PASO Completes Nine-Month Financial Review by Auditor – Likely Moving to OTC BB
Patient Access Solutions has recently completed its nine-month financial review by its auditing firm. These results have now been posted – we see this as a clear sign of likely movement off of the pink sheets and onto the OTC BB.
We continue to like this story. Movement toward Electronic Medical Records (EMR) is being driven by strong federal government incentives and a growing desire to rein in growing healthcare costs. Most of the EMR systems out on the market are designed for large physician practices and hospital environments. The PASO product is specifically designed to target the underserved market for smaller physician practices – typically those with one to five doctors. The company is now offering the product to this community.
PASO has also recently made the announcement of an exclusive distributorship for an innovative “electronic pen” application that enables home health care workers to simply make entries with a pen and paper and have this information automatically downloaded to computerized databases. Considering the home health care market is valued at approximately $55 billion per year, we feel PASO’s opportunities relative to this area are vast.
With the financial review by the auditor out of the way and results posted, the way he is cleared for the company to become fully reporting. We would expect the next likely step to be the filing the paperwork with brokerage firms and regulators to move the trading of the stock to the over-the-counter market.
We have been very pleased with the return since our initial recommendation at $0.035 with shares hitting a new 52-week high yesterday at over . Considering the vast opportunities for the company and likely movement to the OTC BB, we believe there is additional upside to these shares. Congrats to all the longs in PASO – Joe Noel
