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 17, 2013 12:04am
205 Views
Post# 21001888

RE: I am sorry to say PSN is cooked

RE: I am sorry to say PSN is cooked

Correction to previous post. In front of  net assets I omitted the word current. The net current assets would be $37.8 million after adjustment of new figures which means that the company does not have enough current assets to payoff of bank loan of $55.5m. However the company would have total assets of about  $99.7m which are enough to pay off the bank debt. For this the bank / company would have to liquidate the property/assets.  We do not know what the company will get for its total assets of $99.7m in a distress sale.. This amount incudes cash $3.4 AR $23.5m Prepaid Exp $4.3 Inventory $6.5m Def Taxes $2.5 Property 59.4m.  Now on the liabilities there are account payables of $23.1million. Dividend payable $14.8 if you add the last div announced. Current taxes $6.6mDef taxes $1.6m. After corrections / adjustments & increased expenses the balance sheet would be very ugly & the company has to be very low on cash. I have a feeling that the present outstanding loan would be much larger than $55.5m. Now the question is who is going to give them cash if they do not have positive cash flow. Will the bank allow them to draw against the remaining LOC.  One more thing any changes in their LOC is material information & the company has to disclose it. So it can be assumed that they still have the LOC of $100m & the loan has not been called. My guess is the next news would be about the bank loan.

Bullboard Posts