I feel like I should share this with everyoneHello Cole,
I have been an investor of NHC for the past year and a half (stuck at average stock price of [Blank] dollars per share). After listening in to the Cantor Fitzgerald's 2nd Annual heath care conference, I have some questions and concerns which I am wondering if you can address. This includes the following:
1. Can you provide me with some color with regards to acquisition?
Harry mentioned during the Bloom Burton & Co. Healthcare Investor Conference that (verbatim) " Talking with our bankers about share repurchase..I think the stock has moved enough and we have enough in our incoming financials and coming acquisitions (notice he states the word in plural) we will recover in the next 60 days. This was stated during May 2nd and it has been well over 60 days.
Then he stated in Q1 conference call, " I would now like to provide a brief M&A update for Q1 and the rest of 2016. We are currently under one letter of intent and in the process of negotiating two additional letters of intent. We expect to close on these acquisitions shortly. Due to the contracts in place, I'm restricted from giving any further information on these acquisitions. Before handing the call off for questions, I would like to reiterate previously issued guidance of $320 million of revenue and $65 million of EBITDA -- adjusted EBITDA for 2016. Given that Q1 is traditionally our weakest quarter based on our progress this quarter, we are confident that we will exceed the 20% organic growth forecast in 2016 and we will achieve the forecasted $51 million in organic EBITDA. As I stated earlier, our acquisition plan is on track and we expect to meet our forecast for our acquisition revenue and EBITDA as well." This was stated May 11th and has been well over 60 days because from your correspondence with Chris (chriskovac69@gmail.com ), you stated to him NHC is in a Blackout (blackouts typically last for at most 60 days at the most).
cole,
Thanks for calling me today. Am I right in assuming that you would be in blackout mode if you were about to make an acquisition? Are you in blackout
Mode?
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Chris,
Yes we are.
Thanks,
Did the acquisition deal go sour?
2. Does that mean the guidance will be changed because Harry incorporated acquisitions goal of $45 million and nothing has came out of it as of yet?
3. Do you have any information on the legal suit against Anson Funds? There has been no updated news about the class action law suit and the legal fees are partly the reason that the EPS was low for Q1.
4. Are you allowed to share Harry Fleming's work email (Nobilis health email)? I have other questions more directed towards him.
Thanks for your time,
Response (nutshell-since he has a disclaimer) :
The way he responded left me unassured and when I was reading it (my opinion) suggested things didnt turn out the way it was intended and I whole hearted believe the lawsuit against anson is going no where.
My confidence is lessened now about NHC..I shouldnt of asked the tough questions.
Note: This is my opinion based of reading his response and in no way what he stated in email to me.
Ps. Sophia aka Chris, it is illegal to publicly submit an email conversation with a person having a disclaimer! I hope you don't get sued..live and learn.