updated 6/21/2011 7:17:33 AM ET 2011-06-21T11:17:33

CORAL SPRINGS, Fla., June 21, 2011 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) - http://www.uniondental.com/ir - a Company that operates and manages a network of dentists throughout the United States for union members announced the financial results for the quarter ending March 31, 2011. In the Consolidated Statement of earnings the Company reported income from operations of $12,975 on revenues of $1,110,356 as compared to a loss of $156,854 on revenues of $611,160 during the same period in 2010.

Dr George Green, President and CEO stated: "We are extremely pleased with our revenue growth over the prior year. Some of our expenses were higher in this quarter due to onetime charges in reference to audit and legal fees. All of these expenses are warranted as we continue to work with J&C Global Securities, LLC to explore our options going forward."

Jervis Hough, CEO of J&C Global Securities, LLC stated: "We are pleased to be working closely with Union Dental Holdings, Inc. to help create shareholder value and to better position the company for future expansion. We will continue to evaluate the company and help prepare them for reaching their goal of being listed on a more recognized exchange."

About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.

Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants – Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. Union Dental manages a dental practice in Coral Springs, Florida. 

The Union Dental Holdings Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8310

WEBSITEwww.uniondental.com/ir

"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.

 
UNION DENTAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
UNAUDITED
     
     
  March 31, December 31, 
  2011 2010
ASSETS  Unaudited   Audited 
     
CURRENT ASSETS:    
Cash  $ 79,369  $ 27,573
Accounts receivable, net  1,051,711  1,182,586
Inventory of supplies  39,354  39,354
     
Total current assets  1,170,434  1,249,513
     
Property and equipment, net  387,302  411,302
     
Total Assets  $ 1,557,736  $ 1,660,815
     
LIABILITIES AND SHAREHOLDERS' EQUITY     
     
CURRENT LIABILITIES:    
     
Notes payable  $ 511,777  $ 564,834
Loan payable - related party  215,335  215,916
Line of credit  50,650  50,650
Accounts payable   69,424  62,462
Accrued expenses  150,473  150,033
Unearned membership fees  102,494  161,795
     
Total current liabilities  1,100,153  1,205,690
     
Commitments and contingencies  --  -- 
     
SHAREHOLDERS' EQUITY:    
Preferred stock ($.0001 Par value; 25,000,000 shares authorized;     
8,000,000 shares issued and outstanding)  800  800
Common stock ($.0001 Par value; 300,000,000 share authorized;     
203,658,932 shares issued and outstanding at March 31, 2011     
and December 31, 2010, respectively)  20,366  20,366
Common stock issuable (1,000,000 shares)    
Additional paid-in capital  5,830,023  5,830,023
Accumulated deficit  (3,903,895)  (3,906,353)
Shareholder transactions  (1,489,711)  (1,489,711)
Less: Deferred compensation  --  -- 
     
Total shareholders' equity   457,583  455,125
     
Total liabilities and shareholders' equity   $ 1,557,736  $ 1,660,815
 
 
UNION DENTAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
     
     
  For the Three Months Ended
  March 31,
  2011 2010
   Unaudited   Audited 
     
Revenues, net  $ 1,110,356  $ 611,160
     
Total Revenues  1,110,356  611,160
     
Operating expenses:    
Cost of services performed  253,847  184,984
Salaries and related taxes and stock-based compensation  414,765  356,813
Depreciation and amortization  25,000  35,968
Professional fees  3,440  10,133
Consulting fees  80,000  --
Other general and administrative  320,329  180,116
     
Total operating expenses  1,097,381  768,014
     
Income from operations  12,975  (156,854)
     
Other income (expense):    
Gain (loss) from valuation of derivatives liability  --  (165,512)
Interest income  --  --
Interest expense  (10,517)  (9,696)
     
Total other income (expense)  (10,517)  (175,208)
     
Income before provision for income taxes  2,458  (332,063)
     
Income tax expense  --  --
     
Net Income   $ 2,458  $ (332,063)
     
Net Income (loss) per common share:    
Net Income (loss) per common share - basic  $ 0.00  $ (0.00)
Net Income (loss) per common share - diluted  $ 0.00  $ (0.00)
     
Weighted average common shares outstanding - basic  203,658,932  188,172,510
Weighted average common shares outstanding - diluted  203,658,932  188,172,510
CONTACT: Jervis B. Hough
         CEO of J&C Global Securities, LLC
         jhough@jcglobalsecurities.com

         Dr. George D. Green, President
         info@uniondentalcorp.com

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