posted
Their revenue is growing. Quarterly revenue growth 379.60% (according to yahoo.com) If you look at the balance sheet, their cash almost cover all of the total liabilities.
The stock made new high on:
- October 15, 2007 at 72 cents because Amacore receives $3M from sale of convertible preferred stock to Vicis Capital Master Fund. CEO of The Amacore Group said, “This $3 million will go into capital for acquisitions and the expansion of our existing business both through increased sales efforts and development of new product offerings." He added, "Our mission is to provide access to affordable healthcare for the 47 million Americans who are currently uninsured. We believe that discount programs and healthcare packages such as those The Amacore Group offers are the future of US healthcare. While the politicians and lobbyists argue over how to fix what is a broken system, we are offering something right now to make quality healthcare more affordable for all Americans.” Complete news: http://biz.yahoo.com/bw/071015/20071015005040.html?.v=2
- October 11, 2007 at 65 cents because The Amacore Group, Inc. acquires Lifeguard Benefit Services, Inc. This acquisition will give Amacore new distribution channels, revenue stream, and professional staff. Lifeguard generated $4.3 million in revenue and was profitable in 2006. Revenues for 2007 are projected to be approximately $12 million and on track for another profitable year. Complete news: http://biz.yahoo.com/bw/071010/20071010005893.html?.v=1
- Older news: on August 29, 2007 The Amacore Group Acquires New Jersey-Based JRM Benefits Consultants LLC in Stock Purchase Agreement. JRM Benefits Consultants, LLC operates a 10-seat call center. This is the first call center entirely controlled by Amacore Group, and it will be dedicated to selling Amacore's products beginning with term life insurance and then integrating additional Amacore healthcare programs. Complete news: http://biz.yahoo.com/bw/070829/20070829005154.html?.v=1
About The Amacore Group, Inc.:
Amacore offers health insurance, life insurance, limited medical coverage, and health savings programs designed to provide consumers with a broad array of product offerings. Amacore creates and provides innovative, affordable, healthcare solutions for individuals and families. With a consumer-focused reputation built on innovation, Amacore is dedicated to providing an array of products unique in the industry today. Amacore offers a business partner model that leverages development innovation with technology that creates a partner approach that is industry-leading, supportive, and cutting edge.
Average volume (3 months): 165,223 Market cap: 72.92 M Shares outstanding: 121.54 M Float: 89.12 M
The Amacore Group, Inc. 1211 North Westshore Boulevard Suite 512 Tampa, FL 33607 United States - Map Phone: 813-289-5552 Fax: 813-289-5553 Web Site: http://www.amacoregroup.comPosts: 51 | Registered: Feb 2007
| IP: Logged |
posted
The Amacore Group, Inc. Receives Additional $3 Million from Sale of Convertible Preferred Stock to Vicis Capital Master Fund Tuesday January 22, 8:00 am ET
Funds To Be Used For Acquisitions, Expansion Of Existing Business LAKE MARY, Fla.--(BUSINESS WIRE)--The Amacore Group, Inc., (OTC BB: ACGI - News), a leader in providing health-related membership benefit programs, insurance programs, and other innovative and high-quality solutions to individuals and families across the country, today announced that Vicis Capital Master Fund has further expanded its investment in The Amacore Group by purchasing additional shares of the Company's convertible preferred stock for $3.0 million, convertible at a peg price of $5. This follows a similar investment made in October.
Clark A. Marcus, CEO of The Amacore Group, said, “This infusion of capital is yet another vote of confidence in Amacore by Vicis. In the last few months, we have added additional distribution channels, provider networks, new products and acquired Texas-based LifeGuard Benefit Services, Inc., which provides insured and non-insured health benefits along with its services to over 1.5 million families.”
He added, “Amacore’s plans for 2008 are to continue with this growth both organically and by acquisition where appropriate. In 2007, we put the machinery in place for a breakthrough year in 2008. That breakthrough became visible in the last quarter of 2007, and we expect it to expand rapidly in 2008.
Shad Stastney, a partner of Vicis Capital, stated, "Amacore’s growth is proceeding very rapidly, and we are very pleased with their progress. We are making this investment in the company to further demonstrate our commitment to their innovative and comprehensive approach to the healthcare marketplace.
With the additional capital provided Amacore can virtually expand at will and acquire opportunities that present themselves. America’s healthcare system is broken, and Amacore is one of the few entities with a solution that is available right now, that doesn’t need approval from Washington and that everyone can afford. We are extremely confident of great things from Amacore in 2008.”
About Vicis Capital, LLC
Vicis Capital, LLC is the investment advisor to Vicis Capital Master Fund, a multi-strategy hedge fund. Vicis Capital, LLC is based in New York, NY.
About The Amacore Group, Inc.
The Amacore Group, Inc. (www.amacoregroup.com) offers innovative and affordable healthcare solutions to families, individuals, small and large employer groups, and association markets through a wide array of unique products, benefits and services created for the consumer driven healthcare market. The Company also offers a unique and proprietary administrative system that supports call center management, agent distribution and affinity marketing for all levels of product delivery and reporting. Amacore has created several limited medical programs that include its new Diamond Series and Discount Medical programs, featuring Smarthealth Plus and Smarthealth Premier, which expand the Company's offerings beyond its very successful eye care program, Eye Care International (www.ecivisionplan.com). These new programs offer discounts on quality hearing, dental, vision and doctor visits, among other benefits. Amacore is aggressively signing distribution and sales contracts with marketing companies to offer these programs nationwide. Through its wholly-owned subsidiary, LifeGuard Benefit Solutions, Inc., Amacore now has the ability to provide administrative and back-office services to other healthcare companies in addition to expanding its own call center capability through its wholly-owned subsidiary, JRM Benefits Consultants, LLC.
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, our ability to achieve a break through year, financial condition, future acquisitions, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," “will,” "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the Company’s Annual Report of Form 10-KSB for the year ended December 31, 2006 filed with the Securities and Exchange Commission, not all of which are known to the Company. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
Contact:
The Amacore Group, Inc. Jay Shafer, President or Porter, LeVay & Rose, Inc. Linda Decker, VP – Investor Relations Bill Gordon, SVP – Media Relations 212-564-4700
Source: The Amacore Group, Inc. The Amacore Group, Inc. Receives Additional $3 Million from Sale of Convertible Preferred Stock to Vicis Capital Master FundThe Amacore Group, Inc. Receives Additional $3 Million from Sale of Convertible Preferred Stock to Vicis Capital Master FundPosts: 51 | Registered: Feb 2007
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
