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Question -
Yes, ssc brings up a good point - don't be mislead. For example, ssc said 'Lorsch releases headline claiming $43 million in revenues going into 2012.' In fact, the PR said.....
MMRGlobal Goes Into 2012 Highlighting $43 Million in Projected Revenues From Existing Signed Agreements
LOS ANGELES, CA, Feb 08, 2012 (MARKETWIRE via COMTEX) --MMRGlobal, Inc. (OTCBB: MMRF) ("MMR"), a leading provider of Personal Health Records ("PHR"), MyEsafeDepositBox storage solutions and electronic document management and imaging systems for healthcare professionals, today announced that going into the upcoming HIMSS Conference and Exhibition, February 20-24, in Las Vegas (www.himssconference.org), it has entered into agreements for more than $43 million based on licensing and strategic partnerships pertaining to the Company's biotech and health information technology intellectual property, all of which are specifically described in, and or attached to, MMRGlobal's filings with the Securities and Exchange Commission.
As you can read, ssc uses the slight-of-hand technique to twist the words.
Be careful, very careful and don't look straight in their eyes.......
? -
Two pieces of advice: 1) do your DD and 2) make your decision & stick to it.
Z
If, as I stated, the $5m comes in and you stopped beating the same dead horse AND recognized that not all is BS just because it hasn't happened yet - I would consider you a believer! :)
And, let me add this.....since I used profits to purchase my lot - I can't lose!
Think about this.......Let's say several of the deals that MMRF has PR'd happen (which I believe will happen). The naysayers will complain the revenue was too late in the year or it wasn't enough. Let's say SCM pays the first $5m due in 2011, then the naysayers will complain it was paid late.
As for me, I'm positive on this company and it's future. If you don't own shares then your lot will never change - up or down based on the company's performance.. Basically, you can never win. Unlike me and others - we have a good opportunity to win and win big
Folks hate it when we close green or it gets 'painted up' at EOD. Enjoy the view - it won't last much longer!
Just listened and I agree. Patience and solid work will produce results!
Bar -
You just described an attorney's office! Come on - get real. I have 600+ people in my division and for the most part, our offices are clean, trash off the floor and not a lot of paper as we keep files electronically.
MMRF is a 21st century organization. I suspect they throw their half=-eaten lunches, breakfasts and dinners in trash.
:)
Zeke
Notice the word 'certified'.
Double :)
Iamadog -
well said. folks, give it a rest.
zeke
Think about it folks - the $5m comes in, the discussion about the $5m goes away and we rock on. I'm sure the focus will change to whether or not the next $5m comes or not!
I agree not every opportunity will pan out put not all will fail either.
Go MMRG
Try this link for image of the cashier's check.
www2.marketwire.com/mw/frame_mw?attachid=1865676
yep. green is better than red. support holding :)
Folks, time will tell how all of this works out with mergers, $5m, patents, China, Chartis, deals, NASDAQ, etc... Constant discussing of the same thing over and over again is useless and in no way is going to alter the course we are on. Board talk is cheap and easy becuase we don't have to produce.
As for me, I'm all in and doing so with my profits and if I lose every penny, so be it as I have already made my money twice. I'm in for the duration and believe this company has great promiose. And by the way, not every deal is going to pan out or produce - that's called business. Little risk - little gain, bigger risk - bigger gain and farther to fall. No guts no glory. Rah, rah.
Zeke
Three - thanks for the reports and perspective. Extremely valuable. Z
Three - as always a scholar & gentlemen that calls 'em they way he sees them. Thanks a boatload and make sure you get some rest. Z
As for me, I do not have any issue with the comp. of BL or for any of the other team members. These folks are taking risk and there is a level of reward that awaits when there is success. Much of the current comp. is risk - not cash in hand every 2 weeks. We live in a capitalistic country where risk/reward/failure is the name of the game. If someone doesn't see the value in MMRG for the level of risk they are assuming, then may I suggest buying t-bills. As for me, the risk-reward for MMRF is right up my alley - I beleive in the company, its direction and velocity.
Three - awesome report. Love your directness and quality! Z
Three - thanks for taking your time & money to attend as well as providing valuable feedback. I look forward to further reports. Z
Excuse me. In the .03s. I firmly believe we're on the right track.
