STOCK CALL: AHS

Expected Fy07 Profit at approx 13-14million

EPS = 13 000 000 / 102 000 000 = 12 cps
Value company at = 12 *14.5 = $1.80 - minus 15% for huge debt of $85million = $1.50
Prospective PE Ratio is 95cents / 12cents = 7.91 (at current share price of 95cents at 17 Oct2006)
Assuming profit of $13million is meet.

*  Debt - currently $85million

So if company makes a profit of $13 Million for Fy07 -
85/13 = 6.5 years to pay of debt - quite risky!!!!  MUST Monitor Debt