Bitech Technologies Corp (BTTC)

[shrlck9]

One main point of discussion, and one that has been largely ignored on this board, is the potential for headwinds related to the proposed insurance reforms in the state of Florida (see link)

http://www2.tbo.com/news/politics/2012/jan/11/1/florida-house-subcommittee-passes-insurance-reform-ar-346182/

The majority of SPIN's growth is coming from the Tampa and Orlando markets. If you were to look at the top 10 cities for auto insurance fraud (in which pain clinics most certainly play a role), Houston, Tampa, and Orlando are all present. While the Texas market would not be impacted, SPIN's revenue generation ability in Florida would most definitely take a hit if the proposed legislation is passed (and it likely will pass, since the bill was proposed by Republicans, and Republicans hold a significant majority in both the House and Senate in the state of Florida). While there are many theories regarding the recent PPS weakness, this proposed bill probably played a role (as the PPS began declining the day the bill passed the subcommittee).

I am still long the stock (bought 3 months ago), and believe in the business model, but wanted to hear any other opinions on this legislation's potential impact...