My guess on the recent selling pressure. They are basically scrapping the Americas Health Care Plans as it has operated for years. Having converted over 6 millions shares of the old AccessPlansUSA (NASDAQ:AUSA) into APNC shares, there are probably some old shareholders who want out. With the conversion price of about .70 last year, they have made a nice little profit. Still, upper management own over 70% of OS.
As long as they keep a few hundred committed agents who will still be selling health insurance and are excited about getting heavy into the supplemental market, that division will be fine. They expect revenue to remain flat but margins will increase, that divisions margins where not good, so this will help bottom line.
As the CEO said, the original intent of the acquisition was to use those insurance carrier partnerships to offer polices to their exsisting clients. They have almost 2 million people in their Wholesale and Retail divisions, yet only 24k policies in the Insurance marketing. There is huge upside when they really start marketing supplemental to all those people. The second offering at rent to owns could bring many, many thousands of polices alone.
