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i had been out of the country for some months at times. asked for and got the following input. looks like the pinks are off for what ever reason (money would be the key reason).
"They are cleaning up the shell eliminating debt and preparing shell for market. The tax loss carry forward has more value than clinics that break even that no one really wants to own."
based on this information, we are cooked as an on going company and looks like the shell will have any value. my concern here is a shell not listed has very little value. therefore, the only value will be in the 6 million or so carryover tax loss.
based on my experience in this matter, take into consideration the acquiring companies tax rate and times about 60 to 70% and that is what we will get at most.
simple math, 6,000,000 estimated loss, presuming a 35% tax rate times 60% is about 1,260,000 and with about 200 million shares out there that would be about .0063 per share.
the reason for the lower numbers is because we are not a listed company thus only the tax loss has value not the shell. if we were listed, the shell could have value from 300 to 600,000 not much more.
hope this information helps.
of course, this is my option and anybody here can and should do their own investigation.
old man
for what it is worth, the board will meet again within the next 2 to 3 weeks. i do not know what will happen but it is scheduled.
do not ask for more information, that is all i will give.
old man
i own 6 million shares
most of the time it does not work out, but went it does - its petty good.
there are discussions about trying to get shares back on the board and so on. there is nothing that is not on the table.
by mid march we should have a very good handle on what is going to happen in my opinion.
will advise if i get updated information.
old man
its been over one year since any message here, has anybody heard anything that is good news for us shareholders?
just added some more shares last week.
old man
as of a couple days ago, the board has yet to meet on what action they will take. one would be to sell off the shell (we have a operating loss of over 6 million which would have some value to another company for tax saving but at what price) and run what is left over (do not know impact to shareholders) the other is to merge (most likely will not happen - need someone in or about same field and they would not need use) or just keep going as is.
selling the shell would be okay with me so long as most of the income from the sell goes directly to shareholders. otherwise, i will vote my shares against it - if possible.
what will happen, i do not know.
will advise if i hear anything that would be of importance.
old man
Not much at this time. waiting for some answers on couple questions i had. nothing yet.
between doc and i - we own about 30% of the shares. his about 54 million and my 6 million.
to say the doc is not involved is not true. he is not involved with the daily operation but as a major shareholder he is heard and his vote will be needed.
will see what happens. they have over 6 million carryover loss that can be applied into any potential partnership or what ever. that alone along with still active operations could be attactive for someone - question will be whom and under what conditions.
old man
he sent the same message to just about everybody. this will be a very important board meeting. they will (hopefully) decide which way the company will go, work on debt issues and financial matters.
depending on how matters are addressed, we could be in very good position going into the future - time will tell and its going to be sooner than later this time around for us to get information.
i know a "little" more information but i am limited in what i can say.
old man
for faster contact try the below information:
for the temporary? CEO contact is:
davidpvoracek@gmail.com
new board member and i believe new president? contact is:
darius@starcastgroup.com
old man
it can take some time. they had a very extensive site covering each of their business(s) and more. my guy is not doing it. time will tell. my guess - next week. but again, with my guy, yesterday.
old man
again, asking for information on our web site to be cleaned up. i have offered to have my tech do it at no cost to the company. nothing. they are stupit IMO.
see below what are some of the information i noted to our CEO, new Board member and i included the doc in the email.
For more information, please go to the RehabCo or the OmniBody Scan website or contact Pat McGlashan at boston127@verizon.net or 817-837-8000, ext. 222.
The Company has approximately 35 full-time employees
The medical clinics are located throughout the Southeast USA. We presently own and operate 8 company-owned clinics and have another 35 clinics in our Affiliated Clinic Program. We recently sold a number of clinics in order to pay off debt and bolster our ability to build new revenue producing business entities. Telmedco provides second opinions to company-owned and affiliated clinics as well as four clinics outside the Division's network.
Pat McGlashan
Chief Executive Officer
Pat has worked for AHC over the past six years as President of its wholly owned subsidiary, RehabCo. Before coming to RehabCo, he held several executive and management positions with leading telecommunications companies such as AT&T, ITT and Southern Pacific Communications (now Sprint).
Pat expressed his pleasure at being appointed the new CEO of American HealthChoice, Inc. and states that his priority will be the hiring of new auditors and returning AHC to trading status..
