In our last review of NEW WAVE HLDG INC COM USD0.001 (OTCMKTS:NWAV) we reported on the Company’s opening of Alternative Medicine Centers of America clinics in various states where medical marijuana is legal. The planned openings are moving along according to schedule, and revenues are beginning to flow from the new clinics.
For those not familiar with the company, New Wave Holdings, Inc. (NWAV) is a publicly traded holdings company dedicated to the development and launch of PAO Group alternative medicine clinics focused on ‘non-traditional’ patient care solutions. The realm of treatment solutions include cannabis, acupuncture, chiropractic, biofeedback, and other solutions depending upon patient needs. NWAV recently merged with PAO Group, Inc., a physicians practice management company actively developing alternative medicine clinics focused on the proper use of cannabis for treatment of chronic and terminal patients.
New Wave Holdings, Inc. continues its expansion strategy. On Jun 26, 2017, the Company announce the launch of two new Corporate locations for its Alternative Medicine Centers of America. The new locations will open in Toledo and Dayton, Ohio. An in-house psychiatrist will help assist with properly diagnosing PTSD patients at the Dayton location. The Parma and Toledo locations will feature a full suite of therapeutic services as part of an overall expansion initiative by PAO Group. Clinic offerings will include proper use of cannabis for treatment of chronic and terminal patients, massage therapy, anti-aging treatments and hormone replacement therapy (HRT). CEO Robert Weber commented:
“We are thrilled with continued development of relationships in the medical community for our clinics. This is just the beginning and everyone on our team is thrilled at the rate of growth in this first year. We intend to continue innovating as we expand to ensure we provide a comprehensive package of therapies, treatments and products including health education, lifestyle coaching, and naturopathic medicine essential to an individual’s successful achievement of personal wellness.”
The Parma location will begin taking appointments in the beginning of July 2017 and the Company’s St. Augustine, Florida location is waiting on finalization for licensing and inspection.
In a shareholder conference call on May 10, 2017, Company execs announced that the Company is in the process of changing its ticker symbol for the purpose of re-branding the public entity. This is an ongoing process with FINRA as NWAV has an extensive corporate history that precedes current management. The Company has hired an SEC attorney to help expedite the process and anticipates ticker change to be approved and effective.
The conference call also commented on the legislative front, currently in Florida there is a 90 day exclusion period under discussion under which new patients must wait 90 days to receive their medical card, but does not affect PAO/Alt Med Centers ability to conduct business. Company doctors are still able to write recommendations for patients and the Company’s open facilities have an existing patient base that is actively served. If legislation passes to eliminate the 90 day barrier, it only helps the Company, but not passing it does not affect the ability to conduct business according to the Company’s model and goals therein.
On the financial front, the company announce that they have released Q1 Financials for 2017 which show the Company generating revenues from the Alternative Medicine Centers in only the first 6 months of operations. Although the revenues reported are small in scale, they are revenues none the less. If there is growth in revenue in the next quarterly financial report, that will be a significant indicator that the Company is moving in the right direction.
NWAV stock has been trading upward since 6/13/17 when it dipped down to $.0034. It made an upward move to $.01. The stock is currently trading at $.0090. Current market capitalization stands at $4.96 million, on 605.18 million shares outstanding as of June 27, 2017.
The release of the next quarterly financials will tell the story for New Wave Holdings, Inc. If decent revenue growth is reported, then the stock will become a great deal more appealing to investors. Be sure to check out our complete coverage on NWAV. We will be updating our subscribers as soon as we know more. For the latest updates on NWAV, sign up below!
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Disclosure: We have no position in NWAV and have not been compensated for this article.