AMERI Holdings AMRH Stock News

AMERI Holdings Inc (NASDAQ: AMRH), commonly referred to as Ameri100, is headed up in the market this morning with gains of around 5% after announcing multiple bits of news. First and foremost, the company received an extension to regain compliance with Nasdaq’s listing requirements. Moreover, the company announced a new, revenue generating customer.

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AMRH Receives Extension From Nasdaq

As mentioned above, AMERI Holdings is up in the market this morning after announcing two bits of news. The first of these announcement was that the company has been granted a 180 day extension to regain compliance with the minimum $1.00 bid price per share requirement for continued listing on the NASDAQ.

In the release, the company said that it received the notification from the Nasdaq on June 11, 2019. Moreover, the extension gives AMRH until December 9, 2019 to regain compliance.

In order to regain compliance, AMRH will need to trade at or above $1.00 per share for a period of 10 consecutive trading sessions. Once this takes place, the matter will be closed.

New Client Acquisition

In a second announcement made shortly after the Nasdaq notification announcement, AMERI Holdings said that it has brought in a new customer. In fact, in the release, the company said that it has signed a multi-year, managed services contract with Epson America, Inc.

The contract comes with annual renewals, securing meaningful revenue for the company for years to come. Epson is a household name in the United States and around the world. The company is the leading provider of hgih-performing printing and projection solutions.

The new contract is expected to lead to signifcant revenue. In fact, AMRH said that as a result of the contract, Epson is expected to become a top-3 client by revenue in 2019. However, the actual financial terms of the agreement remain undisclosed.

Ameri100 said that as the agreement states, it will provide Epson with across-the-board support and management of SAP applications – cloud, on-premise or hybris – related to its ERP, HCM, eCommerce SAP applications and systems as well as applications adjacent to SAP.

It’s also worth mentioning that Epson is no stranger to the services provided by AMRH. In fact, in the past, the company has implimented multiple SAP-based applications for Epson, including a global implementation of SAP ecommerce using the Hybris platform.

Under the terms of the contract, Ameri100 will provide Epson with across-the-board support and management of SAP applications – cloud, on-premise or hybrid – related to its ERP, HCM, eCommerce SAP applications as well as systems and applications adjacent to SAP. Ameri100 previously implemented multiple SAP-based applications for Epson, including a global implementation of SAP ecommerce using the Hybris platform.

In a statement, Brent Kelton, CEO at AMRH, had the following to offer:

This contract highlights our ongoing ability to cultivate opportunities for higher margin, recurring managed services revenue from implementation clients that is a key component to our strategy to shift our revenue mix to more profitable solutions sales.

We are very pleased to have secured this long-term contract that builds on Epson’s trust and confidence in our ability to deliver expected results. This contract also sets the stage for further solutions sales opportunities in support of Epson’s strategic transformation initiatives.

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Things Are Turning Around

Following AMERI Holding’s stock has been interesting. Unfortunately, the company has faced struggles as of late, leading to weakness in the stock. However, with today’s news, the company has another 6 months to find a solution to the bid price blues, giving it time and opportunity that will likely lead to compliance ahead.

Moreover, Epson is no little company. As the world’s leader in printers, the company is a shark among minnows. As such, the newly announced relationship between AMRH and Epson will help to significantly expand revenue. So, while there’s still plenty of risk here, those with a healthy appetite for risk could see this as a strong investment opportunity for long-run gains.

What Do You Think?

Where do you think AMRH is headed moving forward? Join the discussion in the comments below!

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