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Elena, do you know anything about SRM that was to launch in 2nd qtr or FutureORTM that is to launch in qtr 3 (need to hurry)?
Shareholders Letter
From the desk of
CJ WIGGINS
FOUNDER, EXECUTIVE CHAIRMAN & CEO
of
HIPPOFI, INC.
Ticker: “ORHB”
Dear Shareholders,
I am writing to you, to share our team’s accomplishments over the last 5 months and inform all parties we have changed our name to best reflect the company’s current position & financially focused business model. HippoFi® is a fast-moving finance & healthcare innovator, implementing first-to-market solutions to leverage our team’s successful sales background, industry specific expertise, & proven public company track-record, into three of today’s hottest multibillion-dollar markets: FINTECH, BIOTECH, & ARTIFICIAL INTELLIGENCE.
Focused on driving value to our customers and shareholders, we have completed significant milestones to bring the company’s initial products and services to commercialization and anticipate significant revenues. In this short period, we established the current business model, activated our acquisition strategy, procured new products & technologies, streamlined operational management, expanded sales channels, and executed agreements with strategic affiliates.
While remaining capitalized and meeting the new SEC reporting requirements, Marcum & HTFL continue as our accounting & SEC representatives. With the sale of Surgical Spotlight and elimination of company debt, the courts dismissed “with prejudice” all litigation which once was holding the company back. Immediately following this relief, we quickly focused on entering the fintech market and completed developing our new surgical software platform to enable faster financial transactions between hospitals and medical device vendors. I am also pleased to bring to your attention, we have entered into partnership discussions and exclusive agreements with globally recognized players in this target market.
To fully engage our expertise & existing sales channels, the acquisition of PUR Biologics® has proven to add significant value with proprietary cell-derived technologies focused on bone & cartilage regeneration. Along with the existing line of commercialized products, PUR quickly launched PUR Pillars™ as a part of the new product portfolio. Independently managed by its experienced biotech leadership & scientific team, we are actively negotiating the rights to a breakthrough technology which addresses current product limitations & patient safety in growing bone & specifically relating to PUR’s focus on “spine fusion” surgeries. PUR’s products are the first to flow through our new surgical software and “fast-pay” vendor payment system.
We continue to open additional opportunities to commercialize our surgical products and financial software as we wrap up late-stage discussions with an anticipated sales partner. This partnership will allow our digital and biological solutions to be supported by approximately “150+ representatives”, targeting “200+ hospitals”. In preparation of our growth and success, we hired our head of sales last month for the US markets and are now equipped with a dedicated sales leader having the proven skills and relationships needed to increase adoption and revenue.
As sales experts in medical technologies & innovators in “first-of-kind” healthcare solutions, the proven power of Artificial Intelligence is a natural fit for our company. I am very excited to share with you, we have executed an “Exclusive Letter of Intent” with a global AI expert. This amazing deal solidifies the third division in our business design with a fully managed and operational product and technical partner. In the next 30 days, we plan to secure this multi-billion-dollar market opportunity by closing our definitive agreement and together, plan to introduce our validated & commercial-ready AI platform to the US market - helping save lives with the latest in AI technologies to improve the detection and prediction of various forms of Cancer.
Stay tuned as our execution continues, momentum builds, and revenues grow. We value your support of HippoFi® as we help do our part in shaping the future of healthcare.
Sincerely,
CJ
New Website:https://hippofi.info/
Is that you Rick? Is it true the best revenge is success.
Born from ORHub®, HippoFiTM represents the company's fintech focus with commitment to the ‘Hippocratic oath' and patient clinical improvements.
IRVINE, CA / ACCESSWIRE / August 24, 2022 / ORHub, Inc. (OTC PINK:ORHB) announces today its future as "HippoFi" (HippoFi.com) a fintech and healthcare innovator, implementing first-to-market solutions to leverage three of the hottest multibillion-dollar markets: FINTECH, BIOTECH, & ARTIFICIAL INTELLIGENCE.
"HippoFi ("formally ‘ORHub"") is crafting the future by delivering revolutionary technologies and innovative solutions specifically targeted at an annual US market spend approaching $300 billion. The timing could not be better to update the company's name and brand as we are actively engaging in new partnerships, continued acquisition efforts, and deploying novel digital & biological solutions. We deliver financial value and savings to customers and clinical improvements to patients, while benefiting from scalable, high-growth, & high-profit opportunities. The name ‘HippoFi' & new company brand best represents our shaping healthcare's bright future with never-seen-before fintech, biotech, and AI technologies, along with our commitment to push boundaries and driving value to customers, shareholders, and most importantly for the patients," shared CJ Wiggins, Founder, Executive Chairman & CEO "As hospitals & med-device vendors continue the necessary efforts of becoming more efficient, effective, and advancing the quality of patient care, HippoFi will soon be recognized as being "The Only Way to OperateTM".
HippoFi's (formally ORHub's) web site will continually be updated, and a new Ticker Symbol will soon represent HippoFi (formally ORHub), while continuing to trade on the OTC: ORHB while moving the company status forward to OTC-QB, targeting a future NASDAQ listing.
ORHUB, Inc.
Thu, July 28, 2022 at 3:00 AM
In this article:
ORHB
0.00%
PUR PillarsTM were designed specifically for spine surgery, with a patient's post-surgical outcomes in mind.
IRVINE, CA / ACCESSWIRE / July 28, 2022 / ORHub, Inc. (OTC Pink:ORHB) plans to launch its new bone growth product focused on spine surgery in early Q4 2022.
Spinal fusion surgeries require implanting biological products or materials to help support and stimulate the patient's natural healing and fusion. Today's US spine market and ORHub's opportunity includes an estimated 950,000 surgical spine fusion procedures per year, with a conservative annual growth rate of six percent.
