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Word up...boooom goes the volume
Imho
Mj
Nice to see Rnva taking in some volume. :)
What comes next?!?
Imho
Mj
Foxo taking in more volume...Looks like green over there again today.
Imho
Mj
Looks like amended filing, filed...
Imho
Mj
No news?...lol
imho
mj
It's getting hot in here...
Imho
I am loving the ot some folks are putting in here...especially those with non interest in the company and trying to save everyone. This board getting support from all different directions.
Imho
Mj
RNVA, our little EM ticker up there in both breakout and most read boards today...even if they aren't posting folks are keeping a close eye here.
What comes next?
Imho
Mj
Yea been excited for a minute on this one... :) Not sure what you are referring to on the cellar boxing thing...attention spans are getting shorter and shorter these days...lol
Best of luck in your trades.
imho
mj
Wow...read the first few lines and then just scrolled the rest. Folks putting in that ot again tonight...haha
It could be 62 reverse splits. Main thing for those with the right timing is that the company survived. These rural communities need the services that RNVA provides. Excited for the next chapter here.
Imho
Mj
Vol hitting FOXO a bit again today...I see greeeeen!
Imho
Mj
All sounds pretty positive. Thank you for the tidbits regarding Bluebox, etc...Very much appreciated as always. Encouraged and looking forward to seeing what the future holds.
Imho
Mj
$FOXO Taking in some volume again today... Green!
imho
mj
Morning all! Another day closer to seeing how all of this plays out. Tick tick tick.
Imho
Mj
Maybe we don't trade on the OTC for too much longer? :)
imho
mj
Interesting insight...Sounds reasonable. Also if things play out in our favor...which at this point I can't see how they don't...you will have another Bourbon coming your way from over here as well. Your efforts have been and are very much appreciated.
imho
mj
Do we see a pr from this side tomorrow? How did this deal close without audited fins? Or do those come this week as well?!?!
Imho
Mj
"We expect to generate annual revenues in excess of $20 million from these acquisitions, with the potential to reach over $50 million in the next 24 months. Our relationship with Rennova opens additional opportunities to expand FOXO’s technologies in the marketplace, and we believe this is a turning point for FOXO and its shareholders.”
Imho
Mj
Foxo Technologies, Inc., Completes the Acquisition of Revenue Generating Operations From Rennova Health, Inc.
Source: GlobeNewswire Inc.?
FOXO Technologies Inc. (NYSE American: FOXO) (the “Company”), today announced it has completed the acquisition of the second revenue-generating operation from Rennova Health, Inc. (OTC: RNVA) (“Rennova”).
The Company had previously announced it had entered into two share exchange agreements with Rennova. The first agreement was to acquire the equity in Myrtle Recovery Centers, Inc., Rennova’s behavioral health services subsidiary. Closing of the Myrtle transaction occurred on June 14, 2024.
The second agreement was to acquire the equity in Rennova Community Health, Inc. (RCHI), the owner of Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center), a critical access hospital in Tennessee for $20 million of Convertible Preferred Stock in FOXO. On September 10, 2024, the Company entered into an Amended and Restated Stock Exchange Agreement with Rennova to amend the Stock Exchange Agreement dated June 10, 2024, to change the consideration to be received by Rennova in exchange for all of the equity interests of RCHI for $22,000,000 of intercompany Rennova debt and $100. Under the Amendment, RCHI issued a senior note to Rennova in the principal amount of $22,000,000 (subject to adjustments) which will be secured by all of the assets of RCHI, with the Company and Scott County Community Hospital, Inc., a Tennessee corporation, providing a guaranty on the Note pursuant to a Guaranty Agreement dated September 10, 2024, and with the Company providing a security interest in the “Collateral,” as defined in the Pledge and Security Agreement dated September 10, 2024, with Rennova. The Amendment grants RCHI the right to request the Company to exchange the Note into $20,000,000 of Series A preferred stock in the Company.
“We are pleased to have completed these healthcare-related acquisitions from Rennova,” said Mark White, Interim CEO of FOXO Technologies. “These transactions align with our core strategy of improving healthcare and well-being while significantly boosting our revenue. We expect to generate annual revenues in excess of $20 million from these acquisitions, with the potential to reach over $50 million in the next 24 months. Our relationship with Rennova opens additional opportunities to expand FOXO’s technologies in the marketplace, and we believe this is a turning point for FOXO and its shareholders.”
Myrtle Recovery Centers, Inc. is a 30-bed behavioral health facility in East Tennessee. It provides inpatient services for Detox and Residential Treatment and outpatient services for MAT and OBOT Programs. The facility was opened in August 2023 and is in the final stages of securing in-network contracts with various insurance company payers. We anticipate growing this business to having profitable annual revenues of approximately $3-4M and plan to duplicate the model in different locations. Further information can be found at www.myrtlerecoverycenters.com
Scott County Community Hospital, Inc. (DBA Big South Fork Medical) is a critical access designated (CAH) hospital in East Tennessee. 2023 revenues were approximately $18.5M and EBITDA for the facility was in excess of $6M. Further information can be found at www.bsfmedical.com
FOXO Lab’s Inc. (FLI) is a biotechnology company dedicated to improving human health and longevity through the development of cutting-edge technology and product solutions for various industries. FLI’s epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. FLI is committed to leveraging the latest advancements in science and technology to help people live better, longer lives. For more information about FLI, visit www.foxotechnologies.com.
