Medivisor, Inc.

Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

10/01/2008 0.65

MVSR daily

0.60 0.55 0.50 0.45 0.40 0.35

Phone: 631-549-7100 Fax: 631-549-7119 E-mail: info@medivisor.com Website: www.medivisor.com

0.25 Š BigCharts.com

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Company Introduction

MARKET DATA

Symbol Exchanges Current Price Price Target Rating Outstanding Shares Market Cap. Average 3-m Volume

0.30

Thousands

Medivisor, Inc. 326 Walt Whitman Road Huntington Station, NY 11746

MVSR OTC PK $0.25 $0.87 Speculative Buy 13.84 Million $3.46 Million 23,132

Medivisor Inc. (MVSR) provides a broad range of outsourced marketing and sales services to pharmaceutical and life sciences companies. The Company uses the most advanced communication channel in the industry - electronic detailing (e-detailing) - to promote pharmaceutical products to physicians and to inform medical professionals of medical advances. The Company creates a variety of educational and informational presentations and distributes it through the Internet, video conferencing and interactive voice response to the mutual benefit of both the pharmaceutical vendors and healthcare practitioners.

Source: Yahoo Finance, Analyst Estimates

MVSR is entering into exclusive arrangements with drug manufacturers to market their products in return for a share of the profits from drug sales. The Company has an agreement with New Jerseybased Cura Pharmaceutical to market Albumax, a whey protein isolate formula that allows patients with kidney disorders to achieve daily protein requirements, as well as MucotrolTM, an oral gel wafer for treating mouth sores resulting from chemotherapy. Albumax has been approved by the New York, California and Pennsylvania state Medicaid offices, while MucotrolTM has 510-K approval from the FDA. MVSR recently signed an agreement giving the Company exclusive rights to distribute Albumax in Italy. The annual worldwide markets for MucotrolTM and Albumax are estimated at $250 million and $120 million, respectively.

In addition, MVSR recently signed a revenue-sharing agreement with PanGenex Corp. for the marketing and sale of LipidemeTM, which is the first product on the market combining the triglyceridelowering power of omega-3 fatty acids with the cholesterol-lowering ability of phytosterols and tocotrienols, as well as the freeMedivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

radical fighting abilities of Coenzyme Q10. This product addresses a potential U.S. market consisting of nearly 140 million Americans with borderline-high or high cholesterol levels. The Company is also poised to launch an energy drink in the European market that contains Acai, a top superfood with extraordinary health benefits.

Investment Highlights Business model focusing on marketing pharmaceuticals MVSR delivers comprehensive marketing strategies to help pharmaceutical manufacturers communicate key scientific findings to the medical community. The Company’s services are designed to help pharmaceutical companies reach key audiences and increase sales of new and current drugs. MVSR works with pharmaceutical companies, health care organizations, medical suppliers and distributors.

In 2006, global spending on prescription drugs topped $643 billion, growing 10% annually between 1999 and 2006. North America accounted for the largest percentage of the world market (45%), and Europe second at 23% of total global sales.

Digital technology enhances marketing effort With the pharmaceuticals industry spending more than $14 billion annually on detailing, there is increased pressure on pharmaceutical companies to find new, profitable ways to reach physicians and build revenues.

MVSR employs e-detailing, which refers to the use of digital technology such as Internet, tele/video conferencing and Interactive Voice Response, to enhance or replace the pharmaceutical representatives’ traditional sales call on healthcare providers, maximize sales force productivity, reduce costs and increase physician prescribing.

Through e-detailing, MVSR provides an Internet venue where vendors can “detail” and clinicians can absorb published scientific, technical, or medical information that is relevant to the product and available on-demand.

In addition, the Company provides appropriate honorariums to show appreciation for the professional’s time spent reading or listening to the presentation.

Cura Pharmaceutical agreements MVSR has secured agreements with Cura Pharmaceutical to market Albumax, a whey protein isolate formula that helps patients with kidney disorders obtain their daily protein requirements, and MucotrolTM, an oral gel wafer that soothes mouth sores related to chemotherapy.

Albumax has been approved by the New York, California and Pennsylvania state Medicaid offices. MucotrolTM received FDA approval in November 2004. Albumax addresses a $120 million worldwide market, while the market for MucotrolTM is estimated at $250 million.

