TOM'S RIVER, N.J., April 06, 2020 (GLOBE NEWSWIRE) -- Quad M Solutions, Inc. (OTC: MMMM) through its subsidiaries NuAxess, OpenAxess, and PrimeAxess has commenced the process of developing and coordinating the onboarding with its Joint Venture partner Infiniti HR Inc.’s nearly 70,000 ‘co-employees’ into PrimeAxess Inc. and OpenAxess proprietary comprehensive major medical health and benefits plans. PrimeAxess health plans include a health savings account (HSA) program that will assist in the funding of the employee HSA. The Company is estimating that its programs will add nearly 1,400 of Infiniti’s co-employees by May 2020 and an additional 3,000-4,000 co-employees by July 2020. The Company started sales in November 2019 and has added more employee lives each month. The Company presently has approximately 250 members. Each member (families count as one member) generates approximately an average of $1,000/month of revenue and $200/month of operating profit. Given the projected onboarding numbers, the Company estimates it will generate $5 million/month or $60 million/year of revenue starting in July 2020. This will generate approximately $1 million/month and $12 million/year of operating earnings starting in July. Mr. Pat Dileo, the Company CEO, stated, “Our JV with Infiniti HR that started in late 2019 and preceded the current national health and economic crisis and today we believe our member on-boarding will exceed previous projections as we have telehealth, telemedicine, and tele mental health built into our plan designs and ready to go. In the second half of 2020 our cash flow should be sufficient to remove all existing convertible debt in the Company if we choose an internally fund our growth. The JV with Infiniti HR means the coming estimated 40% premium cost increases by the fully insured health plan carriers will be negated for those Infiniti HR employee clients switching to PrimeAxess plans. The JV’s excess cash flow when all the employees are onboarded is estimated at $60+ million/month or $720 million/year of revenue and correspondingly $12 million/month or nearly $144 million/year of operating earnings. This projection estimate is with only our one PEO contract with Infiniti HR. The JV plans to bring our solutions to many other PEO companies. The Infiniti HR contract is in process, and our best estimates could accelerate or decelerate by a month or so due to the Covid 19 unknowns.”
Information on Forward Looking Statements
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, Quad M Solutions, in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
For Further Information:
Pat Dileo
CEO, Chairman, Quad M Solutions, Inc.
732-423-5520
844-NuAxess