Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Premier Health of America Inc T.PSN


Primary Symbol: V.PHA Alternate Symbol(s):  PRHAF

Premier Health of America Inc. is a Canadian healthtech company. The Company provides a comprehensive range of outsourced service solutions for healthcare needs to governments, corporations, and individuals. The Company uses its proprietary LiPHe platform to lead the healthcare services sector in digital transformation to provide patients with more accessible care services. The Company operates through two segments: Per Diem and Travel Nurses. The Per Diem segment includes Premier Soin and Code Bleu, two of its Quebec subsidiaries that offer their respective services for nursing and assistance by profile and by region. The Travel nurse segment includes Canadian Health Care Agency, Premier Soin Nordik, Solutions Nursing as well as Solutions Staffing, four of its subsidiaries that offer their respective services to the federal and provincial governments for nursing and assistance, including in remote regions.


TSXV:PHA - Post by User

Comment by PUNJABIon Feb 14, 2013 11:51pm
261 Views
Post# 20992916

RE: Restatements

RE: Restatements

They have violated the securities laws as there was misrepresentation in financial statements. This has to be a serious offense. ASC should send in their staff & get to the bottom. They have to set an example for the integrity of the markets.  PSN has mislead the investors & regulators. There has been massive destruction of wealth. There has to be quite a few pops & moms in addition to  lot of retail investors who got trapped because of dividend & lost their saving. The sad thing is that there has been & continues to be lot of negligence. Some of the institution who have better information & got out earlier & stayed out. Some even shorted the stock. There is a chance that the law suit may now include the regulators, auditors, the board & the lending bank. If the bank had done proper DD & monitored the AR they would not have increased the LOC & even called in the loan much earlier. The chances are that the bank will call in the loan now. How can they increase the credit facility to $100m without taking a look at huge AR. Some investors would have implied that if the bank is giving them more money then everything is fine.  Verification of AR is easy & does not take too long.   The company will lose some more customers because of their accounting practices. There is sufficient material for the lawyers to make a successful case against everyone. Most of them will have insurance  so some of the payout will come from their insurances. It is going to cover only a small portion of the losses incurred for most investors. Because of misrepresentation some large companies may not want to deal with this company & auditors fees & insurance premiums are going to multiply, because of a very valid law suit there will be lot of legal expenses & due to lack of trust in the management this company may end up under receivership.

Bullboard Posts