Rumor of contract news with Blue Cross Blue Shield on Wednesday. Heard this will be bigest news company has had. The L2's are very thin so please keep a good eye on this for a big move today and tomorrow. Its already running some.
Posted some DD that I found and researched myself. CareAdvantage OTC: CADV Address: 485C Rt 1 South, Iselin, NJ 08830 Phone: (732) 362.5005 Web site: www.careadvantage.com Email: email@example.com
O/S: -46,399,332 Number of shares of Common Stock outstanding as of October 20, 2004
-Insiders hold a total of 43,561,964 shares.
From the 10Q:
Cash and cash equivalents = $2,400,000 or .055/shr. *Does not take into account the 500,000 won in the lawsuit*
Business information: CareAdvantage, Inc. and its direct and indirect subsidiaries, CareAdvantage Health Systems, Inc. and Contemporary HealthCare Management, Inc., are in the business of providing management and health care cost containment services designed to enable health care insurers and other health service organizations to reduce the costs of medical services provided to their subscribers. The Company's management services have been provided to integrated health care delivery systems. It's health care cost containment services have been principally provided to several of the statewide Blue Cross/Blue Shield health service organizations in the Northeastern United States.
Under the Agreement, the Company has granted a license to Kaiser to use the Company's web-based RPNavigator Secure Information Portal (the "Portal"), and Kaiser has engaged the Company to perform certain consulting services for Kaiser. The initial term of the Agreement begins on January 1, 2005 and expires on December 31, 2006. The Agreement automatically renews for successive one-year terms unless either party provides the other with written notice of termination. Until January 1, 2005, the parties are operating under a service agreement dated as of February 9, 2004. On January 1, 2005, the Agreement replaces this prior agreement in its entirety
On September 29, 2004, CareAdvantage, Inc. (the "Company") entered into a Settlement Agreement with Horizon Blue Cross Blue Shield of New Jersey ("Horizon BCBSNJ") resolving all outstanding litigation between the parties.
Under the terms of the Settlement Agreement, Horizon BCBSNJ agreed to (i) pay the Company $500,000 within five days of the execution of the Settlement Agreement, and (ii) to assign and transfer to the Company all right, title and interest in and to all 53,394,820 shares of common stock, par value $.001 per share, of the Company held by Horizon BCBSNJ within five days of the execution of the Settlement Agreement. Horizon BCBSNJ also agreed to procure the resignations of Patrick J. Geraghty and Christine L. Nelson, the two Horizon BCBSNJ-nominated members of the Company's Board of Directors.
About the CEO:
Dennis J. Mouras
President & Chief Executive Officer
Mr. Mouras has had extensive experience in the health plan and managed care industry. Immedi- ately prior to his appointment at CareAdvantage, Mr. Mouras held the position of President of Intra- corp, a well-established but faltering care management organization. While there he successfully transitioned this struggling organization into a $350 Million dollar powerhouse and market leader! Through an aggressive turnaround, revitalization and strategic market repositioning. Prior to intracorp, Mr. Mouras spent twenty years at Cigna Healthcare where he created provider strategic alliances that aptly served all his product lines, developed a Medicare risk program in the Colorado market-place, and led his health plan through two consecutive success- full three year accreditation by NCQA
Posts: 494 | From: Martinez | Registered: Sep 2003
| IP: Logged |
I'm in. Trying to see where this is going. There's another post for CADV also. I know the other post say .2 .. I'm looking for some 05 06 persoanlly.
Posts: 48 | Registered: Jan 2005
| IP: Logged |