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Last Post: 6/15/2016 10:28:17 AM - Followers: 9 - Board type: Free - Posts Today: 0
HemaCare Corporation HEMA

What do they do?:
HemaCare Corporation provides the customized delivery of blood products and services. HemaCare collects, processes and distributes blood products to hospitals and research related organizations. The Company operates and manages donor centers and mobile donor vehicles to collect transfusable blood products from donors, and also collects human-derived blood products which are utilized by health research related organizations. Additionally, HemaCare provides blood related services, principally therapeutic apheresis procedures, stem cell collection and other blood treatments, to patients with a variety of disorders. Blood related therapeutic services are usually provided under contract as an outside purchased service.

HemaCare has operated in Southern California since 1978. In 1998, HemaCare expanded its operations to include portions of the eastern U.S. In 2003, new management reduced the number of geographic regions served as part of a restructuring plan to return HemaCare to profitability. Since 2003, HemaCare's earnings have improved as a result of the successful implementation of management's plan. In August 2006, HemaCare acquired Florida-based Teragenix Corporation, subsequently renamed HemaCare BioScience, Inc., which sources, processes and distributes human biological specimens, manufactures quality control products and provides clinical trial management and support services.

Leadership & Management

Board of Directors
Julian Steffenhagen
Chairman of the Board / Interim CEO
Over a period of 27 years, Mr. Steffenhagen held several management positions at Beckman Coulter, Inc., Master of Business Administration degree from the University of Michigan.

Teresa S. Sligh, MD
President and Medical Director
Translational Research Group, Inc.

Terry Van Der Tuuk
Vice Chairman
Graphic Technology
Masters of Business Administration degree from The Wharton School, University of Pennsylvania.

Steven Gerber, MD
Managing Director/Director of Research
Wedbush Morgan Securities

Robert S. Chilton
Executive Vice President and CFO
Mr. Chilton previously was with KPMG Peat Marwick. Mr. Chilton received his Masters in Business Administration and Bachelor of Arts degrees from the University of California, Los Angeles and is a Certified Public Accountant.

Medical Directors
Joshua Levy, MD
National Medical Director

David Ciavarella, MD
Instructor at Harvard Medical School.

Jacquelyn Hedlund, MD
Melanie Osby, MD

Share Structure:
Authorized Shares 20M
Outstanding as of May 2007: 8.8Million
Float: 7.3 Million
t/a: U.S. Stock Transfer Corp.,
Suite 200
1745 Gardena Ave.
Glendale, CA 91204-2991


SEC FILINGS</a</a</a</a</a</a</a</a</a'

Daily Chart:

What Happened to the pps??
Essentially it needs to bounce alot.
The story as of 11/08/07

On October 17th HEMA filed a 8-k form with the SEC stating that the company was defaulting on notes related to the acquisition of Teragenix/HemaBio. HemaBio was apparently loosing money and HemaCare was setting up the closing of HemaBio. At that time pps fell to .80, then the fun began. Praetorian Capital Offshore hedgefund which owned 1.2M shares decided to exit their position dumping their shares into the market and bringing the pps down to .26. Just as the charts were lining up for a rebound the company submitted another 8-k filing. This time they announced that HemaBio was closed and pps dropped on 11/8 to a low of .13 and closed at .19.

The notes in default are secured by assets of HemaBio - so what closing it anyways.

HemaCare is cleaning up thier business and eliminating the failing division which they paid too much for. By default, the debt for the notes will be removed as the note holders put claim on the HemaBio assets. Wait it gets better, those notes are subordinate to the Bank to which HemaCare has a credit line established with. Thus, HemaCare is woring with Comercia bank to close HemaBio's failing division.

Outcome: As stated in the 8-k filings HemaCare has nonrecurring restructuring charges which will be recognized in Q3 and Q4 07. Clearing the way to higher profitability in 2008.

Do the math, company market cap is only 1.67M as of close 11/8. It was as high as 29M earlier this year and 11.5M early October. The compay is restructuring for higher profitability and is set to continue operations.

WHAT NOW? Well the fundamentals of the company haven't changed this week, they had 36.4M in Revenue 2006 and were on track as of last qtr to beat that number. Book value is 1.13pps.

Praetorian Capital
Offshore Hedge fund. Held 1.2M shares purchased in 2006 with an average pps over 2.00.
May 2007 sold 5,000
10/18 sold 130k
10/19 sold 130k
10/22 sold 77,100
10/23 sold 140k
As of 10/23 still held 792,900 shares
10/30 sold 5k for .342
10/31 sold 240k for .3084 share remaning 547,900

Since our last Form 13G filing dated October 19, 2007, through
the date of this filing, the Funds made the following
November 1, 2007 sold 117,500 shares
November 2, 2007 sold 80,000 shares
November 5, 2007 sold 35,000 shares
November 6, 2007 sold 10,000 shares
November 7, 2007 sold 47,500 shares
November 8, 2007 sold 257,900 shares

Since we no longer own more than 5% of the shares of the issuer,
no further Form 13G filings will be made unless we are one again
required to do so.

