I called the investor relations folks today, and the company direct and talked to Matt, the director of finances. Both guys were great, very positive, and answered my questions to my satisfaction. On the share structure first:
There are 209 million shares outstanding. The float is less than 40 million, but most are held tightly by associates of NHYB, large investors. 14 million are truly free trading, although the other 26 million COULD be free trading. But if things keep up, the investors will probably hold, as the company is seriously undervalued. I think this is the additional detail behind what Jines said on SPR, he skimmed over it but was accurate!
Most of my notes are at work, I can post in greater detail next week. There are SEVERAL contracts being negotiated... and the hospital chain is ONE of those. There are a number of things we could hear about soon, I couldn't get any details of course but there's alot happening behind the scenes.
So I asked about dilution, how are we raising money to open all these offices, and won't be diluted to hell? No, that was a problem before Matt got there though to some degree. Since then, he's instructed them to sell notes with interest that NHYB pays back quarterly - but they will NOT sell shares in the near future. He was very firm on this, which backs what Jines said on the radio, no dilution! He actually said they were considering a share buyback, which blew me away. I would never think a company with such a tiny float would buy back! But that would probably come later... really, if they're going to buy back they should do it NOW before all the big news erupts, right?
There is already one NHYB open, that has been around for several years, near salk lake city. The Tuscon office opening this month will be their second. It sounded like at least some of the contracts were in the advanced stages,past letter of intent, and we would be hearing advancements in the very near future about new offices and other corporate developments. The show's just getting started.
Bonus note - I asked, what makes you different from the other Hyperbaric chambers already in the US? Answer - their chambers are one large unit that can hold 6-12 people at once. One big shift, all in, all out at the same time. NHYB has "mono chambers", for 1 person each - 6 per office. This way they are much more flexible on scheduling, and can run people through much faster. This is one of their main competitive advantages.
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