| An SI Board Since June 1996 |
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GYMM |
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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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