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Cash flow
Mitesco’s business model is cash intensive, as are most physician practice companies. On the front end are new clinic construction costs, as well as clinic overhead until each reaches normalized revenue levels. In addition, is the need to fund accounts receivable, as the Company seeks to be a key provider to insurers in its markets. We are taking a conservative approach to modeling clinic accounts receivable averaging 90 days (DSOs). A clinic generating $1.0 million in revenue, would have $0.25 million in AR. This amount would grow to $0.38 million for a clinic with $1.5 million in revenue. The level of DSOs for each clinic will vary by revenue mix; clinics with a high level of ancillary product and service sales, will likely have lower DSOs as these items will be cash payment at time of service.
Our model assumes six clinics at the end of 2021 (two clinics opened on December 30, 2021), growing to 98 by the end of 2026. Under these assumptions, we estimate that the Company will not generate positive free cash flows (after capex and working investment) until 2029. However, given our aggressive clinic roll-out and conservative working investment need assumptions, our timeline may be flawed. Mitesco’s management guides to new clinics being operating cash flow breakeven at 14 months; for clinics tied to narrow network insurers, management believes operating cash flow breakeven will occur in about half that time.
Balance Sheet
At December 31, 2021, Mitesco had $1.2 million in cash and equivalents on its balance sheet. The Company raised approximately $3.7 million in capital in the last three months of 2021. Management indicates a preference to finance clinic construction costs with short-term debt and a 12- to 18-month payoff, as a way of reducing dilution to existing shareholders compared to equity financing.
Not from their last projections.
All fake!
For 2022, we look for revenues of $17.8 million, based on 17 clinics in operation at year end (12 clinics opened during the year). We model average clinic revenues of $1 million in the first year, based on 60% capacity utilization. For more mature clinics, we model revenues of $1.5 million, based on 80% utilization. Depending on the timing of new clinic openings, it’s possible that reported costs will also differ materially from our estimate.
We assume that operating costs for each clinic are largely fixed at $0.9 million per year, excluding construction and start-up costs. For 2022, we model $15.7 million in COGs, a clinic level gross margin of 12%. We’ve modeled $4.9 million in general and administrative costs for 2022, interest expense of $0.8 million for clinic construction debt financing, and other expense of $0.7 million. Earnings are forecast to improve from $(0.06) 2021 to $(0.02) in 2022.
We expect the Company to report breakeven net income in 2023, based on our revenue estimate of $36.7 million (32 clinics at year end), 19% gross margin, 5% operating margin and $0.2 million in net income to common shareholders.
Cash flow
Mitesco’s business model is cash intensive, as are mos
Look I’m calling out the facts from the S1. I don’t care what you believe.
Vista stock while in possession of material, adverse and nonpublic information, which allowed them to avoid losses in the amounts of $397,362.38 and $421,563, respectively. The Commission's complaint and amended complaint alleged a wide-range of securities law violations, including that misstatements were made by Vista in filings with the Commission.
Who was the CEO TNTY that brought Larry? Huh can’t remember, I think he got convicted by the SEC!
Great your probably another insider!!! OTC bull shit.. remember it all start with R
How can I forget the Laptop legend videos at the height! Threeflight hated them!
The people that were here from day one
Threeflight, darklady stockgambit and gonzalo!!
Pumper goingforit today
STOckwitch
Drevwv pumper!!’ Thiscouldbetheday same pumper!! Austro pumper
Threeflight was right should sold at .50 cents!
Believe what you want I got a lot of people in this from .02 cents
We have more people calling and complaining
Together we have over 10mm I hope you have enough powder!!!!
And remember that the people touting a stock may well be insiders of the company or paid promoters who stand to profit handsomely if you trade.
I’ve seen the same bull crap comments on different boards by the same insider clown!!! BEWARE!!!!
Dump coming now, bag holder hitting the exit! Might be time to unload this POS!
Unsuspecting investors then purchase the stock in droves, pumping up the price. But when the fraudsters behind the scheme sell their shares at the peak and stop hyping the stock, the price plummets, and innocent investors lose their money.