Revenue-sharing agreement with PanGenex

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

The American Heart Association estimates that nearly 140 million Americans have either borderline-high or high cholesterol levels. In 2003, approximately 22 million people took a medication to try to lower their cholesterol.

MVSR recently signed a revenue-sharing agreement with PanGenex Corp. for the marketing and sale of LipidemeTM. LipidemeTM is the first product on the market to combine the triglyceride-lowering power of omega-3 fatty acids with the cholesterol-lowering ability of phytosterols and tocotrienols, plus the free-radical fighting abilities of Coenzyme Q10. Because these four ingredients tackle different aspects of cardiovascular health, Lipideme’s synergistic blend is far superior to single-ingredient products.

Entry into the energy drink market The Company is also preparing to launch its own energy drink in the billion dollar energy drink market. The Company’s energy drink contains Acai, one of the world’s top superfoods. The extraordinary health benefits of Acai, which include superior nutrient content and unmatched antioxidant levels, have been validated by scientific studies.

Energy drinks are the fastest-growing segment of the beverage market. Since 2003, the energy drink market has grown 440% to $6.6 billion in 2007 and is expected to reach $9 billion in 2011.

Strong revenue growth outlook The revenue-sharing agreements with Cura Pharmaceuticals, PanGenex and the energy drink market initiative should fuel robust revenue growth for MVSR. We expect the Company to record 2009 revenues in a $6 million range and maintain 40%-50% annual growth over the next three to five years. MVSR anticipates reaching breakeven in the second half of 2009.

Business Model The Company’s business model focuses on delivering comprehensive marketing strategies with integrated tactics and solutions that help pharmaceutical manufacturers communicate key scientific findings to the medical community. MVSR assists pharmaceutical companies in reaching out to targeted audiences and expanding sales of new and current drugs. The Company’s services integrate direct promotional materials, medical education, marketing research, physician interaction, internal information, training resources, meeting services, campaign monitoring, strategic planning, creative development, project management and public relations. As part of its program, MVSR offers free medical Web sites to its physician members.

MVSR uses e-detailing (i.e. digital technologies such as Internet, tele/video conferencing and Interactive Voice Response) to enhance or replace traditional pharmaceutical rep sales calls, maximize sales force productivity, cut costs and increase physician prescribing. Through e-detailing, vendors can “detail” and clinicians can absorb relevant published scientific, technical, or medical information at their convenience, with availability 24 hours a day, seven days a week.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Pharma CRM strategy which integrates e-detailing

Source: www-935.ibm.com/services/us/imc/pdf/g510-3242-effective-e-detailing.pdf

MVSR operates two Web sites: www.medivisor.com and www.statdose.com • Medivisor.com communicates with medical and pharmaceutical companies and includes full-service integrated marketing solutions for all their business needs. Medivisor.com also has applications in related areas such as businesses that rely on referrals, consumption and information from physicians, regulatory training mandates and updates, continued medical education courses and business education designed by medical professionals, and medical association conferences and seminars. With a direct link from Statdose.com, Medivisor.com allows healthcare professionals to log in and view presentations by entering their assigned user ID and password. Members receive an e-mail alert every time MVSR posts a presentation that is relevant to their practice. • Statadose.com provides online marketing services and clinical tools that communicate new products, services and other medically relevant information to physicians/decision makers, including providers of continuing medical education courses, sponsors of medical conferences and seminars, and pharmaceutical companies.

Statdose.com’s resources also include Continuing Medical Education (CME) credits, medical journal articles, medical news, healthcare announcements, product reviews, major conference coverage and comprehensive drug information.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

The Company’s services are distributed through e-mail campaigns and electronic newsletters consisting of short video advertisements. Advertisements are one-to-10-minute informational presentations with interactive feedback loops to medical vendors and their physician customers. Informational presentations are developed in video, flash or high tech animated slide presentation formats incorporating state-of-the- art technology. Each is customized to address the unique needs of that particular audience. Healthcare professionals determine who the target audience should be and what their needs are. The Company may also use face-to-face detailing to increase the effectiveness of its promotions.

