PAO Group, Inc. Announces Profitable Q2, New Corporate Location Openings and Expands Staffing Agreement with Physicians Group!
$PAOG $PAOG $PAOG
Sandusky, OH -- July 31, 2017 -- InvestorsHub NewsWire -- PAO Group, Inc. (OTC: PAOG) a physicians practice management company focused on the proper use of cannabis for treatment of chronic and terminal patients, announces today that the Companys Q2 Financials as posted on OTC Markets demonstrate profitability and positive cashflow with a quarter to quarter uptrend since the merger last year.
We are very pleased with the Companys performance over the last year. Q2 was especially exciting because we are now not only increasing our revenues in line with expansion of operations, but our net cash flow is also net positive and we anticipate the uptrend in profitability to continue as we grow, states CEO Robert Weber.
PAO Group is thrilled to announce that its Alternative Medicine Centers of America has opened its Parma/Cleveland location and it is now fully operational and booking appointments. In addition to the recently announced, Corporate locations in Dayton and Toledo, Ohio, PAO is planning for additional subsequent Corporate locations in Columbus and Akron-Canton, Ohio.
We are well ahead of our timeline goals in Ohio which has allowed us to be equally assertive with efforts in Florida. We have just signed a Letter of Intent with the Physicians Group working with us in Toledo, Dayton and Parma/Cleveland, for a location in Daytona, Florida. This is just days after a fully executed agreement with the group to staff our locations in St. Augustine, Jacksonville and Palm Beach County, Florida. All locations will be Corporate owned Alternative Medicine Centers of America. We are also looking at additional sites for locations in Central and South Florida.
Executives have also been conducting due diligence on opportunities in other states. Key executives have been scouting nationwide toward breaking ground on new Corporate locations in the near future. CEO Robert Weber was in Los Angeles, California last week and Director of Operations Arthur Hall has recently returned from a visit to Michigan with VP of Operations, Christopher Will.
LCLiving Member Level Sunday, 07/23/17 04:49:28 PM Re: wrenchman post# 105670 Post # of 108944
$PAOG MUST READ!!! Q2 Financials and pay extra attention to Note #4, as all convertible debt has been changed to Promissory Notes which adds tremendous value to the stock and shareholders moving forward!
NOTE 4 – LONG-TERM DEBT As of June 30, 2017 the Company had long-term debt of $1,004,693 for notes payable to private lenders as well as previous consulting services rendered. These Notes have been classified as current since they are due at this time. The Company currently has $66,700 in six one year Convertible Promissory Notes to the Nuemark Group LLC. The Notes carry an interest rate of 8% and are convertible at the rate of $.00005 per share. The Company has $93,500 outstanding in three six month Promissory Notes with Brian Kistler. The notes carry interest at 15% and are currently due. Additionally the Company has consulting agreements with Mr. Kistler and his company, New Opportunity Business Solutions, Inc. for $600,000 dating from April 27, 2008. These agreements have been converted to Promissory Notes and bear interest at the rate of 15% per year. In July of this year the Company reclassified the liabilities to properly reflect the proper nature of the debt. Interest for the six months ended June 30, 2017 was $54,680. The Company entered into a financing agreement with CDN Associates LLC wherein $290,000.00 was provided under a one year Convertible Promissory Note carrying 16% interest annually.
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