Fraudsters frequently use this ploy with small, thinly traded companies because it's easier to manipulate a stock when there's little or no information available about the company. To steer clear of potential scams, always investigate before you invest:
Here are a few steps you can take:
Don’t Believe the Hype
For investors, unbelievable investment opportunities can be public enemy number one. If you hear about an investment opportunity that sounds good to be true – whether on the Internet, through an email, a fax, a voice mail message, a text message – you name it. Listen to your – insert caring relative’s name here – and assume it’s a scam, unless you can prove through your own research that it is legitimate. And remember that the people touting a stock may well be insiders of the company or paid promoters who stand to profit handsomely if you trade.
Find Out Where the Stock Trades
Many of the smallest and most thinly traded stocks cannot meet the listing requirements of the Nasdaq Stock Market, the New York Stock Exchange, or other national securities exchanges. Instead they trade in the "over-the-counter" market and are quoted on OTC systems, such as the OTC Bulletin Board or the Pink Sheets. Stocks that trade in the OTC market are generally among the most risky and most susceptible to manipulation.
Ask stacking up again, going to .05?
How low does this need to go to kill the dream?
I agree with you the model need to integrate with fitness and health.
As building them in high rise building as a amenity that idea hasn’t panda out. Healthy millennials aren’t going to the Good Clinic at the level needed to make it sustainable business.
The realty is elderly people go to multiple doctors a week because they are sick and want to stay alive. The model should of focused on this age group, also living thru a Pandemic this could of been the best time to grow the business.
It’s sad to see Larry promoting flu shots on Linked in, I guess no more marketing dollars.
So now they owe 375k
60 months, with no revenue.
100k in three month, isn’t going to cut it.
The business sucks! Preventive care doesn’t sell. If by the glory of god this we’re listed with their terrible revenue numbers they will be in the cents in less then 1 year. Revenue and growth matter
Not profit!
The most common problem are the puffer fishes. They’re those that tout how great their business is, but who may have unrealistic expectations on their abilities and the growth within the market.
To be listed on the NASDAQ exchange and reporting system, the following requirements:
Shareholders Equity of at least $2,000,000
At least 100,000 shares of public float
A minimum of 300+ shareholders
Total assets of $4,000,000
At least two market makers
$3 minimum bid price of the company stock
Public float market value of $1,000,000
Can alternative offerings “graduate” to the NASDAQ
It has been rumored number of pushers for reverse mergers tout the ability of a company now listed on the Over the Counter (OTC) exchanges can “graduate” to NASDAQ or the NYSE. This is certainly possible and many salespeople will reference some big names like Turner Broadcasting, Occidental Petroleum or Berkshire Hathaway.
In a former life, when the NASDAQ was not as big as it is today, this was certainly more prevalent, but each of these companies would now be a wide exception to the rule. Unfortunately, transitioning to larger exchanges is much more difficult than many micro-cap business owners and management assume. However, it’s not out of reach as the numbers above showcase. Your best bet for being able to step up to the next exchange: build a good business that is investable. That is, focus on the business and not the financial engineering behind the business. If you have a great business, the money will flow in, the stock price will increase and the transition will be more than natural. The most common problem are the puffer fishes. They’re those that tout how great their business is, but who may have unrealistic expectations on their abilities and the growth within the market.
It does have to do with share holder equity and a 4 dollar stock price. And .07 and going lower those numbers don’t work!
That is IF they meet all of NASDAQ’s requirements. They don’t have revenue or cash in that bank. Nasdaq is just a dream at this point.
They owe BOA
And have 6 mechanical leans that could become foreclosures.
Ha ha All facts from today’s S1A
I’m sorry you don’t like facts!
The mechanic’s liens described above on six of our clinics total $2,191,861.
All liens were filed pursuant to Minnesota’s and Colorado’s Mechanic’s statutes and relate to past due obligations for construction and related work on certain of our clinics. Pursuant to Minnesota’s and Colorado’s Mechanic’s statutes, the contractor-creditors may have the ability to commence a mechanic’s lien foreclosure action against the real properties in question to recover amounts due, costs, legal fees, and interest.
