Nobilis Health Corp. N.HLTH

News. YIKES!!

[cannhealth]

Nobilis Health Announces Filing of Form 12b-25 November 09, 2018 HOUSTON, Nov. 9, 2018 /PRNewswire/ --Nobilis Health Corp. (NYSE American: HLTH) (NEO: HLTH) ("Nobilis" or the "Company") announced today it has filed a Form 12b-25 Notification of Late Filing with the Securities and Exchange Commission (the "SEC") relating to its 10-Q for the period ended September30, 2018. In the filing, the Company stated that additional time is required for the Company and the auditor to complete their review of the Company's financial statements in order to finalize the 10-Q. The Company is re-evaluating the Net Realizable Value on its Accounts Receivable and intends to make a significant adjustment to the carrying value of accounts receivable, primarily on out of network claims greater than 365 days old. The final adjustment is subject to the completion of the Company and the auditor's review. "We are deeply disappointed by the slow pace of our collection efforts that have resulted in this impact to our receivables, which will have a significant negative impact on our financial results for 2018. Over the last several months we have completely overhauled the process and leadership of our revenue cycle and continue to improve our billing and collection processes and procedures. We continue to work towards the collection of receivables," said Kenny Klein, CFO. This 12b-25 filing gives the company an additional 5 days to file its 10-Q and still be deemed to have been a timely filer. The company is working diligently with our auditors to complete the review of our financial statements.

[TaylorSimple]

Thanks for the post. It's interesting. Do they mean that there will be further negative impact or they are talking about the current negative impact? Maybe someone with accounting experience can explain? It sounds like they are saying they won't be realizing value on accounts receivable over 365 days. Is this what others intrepret? And this adjustment will impact their results for 2018

[LAG4]

Very poor as usual. Instead of proactively dealing with this question they keep kicking the ball down the road until someone else screams uncle, in this case its the Auditor. Its really unprofesional for these guys to deal with this matter the way have.

[LAG4]

I wouldn't be surprized to see this halted. It really should be till they can desseminate this news fairly. On 10/22 this started selling off now we find out 3 wks later that it a significant development that "will" effect 2018 #'s however we dont know the extent. Not really a level playing field is it? Thanks again Harry!!