Overview
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Research, Report & Profiling Services
by IPOdesktop.com
Forterus, Inc. (FTER.PK)
Stock symbol: FTER.PK
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Common shares: 9/30/09: 13.5mm
Stock price 12/3/09: $0.05
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..Float 5mm
52-week price range: $ 003 - $.10
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.Equity market capitalization: $675,000mm |
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Recent News
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..SEC Filings |
CEO Interview, Dec 4
(click to listen while you read this report) |
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BUSINESS |
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Provides a variety of healthcare services, including behavioral healthcare, intervention services, drug and alcohol rehabilitation, pain management and physical therapy. |
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Forterus Plans Strategic Expansion in 2010, Nov 9 read more |
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BUSINESS OUTLOOK |
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Operating at full capacity with continued growth in demand for its services, Forterus Healthcare believes it is currently within striking distance of industry leaders such as Cornerstone and Pacific Health. |
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While it is common practice for larger residential treatment centers to feed and house their clients in multiple facilities, greater economies of scale can be achieved when food and lodging can be provided at the treatment center itself. |
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There is considerable opportunity for Forterus Healthcare to become the market leader for affordable, accredited private residential addiction treatment services in Southern California because of the fragmented nature of the addiction treatment industry. |
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TARGET MARKET |
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The underserved middle class market with private addiction treatment services that are both affordable and accredited to meet the highest national standards. |
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A BETTER TOMORROW |
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A Better Tomorrow draws most of its clients from inland areas of Southern California, primarily in Riverside County |
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Founded in 2004 with $75,000 in working capital, A Better Tomorrow has achieved annual growth rates of 33.7% to 48.9% and established itself as an emerging market leader at its price point in the Southern California market with 40 residential treatment beds at two facilities in Murrieta. |
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Initially providing 28-day residential drug and alcohol treatment, |
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A Better Tomorrow has since added additional services in response to market demand. These include: |
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Gambling treatment (2006). |
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Professional intervention services, which are available on a nationwide basis (2006). |
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A pain management program to help individuals who are addicted to prescription painkillers (2006). |
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An outpatient treatment program |
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Can accommodate individuals who need follow up therapy as well as individuals whose addictive behaviors have not yet reached the point of requiring a 28-day, residential treatment program (2007). |
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A separate adolescent treatment program, in which youths are treated separately from adults (2008). |
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Spanish-language treatment services (2008). |
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MEET THE STAFF (click) |
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2009 Quarterly Progression |
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March |
June |
Sept |
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Services Revenue |
$1,400,000 |
$1,353,000 |
$2,298,800 |
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Write-offs & refunds |
$484,000 |
$119,000 |
$882,000 |
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Net services revenue |
$916,000 |
$1,234,000 |
$1,416,800 |
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Pre-tax income |
$34,100 |
$42,725 |
$47,438 |
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Pre-tax profit margin |
2.4% |
3.5% |
3.3% |
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Address : 412 Olive Ave., Suite 263, Huntington Beach, CA 92648
Telephone: 951-837-2400
CEO: Paul Howarth
Web Site: http://www.abttc.com
State or other jurisdiction of incorporation or organization: Nevada
Transfer Agent: Corporate Stock Transfer, Inc.