"PUR's PillarsTM design aims to achieve optimal patient outcomes by keeping bone graft materials in place, avoiding the typical migration of bone graft material from the desired location and eliminating inactive carriers," shared Ryan Fernan, Head of PUR Biologics. "PUR's PillarsTM are created from our Fibrous CollagenTM and deliver a solid matrix structure designed to act as a Bio-active BridgeTM for a patient's natural cells and growth factors to bind with."
Market estimates for "bone growth" products and related therapeutics are believed to be greater than $8B, increasing the opportunity for revenue, value, and scalability which ORHub has positioned with the PUR Biologics brand.
ORHUB, Inc.
Wed, July 27, 2022 at 11:30 AM
In this article:
ORHB
0.00%
A proven industry leader and executive, Ryan Fernan, will help ORHub advance Ortho-Spine technology beyond current limitations.
IRVINE, CA / ACCESSWIRE / July 27, 2022 / ORHub, Inc. (OTC Pink:ORHB) officially kicks off the acquisition of PUR Biologics ("PUR") with the appointment of Ryan Fernan as the Head of PUR Biologics. An ORHub biotech company, PUR Biologics is focused on delivering next generation regenerative biologic products to address degenerative musculoskeletal diseases.
Mr. Fernan, brings direct access to a broad industry network with a proven track record of over 18 years in the medical device and biotechnology industry. Recognized as a frontrunner in sales and product development, Mr. Fernan's career included leadership roles associated with Johnson&Johnson/DePuy Spine, and then Zimmer/Biomet. With a strong entrepreneurial drive, Mr. Fernan also founded OC Surgical, Inc., which became the largest Actifuse distributor in the United States from UK-based orthobiologics company, ApaTech. His successes with Actifuse largely contributed to its purchase by Baxter (NYSE: BAX) for approx. $330M in 2010. Mr. Fernan went on to found PUR Biologics, quickly developing technologies from concept, through pre-clinical trials, to large animal trials in collaboration with the University of Colorado and UCSD, and into initial FDA human clinical trial discussions. These first- generation technologies were negotiated into a successful sale by Mr. Fernan to Histogen, Inc. (NASDAQ: HSTO), while he continued directing the licensing and development of the next generation of cell derived extracellular matrix technologies.
"Mr. Fernan has already hit the ground running, identifying multiple technologies which we are evaluating for acquisition or licensing," said CJ Wiggins - ORHub Founder, Executive Chairman & CEO. "Our intention with these potential deals is to place PUR in a leading position of today's bone growth market and tomorrow's advanced ortho-spine solutions. I am proud to have Ryan lead our Regenerative Therapeutic efforts and am excited by the plans to change how unmet patient needs will be addressed."
"I am focused on significantly improving clinical outcomes, while generating revenue, and have already secured many strategic sales opportunities. We are now completing our industry leading portfolio of advanced ortho-spine biologics," added Ryan Fernan, new Head of PUR Biologics. "We will be aligning with key opinion and industry leaders, who will support our highly innovative products and in turn, assist us in developing our new cell derived technologies addressing the osteoarthritis, cartilage regeneration, and the mitigation of pain."
With PUR's proprietary technologies, market access, and proven track record in product development, ORHub's Regenerative Therapeutic division is poised to impact multiple therapy markets that exceed a combined $40B in annual revenue.
ORHUB, Inc.
Thu, July 21, 2022 at 6:00 AM
In this article:
ORHB
+7.00%
ORHub's new Surgical Resource Management ("SRM") platform, FutureOR, facilitates faster Case-to-Cash payments to medical device and biological vendors.
IRVINE, CA / ACCESSWIRE / July 21, 2022 / ORHub, Inc. (OTC PINK:ORHB) takes form as a medical fintech company, announcing the launch of "FutureOR", its SRM platform, focused on enabling digital connectivity, faster vendor payments, and surgical implant accountability.
The Company "intends to eliminate the deficiencies faced by hospitals and their vendors, replacing outdated documentation and legacy processes with ORHub's uniform business automation and fast-pay software," shared Founder, Executive Chairman & CEO, CJ Wiggins. "This software can reduce the Case-to-Cash timeline (hospital to vendor) by over 90% as well as bring real-world value to the FDA's Unique Device Identifier (UDI) mandate for implant accountability."
"As we ready this powerful software for release, initial focus is on the ortho-spine surgical markets with a 12-month target of 200 hospitals," continues Mr. Wiggins. "These facilities implant an estimated $2B+ in implanted ortho-spine devices and materials, providinga unique opportunity for our business model. Considering the scale of the deficiencies we aim to fix with our digital solution and financial instruments, along with the tightly concentrated customer base, I am confident in ORHub becoming a significant Fintech business.
Nice to see the Bid / Ask tightening up.
Nice to see the Bid / Ask tightening up.
"ORHub to launch new FutureORTM application in Q3 2022"
IRVINE, CA / ACCESSWIRE / June 9, 2022 / ORHub, Inc. (OTC PINK:ORHB) announced today it will launch its new application FutureORTM next quarter and has expanded its relationship with Predica to support the release, provide managed services, and help transform the business of surgery. FutureORTM will bring to the medical device industry surgical implant accountability, improved business efficiency, and fast payments between hospitals and vendors. "As ORHub's technology partner, Predica is honored to have played a part in such a transformative solution as FutureORTM. From the onset, FutureORTM was clearly purpose-built to streamline processes for both Hospitals and their Bio-Medical Device vendors. This approach increases efficiency and digital payments between the stakeholders, but more importantly, will offer opportunities to reduce the overall cost of healthcare in the United States" shared Pete Orologas - Vice President and Managing Partner of Predica US.
IRVINE, CA / ACCESSWIRE / April 25, 2022 / ORHub, Inc. (OTC PINK:ORHB) announced today it has purchased 100% of the equity interest and assets of PUR Biologics, LLC.
