Praxsyn Corp (PXYN)

[Rhenarium]

It should be pointed out that WC receivables are not actually REQUIRED to be sold for $.20 on the dollar. PXYN sold its WC receivables for $0.20 on the dollar because of a lack of cash.

PXYN says that 46% of gross WC billings could eventually be collected. If they had cash and didn't have to factor, that would leave 28.5% of gross WC billings for PXYN after paying 17.5% to TPS.

Which would be a lot more left over than they'll have left over after NHS gets 64% of NET REVENUE.

It's "better" to buy a carton of 10 packs of cigarettes for $35 than to buy individual packs of cigarettes for $5.00. The fact that you don't have $35 doesn't make buying individual packs at $5.00 a better deal.