Pat McGlashan
CEO
patm@rehabco.com
John C. Stuecheli
Vice President and CFO
jstuecheli@americanhealthchoice.com
Corporate Offices
4300 Windsor Centre Trail
Suite 100
Flower Mound, Texas 75028
Tel: (817) 837-8000
Fax: (817) 837-8004
Last financial statement filed on 5/19/2009.
Anyone interested in purchasing the OmniBody Scan or in becoming a reseller should contact Patrick McGlashan ( patm@rehabco.com ) at 817-837-8000, ext. 222. Infrared Thermal Imaging Updated 10-06-2008
Contact Us
Phone: (817) 837-8000 x222
Email: : patm@rehabco.com
AS YOU CAN SEE WHAT A MESS. PLEASE CLEAN UP OUR WEB SITE. WE DO NOT NEED CONTACT INFORMATION TO A DECEASED PERSON. WE NEED TO EXPRESS OUR STATEMENTS TO REFLECT OUR CURRENT POSITIONS.
WE NEED TO GO FORWARD NOT BACKWARDS. OUR WEB SITE IS FOR THE PAST. WE NEED TO EXPRESS OUR FUTURE.
old man
searay:
you need to make sure you email management not investor information which could go to who knows whomever.
try the email addresses that i noted.
besides you and i, we need everybody who owns stock to do the same. just a hand full will not work. doc and i have a lot of shares and we can get some things done but its limited.
what is important is to constant emailing over and over on a timely basis not everyday and than we may get something done.
remember, if you ask for a specific piece of information they cannot give it to you without giving it to all. SEC rules limits what can come out to "one source" vs the shareholder needs.
what we need to get is our web site up to date and any information to shareholders posted there. i have offered to have my tech do it for free. seems they want to do it their way.
what we need to do it let them know doing it their way is no way unless they really do something - updating the web site is the less cost effective and quick way to impress shareholder for a start.
management just does not get it. come on people - start those emails. make suggestions. do not ask for information, they cannot give it. instead ask for management update via the web site - there is an investors page there again, many years old.
old man
searay,
the problem is with management not getting information out. we shareholders in mass need to email management (several previous posting has email addresses as does are web site with others) to ask them at least to get our site current.
than add how is it going with getting us back on the board.
unless the shareholders work as a team and be content in emailing management they will (IMO) do nothing.
i sent out emails weekly 90% of the time nothing comes back. went something does its the same (working on it) statement.
but that least they are ?? working on it ??.
come on people, if you want something done, doc and I are only two, you need to help also. i know it will be done but if you want it now work with us in contacting management about being more open and get that site current.
if the site gets current than we know the rest should follow. at least now we know management cares.
old man
Splash,
the problem is he just does not want it any more. he will help if needed, but will not take a daily or even weekly active role in this company.
went it comes to major decisions and expenses and i think the current leaders will ask his advise because if anything else he has years of history to help them with.
the number one target is for getting back on the boards and keeping the company making money.
i will make more comments but they will be IMO only.
the company has not needed outside cash for some time now, they are still making money, and they have a good balance sheet considering current activities.
now saying that what i do believe is happening is the company has dropped a lot of past ideas, cost with them, and is going on with the clinic profile to keep afloat.
at some time, they will expand and/or get themselves on the board but again, i do not believe it will be done without major cash flow and/or working with another third party (merger of some kind).
the doc and i email back and forth on a timely basis but we keep the flow within SEC guide lines. just talk.
i one thing i have not liked is that the current management does not come back to us with comments on what is going on - if at least through our web site.
i got them to post the last piece and i had to pull hair to even get that.
have you noticed that all information still goes to a deceased person and that is also noted on our web site.
investor information is going on 3 years old, site information is going on 7 years old and again, information is moved to a deceased person.
current management just does not get it. the internet is 85% of the world information highway and they are not taking advantage of it. that is what is sad.
if any of the others here can just keep emailing the two noted in the previous email about our site and have many others do the same, maybe they will understand "act now".
again, all this IMO with some information.
old man
for general contact information, go to the web site.
as for the temporary CEO contact is:
davidpvoracek@gmail.com
new board member and i believe new president contact is:
darius@starcastgroup.com
as for Dr. Stucki, he is no longer involved in the company. he is just for now a stock holder like you and me. he holds about 53 million shares and his vote is very important but the company is going on without him.
hope that helps
old man
still with about 6 million shares.
comments from the doc to me. as i have noted, i am the second largest public owner of stock in this company.
couple items posted here that i emailed the doc for his comments.
