________NEWBIE MIKE MORGAN COMPARES GYMM TO RMIL_____________
Since Mike didn't respond to my request for the criteria by which he found comparisons between GYMM & RMIL, I started my own DD>>>>>
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Healthtech (GYMM)
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Started By: Michael Stickel
Date: Jun 13 1996 10:23PM EST
Replies: 493
Principle business is the acquisition and management of mega-health club
facilities. The Company has five centers of operation - international
management, a distribution company with over 30 product lines, and
health club operations. Currently operates three clubs under the
national trade name Results Sports and Fitness with locations in
Midland, Texas; Fort Worth, Texas and Tucson, Arizona. Company also uses
R-144 treasury stock to acquire clubs and chains that fit its profile.
Very strong management with considerable public company experience and a
wealth of knowledge regarding the health club industry. Gordon Hall,
Chairman and CEO and Tim Williams, President were founders of 24 Hour
Nautilus, the second largest chain in the country with over 100
locations. Together, the veteran management team has been involved with
over 300 health clubs.
HealthTech International currently holds approximately $25,000,000 in
assets with only $5,000,000 in debt. This was accomplished in the last
12 months under new management. Management expects to grow to over $100
million in assets over the next 12 months.
HealthTech plans to continue to acquire high value, under-performing
health clubs. One strategy being implemented uses low cash techniques to
acquire properties for stock or expertise and then selling off
commercial pads to generate sufficient cash to build mega-clubs debt
free. Announcements regarding near term acquisitions and joint ventures
are expected in May.
A March 11, 1996 announcement stated that total revenues have increased
by 760% to $1,154,112 for the first quarter ending December 31, 1995 as
compared to $151,800 for the same period ending December 31, 1994. The
Company's first quarter results also show a decrease of $1,360,982 to
its overall current liabilities, a 27% decrease from the fourth quarter,
and an increase of $1,460,042 to total shareholder equity for the first
quarter of fiscal year 1996 which ended December 31, 1995.
Plans call for maintaining the current debt to equity ratio at 20% or
less which bolsters the earnings prospects. The earnings trend under
this management team is clearly positive. EPS estimates for 96 range
roughly between .75 to 1.25."
At this time there are approximately 4,200,000 shares issued and
outstanding with a public float of about 940,000 shares
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OK MIKE, Start us off, we're waiting............Pugs |
