We haven't seen the actual results yet and want to sell the property in Canada? That property to date is the only cash flow they have had per quarter. They don't have to sell the source of their best cash flow asset when they have shares to sell. They need to get busy and sell this down and convert the debt. If they were a responsible company led by a CEO who knew how to run a OTC company he would get the debt converted as much and quickly as possible and reverse split. They have been hamstrung by this debt and has prohibited the intent to buy such things as the ARIA leased facility, the LOI for COVID CLear, the BHHI acquisition, etc.
The potential, and very optimistic, projection of $1 million in revenue a quarter from ARIA is actually a "gross billing" number? The ARIA ownership and disbursements have been diluted by the options?
"On June 30, 2020, the Company entered into an agreement whereby the Company will acquire 51% of Behavioral Health Holdings, Inc. (“BHHI”) from The Q Global Trust (“Seller”) and Lawrence B Hawkins, which in turn owns 100% of Peace of Mind Counseling Services, Inc. (“PMCS”), which operates drug rehabilitation facilities. The consideration for the acquisition is still to be determined. The Company is currently considering its options to acquire a stake in BHHI and may renegotiate the deal terms."
"...As a public company we must use an accrual accounting system which starts with stating the Gross Revenue or Billing number and applying an estimated factor of expected collection of those Gross Revenues which would reduce the Gross Revenue to the Revenue number..."
In July the Company reported that it expects to produce $1.8 million in Revenue in the Second half of 2021. What does this mean?
The Revenue number is the net amount expected to be collected from the provision of services. ARIA has 10 beds for the detox level of care, 12 for the residential level of care and 20 beds available to partial hospitalization care. The beds are also further split into male and female beds. Even though we have 40 beds it is almost impossible to match each client with an available bed at the proper level of care and the gender of that bed availability. For example, when we agree to move a client form Residential care to Partial hospitalization care and plan that for Friday, we need to keep an open bed for a few days just to accommodate the move. For all these reasons, it is considered a “full house” when we reach 35 or 36 occupants in total for any given night.
In November and December the Company reported that the ARIA treatment center had Gross billing numbers of $602,000.00. What did that mean?
"The various Gross Billing amount for a single day of treatment in Detox is $4,500.00, Residential $3,950.00, PHP $3,200.00, IOP $2800.00 and OP$2,200.00. In-network contracts would pay anywhere from 5% to 15% of those rates. Out-of-Network claims could pay around 25% to 35% of amount claimed. In addition there are deductibles, co-pays, and co-insurance that affect the actual net on the claims."
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