NEW YORK, Aug. 27, 2013 (GLOBE NEWSWIRE) -- Ira Shapiro, CEO of CodeSmart Holdings, Inc. (OTCQB:ITEN) (the "Company" or "CodeSmart"), has acquired 25,000 shares of common stock of CodeSmart from the public market in a transaction on August 27, 2013. The stock was purchased at the market value of $3.21 per share, which has a total value of $80,250. Following this transaction, Mr. Shapiro directly owns 2,875,000 shares in the Company. The acquisition was disclosed in the Company's current report on Form 8-K filed with the SEC that can be accessed on the website at www.sec.gov.
"I continue to believe that CodeSmart and our CODESMARTTM UNIVERSITY product is the premier ICD-10 education and training modality," said Mr. Shapiro. "This stock purchase is symbolic of my confidence in the Company and its mission to both prepare coders for the ICD-10 change in October 2014 and the creation of many jobs that will result from the need for more coders to meet the increased demand on our healthcare system."
CodeSmart Holdings, Inc. (OTCQB:ITEN) with its subsidiary, The CODESMART™ Group, Inc., is a premier national subject matter expert for ICD-10 education and compliance in the United States. Its product, CODESMART™ UNIVERSITY, is an on-line program of study for existing coders, new coders, clinicians, and healthcare roles of all types. Created by a combination of a leading panel of ICD-10 subject matter experts and a major four-year accredited university, which contributed the nation's top course designers and a platform that already provides interactive education to more than 60,000 students per year in degree programs. The ICD-10 training also includes live professors who work with and guide students through the programs of study in ICD-10.
CODESMART™ UNIVERSITY is endorsed by over 60 colleges and universities nationwide for its quality of education. The CODESMART™ Group, Inc. also provides solutions for ICD-10 transition, outsource coding, coding audits, critical documentation improvement and the revenue cycle continuum.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain written and oral statements made by the Company may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that either expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause actual results to differ materially from anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. The Company undertakes no obligation to update these forward-looking statements after the date of this release.
CONTACT: Company Contact: Ira Shapiro Chairman and CEO The Codesmart Group, Inc. firstname.lastname@example.org 646-526-7867 Investor Contact: John Baldissera BPC Financial Marketing 800-368-1217 Media Contact: Jules Abraham JQA Partners, LLC email@example.com 917-885-7378Source:The Codesmart Group, Inc.