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This will run esp if NASDAQ is the plan.
Rennova needs money for operations.
You should send this to CD.
Tell him the CEO should cancel RS for now in order for RNVA to do it's thing.
Let him hear from another shareholder, a different voice.
It may not help but it certainly can't hurt. CD does have 51% control so it's not like we're communicating with someone with no power.
Your reasoning sounds good.
I'm fine with .002 and .005 is even better, of course.
I don't see the logic of the CEO's strategy either. The SP has to go up before year end.
Patience will be the virtue on this one.
Anything can happen, but I feel good about the near future.
Yeah. It does look a little ugly.
I know buyback is a dream and CEO is coming for our shares.
RS can't happen from here though. SP has to reach at least .0005 in order for RNVA to get back to NASDAQ. Page 10 of the NASDAQ Listing Requirements make that clear.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Let me correct myself Fernando.
You're right on the need for a buyback to get to NASDAQ if no RS. I just had to think about it. Sorry for my slowness.
I agree with you.
The CEO is stuck. He gotta move SP up and give shareholders some value in RNVA. There's no way around it. The free shares in Innovoqor is cool, but the value in RNVA needs to be increased soon.
I just checked NASDAQ requirements.
There doesn't appear to be a limit on OS but there is a fee schedule. The smaller the OS the lower the fees. Check out pages 13 and 14. I'm also waiting on a return call from NASDAQ (301) 978-8008 to confirm there's no max limit of OS.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
Thus, a buyback wouldn't be needed but I'd sure like to see one and cancellation of RS for now. CD reaffirmed in his email to me that CEO still intends to do RS but it can't be done from where SP is now. Merger news had some impact but and debt-swap did nothing. I'm not certain what can move SP with RS hanging over us.
If CEO wants the split then SP must get out the trips (attempt to rhyme here)!
Is there some max # of shares on NASDAQ?
Is that why you're saying the buyback would be needed?
I know the minimum to be on small cap is 1M shares, but I didn't see a max limit.
It's amazing how those .0002s never go away.
Market cap is tied to SP which needs to go higher if NASDAQ is the plan.
It's just that simple. The higher the SP the better.
You mean GRST?
It's also had a lot more SP movement especially since early June.
Appreciate the encouragement.
Numbers 1 and 8 aren't done yet.
The SP has to get to at least .0005 to meet $5M in MV once you apply the 1-for-10,000 RS.
CEO and his crew gotta allow that SP to rise up.
I also think they're sitting on the 10Q as well.
Every time .0002s get eaten up they come right back.
Looking forward to the day when they're gone for good!
Ok.
That's funny.
I think the 10Q is done too.
As I just explained, they need to get the SP up. The way I'm seeing this, there's just no way for whoever has been holding the SP down to continue to do so for much longer.
If they can't get the SP up, then cancelling the RS is the only way right now. The NASDAQ plans may have to be on hold for a minute. The main thing is shareholders will get some value, maybe not the pennies some of us are seeking but something!
Oh yeah! The higher the SP pre RS, the lower the ratio which leads to a larger OS which makes it easier to meet MV requirements.
Again, the SP can't stay here if the plan is to do an RS.
Azart, you may be onto something in terms of FINRA demanding some shareholder value before allowing this RS.
Let's hold on soldiers!
RNVA must meet NASDAQ Requirements to do RS!
Read page 10 of the newly revised NASDAQ Listing Guide to check out the small cap tier (the easiest one).
https://listingcenter.nasdaq.com/assets/initialguide.pdf
If the RS is 1-for-10,000 applied to 10B shares that brings the OS to only 1M. The SP would have to be at a minimum of $5 after RS. Not only do you have to meet bid/close price requirements, you also have to meet the MV for public shares (either $5M or $15M).
Ladies and gentlemen: This means the SP must go up, at least somewhat, from where it is now. The more, the merrier!
You may be spot on!
I hope you're not right about SP not going beyond .0004. I fear you might be, but I hope you're not.
Your RS sentiment is part of what I emailed to CD yesterday. He indicated that RS will happen as soon as 10Q is filed and Rennova is compliant. I guess we'll see.
I emailed CD at:
chris@structures.com
He emailed me back from:
noleman90@gmail.com
What about the RS?
Or are you back to arguing it's just a pump-fake to keep price down also.
I purposely didn't post CD's email address but if you want it, I will give it to you.
Thanks for this info.
I'll look into this.
You fail to mention one thing
He didn't have to answer my email. He could have simply ignored me like the other folks at RNVA.
My choice was already made before sending/receiving an email.
Remember, NASDAQ minimum for reentry is $4.
Like Backstabbed, I'm hoping for some kind of run before the RS.
Not sure why mngt filed the NT-10 for a 5-day extension when it appears they needed much more time to complete the 10Q.
Your prediction is based on what?
Even if it does hit .0004 or .0005, Penny will keep posting and he'll be happy.
You're welcome
I agree.
This is the 1st response I've received from anyone associated with Rennova.
Their publicity guy, Sebastien Sainsbury, never responds and I've never gotten anyone on the phone.
From his words, it does appear that the RS is gonna happen. However, his willingness to do the debt swap does make me feel better about remaining patient.
