Quad M Solutions Inc. records its first profitable quarter

Company reported $17.6 million of health benefits revenue and earnings of $3.3 million or $.03/share

Edgewater, NJ, May 24, 2022 (GLOBE NEWSWIRE) -- Quad M Solutions inc,(OTC:MMMM) a staffing company providing modern health care solution benefits has recorded its first significant operating income! Revenues were $17.6 million for the quarter with operating income of $1.34 million and net income of $3.3 million or $.03/ shr. Revenue grew by 96%, gross profit grew by 620% and pretax income increased from a $149,000 loss in the first quarter of 2021 to an operating profit of $1,355,000 in this year's first quarter for a $1.5 million operating profit swing. Net income was $3.3 million or $.03/ shr. The Company's CEO Mr Joseph Frontiere commented “When I joined the company 9 months ago we had around 900 employees, losing significant amounts of money, and I found out they had executed poorly in many aspects of the business plan. Much to my surprise, this became evident over the first 6 months as we dug into the company’s fundamentals. We found the technology lacking, which led to bad accounts receivable management and I had to revamp management and bring in great tech through Gex Data Labs to solve billing and payables and I facilitated a significant capital contribution through high net worth individuals. Where we are today is a profitable company that is almost there on its ability to reduce its costs and a company using one of the best insurtech and staffing technologies in the industry. We are able now to seamlessly interface with Prism HR, the most adopted system by Professional employer organizations (PEO’s) to manage their employees with our MyNuaxess platform. As we write this we anticipate our operating margins increasing with 6000 employees utilizing our staffing benefits and reducing our prescription costs by around 15% by launching our own PBM called NuaxessRx. In addition we will significantly lower our underwriting costs with our previously announced relationship with Quantum Computing Inc. and our proprietary algorithms utilizing our extensive past claims data. I feel extremely proud that we accomplished this in such a short time frame and look forward to demonstrating significant growth with better margins in the months ahead. This is truly just the beginning for Quad M Solutions.”