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Interesting, I got a few mailers on it as well. News: http://finance.yahoo.com/news/curaspan-health-group-awards-contract-122947839.html
Quite a few emails on this one, poised to run IMO.
Caution - I can't say that this stock won't go up per the recent report, but what I can say is that based on my direct experience - the management and people behind this company are unethical, crooks.
So before buying this stock you should recognize that some day you may find the head of a horse in your bed. Buyer beware.
MITD one for 10 reverse split:
http://www.otcbb.com/asp/dailylist_detail.asp?d=03/14/2013&mkt_ctg=NON-OTCBB
guess I missed those 'Christmas gift' prices.....
glta
tom
Well morning selling time to get in everyone its going north.
Thanks for the Chart zardiw. Appreciated.
Nice day for MITD today. It held its gains thru the day after the initial drop in the 1st 2 hours or so. No major selling EOD despite a 700% gain. With a relatively low # of outstanding shares we could be in decent shape to move higher tomorrow despite some possible small profit taking in the very early going.
I got the news from rising penny stocks and did really bad on it. When it opens high and goes down there is no room to make money. Is there anything in this thing for tomorrow. Well someone let me know what u think. Thanks
What alert did you receive?
Looks very thin..Ready to run again to earlier highs...
Looks like somebody taking them here at .044. Will pop to .052 when those are gone. Seems to be goig back up after lunch.
Looks stable here....Seems to have found some support...
MITD ..PUMP and DUMP..DUMPING is happening NOW. Not Good to BUY NOW. WAIT for sometime..it will be back to 0050s..
I hope you are joking and I hope you already got out.
ARE WE GOING TO END AT A HIGH TODAY.
forming a base at about .10, hop in now and fasten seat belt
reload again here guys and lets rock it to the moon
Just recieved the alert.ugh!! May buy in on a dip. Looks like shes flying.
MITD No bought in today....
MITD is ripping to the upside, lets go go go, should retest .14
Did you get in on mitd yesterday at .01?
An other Great day for me... GO MITD
No idea, but I'm liking it.
It is moving because it is a Fox pick play for today, Pump.
MITD 1-10 RS coming:
We are furnishing this information statement to advise you that a majority of the shareholders of MIT Holding, Inc. (the “Company”) has approved an amendment to the Company’s Certificate of Incorporation which recapitalizes the issued and outstanding common stock of the Company by exchanging 10 currently-issued shares for one resultant share. The number of authorized shares of common stock remains as currently stated at 250,000,000.
This amendment was effected by authority of the Board of Directors of the Company and the written consent of the holders of a majority of the Company’s Common Stock.
Pursuant to the affirmative vote of the holders of a majority of the Company’s issued and outstanding Common Stock, the Company’s Certificate of Incorporation will be amended to reflect a change in the number of shares issued and outstanding (the “Amendment”).
The Amendment was approved by our Board of Directors on November 8, 2012. Also on November 8, 2012, holders of a majority of the shares of our Common Stock acted by written consent to approve the Amendment.
PLEASE NOTE THAT THE NUMBER OF VOTES RECEIVED IS SUFFICIENT TO SATISFY THE STOCKHOLDER VOTE REQUIREMENT FOR THESE ACTIONS AND NO ADDITIONAL VOTES WILL CONSEQUENTLY BE NEEDED TO APPROVE THIS ACTION.
No action is required by you. The accompanying Information Statement is furnished only to inform our stockholders of the action described above in accordance with Rule 14c-2 promulgated under the Securities Exchange Act of 1934, as amended.
The amendment to our Certificate of Incorporation will not be effective until a Certificate of Amendment is filed with the Delaware Secretary of State.
By Order of the Board of Directors,
/s/ William C. Parker
WILLIAM C. PARKER
President
Savannah, Georgia
Dated: December 5, 2012
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8596502
Grasshopper, what you are asking can only be accomplished through years of hard work and experience and never discounting the value of "luck". One place to start with Reeseman Corp would be the Secretary of State's website for the state of NV. Search for Reeseman Corp. see what comes up, articles of incorporation, etc. Get a phone number, make a call or two and see where that leads you. This really isn't rocket science, just the uncommon application of common sense and hard work. Most people are too lazy to get off the couch and do their own work.
