NAHC, Inc. Files Fiscal Year 2000 Results
KING OF PRUSSIA, Pa., Sep 29, 2000 (BUSINESS WIRE) -- NAHC, Inc. (OTC Bulletin Board: NAHC chart, msgs, formerly chart, msgs NovaCare chart, msgs, Inc. chart, msgs,) announced today the filing of its Form 10-K for the fiscal year ended June 30, 2000.
As part of the filing, the company has revised its range of estimated values for its assets, liabilities and costs of liquidation. The revised range of estimated realizable value of funds available for distribution to stockholders (liquidation estimates) is negative $19.9 million to $0.9 million, or ($.31) to $0.01 per outstanding common share.
In connection with its Form 10-Q for the quarter ended March 30, 2000, the company estimated that funds available for distribution to stockholders could range from $3.7 - $36.7 million ($.06 - $.58 per share).
The decrease in the estimated liquidation values is due principally to a decline in anticipated collections of the company's long-term care receivables and a reduction in the proceeds realized from the company's sale of businesses arising from claims made by the buyers of such businesses against the escrow funds that were established in connection with those divestitures.
Details concerning the estimated liquidation values are discussed in the company's Form 10-K for the fiscal year ended June 30, 2000, filed today with the Securities and Exchange Commission. |
