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Somebody is impatient… first it was DeltaWave isn’t impressive now it’s a piggy bank patent… I do not see any information on recent updates or applications for the second mask. This leads me to believe a patent has not been applied for yet… just as a second 510k hasn’t been applied for yet…
The second mask won’t need to be patent approved for a second 510k application to take place. RemSleep seems to be focused on DeltaWave first and then I am sure we will get further clarification on what the second mask design is and the timeline on that product.
Not exactly earth shattering. The only patent pending application for Remsleep Holdings Inc.
Who owns the patent to the second mask?
If it's Tom's patent it should have been blasted on the front cover of the latest PRs. Sounds like it's another one of those third party knock-offs from "overseas" aka China.
Third party knock-offs are a far cry from "revolutionary".
Excellent post ??
Show me another otc ticker with no debt, positive cash flow, two revolutionary products….
I’ll wait…. And I’ll wait for a long time… it doesn’t exist…
So yes FDA withdrawal and resubmission will take a few extra months but that’s okay considering the set up of the company!
Suck up tweet on old news to divert attention from Tom letting the cat out the bag that he plans on forking out a half billion shares.
Anybody who actually reads the filings would know that there was only one note left on the books last quarter.
What folks should have been asking was why Tom didn't spare shareholders the unnecessary dilution and pay them off when he had the cash instead of allowing them to convert.
Buy time before the 2’s
Remsleep Holdings Inc
@RemsleepInc
·
3m
We are proud to announce that we have paid off our last remaining debt on our balance sheets. So, as of today, we are 100% completely debt free. We also do not have any remaining convertible debt. $RMSL
We are proud to announce that we have paid off our last remaining debt on our balance sheets. So, as of today, we are 100% completely debt free. We also do not have any remaining convertible debt. $RMSL
— Remsleep Holdings Inc (@RemsleepInc) June 17, 2022
What a joke… they clarified there will not be dilution… yet he still claims it’s going to happen..
Non event now, move on.
The S-1 filing SUGGESTED the dilution.
Agree, I emailed Tom yesterday and again today in relation to what had taken place and the necessity to provide update to shareholders re why this was done. I am sure I was one of many who did this. Was great to see such a comprehensive PR as to what had taken place. Good on Tom for doing this, he certainly did not have to.
You will be waiting a longtime, sorry.
Cat's out of the bag...wait for it.
Pretty clear no dilution as you suggested, glad company was prepared to acknowledge the confusion.
“We have no intent to raise capital, or our authorized share count and/or our outstanding shares count, unless it is absolutely necessary to meet our above-mentioned goals as a company. As of right now, there is no necessity for an S-1 filing. We value and appreciate the continued support from our shareholders, and further updates on developments within our current objectives will be forthcoming.”
Total shitshow. "S-1 filing was a miscalculation on our behalf"...24 hour bipolar 180 about something that major.
Tom's always passing the buck...maybe he doesn't realize he's the CEO and he signed off on all the filings.
He's implying someone else made that decision...on RMSL's "behalf".
Tampa, FL, June 16, 2022 (GLOBE NEWSWIRE) -- RemSleep Holdings Inc (OTC PINK: RMSL), a medical device manufacturer dedicated to forever changing the level of treatment provided to obstructive sleep apnea patients, would like to address shareholders regarding the S-1 filing from June 15th, 2022.
First and foremost, we want to be clear, we did not file the S-1 out of necessity. This was set up as a precautionary safety net given the current global and U.S. economic dynamics, and the challenges they are imposing not only now, but in the future as well. With the historic rate of rising inflation and the impact it is having on interest rates, cost of materials, labor rates, and overall cost of conducting business, we felt that it may be in the best interest of the company, for the long term, to have access to a line of credit that could be used on an emergency use basis. The cost involved now is potentially far less than it could be in the future, and we thought weâ??d rather have it and not need it, than the other way around. The intent was not to exercise the S-1 unless we absolutely had to, and because of our current robust financial state, that would be well in the future, if ever. In hindsight, the decision to have a line of credit via an S-1 filing was a miscalculation on our behalf. We want to be clear on this as well, our intent is to:
- Continue to generate revenues and profits from our CPAP machine distribution agreement.
- To successfully up list to OTCQB® status.
- To obtain FDA approval on our 510k for the patented DeltaWave Nasal Pillow Mask as soon as possible.
- Upon FDA approval, to have a successful sales/marketing campaign and launch for the patented DeltaWave Nasal Pillow Mask.
- To proceed with the filing of the 510k for our 2nd CPAP mask to broaden and strengthen our product line up.
We have absolute belief in our ability to execute these objectives, and we have made the decision to terminate the S-1 filing effective immediately. We have no intent to raise capital, or our authorized share count and/or our outstanding shares count, unless it is absolutely necessary to meet our above-mentioned goals as a company. As of right now, there is no necessity for an S-1 filing. We value and appreciate the continued support from our shareholders, and further updates on developments within our current objectives will be forthcoming.
Shareholders waiting for the next shoe to drop...the cat's out of the bag about what Tom's planning on doing.
News flash: public notification required before use.
