FLOWER MOUND, Texas, June 24 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. (Pink Sheets: AMHI), http://www.americanhealthchoice.com, a medical services company with medical clinics in Texas and Tennessee, today, in an update for Company shareholders, said its net income for the six months ended March 31, 2008, totaled $32,300.
Net income for the second quarter ended March 31, 2008 totaled $47,300. The Company announced that patient billings from its four company-owned clinics and affiliated clinics totaled $2.5 million for the first six months of the current fiscal year.
Finally, the Company announced that it has reached agreement with its lender and debenture holders on a restructuring that will limit stock dilution. "With this restructuring, AMHI is positioned for future growth," said Dr. J.W. Stucki, Chairman and CEO. The Company said it will make cash payment of $7500 a month for the next 26 months as part of the restructuring.
Dr. Stucki said the Company will update shareholders on its
telemedicine systems and its OmniBody scan in a news release soon.
American HealthChoice, Inc.
Condensed Consolidated Statements of Operations
Six months ended
December March March
2007 Q 2008 Q 2008
Patient billings-Company-owned $1,241,400 $1,215,500 $2,456,900
Provision for discount on billings 696,600 675,900 1,372,500
Net patient billings-Company-owned 544,800 539,600 1,084,400
Net retained affiliated 71,000 71,000 142,000
Net clinic billings 615,800 610,600 1,226,400
|SOURCE American HealthChoice, Inc.|
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