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APHY - unnoticed news today and low float
PLANO, TX--(Marketwired - May 6, 2014) - Assured Pharmacy, Inc. ("Assured Pharmacy" or the "Company") (OTCQB: APHY), a growing provider of pharmacy services to patients and physicians primarily in the treatment of chronic pain, today released the following letter to its shareholders:
Dear Shareholder,
These past several months have given us a chance to review our business and make some changes, which we believe will make Assured Pharmacy a stronger company and award shareholders for the long-term. Management would like to provide an update on our significant progress across a number of areas and our vision for the future. The management team and I are more excited than ever about what lies ahead.
We have strengthened our financial position considerably by bringing in new capital and restructuring our balance sheet. A lead investor provided us with $1.44 million of new capital to date, which enabled us to design and implement a plan to streamline our operations and target near-term profitability. The new capital has been disbursed throughout our operations to meet increasing demand from physicians who wish to have greater precision in the management of their chronic patients. We have successfully restructured a significant amount of our outstanding debt. The holders of the Company's long-term debt, totaling approximately $5.5 million, have agreed to extend the maturity of their debt until 2016. In addition, the holders of the Company's long-term debt, totaling approximately $1.5 million, have converted their debt into common equity at a price of $0.60 per share. As part of the debt extensions and conversions, an aggregate total of approximately $800,000 in accrued interest has been converted into common equity at a price of $0.60 per share. All of these balance sheet adjustments allow us to focus the new capital on meeting the increasing demand for our services resulting in revenue growth.
As described in our most recent annual report filed on Form 10-K, management has decided to concentrate our working capital on the Company's operations and support our two remaining pharmacies with optimal prospects. After analyzing historical financial performance, regulatory costs, current sales prospects, geographic and physical location and strength of existing physician relationships, management elected to close the Gresham and Riverside pharmacies on August 5, 2013 and August 8, 2013, respectively.
Following the closures of the Gresham and Riverside pharmacies, customer demand at both our Kansas City and Seattle pharmacies has consistently increased and is accelerating. Since the restructure of our operations, our revenue per business day from our Kansas City and Seattle pharmacies has increased approximately 130% from approximately $12,500 in revenue per day in July 2013 to approximately $28,700 in revenue per day in March 2014. The key driver behind the revenue growth has been the increase in the number of prescriptions. Since the restructure of our operations, our prescriptions per business day from our Kansas City and Seattle pharmacies has increased approximately 31% from approximately 153 prescriptions per day in July 2013 to approximately 202 prescriptions per day in March 2014. Our prescriptions volume is a lead indicator of revenue growth.
We are focused on reaching profitability in 2014 and believe that concentrating our working capital in our Kansas City and Seattle pharmacies will help us reach that goal. Over the past year, management believes it has proven the success of our business model at our newest location in Kansas City and successfully replicated the model in our Seattle location. We are looking to continue that success and replicate the model in select expansion locations, including Denver and Boston.
The foundation for our plan to increase sales at our existing two pharmacies is based on expanding our outreach program to physicians, including more effectively communicating to them the risk management and service benefits that our business model provides compared to a general pharmacy and increasing our customer retention rate. We believe that increasing our inventory levels and expanding our purchasing capacity with existing and new drug suppliers can strengthen our customer retention rates. Since the majority of our pharmacies' operating expenses are fixed expenses, we expect any increase in revenue to have a positive impact on our consolidated operating results. Management believes that the infrastructure of our existing pharmacies can support an increased prescription production volume by as much as an additional 75% to 100% without incurring any significant additional operating expenses, but there can be no assurances in this regard.
Our longer-term plan remains focused on developing a national footprint as a premier provider of pharmacy services to physicians and patients primarily in the treatment of chronic pain and other chronic medical conditions that require treatment utilizing controlled medications. Prescription drug abuse and diversion have resulted in ever increasing regulations. Our business model provides pharmacy services, which are typically utilized by physicians for the risk management benefits. We have developed and refined what we believe is a unique pharmacy service model for the dispensing of controlled medications that is capable of being scaled into a national chain.
We believe that our current corporate infrastructure can efficiently support up to total of twelve operating pharmacies. Corporate infrastructure includes executive management, centralized support services, accounting, finance, information systems, human resources, payroll and compliance to support each pharmacy's operations. In order to align the costs of our current corporate infrastructure with our scaled back operations, management has implemented cost reduction initiatives including staffing reductions, deferral of senior management compensation and reduced operating costs at our two remaining pharmacies. As a result, we believe that the implementation of our plan to open up to ten additional pharmacies will not require material additional corporate infrastructure. Further, management believes that opening each new pharmacy will have a positive impact on our consolidated operating results within six months from opening of the new pharmacy, but there can be no assurance that such positive results will occur.
The past several months have posed some challenges for the Company that have largely been overcome. With our corporate repositioning predominantly behind us, an experienced management team in place, and significant opportunities on the horizon for our business, we are eager to execute our plans over the next few months.
