Resume Conference Call March 11 2021:
Share Structure:
Common shares: 4 Billion Float, hasn't changed since last update, promised not to change in the future.
Preferred shares: mostly owned by Qest Consulting Group (Puget Parent Group), tried up until at least Jan 1, 2022.
Series A Shares: Owned by management to allow majority ownership and board voting rights, considering being exchanged into B shares.
SEC Filings:
Still owe 10-k and 10-q for years 2015 to 2019, hired CPA to finish submitting, expected to be done within 60-90 days. Not expected to have any late filings in the future.
Qest focused on resolving financial and regulatory issues.
Scouting for additional talent to bring into management and board of advisors.
Reverse Stock Splits:
Doesn't feel they work, and have no interest in considering, unless they in conjunction in moving up the ranks in the NASDAQ given certain conditions and recommendations from consultants.
South Florida Behavioural Health Centre/Behavioural Health Centre Overview:
Patients come into the centre in the morning, to receive group therapy administered at the centre from 10am to 2pm and receive lunch. Idea is to create community for older or isolated individuals, via therapy sessions of 10-12 patients and a license mental health practitioner. These patients are picked up and dropped off at the centre Monday through Friday.
Medicaid pays ~$150 a day per patient.
1.9 Trillion Stimulus has several hundred million directed towards community medical health. Puget is looking for a mid-level company with management already in place, to act as the core area of growth for a future larger company. Specifically for management to act operate additional branches that can be opened across Florida.
Looking to use the mid-level company as a base of operations that can then be used to consolidate further companies in the industry located in Florida.
SFHBC is being incubated to become a public company in three years if they so choose. If at that time they choose to become public, they can become a wholly owned subsidiary of Puget or can be spun off. If they are spun off they return 75% of Puget shares they received, which would be exchanged for their own shares? [hard to keep track exactly how they would be exchanged.] Of the 25% Puget would keep, %15 would be given to stockholders as dividend, which management would keep the other 10%.
Other Business Interests:
Looking into pursuing Solar Technology and Nano-tech. If so not certain if that will involve a joint venture, purchase, or incubator.
Also mentioned looking in wealth management in passing.
Live Shareholder Meeting/Puerto Rico:
Will be having live share holder meeting in May, tentatively located in Puerto Rico. Looking into using it as a tax haven, with as Puget management is very familiar with the area and has several contacts.
Tax Exemption might be returned to Puerto Rico due to wanting US to have greater control over it's own manufacturing and be less reliant on foreign manufacturing. If Puget starts manufacturing products, they want to do so in Puerto Rico to take advantage of said tax exemption.
Promise to keep commitments, being professional, keeping word, etc. Will being having more online meeting in the future which will be more interactive.
Investing is like any other skill, you have to learn it to master it !