Investor contact:: ir@forterus.com |
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MANAGEMENT & DIRECTORS |
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Paul Howarth
Mr. Howarth is President, Chief Executive Officer and Director of Forterus, Inc. After graduating from Seton Hall University with a BA degree, he continued his graduate studies at Seton Hall University accepting a scholarship from the state of New Jersey. His area of study in graduate school was education and administration. Mr. Howarth previously worked as production manager for Western Home Mortgage Corp. Mr. Howarth then was recruited by Home Loan Center "HLC" (HomeLoanCenter.com) where he was promoted several times to the level of Director of Production and became a share holder of the Company. Mr. Howarth was responsible for 13 sales managers and over 150 sales staff. HLC was later sold to Lending Tree.com and Mr. Howarth was recruited by Bear Stearns & CO. (Bear Stearns.com, Beardirect.net) Bear Stearns Residential Mortgage Corp. "Bear Res." is Mr. Howarth's third successful start up in 10 years. Between HLC and Bear Res., Mr. Howarth has helped cultivate on average $500,000,000 per month in funded loan volume. Mr. Howarth was promoted several times with in Bear Stearns escalating to SVP. of Correspondent Lending. Mr. Howarth is also co-founder and co. owner of A Better Tomorrow Inc, (ABTTC.com)a Drug and Alcohol treatment center in Riverside, CA. |
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Jerrod Menz
Business Development, B.S., CCGC, CADCA |
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Mr. Menz has has over 10 years of experience working in the field of Addiction and Co-Occurring Disorders. As one of the co-founders of A Better Tomorrow, he is always traveling to various conferences and conventions across the United States. He brings the latest evidence-based treatment modalities and incorporates the innovative methods into the program. This in turn, brings the best of care to the clients and family members of all those involved. |
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Jim Fent
Therapist, A Better Tomorrow MFT |
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Program Administrator |
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Jim Fent has worked in the medical field for the past 20 years. With a special interest in chronic pain and disability, he has a familiarity with dealing with those who have abused pain medication while going through pain management. As a unique addition to the Treatment Team, Jim gets across to the addict and alcoholic who hide behind the facade of abusing prescriptions. A licensed physical therapist and a Director of Physical Therapy, Jim is invaluable when making decisions on what course of action to take regarding clients in denial and using pain as an excuse. |
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Wade J. Mezey
Mr. Mezey is a Director of Forterus, Inc. He was Chief Executive Officer and Secretary of the company. Mr. Mezey was previously the President/COO of NAPP Tour, Inc. From 2004 - 2005, Mr. Mezey was the Chief Legal Officer and Interim Chief Accounting Officer of College Partnership, Inc. While at College Partnership Mr. Mezey worked with the auditors and finance department to create a system of accounting control and procedures. From 2003 - 2004, Mr. Mezey worked for Vision Direct Marketing as its Vice-President of Operations and General Counsel. From 2002 - 2003, Mr. Mezey worked as an attorney in Washington D.C. Mr. Mezey graduated from Georgetown University Law Center with an LL.M. in Securities and Financial Regulation. Mr. Mezey received his J.D., with cum laude honors, from New England School of Law and his B.S. from Virginia Commonwealth University. |
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Jeff Walton
Mr. Jeff Walton is Director of Forterus Inc. He is former President, CEO and Senior Managing Director of Bear Stearns Residential Mortgage Corporation. |
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IPOdesktop (ID) SAFE HARBOR STATEMENT: Statements contained in this document, including those pertaining to estimates and related plans, potential mergers and acquisitions, estimates, growth, establishing new markets, expansion into new markets and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. ID provides no assurance as to the subject company's plans or ability to effect any planned and/or proposed actions. ID has no first-hand knowledge of management and therefore cannot comment on its capabilities, intent, resources, nor experience and makes no attempt to do so. Statistical information, dollar amounts, and market size data was provided by the subject company or its agent and related sources believed by ID to be reliable, but ID provides no assurance, and none is given, as to the accuracy and completeness of this information. |
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DISCLAIMER: The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. Past performance is no guarantee of future results. This report is a paid advertisement and is for information purposes only and should not be used as the basis for any investment decision. ID has been compensated up to eight thousand five hundred dollars from a third party or the company for preparation and posting of this report, audio interview, virtual road show and other advertising services. This constitutes a conflict of interest as to IDs ability to remain objective in its communication regarding the subject company. Analysts, principals, associates and employees of ID do not own or trade equities under coverage. For detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934 contact IPOdesktop, 11693 San Vicente Blvd., #350, Los Angeles, CA 90049. ID is not an investment advisor and this report is not investment advice. This information is neither a solicitation to buy nor an offer to sell securities but is a paid advertisement. Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results. The opinions contained herein reflect our current judgment and are subject to change without notice. We encourage our readers to invest carefully and read the investor information available at the web sites of the U.S. Securities and Exchange Commission (SEC) at http://www.sec.gov and the National Association of Securities Dealers (NASD) at http://www.nasd.com. The NASD has published information on how to invest carefully at its web site. Readers can review all public filings by companies at the SEC's EDGAR page. |
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