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Odds remain favorable.
Odds remain favorable.
If $20M per clinic is value seasoned with client case, these ought to be around $10M
Times 6 clinics is $60M, they have around $12M invested so that’s a 5x return in 12 months
Sell a minority interest for $20M plus assumption of debt, let new player provide the funding to grow!
Home run!
Thinking 3.6 to 21 mil per clinic range
900k rev at multiple of 4X
1.4 mil rev at multiple of 15X
$180 mil to $1 billion … wide open here but happy in this range…
anything above 2.3 mil per clinic and we all win!!! So yeah bring in 20 mil per clinic
When they are opened properly and operating! These locations can barely produce 100k in quarterly revenue.
No one will pay 20mm a location for this. That is why the larger names with networks have been taken over.
Established and open locations. More then 2 matter.
I’m feeling very bullish right now, clinic businesses are being valued at $20M/clinic, half that is a home run!
I wouldn’t be surprised to see a big player come in and offer big $$ for a part or all
How long until temporary furlough become permanent lay-offs and closures.
3-4 weeks?
Each site is only worth the price of the building right now…. Not $20m. But maybe when this hits $2?!
Uplist in process
Taking too long, but in process
No up-list now. Wow
No revenue
No profit
No empathy
No employees
I love this company Miti 2.0
I’m a buyer
Same sites
Less overhead
Don’t care about the uplist
Build the biz
Each site is worth $20M when stabilized
It’s a solid investment in an market insatiable needs for healthcare!
I hope okra is ready to bag hold!! Ha ha ha
Ha ha, great! When up list December 7th
You keep with the bull, this business mode failed.
Now if you want to redo it with fresh money and new locations is one thing.
But at this point they have neither. I sold half on Friday and ready to un load more
If you read the 8k’s you will see they got over $1M after Sept 30
If you read the details in the deck online you’ll see visit volumes are up nicely, tho revenues seem to be lagging
Look for The Good Clinic 2.0 plan, less overhead and more locked in revenue from subscription services
What about the lawsuits coming from the abandoned locations?
Who is paying the leases, employees and electric bills?
6k in the bank isn’t enough with anemic growth.
The model doesn’t work, to few people are heading to the Good Clinic.
Actually people prefer to speak actual Doctor not a nurse!
The Zack paid report, isn’t panning out with actual growth.
Over time every company has good days and tough days
Management might have scaled back sooner, true
They have proved the delivery model
Can they do it with less overhead? Don’t know
Stop - think - retool - come up with Rev 2.0
If you believe this guy your nuts?
No revenue
Closing locations
Mechanical liens
Laying off employees
Nasdaq really, no way in hell. The Nasdaq will not take a company that is falling apart and ready to go bankrupt.
That is their only lifeline but they aren’t going to get it. More toxic loan and dilution 000 zeros here it comes.
There are more people ready to sell just waiting for any bounce. Watch it
Still good for $2?
The truth is out!
Mitesco reported cash of $6,000 on Sept. 30, current liabilities of $14.4 million and a net loss of $11.7 million so far 2022, according to the SEC filing.
An unspecified number of employees have been furloughed, following missed paychecks in November. Four of its six clinics have closed.
Cutting back right now is common with all companies, when uplist is done then go back to expansion
I’ve not seen anything about insurance, so I’m guessing that’s misinformed
So layoffs and not paying their insurance?
Are they thinking of closing locations that failed?
What about expansion to 50 locations?
Every company out there is cutting back, that’s just good management
What know, the company is cost cutting, lay off employees on a hiring freeze. Not paying their liability insurance!!
What is next bankruptcy.
Might see a double here today!
Might see a double from here in short order
Would like at least a 2X from here before Uplist.
1 year of S1 filing and in quiet period. What a headache. GLTA
It might be time to buy everything you can!
Terrible numbers 6k on hand! Not even 150k in revenue in a quarter.
I have shares on the ask come get them!!!
Got 0.052s. Gonna buy more below 0.05
Hope they give me some!
Great time to add. I just entered here. Will add .05s also!
What is next? Dismal earnings.
Bridge loans can only take you so far, substantial revenue is needed to grow a business.
I have not sold a share since October 2019. I continue to add as I believe this is a legit company with a future.
2022 resembles 2020.
Heartbroken? A bit. Motivated? Seeing it through.
This all started with MT*BC model.
I always ask my self. Is this a future $100 mil market cap company? I do believe that.
