instaCare Comments on Recent Developments.
The Company is working with law enforcement officials in Scottsdale, Arizona and is planning to meet with Federal authorities in the near future to share their findings in these matters relating to Mr. Kelly and his alleged actions in regards to instaCare's assets, business, and the integrity among customers.
Robert Cox, instaCare CEO stated, "We have diligently worked for the past six months to expand our drug distribution strategy and integrate our medical software and hardware technologies to provide a compelling approach to reduce prescription costs for the 40+ million underinsured and uninsured Americans. Our goal is to provide a comprehensive solution for reducing prescription costs while offering physicians a feature application that promotes the utilization of our drug distribution business as the value proposition that instaCare represents. This is the image that we intend to uphold and maintain with our customers," Mr. Cox concluded.
The Company's special counsel is also investigating a series of allegations that differ from Mr. Kelly's formal version, relating to a lawsuit filed in August of 2004 by Purity Wholesale Grocers, Inc. d/b/a Supreme Distributors Company ("Purity") in which Purity demands payment of $1,905,972. The suit was filed in the Circuit court of McDonough County, Illinois on August 6, 2004. The Company has been informed that Mr. Kelly has stipulated to a judgment in this matter.
For a detailed overview of the circumstances surrounding these events, shareholders are urged to review the Company's recent 8-K material report filed with the Securities and Exchange Commission on Thursday, June 16, 2005 at http://www.sec.gov.
About instaCare Corp.
instaCare Corp. is an emerging fulfillment provider of prescription drugs through several profitable and opportunity laden medical distribution channels. The company is also a leading provider of Internet-enhanced PDA devices applicable to healthcare, lodging, and satellite rebroadcast industries. Its proprietary ResidenceWare, MD@Hand and Satelink, technologies manage critical data, enhance productivity and e-commerce, and facilitate communication with applications in the healthcare, apartment, hotel/motel and satellite rebroadcast industries.
This release contains forward-looking statements 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 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. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.
For further information, visit the company's Web Site: http://www.instacare.net or http://www.caredecision.net.
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|Date:||Jun 16, 2005|
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