FLOWER MOUND, Texas, June 24 AmericanHealthChoice, Inc. (Pink Sheets: AMHI), http://www.americanhealthchoice.com, amedical services company with medical clinics in Texas and Tennessee, today,in an update for Company shareholders, said its net income for the six monthsended March 31, 2008, totaled $32,300.
Net income for the second quarter ended March 31, 2008 totaled $47,300.The Company announced that patient billings from its four company-ownedclinics and affiliated clinics totaled $2.5 million for the first six monthsof the current fiscal year.
Finally, the Company announced that it has reached agreement with itslender and debenture holders on a restructuring that will limit stockdilution. "With this restructuring, AMHI is positioned for future growth,"said Dr. J.W. Stucki, Chairman and CEO. The Company said it will make cashpayment of $7500 a month for the next 26 months as part of the restructuring.
Dr. Stucki said the Company will update shareholders on its telemedicinesystems and its OmniBody scan in a news release soon.
Safe Harbor Statement: The statements in this release that relate tofuture plans, expectations, events, performance, and the like areforward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actualresults or events could differ materially from those described in theforward-looking statements due to a variety of factors, including those setforth in the company's report on Form 10-KSB for fiscal year 2005 filed withthe Securities and Exchange Commission on January 13, 2006.American HealthChoice, Inc. Condensed Consolidated Statements of Operations (Unaudited) Six months ended December March March 2007 Q 2008 Q 2008 Patient billings-Company-owned $1,241,400 $1,215,500 $2,456,900 Provision for discount on billings 696,600 675,900 1,372,500 Net patient billings-Company-owned 544,800 539,600 1,084,400 Net retained affiliated 71,000 71,000 142,000 Net clinic billings 615,800 610,600 1,226,400 Clinic expenses 450,700 405,900 856,600 Corporate expenses 159,100 136,400 295,500 Total operating expenses 609,800 542,300 1,152,100 Operating income 6,000 68,300 74,300 Other expenses 21,000 21,000 42,000 Net income (loss) $(15,000) $47,300 $32,300 Average common shares outstanding 153,000,000 160,000,000 157,000,000
SOURCE American HealthChoice, Inc.