MVSR recently acquired Big Pants Media Inc., a New York-based design and development agency, to gain access to a larger suite of digital marketing and promotional tools (i.e. SMS capabilities to cell phones, PDAs & Smartphones). In addition, Big Pants provides the Company with WAP development and application technology that enhances online marketing capabilities.

Growth Strategy The Company partners with pharmaceutical distribution companies to help them increase sales of new and existing drugs. MVSR targets pharmaceutical companies; health care organizations, such as hospitals, VA hospitals, physician clinics, urgency care clinics and assisted living facilities; medical suppliers and distributors; professional services, such as attorneys, accountants and insurance; medical educational services; media; and shows and conferences.

The marketing strategy focuses on: • developing initial electronic contacts with healthcare professionals; • developing and establishing initial correspondence and verbal contact after the initial electronic contacts; • arranging face-to-face meetings and follow-up with healthcare professionals; and • establishing strategic contacts with primary decision-makers at healthcare facilities and major vendors.

Partnership agreements The Company partners with life sciences companies to help them reduce promotional costs and improve the productivity of their existing sales force. MVSR also provides sales and marketing expertise to promote specific pharmaceutical products on behalf of their customers through profit-sharing agreements. The Company’s clients include large and medium-sized pharmaceutical companies.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

MVSR clients and products

Source: Company Web site

One of the MVSR’s most important partners is Cura Pharmaceutical, a New Jersey-based pharmaceutical marketing company. During 2006-2007, MVSR entered into five-year sales agent agreements with Cura to market its MucotrolTM and Albumax products.

Cura Pharmaceutical supplies, distributes and sells MucotrolTM and Albumax in the United States. Per the terms of the sales agent agreements, MVSR is guaranteed an annual minimum of 20,000 units each of MucotrolTM and Albumax, beginning in June 2008. The partners share equally (50% - 50%) in the net profits generated by MVSR’s MucotrolTM and Albumax sales.

The Company also signed a revenue-sharing agreement with PanGenex Corporation to market LipidemeTM, a synergistic blend of ingredients designed to lower cholesterol four ways. MVSR is responsible for generating sales growth for LipidemeTM in the U.S. and internationally. The potential market for an effective cholesterol lowering product is enormous; the American Heart Association estimates that nearly 140 million Americans have either borderline-high or high cholesterol.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Products and Services The Company provides medical information to healthcare professionals, primarily physicians, through its Web sites using inter-active, informational, video and graphic presentations.

MVSR has developed a range of services that provides mutually beneficial interactions between sought-after physicians and the organizations that want to reach them. The Company’s services include online e-detailing, medical education and market research. Other services and programs include: • free resource and continuing medical education courses, medical journal articles, medical news, major conference coverage and comprehensive drug information for the medical practice and small business needs; • complimentary Web sites, which are included in the Statdose.com member directory; • blogging, which is an excellent communication tool for the medical community for medical news, health care updated, managed care, new drug information and continuing medical education courses, as well as information and ideas from colleague to colleague; and • online meeting rooms, which provide graphical interface live meetings for both Web and CD Rom presentations.

Some the Company’s marketed products are: Mucotrol Oral Gel Wafer, which slowly dissolves in the mouth to form a soothing and protective layer over mouth lesions, including oral mucositis/stomatitis caused by chemotherapy or radiotherapy. Mucotrol™ could be used by more than 1 million people when combining all the categories for its effective use. In addition to usage for chemo and radiation, Mucotrol™ is also effective in the treatment of irritation due to oral surgery, traumatic ulcers caused by braces, illfitting dentures or disease.

Albumax supplies high-quality protein along with two essential amino acids in a powder form that may be mixed with or sprinkled on other foods. This avoids raising the fluid intake of the patient or adding something to the patient’s diet that may be inappropriate for that patient.

Renewal Method includes Digestive Cleanse, Liver Cleanse, Mellow-Tone™, Xentropin, ™ AminoPlex™, and Myoguard. The Renew Method supports the bodies’ own natural functions to help cleanse the body with proper nutrients and maintain a healthy nutritional balance. In combination with a healthy diet and exercise, this method can help restore health and recapture youth.

MedivoxRx makes it easier to administer prescription medications to elderly and blind individuals. The Talking Prescription Bottle helps reduce medication errors while helping patients maintain their independence.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Research reveals 110 million Americans drink coffee daily. JavaFit is formulated to help people lose fat and increase their metabolism.