I think Larry and Michael have several options … what I do know is they are at their 3 year anniversary… so the next 12-24 months could get wild. They have their own internal deadlines from how I’ve followed it.
I’m friends to all. Good luck everyone. Holding every share still…and adding more
Ditto. Bought more yesterday and today.
I wonder why you can’t sell it to accredited investors? No revenue, Terrible sale model, tons of debt and fake projections.
Zero accomplishment in 2022.
Actual performance!!!!!
PERFORMANCE
5 Day
-23.25%
1 Month
-46.28%
3 Month
-50.68%
YTD
-57.93%
1 Year
-73.46%
Mitesco opened its first clinic in February 2021, and by the end of the year had six clinics operating around Minneapolis. In 2022, the Company expects to open an additional 12 clinics in three states – Minnesota, Colorado and Arizona. By 2023, Mitesco plans to have 50 clinics in operation.
Cash flow
Mitesco’s business model is cash intensive, as are most physician practice companies. On the front end are new clinic construction costs, as well as clinic overhead until each reaches normalized revenue levels. In addition, is the need to fund accounts receivable, as the Company seeks to be a key provider to insurers in its markets. We are taking a conservative approach to modeling clinic accounts receivable averaging 90 days (DSOs). A clinic generating $1.0 million in revenue, would have $0.25 million in AR. This amount would grow to $0.38 million for a clinic with $1.5 million in revenue. The level of DSOs for each clinic will vary by revenue mix; clinics with a high level of ancillary product and service sales, will likely have lower DSOs as these items will be cash payment at time of service.
Our model assumes six clinics at the end of 2021 (two clinics opened on December 30, 2021), growing to 98 by the end of 2026. Under these assumptions, we estimate that the Company will not generate positive free cash flows (after capex and working investment) until 2029. However, given our aggressive clinic roll-out and conservative working investment need assumptions, our timeline may be flawed. Mitesco’s management guides to new clinics being operating cash flow breakeven at 14 months; for clinics tied to narrow network insurers, management believes operating cash flow breakeven will occur in about half that time.
Balance Sheet
At December 31, 2021, Mitesco had $1.2 million in cash and equivalents on its balance sheet. The Company raised approximately $3.7 million in capital in the last three months of 2021. Management indicates a preference to finance clinic construction costs with short-term debt and a 12- to 18-month payoff, as a way of reducing dilution to existing shareholders compared to equity financing.
Not from their last projections.
All fake!
For 2022, we look for revenues of $17.8 million, based on 17 clinics in operation at year end (12 clinics opened during the year). We model average clinic revenues of $1 million in the first year, based on 60% capacity utilization. For more mature clinics, we model revenues of $1.5 million, based on 80% utilization. Depending on the timing of new clinic openings, it’s possible that reported costs will also differ materially from our estimate.
We assume that operating costs for each clinic are largely fixed at $0.9 million per year, excluding construction and start-up costs. For 2022, we model $15.7 million in COGs, a clinic level gross margin of 12%. We’ve modeled $4.9 million in general and administrative costs for 2022, interest expense of $0.8 million for clinic construction debt financing, and other expense of $0.7 million. Earnings are forecast to improve from $(0.06) 2021 to $(0.02) in 2022.
We expect the Company to report breakeven net income in 2023, based on our revenue estimate of $36.7 million (32 clinics at year end), 19% gross margin, 5% operating margin and $0.2 million in net income to common shareholders.
Cash flow
Mitesco’s business model is cash intensive, as are mos
I will be picking up some more tomorrow morning
Just a little guppy about but have a nice share count
Let’s see if something happens this week
Love to see a company go from nothing to 6 or 7 locations
Can you name a small company that can do that in a year. Take 3-5 years to be making money. Everyone knows that
“In 2022, I expect healthcare providers themselves will strengthen and formalize training to research and promote telehealth best practices to their clinicians. It's already happening, and I expect to see specialties like mental health and urgent care shifting to a predominantly virtual model in 2022.”
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A recently closed acquisition for Mitesco is MyCare, LLC. As pointed out by Roland Rick Perry, Managing Editor of the Biotech Stock Review, MyCare, LLC is led by the team that brought QuickMedix/Minute Clinic to scale. QuickMedix/Minute Clinic was acquired for an estimated $170 million by CVS in 2006.
CEO Larry Diamond then touched on the details of its General Solicitation Offering Under Regulation D 506(c) of the Securities Act solely to accredited investors. Learn all the details of that offing here.