"I do not know how to post a message on a message board nor do I have a desire to do so, but I will respond to you. I am still the largest single shareholder of AHC. I am also the single largest creditor of AHC’s. although I am not an officer or a director of the company, I do have an interest in seeing that that the company doesn’t sink.
AHC does have competent people at the helm. The new board members are diverse and have their own thoughts about AHC and its future. One such thought is borrowing money for the audit and new registration and or doing a merger and or acquisition to grow the company.
As to assets, I believe it still has the necessary assets to get relisted. The assets base of AHC hasn’t significantly changed over the last few years. The ship was right sided and stable before I left, although I had not taken a salary in years and was burnt out. My stepping aside was to bring in fresh blood with new ideas.
I wouldn’t lose faith yet, I haven’t."
reference to law suit:
"What is undoubtedly true, if a shareholders law suit ever arose, the secured creditors would get the company and the shareholders including myself would be flushed. I don’t believe AHC would even try to defend as they wouldn’t have the money for the defense, they would most likely file bankruptcy."
my comments of course IMO.
i have asked many times for them just to update our web site. i have offered to have my tech do it and pay for it. nothing yet.
shareholders: please continue to email the company and continue to request our site to be updated.
i will be there later this year and see what i can do it person.
thanks for your posting here.
will try to get answers when possible.
old man
as of last week, he is our new (Temp) CEO. do not know when it will be made public.
old man
splash59,
i send a copy of the email to Pat and Doc. sorry for the hard posted email but this is what i got from the Doc just moments ago.
"Pat passed away last week, please don’t be so hard on him. He died of complications following pneumonia. He will be missed by all."
old man
splash59, i am very disappointed in Pat. on november 10th Pat emailed me that within 30 days the financials on our web site would be updated.
that was the last correspondance that i have had with Pat. i have emailed several times about his 30 days and counting and updating other parts of the site that are going on 7 to 8 years old.
still nothing. i have cut Doc in with a copy and he has noted via received email that at least he has read by emails.
i expected more out of Pat. seems its going to be the same way he ran the other divison.
in my opinion, he delivered nothing to our bottom line greater than what he got from the company in compensation.
sad to say this, but it looks like the same old business way of doing things.
being the largest stockholder behind Doc and one other, i would expect them to at least give me that repect to answer by emails.
if they cannot even keep our site up to date - which would cost little to do - what do we expect them to do with our company?
what i am saying "what you show and do is what we should expect". now its nothing.
will being going to texas in couple months and will have face to face meeting with our company higher ups sorry lower ups - if we are still in business.
old man
that i was expecting about the audit. it costs close to 100,000 to get a two year audit done these days.
they are looking to see if they can get it done for a lot less.
i personally do not believe the company can expense about 100,000 at this time.
i want to see what financial information that is put out and than be able to determine if an audit is in the near term.
in my opinion, its not going to happen until we have a sound financial cash position to do it.
once done, the company could sale stock to get more capital. its a two headed sword. pay now and hope to get more later.
or wait it out and have sound footing to work with.
i believe Pat is on the course of wanting sound footing before something is done. who would blame him. Doc has had it for 20 years and Pat less than one year.
let see want comes out with any financial release.
old man - still number two in stock holdings behind the Doc. as a individual person.
Splash59: one item that has be concerned is the OmniBody and its cost. i have asked for months the status and have got nothing. i personally believe they do not know the true cost to our company.
i sure hope its not dead but coming back very soon. there are now many others out there with the same system.
its the software that is more information than the system. the cost here could effect our financials on paper.
i still think we are cash flow positive but i am not so sure on a tax basis we are profitable before income taxes.
we still carry a large carryover loss from previous years.
we also have a large reserve for Doc's salary which he has not taken for many years. i do appreciate that from the Doc.
it helps me to at least know the Doc still wants this on going and make something out of our company. otherwise, Doc would have taken the money and run. he did not.
now its Pat turn to get it done. i have 12 years of CFO experience with a top 5 company in the world (retired at ago 49 many years ago). i now how hard it is for many small companies to get thinks going. in our case its a little toooooo long to get it going.
that is were Pat has the chance to put us right. we should know again if its the same business or a new start by years end in my opinion.
old man - again, behind Doc, i am the largest individual that owns shares.
