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Msg  4 of 8  at  1/16/2007 2:15:01 PM  by

invested1


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Assured Pharmacy (APHY OTC:BB)- owns and operates retail pharmacies that specialize in dispensing controlled pain medication through a materially better prescription fulfillment process. Assureds pharmacies are typically located in low traffic strip malls. They do not sell OTC drugs or other health and beauty aids typically found in drug stores. Their inventory consists solely of prescription pain medications and other prescription medications that their patients will need because of their pain medications side effects. The $1.895 million in Q2 06 sales was 140% above $789,404 year-ago results. The last five quarters have averaged 25% quarter to- quarter growth. The fact that Assured Pharmacy accomplished this rapid growth with the same four pharmacies, two sales reps and no advertising demonstrates that the Company has (1) a successful and aggressive direct marketing plan, (2) increasing demand for its services and, (3) an effective sales force. Additional pharmacy openings, doubling its sales force from two to four reps and other initiatives recently take by the Company should help sustain the companys current rapid growth rate. Therefore, I am projecting a 124% increase in 06 revenues to $8.6 million (from fiscal 05s $3.837 million) and a 135% increase in 07 revenues to $20.2 million. Indisputably, the chronic pain prescription drug market is large, growing and underserved. Assured Pharmacy is now just barely scratching the surface of this large market. Therefore, I believe that this Company could experience significant additional growth over the next 3-5 years.

Over the last five quarters, sales growth has averaged 25% quarter-to-quarter. At Q2s $1,895,000 sales, the four pharmacies averaged $474,000/quarter or $1.9 million/year. A new pharmacy was opened June 21, 06, another is scheduled to open 12/06 and I am projecting four additional new pharmacies in 07. Note that net losses and net income during 2007 are minimal. With a projected 57.8 million shares to be outstanding during Q4 06 and 73.8 million shares to be outstanding during Q3 and Q4 2007, 2007s quarterly net losses and profits are projected to be less than $0.01 per share. Profitability is projected to occur in Q3, 2007.


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