About FOXO Technologies Inc. (“FOXO”)
FOXO owns and operates three subsidiaries.
Foxo Lab’s, Inc. is a biotechnology company dedicated to improving human health and longevity through the development of cutting-edge epigenetic and AI technology and product solutions for various health and wellness market sectors.
Myrtle Recovery Centers, Inc., a 30 bed behavioral health facility in East Tennessee. Myrtle provides inpatient services for detox and residential treatment and outpatient services for MAT and OBOT Programs.
Rennova Community Health, Inc., owns and operates Scott County Community Hospital, Inc. (DBA Big South Fork Medical), a critical access designated (CAH) hospital in East Tennessee.
For more information about FOXO, visit www.foxotechnologies.com.
Forward-Looking Statements
This press rel
Still a couple weeks left in Q3. Tick tick tick...
Imho
Mj
Good Morning all...not many business days left in Q3. Do they get this thing wrapped up..or does it push out to Dec?
Imho
Mj
RNVA The wheels continue turning. There is potential for this to be an incredible OTC comeback story. The fins say it already is...Let's see when the price shows it...
imho
mj
On watch!
Imho
Mj
I would be here for the kaboom as well thank you. :)
imho
mj
Yes I guess we shall see. It seemed the successful trial with Bluebox could potentially lead to something so I am holding out some hope there even though they just recently used someone else in their last airline deal...I believe it was PLAY/MOST or something along those lines. Time will tell.
Imho
Mj
Looks like the heat is on...progress on the merger front with the new 8k...Lets see what comes next.
Imho
Mj
Did they bring in the B team on us..lol?
Imho
Mj
Guide us in Big Bird...
Imho
Mj
Almost half way thru Sept! Let's make it a Christmas to remember.
imho
mj
From LinkedIn:
Myrtle Recovery CentersMyrtle Recovery Centers
50 followers50 followers
6d • 6 days ago
💙 Myrtle Recovery Centers is O N E 💙
We are excited to have celebrated ONE WHOLE YEAR of Myrtle Recovery Centers accepting patients and providing outstanding care & guidance to those on their recovery journey. 🙏
We also celebrate the Myrtle team members that have been with us from Day 1, and those who have joined us throughout the year on this new adventure. We are so proud of everything we have achieved, the challenges we've overcome and the lives we've changed. 💙
As we continue to grow and refine things, we look forward to an exciting year ahead. Thank you to our team at Myrtle for all you do on a daily basis - our program would not be what it is without you all! 💚
Thank you Baby J's Pizza for helping us celebrate with delicious pizza as always. 😍🍕
If you or a loved one are struggling with addiction, please don't wait. We are here for you 24/7 and only a phone call away. (423) 569-7866 ☎️
Go time!?!?
Imho
Mj
"The second transaction, which is expected to close in the third quarter of 2024"
Maybe + or - a few weeks or a month due to payroll issue being resolved?
Possibly end of Sept for the closing of transaction #2?
tick tick tick...
https://www.indherald.com/2024/06/26/bsf-medical-center-parent-company-announces-stock-exchange/
imho
mj
RNVA tick tick tick tick tick tick
Imho
Mj
Q3 in the books...I wonder how much longer until we see the next piece of the puzzle. Hopefully before the Dec deadlines.
imho
mj
Tick tick tick...
imho
mj
RNVA on watch from now until EOY. Let's see what shakes out.
imho
mj
'Perfect storm for cash flow': How this hospital missed payroll
Kristin Kuchno - Wednesday, September 4th, 2024
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Big South Fork Medical Center in Oneida, Tenn., saw a 30% drop in cash received in June and July compared to previous months, which then delayed its Aug. 16 payroll, CEO Hal Leftwich emailed to Becker's.
The hospital, owned by West Palm Beach, Fla.-based Rennova Health, confirmed its Aug. 30 payroll went out on time.
An internal email posted on Facebook by an employee showed Rennova's vice president of human resources informing employees that "payroll is not fully funded."
The hospital's Aug. 19 statement, posted on its Facebook page, cited a drop in payments from payers, including Medicare. The decrease in payments stemmed from numerous causes, all of which have been rectified, Mr. Leftwich said.
For example, Mr. Leftwich said Medicare withheld payments for nearly two months awaiting answers to questions on its annual cost report filed May 31.
"In what became the perfect storm for cash flow, two other major payers had imposed a 100% claw-back because the appropriate hospital staff did not receive and have an opportunity to reply to notifications received," Mr. Leftwich wrote to Becker's. "All payer-related issues have been rectified in August and we expect to see payments received returning to normal in September."
Big South Fork has run into this issue before. The Independent Herald reported in March 2021 that employees had not been paid for six weeks.
"We are proud of what has been accomplished at Big South Fork hospital in the past few years and while months like the past two are uncomfortable, they are a reminder of how quickly a rural hospital can exhaust a cash flow that is vital for many local families," Mr. Leftwich said.
https://www.beckershospitalreview.com/finance/perfect-storm-for-cash-flow-how-this-hospital-missed-payroll.html#:~:text=Big%20South%20Fork%20Medical%20Center,Hal%20Leftwich%20emailed%20to%20Becker's.
imho
mj
Morning all...news soon?
Imho
Mj
It could be someone wanting the tax loss?
Imho
Mj