TransCoastal Corp. (TCEC)

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CLAI .015 news & 10Q~
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Claimsnet.com Reports First Quarter 2012 Results



Date :

05/08/2012 @ 1:41PM



Source :

PR Newswire



Stock :

Claimsnet.com (QB) (CLAI)



Quote :

0.015 0.0 (0.00%) @ 9:32AM







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Claimsnet.com Reports First Quarter 2012 Results









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Claimsnet.com (QB) (USOTC:CLAI)
Intraday Stock Chart

Today : Tuesday 8 May 2012

Claimsnet.com inc. (OTCBB: CLAI.PK), a leading provider of Internet-based business-to-business solutions for the healthcare industry, today reported its results for the first quarter of fiscal 2012, which ended March 31, 2012.

For the quarter ended March 31, 2012, the Company reported revenues of $637,000, an 11% increase from the $573,000 reported for the first quarter of 2011.

Expenses overall, comprised of cost of revenues and selling, general and administrative expenses increased 12% compared with the first quarter of 2011. Cost of revenues for the first quarter of 2012 was $500,000 compared to $434,000 in the first quarter of 2011, an increase of 15%. Selling, general and administrative expenses of $185,000 were reported for the first quarter of 2012, representing a 5% increase from the $176,000 reported in the first quarter of 2011.

The Company reported a gross profit of $137,000 for the first quarter of 2012, compared with a $139,000 gross profit in the first quarter of 2011.

The loss from operations for the first quarter of 2012 was $48,000, compared to a loss of $37,000 reported in the first quarter of 2011. The net loss for the first quarter of 2012 was $54,000, or $0.00 per share, compared to $42,000, or $0.00 per share, in the first quarter of 2011.

"We were pleased with the 11% increase in our sales compared to last year. Our customer relationships remain strong, and the services we provide them are beneficial to their cost of operations. While expenses increased compared to last year, some of this was associated with the conversion of our systems to the new 5010 standard as mandated by Centers for Medicare and Medicaid Services. This applied to all entities associated with healthcare transactions, including clearinghouses, claims submitters and payer customers. At the same time, we continue to look for strategic alternatives to increase both growth and product offering," commented Don Crosbie, Chief Executive Officer of Claimsnet.

Claimsnet.com inc. is a leading provider of Internet-based claim processing solutions for the healthcare payer industry, including distinctive, advanced ASP technology. Headquartered in Dallas, Texas, Claimsnet offers systems that are distinguished by ease of use, customer care, security and measurable cost advantages. More information on Claimsnet can be found at the Company's web site at http://www.claimsnet.com.

Forward-Looking Statements - With the exception of historical information, the matters discussed in this press release are forward looking statements that involve a number of risks and uncertainties. The actual future results of the Company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to, maintaining access to external sources of capital, regulatory actions, success of marketing strategies, actions of the Company's competitors, dependence on suppliers and distribution channels, continued use of the Internet, achieving the anticipated benefits of capital expenditures, and achieving anticipated expense reductions. Further information on the Company's risk factors is contained in the Company's quarterly, annual, and other periodic reports as filed with the Securities and Exchange Commission.



[Table to Follow]






CLAIMSNET.COM INC. AND SUBSIDIARIESSUMMARY OPERATIONS STATEMENT INFORMATION(In thousands except per share data)(unaudited)




Quarter Ended

March 31,

--------------------------








2012


2011





---------


---------









REVENUES


$ 637


$ 573









COST OF REVENUES


$ 500


$ 434









GROSS PROFIT


$ 137


$ 139









SELLING, GENERAL AND ADMINISTRATIVE


$ 185


$ 176









LOSS FROM OPERATIONS


$ (48)


$ (37)









INTEREST EXPENSE


$ (6)


$ (5)









NET LOSS


$ (54)


$ (42)









NET LOSS PER COMMON SHARE –

BASIC



$ (0.00)




$ (0.00)










WEIGHTED AVERAGE COMMON






SHARES OUTSTANDING –






BASIC AND DILUTED


34,875



34,875


SOURCE Claimsnet.com inc.

