National Scientific enters into Agreement with New Auditor
May 02, 2012
OTC Disclosure News Service
Phoenix, AZ –
May 2, 2012
Phoenix, AZ –
Michael DeLaGarza, CEO of National Scientific Corporation(Pink Sheets: NSCT) (the Company) announced today that until recently the Company has had insufficient working capital and has been unable to pay their outstanding fees for work performed or for work required by its various legal and accounting professionals to keep the Company current in its filings. Accordingly, Semple, Marchal Cooper,LLP resigned as the auditors for the Company effective December 13, 2011.
The Company announces today that it has entered into a pre-engagement agreement with S E Clark Company, P.C. (SEClark) to start the process of bringing the company into full reporting compliance with the SEC. Once SEClark has satisfactorily completed its pre-engagement due diligence, including communications with the prior auditor, an engagement letter will be issued and the required 8-K announcing their appointment as the auditor of record for the Company will be filed.
The Company has also changed its name to Cloud Medical Doctor Software Corporation (Cloud-MDs) effective immediately. The name change will better represent the new direction of the company’s medical software business. Our new software will be available on May 10, 2012 on two platforms: a standalone web application and an integrated application into the company’s soon to be release “Cloud”application (www.cloud-mds.com).
Cloud-MDs is a “Cloud Based”, 5010 and ICD-10 compliant,medical software solution and service, designed by experienced healthcare programers for healthcare providers, that produces “ActionableInformation” to help Independent Physician Practices, New Care Delivery Models(ACO), Healthcare Systems and Billing Services optimize a wide range ofbusiness processes resulting in, Increased Profits, Higher Quality, GreaterEfficiency, Noticeable Cost Reductions and Better Patient Care. In this era oftighter controls on healthcare spending, continued downward pressure onreimbursements by insurance companies, the lack of reliable patient balancemanagement and unsustainable cost levels, providers are looking for new ways toremain competitive. Cloud-MDs offers Providers the tools, organization andknowledge required to accomplish these critical items and still do what theylove – practice medicine while simultaneously improving the health of theirmedical business. Major components of this ground breaking solution includePractice Management, Electronic Health Care Records, Revenue Management and aBusiness Intelligence (BI) Dash board.
For further information about Cloud Medical Doctor SoftwareCorporation go to www.cloud-mds.com or email@example.com.
Certain statements in this press release that are nothistorical facts are “forward-looking statements” within the meaningof the Private Securities Litigation Reform Act of 1995. Such statements may beidentified by the use of words such as “anticipate,””believe,” “expect,” “future,” “may,””will,” “would,” “should,” “plan,””projected,” “intend,” and similar expressions. Suchforward-looking statements involve known and unknown risks, uncertainties andother factors that may cause the actual results, performance or achievements ofNational Scientific Corporation (the Company) to be materially different fromthose expressed or implied by such forward-looking statements. The Company’sfuture operating results are dependent upon many factors, including but notlimited to the Company’s ability to: (i) defend sell its software; (ii) buildthe management and human resources and infrastructure necessary to support thegrowth of its business; (iii) competitive factors and developments beyond theCompany’s control; and (iv) other risk factors discussed in the Company’speriodic filings with the Securities and Exchange Commission, which areavailable for review at www.sec.gov under “Search for CompanyFilings.”
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