Financial HighlightsAll numbers in thousands
PERIOD ENDING 31-Dec-06 31-Dec-05 31-Dec-04
Total Revenue 36,484 31,227 26,836
Cost of Revenue 29,755 24,651 21,020
Gross Profit 6,729 6,576 5,816

PERIOD ENDING 30-Jun-07 31-Mar-07 31-Dec-06 30-Sep-06
Total Revenue 9,646 9,356 10,687 9,177
Cost of Revenue 8,321 8,229 8,827 7,446
Gross Profit 1,325 1,127 1,860 1,731

Balance Sheet
Total Cash (mrq): 908.00K
Total Cash Per Share (mrq): 0.103
Total Debt (mrq): 3.20M
Total Debt/Equity (mrq): 0.322
Current Ratio (mrq): 1.238
Book Value Per Share (mrq): 1.13

Link to Yahoo Finance HEMA for Financials etc:

Earnings Announecement Nov 14,07

California Deptaertment of Corpotations filings:
Number: C0873552 Date Filed: 9/18/1978 Status: active
Jurisdiction: California

Number: C2932596 Date Filed: 10/11/2006 Status: active
Jurisdiction: FLORIDA

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Current Price
Bid Ask Day's Range
#490   new blog post on HEMA NoNameStocks 06/15/16 10:28:16 AM
#489   $HEMA recent news/filings stocktrademan 03/23/16 12:51:06 PM
#488   Thanks. Glad you enjoyed my write up. NoNameStocks 10/06/15 11:48:04 PM
#487   Dan, I read the No Name report. Very tsoprano-1 10/06/15 01:49:20 PM
#486   I have no association with them NoNameStocks 10/06/15 11:43:03 AM
#485   Dan, you associated with SA Advisory? They just tsoprano-1 10/05/15 09:07:25 PM
#484   Just realized I did not directly answer your NoNameStocks 09/25/15 01:28:24 AM
#483   Ok I read both documents over and I NoNameStocks 09/25/15 12:54:27 AM
#482   Unfortunately I'm on a business trip so don't NoNameStocks 09/21/15 11:53:12 AM
#481   Dan, enjoyed your write-up on HEMA. How did Knowledge is King 09/21/15 10:18:03 AM
#480   Write up on HEMA NoNameStocks 08/11/15 11:31:53 AM
#479   Hi Ezey, jackfree 03/01/13 05:52:45 PM
#478   is anyone following this co. ezey 02/05/13 02:22:21 PM
#477   Form 10-Q Released jackfree 05/14/12 01:07:03 PM
#476 Form 10-K for HEMACARE CO jackfree 04/05/12 08:04:16 PM
#475 Form 10-Q Released[ jackfree 11/16/10 04:35:38 PM
#474   Starting to look better here humblehawk 09/13/10 06:56:50 AM
#473   HemaCare Board Re-Elected and Gerber Named Chairman di4 05/29/09 07:16:21 AM
#472   HemaCare Reports Sixth Consecutive Profitable Quarter di4 05/07/09 09:14:21 AM
#471   FORM 10-Q released. Numbers would look good jackfree 11/28/08 06:59:20 PM
#470   HemaCare Reports Profitable Second Quarter jackfree 08/13/08 03:16:53 PM
#469   anybody have thoughts on the quarterly? love your neighbor 05/15/08 07:09:40 PM
#468   looking good still love your neighbor 03/11/08 01:05:50 AM
#467   14:23:12 20000 0.29 OTCBB MWM 03/06/08 03:43:12 PM
#466   MJCO mm added 125K so far at .024 MWM 03/05/08 11:15:07 AM
#465   Congrats to the HEMA holders, charts turning up morcash 03/04/08 05:32:51 PM
#464   HemaCare Reports Profitable Fourth Quarter Results From Continuing Operations MWM 03/04/08 05:28:54 PM
#463   I did some of it, it's outdated now. morcash 03/04/08 05:28:06 PM
#462   20 year Chart MWM 03/04/08 03:56:59 PM
#461   Posted by: fusi0n MWM 03/04/08 03:53:22 PM
#460   agree-today a good day for hema love your neighbor 03/04/08 03:26:15 PM
#459   Great stuff, the light volume over the last MWM 03/04/08 03:14:00 PM
#458   yep - morecash is the man love your neighbor 03/04/08 03:09:58 PM
#457   morcash is that your handy work in the MWM 03/04/08 03:06:42 PM
#456   Is it the asst mod's DD then? it MWM 03/04/08 03:05:58 PM
#455   nope love your neighbor 03/04/08 03:04:27 PM
#454   Nice board G, did you do the DD MWM 03/04/08 02:57:49 PM
#453   From the Ibox (why the PPS Declined) MWM 03/04/08 02:56:58 PM
#452   I grabbed some here at .24 MWM 03/04/08 02:50:21 PM
#451   Reports Profitable 4th QT Results From Continuing Operations jackfree 03/04/08 10:58:15 AM
#450   Mr Wolf is now up to 800,000 shares OptionMonster 02/09/08 08:56:55 AM
#449   And we print .45 slowshoes 01/02/08 11:52:21 AM
#448   Looks like it's digging itself out of the hole? slowshoes 01/02/08 11:13:45 AM
#447   moving up love your neighbor 12/28/07 12:05:53 PM
#446   Someone forward looking perhaps... OptionMonster 12/21/07 04:24:33 PM
#445   Who did all the buying between 10 and morcash 12/21/07 02:57:24 PM
#444   That is what I was unsure of..The debt OptionMonster 12/17/07 08:49:13 AM
#443   GLTY IMO it should see .40-.50 again but morcash 12/17/07 08:34:36 AM
#442   Nothing new. We knew were letting Hemcarebio morcash 12/17/07 08:33:16 AM
#441   So what do you think that means for OptionMonster 12/17/07 06:27:11 AM