LIPIDEME™ is the first product on the market to combine the triglyceride-lowering power of omega-3 fatty acids with the cholesterol-lowering ability of phytosterols and tocotrienols, as well as the free-radical fighting capacity of Coenzyme Q10. Because these four ingredients tackle different aspects of cardiovascular health, Lipideme’s synergistic blend is far superior to single-ingredient products.

Industry Outlook Overall U.S. health expenditures (including investments) exceeded $2.2 trillion in 2007. Going forward, U.S. health expenditures are projected to reach $4.3 trillion in 2017, growing at an average annual rate of 6.7%.

Through 2017, growth in health spending is expected to outpace that of GDP by an annual average rate of 1.9% points. As a percentage of GDP, healthcare spending is projected to increase from 16.0% in 2006 to 19.5% in 2017.

National Health Expenditures, $ Billions

Source: Centers for Medicare and Medicaid Services: National Health Care Expenditures Projections: 2007-2017

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Fundamentally, the healthcare industry outlook looks strong with a number of factors fueling at least a decade of growth: 1. Increased concern of the population regarding health. Population expenditures for medical care are approaching 16.3% of all personal consumption expenditures (approximately $7,500 per year, compared to $5500 per year in 2002).

2. The aging of the population globally. In 25 years, the number of Americans aged 65 and older will double to more than 70 million seniors. The numbers of people aged 85 and above will increase four-fold. People aged 100 or more – currently there are 70,000 – will increase 10 times through 2050.

3. As a result of population aging, the incidence of diseases is increasing. Medical care expenditures will increase dramatically when the leading edge of the Baby Boom moves into Medicare in two to three years.

Global pharmaceuticals industry Unlike other manufacturing industries, the financial health of the pharmaceutical industry has been relatively immune to economic shifts. However, developments in science and technology over the last decade tightened regulatory compliance, contributed to changes in product markets, and in industry dynamics, have led to a situation where even the large pharmaceutical companies are showing signs of strain. There is a greater pressure on companies to develop and launch new products today.

In 2006, global spending on prescription drugs topped $643 billion, growing10% annually between 1999 and 2006.

North America accounted for the largest percentage of the world market (45%), with Europe at 23% of total global sales. Emerging markets such as China, Russia, South Korea and Mexico outpaced overall growth, growing 81%1 . The global pharmaceutical market is forecast to grow to $842 billion in 2010.

The pharmaceutical industry is the most profitable of all businesses in the United States. In the annual Fortune 500 survey, the pharmaceutical industry topped the list of the most profitable industries, with a return of 17% on revenue. The U.S. is the single largest pharmaceutical market with an estimated market of $ 286.5 billion in 2008.

Per capita expenditure on drugs was $1,069 in 2006, nearly double the level found in the rest of the world. In the U.S., pharmaceutical sales are forecast to grow 6% through 2012. Dynamics that will shape the market over the next five years include the continued loss of exclusivity in major therapy areas, new specialist-driven products, greater levels of therapeutic substitution, along with greater awareness and focus on safety issues2.

1 2

http://en.wikipedia.org/wiki/Pharmaceutical_companies#cite_note-forbes-10-14 www.marketwatch.com/news/story/us-prescription-drug-sales-growth/story.aspx?guid=%7B37AD0634-681C-4E1A-AC1F-E364D027B3C9%7D

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

U.S. pharmaceutical sales, $ Billions

Source: www.iht.com/articles/ap/2007/11/01/business/NA-FIN-US-Drug-Industry-Forecast.php

A 2008 study by two York University researchers estimates the U.S. pharmaceutical industry spends almost twice as much on promotion as it does on research and development. The U.S. pharmaceutical industry spent 24.4% of every sales dollar on promotion, versus 13.4% for research and development, as a percentage of US domestic sales. The number of meetings for promotional purposes has dramatically increased in the U.S. pharmaceutical industry, jumping from 120,000 in 1998 to 371,000 in 2004.

