A true penny stock, the stock hasn’t moved much in the last year, but it may push high in 2008. American HealthChoice (AMHI.pk) is a pink sheets stock. I bought a bunch of shares of this stock 2 years ago, saw it take a wild ride, then dumped it.
I decided to look at it again, and their recent news looks promising.
The Company has reduced its clinics to a core of six profitable clinics that should bill approximately $5 million in 2008. The clinic operations will continue to contribute profit and will be cash positive in the foreseeable future. AMHI continues to reduce corporate expenses to less than $400,000 annually.
http://www.americanhealthchoice.com/articles.cfm?art_ID=65
The financials aren’t updated with the SEC due to a lack of competence by their auditor. That’s also explained in the article above.
They are awaiting FDA approval for a new device that allows doctors to remotely monitor patients via IP. If that approval comes, news chatter will be boosted for the stock.
If all they explained in the report is true - new device approved, profitability, SEC reports submitted - this penny stock could run soon. At these prices, it doesn’t hurt to be invested.
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