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Monday, October 18, 2021

Puget Technologies Inc (OTCMKTS: PUGE) Powerful Runner as Co Brings on Seasoned Healthcare Management Professional & Negotiates Major Acquisitions

Puget Technologies Inc (OTCMKTS: PUGE) is making a major move northbound out of the triple zeroes to recent highs near a penny. The stock is quickly gaining traction among small cap investors and starting to attract some big players. Currently under heavy accumulation PUGE is looking to break out of its current trading range and blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension; with recent highs of $0.0095 PUGE is looking for a blue-sky breakout into copper land. 

PUGE has got a lot of investors behind it and it’s easy to see why; the Company has been making big moves bringing on new CEO seasoned healthcare management professional Karen Fordham and executing on every level. The stock is already “Pink Current” and the Company has announced some major acquisitions in the works including Behavioral Centers of South Florida LLC (“BCSF”), an LOI to acquire D & D Rehab Center, Inc., (“D & D”) based in Hialeah, Florida. D & D’s total revenues (unaudited) for the calendar years ended December 31, 2019 and 2020 were $3,595,291 and o $3,635,240, respectively, with profits of $221,252 and $252,242. They are also in negotiations to acquire Florida Behavioral Center, Inc. (“FHS”), and Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company. FHS’s total revenues for the calendar years ended December 31, 2019 and 2020 were approximately $3.9 million and $4.1 million, respectively, and revenues for GMC of Florida for the calendar years ended December 31, 2019 and 2020 were $700,000 and $500,000, respectively.  

Puget Technologies Inc (OTCMKTS: PUGE) operating out of Boca Raton, Florida PUGE aspires to evolve into an innovation-focused holding company operating through a group of subsidiaries and business units that work together to empower ground-breaking companies to reach their next stage of growth. With a strategy that combines acquisitions, strategic investment strategies, and operational support, Puget intends to provide a one-stop shop for growing companies who need access to both capital and growth resources, while enabling Puget and its stockholders to generate synergies and derive profit through pooled resources and shared goals. Puget’s current investment focus ranges from traditional industries like health care that are ripe for business model innovation to new markets that strive to solve big societal problems such as climate change. Publicly traded on the Pink Open Market under the ticker symbol “PUGE”, Puget is committed to delivering a competitive return to investors. 

The Company is making big moves recently bringing on new CEO Karen Fordham. Hermann Burckhardt, who has held the role since 2015, will continue as a member of the Board of Directors as needed. Ms. Fordham’s employment with Puget commenced on August 19, 2021. Ms. Fordham is a highly successful and seasoned healthcare management professional with more than 20 years of diverse experience specializing in operations, service line development, strategic planning, physician recruitment, process improvement, and financial management for large healthcare organizations. Her experience includes managing the behavioral health divisions in various large hospital settings. This expertise is extremely beneficial to Puget as the company drives forward its health care acquisition strategy with the goal of creating integrated health care delivery systems that fuse the needs for behavioral and traditional primary care into one holistic enterprise. 

In August the Company reported it was in negotiations for the acquisition of Behavioral Centers of South Florida LLC (“BCSF”) are progressing in full force. Upon completion of the transaction, which is expected, for regulatory purposes, to be concluded in two stages, BCSF would become the first company to enter Puget’s Pre-IPO Incubator program, which prepares companies for entering the public markets. 

Puget and BCSF anticipate expansion by establishing additional clinics throughout the state of Florida, and through the acquisition of compatible and complementary businesses. BCSF is represented by the Florida firm of Kravitz Talamo & Leyton PLLC, and it is anticipated that following the proposed closing, this law firm will represent Puget in healthcare-related matters, including additional acquisitions. 

On August 11 PUGE announced an LOI to acquire D & D Rehab Center, Inc., (“D & D”) based in Hialeah, Florida. D & D, organized in February of 2010, is a health care provider that provides applied behavior analysis in the home environment to children who have conditions on the autism spectrum, among others. Additionally, through occupational, speech, and physical therapists available at its center, D & D provides rehabilitative services to individuals disabled by disease or injury to help them attain their maximum functional capacity. As proposed, Puget would acquire D & D in two stages, first, a 50% interest in exchange for $1,500,000 in cash equivalents and $1,500,000 in unregistered shares of Puget’s Class B Convertible Preferred Stock. D & D’s total revenues (unaudited) for the calendar years ended December 31, 2019 and 2020 were $3,595,291 and o $3,635,240, respectively, with profits of $221,252 and $252,242. 