Hope this helps you. Find it interesting that this is your first post. Good luck to you rsteadman4972.
I respect your opinion and insight. I'm a novice so how would one find out that a company spends money on personal expenses and such? Is there a part of the reports where this is listed? I can't seem to find any info on this Reeseman Corp. other than they incorperated in NV.
Where did this come from?
William C. Parker 25,100,000 30.84%
Reeseman Corp. 25,100,000 30.84%
Arlene Wilhelm 1,442,500 1.77
Brinson Clements (1)* 300,000
Tommy Duncan (1)(2)* 483,158
Robert Rubin (1)(2)(3)* 483,158
Meyers Associates, LP (4) 3,475,000 4.27
All Executive Officers, Directors and 5% owners as a Group (7 persons)(3) 29,941,316 67.72%
Nothing that I could find in recent 10Q or 10K lists Reeseman Corp.
IMO - This company is a case study of what can happen to penny stock investors that invest in companies based upon assumptions and are minority shareholders where the majority are interested in paying themselves, using company funds for personal use and on and on.
Given Walter Drakeford's background, one has to seriously wonder why their required SEC reports are always delayed.
In my opinion, it doesn't pass the smell test.
Nice call Jrob.
MITD 10Q just out: http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8494514
NOTE B—GOING CONCERN
At March 31, 2012, the company had negative working capital of $1,185,879 and a stockholders’ deficiency of $2,247,789. From inception the Company has incurred an accumulated deficit of $8,527,203. These factors raise substantial doubt as the Company’s ability to continue as a going concern.
Current liabilities = $2.8 million
Quarter Revenues = $1.2 million vs $5.1 million
Quarter Gross Profit = $0.6 million vs. $1.4 million
Current liabilities, by definition due within < 1 yr.
Annualize this quarters gross profit $0.6 X 4 = $2.4 million
MITD's annual GROSS PROFIT is less than current liabilities.
Going concern? Seems to me more like going, going, gone
RIP MIT
Additional information.
1. Recently I have found out that the Drakeford was the engineer of taking this company public, several years ago now.
2. That the company was and may still be under investigation for medicaid/medicare fraud. I was told "may still be" because the lead witness against the company met with an untimely death...
3. That certain Georgia authorities uncovered things that were passed along to the ATF, FBI and IRS.
4. Was also told that several of the company's key employees left after the company went public (never disclosed either evidently) because they had such strong opinions that these new folks brought in to take the company public and who were significant investors in the initial offering were "gangsters".
While I have been able to document some of this information, a good part of it was told to me by people I believe to be reliable. So do your own due-diligence not only because you need to, but because my information is what I have been able to uncover, but not guaranteed as to its complete accuracy.
As always in this land of gypsies, tramps and thieves (predators) - buyer beware. Especially those who cloak themselves in the sheepskin of being Christians.
Curiouser and curiouser.
In the company's last 10K it lists Walter Drakeford as President, Co Chief Executive Officer, CFO and Director.
In the next filing, the 10Q Walter Drakeford is listed as CFO.
I can't find any explanation, 8K that explains this change.
Can someone else?
Furthermore that 10Q states:
"Delinquent Payroll Tax Returns and Payments
The Company is delinquent in filing certain Federal and Georgia payroll tax returns resulting in the non-payment of the related withholdings and employer taxes. The delinquency and non-payments are for the quarterly periods ended December 31, 2009, March 31, 2010, June 30, 2010, and September 30, 2010."
This is very rare to be anything but a very negative sign as to the long term viability of a company.
Furthermore it states that Drakeford and Drakeford were paid $60,000 to help handle this severe difficulty with the Federal and State authorities. Hmmm...
2011 10K - Read only if you have a strong stomach!