ORHub will enter the global medical device market, expected to reach $445.1 billion by 2026. With top categories in the USA including Hip, Knee, & Spine, reaching $75 billion, ORHub will utilize PUR's proprietary technologies to regenerate cartilage, mitigate pain, and address the biological causes of degenerative disc disease and osteoarthritis of joints.
"We plan to offer improved treatments for age-related joint pain and the degeneration of cartilage in orthopedic indications. Technologies like PUR's can enable new ways to address the underlying cause of undesired inflammation and pain signals, while igniting our body's natural healing capabilities," shared CJ Wiggins - Founder, Executive Chairman, President & CEO for ORHub. "We are excited about this acquisition and the opportunity to advance autologous cell and cellular derived therapeutics for osteoarthritis and degenerative disc disease."
"PUR Biologics has cultivated innovative technologies, in addition to our full line of bone regeneration products currently on the market. We have identified and secured intellectual property that will finally address major gaps in medical treatment. ORHub is the ideal acquisition partner, with both the necessary science and business structure to take our technologies to the global market," explained Ryan Fernan, former CEO of PUR Biologics.
With this addition to ORHub, plans are being made to update the corporate branding and ticker symbol to encompass its Digital Technology and Regenerative Therapeutic division as it continues its preparations for an audit and up- listing.
ORHub Prepares To Finalize Acquisition Of Pur Biologics
Fri, April 15, 2022, 9:10 AM
IRVINE, CA / ACCESSWIRE / April 15, 2022 / ORHub, Inc. (OTC Pink:ORHB) announced today it has reached a Definitive Agreement and successfully completed its due diligence of PUR Biologics, LLC.
"While FutureORTM digitizes the payment process & implant accountability for PUR product sales, our goal is to replace the dated use of cortisone, lubricants, and other temporary injectables with PUR's regenerative and anti-inflammatory technologies," shared CJ Wiggins - Founder, Executive Chairman, President & CEO for ORHub.
"Healthcare is evolving and adopting digital business and biologic clinical solutions which have proven value for their organizations and patient outcomes. PUR's advanced technologies bring the opportunity to address a largely unmet patient need associated with aging or injured joints. We believe these types of technologies can eliminate pain signals and restore damaged tissue or degenerated cartilage - ultimately improving functional outcomes and the quality of an active life."
ORHub, Inc. the Courts Rule To "Dismiss With Prejudice" the Lawsuit Brought by Frederic J. Buonincontri & Axt Analytics, LLC
We are very pleased with the Court's decision," CJ Wiggins, Founder, Executive Chairman, President, & CEO for ORHub, "The fact that the case was specifically ‘Dismissed with Prejudice' ensures these parties cannot continue this frivolous activity, wasting our time and resources."
"With the burden of litigation behind us, we can continue, unimpeded, on our path accomplishing our Company's goals of restoring shareholder value, deploying our new FutureORTM software platform, focusing on sales, and acquiring additional technologies and companies synergistic to our business design. Vindicated and energized, we move forward to the next phase of our business."
Mon, November 29, 2021, 6:00 AM
In this article:
ORHB
+2.70%
"ORHub aims for Q2, 2022 to bring total implant accountability to the medical device & surgical industry"
IRVINE, CA / ACCESSWIRE / November 29, 2021 / ORHub, Inc. (OTC PINK:ORHB) has invested in developing a flexible, scalable, and secure "Surgical Resource Management" (SRM) operating system focused on Intelligent Automation. This will allow for the delivery of implant accountability, business efficiency, communication portals, and digital transactions between hospitals and their medical device & biologic vendors.
"Today's cost-of-care is unsustainable. Fortunately, current technologies have allowed us the opportunity to remedy this situation," stated CJ Wiggins, MBA - ORHub Founder, Executive Chairman, President, & CEO. "How we currently capture, share, and record surgical implant information causes business and administrative inefficiency, risk to patient's care, and an increased cost to patients, hospitals, and vendors. FutureORTM is the game changer that the industry needs."
"I believe within 36 months, the entire process by which hospitals and device manufacturers conduct business and collect, transact, & account for surgical implant information will be completely transformed, for the better," shared Mr. Wiggins.
forward strategy."
IRVINE, CA / ACCESSWIRE / November 23, 2021 / ORHub, Inc. (OTC PINK:ORHB) provides a 2021 update and announces the Company is prepared to accelerate its agenda in 2022. "We continue to perform and over the last year, have made huge commitments, and taken all necessary steps to successfully protect our shareholders, the company, and our team," shared CJ Wiggins, MBA - ORHub Founder, Executive Chairman, President, & CEO. "There are more opportunities today than ever in our industry, and I am confident in the future of ORHub to change business for good."
It has been a busy 2021 for ORHub. While continuing to generate revenue with current technologies, ORHub reduced its debt by over $7.5M. Retaining an Irvine-based, Microsoft Gold Partner, the company has developed a new platform delivering a first-of-kind digital payment process and life cycle management of surgically implanted biomedical devices.
In addition to new product developments, ORHub retained former SEC & accounting firms and met new SEC reporting requirements. While divesting ORHub's old technology, SugicalSpotlight, the company identified and engaged in preliminary discussions for an acquisition target with potential short- and long-term value.
ORHub entered into a binding "Settlement Agreement" with Note Holders, in turn receiving the Note Holders' complete surrender of all Note Agreements. ORHub delivered on all settlement requirements and received Note Holders' full release of any & all liabilities. With these actions taken, ORHub filed a "Motion to Enforce Settlement" for the "withdrawal, with prejudice" of long-standing litigation.
"I cannot express the level of gratitude I have for the commitment and performance delivered by our team over the past 18 months. They have energetically pursued our business goals and persistently innovated our new product developments, which has enabled the company to return to financial health," commented Mr. Wiggins.
