Dr. Augustine Cheung reports

MEDIFOCUS, INC. ANNOUNCES FINANCIAL RESULTS FOR THE FISCAL YEAR AND FISCAL FOURTH QUARTER ENDING MARCH 31, 2014

Medifocus Inc. today released its financial results for fiscal year and the fourth fiscal quarter ending March 31, 2014. Sales from its Prolieve thermodilatation system reached $5,383,973 for the fiscal year ended March 31, 2014, representing an increase of 198 per cent from the prior year. In July, 2012, Medifocus acquired the Prolieve business from Boston Scientific Corp. and recorded revenues of $1,805,969 from Prolieve for the fiscal year ended March 31, 2013. The net loss before other charges for the year was $5,222,429, a decrease of $374,043, or 7 per cent, from the previous year, primarily due to the revenue growth.

For the quarter ended March 31, 2014, the revenue was approximately $1,677,138, representing an increase of 104 per cent over the quarter ended March 31, 2013, or an increase of 31 per cent from the quarter ended Dec. 31, 2013.

The Prolieve thermodilatation system is designed to provide a relatively painless and effective alternative to drug therapy and certain types of surgical procedures used to treat the symptoms of benign prostatic hyperplasia. Dr. Augustine Cheung, president and chief executive officer of Medifocus, commented: "We are pleased with the progress we are making with the rollout of the Prolieve system. We will remain diligently focused on expanding our sales and enhancing our infrastructure so that we can further strengthen our position and meet increasing demand for the Prolieve system in the years ahead."

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