As the name suggests, this company was originally focused on heart monitors etc (transtelephonic for home use and easy connect to the GP or specialist to view in real time). However, they have recently changed tack, with their focus to be on the purchase of retirement villages. In short:
- market cap about 10-12 million
- reverse merger with OTCBB Nasdaq listed co. GIMU to form Primedical (PMI) which will be listed on the Nasdaq OTCBB (loose timeframe) - this means that the new entity will have full reponsibility for marketing of monitoring products and any cash burn
- now completed purchase of 2 retirement villages
- appointed 2 new non-exec directors: Peter Berger – Principal of Berger Peiper chartered accts. & Peter Dunne – finance and real estate experience
The full revenue impact of the first 2 retirement villages purchased should be evident in next quarterly. They have planned to purchase many more (according to their strategic plan announced last year). They claim retirment villages will be cash flow positve after expenses and financing.
Has been up to near 30c after new strategic dirn. announced last year - currently at 12-14c
Just putting it out there for discussion