Please stay tuned for future announcements from Assured Pharmacy. In the meantime, thank you for your ongoing support.
http://finance.yahoo.com/news/assured-pharmacy-issues-shareholder-letter-124500179.html
I agree, I like the potential. Seems like the selling is over, now it's time to let her breath and run the stock up. Also the day isn't over, maybe they change things up and release a PR at the end of the day, who frikin' knows! Here's to a serious test of patience FRMC
Yeah I hear ya. Was just wishing/hoping/praying they were right lol! The waiting game continues...
APHY NEWS - anyone notice the news this morning. Not sure why its not showing up on ihub.
PLANO, TX--(Marketwired - May 6, 2014) - Assured Pharmacy, Inc. ("Assured Pharmacy" or the "Company") (OTCQB: APHY), a growing provider of pharmacy services to patients and physicians primarily in the treatment of chronic pain, today released the following letter to its shareholders:
Dear Shareholder,
These past several months have given us a chance to review our business and make some changes, which we believe will make Assured Pharmacy a stronger company and award shareholders for the long-term. Management would like to provide an update on our significant progress across a number of areas and our vision for the future. The management team and I are more excited than ever about what lies ahead.
We have strengthened our financial position considerably by bringing in new capital and restructuring our balance sheet. A lead investor provided us with $1.44 million of new capital to date, which enabled us to design and implement a plan to streamline our operations and target near-term profitability. The new capital has been disbursed throughout our operations to meet increasing demand from physicians who wish to have greater precision in the management of their chronic patients. We have successfully restructured a significant amount of our outstanding debt. The holders of the Company's long-term debt, totaling approximately $5.5 million, have agreed to extend the maturity of their debt until 2016. In addition, the holders of the Company's long-term debt, totaling approximately $1.5 million, have converted their debt into common equity at a price of $0.60 per share. As part of the debt extensions and conversions, an aggregate total of approximately $800,000 in accrued interest has been converted into common equity at a price of $0.60 per share. All of these balance sheet adjustments allow us to focus the new capital on meeting the increasing demand for our services resulting in revenue growth.
As described in our most recent annual report filed on Form 10-K, management has decided to concentrate our working capital on the Company's operations and support our two remaining pharmacies with optimal prospects. After analyzing historical financial performance, regulatory costs, current sales prospects, geographic and physical location and strength of existing physician relationships, management elected to close the Gresham and Riverside pharmacies on August 5, 2013 and August 8, 2013, respectively.
Following the closures of the Gresham and Riverside pharmacies, customer demand at both our Kansas City and Seattle pharmacies has consistently increased and is accelerating. Since the restructure of our operations, our revenue per business day from our Kansas City and Seattle pharmacies has increased approximately 130% from approximately $12,500 in revenue per day in July 2013 to approximately $28,700 in revenue per day in March 2014. The key driver behind the revenue growth has been the increase in the number of prescriptions. Since the restructure of our operations, our prescriptions per business day from our Kansas City and Seattle pharmacies has increased approximately 31% from approximately 153 prescriptions per day in July 2013 to approximately 202 prescriptions per day in March 2014. Our prescriptions volume is a lead indicator of revenue growth.
We are focused on reaching profitability in 2014 and believe that concentrating our working capital in our Kansas City and Seattle pharmacies will help us reach that goal. Over the past year, management believes it has proven the success of our business model at our newest location in Kansas City and successfully replicated the model in our Seattle location. We are looking to continue that success and replicate the model in select expansion locations, including Denver and Boston.
The foundation for our plan to increase sales at our existing two pharmacies is based on expanding our outreach program to physicians, including more effectively communicating to them the risk management and service benefits that our business model provides compared to a general pharmacy and increasing our customer retention rate. We believe that increasing our inventory levels and expanding our purchasing capacity with existing and new drug suppliers can strengthen our customer retention rates. Since the majority of our pharmacies' operating expenses are fixed expenses, we expect any increase in revenue to have a positive impact on our consolidated operating results. Management believes that the infrastructure of our existing pharmacies can support an increased prescription production volume by as much as an additional 75% to 100% without incurring any significant additional operating expenses, but there can be no assurances in this regard.
Our longer-term plan remains focused on developing a national footprint as a premier provider of pharmacy services to physicians and patients primarily in the treatment of chronic pain and other chronic medical conditions that require treatment utilizing controlled medications. Prescription drug abuse and diversion have resulted in ever increasing regulations. Our business model provides pharmacy services, which are typically utilized by physicians for the risk management benefits. We have developed and refined what we believe is a unique pharmacy service model for the dispensing of controlled medications that is capable of being scaled into a national chain.
We believe that our current corporate infrastructure can efficiently support up to total of twelve operating pharmacies. Corporate infrastructure includes executive management, centralized support services, accounting, finance, information systems, human resources, payroll and compliance to support each pharmacy's operations. In order to align the costs of our current corporate infrastructure with our scaled back operations, management has implemented cost reduction initiatives including staffing reductions, deferral of senior management compensation and reduced operating costs at our two remaining pharmacies. As a result, we believe that the implementation of our plan to open up to ten additional pharmacies will not require material additional corporate infrastructure. Further, management believes that opening each new pharmacy will have a positive impact on our consolidated operating results within six months from opening of the new pharmacy, but there can be no assurance that such positive results will occur.
