Streamline Health Solutions Inc. is a leading supplier of workflow and document management tools applications and services that assist strategic business partners and healthcare organizations to improve operational efficiencies through business process optimization. The Company provides integrated tools and technologies for automating document-intensive environments including document workflow document management e-forms portal connectivity optical character recognition and interoperability. The Company's workflow-based services offer solutions to inefficient and labor-intensive healthcare business processes throughout the revenue cycle such as chart coding abstracting and completion remote physician order processing pre-admission registration scanning and signature capture insurance verification secondary billing services explanation of benefits processing and release of information processing. Streamline Health Solutions Inc. has a market cap of $16.28 million; its shares were traded at around $2.08 with and P/S ratio of 0.98.
Highlight of Business Operations:During the first nine months of the current fiscal year, the Company granted 75,000 options with a weighted average exercise price of $2.17 per share. During the same period 52,500 options with a weighted average exercise price of $2.875 per share expired and 7,000 options, with an exercise price of $1.50, were exercised under all plans.
The Company adopted the standards of Statement of Financial Accounting Standards No. 123(R), Share-Based Payment, in fiscal year 2006, using the modified-prospective-transition method which requires expensing the fair value of the equity awards. The expense relating to the fair value of equity awards included in the three months and nine months ended October 31, 2008 and 2007 amounted to $38,111 and $27,982 and $118,922 and $83,553, respectively.
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