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Sunday, August 03, 2008 2:39:48 PM
Nope, it is actually highly unlikely and not very probable at all.
Look at the financials and they will tell you what is going on here. 14 months ago, 20 million shares outstanding and something like 12 centers touted as being open or planned to open. Today, over 2 billion shares outstanding and 6 open centers with 2 of those acting as Doctors Family Medical clinics also.
Revenues down to under $400,000 and losses that are not shrinking.
Articles on Urgent Care show centers average 2 years before becoming profitable. ERUC is over two years and they still can't find a way to break even let alone profit.
The shares here have grown by a multiple of 100 while the revenues have shrunk and centers have closed.
It is quite clear that this company is less valuable today than it was when all of these centers were operating. Now figure in the fact that 100 times more shares are outstanding and that tells you that those shares are nearly worthless which is exactly where they are trading at.
This is trading exactly where it should be trading becuase ERUC has not been able to produce any positive financials that would lead anybody to believe they are nearing a breakeven point. They appear to be treading water and using the printing press as a life jacket.
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