OTC Bulletin Board
S & P Company Insight for AMHN, INC. |
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Profile
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| Business Summary: AMHN, Inc. owns America's Minority Health Network, Inc., a place-based provider of digital video education for medical practices that primarily serve minorities. | | | Address 100 North First Street, Suite 104
Burbank
, CA 91502
Phone: 424-239-6781
Website: http://www.amhntv.com
| | Auditor |
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KBL, LLP
| | Transfer Agent |
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Computershare Trust Co., Inc.
| Employees: 6 ShareHolders: 587 | Founded: 1907 Domicile: Utah | | | |
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Background
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| AMHN, Inc. owns America's Minority Health Network, Inc., a place-based provider of digital video education for medical practices that primarily serve minorities. The company acquired America's Minority Health Network in July 2009. Prior to the acquisition, AMHN, Inc. had no business operations or revenue source.
According to AMHN, Inc., research has shown that due to socioeconomic and sociopolitical issues, African-Americans suffer from exceptionally high mortality and morbidity rates. Lack of proper healthcare education has been cited as one of the factors leading to higher health risks for the African-American community. The company's subsidiary provides a digital platform to increase African-American health education awareness which AMHN, Inc. believes can increase the longevity and well-being of African-American men and women, while providing relevant advertising of related products.
The company's subsidiary has created a solution to meet the needs of physicians who are searching for ways to better inform their patients and for advertisers that are searching for ad space to communicate specific products to African-Americans.
America's Minority Health Network provides direct-to-consumer television programming across the United States to subscribing medical offices with a predominantly African-American patient base. As of April 2010, 160 offices had subscribed to the service with 140 offices live and receiving programming. AMHN, Inc.'s rollout plan calls for 1,000 subscribing locations in the company's first phase.
Each month, updated healthcare segments and relevant advertising are digitally delivered in high definition directly to waiting rooms filled with a well-defined African-American target audience. Medical office waiting rooms provide a captive audience with the typical presence of approximately 1,000 patients per month per location, where viewers are predisposed to watch and listen to the pertinent information offered.
AMHN, Inc. is headquartered in Burbank, California. | | History: INCORPORATED in Utah in 1907 as Croff Mining Company; name changed to Croff Oil Company in 1952, to Croff Enterprises, Inc. in 1996, and to AMHN, Inc. Sept. 15, 2009. On July 27, 2009, the company acquired America's Minority Health Network, Inc. for 13,693,689 Common shares.
America's Minority Health Network, Inc. was incorporated in Delaware in April 2009. | | | | Subsidiaries: |
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America's Minority Health Network, Inc.
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Management
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Management
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| Officers | Position |
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| Robert Cambridge | Chairman, Secretary, Chief Financial Officer & Chief Executive Officer | | Charles V. Richardson | President | | Chris Camarra | Investor Relations Contact |
| | Directors |
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| Robert Cambridge | | Andrew Golden | | Charles V. Richardson | | Kimberly Sarubbi | | | |
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Annual Report
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| Annual Report |
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| | | Income Statement | |
| 2009 |
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| Operating Revenues | 10,569 | | Cost of Revenue | - | | Operating expenses: |
| | Operating costs | 43,152 | | General and administration | 1,318,478 | | Sales and marketing | 218,421 | | Depreciation and amortization | 76,203 | | Operating loss | (1,645,685) | | Interest expense | (8,856) | | Net income | (1,654,541) | | Basic and diluted EPS | (0.23) |
| | | | Balance Sheet | |
| 2009 |
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| Assets: |
| | Current Assets: |
| | Cash & equiv. | 42,066 | | Accounts receivable | 10,568 | | Prepaid expenses and other current assets | 17,238 | | Total current assets | 69,872 | | Fixed assets | 382,760 | | Other assets | 397,133 | | Total assets | 849,765 | | Liabilities: |
| | Accounts payable | 229,044 | | Accrued expenses | 331,073 | | Promissory notes payable | 600,000 | | Other liabilities | 700 | | Tot. curr. liabs. | 1,160,817 | | Common stock | 1,579,021 | | Com. stk. p.$0.10 | (1,890,073) | | Total stockholders equity | (311,052) | | Total liabs. | 849,765 |
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* Effective July 27, 2009, Croff Enterprises, Inc., acquired 100% of the issued and outstanding shares of America's Minority Health Network in exchange for the issuance of an aggregate of 13,693,689 shares of Croff Common Stock. For accounting purposes, the transaction was treated as a reverse merger, with Croff being the surviving parent corporation, and America's Minority Health Network it's wholly owned subsidiary. On September 14, 2009, the company changed its name to AMHN, Inc. Above financial statements represent the operations & accounts of Croff Enterprises, Inc.
The following financials statements are those of America's Minority Health Network at May 31 '09. | | | |
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Interim Report
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| Interim Report
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| | | Data Not Available | | | | | | | | | |
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Pro Forma Report
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| Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
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Quarterly Report
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| Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
Full Year
| 10,000 |
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| Year | Quarter | Revenue | | 2010 |
2 | (490,000) | | 2009 |
Full Year
| (2,210,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | (.09) | | 2010 |
2 | (.04) | | 2009 |
Full Year
| (.30) |
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Stock Data
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| | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.001 par | 1,000,000 | None | | Common $0.10 par | 50,000,000 | 15,790,209 |
| | | | LONG TERM DEBT: None. | | | | Common $0.10 par | | | |
Stockholders:
03/17/2010,
587.
| | PRINCIPAL STOCKHOLDERS: April 6, 2010, Kimberly Sarubbi owned or controlled 26.0% of the Common, Robin Tjon 26.0% and Sky Kelley 21.7%. | | | |
Transfer Agent: Computershare Trust Co., Inc.
Golden
, CO | | | | OTC Bulletin Board( Primary): AMHN | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 1.5500 | 0.1700 | | OTC Bulletin Board | 2008 | 3.9000 | 0.5100 | | OTC Bulletin Board | 2007 | 3.5000 | 1.0100 | | OTC Bulletin Board | 2006 | 3.0000 | 1.4000 |
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| | | | RECENT DIVIDENDS: Common $0.10 par: 2008, $0.40; 2009, None.
Common split 3-for-1, ex-July 27, 2009. | | | | | |
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