The past several months have posed some challenges for the Company that have largely been overcome. With our corporate repositioning predominantly behind us, an experienced management team in place, and significant opportunities on the horizon for our business, we are eager to execute our plans over the next few months.
Please stay tuned for future announcements from Assured Pharmacy. In the meantime, thank you for your ongoing support.
Sincerely,
Robert DelVecchio
Chief Executive Officer
http://finance.yahoo.com/news/assured-pharmacy-issues-shareholder-letter-124500179.html
Hmmm was hoping to some buying today. Let's see what tomorrow has in store for us. FRMC
Same here , must have the same hunch
Quiet day here, hope we get some news next week.
Yep, I'm tired of this stock too! I hope its being walked down to load cheap shares before the news. Although trading on hope is dangerous, I'll be waiting this one out! GLTA
Maybe the news is coming tomorrow
FRMC - I agree awareness is needed, we may get that with this next PR. I don't think it will take 5 weeks. We should start to move up after the next PR and as we get closer to the drill date. Also they stated they are going to start on OR BEFORE June 15th. Maybe they start sooner...
Excellent! Thank you for sharing. We need some news that will move the stock, hopefully that is on the way. - FRMC
genstock - any information you can share will be greatly appreciated. thank you! FRMC
GRPS - You know I thought the same thing and then I went back and read, and he promised "updates on a regular basis", he didn't specifically say 1 per month. While I was looking for an update this month, I will be happy with and update in approx. 2 weeks. He has been honest and upfront to this point, so I don't mind waiting a little longer. Especially if he was able to secure non toxic financing. Imagine if this next update is about financing and/or getting us current and the CE removed. Any positive update and we will see some significant increases! GLTA
Nice bid! Maybe I need to get a few more... GTRQ
LOL saw that too! But I think it's a good sign. We just need VNDM off the ask , Patiently holding... Ugh I guessed I jinxed us too, now we have STXG on the ask
GTRQ - GREAT! Thank you. I hope we see the CE removed soon too. Doesn't seem like there are many shares available.
GTRQ - Sorry I must have missed it, but are we expecting news by the end of the month? Would love to see some filings updated, but you sound pretty sure something will happen by tomorrow. TIA
GRPS - expecting news before the end of the month, just a few days left! Hopefully we get something juicy!
Would like to see that 500K wall get tested, I bet it's fake! FRMC
PRLX - Merging with co. $55 mill gross revenue and $16 mill earnings! Anyone notice the 8K that was put out this week. Very under the radar. Thoughts?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9929099
PRLX - Merging with co. $55 mill gross revenue and $16 mill earnings! Anyone notice the 8K that was put out this week. Very under the radar. Thoughts?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9929099
FRMC - Same here, I think we will eventually move up. Just didn't happen in my time frame and don't want to sell for a loss at this point either.
I agree that someone was/is loading and when they are done, we will get what we have patiently been waiting for! As we get closer to the drill date in June we should see some movement. Just hope it doesn't take too much longer LOL!
GLTA!
PRLX - Merging with co. $55 mill gross revenue and $16 mill earnings! Anyone notice the 8K that was put out this week. Very under the radar. Thoughts?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9929099
PRLX - Merging with co. $55 mill gross revenue and $16 mill earnings! Anyone notice the 8K that was put out this week. Very under the radar.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9929099
Maybe we move back up today. STXG is off the ASK for now... FRMC
Let's see what happens in Power Hour, NITE moved up to .041 so that's good to see. Would love a close over .04 - FRMC
Yes LOL! Here's hoping for a nice power hour. Let's get into the .04's
Then what are you doing here? Sell and move on, unless, maybe, you are trying to pick up cheap shares.
Hmmm that is strange. Haven't posted on the board yet but have been holding for some time now. Interesting to see the offers over $1. Looking forward to some good news here. I have a feeling our next update will be HUGE and I am thinking we will get it by the end of the month. Go GRPS!
I think you may be right! Maybe we get some news this week.
Yep you are correct, I put bid in for .0292 and NITE moved up to .0293 FRMC
FRMC - will we get to .04 today?! Looking thin ATM, just need some buying pressure.
I agree, with the right news we could fly! GRPS
That's what I'm thinking, maybe we get news next week. Seems like we have been getting monthly updates, and we haven't received one for April yet... Also we are getting close to the time line to get the CE removed. Nice potential here! GRPS
Nice! Thanks for taking out that order. I feel like news is coming soon. Let's see what is in store next week. FRMC
GRPS thanks for the slaps! Nice to see this moving in the right direction. Can't wait for our next update. Would be nice to hear a non toxic financing deal and then the CE removed. It is VERY possible. Good luck to all GRPS longs!
FRMC Seriously 200K on the ask again ETRF.
I added today also. Someone needs to take the rest out!
FRMC took a little chunk of those .03's ... Let's get rid of that order!
Anyone think we will get some oil news next week? Has anyone been in contact with the company? News about drilling would be awesome. tia