LOS ANGELES, Jan. 19, 2012 /PRNewswire/ — BG Medical Technologies, Inc. (OTC:RIGH) announces the successful completion of a reverse merger with RightSmile, Inc. BG Medical, headquartered in Los Angeles, California, will operate under the leadership of a new management team led by Chief Executive Officer, Angel Stanz. The Company is working with counsel to file the appropriate documents with FINRA to promptly complete its formal name and symbol change.
BG Medical Technologies, Inc. has exchanged 100% of its outstanding shares for 4 million shares of preferred stock and 200 million shares of restricted common stock. Currently the Company does not have authorized shares remaining to issue BG Medical required stock and will look to increase its authorized shares to issue restricted shares to BG Medical. BG Medical plans to use stock options as incentives to attract seasoned talent to its workforce. This will enable the Company to accelerate development and expedite its future business plans. BG Medical will also resume the task of uplisting the Company to the OTC Bulletin Board by engaging the team that began an audit in 2010.
BG Medical is a technology and services provider for the medical cannabis industry. The company delivers an educational consumer experience through an expanding suite of software and services. BG Medical’s flagship brand, BudGenius.com, is an online portal providing medicine matching and directory services enabling patients to select and locate the most effective cannabis for their ailments. BG Laboratories provides potency, pesticide, and contaminant analysis reporting for medical cannabis. BG Medical has provided testing services for over 240 cannabis dispensaries, farmers, and product manufacturers. BudGenius.com receives over 2,000 visits daily from patients looking to locate applicable medicine for their medical needs.
The Company completed 3,000 cannabis tests for year ending 2011, and projects over 10,000 cannabis tests for year 2012. BG Medical will capitalize on new 2012 revenue streams in targeted advertising programs for web and video, the launch of an on-demand video network, software licensing revenue, and patient loyalty programs. BG Medical adds $662,000 in assets to the current balance sheet of the public entity as well as projected revenues for 2012 upwards of $6,500,000. Full revenue stream projections will be released on or prior to February 1st.
BG Medical Technologies does not sell, grow, harvest, cultivate, nor distribute medical cannabis.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management’s expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.