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RNVA will run once mngt/Seamus
gets those select few to stop diluting to allow the SP to increase on good news.
Based on pg 29 of 10K, it's those who are diluting who are making that .0003 wall so big. Those folks need to fall back and not be short-sighted so the SP can run a bit.
I think this is gonna happen soon, perhaps this month. Seamus will have to put the word out to those folks.
All those are potentially good.
However, I don't see the SP getting high enough to get back on NASDAQ which Seamus stated is the goal in order to attract more investors (hopefully the healthier kind).
I see your point.
I also don't think an RS will happen soon.
However, they will have to do an RS before the year-end deadline if the plan is to get back to NASDAQ.
I think your wish will be granted!
RS can't happen anytime soon if mngt misses deadline on filing 10Q. That deadline ends today.
Seamus stated that the plan was to complete spin-off merger in 3rd qtr. His preference is early 3rd qtr not late.
You're totally wrong!
Rennova can not do an RS if they are not compliant with their filings. Their 10Q is due today (45 day extension granted by SEC).
I also spoke to someone at FINRA to confirm the above-stated. FINRA works under the SEC.
Your math is correct but
They need more room in case the SP declines after the RS. $5, $10 or higher would be better.
Some of the more senior shareholders such as Backstabbed explained that quite well.
Does anyone know why?
# of patients served more than tripled yet revenue only increased by $1.5M. For some reason revenue per patient went way, way down.
From 10K (pg 44)
Number of Patients Served 41,677 13,349 28,328 212.2% (Increase)
Key Operating Measures - Revenue per patient served $ 382.18 $ 1,080.06 $ (697.88) -64.6% (Decrease)
Key Operating Measures - Direct costs of revenue per patient served $ 354.13 $ 845.48 $ (491.34) -58.1%
Damn, $22M in Int expense!
Ok.. I stand corrected.
Thanks.
This appears to be the issue with the SP
From pg 29 of 10K:
As of May 31, 2020, the Company lacked a sufficient number of authorized shares of common stock to cover all potentially dilutive common shares outstanding. On May 31, 2020, the closing price of the Company’s common stock was $$0.0001 per share. Continued conversions and exercises of the Company’s outstanding securities into common stock have further depressed the market price of its common stock and have caused corresponding decreases of the exercise and conversion prices of much of the remaining convertible securities due to their anti-dilution provisions.
Effective June 9, 2020, the Company’s shareholders approved an amendment to the Company’s Certificate of Incorporation, as amended, to effect a reverse stock split of all of the outstanding shares of the Company’s common stock, at a specific ratio from 1-for-100 to 1-for-10,000, and to grant authorization to its Board of Directors to determine, in its discretion, the specific ratio and timing of the reverse split at any time on or before December 31, 2020, subject to the Board of Directors’ discretion to abandon such amendment. As a result of this authorization, as of the date of filing this report, the Company believes that it has the ability to have sufficient authorized shares of its common stock to cover all potentially dilutive common shares outstanding.
Deadline for 10Q is tomorrow!
Extension on 10Q ends tomorrow. If it's not out by then, mngt can't do an RS until they are compliant with their filings. FINRA won't give them an approval.
Please explain further!
How do you see this playing out and what about those of us who are still here?
It seems to me that the SP is going to have to run, at least a bit, in order for mngt to get RNVA back on the NASDAQ with a high enough SP with some comfortable space.
Earlier today,
I listened to the 6/23 podcast with Seamus again. I made note of his statement about the investment ($) Rennova made into the technology going to InnovoQor and how it will show as an asset on the books of RNVA.
Damn, it must be one helluva filing coming our way!
Well, we know the 10K is coming and possibly the 10Q
Are you looking for something else?
I'm wondering when the debt swap will be made official and the share structure is made clear. I'm thinking that will happen in July especially since the 8K related to the 30K preferred shares was filed.
I hope you're right!
What good news are you expecting?
Do you think .003 to .004 is possible this month?
You're right.
The OTC page says float unavailable.
Ok. I've seen that too.
It's a bit confusing. I hope that debt swap happens real soon. I wonder what the hold up is especially since they already issued the 8K approving the preferred shares for CD.
How is that 6.5% of float?
I thought the float was 6.5B according to Stocks to Trade. Based on that, he would own just over 1.5% of the float.
I agree. That is a lot.
I bought another 20M on Friday to put me at 29,400,000
I knew the .0002 would probably disappear on Friday.
What type of news?
Is there a specific catalyst you're looking for to push the SP to .01?
I understand. And I'm with you.
The .0005 to .001 is the minimum price range to get to $5 and $10 with a 1-for-10,000 R/S.
This calculation is just another way to prove that the SP is going up from here.
That's worst case scenario. I'm hoping for at least .005 to pennies.
I was invested in TPTW and OPTI and they both hit pennyland, .03 and .029, respectively. Unfortunately for me, I left both before they ran, but I'm staying put for this take off!
I have a good feeling about next week as well.
What's your point?
That PR is on the purchase of JRMC. It ceased operations a year later was my point.
It was open for part of 2019. I think it closed in June of last year so the 10K should show revenue from JRMC for those months.
My Etrade and Lvl2 on IHub has it at .0002.
Who are you using?
That's old news and is being dealt with.
The CEO and the new COO have stated that the plan is to reopen JRMC. CEO didn't deny payroll or tax issues but stated that they've been addressed. The SP has been so low for a reason but is breaking out. That's why I'm here. The veterans, who have lived through it all, know this much better than I do.
Why are you here? Looking to buy at .0001? You may just wanna settle on that .0002 if you can get any.
I so wanted to close at .0003.
That last buy for .0002 at 3:54 messed it up, but we'll get back and perhaps beyond on Monday especially if the 10K is released and there's something delightful or at least different in there.
I agree that's it's different this time.
And there has to be a run before an R/S.
Maybe not a big run but at least to .0005 or 001 in order for the price to be $5 or $10 after an R/S. According to the 8K, the highest ratio is 1-for-10,000. I think the price will rise above .001 but we'll soon see.
You are right.
I was saying .0003 at a minimum. Hitting that .0004 on 6/12 and 6/15 is even more of an indication that a change is afoot.
SP hadn't touched .0003 since Feb 2019!
That's 15 months not 6 or 8 months.
Plus there are catalysts coming:
Spin-off merger
Debt Swap
Reopening of JRMC
10K or 10Q or both
More monies from Cares Act
Plan to get back on NASDAQ which will require an uptick in SP
As Reported to American Hospital Directory
1) Jellico Community Hospital
Total Patient Revenue:
$42,300,284
2) Big South Fork Medical Center
Total Patient Revenue:
$36,026,630
3) Jamestown Regional Medical Center
Total Patient Revenue:
$93,153,092
Why Friday AH?
Doesn't that generally mean the news is not good? I would think Monday morning or midday or even AH.
Interested in your thinking on this.
That would be so NICE!
Hey!!! Mr. Good Luck Charm.
Bye, Bye .0002s on the ask!
Hope not to see you again, but if so only for as short period of time.
You have a great weekend also. The DD I've done makes me feel good about RNVA. I just bought another 10+ Mil today and will be looking to get more at these bargain prices. Of course nothing is certain, but it's clear where this company and the SP is headed. I've been trading consistently for 7 months now, and this will be my most profitable trade.
ETrade