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Why Retrieve Medical Holdings $RMHI is a POS:
Originally, they filed 17 SEC filings and got current with Edgar/SEC
That brought a lot of attention to the stock.
Neil Reithinger (head of Eventus Advisory Group) seemed like a professional CEO.
The stock ran to a high of .2190 on 2-1-23.
OS at that time was 30M or so.
We were waiting for a merger announcement of some kind.
Then, out of the blue they did a 1-200 Reverse Split.
The stock immediately crashed.
What they did is Kill all the Shareholders in one blow.
The OS after the RS was 150,000.
It was unbelievable.....
We knew they would have to issue more shares to sell, which is what they did.
They issued 19M new shares.
And now they're dumping them on unsuspecting investors.
Since the stock price after the RS was about $6 (.03 x 200) that gives them a market cap of $114M (pretty nuts for a shell...lol)
They also filed a Form 15 which made them non-reporting with the SEC (convenient isn't it?).
So now they're not current with the SEC anymore.... Their reputation is now shit.
And fwiw, the current stock price ($2.50) adjusted from before the RS is: .0125 ...a 90% drop from .20
Also, the reputation of Neil Reithinger (head of Eventus Advisory Group) is now garbage.
OH....and currently they've probably hired an investment firm that is selling this crap to their clients. And also pseudo trading the stock in 1 share trades.....lol
Z
I've given up hope on that, and the contagion of thievery has started to take over small-cap NAZ issues as well.
At least they dropped the "D" here. We fly now???? lol
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This company is a Shell, and recently got Current with the SEC/EDGAR, with 17 Filings.
These filings needed to be audited, and that's very expensive.
We're guessing they spent upwards of $500K.
The CEO is also involved with a Nasdaq Stock ( $ORGS ) that is currentl doing a Spin-Off.
This Spin-Off got $110M in Funding. (See 8K excerpt below)
So that Spin-Off will likely move into the $PKPH Shell, and thereby become a Nasdaq Stock.
Share Structure: AS: 300M, OS: 78M, Float: 36M
https://www.sec.gov/ix?doc=/Archives/edgar/data/1460602/000149315222030824/form8-k.htm
On November 4, 2022, Orgenesis Inc. (“Orgenesis”), Morgenesis LLC (“Morgenesis”), a recently formed subsidiary of Orgenesis holding all the assets of Orgenesis’ point of care services business for treating patients (“POCare Services”), and MM OS Holdings, L.P. (“MM”), an affiliate of Metalmark Capital Partners(“Metalmark Capital”), entered into a series of definitive agreements intended to finance, strengthen and expand Orgenesis’ POCare Services business. Morgenesis will use the investment to develop and expand its POCare Services business globally, but with an initial focus on the United States. This includes the development of additional POCare Centers, as well as the Orgenesis Mobile Processing Units and Labs (“OMPULs”). OMPULs will allow Orgenesis to provide biotech companies and hospital systems with global cGMP supply for their cell and gene therapy products at the point of care, with the ability to rapidly grow and scale cell and gene treatments to keep up with ever increasing demand. Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders and executives, with a focus on healthcare, agribusiness, and industrials.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1460602/000149315222030824/form8-k.htm
At any time until the consummation of a Company IPO or Change of Control (in each case, as defined in the LLC Agreement), MM may, in its sole discretion, elect to invest up to an additional $60,000,000 in Morgenesis (any such investment, an “Optional Investment”) in exchange for certain Class C Preferred Units of Morgenesis (the “Class C Units” and, together with the Class A Units and the Class B Units, the “Preferred Units”). $10,000,000 of such Optional Investment shall be to purchase Class C-1 Preferred Units based on an enterprise value of $125,000,000, with such enterprise value adjusted by any net debt as of such time; $25,000,000 of Optional Investment shall be to purchase Class C-2 Preferred Units based on an enterprise value of $156,250,000, with such enterprise value adjusted by any net debt as of such time; and $25,000,000 of Optional Investment shall be to purchase Class C-3 Preferred Units based on an enterprise value of $250,000,000, with such enterprise value adjusted by any net debt as of such time.
