CORAL SPRINGS, Fla., Nov. 8, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members announced the unaudited financial results for the three and nine months ending September 30, 2011. In the Consolidated Statement of earnings the Company reported profits from operations for the quarter of $165,658 on revenues of $1,181,394 as compared to a profit of $198,613 on revenues of $1,100,686 during the same period in 2010. For the nine months ending September 30, 2011 the Company reported a profit of $155,768 on revenues of $3,209,740 as compared to a profit of $366,281 on revenues of $2,856,501 for the same period ending in 2010
Union Dental recently announced it has acquired the exclusive distribution rights for any dental related market for the Drinkable-Air (DA) Atmospheric Water Generation (AWG) machine sold in the USA including, but not limited to, dental offices, dental laboratories, dental equipment manufacturing companies and dental sales companies. www.drinkable-air.com
The Drinkable-Air machine is a patented Atmospheric Water Generator which produces pure water from the air. It eliminates all bacteria through its patented EnviroGuard™ Ozone Bacterial Control System and costs less than bottled water. The bacteria free water produced by DA's AWG and cost savings makes the Drinkable-Air machine a "Green High Tech" improvement for all dental offices. Since it takes the humidity out of the air, makes pure water, lowers the amount of electricity used in air conditioning the office and is more economical that conventional bottled water, it is a welcome addition to all offices that currently use a bottled water dispenser.
Since the machine can operate on any power source that creates electricity, one of the additional uses for the machine is in disaster relief where there is no water available but there is humidity. The Chameleon 12 AWG (one ton unit) holds five gallons of water and can make approximately 14 gallons of water in a 24 hour period at 46% humidity. DA also contract manufactures larger units for home and commercial use such as the Chameleon 1200 which makes approximately 1,200 gallons of water in a 24 hour period.
Recently Union Dental implemented an expansion program to double the size of its dental facility in Coral Springs and received a $1,480,000 loan from Flagler Bank with an SBA guarantee at the current rate of six percent which is adjusted quarterly on the basis of Wall Street Prime Rate plus 2.25%. This loan consolidated all of the long term debt of the company plus included the funds for the built out of the expansion facility which includes all dental equipment to be fully operational upon opening. The expansion will be open in December of this year.
Dr. George D. Green, President and CEO stated: "We are extremely pleased that our revenues have risen and we have maintained profitability while incurring additional expenses in our building, financing and infrastructure expenses on our addition. Being the exclusive distributor for the DA machine in the USA for all dental related markets has already added some royalty revenues from sales of the product this past quarter and will definitely compliment our new expansion."
Contact Information: jhough@jcglobalsecurities.com
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants – Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. Union Dental manages a dental practice in Coral Springs, Florida.
WEBSITE: www.uniondental.com/ir
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.