Absolutely wrong... re"Even someone with the reasoning ability of a child should be able to draw the obvious conclusion - PXYN will be factoring ALL WC receivables going forward."
That statement is ludicrous... 36 million dollars ACCOUNTS receivable is COLLECTIBLE - will more than take care of paying the bills... and the work comp collections... Well, this is why the NexGen Med Solutions is operating, growing, and FLOURISHING!
The days of factoring away all the WORK COMP profits are GONE..
Sure they may factor some of the excess as the business is exploding, but the majority is being handled internally by....
And as for accounts receivable... there is plenty of CASH COMING IN... 36 million dollars to be exact!
For accounts receivable that are held and not factored, we do not expect to have write-offs or adjustments to accounts receivable which could have a material adverse effect on our consolidated financial position, results of operations or cash flows as the portion which is deemed uncollectible is already taken into account when revenue is recognized.
So, as I have stated numerous times... THESE ACCOUNTS RECEIVABLES ARE COLLECTABLE and ARE BEING COLLECTED!
36 MILLION DOLLARS coming into Praxsyn in the next 9 months! 11 million COLLECTED since the last SEC FILING , and 25 million over the next 9 months... PLUS all the ACCOUNTS RECEIVABLES they are generating in Q4
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