MDIX...
Brian:
Yes, I owned MDIX (NURS) last year... I sold when they sold some New York offices... The stock now looks good technically for a move to the 1 1/8 to 1 3/16 area...
Here's a snipit from one of their news releases:
""The increase in revenues during fiscal year 1997 can be attributed to the
company's acquisition of Ellis Health Services, Inc., STAT Health Care Services, Inc.
and TherAmerica. These acquisitions contributed $2,018,000, $5,072,000 and
$8,387,000 to 1997 revenues, respectively. Revenues from the company's travel
nursing division, established in the 1996 fourth quarter, increased to
$1,349,000 from the $24,000 reported in 1996.
The company signed a definitive agreement in October 1997 for the sale of the
company's Ellis Home Care and STAT Health Care Services offices in Yonkers and
New York City, respectively. The definitive agreement is subject to several
conditions to closing, including regulatory approval by the State of New York to
the transfer of the necessary licenses.""
The area that generated the increased revenues is being sold off... So where are they going to replace those revenues?
The repurchase of convertible Warrants is seen as a plus... It reduces potential new share overhang...
Jim |