Diamond stated, “As our organization has been progressing, we created a strategy to use the public market to raise capital and bring efficiencies within our holding company that for many companies are not typically available. We have the ability to provide our acquisition targets with core services such as accounting and tax guidance, digital marketing expertise, and the like. Many smaller organizations struggle under the burden of trying to get the best services possible and run their day to day operations. Using the capital markets, we are raising money to be able to acquire these companies and to provide the growth capital necessary to scale these businesses at an accelerated rate.”
Diamond went on to discuss the direction of Mitesco going forward and how the Company will follow a similar path as MTBC, Inc.Mitesco Update:
Company Announces Details of its General Solicitation Offering Under Regulation D 506(c) of the Securities Act Solely to Accredited Investors and Institutional Investors
DENVER, CO, April 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ? Mitesco, Inc. (MITI) (the “Company” or “Mitesco”) announced today the details of its general solicitation private placement offering (“Offering”) solely to accredited investors under Rule 506(c) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended (“Securities Act”).
The Company has engaged CIM Securities, LLC ("CIM") as the exclusive lead placement agent. CIM invites all interested broker-dealers and accredited investors interested in participating in the Offering, to contact Mr. Jack Myers at CIM Securities via email at: JMyers@cimsecurities.com or by phone at: 619-749-2460.
“The Company has several initiatives which will benefit from this funding, including the roll-out of the MyCare clinic network. The team is moving forward, and while the effort will begin in Minneapolis, 23 states are encouraging nurse practitioners to practice to the full scope of their skills and training. Those states would be primary targets for clinics in both urban and rural locations. We are including the implementation of telehealth as a part of the practice. We believe telehealth will enhance the providers’ ability to focus on consumer needs wherever and whenever they arise,” shared Larry Diamond, the CEO of the Company.
“There are technology-oriented acquisitions, both domestically and in Europe, that can be accelerated with this level of funding. It is an excellent time to be acquiring proven solutions that reduce cost, improve quality, and enhance convenience for the consumer,” explained Julie R. Smith, President & COO.
The Best Efforts Offering, which will have maximum gross proceeds of up to $15 million in Units, consists of Series A Preferred stock and Warrants for the purchase of common stock:
Additional details are included in the Company's Private Placement Memorandum which is available to any accredited investor by contacting CIM Securities, LLC.
This advertisement does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful.
Under Rule 506(c), general solicitation of offerings is permitted, however, purchasers in a Rule 506(c) offering must be "accredited investors." The SEC defines the term "accredited investor" in Rule 501(a). Generally, individuals are considered accredited investors if they have a net worth greater than $1 million (excluding their primary residence) or incomes above $200,000 in the last two years with the expectation of the same in the current year (or $300,000 with a spouse).
Our Operations and Subsidiaries: My Care, LLC, and Acelerar Healthcare Holdings, LTD.
MyCare, LLC is a wholly-owned subsidiary of Mitesco N.A. LLC, the holding company for North American operations. MyCare is building out a network of clinics using the latest telehealth technology with the nurse practitioner operating as its primary healthcare provider. It will begin in Minneapolis and expand nationwide. There are 23 states today that facilitate nurse practitioners practicing to the full scope of their skills and training. The executive team at MyCare includes several of the key executives who brought Minute Clinic (previously known as Quickmedix) to scale, which was acquired by CVS for $170 million in 2006.
Acelerar Healthcare Holdings, LTD. is the Company’s wholly-owned, Dublin, Ireland based entity for its European operations. There are several targets in Europe under evaluation and management believes cross border expansion for these new, proven healthcare technology solutions may prove a profitable opportunity.
About CIM Securities, LLC
CIM Securities (www.cimsecurities.com) is an independent investment bank that serves micro-cap and small-cap companies by providing capital raising solutions and also merger and acquisition services for companies seeking growth capital or services. CIM Securities also caters to individual investors providing comprehensive brokerage and money management solutions. CIM Securities provides institutional investors and individual investors periodic opportunities to participate in public offerings and private placements of public or private companies.
http://internetstockreview.com/mitiupdate/
DATE/TIME | SOURCE | NEWS RELEASE |
---|---|---|
03/03/2020 08:00 AM EST | GlobeNewswire | True Nature Holding, Inc. DBA Mitesco, Inc. Announces New Nurse Practitioner Based Business Unit, Senior Team Comes With Acquisition |
01/06/2020 08:00 AM EST | GlobeNewswire | True Nature Holding, Inc. DBA Mitesco, Inc. Adds Distinguished Healthcare Executive to Board of Directors |
12/23/2019 08:00 AM EST | GlobeNewswire | Ms. Julie R. Smith, the President, COO and Board Member for True Nature Holding, Inc., Provides Detailed Overview of 2019 Milestones and Outlook for 2020 in a New Interview at SmallCapVoice.com |
True Nature Holding. Inc.