Sales decline 16.3%
yet
SG&A increases 20.9%
Current payables owed by the company:
$2,575,827
Revenues for 2011 = $5,933,201
The company owes 43% of the Revenues it earned in 2011!!!
Here are some items from the 10K:
Our restricted cash flow raises substantial doubt about our ability to continue operations unless we obtain financing or generate adequate cash flow.
Although we had revenues of $5,933,206 in 2011 and had receivables of $997,195 as of December 31, 2011, our inability to achieve sufficient increases in our revenues has created a liquidity challenge that raises doubt about our ability to continue as a going concern. The auditor’s opinion which accompanies our financial statements is qualified as to our ability to continue as a going concern. Revenues increased in 2010 to $7,088,493 from $6,400,042 in 2008. In addition, collection of medical receivables can be delayed as they are submitted to insurance companies and government agencies, unless we generate sufficient collections on our receivables, otherwise increase revenues or obtain financing through other means, our operations may be difficult to sustain.
MIT faces downward pricing pressures.
MIT believes that continued pressure to reduce healthcare costs could have a material adverse effect on MIT’s revenue. The current market continues to exert pressure on healthcare companies to reduce health care costs, resulting in reduced margins for home healthcare providers such as MIT. Larger group purchasing organizations and supplier groups exert additional pricing pressure on home healthcare providers. These include managed care organizations, which control an increasing portion of the healthcare economy.
Our restricted cash flow raises substantial doubt about our ability to continue operations unless we obtain financing or generate adequate cash flow.
Although we had revenues of $5,933,206 in 2011 and had receivables of $997,195 as of December 31, 2011, our inability to achieve sufficient increases in our revenues has created a liquidity challenge that raises doubt about our ability to continue as a going concern. The auditor’s opinion which accompanies our financial statements is qualified as to our ability to continue as a going concern. Revenues increased in 2010 to $7,088,493 from $6,400,042 in 2008. In addition, collection of medical receivables can be delayed as they are submitted to insurance companies and government agencies, unless we generate sufficient collections on our receivables, otherwise increase revenues or obtain financing through other means, our operations may be difficult to sustain.
On August 1, 2008, we received a term loan from Globank, Corp. (“Globank”) in the amount of $500,000 and used the proceeds to pay off our obligation to a factor. The term loan from Globank, Corp. matured on July 31, 2010. This loan was replaced by a new loan in 2010 with Globank (the “New Loan”). This New Loan accrues interest at a rate of 14.9% per annum and matures on December 31, 2013. The terms of the New Loan requires monthly payments of accrued interest payments plus principal payments of $1,000 per month. A balloon payment of $1,002,727 is due on the maturity date. The New Lloan is secured by our assets and guaranties of the Company’s chief executive officer and our three subsidiaries.
RIP MIT[color=red][/color]
You must of meant .025 cuz that's the only place this thing is headed. They need to release some news to give this dead stock some life again.
watch what happens as this heads for .25 :)
Hey JoRok, I'm still here! We are about 50% up today!
8-K out today.
http://www.otcmarkets.com/stock/mitd/financials
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MIT Holding (MITD) offers through its Portfolio of licenses, contractual and affiliate agreements services and products currently including but not limited to: compound pharmaceuticals, administer intravenous infusions, medical management services, in home or ambulatory center therapies and sells and rents home medical equipment.
In support of these core services, MITD provides expert accounting, advisory and educational services to physicians, medical centers, hospitals, small and large businesses regarding the Affordable Care Act; offers travel and transportation services of medically challenged patients for medical needs and personal travel; and through its contracts is approved to conduct and administer FDA clinical trials.
Collectively, these services contribute to MITD’s strategy to provide custom prescription solutions in a variety of methods and generate multiple revenue streams. Following a successful reorganization initiative in January, 2014, MITD is positioned to achieve 32% minimum net profits and has maintained profitability in its fiscal second and third quarters. This profitability validates the company’s business model and its approach to the evolving Affordable Health Care Act and its impact on the health services industry.