On the trajectory and focus of the company, Mr. Wiggins states, "I am committed to the stakeholders and our opportunity to impact society for the better. With our significant reduction in debt and support from our strategic partners, I am confident we will meet our new year's goals to launch product, continue acquisition discussions, and preparing for our audit and plans for up-listing."
-
After yesterday, I'm guessing someone knows something.........
Physician Leaders at a Southern California Ambulatory Surgery Center choose ORHub to activate data driven decisions to improve patient care and increase profits in 2020
LAGUNA BEACH, Calif., Jan. 17, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – ORHub, Inc. (OTC: ORHB; the “Company”), a Microsoft Silver Partner and cloud-based digital health company focused on improving the efficiency of the operating room and optimizing the cost-of-care by delivering actionable clinical and business intelligence through a centralized platform to care providers, administration and leaders, today announces a new customer partnership with a premier Ambulatory Surgery Center (“ASC”).
ORHub, Inc. and eHealthAnalytics Announce a Strategic
Relationship to Improve Cost Transparency and Device Success
CEOs Dr. Robert Lazzara and Gail Port plan to Unveil their
Pre-Operative Product at StartUp Health in January 2020
TEMPE, Ariz., January 2, 2020 -- ORHub, Inc. (OTC: ORHB) ORHUB Inc., a Microsoft Silver Partner and SaaS based surgical analytics company that educates surgeons on cost effective behavior, and eHealthAnalytics, a company built around the use of predictive analytics in healthcare with a focus on medical device adverse events and recalls, are pleased to announce their agreement to form a strategic relationship built around the development of a unique product in healthcare. The companies will jointly unveil their work at the StartUp Health conference in San Francisco on January 13-14, 2020.
The new product, once completed, would allow healthcare organizations and surgeons to assess predicted cost of procedures, and the probability and financial impact of a recall on selected devices, pre-operatively. “Our work with ORHub will broaden the financial knowledge base for perioperative leadership when it comes to use of all medical devices,” said Gail Port CEO of eHealthAnalytics.
Using tools from ORHub’s Surgical Spotlight® with the predictive models from eHealthAnalytics’ MedDev PredictTM, the platform will be the first of its kind to take into consideration the co-morbid conditions of pre-operative patients. Not only will this allow for cost transparency before a surgical event, but also offer surgical teams information about the chosen devices for each patient. “From a clinical point of view our unveiling of this new development with eHealthAnalytics, will be a major step forward for all surgical specialties and patient care,” said Dr. Robert “Bobby” Lazzara, CEO of ORHub.
I think we will come out the other end, the court has been siding mostly with the company. The note and share holders are mounting a legal challenge to those trying to take the company down, looking to punish them as well.
The take down was set up from the very beginning...........
Dear Investors,
It is unfortunate that as a company, we are wasting time and money in court, and through emails defending the company and our investors, from a myopic view, that has hampered the success of this company in the public markets.
As the company sees it, Mr. Buonincontri continues to play games with investors’ and employees’ money and lives, citing sentences from legal proceedings he uses out of context to support his attacks on a company he has invested in, along with his family, and received consulting money from in the amount of $50,000.00 dollars. Instead, of moving forward in positive ways to benefit all investors, which would include himself and the small minority he represents.
The company wants to make the following remarks as it pertains to the reason for this last hearing, and its outcome, as well as the future of this litigation.
Much claim has been made to the wrong doing and potential securities fraud of previous management, that required a complete an immediate disclosure of financials to Mr. Buonincontri as the purported note agent. Mr. Buonincontri at that time, approximately a year ago, also filed to place the company in Receivership using the public exposure of these financials as a prerequisite. Judge Welty, a previous judge made a ruling, that our current judge cited in his current rulings, and I quote:
While the Court has found that the company was delinquent and incomplete in its financial reporting and had poor financial controls, the Court has found no evidence of fraudulent conduct on the part of any officer of the company or that the company assets are likely to be concealed or lost unless a receiver is appointed. While the company is in a poor financial position, the evidence suggests that has more to do with the nature of a start-up company that needs greater investment, than gross mismanagement. In short, there is little evidence that either investors or the company would benefit from the appointment of a receiver.
The company does not now, or in the future, have a problem with disclosure of financial information, except when someone is attempting to place it in Receivership, such as Mr. Buonincontri has attempted previously. The judge was correct, we are a start-up company that needs “greater investment”, and our financials controls were not appropriate. We are in debt, and the resolution of that debt can only be corrected with capital investments and sales, not under the fear of bankruptcy court, and litigation, which has been created by Mr. Buonincontri. The fact that we are in debt is known to everyone, including Mr. Buonincontri, the use of financials to place the company in bankruptcy, using financials that were not certified and GAAP approved as demanded by the note, and something the company could not perform, created more risk to the company by Mr. Buonincontri, and still does. Audited and approved financials are needed and are being developed by a major firm we have engaged, MARCUM, LLP. However, given the litigation, issues with the previous CFO, Mr. Lang, and previous CEO Mr. Melby, as well as the ongoing litigation, the need to close sales, and raise capital, along with just the daily running of the company, engaging a new firm following being let go by another, getting approved, and moving forwarded with approved public audited financials simply takes time, and during that time, it was our legal counsel’s recommendation that anything less than audited financial disclosure to Mr. Buonincontri put the company at more risk.