According to a Datamonitor report, drugs valued at $140 billion will lose patent protection by 20163. According to IMS Health data, in the United States, drugs with approximately $20 billion in annual sales will face patent expiration in 20084. Moreover, pharmaceutical companies may see a dramatic fall in revenues as new competitors take market share. Drugs worth $65 billion-$70 billion are expected to go off-patent in the next four to five years, according to a KPMG study. In both cases – patent expiration or issuance of new patent – there is an increased need for solutions that can increase sales force productivity. The use of IT tools and techniques that integrates diverse data sources and provides advanced decision support analytics is essential to formulate winning product promotion strategies.

3 4

www.forbes.com/business/feeds/afx/2007/05/02/afx3675931.html www.rediff.com/money/2008/aug/02drug.htm

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Data integration and analytics for pharmaceutical sales and marketing

Source: www.biosoft.vndv.com/articles/tutorial/SETLabs_Life_Sciences_Challenge.pdf

e-detailing Traditionally, pharmaceutical sales and marketing strategies have been dominated by the direct correlation between sales force size and market share. Growth in sales force size has been the main driving force of sales and marketing activity for pharmaceutical companies. However, the focus has recently shifted from increasing field sales force size to increasing quality of physician interaction primarily for two reasons: decreasing cost effectiveness of existing sales force and diminishing returns from incremental sales people.

Sales and marketing costs represent the single greatest expenditure for today’s pharmaceutical companies, and this significantly diminishes their return on investment. More and more companies are trying to promote their products to a customer base that has less time to deal with them. Even when company representatives do get face time with customers, research has shown the average session is three minutes, and attention spans are even shorter5. Some estimates suggest 40% of details simply “fail at the reception desk�6. Moreover, 39% of physicians say not every sales representative meeting brings value-added information. Physicians believe the product information these reps bring is biased and rely more on medical magazines and journals for product information.

5 6

www.allaboutmedicalsales.com/articles/edetailing_2_cw_pharmiweb_180902.html www.allaboutmedicalsales.com/articles/edetailing_cw_pharmiweb_050702.html

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

As the cost of detailing a doctor face-to-face becomes more expensive, the Internet is emerging as an attractive alternative. Electronic detailing (e-detailing) was first introduced in the United States and is now available across Europe with major pharmaceutical companies offering e-detailing technology. E-detailing is a supplementary marketing channel that provides new sales opportunities and enables healthcare professionals to receive the information they want when they want it.

Currently, 99% of doctors use the Internet to improve their patient care. According to Hawkinson, 70% of physicians consult the Internet several times daily for their practice needs, and high-speed access is now commonplace7. This number continues to increase because of the 24-hour accessibility of the Internet. Doctors regularly use computers, PDAs and cell phones, and consult podcasts and blogs for additional information.

E-detailing offers an opportunity to reduce sales and marketing costs by enhancing efficiency and effectiveness.

A six-month, 1,130 doctor study with i-PhysicianNet showed a 25% reduction in detailing costs . In addition, the study also indicated that the average length of each detail doubled, as did the number of details per sales person per day. This indicates how companies can profitably use IT to improve their sales force effectiveness.

A typical e-detailing program reaches 2,500 physicians, and life-sciences companies are aiming to reach 10,000 to 25,000 physicians. To achieve this target, these companies must use next-generation e-detailing technologies that are interactive and can be customized. According to market-research company Best Practices LLC, most companies expect e-based sales training to be a primary tool in the next couple of years because of the drive to control spending, maximize training efforts and minimize the time that representatives are not in the field. The life-sciences e-detailing market is expected to grow at a fast pace, with revenues rising from $44.5 million in 2004 to $103.4 million in 200 .

E-detailing offers an opportunity to reduce sales and marketing costs by enhancing efficiency and effectiveness.

A six-month, 1,130 doctor study with i-PhysicianNet showed a 25% reduction in detailing costs8. In addition, the study also indicated that the average length of each detail doubled, as did the number of details per sales person per day. This indicates how companies can profitably use IT to improve their sales force effectiveness.

A typical e-detailing program reaches 2,500 physicians, and life-sciences companies are aiming to reach 10,000 to 25,000 physicians. To achieve this target, these companies must use next-generation e-detailing technologies that are interactive and can be customized. According to market-research company Best Practices LLC, most companies expect e-based sales training to be a primary tool in the next couple of years because of the drive to control spending, maximize training efforts and minimize the time that representatives are not in the field. The life-sciences e-detailing market is expected to grow at a fast pace, with revenues rising from $44.5 million in 2004 to $103.4 million in 200 .

