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Microcap & Penny Stocks : Hearx(EAR)
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To: Gene Loparco Jr. who wrote (8)11/9/1996 10:30:00 PM
From: Lee Bush   of 383
 
Gene:
Regarding what you termed minor effect upon the company, I find this in their March 10Q:

Effective May 31, 1996, Humana Health Care Plans of Florida ("Humana") declined to renew its contract with the Company to provide coverage to Humana Medicare members on the east coast of Florida (the contract to service Humana Medicare members living on the west coast of Florida was unaffected). Total revenues from Humana east coast members were approximately $2 million in 1995, or 18% of the Company's total revenues.

Since they are very near to filing the next quarter, I didn't analyze the older 10Q. The company has a great vision and a great CEO, but it also has a whole lot of debt in the form of equity issues of many flavors and long term debt with their supplier, 3M. I will just have to see a new 10Q to see how all of this is going to shake out. That quarter had a .17 loss/share on 51 mil avg. shares. Since shares are permitted to increase 10% per year, we don't know exactly what they are not, but probably about 70 million common shares.

Lee
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