The courts current ruling demands that all financials delivered to Mr. Buonincontri be sealed, which means they cannot be used for public dissemination, to be traded on, or used in litigation against the company and exposed to the public. They are selective to Mr. Buonincontri only. What he will find in those financials is that the company is in debt and needs capital investment, and sales. Something he knew previously. I believe, that Mr. Buonincontri, and the minority he represents are looking for retribution, or embezzled funds, as a way to continue to lash out at the company. Not for financials in order to determine if they should convert into equity. EVERYONE KNOWS THE FINANCIAL STATE of ORHUB. If individuals want retribution, give current management time to complete audited financials, if individuals want change at multiple levels, and sales and capital, then give new management time to do it without the fear of litigation or bankruptcy that Mr. Buonincontri has engendered. The Judge ruled that all financials be delivered to Mr. Buonincontri be sealed. This a win for the company, noteholders, and investors:
IT IS ORDERED that, within ten days of the filed date of this Order, the Company is to provide plaintiffs with financial records, including but not limited to those records referenced in Mr. Monte’s email dated May 20, 2019. The Company’s failure to comply with this Order in a timely manner will result in additional sanctions under Rule 37(c)(1).
IT IS FURTHER ORDERED that the records disclosed in response to the preceding paragraph may be labeled “Confidential” and will not be used or disclosed for purposes other than this litigation. Unless otherwise agreed by the parties, if any party intends to use a confidential document in a motion or at trial, the confidential document shall be filed under seal.
IT IS FURTHER ORDERED that the Company timely will produce additional financial documents as those documents are prepared by the Company’s new auditors/accountants.
IT IS FURTHER ORDERED that plaintiffs are awarded their reasonable costs and attorney’ fees for the limited purpose of filing the Motion for Sanctions and the Reply.
The company is required to pay attorneys fees only in conjunction as described above for “ a limited purpose”:
Attorneys’ fees on all other issues will be held in abeyance pending the resolution of the case.
The judge noted orally, in court that he has great concerns as to the reasons for Mr. Buonincontri’s actions, and that he does not award attorneys’ fees out of proportion to the initial financial concerns for which a case exists. This was reiterated in his rulings:
Although the issue of the reasonableness of AXT’s expenses is not before it, the Company’s complaint about the size of plaintiffs’ claim raises significant questions including the most obvious: “why would someone spend over a half million dollars to protect a $100,000 investment in a company that is insolvent?” The Court sees no reason why AXT should remain as Note Agent if it does not have the support of a majority of the Note Holders. Mr. Buonincontri agreed to those rules when he signed the Note Agreement.
The question of the validity of the new note agent vote was not before the court, the purpose of the vote from the companies perspective was to show the judge, yet again, Mr. Buonincontri does not represent the majority of Noteholders which was clear to the court after testimony from Bruce Longmeier, a noteholder, and being told under oath that approximately 60% of Noteholders supported Mr. Buonincontri’s removal. Mr Buonincontri received one vote.
The court offered a simple remedy to solve this issue which will immediately put an end to this litigation and which the company has already engaged with, knowing Mr. Buonincontri is not supported by a majority of Noteholders:
The events were too recent for the Court to address the second Stribrny election at the November 21 hearing. Unless the parties can come to an agreement to stop the hemorrhaging attorneys’ fees, the Court anticipates that it will be asked to resolve issues concerning Mr. Stribrny’s election in the near future.
Any election will have a better chance of surviving the Court’s scrutiny if the process was vetted by a lawyer (like Mr. Lieberman) with substantial experience in securities law and votes of shareholders/debtholders. A properly conducted vote could avoid big problems later – not just from Mr. Buonincontri but by a disgruntled Note Holder who votes one way only to claim at a later date that he was not provided with material disclosures relevant to his decision.
Clearly, the judge simply wants an independent third party with legal expertise not Mr. Buonincontri, or the company, to proceed with a vote. The company, noteholders and shareholders, which the judge included in his statement, in the majority, are not in support of Mr. Buonincontri, and the company will move forward with this approach to end this litigation as directed by the court, as needed. Another positive for the noteholders and shareholders of this company.
With regards to the conversion of the notes into equity that was under consideration. The judge, and rightly so, made the following judgement.
IT IS FURTHER ORDERED that any Note Holder who wants to voluntarily convert his/her debt into equity may do so in accordance with terms agreed upon between the consenting Note Holder and the Company. The Court offers no opinion on whether conversion is a good idea or a bad idea.
The restriction blocking all noteholders from converting was lifted by the court. Conversion can proceed for those wanting more equity and more voting power at .021 cents as requested by the company previously. The initial goal of the company in attempting to convert all noteholders was to simply stop the litigation, remove Mr. Buonincontri as Note Agent, and give noteholders majority control over the company. Now those wishing to remain as creditors can, however it should be noted that the court had great concerns with the Note as written, and he expressed this orally as to both sides, well as in the courts rulings:
As an initial matter, these findings are based on a full-day evidentiary hearing that occurred before either side had an opportunity to conduct full discovery. A factfinder may take a different view of the evidence after the record is fully developed and after the parties have an opportunity to conduct discovery. The factual conclusions in this ruling are not final except for the purposes of the pending motions.
First, the Court finds that the Note Agreement is ambiguous...
To be sure, the Note Agreement contains a “Miscellaneous” provision (i.e., boilerplate) that indicates that “This Agreement may be amended by an affirmative vote of more than 50 percent of the Note Holders with votes tabulated by the principal of the Notes held by such Note Holders. . .
However, the specific Note signed by Mr. Buonincontri contains the following additional statement:
This Note may not be amended, modified or changed, nor shall any waiver of any provision thereof the effective, except only by an instrument in writing and signed by the party against whom enforcement of any waiver, amendment, change, modification or discharge is sought; provided, however, that this paragraph shall in no way be a limitation on the provisions of the consents and waivers set forth above.
