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MMR Information Systems, Inc.: MMR Information Systems, Inc. Files Second Quarter 2009 Form 10-Q

  //health-fitness.news-articles.net/content/2009/ .. ems-inc-files-second-quarter-2009-form-10-q.html
  Published in Health and Fitness on Thursday, August 27th 2009 at 3:18 GMT, Last Modified on 2009-08-27 03:18:23 by Market Wire

LOS ANGELES, CA--(Marketwire - August 27, 2009) - MMR Information Systems, Inc. (OTCBB: [ MMRF ]) (the "Company"), which through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. ("MMR") provides consumer-controlled Personal Health Records ("PHRs") ([ www.mymedicalrecords.com ]) and electronic safe deposit box storage solutions ([ www.myesafedepositbox.com ]), today announced that the Company has filed its second quarter Form10-Q for the period ended June 30, 2009 with the U.S. Securities and Exchange Commission. The delay in filing was as a result of a reassessment of the Company's contractual obligations to deliver shares in the event that all option and warrant holders exercised those contracts.

The condition initially arose upon the merger between MyMedicalRecords.com, Inc. and Favrille, Inc. on January 27, 2009. The condition was remedied on June 13, 2009 when certain non-employee option and warrant holders waived their rights under those contracts. On that date, the derivative liabilities were reclassified back into equity and a gain of $1,288,856 for the three months ended June 30, 2009 was recognized related to the decrease in value of those liabilities between March 31, 2009 and June 13, 2009. Further details of this accounting issue and the Company's treatment of it can be found in the Company's filings with the SEC.

According to Robert H. Lorsch, Chairman and Chief Executive Officer, "We are pleased that the Company is again current in its filings and is in the process of signing MMRPro Beta sites at a time of tremendous opportunities created by the Obama Administration and Congress's emphasis on the importance of personal health records."

About MMR Information Systems, Inc.

MMR Information Systems, Inc. (OTCBB: [ MMRF ]), through its wholly-owned operating subsidiary, MyMedicalRecords, Inc. ("MMR"), provides secure and easy-to-use online Personal Health Records ("PHRs") and electronic safe deposit box storage solutions, serving consumers, healthcare professionals, employers, insurance companies, unions and professional organizations. MyMedicalRecords enables individuals and their families to access their medical records and other important documents -- such as birth certificates, passports, insurance policies and wills -- anytime from anywhere using the Internet.

The MyMedicalRecords PHR service, accessed through [ www.mymedicalrecords.com ], allows documents, images and voicemail messages to be transmitted and stored in the MyMedicalRecords PHR system using a variety of methods, including fax, phone, or file upload without relying on any specific electronic medical record platform.

The proprietary MyEsafeDepositBox service, available at [ www.myesafedepositbox.com ], provides secure online storage for vital financial, legal and insurance documents in addition to medical records, and serves as a powerful emergency preparedness tool for industry, individuals and municipalities.

Information about the MyMedicalRecords Pro ("MMRPro") service, designed to give physicians' offices an easy and cost-effective solution to digitizing paper-based medical records, is available at [ www.mymedicalrecordsmd.com ].

To learn more about MMR Information Systems, Inc., visit [ www.mmrinformationsystems.com ].