NHS Health Solutions (fka NHSH)

[nodummy]

If you list all the Notes from the 10K for Coinless Systems (former name of the NHSH shell) - this is what you have:

http://www.sec.gov/Archives/edgar/data/1074507/000101968703001011/coinless_10ka1-123102.txt

NOTE 6 - NOTES PAYABLE TO THIRD PARTIES

On May 31, 2002, the Company issued a 5% convertible debenture of
$250,000 to Cornell Partners, LLC. The debenture is convertible into shares of common stock at a price equal to either (a) an amount equal to 120% of the closing bid price of the common stock as of the closing date or (b) an amount equal to 80% of the average closing three bid prices of the common stock for the five trading days immediately preceding the conversion date. The convertible debenture accrues interest at a rate of 5% per year and is convertible at the holder's option. The convertible debenture has a term of two years. At the Company's option, the debenture may be paid in cash or redeemed at a 10% premium prior to May 2004.

NOTES PAYABLE DUE ON DEMAND-RELATED PARTIES

On November 4, 2002, the Company issued a Secured Convertible Promissory Note to David R. Houston, with an annual interest rate of One Hundred Eight per cent (108%) until such time as maker has tendered twelve (12) payments and fifty four percent (54%) during the remainder of the term of this Note and until the principal balance is paid in full. All or any portion of the outstanding balance may be converted at the option of the holder upon 30 days written notice. The per-share price at which any such conversion is effectuated shall be ten cents
($.10) per share. The principal of this Note is Two Hundred Thousand Dollars ($200,000).

Payable to a related party, interest accrued at 10%. Secured by a life insurance $3,000

Payable to a related party, interest accrued at 8.5%, due on demand. Convertible to stock $107,741

Payable to a related party, interest accrued at 8.5%, due on demand. Convertible to stock $7,250

Payable to a related party, monthly payment of $580,including interest of $310. Convertible to stock $13,010

Payable to a related party, interest accrued at 8.5%, due on demand. Convertible to stock $17,700

Payable to a related party, interest paid monthly at 15%, due on demand $17,500

Payable to a related party, interest paid monthly at 15%, due on demand $4,620

Payable to a related party, interest accrued at 6.25%, due on demand. Convertible to stock $2,255



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All total that is $623,076 due in debt Notes based on the data from the last 10K for 2002.


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What we don't know is between 2002 and December 18, 2010 if any of those Notes were paid off or converted into shares or if they all just continued to accumulate interest over that 8 year period.

By leaving all of them but the original principal amount due on the David R. Houston $200,000 Note off the balance sheet for December 31, 2010, NHSH is telling its shareholders that all of the Notes have been settled in the past including any and all interest accrued.

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=46193

For now we can just trust the filings. I guess we'll have to wait to see what other information comes available in the future.

For any of those other Notes to now show up on the balance sheet in the future or for any more shares to be issued in the future for any of those other Notes would constitute some pretty serious FRAUD.


I have been giving NHSH (Jeff DiGenova and the other insiders) the benefit of the doubt thus far because I do not like to post accusations with out proof. I like to stick to facts whenever possible.

The possibility of some very serious fraud occurring related to some other past Notes that were intentionally omitted from the December 31, 2010 balance sheet could certainly explain why NHSH opted out of doing a quarterly report for the periods ending March 31, 2011 and June 30, 2011. By hiding material information including financials from their shareholders NHSH is not doing anything to help their cause or make them look very innocent.