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Noteholders are making a killing. They probably converted their notes into shares somewhere between .001 and .005 and sold those converted shares at the T-trade avg of .0187. That was just a T-trade for one day. Great deal for the note sharks, not so great for shareholders buying in at .01 and .02 getting diluted to hell.
You can get a good idea of what rate they are converting their loans by looking at the notes to the financials. The 4Q financials show a $110k convertible note from the prior quarter converted 29,954,167 shares which is .00367 conversion rate.
The $205k convertible note that diluted 205 million shares equates to a .001 conversion rate.
That might suggest who ever is converting doesn't think the price is going to rise other wise $110,000 would be a pittance. Glad I'm playing with freebies, I am going to hold just in case.
Makes perfect sense. It's clear evidence of dilution which contradicts the pumpers telling folks that dilution is done because the "offering is closed".
CEO has plenty of cash from the offering to pay off the many convertible notes on the books to protect shareholders but he ADDED more convertible notes on the last financials.
The longer it takes (if ever) for the 510k clearance, the more cash they will burn through, more dilution and then the inevitable reverse split.
Makes no sense. How far is 110,000 going to take anyone?
Nice big a$$ double bottom in place here!We"re close folks.Standbye.
Pump "articles", Telegram rooms, and Kindergarten trading "Teams" create the necessary volume for the dump.
RMSL getting noticed. New article just out: https://microcapdaily.com/remsleep-holdings-inc-otcmkts-rmsl-getting-noticed-as-co-fills-orders-for-its-cpap-masks-and-looks-to-get-its-new-deltawave-cpap-approved/
The second lab is criticizing the hired toxicologist as much as they are criticizing the first lab because the toxicologist was hired to correct the procedures on the retest which ultimately failed on the retest.
The hired toxicologist set and/or reviewed the new protocol that failed:
He's also the one who chose the new lab before the first retested in case the new protocols didn't get the result they wanted.
Why would you need a backup lab if you were the one who revised the protocols that you claimed were erroneous in the first test that failed?
There are a lot of questions that need to be answered if they want to pass the scrutiny of the FDA who might perceive these actions as shopping for a specific result rather than looking out for the interest of public safety.
I do understand all the concerns due to past history though! GLTA
Saw that yesterday and thought it was very encouraging for this next round of testing. We shall see if the results are positive this next time.
"it is the opinion of the new lab
that the testing procedure was significantly erroneous and set up the REMSleep medical device for failure."
You missed this part....hmmm?
https://www.otcmarkets.com/filing/conv_pdf?id=15699670&guid=3A6wkanF-s5pQth
So the backup plan from the hired toxicologist (going to another lab) wouldn't be necessary if they liked the result of the retest from the first lab?
Did the hired toxicologist create the new protocols that failed in the retest?
Would the new lab located by Superior Toxicology be dunking on the first lab's test results if they got the result they wanted in the retest from the first lab?
I'm sure the FDA wants to see protocols that were set and performed in the interest of public safety, not necessarily of a desired outcome.
FDA might not look favorably on what could be perceived as lab shopping.
The hired toxicologist states that after RMSL failed the first cytotoxicity test which he believed was due to incorrect procedures, they performed a retest with different procedures which he though would give a favorable outcome:
Haha put it in an 8k and see if they buy it.
So RMSL said the cytotoxicity test was performed in early 2021 and just recently discovered the proper procedure wasn't used which would have to imply it didn't fail, because that was a year ago and they never mentioned it until now:
The 8k just filed says it flat out failed:
The person RMSL solicited for the opinion in the 8k then says:
So he's saying he was wrong about the retest but now he'll be right because the new solicited lab says in their "opinion" they will do a better job.
Sounds totally convoluted and totally par for the course with RMSL.
https://www.sec.gov/Archives/edgar/data/1412126/000121390022016562/ea157712ex99-1_remsleep.htmhttps://newsfilter.io/a/fd03a78852b7f1f3d36a85e00229c791
I've been using the deltawave for quite a while now and I'm doing just fineeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.....................whoops except for that! JK
I need so humor for levity, this is getting old!. I'm going to see if Tom can pull this off! I do love the product! GLTA IMO
I'm holding. Will wait another month to see if this new testing company can address whatever perceived issues there was with the prior testing company and their approach/procedure.
No "FDA consultants" on the payroll in the financials during that time nor mentioned in the notes to the financials.
These are verifiable facts.
The FDA consultants were FDA employees who rejected the 510k.
False. RMSL didn't have any hired "FDA consultants" at that time. The FDA consultants referred to in that PR are FDA employees who are mediating the communicating regarding the regulatory status to Remsleep Holdings.
It was covered ad nauseam that the 510k was rejected at that time and Tom readily admitted to it.
Correct. They enacted their extension to give them more time to resolve this issue. I think the big question is can they and then resubmit for a new test with a different testing company.
I think your comment is a bit misleading. It wasn’t rejected by the FDA, but rather by FDA consultants just like the company we’re using today.
Sorry was not going that far back, I thought you were talking about the current 510k having been rejected which is not the case as it’s still on going.
510k rejected after years of Tom saying it was imminent and never mentioning to shareholders that he was trying to use the 510k from an archaic device, the "Laminair", to get clearance for the Deltawave. No one in their right mind would have invested had they had that information because the two devices look nothing alike. He strung shareholders along for years on incomplete information and diluted the company into the ground.
Surely you jest. 510k was straight up rejected.
Here's the PR to refresh you memory.
https://www.globenewswire.com/news-release/2020/11/19/2129752/0/en/Shareholder-Update.html
The first 510k is still on going and they have an extension to complete this test.
