Premier Health of America Inc V.PHA

New date

[Bigmac4000]

Mark October 15 in your calendar. That's all I'll say

[stockrook86]

Can you give any other hints? I mean 30 makes sense if it can be done, its both company's fiscal yearend. Odd there hasn't been any news, unless ithey just plan to annouce after closing.

[Bigmac4000]

All I can say is don't panic on October 01 if nothing happens.  I could be wrong but I am fairly confident in October 15 and not September 30

[CauseWhyNot]

I really thought this was going to go back to 25 cents after sept 30th. Surprised it's holding up.. people must still have some hope this will close

[colourama]

I think (rumour has it) that the closing may be finalized in mid-October. I don't have any information myself about that so take it as a grain of salt. Sometimes these things take a while.

[BrokeStocker]

Two missed deadlines and silence from the company, not giving me the warm and fuzzies. I think we're going to continue to drift lower over the next week or two if there continues to be silence. I'm one of the ones holding out hope, but I'm sure many will get impatient. The longer this drags on the bigger the risk of fall through, so I wouldn't bet against us hitting $0.25 again at

[Bigmac4000]

See my previous post about marking calendar. There was no offical date. The original statement was "approximately 45 days" then it was assumed year end September 30.  

[MrBeast]

I also find it hard to beleive the CFO wants to risk losing let's say half of his almost 100k of his own money he's invested if he's not confident this deal is getting closed. That being said obviously it doesn't mean it will forsure.

[snootchybootchy]

I don't think it was "assumed" the acquisition will close on September 30.  That was what management told shareholders. See the beginning of the 2nd paragraph on page 6 of the MD&A: "We expect to conclude the acquisition of Solutions Staffing before the end of our fiscal year end." Note they did not say "around" the end of their fiscal year -- they said

[Bigmac4000]

They were still playing with words. "Expect"  is about as good as saying WE HOPE lol.  As I said about a week ago. Don't panic when it's not September 30, mark Oct 15 in your calendar. Not sure why they gave the 45 day original date to begin with, maybe they were hoping it would sell some shares if the date was rushed. From approx Aug 20 to Oct 15 is a heck of a

[CauseWhyNot]

I suspect they are having financing problems. When they did the first loan rates were 25% what they are now. Now interest payments must be a factor and they likely want more converage.  I hope they don't lose this deal. Every staffing company out there has been growing 20-30% accept pha. It's painful. 

[Bigmac4000]

Be patient. October 15th. I agree it looks bad but we will hear more Monday October 16 I believe. The deal is going through. 

[colourama]

Looks like some sellers aren't waiting. I'll happily take a few from them and wait it out. This is the first big "project" of the new CFO - would reflect pretty poorly if he couldn't get this done financial-wise. The company (with SSI included) has by my rough calculation an EV of $60 million, assuming debt of $20 added to existing $20 and $20 MC. With SSI, it looks like

[BrokeStocker]

I can practically sense the impatience building at this point. There's a clear downward trend within the one month chart and technicals are blaring sell. I really hoping your prediction is accurate, BigMac!

[colourama]

Agree that you can sense impatience with the selling. On the other hand, why would the CFO be buying 100k shares in September on the public market, if anything was going south in the closing of the purchase? It seems more plausible to me that, as BigMac has suggested, they needed a couple of weeks beyond September 30th to get things wrapped up. You wouldn't necessarily put out a news release

[BrokeStocker]

I think the CFO was the only one buying for awhile. Now that he's stopped propping up the price we're drifting lower.

[CauseWhyNot]

We will see but something tells me it's either dead or extremely delayed which means it still might die. (Not to be a pessimist, but it should not have taken this long unless there was real reservation from whomever is financing ) 

[colourama]

I don't have the first clue about financing, but they had fairly substantial A/R to be collected - I wonder if the length of delay is related to them collecting on enough of the outstanding A/R to accumulate cash to get them "over the hill" once it is added to their existing debt capacity. Who knows.