The court addressed the ambiguity of the note orally to both parties at the end of the hearing. The ambiguity of the note as the court interpreted it would require fact finding by a jury or judge in a trial. The judge indicated multiple times that this disagreement needs to be “settled” by the parties. Such a trial with discovery, depositions, and additional attorneys’ fees with appeals could take years, in a litigation battle that began in October of 2018 with Mr. Buonincontri’s first filing. I can assure you this would not be in the best interest of the noteholders, shareholders, Mr. Buonincontri’s companies or ORHUB. It will only benefit attorneys by not hundreds of thousands, but attorneys’ fees into the millions, ridiculously fighting for a start-up trading at .03 cents, with no Intellectual Property, patents, and software that will soon be reproduced by companies like Cerner and Epic, major EHR companies with billions of dollars.
This company has a window of opportunity that is quickly closing, hampered by litigation that will benefit no one except Mr. Buonincontri as the highest and number one creditor in the current Note agreement under dispute. It is my understanding the Note was written in conjunction with Mr. Mike Williams, a mentor of Mr. Buonincontri’s, a question I have asked often, as to what purpose, since when the Note was signed by Mr. Melby, the company was immediately in default of the Note. A fact which I noted to judge Brodman.
I approached Mr. Buonincontri immediately after the hearing, heeding the Courts words regarding a “settlement”. Shook hands, did not cast judgement, and requested we talk to move this company forward. However here we are again in “attack and defend mode” following a biased email from Mr. Buonincontri that fails to see the big picture that the Court has offered.
Mr. Buonincontri and I continued talking, and he indicated to me I was the person that could turn this company around, he did not want to be note agent, only the top creditor, that he was willing to settle. Then, his email, disparaging myself and the company beginning with:
“As predicted, ORhub’s year-long campaign of excuses, outright lies, threats and innuendo...”
Can I believe Mr. Buonincontri’s words, or his email? Does he want to work with me or not? Why does he tell me one thing about settling with the company, with myself as CEO, then attack me and the company publicly, which clearly effects perception and stock price?
Judge Brodman was impressive in his demeanor, oral summary and written summary. I encourage all investors to read it. Mr Buonincontri has previously provided a link. His take home message, get this settled. If not, you are going to a trial. That trial will benefit your attorneys only, and I do not dispense attorneys’ fees out of proportion to an investor, with a limited investment. Also not one, I believe as CEO, that has acted as a paid consultant for the company.
A ground swell of litigation has begun against Mr. Buonincontri and others by Noteholders and Shareholders. I have done my best to prevent litigation of investor vs investor in ORHUB, as our efforts directed in unity towards success will yield a more positive outcome. A company divided amongst itself is doomed to fail, not only will the company not survive, but everyone involved will lose more than investment dollars in the upcoming additional litigation. They will lose time, money, and most importantly peace of mind.
In closing, I will continue my efforts to finally end this litigation, and more litigation, I am calling for Rick to come back to the settlement table with reasonable plans that benefit the company and all investors, not just himself as a lead creditor. In addition:
End negative email campaigns against the company.
Work to make this company a success, and not attack it publicly anymore, but work with me, the new CEO, as he has stated he wants to
To allow the conversion of notes into equity by those that want to at .021 cents without attempts to block the conversion again
To set aside efforts to be note agent, and help pick a completely independent and unbiased note agent for those that want to remain in a note, an individual with legal and SEC expertise in convertible notes
To have the new independent note agent and his/her recommended individual(s), create a note that is not ambiguous and not constructed by the company, or business partners or acquaintances of Rick’s, and maintains the financial integrity of those that wish to remain in a note.
The company will comply with the court orders to:
Supply all current financials under seal, as directed by the court, and subsequent audited financials
Pay limited attorney’s fees as approved by the court
In addition, the company will make available as a public company, all audited financials through Marcum, LLP ASAP, and allow a review of financials by all investors before a decision to convert any debt into equity occurs, with complete oversight by the new independent Note agent.
I am tasking Rick and the company to have this completed before the holidays, so that beginning in 2020, this company is unified in its goals, and can finally move forward without the shadow of litigation, and become what all of its current investors and management want, a success.
Robert R. Lazzara, MD
CEO and Chairman
It would seem my financial suicide is complete.
Nice job Randy.
Comparing Traditional Daily Procedures,
Dr. Lazzara Reveals How Strong Profitability Can be Heightened Through the Integration of ORHub’s Advanced Analytics
NEW YORK (July 25, 2019) – ORHub Inc. (OTC: ORHB), a cloud-based healthcare analytics company, on a mission to optimize the business of surgery through lean process improvement, today released a brief presentation, where focus was drawn to how Perioperative Leadership stands to benefit from the simple ability to harness the daily procedural costs.
Dr. Lazzara describes issues not yet addressed in the industry, “Behaviors that can center focus on team building and the development of surgical systems is approaching hospital systems nationwide, saving millions of dollars in improved patient access, all at the same time!”
View the Video: https://app.getresponse.com/click.html?x=a62b&lc=BWoAdC&mc=FS&s=bHXAyf&u=GrCaj&y=i&z=EFPCzRV&
In this educational video segment, ORHub Chief Medical Officer, Dr. Robert “Bobby” Lazzara, describes how the ORHub Surgical Receipts create state of the art solutions, effectively eliminating overinflated spending through limitations involved with antiquated resources incapable of processing real-time analytics.
ORHub’s analytics product Surgical Spotlight® is a cloud-based analytics tool that helps perioperative leaders such as physicians, nurses and administrators spot trends and outliers with curated performance indicators, increasing efficiency, decreasing costs and improving patient access in the operating room.
Medical News Minute provides further details on ORHub’s Surgical Spotlight application in this brief video featuring Dr. Lazzara.
ORHub’s vision is to place Surgical Spotlight® into as many operating rooms as possible, utilizing streaming videos and digital apps for increased patient and provider education. In addition to surgical specialties, Surgical Spotlight® covers procedurally oriented specialties include the interventional cardiology lab, interventional radiology lab or gastrointestinal lab. Surgical Spotlight®, since its launch earlier this year, continues gaining market traction and system penetration.
