Tuesday September 29, 2009
Patient Access Solutions, Inc. Retains New Independent Auditor
Michael T. Studer CPA P.C. to Review Financial Statements as Company Takes Steps to Return to an OTCBB Exchange Listing
HAUPPAUGE, N.Y., Sept. 29, 2009 (GLOBE NEWSWIRE) -- Patient Access Solutions, Inc. (Pink Sheets:PASO - News), a leading provider of healthcare/financial processing solutions for the healthcare, homecare, nursing LTNC and dental industries, announced today that it has retained the firm of Michael T. Studer CPA P.C. of New York. Michael T. Studer CPA P.C. is registered with the Public Company Accounting Oversight Board to perform audits for fully-reporting publicly traded companies.
The Studer firm will initially complete the review of PAS's financial statements for the nine months ended July 31, 2009.
It is the Company's intent to return to being a fully reporting public company under the Securities Exchange Act of 1934, as amended and re-apply to have its securities quoted for trading on the OTC Bulletin Board.
When it first began trading as a public company, Patient Access Solutions Inc. had been quoted on the OTC Bulletin Board. But in a letter to shareholders in March 2009, "The Company's recent filing of Form 15 to become a non-reporting company, has moved the company's listing from the OTCBB to the Pink Sheets. The time and costs associated with being a fully reporting company have become a burden on many small public companies. As a result a management decision was made to save in excess of $100,000 per year by becoming a non-reporting company."
The Company's stock was subsequently listed on the Pink Sheets.
"We're pleased to announce this significant step in the continued, overall progress of Patient Access Solutions Inc.," said Bruce Weitzberg, President and CEO of PAS. "We believe that returning to a fully reporting company status, as opposed to being a non-reporting company, can provide us with enhanced credibility and help us showcase the Company and its exciting technology to a broader market."
About Patient Access Solutions, Inc.
Patient Access Solutions, Inc. (PAS) is a Healthcare Solutions Company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare information technology environment. The Company's products are designed to allow healthcare providers an easy migration of the EMR environment. Among these products are D-PAS, which is a state-of-the-art digital pen and paper technology based on Anoto technology, used to capture handwritten information into digital forms and EMR systems and PAS Data Center, which is a terminal solution that allows healthcare providers to quickly and easily determine benefit eligibility. More information on Patient Access Solutions, Inc. and its products can be viewed at pashealth.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future.