7535 East Hampden Avenue
Suite 400
Denver, CO 80231
Email:
Investor Relations
Phone: (844) 383-8689
Fax: (720) 575-5701
TNTY Simple Moving Average DAILY CHART
DISCLAIMER:
Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions.
There is no express or implied solicitation to buy or sell securities. The author(s) may have positions in the stocks or financial relationships with the company or companies discussed
and may trade in the stocks mentioned. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered
for information purposes only. No stock exchange has approved or disapproved of the information
Over Last 12 Months:
-Added Mr. Tom Brodmerkel to Board of Directors. Mr. Brodmerkel has extensive experience in healthcare technologies as the CEO of Wave Health Technologies.
-Complete name change from True Nature Holdings, Inc. (TNTY) to Mitesco, Inc. (MITI).
-Complete acquisition of “The Good ClinicTH”. Key leadership includes Mr. Michael Howe (CEO), Dr. Rebecca Hafner-Fogarty (CMO), Dr. Kevin Lee Smith (Chief Nurse Practitioner), and Dr. Jim “Woody” Woodburn (President & COO). These were key management for the acquisition of Minute Clinic, which were acquired by CVS in 2006.
-Established a relationship with CIM Securities, LLC as its advisor for investment banking related transactions.
-Initiated a $15 million in units for Series A Preferred stock and Warrants for the purchase of common stock. The unit will be priced at $25.00 per share, which pays 10% annual dividend paid monthly and is redeemable after three years. This is not convertible into common stock. Additionally, for each $25,000 of Series A Preferred stock purchased, the investor will receive 2,500 three (3) year investor warrants for the purchase of common stock, half (1,250) of which are exercisable at $0.15 per share, and half (1,250) of which are exercisable at $0.30 per share as warrants. -
-SmallCapVoice.com featured Larry Smith to discuss Mitesco’s business model and vision. The interview can be heard at: https://www.smallcapvoice.com/interview-mitesco-miti/.
-Added Dr. H. Faraz Naqvi to the Board of Directors. Dr. Naqvi is a senior executive with over 25 years’ experience in healthcare investment banking and asset management, is also a licensed medical professional with in-practice experience, and with telemedicine.
-Added Mr. Juan Carlos Iturregui, Esq. to the Board of Directors. Mr. Iturregui has over 28 years’ experience in business law, including extensive international work in the Caribbean, Latin America, and Europe. His professional background includes both domestic and international transactional healthcare-related activities. Also, his professionalism and knowledge led to governmental appointments to President George W. Bush and President Barack Obama’s administration.
-Mitesco, Inc. establishes a working relationship with NordHaus to place “The Good ClinicTH” in newly developed apartment complexes. NordHaus was developed and is owned by Lennar Corporation, an NYSE listed builder and developer of note. Lennar currently owns 52 similar apartment complexes in the US and is expanding annually.
-“The Good Clinic” signed two (2) letters of intent proving for the expansion to the Denver, Colorado marketplace. The new sites are inside two new multifamily developments, one known as “Citizen West” and the other known as “Radiant”. Both projects are developed by Lennar Multifamily Corporation, a subsidiary of Lennar Corporation. Both locations are set to open in 2021.
-Filed all public statements to maintain OTCQB status.
Moving Forward
-Our current plans are for up to 50 clinics nationwide developed over the next three (3) years, assuming sufficient funding is available, for a total anticipated financing of up to $50 million, generally using or previously announced Series A Cumulative Perpetual Preferred A stock, which pays a 12% cash dividend.
-Actively looking for acquisition opportunities. The integration of existing clinics could enable the company to gain, or expand, its market presence more rapidly than previously planned.
-Close Preferred Series A Funding
Funding Video DD: Explaining how MITI operates: https://youtu.be/xjR29Dd9jvI Explaining the inside buying: https://youtu.be/bh6zY84itDM
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