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Did nextplat not have an annual shareholder call? I thought Fernandez got dinged last year by the SEC for being non compliant on that. Apologies if I’m misremembering specifics
It certainly makes sense to have same audit firms moving forward and is likely the main driver, but my head canon is this is a fallout from the late filing too. Both companies got screwed because of it.
To say the stock will “never” recover is a bold statement. That’s what old posters like straighttalk and Spider used to say before big runs came after.
I don’t have any skin on the NextPlat side currently, but this price is ridiculous (just like RXMD). They have more cash on hand than the current market cap. That’s rare. Nothing from a financials fundamental standpoint warrants this. Turnaround should surely come.
In my humble opinion, I don’t think more PRs would have done much for PPS. Business is doing fine, but it doesn’t seem like anything major has changed operationally warranting PRs. Yes, they’ve added more 340B contracts, but that’s not going to sway most people. So I don’t think they’ve been purposefully hiding info in that regard.
I’m with SW in that the failure is the lack of conference calls to communicate the future of the company We haven’t had a conference call since Q3 2022. We got a RS over a year ago and then were hung out to dry without much explanation. A lot of people don’t trust Fernandez at this point. Mars was able to generate a lot of trust from investors through regular communication and having a positive future outlook during every CC. And we knew she could be an advocate for shareholders. That went a long way to keep price up even though company wasn’t as well positioned financially as it is now.
Thanks for correction. I keep forgetting about that addition
Just as clarification I believe combined annual revenue will only be about $60 million. RXMD had their second half revenues included in NextPlat’s financials and NextPlat’s annual revenue portion was only about $11 million.
Which for such a big boost to NextPlat’s revenue figures, seems like shareholders are getting the short end of the stick regarding potential share conversion.
A shareholder call would be perfect to clarify all this….
The two combined companies will have $26 million total in cash and hardly any debt. They are very well positioned, and I still like to think that despite the lack of communication lately, there are smart people on both sides.
I believe plenty of good things are still to come here. May just keep taking some time, but I can be patient.
So that was you who sold 3,000 shares near the top and helped stop the momentum?
I was talking about break even from a net profit standpoint, not cash on hand.
I don’t think NextPlat is transferring an impairment. The $13 million in goodwill is related to the takeover by NextPlat of RXMD which was finalized July 1. The one confusing thing to me is why the full $13 million wasn’t on the balance sheet as of Q3. They only had $3 million in Goodwill recorded at that time.
I’ll admit Goodwill is outside my wheelhouse. Auditors obviously found certain assets to be valued less now, leading to the impairment. Ultimately it didn’t really impact balance sheet, but of course makes net profit looks atrocious.
I’m willing to somewhat ignore it since it’s a non-cash impact. Same as that $5 million debt conversion expense. Take those two away, and they nearly broke even for the year. Other metrics such as EBITDA were net positive.
My other takeaways are cash on hand is up, revenues up nearly $10 million YOY, and margin trending above 30% thanks to more 340B revenue. Business still side looks good. Management now just needs to communicate with shareholders where they plan to go from here.
I’m guessing it’ll either be out today, or by tomorrow morning at the latest, assuming they do one
I’m still skimming through but they had a $14 million goodwill impairment loss added last quarter. Goodwill testing was reason for filing delay in the first place
Blaming fernandez for all of this is comical. He can only do so much. This whole situation is more on Cecile and the accounting team since they’re the ones working directly with the auditors to get the financials in order. The onus is on both sides though to make sure this gets done on time.
I’m sure Fernandez ain’t happy since NextPlat has had to delay their filing as well. Fingers crossed they decided best to release financials on a Monday as opposed to Friday since they technically have until 15th now.
Lessons will hopefully be learned from this to avoid a late filing again next year.
Impairment analyses, especially around Goodwill, can be tricky. There are worse reasons for them to be delayed with the filing, but still not happy they didn’t get this done on time. Just adds another layer of unneeded frustration.
Well you typically don’t release financials before market open. You do it after hours. 10K should be out this afternoon after close.
And if they did, I’m sure the spin would have been they only released on Good Friday since numbers are bad. Darned if they do, darned if they don’t.
