FLOWER MOUND, Texas, July 14 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. (BULLETIN BOARD: AMHI) -- (the “Company”) announced today that the Company has completed the issuance of 20,475,000 shares of its common stock to retire its obligations under a convertible debenture dated August 25, 2000, thereby causing the release of a first lien against the Company’s accounts receivable
According to Dr. J. W. Stucki, President and CEO of AMHI, “The final conversion of this debt into equity is a positive step for AMHI Shareholders. The Company now has the ability to better utilize a very significant asset as an integral part of its corporate finance structure. With revenues increasing and net receivables of approximately $6,000,000, we are no longer restricted to equity funding to finance growth and meet working capital requirements.”
While the Company has no specific plans to leverage its receivables at this time, “We are assessing multiple options,” said Dr. Stucki.
About American HealthChoice:
American HealthChoice is a medical services company comprised of a parent company and twenty five owned and affiliated medical clinics in Texas and Louisiana.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company’s report on Form 10-KSB for fiscal year 2003 filed with the Securities and Exchange Commission.
American HealthChoice, Inc.
CONTACT: Investor Relations of Equitilink LLC, +1-877-788-1940, or intl.inquiries, +1-858-824-1940, for American HealthChoice, Inc.
Web site: http://www.americanhealthchoice.com/
