Middletown 9/13/2013 6:28:51 AM
News / Stocks

Get a Free Stock Report on United American Healthcare Corp. (UAHC) At LeadingStockAlerts.com

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On September 12th, the stock opened at 0.04, which is higher than their previous close of 0.03. Throughout the day, the stock rose as high as 0.40 and as low as 0.0448. The Company has a volume of 3,605,315, and a market cap of 1.89 million.

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Dated as of September 28, 2009, Pulse Systems, LLC, which is the Registrant United American Healthcare Corp’s wholly-owned subsidiary, is subject to a Loan and Security Agreement, including amendments, with Fifth Third Bank, an Ohio banking corporation by merger with Fifth Third Bank, a Michigan banking corporation.

However, on May 29, 2013, Pulse reported to the Lender it failed to meet a financial promise against capital expenditures in excess of $200,000 between July 1, 2012 and June 20, 2013. According to Pulse, this failure has continued for more than 30 days and constitutes an Event of Default under the Loan Agreement, which may cause the Lender to accelerate the entire amount of the indebtedness owed by Pulse to the Lender. The Company is a guarantor of Pulse's indebtedness to the Lender. As of May 31, 2013, the total amount of indebtedness owed by Pulse to Lender was approximately $1.5 million.

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