Their annual revenue run rate for the first phase of 28 beds is probably more like $2.5 mil/yr. You have to include most of the accounts receivable as billings in the last month of a qtr go into AR as collecting money from entities takes time. Here is my guess as to their revenues, maybe someone else has one as well. I don't believe that each bed brings in $400, maybe $250.
2nd qtr rev $370
2nd qtr AR $330
total for 2nd qtr $700k
when 60 beds $4.5-$5.0 mil/yr
The model is working, just have to get to 60-70 beds. Its the stock that isn't. Have to see what happens down the line.
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