Regardless of how one feels about company right now, the market cap is a joke. Definitely undervalued based on financial position alone.
Stock price is dropping yes, but business itself is still fine. It’s not like they’re closing pharmacies and revenues are declining.
Balance sheet is clean, revenues are steadily improving and so are margins as they expand more into 340B. As always though, we continue to wait for consistent net profitability.
The company is set up for the next phase of growth whenever Fernandez and management want to wake up. The longer they stay silent though, the lower the price will continue to go, unfortunately
They may not be in a hurry, but investors have been waiting on uplist for four years now, going back to when initial S1 drafts began
I agree Market cap is a joke at these levels, but all driven by no news and continued silence by the new management team. I don’t blame anyone for being skeptical. Won’t lie, I’m still somewhat bitter about the RS over a year ago with no follow through, as we continue to sit on the OTC.
Business is still solid though. Margins are improving. That’s what keeps me hopeful that maybe, just maybe, this is all going to come together soon.
Float is tight too. This has been walked down on incredibly low volume
You may want to hold onto those Capt
They need to somehow become a differentiator in the healthcare/pharmacy space. CVS and Walgreens stocks have both been dragging the last two years. I don’t think buying more pharmacy locations is necessarily the way to go. I thought there would be more progress with ClearMetrx by now, but no idea where things stand with that. I know they are trying to focus much more on 340B which has been crucial for their improved margins
Maybe they’ll come out and say they’re exploring implementing some form of AI technology ;)
Right, they have almost double the amount of assets compared to liabilities now. Prior to the toxic debt elimination, their debt ratios were quite scary to look at.
They may very well be working hard behind the scenes on potential M&A, etc, but the lack of communication makes it seem like they have no idea what they want to do with this company. The whiplash of being close to Nasdaq uplist, to it being delayed, to getting new leadership and investment funds, to total silence has been devastating here. I haven’t bought new shares in a long time. They start showing some promise again and actually talk to shareholders, I’ll happily buy. Until then, I’m just holding and waiting. They are truly set up for growth and new revenue opportunities whenever they decide they’re ready.
At this rate though, even Fernandez’ shares will be in the red soon.
They’re probably one of the more well positioned companies on the OTC. They really need to make the next big jump with increasing revenues though. While revenue has continued to go up the last few years, it’s basically been minimal/stagnant growth.
It’s not exactly an earth shattering prediction to say an ofc stock price is going to drop with continued lack of news.
Charles and others already have plenty of shares valued below current SP. There’s little incentive for them to purposefully tank at this point. They will make bank if they can deliver here.
All true. What’s missing here is shareholder communication and clearer understanding of the company direction moving forward. How do they plan to grow this into a $100+ million revenue generating business? They’ve been stagnant in the $40 million range for too long now.
Need to put all that NextPlat injected cash to good use.
I hope they are definitely feeling the heat. Cleaning up the toxic debt and balance sheet has been huge, but it’s go time now to get the P&L in a better place now too.
The fact is as long as we remain on the OTC with no news releases/shareholder communication, volume and price will continue to remain dismal.
There have also been no meaningful operational moves (ie acquisitions) since before Covid to substantially increase revenues. It’s like they’re just going through the motions. Sure they’ve improved their margins with more 340B contracts, but they’re going to have to make some major moves eventually to bring on new investors.
One would think, but you’d also think they would mention that in the PR if that were indeed the case.
Seems like next update won’t come until end of March when the annual 10K is released. Sigh…
Why they (NXPL and RXMD) continue to sit on an abundance of cash even though the balance sheets for both companies are clean now should continue to the biggest question.
The payoff of that CV debt can’t be ignored. It was huge to get the balance sheet cleaned up.
The question that needs to continue to be asked though is why that money continues to sit in the bank account over a year later. Between the two entities they have a ton of cash just collecting interest. Really need to see that money be put to use sooner than later.
I’m glad you’re at least admitting what we’ve already known, in that you think this will move up again at some point.
When you go to the extreme like they have with no communication over the last year, you have to make sure that first PR is pretty darn significant.
Just need Fernandez to move a bit towards the middle of those two styles, from a communication standpoint
You seriously think he’s just here for the giggles?