EX-99.1 2 y00583exv99w1.htm EX-99.1: PRESS RELEASE EX-99.1
EXHIBIT 99.1
AMERICAN CLAIMS EVALUATION, INC.
REPORTS SECOND QUARTER RESULTS
JERICHO, NY, November 14, 2008: American Claims Evaluation, Inc. (the “Company”) (NASDAQ:AMCE) announced revenues of $247,690 and a net loss of $52,152, consisting of a loss of $182,144 from continuing operations ($.03 net loss per share) and a gain from discontinued operations of $94,345 ($.02 net earnings per share), for the three months ended September 30, 2008. By comparison, the Company reported a net loss of $87,559 ($.02 net loss per share) for the three months ended September 30, 2007.
As previously announced, on September 12, 2008, the Company acquired all of the issued and outstanding shares of Interactive Therapy Group Consultants, Inc. and also completed the disposition of its wholly-owned subsidiary, RPM Rehabilitation & Associates, Inc. (“RPM”). Accordingly, all results related to RPM have been reflected as discontinued operations.
                                 
    Three Months Ended     Six Months Ended  
    09/30/08     09/30/07     09/30/08     09/30/07  
    (Unaudited)     (Unaudited)  
Revenues
   $ 247,690     $ —     $ 247,690     $ —  
 
                                
Operating loss from continuing operations
     (182,144 )     (177,577 )     (389,255 )     (628,284 )
 
                                
Loss before discontinued operations
     (146,497 )     (87,444 )     (311,809 )     (447,884 )
 
                                
Net loss
   $ (52,152 )   $ (87,559 )   $ (223,292 )   $ (454,448 )
 
                                
Net loss per share:
                                
From continuing operations — basic and diluted
   $ (0.03 )   $ (0.02 )   $ (0.07 )   $ (0.10 )
 
                        
From discontinued operations — basic and diluted
   $ 0.02     $ —     $ 0.02     $ —  
 
                        
 
                                
Weighted average shares — basic and diluted
     4,761,800       4,761,800       4,761,800       4,761,800  
During the six months ended September 30, 2008 and 2007, the Company recognized stock compensation expense totaling $15,600 and $285,000, respectively, based on the fair value of stock options granted under the provisions of Statement of Financial Accounting Standards No. 123R.
American Claims Evaluation, Inc., through its wholly owned subsidiary, Interactive Therapy Group Consultants, Inc., offers a comprehensive range of services to children with developmental delays and disabilities.
For further information contact: Gary J. Knauer, Chief Financial Officer, American Claims Evaluation, Inc., One Jericho Plaza, Jericho, NY 11753; telephone number (516) 938-8000.
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