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Big Al and Faith never even let their THER shareholders know what was happening and instead allowed their shareholders to go to zero.
>>With BACK already in possession of such assets of Theralink, and a merger with Theralink no longer necessary to acquire such assets, on May 6, 2024, BACK, IMAC Merger Sub, Inc. (“Merger Sub”) and Theralink entered into a Termination Agreement,
https://www.globenewswire.com/en/news-release/2024/05/07/2876737/0/en/IMAC-Holdings-Acquires-Assets-of-Theralink-to-Continue-Precision-Medicine-Business.html
Well, it doesn't look like there's going to be any discussion here or learning. At least try to remember the posters here who pumped away at retails expense.
Signing off.
LC
Looks like it's a shell now. Big Al's specialty.
>>The reporting requirements are detailed in the Securities Exchange Act of 1934. They are extensive and can be burdensome for small publicly-listed firms. Some of these experience very little trading of their stock on the public exchange. Ownership may be dominated by a single family or by a small group of investors. For such circumstances, the benefits of being a public company may simply not be worth the time, money, and effort of preparing and filing periodic reports to the SEC.
>>As soon as the voluntary Form 15 is filed, the company is no longer required to make the principal filings required by the SEC. These include the annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.
The real question is who gets to keep shareholders money?
WHY are they doing this?
But isn't it amazing that a company does not need to consult with their shareholders on such a move. Looks to be finished.
Hard to know without the CEO providing any input. Thanks Faith. It's already on the OTC so...Under 300 shareholders the filing might set up for a back-end merger. Or the merger is off and they just go dark for cost savings or both. The other possibility is they go private. This move appears to benefit that one large owner. They still need to report at least annually along with some other filings. But Faith should tell her few shareholders what's going on.
What does that mean for THER share holders?
Faith no more! Theralink going dark. Great work Faith, Mick and especially Big Al. That's quite a track record you've made for yourself. LOL
FORM 15
CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Approximate number of holders of record as of the certification or notice date: 237.
Have faith??
The new CEO lady is doin a bang up job!
>>On February 29, 2024, the Debentures became due and payable and the Company failed to pay the principal amount of the Debentures. As a result, an Event of Default occurred under Section 8(a)(i) of the Debentures. Upon the occurrence of an Event of Default, pursuant to Section 8(b) of the Debentures, the outstanding principal amount of the Debenture, plus accrued but unpaid interest, liquidated damages and other amounts owing in respect thereof through February 29, 2024, became, at the election of the holders of the Debentures, immediately due and payable in cash at a mandatory default amount of the sum of (a) 130% of the outstanding principal amount of the Debentures, plus (b) 130% of accrued and unpaid interest hereon, and (c) 130% of all other amounts, costs, expenses and liquidated damages due in respect of this Debentures. After February 29, 2024, the interest rate on the Debentures shall accrue at an interest rate equal to the lesser of 16% per annum or the maximum rate permitted under applicable law until the amounts due under the Debentures are fully paid. The current balance due under the Debentures is approximately $20.1 million.
Should change symbol to YAWN.
How do you figure? My read is that all THER shares convert into .00013365…. shares of IMAC (BACK)
That’s what my math says, too
You will have THER shares plus IMAC shares.
LCJR
1,000,000 / 30 = 33,333 shares.
How are you doing the math?
LCJR
It would been so simple if they had just declared a market cap instead of all the crazy calculating and splits.
That is 1m THER is 133 after merger hope am wrong
This is not a good deal for me for every 1 share of THER I will get 0.0001336590 of #IMAC nah
New S4/A posted today:
https://www.otcmarkets.com/filing/html?id=17179108&guid=yjJ-keXhzjIqJth
LCJR
Looking good. Would explode if we got news on the merger.
LCJR
$THER - News Out!
https://www.otcmarkets.com/stock/THER/news/story?e&id=2720560
LCJR
0012. Getting closer to merger closing.
LCJR
.0009. A pure pump and dump.
Merger with $BACK happening any day now. Can’t wait!
LCJR
There goes the pump and dump.
Well, at this point I guess it doesn't make a difference, but getting their share structure right should've been done long ago.
"About to complete"
Why cap off the AS when they’re about to complete this merger with $BACK? Everything will change once that happens.
LCJR
Only? Currently they have practically an unlimited amount of authorized shares to dilute shareholders to hell. They need to cap that before anyone serious is going to hold this stock. What revenues?
That’s going to happen according to the filings the SEC is reviewing. However, even without that I’m not understanding your definition of a “retail trap.” The unrestricted share count is only 522,540,919. This is a real operating company with revenues about to close on a huge merger with another company currently listed on the Nasdaq exchange.
LCJR
Until they officially change the share structure this is a retail trap.
No doubt....but there are catalysts that could get a pop going. And that's all I'm looking for here....not looking to marry it.
Eye rolls. Nice pump and dump.
Loaded up....let's get this party started already!
$THER - we should hear something from the company this week regarding comments and responses to SEC. Merger and uplisting is on us, are you ready?
LCJR
Damn, did you really need to sell those 14s for a whopping $900 ?
LCJR
I posted earlier that I emailed them requesting a meeting and never heard from them. But right after I emailed them they put out that last PR. If they would respond I would gladly drive the 1 1/2 hour drive to meet with them.
LCJR
Thanks. I have no ability to PM here, but I’m
Interested if you visit their HQ.
That’s correct, but the uplifting to Nasdaq is also part of the merger. If they have everything approved by SEC, upon completion of merger, this could open up on Nasdaq with a PPS over $2
LCJR
So then, the Unrestricted stock available to trade will only be 17 million?? THERALINK will survive as a wholly-owned subsidiary of IMAC. So, we will still have THER shares, but reduced in number by 30x??