HOUSTON, May 12, 2004 (PRIMEZONE) -- Pediatric Prosthetics Incorporated (Pink Sheets:PDPR) today announced that start-up costs, including build-out and equipping its national headquarters, securing contracts with major insurance companies, and receiving full accreditation of their home facility, have been accomplished within the planned budget.
Revenue and accounts receivable accrued are 2.554 times the pre-start-up projections.
Even more gratifying to management, the launch of its aggressive national publicity/advertising campaign has already generated sufficient "new patient-family" fitting appointments, that combined with established customers, should comfortably exceed second quarter projections as well.
According to Kenneth Bean, VP Operations, "The warm response from these young families has been pretty overwhelming. In these days, when moms routinely get a sonogram midway through their pregnancy and discover their baby has a missing limb, they begin searching for answers. It is a genuine honor when they discover our Website and e-mail us or call us, even several months before their delivery, and we can begin to reassure them that their baby is going to do just fine." www.kidscanplay.com
PDPR management is fully committed to supporting these young parents to-be. One crucial effort is getting them in touch with families who have older children wearing a state-of-the-art pediatric prosthesis ... and doing very well. Another facet of the effort is simply answering the multitude of questions that haunt young parents who are facing these challenges.
Patrick Arnett, PDPR's consultant, made this observation: "I realized almost immediately that on a national basis there was a giant opportunity. No one had ever before committed to this effort of fitting the children and supporting their parents on a national basis. A privately held company could never build its capital base quickly enough to fulfill that commitment. The public vehicle is the proven formula for expanding rapidly enough to meet the need confronting it."
Statements made in this press release are forward-looking statements. Investors are cautioned that forward-looking statements are uncertain. Actual performance and results may differ materially from that projected or suggested due to certain risks and uncertainties, including, without limitation, risks associated with operations, the availability of capital on a reasonable term and the effects of government regulations and operations risks. The forward-looking statements contained herein reflect the Company's judgment as of the date of this release, and the Company cautions readers not to place undue reliance on these statements.