The Company reported total sales of $6,050,421 for fiscal 2011, down 15% from $7,088,837 reported for fiscal 2010. This decline in revenue was primarily attributed to the significant reduction in sales during the fourth quarter resulting from reduced demand from the U.S.A. military market. Gross margin of $3,855,021 for the year ended September 30, 2011 decreased to 68% of the sales from 72% one year ago, primarily due to the lower sales. In addition, the continuous appreciation of the Canadian dollar against U.S dollar is another major contributor for the lower margin this year. The total operating expenses decreased 8% to $4,070,205 from $4,442,124 of last year as a result of lower expenses incurred on salaries and benefits, professional fees and travel expenses.

The Company also reported a net loss of $194,184 this year, or loss of $0.01 per share, compared to a net income of $283,415 or earning of $0.02 per share for fiscal 2010. Earnings before interest, depreciation, amortization and taxes (“EBITDA”) from continuing operations decreased to $530,284, 9% of the sales compared with the EBITDA of $1,041,438, or 15% of the sales for fiscal 2010.

For the fourth quarter ended September 30, 2011, the Company recorded sales of $995,611, a decrease of $1,638,184 or 62% as compared with $2,633,795 for the comparative quarter of fiscal year 2010. The operating expenses increased by 9% to $1,160,853. The net loss rose to $635,320 which reversed out the net income earned in the comparative quarter one year ago due to lower sales from the U.S.A. military in 2011.

As at September 30, 2011, the Company had a cash balance of $195,414 and working capital of $113,710, representing a decrease of $87,579 and $647,545 respectively, compared to the year ended September 30, 2010. The significant decline in working capital was caused by the decrease in sales combined with FASTx re-launch costs (estimated at US$2,000,000).

The Company is currently pursuing additional debt and/or equity financing to fund its working capital needs. Management hopes to secure the necessary financing through the combination of new credit facilities and issuance of new equity or convertible debt instruments. There can be no assurance that these initiatives will be successful.

The Company also announced that one of the Audit Committee members Michael Jacobs has resigned from the Audit Committee leaving three remaining members, the majority of which the Company believes to be independent, and thus the resignation will not impact the ability of the Committee to function as required by TSXV Policies.

Responsible for land-based military operations, the Spanish Army (Ejército de Tierra – "Ground Army") is the terrestrial army of the Spanish Armed Forces. After much consideration and research, the Spanish Army decided that the sternal route for intraosseous infusion was the best way to administer emergency fluids and medications in battlefield situations.

“In the past, the Spanish Army has used the EZ-IO® and BIG® (Bone Injection Gun) systems for their intraosseous needs. However, they found that soldiers would have injuries to their extremities, exactly where these devices require deployment. They realized that the sternum was a better access point as it is one of the most protected parts on a soldier’s body,” commented Jesus Orbe, Director of Sales and Marketing at IES Spain.

“The FAST1® really is a product like no other on the market. Its design and ease of use takes the guesswork out of the intraosseous infusion process. From the target patch to the automated depth control, the medic just has to find the sternal notch and deploy the device. It is easy to learn and deploy, even in low light conditions”, added Mr. Orbe. “These benefits in particular are the very reasons why the FAST1® is the device of choice for the Spanish Army’s intraosseous needs.”

The first order of FAST1® for the Spanish Army will be used for a contingent of soldiers that are being deployed to Lebanon in the coming weeks. “We are honored to offer a product such as the FAST1® with its high degree of success, ease-of-use and dependability,” noted Mr. Orbe.

About International Emergency Services
International Emergency Services is a Spanish distributor of emergency medical supplies. For more information, please visit their website at www.ies-spain.com.

About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.

“St John Ambulance is thrilled to have the T-POD® on board their ambulances as they have been very pleased with the results the T-POD® has produced being used on their helicopter fleet,” commented Steve Muller, Sales Director for Midmed.

The Emergency Rescue Helicopter Service division of St John Ambulance Western Australia has used the T-POD® on their fleet for two years with very positive and well-received results. St John Ambulance Western Australia has now decided to rollout the T-POD® product across their complete service, including their fleet of over 90 ambulances in the Perth Metropolitan area and their ambulance fleet in Country Western Australia.

The T-POD® will be used by the St John Ambulance first responders, advanced responders, doctors, nurses and paramedics who offer first aid services at public events and emergencies.

