ABHI NEWS: AmbiCom Receives Additional $1.2 Million Purchase Order From a Major Client SAN JOSE, CA, Nov 03, 2010 (MARKETWIRE via COMTEX) -- AmbiCom Holdings, Inc. /quotes/comstock/11k!abhi (ABHI 0.17, +0.01, +6.25%) , a leader in the development of wireless products for medical equipment suppliers, today announced that it has received a new $1.2 million purchase order from a major client for AmbiCom's Wi-Fi solution to be used in infusion pumps for North American customers. The smart infusion technology, which has been developed by the major global corporations, relies on wireless capability to dramatically reduce medication errors and allow health care workers to continually monitor their patients' drug usage, thereby helping to ensure patient safety. Product for the international market however, which also utilizes AmbiCom's wireless solution, is scheduled to be shipped to major hospitals and clinics in the later part of next year.
About AmbiCom AmbiCom is headquartered in San Jose, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value.
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on November 13, 2007, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Contact: Beverly Jedynak Martin E. Janis & Company, Inc. 312-943-1123 Email Contact
Ambicom Holdings (OTCBB: ABHI) is an up-and-coming Company with solid growth prospects.
So, if you're looking for a growth stock that operating in a fast growing industry... I highly encourage you to look at ABHI.
Top 4 Investment Highlights for ABHI
#1. ABHI is in One of the Fastest Growing Segments Within the Medical Industry
According to an ABI Research study, industry expert expect the wireless medical device and module category to be one of the fastest growing categories within the medical industry, growing at approximately 57.8% per year through 2011.
#2. Large Purchase Order Received that Could Bring up to Ten Million Dollars or More In June, ABHI announced that it has received its initial purchase order worth two hundred fifty thousand dollars under a four-year exclusive manufacturing agreement with a major pharmaceutical and medical device company. "The potential growth of this business is quite impressive," said John Hwang, Chairman and CEO of AmbiCom. "This agreement could bring up to ten million dollars or more to AmbiCom during the four year term of the agreement."
#3. ABHI's Ability to Ramp Up Sales Through Additional Financing
In September, ABHI announced that it has signed a one million dollar credit facility accounts receivable financing facility with East West Bank, one of the largest independent commercial banks headquartered in California."This credit facility enables us to continue to ramp up our sales among the healthcare, automotive and gaming industries," said John Hwang, Chairman and Chief Executive Officer of AmbiCom.
#4. Major Clients are Buying ABHI's Products and Technologies ABHI announced that it has received a new $1.1 million purchase order from a major client for AmbiCom's Wi-Fi solution to be used in infusion pumps for North American customers. This marks the fifth purchase order that AmbiCom has received from this client, after choosing AmbiCom as a sole supplier for the wireless component since 2007. This marks the fifth purchase order that AmbiCom has received from this client, after choosing AmbiCom as a sole supplier for the wireless component since 2007.
ABHI has displayed that it has proven products in a market that is positioned to grow, especially as the baby-boomer market continues to be a catalyst for increased demand for their product portfolio.
The proof is not only displayed by their solid sales and distribution channels, but based upon the Company's latest quarterly report that stated ABHI (1) generated over eight hundred thousand in revenues (2) four hundred thousand dollars in profits.
We've had a number of winners... and I believe ABHI could be another winner to chalk up on the board of profitable trade ideas!