Medical Technologies, Inc. / Infinite Auctions (OTC Pink:MDCE) Provides Shareholder Update

MESA, AZ / ACCESSWIRE / November 15, 2022 / Medical Care Technologies, Inc. (OTC PINK:MDCE) (the "Company") is excited to provide an update as we have entered Q4 which will be the first reporting quarter for Medical Care Technologies with Infinite Auctions LLC as an asset. Marshall Perkins, CEO of the Company, stated: "From the very beginning, our focus has been on generating long-term shareholder value by operating with predictable revenues and a calculated growth plan that can weather significant fluctuations in the economy. As such, it has been a paramount concern of ours to create a solid foundation from which to build. Most of our efforts this past year have been spent doing the really hard work behind the scenes to lay this foundation."

The Company would like to highlight several major accomplishments from 2022, including a few stretching back to the second half of 2021:

• The Company brought its state filings and transfer agent into compliance.
• The Company cleaned up existing legal issues and updated public information with OTC Markets.
• The Company cancelled nearly one million dollars in liabilities that were beyond the statute of limitations.
• The Company successfully reinstated its DTC eligibility.
• The Company worked through the Nevada courts to cancel two billion shares of common stock that were improperly issued.
• The Company worked through the Nevada courts to cancel all preferred shares issued by prior ownership and revoke their class designations since they were not properly designated with the state.
• The Company had an outside independent accounting firm complete a full review and complete reconstruction of Infinite Auctions' financial statements and accounting systems for calendar years 2020, 2021, and 2022 year-to-date through September 30.
• The Company completed its acquisition of Infinite Auctions LLC in October 2022.
• The Company announced a joint venture agreement with tech company, Digital Distro, Inc., to launch a state-of-the-art sports memorabilia NFT platform in 2023.
• The Company launched its first in class "Ship When Sold" escrow consignment store for high value sports collectibles.

The Company would like to highlight few details about its recently acquired operating company, Infinite Auctions:

• Infinite Auctions had annual revenues of $2,024,798 for 2020, and $2,903,654 for 2021.
• Infinite Auctions Q3 2022 revenues through September 30 were $950,924. Year to date revenues for the first nine months of 2022 were $3,069,732.
• As of September 30, 2022, Infinite Auctions inventory and assets were $2,429,003.
• As of September 30, 2022, Infinite Auctions total liabilities were $45,591.
• Infinite Auctions set four world records for the highest valued private sales of game-worn memorabilia for individual athletes in 2022.
• Infinite Auctions entered strategic partnerships with two large auction houses to generate over $1,200,000 of additional revenue in 2022.
• Infinite Auctions is introducing over $1,500,000 in inventory in its consignment store for the 2022 holiday season.
• Infinite Auctions has formed want list agreements with a number of high-net-worth clients looking to significant expand their memorabilia collections.

The Company is in the process of changing legal firms and the new attorneys are reviewing all prior actions. Once the review is complete, the Company will be submitting any additional necessary filings and will work with the OTC Markets to remove its shell designation.

In 2023, MDCE plans on securing low interest financing to expand our consignment advance options to acquire more items for auction and introduce a new monthly auction schedule. The Company has entered beta phase in the development of its one-of-a-kind collectible platform that it expects to be released in 2023. The Company is also evaluating several additional partnership and acquisition options.

About Medical Care Technologies, Inc.

Medical Care Technologies, Inc. seeks to capitalize on the fast-growing memorabilia and collectibles market by consolidating companies in the collectibles space and acquiring high value collectible assets. The company is negotiating multiple joint ventures and developing new platforms to create additional revenue streams from our memorabilia asset portfolio.

About Infinite Auctions LLC.

Infinite Auctions provides an online platform for memorabilia collectors and professional athletes to consign and sell high valued collectibles in a secure online auction format. Infinite Auctions specializes in the auctioning of game-worn sports memorabilia, including jerseys, helmets, bats, and other items worn or used by athletes in professional sporting events. The company also auctions high-end sports cards, trading cards, fine autographs, Americana, and other valuable antiquities. Infinite Auctions also offers a private sale brokering program that connects sellers and buyers outside of auction for quicker sales.

Contact Information:

https://twitter.com/SportsAuction1

https://www.infiniteauctions.com

https://www.instagram.com/infiniteauctions/

https://www.medcaretechinc.com

Shareholder/Investor inquiries for Medical Care Technologies, Inc.:

Medical Care Technologies, Inc. / Infinite Auctions LLC
1-480-645-0750
contact@medcaretechinc.com

Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.

SOURCE: Medical Care Technologies, Inc.