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You're not making any sense!
What Backstabbed stated below makes more sense:
It’s a rare OTC occurrence that a lender exchanges all his debts for company shares! Which means if the lender owns 51% of the company based on ~$18.5M debt extinguishment, then he has the company valued at around ~$37M+ dollars!!!
That would put us at a MC of $37M and a PPS of ~$0.0037!
A long way to go from $0.0001 x $0.0002
Patience and you'll see it!
I sent this email to RNVA (ssainsbury@rennovahealth.com)
Mr. Sainsbury:
Yesterday's 8K on the official debt swap with CD is big news!
Please issue a PR so the news can spread wider and faster.
This is exciting news for RNVA.
Blessings to you!
Note: He never responds but it couldn't hurt, lol.
Why would someone be selling at .0002?
A PR would help speed things up but I can wait.
1st buy at .0003 at 9:35am!
A PR couldn't hurt and would reach more folks.
FCEL had a huge jump after RS was announced.
In that case, the RS was cancelled.
The point being that stocks can still spike even though a RS is pending. Besides, the SP would have to increase even with an RS to get the SP to $5 or $10. $4 is the minimum to get back on NASDAQ. Also, the market value must be $45M.
With RNVA, the RS can't happen right now because the company is not compliant (missed filing deadline).
How long does CD wait before converting to common?
Love it, but I'm not the best one to ask.
I yield to the veterans on here. I'm just a relative newbie with fresh energy trying to get some of the tired and wayward veterans across this finish line, lol!
George is Back!!!!
How does this 8K impact OS/Float?
Well elaborate on this.
And of you feel real strong on it, are you gonna sell tomorrow before all your money is lost?
Damn George, I generally like your posts. What's going on?
Who cares about a 10Q when you got this 8K?
YEE-HAW!
Let's get things moving!!
The following guarantees CD 51% control.
From 8K:
Regardless of the number of shares of Preferred Stock outstanding and so long as at least one share of Preferred Stock is outstanding, the outstanding shares of Preferred Stock shall have the number of votes, in the aggregate, equal to 51% of all votes entitled to be voted at any meeting of stockholders or action by written consent. Each outstanding share of the Preferred Stock shall represent its proportionate share of the 51% allocated to the outstanding shares of Preferred Stock in the aggregate. The Preferred Stock shall vote with the common stock and any other voting securities as if they were a single class of securities.
Azart, do you feel a little better now?
Debt off the balance sheet! I like it!
So well stated!
Please stay patient with this!
I'm disappointed about the late 10Q but we know it's coming along with other things.
You may need to step away from it for a bit so it doesn't keep frustrating you.
Like others, I see this as a when not if.
That's OK.
To get back on the NASDAQ, the minimum price must be $4 and market value of $45M (I assume that is market cap but not certain).
In other words, the SP must go up before a RS. That's what I'm waiting on.
Agreed!
Yes indeed.
I've stopped looking at it during the day. I check this board AH and Rennova's site for the 10Q.
I may add a few more shares if it stays here much longer.
It would be great if PR issued on it.
I agree.
Taking the CEO's words with a grain of salt, he did state, in his 6/23 interview, that the 10Q was close to being done.
I sense several things in the works will get the SP moving soon.
CD wanting and the board already approving his 51% ownership is big. They just need to make it official. Though struggling, RNVA has real assets and some support to push forward.
You're right but it's calendar days not business days.
See SEC Rule 12B25 below:
or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be ?led on or before the ?fth calendar day following the prescribed due date
The extension was for 5 CALENDAR days.
That deadline was yesterday because the holiday and weekend pushed it to Monday.
I guess mngt and their accountants couldn't get it done. Perhaps, SEC may be lenient on deadlines during this Covid period.
That would be nice in the short term.
But the stated goal is to get back on NASDAQ to gain access to healthier capital, so I don't see the CEO cancelling anything. RNVA needs more money to fund operations, etc.
I do think RNVA will run but...
Where is the cash outside of CD's bank account?
I agree that the filing shows intent.
I hope you're right on the rest.
The purported debt swap could do the trick.
Yeah, I hear you, but...
Forget about us! Why even file the NT10 if they aren't going to meet the deadline? Not sure if they can file another NT10 tomorrow.
They need to be current with the filings to get approved for the split. The RS is needed to gain access to badly needed, non-toxic money.
Regardless, I do agree that an uptrend is coming.
Still looks bad IMO
I agree. I've stopped looking at it.
I simply check on the 10Q and sometimes come to this message board to check on tone, etc.
I made the mistake with OPTI and CAPR of getting impatient, jumping into something else and missing the run up. Not this time!
Original extension was up on July 1st but the NT10 they just filed gave them a 5 calendar day extension. The holiday and weekend gave them a few extra days but the deadline is today.
RNVA better get that 10Q out today!
Today is the last day based on the extension from the NT-10.
Let's get this 10Q out so we can move on!
I'm with you!!!
Ok. I appreciate the details.
GLTU
What is your assertion based on?
OPTI is even better!
11,360% from 6/12 (.0005) to 7/1 (.0568)
I like that normal!
Come on RNVA!