CXV.v Convalo Health C$.325
Posted: Monday Sep 14 10:56:27AM 2015
Bought a position in Convalo Health. They are US based but listed on the Venture. Consolidating small clinics and rehab facilities for addicts in the US. Many of the facilities are run by former addicts, small Mom and Pop shops that specialize in various phases of recovery. Convalo intends to vertically integrate so they can retain revs from all parts of the treatment cycle.
Raised C$30million at higher prices so stock has fallen from PP levels. Revenues are increasing rapidly due to buying operating clinic. Revs 2.3 million with a tiny profit of $2,642. Has bought several other facilities since 5/15 Q2 report so cash is down but revs will continue up at a rapid pace.
Listen to converence call. CEO is a money guy but very smooth at explaining their philosophy and how they intend to succeed. I'm sure this is how they raised $30 million in a tough market.