because of its disproportionate impact and increasing diagnosis rate within the US Hispanic population, noting an incidence of 120% higher than among non-Hispanic whites. Type II diabetes was also targeted because of its unique status within the Medicare reimbursement regime and because of its high degree of correlation to other chronic conditions such as high blood pressure and heart disease. These other conditions represent considerable future market potential that will allow MEDirect to efficiently scale its model by leveraging its existing client base and infrastructure.
The current Hispanic market for MEDirect's products is conservatively estimated at approximately $748M in the continental United States. The size of the opportunity is understated by such figures as an estimated 1.2 million of the over 4.1 million Hispanics in the United States over 65 eligible to receive Medicare benefits are currently collecting these benefits with an estimate that over 1.4 million of those Medicare-eligible Hispanics have diabetes (implying a potential continental U.S. market for MEDirect products of approximately $1 billion).About Wall Street Resources, Inc.:
Wall Street Resources, Inc. and its affiliated site http://www.wallstreetresources.net is a leading source for information on micro-to-small capital publicly traded companies and exchange traded funds. Wall Street Resources (WSR) provides consulting services to help corporate executives and financial tools and publications to help investment professionals. Business consulting services include writing analytical reports, building financial models, and developing business plans. Financial tools and publications include daily and monthly newsletters, trading alerts, and featured company reports.
Past performance is no guarantee of future results. We, our affiliates, and any officer, director or stockholder or any member of their families may have a position in and may from time to time purchase or sell any securities discussed in our financial publications or included in our newsletters. There may be instances when fundamental, technical, and quantitative opinions may not be in concert. Our associates may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any company mentioned on this web site. WSR is a consultant to the Company and has received $15,000 in cash and 20,000 shares of 144 restricted stock for due diligence fees and consulting services from May of 2005 through October of 2005.Forward-Looking Statements:
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this press release, the Company will appropriately inform the public.
CONTACT: MEDirect Latino Inc.
1551 NW 65th Avenue, Suite 4,
Plantation, FL 33313
Wall Street Resources, Inc., Palm City, Fla.
Gerald N. Kieft