PaperFree Medical (Kokomo, Indiana) reported that it has implemented a cost-control plan to reduce costs to become break-even on a cash-flow basis. These measures have been taken by new management to ensure that the company delivers to investors a profitable company in the least amount of time. The cost-cutting measures should have a solid impact on the second quarter results. We are very encouraged and are thankful to our employees for the dedication and hard work to accept these changes.

PaperFree Medical offers electronic medical records, practice management software systems and broadband wireless connectivity to the physician office, clinic and hospital. This patient information software solution will initially focus on the medical community's needs to meet the new HIPAA regulations.

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