first i'm reading this. i see why some images are in red x. March 24, 2010 Contact: Dr. Stucki
Shareholder update 3-23-2010 For Immediate Release We have temporarily taken down our Rehabco and Omnibodyscan websites until we can remove some of the images and or resolve a couple of issues with the manufacturer of the Omnibodyscan. These issues are two fold;
1.Involves negotiations for a new cost associated with our private label, as we did not hit our targeted sales during the first twelve months.
2.Involves lack of support from the manufacture under the manufacturers warrantee.
The majority of American Health Choice, Inc. revenue continues to come from its clinic operations. We continue to operate very lean, without the CEO drawing a salary. We have been able to remain current on our accounts payables and have implemented some new protocol to help with collections.
We did get a quote for an audit approximately a year ago and it came in just over 100,000. Needless to say, we do not have this kind of cash flow to conduct the audit. It is our understanding that we will only need to go back two years, therefore this number should be considerably less with September 2010 year end. At that time we will look at and seek a quote once again.
As some of you know, our affiliate clinic business dropped off due to the fact that the Doc’s at the affiliate clinics were collecting our money and keeping it. Therefore we stopped sending them patients. We are owed well in excess of 150,000 and have recently engaged a law firm to go after this money. We are slowly ramping the affiliate program back up, but with better controls in place.
Our telemedicine business is growing slowly and we recently re obtained the domain name http://www.Telmedco.com
We have recently started looking for a strategic partner to merge with. We have a tax loss carry forward of nearly 6 million dollars, which has real value. In order to maintain this value in the tax loss carry forward the company must be in a like or similar business i.e.…healthcare.
We are working on updating our financials and will post them as soon as they are available.
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