Additionally, the mechanic’s liens could result in defaults under our leases for the affected clinic locations. If that occurs, the leases for the affected clinic locations allow for acceleration of amounts due under the lease, among other damages and remedies. If that happens, we would have to cease our operations at the affected clinic locations and we may lose some or all of our customers.
We are attempting to negotiate modifications to our agreements with the contractor-creditors. However, we cannot assure you that our efforts will be successful. If we are unable to timely clear the mechanic’s liens filed against our clinics or otherwise negotiate modifications to our agreements with the contractor-creditors, it will have a material adverse impact on our business, results of operations, and financial condition.
On July 21, 2020, Bank of America notified the Company in writing that it should not have received $440,000 of the loan proceeds disbursed under the Note. The Company investigated the terms of the application and discovered its former President had erroneously represented it was refinancing an Economic Injury Disaster Loan when no such loan had been received. Bank of America requested that the Company remit the funds received back to Bank of America. The Company is currently working with Bank of America on a repayment plan. If we are not successful in negotiating repayment terms, it could have a material adverse effect on our financial condition.
Bleeding
Six Months Ended
June 30,
2022
2021
Statement of Operations Data:
Net sales
$ 289,461 $ 11,216
Cost of products sold
1,194,510 5,318
Gross (loss) profit
(905,049
)
5,898
Total operating expenses
4,904,758 2,356,118
Loss from operations
(5,809,807
)
(2,350,220
)
Total other expenses
(1,640,672
)
(1,521,645
)
Net loss
(7,450,479
)
(3,871,865
)
?
If we are unable to generate significant revenue, we may need to raise additional capital which may not be available to us on acceptable terms or at all.
?
We may incur additional debt in the future which may contain restrictive covenants.
?
We have identified weaknesses in our internal controls, and we cannot provide assurances that these weaknesses will be effectively remediated, or that additional material weaknesses will not occur in the future.
?
The issuance of additional shares of our Common Stock and Warrants, or securities convertible into shares of our Common Stock, may dilute the percentage ownership of our existing stockholders and may make it more difficult to raise additional capital.
?
Our operating results and liquidity needs could be negatively affected by market fluctuations and economic downturns.
? Mechanic’s liens were placed on six of our clinics that could have a material adverse impact on our business, results of operations, and financial condition.
We are applying to list our Common Stock, Series A Warrants and Series B Warrants for trading on the Nasdaq Capital Market, but we cannot assure you that we will meet all of the required listing standards.
They don’t meet any of the standards!
We cannot assure we will be able to compete in the markets in which we operate which could cause you to lose your investment.
Another S1A lol really wtf
Market under the symbols “MITIW” and “MITIZ” respectively, but we cannot assure you that we will meet all of the required listing standards.
The filing had them .09 cent, now even lower. At this rate they might need 200 to 1.
Ask stacking up, this heading to .06.
Micro loans are only going to take you so far!
From .02 to .59 cents
Back in .07 and probably heading lower, inflation is here and capital markets are a mess.
Wait until they report another 100k quarter of revenue. We’re is the ramp up? No buy in from the consumer!
S1 after S1 with nothing to show?
This going back to .02 cents.
I’m about to bail too, you have all valid points.
Can wait to see the ramped up revenue. Multi locations over a year of operation.
If not this going way lower!
Hey your entitled to your opinion, all I know I have a few friends and family in this and they are ready to pull the plug. Together we have a couple of million shares, once the dam breaks it could get ugly here. .02 could be a real possibility and up list would not happen.
They are a legitimate business, their troubles are because low revenue and high cost to build out the network.
Inflation, recession and the stock markets are a mess.
Higher rates for lending and the Nasdaq is in a bear market.
Bankruptcy is a real threat. Scary times
Under .10 cents, quarterly revenue must of been terrible. Investors looking to bail on this.