Message #1 From:
Stock News Bot Date: July 31, 2006 06:00:00 AM
ISCR News InstaCare Corp. and Pinnacle Investment Partners, LP Announce Additional Investment and Maturity Extension on 2004 Primary Financing
NEW YORK--(BUSINESS WIRE)--July 31, 2006--InstaCare Corp. (OTCBB:ISCR) a leading Wi-Fi PDA technology provider to the lodging and satellite media industries, the developer of patent-pending technologies for Wi-Fi PDA e-health and EMR applications, and a distributor of life saving/enhancing prescription drugs and diagnostics, announced today that the convertible note with Pinnacle Investment Partners, LP has been extended until the end of December 2006. The extension also included an additional investment by Pinnacle. Additional extensions and investments are also contemplated.
InstaCare Chairman and CEO Robert Cox said, "The extension of our primary funding from Pinnacle Investment Partners re-affirms our drug and diagnostics distribution strategy driven by our MD@Hand e-health technologies, and is a vote of confidence for our overall business model. The Pinnacle funding, initiated in March 2004, has allowed InstaCare to step up our hiring and deliver over $20 million of prescription drugs and diagnostics. This funding has also allowed us to prepare hundreds of MD@Hand units for a broad e-health initiative that we shortly plan to implement in partnership with an institute of the Mexican government and quickly thereafter with a major trade union."
Chris Janish, President of Pinnacle Investment Partners, LP, said, "InstaCare Corp.'s technology driven distribution model is unique to the medical industry and meets a timely need in an important sector of our economy, where people have become accustomed to higher costs, complicated access to services and products and the frustration of inefficiencies. Additional financings are now being discussed for the expected launch of the ISCR Mexican e-health initiative and the current focus on the nation's medically uninsured. We are excited about the short term and longer term prospects of our investment. Specifically, we are particularly excited that the equity portion of our investment now has the potential for tremendous returns based on what we view as an undervalued stock price at today's levels."
For more information, visit the InstaCare Web Site: http://www.instacare.net/ or contact Carla Hintz, the Wells Group 480-391-7400.
For those interested in a more detailed analysis of InstaCare Corp., its business and prospects, please visit www.wassermanmorris.com and type in the access code ACE to receive copies of several recent independent research reports published by Wasserman-Morris detailing InstaCare.
Safe Harbor Statement from InstaCare Corp: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting retailers; continuing success introducing new products; the Company's ability to finance its planned expansion efforts; and changes in regulations affecting the Company's core business. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law.