Just received an email response from CD (AKA-Our Savior)!
This is a great sign! Let's hold tight!
-----Original Message-----
To: simbasana1@aol.com
Sent: Mon, Jul 13, 2020 2:41 pm
Subject: RE: RNVA Stock
Mr. Sana,
Thank you for your email and concern for RNVA. While I am no longer on the Board of Directors, I certainly want to see RNVA turn themselves around and deliver value to shareholders. The Company owes me a good deal of money which has been converted to preferred shares, so I do have a significant interest in the Company’s success.
It’s no secret hospitals around the country (especially rural hospitals) have been severely financially challenged. Last year, 1 in 4 rural hospitals closed and this year we were going to see a similar statistic until Covid-19 hit. The Federal stimulus has allowed some of the these hospitals (including Rennova’s) to make ends meet. Frankly, survival has been the primary objective.
My understanding is the reverse has not occurred simply due to the accounting/auditing process not being current. I believe that is being remedied now. I trust Seamus will make the right moves for shareholders regardless of which direction he takes.
Thank you again for your concern.
All the best,
Chris
Sent: Monday, July 13, 2020 12:59 PM
To: Chris Diamantis
Subject: RNVA Stock
Mr. Diamantis: (Below is an email I sent to RNVA and Sebastien Sainsbury)
I'm emailing you once again about RNVA's stock. Over the past several months, Mr. Lagan has repeatedly mentioned doing an RS, but it has yet to occur.
The problem is that this "pending" RS is serving as a looming, dark cloud over the SP. All of Rennova's recent great news has failed to move the SP, because the RS is keeping folks way.
In light of the fact that the RS has not occurred and RNVA needs to add value to its' stock price, the split should be canceled, at least, for now.
This would greatly aid in Mr. Lagan's stated goal of getting back to NASDAQ. Rennova needs to add some value and credibility to its stock before it can do a truly effective split to gain access to healthier capital. A stock buyback program would greatly aid in this effort as well especially while the SP is so low.
RNVA's SP is greatly undervalued and the two aforementioned steps could easily remedy the situation.
Just a shareholder's two pennies!
Simba Sana
Freedom Enterprises
These summer months are shaping up to be quite interesting.
Correct me if I'm wrong, but CD must realize the value from the debt swap through the increase in SP of RNVA?
The SP has to eventually show the value from all the good things that have/are/will happen.
The hanging RS appears to be the only downside.
I really don't expect much from the Innovoqor thing.
I do agree with your sentiment that the RS should be cancelled to allow SP to run naturally then do a split at a later date if necessary. Of course, I'm viewing this from a shareholders perspective. I'm not privy to whatever the CEO's viewpoint is.
I guess the RS will get approved after the completion of spin-off merger or when it's announced how the free shares will be handed out.
That will be a nice place to get to.
Hopefully, one day this week or at least when more good news comes out.
Are you saying CEO's plan is to give us some value with free shares in Innovoqor or some value by increasing SP in RNVA or both?
Who the heck would sell 3M+ at .0001?
A buyback would be nice.
I just mentioned it in my email to the RNVA folks.
I'm almost certain there will be no response but at least they have heard from us.
Hopefully, bidding for .0002 will soon be a lost cause.
We have to ask/demand what we want!
I did my part with the following:
ssainsbury@rennovahealth.com ssainsbury@rennovahealth.com, info@rennovahealth.com info@rennovahealth.com,
chris@structures.com
Mr. Sainsbury or to whom it may concern:
I'm emailing you once again about RNVA's stock. Over the past several months, Mr. Lagan has repeatedly mentioned doing an RS, but it has yet to occur.
The problem is that this "pending" RS is serving as a looming, dark cloud over the SP. All of Rennova's recent great news has failed to move the SP, because the RS is keeping folks way.
In light of the fact that the RS has not occurred and RNVA needs to add value to its' stock price, the split should be canceled, at least, for now.
This would greatly aid in Mr. Lagan's stated goal of getting back to NASDAQ. Rennova needs to add some value and credibility to its stock before it can do a truly effective split to gain access to healthier capital. A stock buyback program would greatly aid in this effort as well especially while the SP is so low.
RNVA's SP is greatly undervalued and the two aforementioned steps could easily remedy the situation.
Just a shareholder's two pennies!
Mine is that the SP is going up!
It just feels that way to me and especially when the next bit of good news comes out. It may even start creeping up before.
By the way, I think George feels the same way.
I do think it's a mistake for mngt to keep the RS hanging over this stock. They should cancel it to allow the SP to get some legs up under it then revisit later if the goal is to get back to NASDAQ.
Thank you! I love haunted houses.
Not that I want RNVA to be one.
I've dreamed of owning one. I just had an idea, which I'm sharing here, to make haunted houses scarier. They should have select employees pose as regular patrons/visitors who allow themselves to get snatched up by a "creature" during the walkthrough so that other patrons think it can happen to them. That would make it real terrifying.
Would filing BK be a good move for CD?
I guess CD would buy it on the cheap in bankruptcy. However, he just wrote off 18M+ in monies owed for stock that would be rendered worthless in a BK.
How long would it take for him to recoup the 18+M he loses in such an action?