 | From: Taoteking (Rep: 250) | Date: 2012-01-05 10:55:30 | | Forum: Arcadia Resources, Inc. Common - Thread #673341822 | Msg #189 - Part 1/1 (Rec: 0) | THIS is the reason imho (post from december):
"Huge KADR Filing/Walgreens Buyout...
There are a lot of details that would need to be read and fully uderstood, but below is the KADR 8-K just released that indicates that its pharmacy section has been bought out by Walgreens. Read below...
Quote:
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001140361-11-056395%2Etxt&FilePath=%5C2011%5C12%5C06%5C&CoName=ARCADIA+RESOURCES%2C+INC&FormType=8-K&RcvdDate=12%2F6%2F2011&pdf=
...The Company’s Pharmacy segment, which consists of its PrairieStone subsidiary that operates the DailyMed TM business, has previously been reported by the Company as a discontinued operation. Upon the closing of the APA, the Company will no longer operate a pharmacy business. The Company’s sole remaining operating segment after the closing of the APA will be its Services segment, which consists of the Home Care and Medical Staffing business. ...
...Pursuant to the APA, PrairieStone has agreed to sell substantially all of its operating assets (the “Purchased Assets”) to Medication Adherence Solutions, LLC, a wholly-owned subsidiary of Walgreen Co. (“Purchaser”). ...
It looks like all of the debt/expenses will be removed too from the paragraphs 2.3 and 5.14 within the 8-K info indicated below...
Quote:
2.3 Liabilities to be Assumed. As of the Closing Date, Buyer shall assume all of Company’s obligations arising and accruing after the Effective Time under the Assumed Contracts and Leases set forth on Schedule 5.14(b) and those liabilities of Company as and to the extent specified on Schedule 2.3 (“ Assumed Liabilities ”). ...
...5.14 Contracts. All Contracts and all Leases are listed on Schedule 5.14(a) . All Assumed Contracts and Leases are listed on Schedule 5.14(b) . Each of the Assumed Contracts and Leases require the consent of the applicable third party prior to the consummation by the parties of the transactions contemplated by this Agreement. Company has made available to Buyer during due diligence true and complete copies of all Contracts and all Leases. ...
...The Contracts include all arrangements to which Company is a party which (a) have with expected payments or receipts of more than Five Thousand Dollars ($5,000.00) in any given year, (b) are not terminable on less than thirty one (31) days’ notice, or (c) involve direct or indirect payments to or from physicians or other potential sources of referrals (or Persons owned or controlled, in whole or in part, by physicians or potential sources of referrals, including those in a position to influence referrals). ...
We know from the 4th Qtr Year End Results Conference Call below that their services segment for fiscal 2011 had over $83.3 million in sales, positive cash flow, and positive performance:
http://edg1.vcall.com/2011/06/29/Arcadia_HealthCare-4th_Quarter_2011_Earnings_Results.mp3
As indicated above, it was also mentioned within that Conference Call that the proceeds from this buyout is guaranteed to be large enough to fund the company and pay off all debt. I'm not sure how many millions of dollars this buyout will end up being, but it appears that much more is in the queue to be released to further explain much more. I think KADR is definitely worth learning about to see what will further materialize. " |
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