Securities and Exchange Commission
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): November 18, 2002
Commission File Number: 0-30018
MERIDIAN HOLDINGS, INC.
(Exact name of registrants specified in its charter)
COLORADO 52-2133742
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
900 Wilshire Avenue, Suite 500
Los Angeles, California 90017
(213) 627-8878 Fax: (213) 627-9183
(Address, Including Zip Code, And Telephone Number, Including Area Code,
Of Registrant's Principal Executive Offices)
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ITEM 1. Changes in Control of Registrant Not Applicable
ITEM 2. Acquisition or Disposition of Assets Not Applicable
ITEM 3. Bankruptcy or Receivership Not Applicable
ITEM 4. Changes in Registrant's Certifying Accountant Not Applicable
ITEM 5. Other Materially Important Events Not Applicable
ITEM 6. Resignation of Registrant's Directors Not applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.
(None)
(b) EXHIBITS.
ITEM 8: Change in Fiscal year Not Applicable
ITEM 9: Regulation FD Disclosure
On November 18, 2002, the registrant issued a press release
announcing the filing of 10qsb for the period ended
September 30, 2002.
EXHIBIT ITEM. DESCRIPTION
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Exhibit 99.1 - Copy of the Press Release of November 18, 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Meridian Holdings, Inc.
(Registrant)
Date: November 18, 2002 By:/s/ Anthony C. Dike
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Anthony C. Dike
(Chairman, Chief Executive Officer)
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE: Monday, November 18, 2002
CONTACT: Anthony C. Dike, Chairman/CEO Madeleine Franco
Meridian Holdings, Inc. Jordan Richard Assoc.
213-627-8878 801-463-0305
www.meho.com ir@jordanrichard.com
MERIDIAN HOLDINGS FILES THIRD QUARTER 10-Q
LEARN MORE ABOUT THE INTERCARE CLINICAL EXPLORER SOFTWARE SOLUTION FOR
HEALTHCARE ENTERPRISE MANAGEMENT AT WWW.INTERCARE.COM.
LOS ANGELES, CALIF.-Anthony C. Dike, Chairman and CEO of Meridian Holdings, Inc.
(OTC Bulletin Board: MEHO), announced today the timely filing of the company's
quarterly report to the Securities and Exchange Commission for the period ended
September 30, 2002, on Form 10-QSB. Full text of the report may be viewed on
the SEC's EDGAR database at www.sec.gov.
The company reported net income of $34,156 on revenue from operations of
$765,776 during three-month period ended September 30, 2002 and net income of
$48,254 on revenue from operations of $1.9 million for the first nine months of
the year. Adjusted for extraordinary items, net income for the most recent
three-month period was $26,156.
Medical services (capitation) revenue increased by 51.5% from $324,485 for the
three months ended September 30, 2001 to $492,033 for the three months ended
September 30, 2002; and by 32.5% from $999,129 for the nine months ended
September 30, 2001 to $1,323,347 for the nine months ended September 30, 2002.
The increase in revenue is attributable to increased membership enrollment in
the Capnet IPA physician network. No revenue was generated from software sales
during the most recent nine-month periods compared to revenue of $149,600 for
the comparable period of last year.
During the nine months ended September 30, 2002, the Company recorded non-cash
fixed assets of $350,000, representing the purchase price of ICE (InterCare
Clinical Explorer ) software source-code from InterCare.com-Dx, Inc., an
affiliated company. The source-code as well as the prototype application having
been developed serves as the basis for further development of a technological
solution intended to replace the now abandoned Medmaster software.
"While the issues forcing the company's abandonment of the Medmaster software
were a significant near-term setback, the Company's ICE technology is proving
far superior in terms of scalability, flexibility and adaptability to a variety
of medical environments," said Anthony C. Dike, Chairman and CEO of Meridian
Holdings. "We are very enthusiastic about its many practical applications and
its long-term revenue-generating potential," he said.
ICE is a scalable healthcare software solution integrating every aspect of the
healthcare enterprise. Through documentation, information tracking, error
reduction, it is designed to support patient safety and greater efficiency among
healthcare providers. The program features intuitive order entry, "tapering"
orders, a clinical knowledge base, digital video enhanced patient education
module, real-time electro-physiological data capture and display, voice command,
voice recognition, digital dictation module and numerous other capabilities,
including unlimited free-text notes, to complement and document the diagnostic
and treatment processes.
ABOUT MERIDIAN HOLDINGS AND INTERCARE.COM-DX
Meridian Holdings, Inc. is an acquisition-oriented business enterprise focused
on building, operating and managing a portfolio of business-to-business
companies. Meridian seeks to acquire majority or controlling interests in
companies engaged in e-commerce, e-communication, and e-business services, which
will allow the holding company to actively participate in management, operations
and finances. Meridian's network of affiliated companies is designed to
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encourage maximum leverage of information technology, operational excellence,
industry expertise and synergistic business opportunity. Meridian is committed
to building shareholder value by positioning affiliated companies as independent
business entities in which Meridian shareholders enjoy equity participation. The
company's InterCare.com-Dx subsidiary is a U.S. FDA-registered, biomedical
software development and publishing company. for additional information, visit
Meridian's web site at www.meho.com, and InterCare's web site at
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www.intercare.com, where the ICE software is described in greater detail
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NOTE: Statements in this news release that are not purely historical are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and any amendments thereto. Material that is forward-looking
may contain statements about expected future events and/or financial results
that are forward-looking in nature. Editors and investors are cautioned that
such forward-looking statements invoke risk and uncertainties that may cause the
company=s results to differ from such forward-looking statements. These
include, but are not limited to, economic, competitive, governmental,
technological and other factors discussed in the statements and/or in the
company=s filings with the Securities and Exchange Commission.
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