instaCare Corp. Reports First-Ever Profit on Record Revenues; Introduces Fiscal 2006 Financial Guidance.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , N.Y. -- instaCare Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ISCR ISCR Investor Summit on Climate Risk ), a leading distributor of life-saving Life´-sav`ing a. 1. That saves life, or is suited to save life, esp. from drowning; as, the life-saving service; a life-saving station. prescription drugs prescription drug Prescription medication Pharmacology An FDA-approved drug which must, by federal law or regulation, be dispensed only pursuant to a prescription–eg, finished dose form and active ingredients subject to the provisos of the Federal Food, Drug, and a developer of patent-pending technologies for e-health E-health Informatics A philosophy that empowers–E = electronic–health care consumers by bringing information, products and services online and EMR (ElectroMagnetic Radiation) The emanation of energy from everything in the universe. Although the EMR from electrical and electronic devices is typically measured for practical, every-day situations, every object, including humans, emanates energy. applications, today reported financial results for the first quarter ended March 31, 2006. Financial highlights include: --First quarter of profitability in Company's history --Revenues increased 255% from year-ago quarter --Positive operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. reported --Reverse stock split and ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors change completed For the first quarter of 2006, instaCare reported revenues of $7,466,921, a 255% gain from the $2,099,390 recorded during the first quarter of 2005. The increase in revenues was due primarily to sales from the distribution and claims fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. of medical diagnostic and medical disposable products Disposable products are items that are not intended by the manufacturer to be reused more than once or a few times as compared to more permanent serviceable and reusable items. Some products that have disposable versions are:
The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. was mainly a result of management's ability to control overhead costs overhead costs see fixed costs. . During the prior year quarter, the Company experienced non-recurring costs required to support the commencement of significant operations and to write down certain costs associated with its acquisition of CareGeneration, Inc. The Company reported net operating income (EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) of $119,037 or $.02 per share issued and outstanding, during the first quarter of 2006, compared with an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $(998,658) or $(.19) per share issued and then outstanding, recorded during the first quarter 2005. The Company's net income for the three months ended March 31, 2006 was $39,764, or $0.01 per share issued and outstanding, compared with a net loss of $(1,484,909) or $(0.29) per share issued and then outstanding as reported for the year-ago quarter. On February February: see month. 3, 2006, instaCare completed a 1 for 80 reverse stock split. After the split, there were approximately 7,299,763 shares outstanding. instaCare's ticker symbol was changed from INCA to ISCR. Robert Cox Robert Cox may refer to several different people or things:
1. pertaining to or affected with diabetes. 2. a person with diabetes. di·a·bet·ic adj. 1. and asthma asthma (ăz`mə, ăs`–), chronic inflammatory respiratory disease characterized by periodic attacks of wheezing, shortness of breath, and a tight feeling in the chest. A cough producing sticky mucus is symptomatic. control products we distribute grew even faster than our expectations, while at the same time we were able to implement our tight cost control program. This business model has proven successful, and we continue to focus on improving margins across the board while gaining leverage from our efficient cost structure. While we expect some seasonality to this business, with the first and fourth quarter expected to be the strongest, we anticipate that the pace of sales will continue to accelerate through the next few quarters as we gain market share and expand our product lines." instaCare had cash and equivalents of $643,910 as of March 31, 2006. Financial Guidance instaCare established financial guidance regarding revenues for the remainder of 2006. Management based this guidance using such factors as the current revenue run rate and the market demand for its products at certain price and profit levels. Management also took into account the seasonality of the business. Based on management's estimate, it is believed that revenues for fiscal 2006 will be within a range at the lower end of $20 million and the higher end Coordinates: For other places with the same name, see Billinge. Higher End or Billinge Higher End is a district of the Metropolitan Borough of Wigan, in Greater Manchester, England. of $26 million. Forward Looking Statements: This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. about our business or financial condition that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or that we are unable to predict. When used in this release, words such as "believes," "expects," "forecasts," "intends," "projects," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain statements not accompanied by such expressions. For further information, visit the company's Web Site: http://www.instacare.net or http://www.caredecision.net
instaCare Corp.
Consolidated Statement of Operations
Unaudited
For the three months ended
March 31,
------------------------
2006 2005
----------- ------------
Revenue $7,466,921 $2,099,390
Cost of sales 6,807,820 1,902,741
----------- ------------
Gross profit 659,101 196,649
----------- ------------
Expenses:
General & administrative expenses 128,369 174,937
Payroll expense 163,568 256,869
Professional fees 65,885 278,618
Consulting fees - related party - 115,290
Consulting fees 74,325 346,380
Hardware costs - 10,075
Impairment loss on operating assets - -
Depreciation and amortization 107,917 13,138
----------- ------------
Total expenses 540,064 1,195,307
----------- ------------
Net operating income (loss) 119,037 (998,658)
Other income (expense):
Interest income - 3,531
Financing costs - (441,083)
Interest (expenses) (79,273) (48,699)
----------- ------------
Net income (loss) $39,764 $(1,484,909)
=========== ============
Weighted average number of common
shares outstanding - basic and fully diluted 7,295,042 5,176,202
=========== ============
Net income (loss) per share - basic and fully
diluted $0.01 $(0.29)
=========== ============
instaCare Corp.
Consolidated Balance Sheet
Unaudited
Assets March 31,
2006
Current assets:
Cash and equivalents $ 643,910
Accounts receivable 497,433
Inventory 351,355
Prepaid expenses 100,476
-------------
Total current assets 1,593,174
-------------
Fixed assets, net 118,215
-------------
Other assets:
Deposits 3,412
Loan fees, net of amortization 24,458
-------------
Total other assets 27,870
-------------
$ 1,739,259
=============
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $ 297,478
Accrued expenses 62,801
Accrued interest 23,639
Convertible notes payable 1,365,006
-------------
Total current liabilities 1,748,924
-------------
Stockholders' (deficit):
Preferred stock, $0.001 par value, 3,249,000 shares
authorized, 207,526 shares issued and outstanding 208
Preferred series "A" stock, $0.001 par value, 750,000
shares authorized, no shares issued and outstanding -
Preferred series "C" stock, $0.001 par value, 1,000,000
shares authorized, 20,000 shares issued and outstanding 20
Preferred series "D" stock, $0.001 par value, 1,000
shares authorized, no shares issued and outstanding -
Common stock, $0.001 par value, 1,750,000,000 shares
authorized, 7,304,200 shares issued and outstanding 7,304
Unamortized warrants and options (10,139)
Additional paid-in capital 14,999,858
Accumulated (deficit) (15,006,916)
-------------
(9,665)
-------------
$ 1,739,259
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