MMR Information Systems, Inc. Announces Intent to File Annual Report on Form
10-K on April 15, 2009
LOS ANGELES, April 14 /PRNewswire-FirstCall/ -- MMR Information Systems,
Inc. (OTC Bulletin Board: FVRL), which through its wholly-owned operating
subsidiary, MyMedicalRecords, Inc. (collectively, "MMR") provides consumer-
controlled Personal Health Records ("PHRs") (http://www.mymedicalrecords.com)
and electronic safe deposit box storage solutions
(http://www.myesafedepositbox.com), today announced its intention to file its
annual report on Form 10-K for the year ended December 31, 2008 with the
Securities and Exchange Commission ("SEC") on Wednesday, April 15, 2009.
"We are pleased to be able to complete this second major milestone in our
public reporting requirements following the completion of the business
combination with MyMedicalRecords, Inc.," said Robert H. Lorsch, Chairman and
CEO of MMR Information Systems, Inc. "Completing the merger on January 27,
2009 just after year-end put us in the unusual position of having to report
on, and include in, this Form 10-K the audited financials of our company as it
existed on December 31, 2008, when we were still a shell company. Now, that
we have completed this step, we need only finalize the audit of the stand-
alone financials for MyMedicalRecords, Inc. at December 31, 2008, and file
those with the SEC by amending our "super" Form 8-K within the 90-day period
required under SEC rules before we can move forward and report on a
consolidated basis."
The business combination with MyMedical Records, Inc. (formerly
mymedicalrecords.com, Inc.) is accounted for as a reverse acquisition and, as
a result, MMR Information Systems, Inc.'s (formerly Favrille, Inc.) (the legal
acquirer) consolidated financial statements will now be, in substance, those
of MyMedicalRecords, Inc. (the accounting acquirer), with the assets and
liabilities, and revenues and expenses, of MMR Information Systems, Inc. being
included effective from January 27, 2009 (the closing date of the business
combination). However, because the business combination was not completed
until January 27, 2009, after the end of MMR Information Systems, Inc.'s most
recent fiscal year on December 31, 2008, the annual report on Form 10-K for
the year ended December 31, 2008 must include the audited financial statements
of MMR Information Systems, Inc. the legal acquirer, as of December 31, 2008
(e.g., prior to the closing of the business combination).
MMR also continues to work diligently with FINRA to obtain a new symbol in
light of the new name of the company and will update stockholders once a new
symbol is obtained.
About MMR Information Systems, Inc.
MMR Information Systems, Inc. (formerly Favrille, Inc.), through its
wholly-owned operating subsidiary, MyMedicalRecords, Inc. (collectively,
"MMR"), provides secure and easy-to-use Web-based storage solutions, serving
consumers, healthcare professionals, employers, insurance companies, unions
and professional organizations. Seeking to empower consumers to have greater
control over their health and well-being, MMR facilitates access to medical
records and other important documents, such as living wills, birth
certificates, passports, advance directives and insurance policies, anytime
from anywhere using the Internet. MMR's principal product, the
MyMedicalRecords PHR service, accessed through
http://www.mymedicalrecords.com, is built on proprietary patent-pending
technology that enables users to transmit documents, images and voicemail
messages in and out of the MyMedicalRecords PHR system using a variety of
methods, including fax, phone, and file upload without relying on any specific
electronic medical record platform to populate a user's account. Users and
medical providers can fax paper records (such as laboratory tests, radiology
reports and physician's notes), or scanned images can be uploaded, into a
secured personal account, which the user can access and organize as necessary,
including filing particularly sensitive documents in virtual lockboxes
protected by secondary passwords, and designating certain records as
accessible to medical personnel and first responders by way of a separate
Emergency Login. MyMedicalRecords PHR also includes the Cerner Multum Drug
Content database, licensed to MMR from Cerner Corp. (Nasdaq: CERN). MMR also
offers its MyEsafeDepositBox service, available at
http://www.myesafedepositbox.com, which is designed to provide secure online
storage for vital financial, legal and insurance documents in addition to
medical records using the same patent-pending technologies that drive the
MyMedicalRecords PHR service. In its final stages of development, MMR's
MyMedicalRecords Pro service is designed to give physician's offices a cost-
effective solution to the expensive and time-consuming problem of digitizing
paper-based medical records. MMR clients include AFL-CIO, Alexian Brothers
Hospital Network, Coverdell, MedicAlert, Midwest Research Institute, Qvisory,
XN Financial and others. MMR is also one of the integrated service providers
that launched on Google Health. Additional information regarding MMR's
business and its products, including trial accounts, is available at
http://www.mymedicalrecords.com and http://www.mmrinformationsystems.com.
Information on MMR's Web sites is not incorporated by reference into this
press release.
SOURCE MMR Information Systems, Inc.
Bobbie Volman of MyMedicalRecords, Inc., +1-310-476-7002, ext. 129,
bvolman@mmrmail.com