“The T-POD® is a superb product that stands out from its competition. When compared to other pelvic stabilization devices that are on the market, the benefits and features of the T-POD® make it a clear winner,” added Mr. Muller. “This is especially true for St John Ambulance, as they were looking for a product that is lightweight and with a size that fits most patients, eliminating the need to stock multiple sizes of a single product.

Currently, the T-POD® is part of the standard equipment on board all aircrafts of the Royal Flying Doctor Service of Australia. The Royal Flying Doctor Service of Australia provides 24 hour emergency services and everyday essential healthcare to the people living, working and travelling in the remote and rural areas of Australia.

About St John Ambulance
St John Ambulance Australia is a self-funding charitable organization active in all States and Territories for over 125 years, dedicated to helping people in sickness, distress, suffering or danger. In addition to providing ambulance service in Western Australia and the Northern Territory through their 3500 paid and volunteer ambulance officers, St John Ambulance also provides first aid training, first aid kits, first aid services at community and public events and assistance during national disaster relief, and a range of community care services for the aged, the infirm, the immobile and the lonely.

St John Ambulance has been serving the Western Australian community for over 100 years, providing ambulance and paramedic services, first aid training, volunteer first aid services at public events, and community services for the lonely, fragile aged and disabled through their 600 career ambulance officers and 2500 volunteer ambulance officers.

About Midmed
Midmed is an Australian family owned medical equipment supplier that has been supplying medical equipment to public and private hospitals, Pre Hospital/Ambulance, Specialists, GP’s, medical centres, allied health professionals and other businesses for over 17 years. They offer an extensive range of durable and cost-effective medical equipment, medical supplies, hospital supplies and surgical supplies.

About Pyng Medical Corp.
Pyng Medical Corp. commercializes award-winning trauma and resuscitation products for front-line critical care personnel. Pyng’s expanded product portfolio includes a variety of innovative, lifesaving tools. With growing markets in North America, Europe and Asia, Pyng offers user-preferred medical devices for use by hospital staff, emergency medical services and military forces worldwide.

Their decision was made after a careful review of pelvic stabilization devices available in the market and after consulting with emergency specialists.

Both Romanian Emergency Services, the Romanian Ambulance and SMURD, the Romanian Mobile Emergency Service for Resuscitation and Extrication, will be using the T-POD® as part of the standard equipment on board their ambulance fleet of about 500 vehicles. “Our customers rely on us to make the best recommendation for which products they should use on their patients. We feel that the T-POD® will not let them down,” added Mr. Dan Gorgan, President of Deltamed.

“The T-POD® presents many advantages, the biggest being its one size fits all characteristic. We also liked the uniform/symmetrical compression features and the fact that it is already the standard of care in other European countries. When choosing a product to be placed on board our ambulances, we need one that will be easy to deploy and as effective as possible. By being able to use one product for the majority of patients and by having such positive effects on the blood transfusion requirement, hospital stay, and morbidity, the T-POD® was the only pelvic stabilization device that our customers felt comfortable with,” added Mr. Gorgan, who was echoing the feedback from the Romanian Emergency Services.

About Deltamed Ltd.
Deltamed was founded in 1997 as a privately owned company in Cluj-Napoca, Romania. They provide complete solutions for emergency situations including safety equipment, medical supplies, resuscitation equipment, protective equipment, immobilization and transport equipment, diagnostic and therapy equipment, and emergency vehicles.

”We are very excited to be launching this product for the EMS Market at a time when new tourniquet protocols are being introduced and implemented world-wide,” commented Nadine Siqueland Gaston, Vice President of Global Sales and Marketing for Pyng.

The E-MAT™ features a bright, EMS orange color, setting it apart from its surroundings and making it noticeable at an accident scene. “This new high-visibility color will make it easy to see that a tourniquet has been placed on a patient,” added Nadine. “It is also lightweight and compact, making it an easy fit into any medical bag.”

With its new color, the E-MAT™ contains all the same award-winning features of the original MAT®. By providing fast and easy application, even to trapped limbs, complete blood flow occlusion is achieved in under 30 seconds. “The E-MAT™ offers First Responders a quick and simple solution to stop severe extremity blood loss, allowing them time to asses other injuries,” added Ms. Gaston.