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www.allaboutmedicalsales.com/articles/edetailing_cw_pharmiweb_050702.html www.allaboutmedicalsales.com/articles/edetailing_cw_pharmiweb_050702.html

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Financial Analysis Revenue and profitability The Company has not generated significant revenues to date. During the first half of 2008, the Company’s revenue declined 65% to $98,050, mainly due to the fact that it was focused on preparing several new contracts to market drug and lifestyle products.

The Company has announced revenue-sharing agreements with PanGenex for Lipideme™, sales and marketing agreement with Cura Pharmaceutical for Mucotrol in the United States, and exclusive distribution right for Albumax in Italy. In addition, the Company is in final negotiations with its first nationwide distributor for sales of an energy drink, Maximum Energy Shot. These activities are likely to support rising second half 2008 and 2009 revenues.

Income statement, $ 2006

2007

% Chg

H1 2007

H1 2008

% Chg

Revenues Cost of Sales Gross Profit

225,569 225,569

809,776 267,775 542,001

259% n/m 140%

281,275 281,275

98,050 4,875 93,175

-65% n/m -67%

General and Administrative Legal and Accounting Consulting Depreciation and Amortization Total Operating Expenses

253,897 40,000 72,076 3,650 369,623

363,658 12,485 210,054 2,824 589,021

43% -69% 191% -23% 59%

156,666 2,835 14,000 173,501

217,784 16,650 14,380 706 249,520

39% 487% 3% n/m 44%

Operating Loss Other Expenses

(144,054) 1,982

(47,020) 2,778

n/m 40%

107,774 394

(156,345) 450,000

n/m 114113%

Net Income/(Loss) Diluted EPS

(146,036) (0.02)

(49,798) (0.01)

n/m n/m

107,380 0.01

(606,345) (0.05)

n/m n/m

Source: Company’s filings

During the first half of 2008, the Company reported operating expenses of $249,520, consisting primarily of general and administrative expenses. During the first half of 2008, MVSR incurred compensatory element of stock in the amount of $450,000.

Liquidity Since its inception, the Company has incurred losses and negative cash flows from operations. MVSR has been dependent on external financing, including private sales of securities and borrowings from its CEO to fund operations. As of June 30, 2008, the Company had an accumulated deficit of $2,022,276 and a working capital deficit of $298,192. This raises doubt about the Company’s ability to continue as a going concern.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Balance Sheet, $

Cash and equivalents Total Current Assets Property and Equipment, net Security Deposit Goodwill Total Assets Total Current Liabilities, including Debt Total Stockholders’ Equity, including Accumulated deficit

31-Dec-07

30-Jun-08

2,306 90,752

342 84,868

30,975 2,444 85,000 209,171

27,633 2,454 85,000 199,955

715,931 22,095 (506,760) (1,415,931)

383,060 77,678 (183,105)

Source: Company’s filings

The Company plans to raise external financing to meet short and long-term operating requirements. According to management, MVSR needs approximately $0.5 million to fund the Energy Shot product launch and a potential rollup strategy.

Outlook and Valuation MVSR is a medical communications company with several exclusive deals with drug manufacturers to market their products.

The Company has agreements with Cura Pharmaceutical to market Albumax, a whey protein isolate formula that helps patients with kidney disorders achieve their daily protein requirements, and Mucotrol, an oral gel wafer for treating mouth sores related to chemotherapy. Albumax has been approved by the New York, California and Pennsylvania state Medicaid offices, while Mucotrol received clearance from the FDA in late 2004. MVSR has signed an agreement giving the Company the exclusive right to distribute Albumax in Italy. These products address markets of $250 million and $120 million, respectively.

MVSR has also signed a revenue-sharing agreement for the marketing and sale of LipidemeTM with PanGenex Corporation. The terms of the Agreement call for MVSR and PanGenex to pool collective resources for marketing LipidemeTM, a synergistic blend of ingredients designed to lower cholesterol four ways. The American Heart Association estimates that nearly 140 million Americans have either borderline-high or high cholesterol level.

