Assured Pharmacy Inc. announced plans to open two additional new stores in Denver and Boston this summer as part of a major expansion strategy. Like all Assured Pharmacy stores, the new stores will operate on a compliance-based model to ensure strict control over the safe dispensing and delivery of controlled medications, as well as monitoring patients for all medications they receive. It also ensures compliance with the federal and state regulations and minimizes potential abuses. Following the model of Assured's highly successful store opening in Kansas last year, the Denver and Boston stores will open with the support of physician groups. With a total cost under $300,000, the Kansas store was EBITDA positive in its sixth full month of operations and has a current annualized revenue run rate of $4 million. Last month, it became the first of Assured's stores to service 1,500 patients in a month, in only its 16th full month of operation, largely due to an expansion in target indications beyond chronic pain to include all chronic controlled medications.

Assured Pharmacy Inc. announced the approval of the Board of Directors of the company, dismissed UHY LLP as the company’s independent registered public accounting firm, effective February 11, 2013. Effective February 11, 2013, the company’s Board of Directors approved the engagement of BDO USA, L.P. as the company’s new independent registered public accounting firm to audit the company’s consolidated financial statements for the year ending December 31, 2012.

Assured Pharmacy Inc. reported audited earnings results for the year ended December 31, 2011. The company announced net sales of $16,444,573 for the year ended December 31, 2011, an increase of $167,821 or 1.0%, from $16,276,752 for the year ended December 31, 2010. Basic and diluted net loss per share was $1.14 for the year 2011, a 54.0% improvement compared to $2.48 net loss per share in the same period in 2010. The increase in sales for the year 2011 compared to the year 2010 was primarily due to an increase in the number of patients serviced as a result of continued direct sales efforts and to a much lesser extent the opening of 5th pharmacy in the Kansas City metropolitan area in November 2011. The increase in revenue from increased patients was partially offset by a decrease in revenue per prescription due to increased generic utilization by patients and to a lesser extent a decrease in management service fee revenue of $160,005.