Quantum Medical Transport Inc (OTCMKTS:DRWN) shares are down 18.18% to $0.00090 and flat in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.00. The company has a market cap of $891,540.00 at 20.53 million shares outstanding.
Quantum Medical Transport Inc is a non-emergency medical services transportation company that operates in the State of Texas. It provides life support ground transport in a non-emergency setting, 24 hours a day, and seven days a week. The company makes both local and regional out-of-town services available on a daily dispatch basis.
Its services include transportation for the handicapped, disabled, mentally retarded, elderly and chronically ill to and from day treatment centers, day care programs, hospitals, nursing homes, dialysis centers, and other health care facilities. The company’s services also include emergency and non-emergency ambulance transportation services, including limited 911 emergency services for patients.
In a press release, Quantum Medical Transport Inc announced that it is offering a private placement of its common shares with a registration rights agreement to institutional and accredited investors via prospectus only pursuant to SEC Rule 506(c).
It plans on utilizing the funds from the sale to pursue its business plan, particularly its acquisition targets and assets. To do so, it needs to raise $3,000,000 and may seek subsequent rounds of additional financing as the need arises. More details on its business plan can be found on the company website. It has also retained the audit firm MaloneBailey, LLP to conduct its financial audit and will file an S-1 immediately following the audit to become fully reporting and tier change with OTC Markets.
The founder of Quantum Medical Transport Inc expects that the business will aggressively grow during the next three years of operation as a public company. To achieve this, it will implement marketing campaigns that will effectively target individuals within the target market. Among its objectives are expanding relationships with hospitals and 911 call centers within the targeted market and with nursing homes, out patient facilities, assisted living facilities, and other healthcare businesses that have non-emergency ambulatory transportation needs.
In terms of pricing, management projects that the business will generate approximately $700 per trip in each emergency ambulatory service and for non-emergency ambulatory care, Management anticipates that each patient will pay $25- $100 for transportation to a medical facility. These are the assumptions used in making financial projections included in their business plan.
Management estimates around $400,000 to $700,000 in operational budget from 2017 to 2019 and anticipates hiring 16 personnel by the end of this period. Its goal is to receive its revenues directly from subcontracting with NEMT brokers, private insurance companies and publicly funded health systems, which will ensure the company’s profitability and cash flow on a monthly basis.
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