Latest financial report- The harbinger is knocking

I would like to direct your attention to the page 104, executive compensation. Also, take note of the expected revenue loss and cost of doing business figures.

http://www.sec.gov/Archives/edgar/data/1367832/000156459014000983/audh-10k_20131231.htm

 

In summary 300 million in debt. Wow we are toast!!

 

Couldn't happen to a better group of a-holes.

 

Here is where the meat of the story is told- " $37.8 million available under the Revolver and were in compliance with all loan covenants. For the period from January 1, 2014 through March 23, 2014, we have borrowed a net additional $10.7 million under our revolving credit facility to fund seasonal working capital requirements and, as of March 23, 2014, $27.1 million was available under our revolving credit facility."

Borrowing from your credit line for working capital is not the way to success and will lead you to bankruptcy. ADX borrowed 10m just to pay bills for the first Q of 2014. And only have 27m left? How many more months can you borrow before you cant pay your bills and default on loans and payroll? Lets see, 10m for the first quarter and 30 mil left means only 3 more quarters. BK this summer?

 

Forgot to mention, only 1.4 mil in cash? Running things a little tight there. Does anyone care that DC the new CEO gets paid 1.2m for last year and the old CEO's were only paid about 400K? Not to mention, where is he?

 

I know I am looking for a job everyday. This place will be gone shortly. and actually..I cannot wait

 

LIE!

 

MN should have been fired long ago as well as half of this management team. Keeping the same losers in place was an issue for DC. That team did not perform and should have been fired long ago

 

MN may be not the best, however, the current difficulty is industry wide.

 

Let's not forget GD in south Florida still pushing in office revenue models, what a clown!! People like him are why this industry is in the can. Fire FG and GD in Florida!!

 

So you are saying that ADX's current situation is because of the "industry?" You don't read the financial statements do you?

 

No I get it. He pushed and is still pushing in office revenue models. Doctors liked the money and decided to open their own labs BC of the revenue stream. Revenue models led to POL'S, POL's led to practices doing massive amount of biopsies and over staining hence the government getting pissed. Good job GD you clown.

 

You guys give too much credit to a person such as MN or GD. Name another lab in the field that is not suffering? All pathology groups are suffering 20-40% in net income.

Most of guys here are pip-squeaks without understanding of macro forces in this business. This business was a 30 year long fad and now the game is over.

In short term (less than 10 years) the investors will lose most of their money. Long term, it is still a viable business, as part of another larger organization.

 

You guys all are hurting beyond repair. Just hang it up already. Stop wasting your money and making subpar promises to clients.

 

This is not a coincident

http://www.god.tv/gods-news-behind-the-news/video/30th-international-prophecy-conference/jonathan-cahn-and-the-continuing-harbingers

 

What are the specific issues in MN? Anyone know?

 

he is too good looking and charming.

 

He is also too tall

 

LOL….now that is funny!

 

I have heard we are losing a big insurance company at the end of June. This is going to be the final nail in our coffin unfortunately. I also heard it's not just us losing it, another capitation scenario or something similar.
RIP