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I just picked up another 10+ mil. I may try to get more if SP stays at this level.
You have any idea or opinion on how 10K may affect SP?
You expecting good or poor earnings?
Correct. You obviously know your stuff!
It's 1-for-100 to 1-for-10,000!
From 8K from May 2020:
Item 5.07 Submission of Matters to a Vote of Security Holders.
On May 7, 2020, Seamus Lagan, Chief Executive Officer, President and Interim Chief Financial Officer of the Company, and Alcimede LLC, of which Mr. Lagan is the sole manager, the holders of an aggregate of 53,368 shares of common stock and 250,000 shares of Series L Convertible Preferred Stock (the “Series L Preferred Stock”), which votes with the common stock and the Series F Convertible Preferred Stock (the “Series F Preferred Stock”), with each share of Series L Preferred Stock having 40,000 votes, representing 50.25% of the total voting power of the Company’s voting securities, approved by written consent in lieu of a special meeting of stockholders the following proposal, which had previously been approved and recommended to be approved by the stockholders by the Board of Directors of the Company.
Proposal 1: To approve an amendment to our Certificate of Incorporation, as amended, to effect a reverse stock split of all of the outstanding shares of our common stock, at a specific ratio from 1-for-100 to 1-for-10,000, and grant authorization to our 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.
The stockholder approval of the above proposal will not be effective until 20 days after an information statement that has been filed with the Securities and Exchange Commission is mailed to the holders of our common stock, Series F Preferred Stock and Series L Preferred Stock.
I'm still gonna try, LOL! If not then I'll settle for .0002 and be happy with that. I KNOW it's not gonna be here much longer.
I would but monies won't hit account until tomorrow. Then I can wire into my Etrade.
If RNVA misses 10Q 6/30 deadline then RS can't happen!
At least not right now. They have to be complaint with all filings to have a chance to pass the FINRA review process.
If that happens then I'm buying more shares tomorrow!
So in your opinion, have MMs been holding this down or penny flippers, Seamus' actions or combination of them all?
Going back to NASDAQ could be a good catalyst!
It would indicate regaining some credibility, etc. I guess as long as there's no toxic money raise, huh?
It's a little different, but MVIS just regained compliance with NASDAQ and the SP went from $1.10 to a high of $1.90 after the announcement on 6/22.
Thanks for your insight!
Whether they do an RS or not, it's clear that the SP will be going up from these levels. I invested in RNVA on 6/15 and after doing more DD, I feel even better about RNVA. I'm planning to purchase more tomorrow or Monday, at the latest.
Thanks for your input.
Regarding Seamus' words, your comments will be taken to heart!
What SP do you think Seamus would be looking for after RS?
Backstabbed argued somewhere between $5 and $10 so there's some room above $1 NASDAQ minimum. Curious as to your thoughts.
Merger Spin-Off B4 RS (if there is one)!
I know there was a debate about whether RS would happen before spin-off merger. Based on Seamus' words from this week's podcast, the RS will come later this year, if at all. It seems like Seamus wants the RS but appeared vague and uncertain. Whereas with the merger-spin, he was more definitive and clear-cut on timeframe. Below are his words on RS and merger spin-off:
"Regarding the RS, there’s still…we’re working with FINRA. There’s still a belief that we need to complete the RS to put ourselves in a different position with investors, just a completely different level of share price. At the minute, the plan is still to complete that in the near future."
Spin-Off Merger: “That should be closed definitely within the next qtr, if not within a shorter time-frame.”
Does the CEO want RNVA to run now or very soon? I notice mngt is putting out more PRs now and looks like more to come.
I thought the RS has been approved already. Please correct me if I'm wrong.
But you do think mngt will wait until after the debt swap, spinoff merger and reopening of JRMC to do a RS?
But doesn't the 1 to 10,000 RS look much worse than a 1 to 500 or 1 to 1,000 RS? It would seem to make more sense to raise the current SP then do a lower ratio split.
Strange indeed.
So you do feel that the purpose of RS would be healthier financing this time, not toxic right? Seamus seemed to indicate as much during the podcast.
If according to Backstabbed, the last RS was at 1 to 500 ratio, I would think any future RS would be around the same. Thus, the PPS would have to be increased beforehand. There are a bunch of catalysts coming so...
You getting tore up today!! LOL. Hang in there! We need you, buddy! Where are your two cohorts or are you all the same person?
That is a nice dream. I like it.
OK. Everything you stated makes sense. I was thinking the same thing. Appreciate you laying that out.
Also, I would think that Seamus would want the SP to be higher before doing a RS. Right now, the split would be 1 to 10,000 to get the price to $2. If the SP is .01 beforehand then a split of only 1 to 200. Or maybe Seamus doesn't care.
Are you stating that the slingshot to an estimated .015+ would be primarily from the debt swap?
I really appreciate your explanation. That makes sense.
I thought Seamus did explain why he felt the RS is needed: to gain access to capitol I assume through public offerings, etc.
I agree with all you stated on debt swap. So, if I'm understanding it correct, the $23M loan comes off balance sheet while $30M in preferred shares comes on. This somehow will cut down the O/S (not clear how)
Since the 8K was released approving the 30,000 preferred shares and the board has already approved CD owning 51% of stock, it seems like all that's needed is a PR indicating that all is official. I'm most excited about this.
Great question which I have no answer to. I sure wish he asked him about the debt swap. Unless the 10K or 10Q are great, I think the debt swap is huge!
In your opinion, what's been holding it back? Why such a wall at .0003? Is that MMs?
Thanks for your reply. What are you hoping for or expecting in July/August that can move the SP?
The 10Q will hopefully be out right behind the 10K. Hopefully one or both, if needed, will push the SP over .0003 and .0004. I'm tired of seeing that wall at .0003. We need some help with that. Come Seamus and crew! You mentioned the stockholders in today's podcast so how about getting that SP up?
Seamus mentioned reopening of JMRC but no firm date. I'm expecting/hoping on a clear and cogent PR on the debt swap. I think that is big! I was hoping the host would ask about debt so Seamus could respond. Too longwinded on Covid.
What else did you want to hear Seamus speak on? JRMC reopen date? Debt swap?
I don't think so. Unless the 10K and/or 10Q have a negative impact. If the impact is positive then .0001, 0002, and 0003, etc may be history. We'll have a better idea come Friday.
Oh OK. Perhaps you are too late for the .0001s. I could understand feeling that way if the SP has been there for over 12 months, lol!
How could you be too late if we haven't quite taken off yet? Hoping we get beyond the .0003 wall this week.
Apparently, we're going to need something to push us over the .0003 wall. I hope the 10K and/or 10Q do the trick. We have to keep the momentum going! At least today's interview with Seamus confirms that both are coming shortly, one right after the other. He also didn't have a definite timeframe on the RS, so it looks to be happening a little later if at all.
I hope we can at least break through that wall at .0003 some day this week. That would be nice!
Love your assessment and agree 100%! Getting beyond the wall at .0003 to .0004 and beyond is the tell-tell sign. The rest of this week could be interesting. Monday's unexpected PR may not have been big but welcome nonetheless. I'm looking forward to F/S and the official debt swap.
I like what I saw today! I'm actually getting more excited about this stock! Can't wait for F/S and confirmation of debt swap which should be coming any day now, IMO.