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Blue Horseshoe loves CYPE. "If you're not first, you're last" Ricky Bobby. RB loves CYPE.
IGNE Reinstated 3/5/18.. up 25% today.. low float.. institutional funding on this..
ADLI - AMERICAN MEDICAL TECH
GORDIAN MEDICAL, INC. dba
AMERICAN MEDICAL TECHNOLGIES
Gordian Medical, Inc. dba American Medical Technologies (AMT)
Chapter 11 Fact Sheet
Date Filed:
February 24, 2012
Where:
U.S. Bankruptcy Court for the Central District of California in Santa Ana
Entity Filed:
Gordian Medical, Inc. dba American Medical Technologies
Bankruptcy Case No.:
8:12-bk-12339
Judge:
Mark Wallace
Debtors’ Headquarters:
Gordian Medical, Inc. dba American Medical Technologies
17595 Cartwright Road
Irvine, CA 92614
Tel: 800-232-9266
Company Officers:
Gerald Del Signore
President and Chief Executive Officer
Debtors’ Counsel:
Pachulski Stang Ziehl & Jones LLP
10100 Santa Monica Blvd, 13th Fl
Los Angeles, CA 90067
Tel: (310) 277-6910
Samuel R. Maizel, Esq.
Tel: (310) 772-2306
Email: smaizel@psjzlaw.com
Mary D. Lane, Esq.
Tel: (310) 772-2392
Email: mlane@pszjlaw.com
Scotta McFarland, Esq.
Tel: (310) 772-2307
Email: smcfarland@pszjlaw.com
Financial Advisor:
GlassRatner Advisory & Capital Group, LLC
19800 MacArthur Blvd., Suite 820
Irvine, CA 92612
Tel: (949) 862-1595
J. Michael Issa
Tel: (949) 862-1595
Email: missa@glassratner.com
Kerry Krisher
Tel: (949) 429-429-4252
Email: kkrisher@glassratner.com
Media Contacts:
The Abernathy McGregor Group, Inc.
707 Wilshire Blvd., Suite 3950
Los Angeles, CA 90017
Tel: 213-630-6550
Fax: 213-489-3443
Rivian Bell
Cell: 310-463-9229
Pager (24/7): 888-477-4319
Email: rlb@abmac.com
Sydney Isaacs
Tel: 832-459-8720
Email: sri@abmac.com
Gordian Medical, Inc. Voluntarily Files Under Chapter 11 to Stabilize Finances
While Medicare Dispute Is Resolved
Company to Continue Wound Care Services Without Interruption
IRVINE, Calif. – Feb. 24, 2012 – Gordian Medical, Inc. dba American Medical Technologies (AMT), today filed its voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in the Central District of California in Santa Ana. A leading wound care specialist operating in 49 states, AMT filed its petition as the most effective means of stabilizing its finances as it resolves a recent guidelines dispute with Medicare, which the company believes is improperly withholding its payments.
According to Gerald Del Signore, president and CEO, “AMT has performed well for years and maintained healthy operating momentum and consistent sales growth despite a sluggish economy. Our business is strong, and we are proud of our record of care. Each month we provide the supplies and educational services necessary to treat more than 14,000 patients with serious wounds throughout the United States. These patients, most of whom are elderly, non-ambulatory, and confined to hospice or long term care facilities, are among the most frail and medically complex participants in the Medicare system. These patients have paid for Medicare coverage, and like anyone covered by health insurance, they’re entitled to receive the benefits for which they’ve paid.
“Nevertheless, Medicare has withheld payment for these patients’ benefits in a manner that is at odds with the agency’s own guidance and inconsistent with the way it has paid claims for years. We dispute Medicare’s right to handle payment issues in this manner, and if Medicare persists, we are going to ask the Court for relief. There is significant case law and regulatory authority to support our position, and we look forward to reaching a positive conclusion.
“Today’s Chapter 11 filing will allow us to continue operating without interruption while we resolve these issues as expeditiously as possible. The automatic stay that went into effect with the filing of the petition will allow our existing funds to support our operations during this time. We pledge to continue providing the same high level of service that has distinguished our organization to date.”
AMT provides dressings to patients with various wound types, including those with gastrostomy tube sites whose wounds have developed complications. For years, AMT has provided such dressings in reliance on Medicare guidelines which state that “Dressings over a percutaneous catheter or tube … are covered as long as the catheter or tube remains in place and after removal until the wound heals.” Notwithstanding this unambiguous language, Medicare now refuses to pay AMT’s claims for dressings supplied to treat complications at G tube sites. Moreover, although dressings to compromised G tube sites constitute less than 40 percent of AMT’s business, Medicare has suspended 100 percent of AMT’s payments.