The Company is also preparing the launch a novel energy drink. According to Market Research Group, the energy drink category has grown 440% since 2002 to $6.6 billion in 2007 and is expected to reach $9 billion in 2011.

As a result of these developments, we expect the Company to generate 2009 revenues in a $6 million range and to support 40%-50% annual growth over the medium term.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Revenue forecast, $ million

Source: Management guidance, analyst estimates

MVSR expects to breakeven in the second half of 2009.

Valuation For valuation purposes we compared MVSR with other companies that provide outsourced pharmaceutical sales and marketing services. Analyst forecast strong growth for this sector as the demand for drugs remains solid.

The peer group companies currently trade at forward Price/Sales multiples of around 0.73 times sales. We believe MVSR should trade at better multiples given the recently signed agreements, low revenue base and solid growth outlook.

Peer comparison Ticker Symbol PDI Inc. inVentiv Health, Inc. Publicis Groupe SA Omnicom Group Inc.

PDII VTIV PUBP.PA OMC

Price per Share, $7.69 $17.91 â‚Ź 21.66 $40.23

Mrkt. Cap. Mn $110 $595 â‚Ź 4,045 $12,830

Median

P/E 2007 2008

2007

P/S

2008

n/m 11.63 9.71 12.04

n/m 10.06 9.38 11.24

0.87 0.54 0.87 0.92

0.61 0.50 0.86 0.88

11.63

10.06

0.87

0.73

Source: Yahoo Finance! Reuters.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Multiplying our 2009 revenue estimate of $6 million by a 2.0 Price/Sales multiple, we derive a $12 million market capitalization target for MVSR. Dividing this amount by 13.84 million fully diluted shares outstanding, we derive a $0.87 price target. As a result, we are initiating coverage of MVSR with a Speculative Buy rating and a $0.87 price target. However, we strongly advise investors to consider the risk factors mentioned below since the Company faces many challenges in achieving its revenue growth goals.

Risks No revenues and history of losses Since its inception, the Company has incurred losses and negative cash flows from operations. MVSR has been dependent upon external financing, including private sales of securities and borrowings from its CEO to fund operations. As of June 30, 2008, the Company had an accumulated deficit of $2,022,276 and working capital deficit of $298,192. This raises doubt about the Company’s ability to continue as a going concern.

Intense competition The Company competes with companies that manage their sales internally and with a small number of players in outsourced pharmaceutical sales such as PDI Inc., inVentiv Health Inc., Innovex Inc. and Publicis Groupe SA. In addition, there are relatively few barriers to entry in outsourced pharmaceutical sales, and as the industry continues to evolve, new competitors are likely to emerge. Increased competition or a decrease in demand for outsourced sales services may lead to pricing pressures and competitive practices that could have a material adverse effect on MVSR. Need for additional funding The Company will require external funding to implement its marketing strategy. MVSR’s management expects to spend at least $0.5 million to fund the Energy Shot product launch and a potential rollup strategy. There can be no assurance that the Company will be able to find the needed financing on terms acceptable to the Company, if at all.

Liquidity risk related to MVSR stock The Company’s shares trade on the Pink Sheets market, which is less efficient than the national exchanges and is characterized by higher volatility, limited transparency and poor liquidity. These factors may adversely affect the price of MVSR common shares, regardless of the Company’s operating performance.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

Management Team Dino Luzzi President and Chief Executive Officer

Mr. Luzzi has been the Company’s president and CEO since January 2002, as well as interim CFO. During 1999, Mr. Luzzi’s venture capital firm raised capital for Keytrade Online, an online brokerage firm, which was acquired by a Latin American financial portal Patagon.com International for $35 million in cash, debt and equity. Mr. Luzzi also currently provides consulting services to companies that have venture capital needs. Mr. Luzzi has been working on MVSR’s strategic business plan for the past several years.

Wayne H. Wertheim MD, Executive Vice President and Director

Dr. Wertheim has been MVSR’s executive vice president and a director since January 2002. Dr. Wertheim has served as a practicing internist since 1981, and was managing partner of Roslyn Medical Associates from 1981-1996 when he rejoined Winthrop University Hospital as a staff member to become the lead site physician in the Long Island Primary Care Network. As medical director of International Business Builders, Dr. Wertheim has been instrumental in the development of wellness centers and alternative medicine programs with healthcare providers and insurers for the New York tri-state area and is a medical advisor to a nutritional company operating globally.

