MISSISSAUGA, ON -- (Marketwire) -- 08/25/09 -- HearAtLast Holdings, Inc. (PINKSHEETS: HRAL), a leading provider of suitable affordable solutions to clients with
hearing needs in the billion dollar hearing loss market, announced today
that through the addition of Louis Isabella; CFO; and the Evans Martin
group, the Company has identified several significant cost cutting
measures.
The new direction of HearAtLast Holdings, Inc. sees dramatic reductions in
operating costs across the board. Restructuring at the corporate level will
enable HearAtLast to successfully reduce management monthly expenses by
approximately $240,000 without diminishing the team or duties of
management.
With the new revenue and community outreach model developed by Robert J.
Oswald and Pierre LaFontaine now in place, the clinic operating expenses
have also been reduced by $20,000-$30,000 per clinic or upwards of $500,000
annually moving forward. "These resources can now be channeled into
marketing and brand awareness, let alone the bottom line," states Louis
Isabella; CFO. "We as a company and management team have simply assumed
more responsibility at all levels of the operation, thus creating a
break-even point and profitability well ahead of previous forecasts thus
increasing shareholder value."
About HearAtLast
HearAtLast Holdings, Inc. is a Nevada corporation that owns and operates
its wholly-owned subsidiary of hearing stores co-located within select
Wal-Mart stores throughout Canada. Their chain of hearing stores
specializes in the sale of digital hearing aids and testing services. The
Company is the affordable hearing solution for Canadians, combining the
most sought after retail space in North America with convenience and
location. HearAtLast provides State of the Art Hearing Testing and
Dispensing services to individuals with all types of measurable hearing
loss.
HearAtLast facilities sell a selection of high quality brand name hearing
aids and also offer complimentary screening tests, clinical hearing tests,
high end ear buds and assistive listening devices. The Company's mission is
to consolidate the highly fragmented hearing services industry while
providing unparalleled service to the estimated 30+ million hearing
impaired individuals throughout North America. After a prescription is
approved, the independent on-site audiologists and hearing aid
practitioners at HearAtLast utilize a refined process to dispense the
latest in Name Brand digital hearing aids.
For more information please visit www.hearatlast.com
Safe Harbor
Statements about the Company's future expectations and all other statements
in this press release other than historical facts, are "forward-looking
statements" within the meaning of Section 27A of the Securities Act of
1933, Section 21E of the Securities Exchange Act of 1934, and as that term
is defined in the Private Securities Litigation Reform Act of 1995. The
Company intends that such forward-looking statements be subject to the safe
harbors created thereby.
The above information contains information relating to the Company that is
based on the beliefs of the Company and/or its management, as well as
assumptions made by any information currently available to the Company or
its management. When used in this document, the words "anticipate,"
"estimate," "expect," "intend," "plans," "projects," and similar
expressions, as they relate to the Company or its management, are intended
to identify forward-looking statements. Such statements reflect the current
view of the Company regarding future events and are subject to certain
risks, uncertainties and assumptions, including the risks and uncertainties
noted. Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove to be incorrect, actual results may
vary materially from those described herein as anticipated, believed,
estimated, expected, intended or projected. In each instance,
forward-looking information should be considered in light of the
accompanying meaningful cautionary statements herein. Factors that could
cause results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services and
pricing and general economic risks and uncertainties.
Investor Relations:
HearAtLast Holdings, Inc.
Aldo Rotondi
416-436-3795
investorrelations@hearatlast.com