NEW YORK, Aug. 4, 2005 (PRIMEZONE) -- My Medical CD, Ltd. (Pink Sheets:MYMC) today announced they have signed a financing agreement with U.S.-based investment fund The Nutmeg Group LLC (www.tngroupllc.com), that provides $120,000, initially, which allows My Medical CD to attain its financial goals and fulfill its acquisitive commitments.
Randall S. Goulding, Managing Director of The Nutmeg Group, LLC, said, "We are anxious to assist My Medical CD in meeting its ongoing financing needs, facilitating strategic relationships, and we look forward to a long-term, mutually profitable relationship with the Company."
The Nutmeg Group, LLC and its principals have been successful in raising capital through private placements and stock loans. With more than $30 million under management, The Nutmeg Group, LLC, is a value-added private capital investment firm and a full service investment and financial consulting organization, dedicated to helping growth companies emerge as industry leaders. Staffed with an impressive array of diverse talents and a robust infrastructure, Nutmeg stands committed to facilitating My Medical CD's success, as it is for all of its portfolio companies.
Loren Comitor, President of CCM&A, Nutmeg's advertising and marketing affiliate, will endeavor to facilitate new marketing arrangements for My Medical CD. Additionally, Nutmeg intends to enhance the My Medical CD's website and assure that the company's image will reflect and be commensurate with its outstanding prospects.
"Our investment and ongoing commitment is prompted by our extreme optimism about the outlook for My Medical CD and its capacity to ramp up its operation to seize opportunities," said Goulding. "We believe the current valuation does not sufficiently reflect its opportunities near- and long-term. We are impressed with My Medical CD's talented management resources," Goulding continued. "We plan to play a vital and continuing role in My Medical CD's very promising future. We are pleased to be working in a partnership with My Medical CD to better position it to grow. In fact, the specific reason for this additional cash infusion is to focus on creating new business opportunities and joint ventures."
"Having received the first infusion of working capital from The Nutmeg Group has enabled us to move forward with our business model at an accelerated pace," said Jim Hogan, President and CEO of My Medical CD. "It is very comforting having a company like Nutmeg with millions of dollars in resources behind us."
About My Medical CD:
My Medical CD, Ltd. produces and markets an interactive mini CD that contains a personal medical history encoded on the CD. The size enables it to be carried in the wallet, pocket, or purse. Benefits of the CD include (i) It can be read in seconds by emergency personnel, (ii) It eliminates guesswork in treatment, and (iii) It reduces the possibility of long-term complications from emergency treatment. (iv) It acts as a gateway to a database which contains the patient's entire file with important up-dates of events that took place after they received their CD. (v) This enables the attending physician to have the patient's most recent records at his disposal.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the internet, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward looking statements or the occurrence of unanticipated events.