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On September 10 PUGE announced it has entered into two additional letters of intent to acquire companies in the healthcare industry. The first, Florida Behavioral Center, Inc. (dba “Florida Healthcare System” and referred to as “FHS”), organized in 2015 and based in Doral, Florida, is a healthcare organization that provides mental health services through an experienced team of psychiatrists, mental health counselors, case managers, and administrative staff. Common mental health concerns treated include anxiety, substance abuse, depression, suicide risk, trauma, bipolar disorder, and attention deficit disorder; and targeted case management services are offered for mental illness in patients of all ages. 

The second, Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company, is the successor in interest to Glades Medical Centers LLC, a Florida limited liability company organized on May 28, 2014 after its entry into a joint venture with Primary Medical Physicians, LLC, also a Florida limited liability company (all collectively referred to as “GMC of Florida”). Its services focus on preventive primary care as well as diagnosis and treatment of illnesses and minor injuries. Additional services include an in-house lab along with specialists including podiatry, allergy, and gynecology. 

In each case, the companies have granted Puget a 90-day exclusive right to negotiate specific terms after it conducts required due diligence and the parties determine the most appropriate valuations and form of acquisition. In both cases, the acquired companies would become consolidated subsidiaries of Puget and would be incorporated into Puget’s healthcare division, along with Behavioral Centers of South Florida, LLC and D & D Rehab Center Inc., in order to generate synergies and attain significant operational savings. FHS’s total revenues for the calendar years ended December 31, 2019 and 2020 were approximately $3.9 million and $4.1 million, respectively, and revenues for GMC of Florida for the calendar years ended December 31, 2019 and 2020 were $700,000 and $500,000, respectively. While it is anticipated that the FHS transaction will involve a traditional acquisition, GMC of Florida is expected to become part of Puget’s incubator program for companies that are interested in potential future spinouts as independent public companies. In both cases, Puget intends to conclude related negotiations on or before November 30, 2021, with closings occurring by December 31, 2021. 

Karen Fordham, President and CEO of Puget, explains, “The addition of Florida Healthcare System and GMC of Florida to our healthcare portfolio will enable us to expand our behavioral health and primary care capabilities, thus advancing our aspirations of creating a holistic healthcare service delivery system.” Ms. Fordham elaborates, “With the ability to offer a broader array of services to their patients under the same roof, both Florida Healthcare Systems and GMC of Florida have the potential for significant revenue growth. We look forward to working with both executive teams to deliver high quality patient service in Florida and beyond.” 

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PUGE is making a major move northbound out of the triple zeroes to recent highs near a penny. The stock is quickly gaining traction among small cap investors and starting to attract some big players. Currently under heavy accumulation PUGE is looking to break out of its current trading range and blaze a path along the likes of Enzolytics or Tesoro and break out into a whole new dimension; with recent highs of $0.0095 PUGE is looking for a blue-sky breakout into copper land. PUGE has got a lot of investors behind it and it’s easy to see why; the Company has been making big moves bringing on new CEO seasoned healthcare management professional Karen Fordham and executing on every level. The stock is already “Pink Current” and the Company has announced some major acquisitions in the works including Behavioral Centers of South Florida LLC (“BCSF”), an LOI to acquire D & D Rehab Center, Inc., (“D & D”) based in Hialeah, Florida. D & D’s total revenues (unaudited) for the calendar years ended December 31, 2019 and 2020 were $3,595,291 and o $3,635,240, respectively, with profits of $221,252 and $252,242. They are also in negotiations to acquire Florida Behavioral Center, Inc. (“FHS”), and Glades Medical Centers of Florida LLC (“GMC of Florida”), a Florida limited liability company. FHS’s total revenues for the calendar years ended December 31, 2019 and 2020 were approximately $3.9 million and $4.1 million, respectively, and revenues for GMC of Florida for the calendar years ended December 31, 2019 and 2020 were $700,000 and $500,000, respectively. We will be updating on PUGE when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with PUGE.

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

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