[Penny Roger$]

Claimsnet.com Reports Second Quarter 2011 Results
| 12:11 PM | By PR Newswire Association LLC. |

DALLAS, Aug. 9, 2011 /PRNewswire/ -- Claimsnet.com inc. (OTCBB: CLAI), a leading provider of Internet-based claims processing solutions for the healthcare industry, today reported its results for the second quarter of 2011, which ended June 30, 2011. For the quarter ended June 30, 2011,...
Related News: Similar Content, By PR Newswire Association LLC., Earnings http://www.prnewswire.com/news-releases/claimsnetcom-reports-second-quarter-2011-results-127315378.html#rssowlmlink

CLAI Security Details
Share StructureMarket Value1 $906,742 a/o Aug 08, 2011
Shares Outstanding 34,874,696 a/o Jul 29, 2010
Float Not Available
Authorized Shares Unlimited a/o
Par Value 0.001
http://www.claimsnet.com/

[ALiVE]

Claimsnet.com Receives EHNAC Healthcare Network FULL Re-Accreditation

Claimsnet.Com (OTCBB:CLAI)

Today : Thursday 13 January 2011


Claimsnet.com (OTC Bulletin Board: CLAI), a leading provider of electronic transaction solutions to the healthcare industry, announces today it has achieved full accreditation with the Healthcare Network Accreditation Program (HNAP) from the Electronic Healthcare Network Accreditation Commission (EHNAC). EHNAC's HNAP accreditation recognizes excellence in health data processing and transactions, and indicates compliance with industry-established standards and HIPAA regulations.

Through the consultative review process, EHNAC evaluated Claimsnet.com in areas of privacy measures, systems availability and security infrastructure. In addition, EHNAC reviewed the organization's process of managing and transferring protected health information ("PHI") and determined that the organization meets or exceeds all EHNAC criteria and industry standards.

"Claimsnet is extremely pleased to once again receive this industry recognition," said Don Crosbie, Claimsnet's President and Chief Executive Officer. "Through completion of the rigorous accreditation process, the organization demonstrates to its constituents' adherence to strict standards and participation in the comprehensive, objective evaluation of its business. EHNAC Accreditation validates the efforts of the Claimsnet staff in delivering excellence in support of our healthcare customers and business partners."

"With recent changes in legislation and compliance requirements, this is a crucial time for healthcare networks to ensure that they're adhering to the latest standards in privacy, security and confidentiality," noted Lee Barrett, executive director of EHNAC. "In order to earn EHNAC HNAP accreditation, healthcare networks are required to demonstrate excellence and a commitment to ensuring the security and privacy of health data processing and transactions for their customers. Claimsnet joins this select group of HNAP-accredited organizations."

About Claimsnet.com

Claimsnet.com inc. is a leading provider of Internet-based claim processing solutions for the healthcare payer industry, including distinctive, advanced ASP technology. Headquartered in Dallas, Texas, Claimsnet offers systems that are distinguished by ease of use, customer care, security and measurable cost advantages. More information on Claimsnet can be found at the company's web site at http://www.claimsnet.com.

About EHNAC

The Electronic Healthcare Network Accreditation Commission (EHNAC) is a voluntary, self-governing standards development organization (SDO) established to develop standard criteria and accredit organizations that electronically exchange healthcare data. These entities include electronic health networks, payers, financial services firms, health information exchanges and e-prescribing solution providers.

EHNAC was founded in 1993 and is a tax-exempt 501(c)(6) nonprofit organization. Guided by peer evaluation, the EHNAC accreditation process promotes quality service, innovation, cooperation and open competition in healthcare. To learn more, visit www.ehnac.org or contact [e-mail].

Safe Harbor Statement Under the Private Securities Litigation Act 1995 - With the exception of historical information, the matters discussed in this press release are forward looking statements that involve a number of risks and uncertainties. The actual future results of the company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to, maintaining access to external sources of capital, regulatory actions, success of marketing strategies, actions of the company's competitors, dependence on suppliers and distribution channels, and continued use of the internet. Further information on the company's risk factors is contained in the company's quarterly, annual, and other periodic reports as filed with the Securities and Exchange Commission.

SOURCE Claimsnet.com inc.

[Makesomemoney]

Do you see this as a good thing?? I have not seen any financial on this company, are they having a cash flow problem? Too heavy on debt and need to restructure it? Or are they simply looking to sell the business????

[HDOGTX]

CLAI 8k

Item 8.01 Other Events.

On September 9, 2010, the Company signed a Client Engagement Letter (the "Letter") with Blackhawk Partners, Inc. ("Blackhawk"). The services to be rendered by Blackhawk in accordance with the Letter include seeking debt or equity financing for the Company potentially in connection with a merger or acquisition transaction. Upon execution, the Company tendered Blackhawk a non-refundable fee of $50,000. The Company has also agreed to pay Blackhawk an advisory fee equal to 6.0% of the total equity gross amount funded to the Company outside of Blackhawk proprietary funds and 3.0% of the total debt gross amount similarly funded ("Advisory Fee"). Additionally, on the 1st day of every month beginning six months from the Effective Date and continuing for a period of six months, the Company shall pay Blackhawk a monthly non-refundable advisory fee of $12,000. The Letter is terminable by either party with 30 days written notice, although the Advisory Fee shall apply for 18 months after termination.

The foregoing description of the Letter does not purport to be complete and is qualified in its entirety by reference to the Letter which is attached as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.


http://www.blackhawkpartners.com/