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Microcap & Penny Stocks : Iatros Health Network Inc
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To: Jeffrey L. Henken who wrote (434)10/10/1997 6:35:00 PM
From: Tom Hofmann   of 560
 
My review of the 10K suggested they would have lost .04 without writedowns. However, operating expenses were 108% of revenue. That will be coming down. Nursing home profit will increase as ramp up costs fade away.
Management's strategy is to get out of the consulting business and do it themselves,thus also increasing ancillary revenues by economies of scale. Ancillary was up in the quarter, a good sign. According to the last conference call, they'll be way up this time, and settle back down a little.
The 10K write offs show that FORMER management REALLY screwed up, and went in the wrong direction (check the write-off for several examples). (Well I suppose that's why IHNI's so cheap!)
I have consistently overestimated this stock because management has been circumspect on how bad it got, which is now quite obvious in the 10K.My thoughts on 1997 earnings actually look good to me for '98(about .17).
But most of the old stuff is cleared away now.Management sees a breakeven quarter in upcoming 3rd report, and a small profit in 4.
Interestingly, I would think a company that cleaned up it's books and is aquiring revenue producing assets may make itself attractive to the right buyer.In answering a question during the conference call about reverse splits(they don't want to) that option was held out only if it would be to shareholder advantage in a merger or something. HMMM.
Otherwise I'd like to see more insiders buy now. But all this is just my unprofessional opinion.
Have a good weekend, everyone!
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