PAO GROUP INC COM USD0.001 (OTCMKTS:PAOG) is a penny stock that was so recently a sub-penny player. PAOG has started to draw some eyes as it bounces up the chart. The company’s principal recent catalyst is its pivot into the medical marijuana space. Management just announced that FINRA has approved its name and ticker change.
According to the release, the company, formerly known as New Wave Holdings, will be updating all branding on social media and otherwise to reflect the PAO Group and its Alternative Medicine Centers of America Brands. The company has also finalized its previously announced Agreement with the Physicians Group to staff Toledo, Dayton and Parma/Cleveland locations and is in discussions for an LOI to contract the same group for two additional Corporate locations in Florida.
PAO GROUP INC COM USD0.001 (OTCMKTS:PAOG) trumpets itself as a holdings company dedicated to development and launch of 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.
According to company materials, “Alternative Medicine Centers of America provides health education, lifestyle coaching, and naturopathic medicine essential to an individual’s successful achievement of personal wellness. Our success comes from providing patients with safe and confidential access to quality alternative healthcare while providing them with the most professional support systems available. Alternative Medicine Centers of America provides the community and patient with the most current, innovative and dynamic wellness information and services possible. Alternative Medicine Centers of America brings to light personal wellness potential for patients and facilitates their journey to harmonious fitness.”
And a very clear statement about the company’s approach going forward is given on their website:
“PAO Group’s alternative medicine clinics are focused on ‘non-traditional’ patient care solutions. And yes, cannabis will be included in the realm of treatment solutions as well as other alternative solutions such as acupuncture, chiropractic, biofeedback, and other solutions depending upon patient needs.
Our nation is suffering an unprecedented opioid epidemic with addictions and overdoses taking the place of cures. The abuse of and addiction to opioids such as heroin, morphine, and prescription pain relievers is a serious problem that affects the health, social, and economic welfare of all societies. PAO Group is well-positioned to fulfill a dire need by providing efficacious solutions to patients as an alternative measure to the pitfalls of opiate-based care.”
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As noted above, with PAOG, we are dealing with a pivot into one of the fastest growth areas of the new economy.
CEO Robert Weber has also confirmed that, “We have launched construction on the Company’s Toledo location with Dayton starting soon after. As well, the Cleveland/Parma location will be opening and accepting appointments the week of July 17th.”
“We are thrilled with our progress to date. We now have corporate locations in Ohio and Florida, and working towards building a nationwide brand, and have secured strategic partnerships that we are confident will expedite additional growth in Q3 and beyond. We will be releasing our Q2 financials by end of next week and I am confident that shareholders will be extremely pleased with results. The potential from here is incredible and we have much to announce in the coming weeks accordingly.”
Recent action has seen a bit more than 230% piled on for shareholders of the listing during the trailing month. This is emblematic of the stock. PAOG is a stock whose past is littered with sudden rips. In addition, the listing has registered increased average transaction volume recently, with the past month seeing 23% over what the stock has registered over the longer term.
At this time, carrying a capital value in the market of $9M, PAOG has about $86k in reported cash on the books, which compares with about $2M total current liabilities. Obviously, not the greatest balance sheet situation. The company did just start booking some revenues, though the total is minimal as of yet. We will update the story again soon as developments transpire. For continuing coverage on shares of $PAOG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $PAOG, either long or short, and we have not been compensated for this article.