Prudence L. Ferrone Vice President and Director

Ms. Ferrone has been the Company’s vice president and a member of the board of directors since January 2002. Ms. Ferrone began her entrepreneurial career in the beauty and fashion industry as a professional image consultant and then owner of a jewelry design company. In 1994, Ms. Ferrone founded International Business Builders, a global distribution company for premier personal, health and wellness products with a sales force of several hundred representatives in 20 countries.

Darren Cioffi Chief Financial Officer

Mr. Cioffi has been MVSR’s CFO since February 2008. Mr. Cioffi established Cioffi Business Management Services in 2001 to provide consulting to public companies on SEC accounting/filing, Sarbane’s Oxley and standard compliance measures. He held several positions in the consulting and technology industry including COO of ThinkersGroup.com. Mr. Cioffi was vice president of consulting services with Total Business Solutions, where he specialized in the implementation and sales of customer relationship management (CRM) and back office accounting solutions through one-on-one and group collaboration with Total Business Solutions clients. From 1995 - 1998, Mr. Cioffi served as controller and vice president of sales for Comptech Resources. While at Comptech, he helped the company earn the distinction as the first Platinum reseller of GoldMine software on Long Island. He also developed Long Island’s first GoldMine authorized training center. Mr. Cioffi consulted and implemented solutions for a variety of businesses, including Great Plains, RealWorld and Solomon Accounting Software systems. In October 1998, following Paratech Resources Inc.’s acquisition of Comptech, Mr. Cioffi was named general manager of consulting services.

He also spent two years in public accounting for the firm of Pannell. Kerr Forster and served as assistant controller for the Seafield Center from 1991- 1995. Mr. Cioffi earned a Bachelor of Science in accounting from Long Island University.

Dr. Grossman has been the Company’s medical director since January 2002. Dr Grossman is currently David Grossman a clinical cardiologist in private practice. He trained at The Johns Hopkins University, the University of MD, FACC, FACP, Medical Pennsylvania School of Medicine, and North Shore University Hospital-New York University School of Director Medicine. Dr. Grossman is the former director of the Coronary Care Unit and Heart Failure Program at North Shore University Hospital. He has numerous publications and is a national speaker on heart failure, acute coronary syndromes, and hyperlipidemia.

Medivisor, Inc. (OTC PK: MVSR)

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Analyst: Lisa Springer, CFA Initial Report October 2nd, 2008

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We are committed to providing factual information on the companies that are profiled. However, we do not provide any assurance as to the accuracy or completeness of the information provided, including information regarding a profiled company’s plans or ability to effect any planned or proposed actions. We have no first-hand knowledge of any profiled company’s operations and therefore cannot comment on their capabilities, intent, resources, nor experience and we make no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company and related sources which we believe to be reliable.

To the fullest extent of the law, we will not be liable to any person or entity for the quality, accuracy, completeness, reliability, or timeliness of the information provided in the report, or for any direct, indirect, consequential, incidental, special or punitive damages that may arise out of the use of information we provide to any person or entity (including, but not limited to, lost profits, loss of opportunities, trading losses, and damages that may result from any inaccuracy or incompleteness of this information).

We encourage you to invest carefully and read investment information available at the websites of the SEC at http://www.sec.gov and FINRA at http://www.finra.org.

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I, Lisa Springer, CFA, the author of this report, certify that the material and views presented herein represent my personal opinion regarding the content and securities included in this report. In no way has my opinion been influenced by outside parties, nor has my compensation been either directly or indirectly tied to the performance of any security listed. I certify that I do not currently own, nor will own and shares or securities in any of the companies featured in this report.

Lisa Springer, MBA, CFA - Senior Analyst Lisa serves Beacon Research Partners as a research analyst. She brings to the company over 15 years experience in equity research and investment marketing. Prior to joining Beacon, Lisa worked as an equity analyst for an independent research provider. She has also held positions as investor relations officer for a NYSE-listed company and director of financial analysis for a large consulting firm. Lisa earned an MBA from the University of Chicago and is a Chartered Financial Analyst (CFA).

Medivisor, Inc. (OTC PK: MVSR)

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