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$BBAL: There's your PENNY... MORE MORE MORE
Loving this sudden run here.... looks to go to $0.10/sh
Bring in the volume.
Watch her go
There is no Selling... very very thin to the UPSIDE.
Lots of room to run
$BBAL
Ouch! 
Right. There are 3 companies involved in this...transaction. New York Health Care, Inc., The BioBalance Corporation and BioBalance, LLC. Both BioBalance companies are Delaware corporations and NYHC is a New York corporation.
Enterologics (ELGO.OB) is buying the shares of The BioBalance Corporation and it's subsidiary, BioBalance, LLC, neither of which are publicly traded.
You are buying BBAL publicly traded shares which are the shares of NYHC (New York Health Care, Inc.). However, not all is lost if you thought you were buying something else. For one (1) BioBalance was valued @ $628,056. "As reported in the Company’s Form 10-K for the year ended December 31, 2007, the net carrying value of the intellectual property of BioBalance after recording impairment losses was $628,056." and two (2) BBAL (NYHC) was on pace, in 2008, for yearly revenues of ~$50M and NET PROFITS of ~$1M-$3M which was/is $.03-$.09 earnings per share. If you multiply the EPS by a conservative PE ratio of 10 then BBAL (NYHC) could be valued @ $.30-$.90 per share! Then add the one time GAIN from sale of assets (BioBalance subsidiaries) of $.019 ($628,056 / 33,536,767 BBAL shares) to the price per share, prior to sale, and...who knows WHAT you got? lol...
You need to send correspondence to (or find the telephone number of):
New York Health Care, Inc.
1850 McDonald Avenue
Brooklyn, New York 11223
Attention: Mr. Murry Englard, Chief Executive Officer
with a copy to (his attorney at last filing):
Cohen Tauber Spievack & Wagner P.C.
420 Lexington Avenue
Suite 2400
New York, New York 10170
Attention: Adam Stein, Esq.
Yitz Grossman owns the other 33 1/3% of The BioBalance Corporation worth another $314,028. The PR didn't say whether these shares were also being bought but I imagine they are (or Grossman is coming along, to Enterologics, in some other capacity, maybe still 1/3 owner of BioBalance). A good question to ask the CEO of Enterologics, Inc., in my opinion.
Notice that BBAL's revenues grew almost 20%, Q over Q, from 2007 to 2008 and that Net Income went from a loss of $68,150 to a gain of $1,039,434:
Unfortunately, BBAL's (NYHC) balance sheet doesn't look all that good and may explain the drop in BBAL's price per share over the years:
As you can see from the balance sheet, BBAL (NYHC) owes more in liabilities than they own in assets. However, it's "only" an imbalance of ~$2.5M and they will likely receive ~$650,000 (give or take) from Enterologics that can go towards correcting the imbalance (paying off debt, whoever HRA is). Remember, though, that this information is dated by about 2 1/2 years. Call the CEO of BBAL, Murry Englard, and demand information. Not only with this transaction but with BBAL overall. Like...what are projected revenues for 2011? Will there be a profit (net income) for 2011? What happened after 2008, Q2, when they made ONE MILLION DOLLARS in profit? How much debt is left? Why is the trading illiquid (prior to this last PR)? What is the current OS? Did you sell any shares on this PR? lol...etcetera, etcetera...
Most of this data was derived from the last 10-Q filed on 11/14/2008 by New York Health Care, Inc. (BBAL). It is your mission, should you accept, to take this data and turn it into information, lol...
GLTA and good day. 
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Providing a full range of home health care services to the senior, disabled and rehabilitative patients in the greater New York Metropolitan Area, Long Island and Hudson Valley Areas. Does your elderly parent or grandparent need home care, beyond what insurance covers? Perhaps you're not sure what kind of in-home care is needed. When in-home care services aren't fully covered by insurance, New York Health Care is your solution.
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| Established in 1983, New York Health Care, Inc. was formed as a natural outgrowth of the increased demand for at-home health care services. We provide a full range of home health care services to the Senior, Disabled and Rehabilitative patient in the greater New York Metropolitan area, Long Island and Hudson Valley Areas.
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| NEW YORK HEALTH CARE, INC. is licensed by the New York State Department of Health to operate as a Licensed Home Care Services Agency. NYHC makes every effort to anticipate our clients' needs. Our staff is carefully selected and trained to provide a wide range of services that make the patient feel like they are being treated by a family member.
NEW YORK HEALTH CARE PROVIDES:
NYHC PROVIDES CAREGIVERS THAT ARE BILINGUAL IN SPANISH, RUSSIAN, CHINESE, ITALIAN, CREOLE, & POLISH |
| Location Type | Headquarters |
|---|---|
| Annual Sales(Estimated) | 44,399,303 |
| Employees(Estimated) | 1,462 2 |
| SIC Code | 2834, Pharmaceutical Preparations |
| NAICS Code | 325412, Pharmaceutical Preparation Manufacturing |
| Products, Servicesand Brands | Information not found |
| State of Incorporation | New York |
| Years in Business | 27 |
Servicing NY Metropolitan Area Since 1983