MITD meets and/or exceeds major U.S. health insurance requirements and is therefore able to direct bill and receive payments from carriers on behalf of the patient its agents and its facilitators. This ability marks an important step in the company’s goal of developing the first-of-its kind seamless transition for patient needs from hospital discharge to complete home recovery. This and other corporate initiatives are spearheaded by a management team committed to building shareholder value, revenues and corporate expansion while providing viable solutions to the perpetual changes in the health care sector.
Investment Highlights
Portfolio of Services
Providing custom compound pharmaceutical solutions through a variety of methods designed to improve the lives of patients with specific needs. | |
Offering patients professional outpatient medical care through an ambulatory center, home infusion services, and medical equipment delivery. | |
Striving to provide a wide variety of home medical supplies through durable medical equipment agreements that are fully accredited with Medicare and over 130 insurance carriers. |
Top 6 Investment Considerations
Market Opportunities
Outpatient Care
The healthcare facilities industry continues to outperform the stock market as a whole and many experts expect this trend to continue due to the greater longevity of U.S. and worldwide populations. More and more people are being discharged earlier from hospitals in order to reduce the cost of hospital care. These people need continued outpatient care, and MITD is positioned to meet this need with ambulatory infusion therapy, home infusion therapy and various products including walkers, wheelchairs and respiratory equipment. In addition, MITD will handle billing and interact on behalf of the patient with their insurance carrier, thereby providing a complete “one stop” service for customers.
Baby Boomer Generation
The company is also positioned to benefit from the increasing number of Baby Boomers entering retirement and their increasing medical needs. The Baby Boomer generation of roughly 73 million Americans accounts for about 40% of all U.S. spending, according to the Centers for Disease Control (CDC).
Approximately 10,000 Baby Boomers turn 65 each day – a demographical progression expected to continue at the same pace throughout the next 19 years. As the Baby Boomer population ages, MITD is presented with growing opportunity to provide its services to a rapidly growing demographic.
Management
Tommy J. Duncan - President, Director
Tommy J. Duncan in January, 2015, joined MIT Holding as president and director. Duncan’s management experience includes serving as president at Southeast Vending LLC as well as president of Southeast Lumber & Construction, Inc. for which he successfully executed numerous mergers and acquisitions and was responsible for identifying and securing financing from multiple funding sources. During his tenures as secretary and treasurer at both Auto Locators, Inc. and Custom Locators USA, Inc., Duncan demonstrated his ability to identify talented management and appoint selected individuals to key positions to sufficiently accommodate corporate expansion. His prior experience also includes serving on the board of directors at CNB Bancorp, Inc. (Windsor, Virginia).
Robert L. Yates - CFO
Robert L. Yates in 2008 joined MIT Holding as controller. Yates relocated to Savannah, Georgia, in 2006 and, after a brief retirement, decided to rejoin the workforce. Since 1987, Yates has served as controller or chief financial officer in small-to-medium size firms in Northern California. Yates received his accounting degree from San Jose State University in 1978 and gained his accounting and auditing experience with Arthur Young & Co. in San Jose, California. He obtained his license as a Certified Public Accountant (CPA) in 1980. Yates is a veteran who served in the U.S. Air Force in the Vietnam era.
Walter H.C. Drakeford - Chairman of the Board of Directors
Walter H.C. Drakeford in 2010 joined MIT Holding as chairman of the board of directors. His stellar career includes being the senior managing director of Drakeford & Drakeford for the past 20 years. Since 2007, he has been the director of mergers and acquisitions of AMC Global Communications, Inc. Drakeford served as chairman of the board for Ebank Financial Services, served on the boards of Netstar-USA Corp. and LaidLaw Transportation, as well as serving as an attaché to the White House under presidents Nixon, Reagan and George H.W. Bush. Drakeford holds a finance degree from the University of Berlin and a Masters of Business Administration from Heed University. He also holds a law degree from Thomas Jefferson School of Law.
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