The first 510k was rejected. The second 510k will most certainly be rejected if they can't pass the cytotoxicity test. They can't continue to pass the blame forever.
Has not been rejected, they have an extension to complete this test. Let’s see what happens, they say they know why this happened and must have been fixed as they are conducting another test with results in a few weeks. Time will tell.
That would be believable if they passed the retest. They were in control of the "procedures" in the second go round and still failed. You have to be in serious denial that there appears to be something critically flawed with the safety of this device after being rejected by the FDA after waiting six years on the first application and now a twice failed cytotoxicity test a year and a half later.
At some point folks need to face reality regarding the incessant BS coming from this company.
That’s not correct, the original issue was a change in procedure for the actual test, it actually passed but FDA changed procedure for this test when they came to filing.
It does look like it failed new test, but appears to be a minor issue which they have identified, new test being conducted with results is a few weeks, so we will see.
No money in re-selling third party products from China that are a dime a dozen.
Typical red herring from Tom to take the heat off. He diluted the company into oblivion and now has the cash from the latest offering to sign a lease on a warehouse and buy a few machines from "overseas" aka China to give the appearance the company is doing something.
The ONLY thing of value is the 510k clearance for the DeltaWave. Failing a critical "cytotoxicity test" twice is the death knell for RMSL.
Yes but they just leased a new 10000 sq ft building for future CPAP sales . So what next?
And there you have it...not only failed the first cytotoxicity test, but failed the retest.
Nice touch in the PR that Tom says there have been no issues other than a "failed cytotoxicity test"...the crux of the safety of the device and the clearance/denial of the 510k.
https://www.globenewswire.com/news-release/2022/03/28/2411010/0/en/RemSleep-Holdings-Inc-Provides-a-Shareholder-Update.html
They're terrible at shareholder communication. Even with the new IR, she is pretty clueless and it sounds like Tom keeps her in the dark like the rest of us. Last we heard was that the testing was supposed to be wrapped up and results were to be provided a week ago. Did that happen? Who knows. Is it possible they did get those back and are now heads down reviewing everything and making sure the application is ready to go? Possibly. Would be great if they announced next week that it was back with the FDA for review. That would really generate some excitement and finally put this on a countdown.
Anyone else confused about what the heck is going on with RemSleep? Did they submit to the FDA or what??
I mean it's hard to argue with you because that's how I am looking at this now too. They tweeted about having the testing results completed and results in hand by the end of last week. Today? Nothing. No tweet on whether that happened or if they ran into more delays. The fact they aren't responding to emails on it doesn't look good either. They need to address this or this will fall down to .01s again.
Fluff PRs from Tom = FDA delays.
Always some generic BS to distract from the only thing that matters which is the 510k clearance.
They rolled out a website claiming to sell third party CPAP machines and products years ago and have ZERO revenues to show for it. Anyone can buy these products cheaper elsewhere online.
The only unique product they potentially have is the DeltaWave. Without the 510k clearance this company has nothing.
Yeah, I know. I am here for the FDA approval though, and it's been dragging since late last year of just getting this back into the FDA's court. Here we are in late March and still no definitive word on whether they have everything ready to submit or not. Just gets frustrating dealing with this company because they put these self imposed timelines out there and then never execute to them.
I feel your frustration. The entire OTC market this year has been a real killer. Just trying to stay positive. There has been some movement of some OTC stocks as of late. Hoping things are just starting to kick off instead of just getting skipped over this year. GLTU $RMSL
It's not with the FDA yet. That is what is bugging me about the news today. It's these periods where they say something will happen (e.g. testing results would be provided back last week) and then they just go dark until it's finally at a point where the concede a setback. Seen it too many times here and hoping this isn't going to happen again. I can't stomach another move to the .011 support area.
The news today should be pretty strong evidence they are extremely confident things are going to be approved very soon....GLTA
Yeah, but now they’re being quiet again on the testing and where things stand there. Hope it’s not another setback at this point but sorta surprised they haven’t followed up on last tweet about it saying results would be provided at the end of last week.
The United States has been experiencing a major shortage of availability for CPAP machines. This occurrence has been due to a recent recall from a well-known manufacturer, as well as global supply disruption and congestion, leaving many suffering from sleep apnea, quite alarmed.
RemSleep Holdings Inc. hopes to address this by providing CPAP devices to alleviate the ongoing shortage. To accommodate for the expected growth, the company has entered into a three-year lease to relocate to a 10,000 square foot office warehouse in Largo, Florida. The company is also looking to grow its staff as well as engage in a strong marketing campaign and website revamp for its product.
“These are exciting times for our company! According to online studies, 50 to 70 million adults in the United States have a sleep disorder and an estimated 22 million Americans are living with moderate to severe sleep apnea. With the current shortage of CPAP devices, the quality of sleep for so many individuals are being affected. We believe we can aide in addressing this by supplying nasal devices with our new agreement, and make our product easy to access and affordable,” said CEO Tom Wood.
Unexpected news today.
Tampa, FL, March 22, 2022 — McapMediaWire — RemSleep Holdings Inc (OTC PINK: RMSL), a medical device manufacturer dedicated to forever changing the level of treatment provided to obstructive sleep apnea patients, is excited to announce that the company has recently negotiated an agreement with an overseas manufacturer for the import of nasal CPAP machines.
The initial order of 1500 units has been placed and the shipment of nasal CPAP devices will be expected to occur in mid-April, with a large quantity of additional units being delivered in the months to follow. RemSleep Holdings Inc. is anticipating preselling the total units, prior to their arrival. This will directly bring positive sales and revenues to the company.
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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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