Patient Access Solutions, Inc. (OTCMKTS: PASO) is an exciting little stock that has been on a fast rise even as the overall markets have been in steep decline. PASO has quickly attracted a fast growing shareholder base including some old time speculators that have been very successful in the past.
Its 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.
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.
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
At the end of last year the Company was busy adding board members; Bryan McCalley was added to its Board of Advisors. Most recently, Brian advised SiriusIQ as a project Vice President in their technology partnership with Microsoft and Accenture. The Company also appointed Jon McBride, Chief Technical Officer for Integrated Health Association (IHA) based in San Francisco, CA, and Jarvis Shockey, Senior Vice President for VPay, Inc based in Dallas, TX, to its Board of Advisors effective December 1, 2019.
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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.
At this time, pre-merger operations of Patient Access Solutions, Inc’s annual financials have been submitted and posted accrued sales in excess of $2M as well as confirming its Regulation A Offering as currently non-effective.
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Currently trading at a $7 million market valuation PASO OS is 541 million as of January 29, 2020. PASO is an exciting story developing in small caps – 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 for the previously disclosed merger. 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.