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FOXO closing green again.
Financials included with stock exchange agreement filed with the SEC.
It's a process - an independent audit of current financials on both ends to close the transaction, SEC review of audited financials and transaction, and then exchange listing registration statements.
I can't think of a reason why RNVA shouldn't heat up and begin churning its way into a breakout. Out of the 000s on CURRENT valuation then to pennies on continued growth, no speculation required. Earnings make the world go around.
Looks like that's where Lagan is going with that situation. He has something in mind for the medical information technology piece. It's a three legged stool - Rennova (CAHs), Mytrle Recovery Centers, and FOXO/InnovaQur medical information technologies. INQR RM maybe?
No explaining what the market does sometimes. I haven't read anything about the terms, but preferred shares are typically restricted until a specified conversion date with an expiration date on the conversions. The bottom line is Lagan and the RNVA BoD control the whole kit and kaboodle (Rennova, Myrtle Recovery, and FOXO Technologies including the NYSE listing).
FOXO picked up some support today. Both FOXO and RNVA should be heating up.
It's easy to see from the trading pattern, RNVA has been meeting or exceeding the buyback schedule on what's left of the old preferred share warrants. $10 million retires them all. RNVA will easily exceed $10 million in earnings this year. This is bound to be amended and/or completed way ahead of schedule:
https://ir.rennovahealth.com/all-sec-filings/content/0001493152-24-011345/form424b3.htm
Need some buyers in this house.
Meanwhile, $20 million in buybacks of old corporate equity in progress. Do your reading.
PPS could be spent on pretty much any legitimate cost of doing business. Much adieu about nothing.
RNVA also had an independent audit of PPS done to prove their case with the feds. I don't remember if the former employee filed a private suit too, but that could be what the mediation was about.
The "whistle blower" was a disgruntled former employee with no knowledge of PPP use. The guy got mad and filed a complaint because he thought PPS would save his job, but his job was already on the chopping block before COVID. That went nowhere, dropped, no federal action. Plus, PPS had nothing to do with debt reductions paid from 2023 profits.
The point is that drastically oversold OTC market conditions forced RNVA to issue many times the number of shares it should have had to issue. The current EPS and PE have borne that out.
It HAS panned out already! RS totally of the table now. No ,more trash talk. Time to buy, buy, buy.
$5.2 million 2023 earnings/43 billion shares=EPS .00012 or a PE of 0.83. All went into debt reduction and corporate equity buybacks. Over $10 million in corporate equity buybacks this year. What more could a bargain hunter want?
Massive OTC short selling in 2022 artificially diluted this stock.
Jay, he turned the company around two years ago. Getting a little tired of the malicious posts.
Current PE = 0,83!!! Wake up and smell the profit!
With a 2023 PE of 0.84 ($5.2 million earnings on 43 billion shares at .0001 per share), volume in the billions will be no surprise to me. RNVA should be trading at a PE of 20 or better.
It means RNVAs CEO gets a crack a commercializing the patents without impairing the Rennova bottom line, something FOXO did not have the capacity to do. If he can, the asset value of the patents grows with the revenues they generate. (An accountant could explain how that works.) If he can't, so what, he still will have managed heal Rennova's financial structure, under a NYSE listing no less. I'm very curious about the role INQR might eventually play in the "grand scheme," because INQR seems a more logical home for the tech patents.
Reviewed FOXO financials. Impact on RNVA cost/revenue ratios will be negligible. RNVA gains controlling interest in two patents and five patents pending to FOXO for bioinformation technologies that can be applied synergistically with Rennova, Innovaqor, and Myrtle. NYSE listing to boot.
$20 million RNVA current plus $20 million from FOXO = $40 million.
Trading on the light side all indices today. Triple witching day Friday.
New eyes on RNVA - eyes of quality investors who care about the fundamentals. 2024 earnings will easily reach $10-12 million without Myrtle on the books. Myrtle should do $2-3 million in earnings. Earnings have all gone into debt reduction and corporate equity buybacks.
Quality investors who do their DD going back to 2022 will understand those to be reliable minimum estimates for 2024. The Q3 2023 bottom line was a bit deceptive in that Myrtle numbers were all startup ahead of revenue. $3.7 million earnings in Q4 reflect a cost/revenue ratio coming back in line as Myrtle approached breakeven.
I'd bet you volume will break a 100 million today, maybe 200 million. A single modest, but serious, investor could do that at any moment.
Big bucks. The SEC has all the info we have and more, and RNVA is still pink. I've tracked the earnings reports since Rennova received the CAH certification which dramatically revenue/cost ratios. Based on the startup timelines, Myrtle could not have reached breakeven until late in Q4 at the earliest. In other words, RNVA (Rennova Healthcare CAH) is on track to reach $12 million in 2024 earnings even on a flat trendline. Anybody who does their DD at this point and doesn't buy RNVA will regret it.
$3.7 million earnings in Q4! ($5.2 million minus the $1.5 million through Q3) RNVA is profitable as hell!
Trendline points sharply upward.
We know from the M/A filings RNVA's 2023 earnings were $5.2 million. That is a current a P/E ratio below 1! A P/E ratio of 20 is typical in the healthcare industry.
The more we learn, the more illogical they get. RNVA gains controlling interest in FOXO, brings the balance sheet in line, and settles the financial structure for years to come. It's just nuts to throw a wet blanket on it.
I post facts and opinion based on facts as the facts are updated. You have been posting the same misinformation for years. You are always wrong.
RNVA has been profitable for more than six quarters now with earnings still growing. "Wen" are you going to admit it?
Four years ago.