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Microcap & Penny Stocks : Iatros Health Network Inc -- Ignore unavailable to you. Want to Upgrade?

To: Ontherise who wrote (497)	12/26/1997 4:47:00 PM
From: Tom Hofmann	Respond to of 560

My first question is if the officers in question at Newcare are specifically named in the class action against RCA. If so, I wouldn't think much of any release from NWCA. But if not, perhaps they've defected because of what happened at RCA. I'll call Weiss and Yourman to get a copy of the class action if possible, and see if the names are current NWCA officers. I'll also dig some more. No call backs from IHNI for me yet, by the way.

To: Ontherise who wrote (497)	12/26/1997 4:59:00 PM
From: Tom Hofmann	Read Replies (1) \| Respond to of 560

The officers named in the suit (RCA) are Christopher Brogodon and Darrell Tucker. The info I have for (Yahoo) NWCA is: Ashok Dalal, CEO James Samregret, CFO Tyrone Walker, VP Robert Bell, VP. However, I now see Chris Brogodon in a release dated JULY 1 as Chairman of NWCA. Tom From release this year: NewCare also announced that James H. Sanregret has been named chief financial officer. Mr. Sanregret joins NewCare following 24 years of service with Delta Airlines, where he served in various capacities within the accounting and financial planning departments. He was Delta's treasurer for the past six years and most recently served as director of risk management. Mr. Sanregret is a graduate of the University of Wisconsin. So their CFO looks good. He would know if any monkey business was occuring.

To: Ontherise who wrote (497)	12/27/1997 10:18:00 AM
From: Tom Hofmann	Read Replies (2) \| Respond to of 560

After seeing latest 10-Q: For history on company, the Apr. 15 KSB in informative, starting with the shell company purchasing Newcare in 1994. For Brogodon's involvement, Apr. 15 8K is instructive. Most of his shares were purchased at 1.20 to 1.50. Darrell Tucker has at least 20,000, as well. Book value by my calculation conforms to WSRN.COM site number of almost .32 a share. The interest coverage ratio is of course negative due to loss this quarter. Current ratio improved to .74 vs. .39 due to a restructuring in June of over 30,000,000 in debt to pay off over 20,000,000. This works to the company's advantage in the short term. Of great concern to me is increase in patient care expense to 90% of revenue from 70% last year. Management blames the decline in average facility occupancy rate. Their new purchases, Wakulla and Whigham, look good. Oak Manor, Central Tampa NH, and Victoria Martin, all in FLA, are lowest %.Possible writeoffs here.Accrued employee xpenses and new staff added to expense. 2 of the new hospitals run by contract- option to buy, one bought. Long term plan is understandable- create continuum of care. The poor performance in terms of occupancy rate needs to be addressed. I will be calling company on Mon. now that I know questions to ask. I'll let you know...