OBVIOUSLY the equity line hasn't been used since May 10th because the SEC requires them to file the S-1 before doing so.
Wait for the refiling with amendments. This has happened numerous times with RMSL for several offerings that have been filed, withdrawn, and re-filed with changes.
Withdrawing S-1...wise move:
http://archive.fast-edgar.com/20220616/A32ZF22CLW22R242222C2MY2HGMKZ222Y642/
I cannot wait to hear what the opinion changes to when the company clarifies they have no intention of exercising the equity line… need I mention the agreement was back on May 10 and it hasn’t been touched…
Shelf offerings do not need to be exercised ever again it’s an insurance policy in case they need extra funds… and looks to have been taken out in advance of what was the originally expected fda approval date.
Team Gaslighting: "What offering?"
Team Gaslighting: "JanBellaGroupLLC likes to waste their time!"
Team Gaslighting: "The filing was just for fun!"
Filing says Six-Ways-to-Sunday it's an OFFERING. The shares are going to be issued to JanBella LLC who will in turn DUMP them into the market so it's totally irrelevant that the shares aren't offered to the "public" because they have the same effect: DILUTION.
http://archive.fast-edgar.com/20220615/AJ2ZM22CLW22F232222K22Y2C8HNZ222Y642/ea161575-s1_remsleep.htm
Sure sounds like somebody smelled a long 510k delay....
More gaslighting...why would you pawn the company off to note sharks unless you anticipated needing the cash? It's not that hard.
"No shares have been diluted yet!" "The update from 6/10 says no dilution!" No shit..the filing was just made today.
Tom has no plans on blowing through cash the agreement was reached with JanBella Group in May 10th.
It was made in advance of the anticipated 510k FDA approval for their revolutionary 20 year patent DeltaWave Pillow interface mask.
Some people will say anything to try to deceive people
Also tells you Tom's planning on blowing through their existing cash.
Well considering all notes have been converted and the share structure hasn’t changed since 10q there has been no dilution at all…
When you take out a home equity line of credit does that mean that you have to use the line of credit? No…
It means you have a back up funding if needed to make sure you have all systems go for when FDA approval is officially received
No way to sugarcoat...it's dilution...the shares will be issued and JanBella LLC will be dumping those shares into the market.
It’s an equity line of credit secured by shares of RMSL. The filing is in fact not a public offering and no shares have been diluted as can be seen by the share structure updated on 6.10.22 (shares outstanding is same as it was on the 10q)
Actually looks like they entered into an equity line of credit back in May. Probably preparing to fund mask after approval.
They have several millions is cash so no need to take any cash cash from credit line at the moment.
Half a billion shares offering...dilution inbound:
http://archive.fast-edgar.com/20220615/AJ2ZM22CLW22F232222K22Y2C8HNZ222Y642/ea161575-s1_remsleep.htm
"Pre-revenue" is soft serve to the gullible. They pivoted from the DeltaWave being their flagship product to hawking third party cpap machines that are a dime a dozen on the internet.
They are going to need a lot of "positive cash flow" to crack that $10.7 million nut.
Pie-in-the-sky. Two guys and a CPAP is a delusional comp to a $30 billion annual revenue company.
A pre revenue company with almost no debt moving to positive cash flow and yet somebody still tries to say RMSL is in a bad spot because they issued new shares last year for an offering and notes being converted.
Do your own research people some people get paid if you interact with them
So are we going to skip over the Starbucks comparison? I mean pot calling kettle black…
RMSL's only 1/3 ish of the other steaming pile. What a convincing pump point.
So glad somebody brought up accumulated deficit compared to total shareholder equity. If you would like to know the total equity for WHSI is negative $1,853,344…. And if you are comparing just accumulated deficit and not total equity…. WHSI has negative $38,465,530 compared to RMSL negative $10,707,914 (keep in mind Rmsl was pre-revenue.)
But let’s look big picture since somebody brought up accumulated deficit being the value of a company…. Starbucks retained earnings (accumulated deficit) for 2021 was -$6.316 billion….
So which number do we use ??
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REMSleep Holdings, Inc. is engaged in the business of developing and distributing sleep apnea products. The Company focuses on offering optimum compliance and comfort for continuous positive airway pressure (CPAP) patients. Its DeltaWave CPAP interface (the DeltaWave) is a device to treat patients with sleep apnea. Its DeltaWave product is a nasal-pillows type interface that is designed with airflow characteristics to enable patients with sleep apnea to breathe normally. Its product is manufactured by mold makers. Its target market includes home care dealers, private sleep labs, product end users, sleep physicians, medical groups, sleep product distributors, hospitals, medical associations, such as the American academy of sleep medicine and the American sleep association. REMSleep LLC is its wholly owned subsidiary.
INDUSTRY
Medical Equipment & Supplies
CONTACT INFO
2202 N. WEST SHORE BLVD SUITE 200
TAMPA, FL
33607
United States
+1.912.5902001
https://www.remsleep.com/EXECUTIVE LEADERSHIP
Russell Finlay Bird
Chairman of the Board
Thomas J. Wood
Chief Executive Officer, Director
Jonathan B Lane
Chief Technology Officer, Vice President
https://www.fundable.com/remsleep
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