AMT’s dispute with Medicare is based on conflicting interpretations of the agency’s own guidelines. AMT has not been accused of fraud, it is not in legal trouble, and it is not on any list of “excluded entities.”
The company is submitting its motions to the Court to maintain business in the ordinary course, including employee compensation and benefits, which is commonplace in such cases. The company’s vendors will be paid in the ordinary course going forward, and management is optimistic it will be able to satisfy pre-petition claims fully when the case is completed.
AMT is being advised by Pachulski Stang Ziehl & Jones LLP as legal counsel and GlassRatner Advisory & Capital Group LLC as financial advisor.
For additional information about the filing, please visit www.gordianmedical.com.
About Gordian Medical, Inc. dba American Medical Technologies
Headquartered in Irvine, Calif., Gordian Medical, Inc. doing business as American Medical Technologies, is a leading independent provider of wound care management solutions. A privately held corporation, AMT offers wound care supplies and education primarily to long-term care nursing facilities and hospices and helps treat serious wounds in more than 14,000 patients per month. The company is licensed, bonded, and accredited in all subject areas and is compliant with current Centers for Medicare & Medicaid Services (“CMS”) standards. AMT employs approximately 394 people of whom 224 are nurses and physical therapists who qualify as “Certified Wound Specialists” or the equivalent.
CTCC---filed Friday 15-12G
The Reverse Merger Report
http://reversemerger.dealflow.com/
Board Marked. You're already Marked.
I hope 2012 yields a lot more great gaining R/M stocks.
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i see dressing up some. good link to get information from.
List of Form 15-12G filings:
http://www.2shared.com/file/Ia28iT2r/Form_15-12G.html
i see ya here, forum should do well.
In a reverse takeover, shareholders of the private company purchase control of the public shell company and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. The transaction can be accomplished within weeks. If the shell is an SEC-registered company, the private company does not go through an expensive and time-consuming review with state and federal regulators because this process was completed beforehand with the public company. However, a comprehensive disclosure document containing audited financial statements and significant legal disclosures is required by the Securities Exchange Commission for reporting issuers. The disclosure is filed on Form 8-K and is filed immediately upon completion of the reverse merger transaction.
The transaction involves the private and shell company exchanging information on each other, negotiating the merger terms, and signing a share exchange agreement. At the closing, the shell company issues a substantial majority of its shares and board control to the shareholders of the private company. The private company's shareholders pay for the shell company by contributing their shares in the private company to the shell company that they now control. This share exchange and change of control completes the reverse takeover, transforming the formerly privately held company into a publicly held company.
Generally, reverse mergers succeed for companies that don't need the capital right away. Normally, a successful publicly traded company will have at least sales of $20 million and $2 million in cash.15-12G "When a firm "goes dark" it deregisters with the Securities and Exchange Commission (SEC) and delists its shares.
PRE 14C All preliminary information statements, excluding, mergers, contested solicitations and special meetings.
DEF 14C All types of definitive statements, excluding: mergers or acquisitions, contested solicitations and special meetings.
Reg D Companies selling securities in reliance on a Regulation D exemption or a Section 4(6) exemption from the registration provisions of the '33 Act must file a Form D as notice of such a sale. The form must be filed no later than 15 days after the first sale. The exact form type is usually REGDEX, but may be a REG D-1 or similar.
SB-2 This form may be used by "small business issuers" to register securities to be sold for cash.
S-8 This form is used for the registration of securities to be offered to an issuer's employees pursuant to certain plans.
S-1 This is the basic registration form. It can be used to register securities for which no other form is authorized or prescribed, except securities of foreign governments or political sub-divisions thereof.
1-E / 2-E Business development companies (BDC) can avail themselves of a more esoteric provision of the Securities Act - Regulation E, which provides an exemption from registration for securities issued by BDCs. In short, under Regulation E, a BDC may issue up to $5 million worth of securities a year without registration. Also under Regulation E, an individual may offer to sell up to $100,000 of securities in a BDC each year.
424B1, 2, 3, and 4 filings are final registration statements to register stock under previously filed SB-2 S-1 and S-2 filings, and they serve other purposes.
EFFECT filings are notice's of effectiveness of POS AM's and some S filings ie: S-1, SB-2. The EFFECT filing comes prior to the 424B3 filing we see when the shares enter the market
Rainmaker's stages of readiness
Things to look for when a stock gains attention
Belmont Partners transactions
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