Splash59, our company site will be updated with new financial information per Pat within about 30 days. he will answer emails and is direct with his responsibles. i do like that.
now, lets see the mojo. will he be the new man or the same doc.
so far, i think he will make it work and is trying hard to get us back on the board.
by years end we will know if its business as usual or a new time is upon us.
old man
ps- i do own a lot of shares.
EY will make it work one way or another into something that will make us money.
do not expect him to put out information on a daily basis. if there is something that needs to be addressed, he will advise us stockholder.
remember, he owns 50% of the company basis the preferred stock and 250 million of the 308 million of the common.
float is 58 million.
that means EY owns 90% of the value of this company and the company still owes him money that has been advanced through HULL.
once it moves, he makes a killing and the rest of us may get a carrot.
but that carrot is better than leaving us in the dust.
time will tell.
he is trying very hard. you can see from all the activity this year.
hope for the best for us all,
old man
disclosure i own 175,000 shares.
mike,
thank you for keeping this board clean and updated. for your information i have 6,000,000 shares and the doc will tell you so if you want to ask. you can update your information as to ownership. use my board name for now.
i am going to buy more once we get relisted (i will not answer as to why so do not ask) and that will take a 2 year audit period and its not cheap. that has been the hangup. amhi had so much hope on the image camera that amhi believed money would come from this source to help fund the audit. as we all know it did not happen. it has costed us an arm and leg without increasing the bottom line.
i also keep in contact with the doc from time to time. for the boards information, they are working on updating and cleaning up our web site.
time will tell as to went. i was upset at the doc for putting out the information on Pat without updating our site at the same time.
as i noted to him, you need to work all information as a team not one way.
old man
Searay270:
emailed the doc and got this answer for you.
"American Healthchoice is a holding and management company, therefore does not need licensed. AHC Physicians and AHC Chiropractic, and Rehabco are the licensed healthcare entities."
hope that answers your question.
old man
Anyone can file a suit.
you better have proof of what you file. you cannot rely on the company giving you that information. that would require an audit on your part at your expense.
my guess is, if you have at least 50,000 and a good lawyer you maybe able to get somewhere. however, the company could sue you for false filing if you do not have proof up front.
the fact that there is no audit is not a factor. if the company is still in business that is fact even.
if the doc files some information from time to time that is proof that at least he is providing information.
whether that information is correct or not is not the point here. its that fact that information is being filed.
good luck. you will need it. the SEC may ask you questions on what proof and facts you have if the doc follows that route.
as for me and my 6,000,000 shares and having problems getting large blocks now, i will wait. i have patience. the doc does answer my email questions because i ask a question and for information NOT giving advise, not given hell, and not yelling within the request.
just simile and clear. i do get answers. again, i will wait.
personally, i would like to wait till we have enough funds, or doc wants to invest in another joint operation, buy something, sell his shares, THAT will at least require a two year audit and if doc wants to sell some of his 50,000,000 shares he will have to post within the SEC that he wants to sell after the audit.
therefore, he needs to audit at some time, he is not getting any salary, he does get or was getting some shares instead of salary - now i think its just put on the balance sheets as owed to the doc.
good luck to all,
old man with 6,000,000 shares.
Answer from doc:
"For now, but not for ever, we are jumping through the hoops to get a market
maker and get back on the pink sheets. We have sorted out the how to do it."
Regards,
Dr. J. Wes Stucki
CEO, American HealthChoice Inc
www.americanhealthchoice.com
817-837-8000 x203 - office
817-837-8004 - fax
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If you are submitting a Local news story:
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I have contacted most large radio stations nationwide, local and so on. I have also contacted the major TV networks. I have asked them to contact the doc directly.
I have also contacted the doc about doing the same. It costs nothing but time to try.
old man
for those who do not know who i am, i own over 6 million shares and post mostly on ragging bull.