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Wednesday, June 29, 2022

Patient Access Solutions, Inc. (OTCMKTS: PASO) Heats Up

Patient Access Solutions, Inc. (OTCMKTS: PASO) has been on a fast rise in recent weeks and emerging as one of the most active stocks in small caps. SInce Microcapdaily first covered PASO when it was just starting to move north off the $0.01 in March PASO has seen recent highs near a dime.

The recent excitement on PASO involves their proposed merger with UST Global and Sirius IQ. Clients of UST Global include Fortune 500 companies in banking and financial services, insurance, healthcare, retail, manufacturing, shipping, technology, semiconductor and telecom. RM stocks have been some of the hottest in small caps in recent years.

Patient Access Solutions, Inc. (OTCMKTS: PASO) bills itself as a Healthcare Solutions company which has created a formidable array of technology, management resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare environment.

On March 6 Microcapdaily reported on PASO:  ts easy to see why investors are excited about PASO; the beefed up bod has been accumulating stock on the open market and the Company does solid revenues and recently reported a net income of $190k for fiscal 2019 on revenues of $2.2 million. They also have little debt, no convertible notes and recently updated shareholders on the previously announced LOI.

The Company has developed and markets the PASHealth Web Portal System. The PASHealth Web Portal System offers electronic medical eligibility, electronic referrals, and service authorizations, electronic claims processing, drug formularies, electronic prescriptions, electronic medical records and patient data, automating the labor intensive and expensive manual process currently used by many facilities and healthcare providers. D-PAS utilizes digital pen & paper, to capture handwritten information for Home Healthcare workers, transfer it into a digital form into the PAS web portal and utilize the data to initiate workflows in a secure environment. A patients’ medical history and patient records are used to initiate necessary work flows within the web portal, securely and much more efficiently, empowering the healthcare business process. In addition, the Web Portal System offers a complete suite of self-pay receivable management solutions for the healthcare facilities. In January 2017 the Company opened up an Integrative Medical Facility in Plainview, New York

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PASO

In February PASO updated shareholders: We will address the topic that is at the top of everyone’s list. During the past month we had hoped to be in a position to announce completion of the Letter of Intent for the previously disclosed merger before the end of January, 2020. There have been several factors that have delayed completion of this step. We would like to assure shareholders that the merger negotiations are in a very active state. The merger candidate partner is represented by a New York, NY based private equity firm with $50 Billion Dollars under management and the deal size has several moving parts that need to be managed to make the entire transaction a success.

Currently, all parties are targeting a close date to take place in Q1 of 2020. We will continue to work diligently with the merger candidate’s representation to meet this time frame. We have supplied all requested and required documents to make this a reality to the benefit of all shareholders. As soon as the Letter of Intent has been executed, we will be updating and submitting all documents to the disclosure section area to meet our material notice requirements followed by a press release to the general public which will identify all transaction participants.

On May 29 PASO filed the merger filing with UST Global and Sirius IQ JV to reverse merge into PASO, “…The Closing shall be on July 15, 2020 or sooner, unless the parties hereto agree to another time.”

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Currently trading at a $69 million market valuation PASO is the latest RM to take the OTCQB by storm. This is a great RM candidate, the beefed up bod has been accumulating stock on the open market and the Company does solid revenues and recently reported a net income of $190k for fiscal 2019 on revenues of $2.2 million. They also have little debt, and no convertible notes. PASO proposed merger with UST Global and Sirius IQ is the driver here. Clients of UST Global include Fortune 500 companies in banking and financial services, insurance, healthcare, retail, manufacturing, shipping, technology, semiconductor and telecom. RM stocks have been some of the hottest in small caps in recent years. We will be updating on PASO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PASO.

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Disclosure: we hold no position in PASO either long or short and we have not been compensated for this article.

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