ORHub Inc. Chief Medical Officer “Bobby” Lazzara Summarizes Vision and Latest Developments in Exclusive NetworkNewsWire Broadcast
ORHub Inc. (OTC: ORHB), a cloud-based healthcare analytics company, on a mission to optimize the business of surgery through lean process improvement, today announces the broadcast of its exclusive audio interview with NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) solution.
The interview can be heard at http://nnw.fm/Si3G2
ORHub Chief Medical Officer Dr. Robert “Bobby” Lazzara joins NNW host Stuart Smith for a look at the successful launch of ORHub’s product – Surgical Spotlight® – a cloud-based analytics tool that allows perioperative leaders such as physicians, nurses and administrators spot trends and outliers with curated performance indicators, increasing efficiency, decreasing costs and improving patient access in the operating room.
Medical News Minute provides further details on ORHub’s Surgical Spotlight application in this brief video featuring Dr. Lazzara.
“Our focus revolves around becoming a powerful foundational resource in the Operating Room. Streamlining in a manner that incorporates all factors enables not only significant cost reductions, but substantially heightened efficiency, yielding an unparalleled competitive advantage for surgeons and a maximized value to their patients,” stated Dr. Lazzara
He continued, “By providing the information that allows for a change in behavior, control is put into the hands of surgeons and administrators, enabling the evaluation of trends, and empowering the facility to make instantaneous adjustments that will continue building efficiency and profitability on an ongoing basis.”
“On track to gain about two percent market share toward the end of 2019,” Dr. Lazzara concludes, “…our goal to gain notable exposure, raise capital, and drive revenue into the Company as we continue to gain awareness. We believe that this valuable technology, with empowerment through mentorship nationwide, will be a strong contributor toward a long overdue paradigm shift in the continually evolving health care industry.”
ORHub’s vision is to place Surgical Spotlight® into as many operating rooms as possible, utilizing streaming videos and digital apps for increased patient and provider education. Current procedurally oriented specialties include the interventional cardiology lab, interventional radiology lab or gastrointestinal lab. Surgical Spotlight®, since its launch earlier this year, continues gaining market traction and system penetration.
What happens if God forbid, a Democrat is elected President in 2020 and the war on coal resurfaces.
ORHub, Inc. Settles Litigation with Former Chief Financial Officer
Press Release | 07/01/2019
TEMPE, Ariz., July 01, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – ORHub, Inc. (OTC: ORHB) (the “Company” or “ORHub”), a cloud-based healthcare analytics company, today announced it has reached a resolution of its contract dispute with its former chief financial officer, Lanny Lang, and his firm Lang Financial Services, Inc.
ORHub Logo
Renowned Cardiac Surgeon and Medical News Minute Founder, Dr. Robert Lazzara, Joins ORHub Team as Chief Medical Officer
Former Virtual Operating Room President, and Partner in Physician Owned Companies Generating $100 Million Annually, Brings Wealth of Knowledge, Passion and Purpose with Drive to Advance the Surgical Industry
https://orhub.com/2019/06/26/dr-robert-lazarra-joins-as-cmo/
TEMPE, Ariz., June 26, 2019 – via NetworkWire – ORHub, Inc. (OTC: ORHB) ("ORHub" or the "Company"), a Microsoft Silver Partner and cloud-based healthcare analytics company focused on the business of surgery, today announced that distinguished cardiac surgeon and medical media expert, Dr. Robert “Bobby” Lazzara, has joined the ORHub team as its chief medical officer.
Dr. Lazzara has a special interest in implementing the latest technology to serve the healthcare industry. He was so impressed with ORHub’s Surgical Spotlight application, a cutting-edge intuitive and power-ful analytics tool that helps administrators, nurse leaders and surgeons make targeted business decisions, that he quickly made the decision to get involved.
Dr. Lazzara performed the first worldwide webcast of open-heart surgery in August 1998 through the Virtual Operating Room and, subsequently, MDiTV, Inc. broadcast the first live cardiac surgery over a smartphone on Dec. 15, 2009. He is a Smithsonian Laureate for his pioneering work utilizing the Inter-net and information technology as a health care educational tool. Dr. Lazzara has been a member of ad-visory boards and a consultant to major corporations and medical device companies.
Dr. Lazzara’s passion encompasses the incorporation of digital technologies and virtual reality in the medical industry. He dedicates himself to advancing education in healthcare business development, medical device consulting, and numerous other related educational and business services.
“Of dozens of facilities I’ve operated in throughout our country and worldwide, there has been no other comprehensive data system on the market that compares,” said Dr. Lazzara. “Being able to truly under-stand our cost and care decisions will heighten the level of cost-effective patient care and optimize the overall efficiency for our entire healthcare system.”
ORHub’s advanced technology arms healthcare providers with a comprehensive understanding of all factors involved before engaging any component of a treatment plan.
“In this day in age, for the sake of optimum efficiency, data is a vital necessity,” stated ORHub CEO Colt Melby. “Dr. Lazzara is a trusted influencer in the healthcare community and we welcome his keen insights and the additional expertise he brings to achieving our company’s mission.”
ORHub, Inc. Signs Contract with Anderson Regional Medical Center
TEMPE, Ariz., June 24, 2019 – via NetworkWire – ORHub, Inc. (OTC: ORHB) (“ORHub” or the “Company”), a cloud-based healthcare analytics company and Microsoft Silver Partner, today announces it has signed a contract for a 30-day trial of Surgical Spotlight® with Anderson Regional Medical Center, which is anticipated to materialize as a long-term contract.
Anderson Regional Health System, which operates several facilities, including Anderson Regional Medical Center, performs approximately 20,000 surgeries per year and is committed to quality.
