DALLAS, TX — (Marketwired) — 02/16/16 — MedCAREERS Group, Inc. (OTC: MCGI), a development stage company and owner of Nurses Lounge, a professional network for nurses, announced they recently consolidated all of their short-term toxic debt with a single, vision-friendly investor.
By consolidating these notes into more friendly hands and alleviating investor fear of constant major dilution, the consolidation will hopefully allow MCGI to grow to a more realistic market cap. One that a winner-take-all business model with growing membership and sales should support.
MCGI, with just under 500 million shares issued and outstanding, has traded recently in the $0.0006 range giving it a market cap of around $300,000. Should the price rise over time to between $.005 to $0.01 the market cap would equate to between $2.5 million and $5 million, which, one can argue, would still be below valuations that growing privately held platform business model companies are receiving from venture capitalists at this stage of their business.
MedCAREERS Group, Inc.–s focus is to develop and build value through its wholly-owned subsidiary Nurses Lounge, Inc., an online professional network for nurses and stakeholder organizations such as nursing schools, associations and employers. By consolidating the profession onto one simple to use networking platform, organizations receive a cheaper, faster and more effective way to communicate to the broader nursing profession as well as a more targeted and efficient platform for nurse recruiters.
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This press release may contain forward-looking statements, including information about management–s view of the Company–s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct (i) its own forward-looking statements, except as required by law, or (ii) those prepared by third parties that are not paid for by the Company.
For more information, contact:
Tim Armes
Phone: 972-393-5892
Email:
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