American HealthChoice Announces Retirement of Convertible Debentures
FLOWER MOUND, Texas, Jul 14, 2004 /PRNewswire-FirstCall via COMTEX/ -- American
HealthChoice, Inc. (OTC Bulletin Board: AMHI) -- (the "Company") announced today
that the Company has completed the issuance of 20,475,000 shares of its common
stock to retire its obligations under a convertible debenture dated August 25,
2000, thereby causing the release of a first lien against the Company's accounts
receivable
According to Dr. J. W. Stucki, President and CEO of AMHI, "The final conversion
of this debt into equity is a positive step for AMHI Shareholders. The Company
now has the ability to better utilize a very significant asset as an integral
part of its corporate finance structure. With revenues increasing and net
receivables of approximately $6,000,000, we are no longer restricted to equity
funding to finance growth and meet working capital requirements."
While the Company has no specific plans to leverage its receivables at this
time, "We are assessing multiple options," said Dr. Stucki.
About American HealthChoice:
American HealthChoice is a medical services company comprised of a parent
company and twenty five owned and affiliated medical clinics in Texas and
Louisiana.
SOURCE American HealthChoice, Inc.
CONTACT: Investor Relations of Equitilink LLC, +1-877-788-1940, or intl.
inquiries, +1-858-824-1940, for American HealthChoice, Inc.
URL: americanhealthchoice.com
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