Dr. Keith Everett, chief medical officer, said, “Quality and performance improvement are ongoing, organization-wide activities that extend to all aspects of inpatient and outpatient care. Using Lean principles, we provide care that is patient-centered, safe, timely, effective, efficient and equitable.”
ORHub’s Surgical Spotlight is an example of an innovative solution that assists in Lean process improvement.
Things a coming together.
ORHUB, INC. Identifies Over $5M in Financial Opportunity at Partner Hospital
Tempe, AZ, June 17, 2019 — ORHub, Inc. (OTC: ORHB) (the “Company” or “ORHub”), a Cloud-based healthcare analytics company and Microsoft Silver Partner announced that it has identified and presented over $5M in achievable annual economic opportunity with a flagship partner hospital using Surgical Spotlight®.
ORHub’s Surgical Spotlight helped the facility analyze their OR operations including more than 40,000 surgeries, and five OR operational facets to find over $5M in annual opportunity. Surgical Spotlight identified seven initiatives across all facilities with an economic impact of over $2.2M annually. The facility is forming a team dedicated to the initiatives for sustainable change. They will roll these initiatives out more broadly once the changes have been implemented successfully.
The assessment is repeatable for other Surgical Spotlight customers and ORHub expects to find similar financial opportunity with each one.
ORHUB, INC. Begins Implementation of Surgical Spotlight with first Prime Hospital Network facility
Tempe, Arizona, June 13, 2019 -- ORHub, Inc. (OTC: ORHB) (the "Company" or "ORHub"), a SaaS- based healthcare data analytics company focused on the business of surgery to improve the profitability of hospitals, ambulatory surgery centers (ASCs) and health systems, today announced that it has begun implementation of Surgical Spotlight® with a Prime Healthcare facility.
The implementation began two weeks ago with an exchange of information. ORHub will kick off training of the business users this week with the goal of demonstrating that surgeons and administrators can create financial opportunities and improve patient care with better access to shared, relevant and reliable information. Once the pilot location is complete, the goal is to expand to include more operating rooms within the Prime network of 45 hospitals across 14 states.
ORHub is confident in its ability to demonstrate success as past facilities were able to identify over US$3.0 million of opportunities within days of the implementation. Those facilities have already made changes using Surgical Spotlight® to recapture that opportunity.
It appears we are making a turn..........
It's only a lose if you sell, I'm down the price of a new R8, indeed my account statement looks like OJ's front porch, that said I think there is reason to stay the course. The redesigned and more affordable software is being widely accepted and praised, the raiders can't have much more stock to dump, the Attorneys are dealing with the problems and the Veterans Memorial bridge will always be there if I need to jump.
We have not seen, nor I think will we see a form 4 form Colt. What we are seeing, I believe, is a type of "bear raid" to damage the ability of the company to raise capital in an attempted Coup.
No you didn't.
Huge hurdles have just been cleared.
Majority of Note Holders Vote for Conversion into Equity of All Outstanding Series 2017-A 12% Notes
TEMPE, Ariz., April 23, 2019 /PRNewswire/ -- ORHub, Inc. (ORHB) (the "Company" or "ORHub"), a SaaS-based healthcare data analytics company focused on the business of surgery to improve the profitability of hospitals, ambulatory surgery centers (ASCs) and health systems, today announces that pursuant to the terms of the Series 2017-A 12% Notes (the "Note"), the Board of Directors initiated a Note Holder vote on April 11, 2019 by way of ballot (see "Exhibit I") pursuant to Section 8.2 of the Note Agreement that allows for amendments to the Agreement, "by an affirmative vote of more than 50% of the Note Holders with votes tabulated by the principal of the Notes held by such Note Holders, including any accrued and unpaid interest. If any amendments are proposed, Note Holders will receive 10-day notice of the proposed amendment with a ballot" or "Amendments may also be made by consent of a majority of the Holders in which case other Note Holders will receive a notice of such Amendment."
If they're just riding this to the ground, why spend money on the 10k, S-1, 8k??? Money they could just as easily, as you put it," give away for undelivered services."
TEMPE, Ariz. and NEWPORT BEACH, Calif., April 2, 2019 /PRNewswire/ -- ORHub, Inc. (OTC: ORHB) (the "Company" or "ORHub"), a SaaS-based healthcare data analytics company uniquely focused on the business of surgery to improve the profitability of health systems, hospitals and ambulatory surgery centers (ASCs), today announces that ORHub is sharing its Surgical SpotlightTM efficiency dashboard at the AORN 2019 Global Surgical Conference and Expo from April 7-9 in Nashville, Tennessee.
(PRNewsfoto/ORHub, Inc.)
"AORN is the world's largest association for perioperative nurses and this serves as a unique opportunity to engage with direct users of ORHub's Surgical SpotlightTM analytics platform," said Colt Melby, Chief Executive Officer of ORHub. "There will be over 5000 attendees of which over 2000 participants have influence over buying decisions for their facilities. We expect an interactive dialogue on how the nursing community can benefit from technology solutions that will alleviate the burden of care due to complex institutional inefficiencies."
Date:
April 7-9, 2019
Booth:
3138
Location:
Music City Center, Nashville, Tennessee
Surgical SpotlightTM is a differentiated platform that links OR efficiency metrics to real-time cost data for materials and labor. Implementation of the Surgical SpotlightTM custom dashboard is lightweight and doesn't require EHR integration, costly analysts or complicated software. Its cloud-based data feeds populate dynamic dashboards that can be used by administrators, surgeons and nurses.
Rampant chicanery refected in the current price of this stock, it is my hope that they are taking steps to end it. I believe only two parties have stock at less than 33 cents, Company insiders and the MREG crew. No form 4 has been filed by insiders. Why dump 7 million shares thus far, stomping on your own dick? Why? Why? Why? Can they realy believe they are going to get it ALL back.