Tap - pps .045 or so. I don't think we'll be at .03 by eod.
New BL Blog Post.....
I Must Have Seen It Coming
Posted by Robert Lorsch
It’s been one whirlwind week and I cannot help but reflect on some of the events in my life as I prepare for another whirlwind week in Las Vegas at the Consumer Electronics Convention. MMR will make Personal Health Record history at the show, participating in the first demonstration of a PHR that connects to real time wireless monitoring to a Personal Health Record. The implications are significant, as this shows that we can monitor patient care in our PHR over wireless networks, using Bluetooth and other cellular technologies.
Back in 1983, Judge Green struck a blow for the little guy by ordering the breakup of AT&T into a series of Regional Bell Operating Companies. You might remember Pacific Bell, Bell Atlantic, Southern Bell, Mountain Bell and a few others. That allowed companies like Sprint, Frontier, Verizon and MCI to emerge.
The idea behind this breakup was to “standardize” the delivery of telecommunications and other services of tomorrow, which carriers are providing today. Unfortunately, it didn’t work and, as we saw by the government’s shut down of the merger with AT&T and T-Mobile, AT&T is still the monopoly it was then, today.
Six years ago, I saw history begin to repeat itself in healthcare. In the last two years of the Bush administration and then the Obama healthcare plan, I realized that healthcare was going digital, the government again wanted standardization, and this time I saw an opportunity to be a part of it.
Everyone was talking about how to standardize electronic medical records, while the industry was building their own proprietary systems; hence no standardization just like after the break-up of AT&T.
Kaiser was on its way to spending more than five billion dollars on an electronic medical records and personal health records system, while hospitals everywhere were spending hundreds of millions to start. I did not believe the possibility that these organizations would throw their investments into a common pot to embrace standardization.
So I embarked on a search for the one “standard” in a medical facility in 2005 and still today – which seems to be the fax machine. I believed that if medical records were to move in a digital world, they would move by fax and digital fax, since fax was the only transmission vehicle in every medical office anywhere in the world. And as a result, with a reported 25% adoption of EMR systems in the United States, fax and digital fax over the Internet is a preferred way of transmitting medical records under the new healthcare standards and regulations.
I visualized floor to ceiling shelves packed with files containing foot-thick medical records on paper. I saw how my own doctors had rented extra offices just to store their records. I saw a future where all medical records had to get somewhere to be part of an EMR or a PHR. Knowing that many doctors do not like email and that most people still are not sophisticated at scanning, I saw a future for the next 10 to 20 years where fax would be the closest healthcare gets to standardization. This led to my basic idea around what today has become MMR’s Method and System claims for faxing medical records into an online personal health record account. And looking back nearly six years, it appears I was right.
As an inventor, I have had many major patents in my name, like the blockbuster swipe activation patent for activating prepaid cards at retail, under U.S. patent application Ser. No. 08/410,857, filed Mar. 27, 1995. So I began the process of filing patents covering the delivery of medical records to online personal health records accounts, as well as the related features and benefits that such a product and service could offer a consumer and their family.
This past week, MMR has received three Notices of Allowance from the U.S. Patent and Trademark Office for numerous claims that include everything from faxing into personal health records, which also includes Internet-faxing, calendaring applications for doctor’s appointments, prescription reminders and access to medical records in an emergency room setting in emergencies, and many more. Many of these claims are already included in patents globally, with many more claims still under review here and abroad.
When I started in telecommunications, I met a man who became somewhat of a mentor named Ron Katz. He amassed a patent portfolio around the simple process of pushing a number on a touch tone phone, which, nearly 25 years ago, was and today still is, a tool that is found in nearly every home and office in the world. And as a result of Ron’s thinking he is estimated to be nearly a billionaire today.
As I head off to the Consumer Electronics Show in Las Vegas next week, I can only say what a great way this has been to start the New Year, and what a great country this is for the little guy.
Robert H. “Bob” Lorsch, CEO, MMRGlobal
4401 Wilshire Blvd., 2nd Floor, Los Angeles, CA 90010, Tel. 310-476-7002
Follow me on Twitter: @BobLorschTweets
I made my prediction on 14NOV with post #37699. I might be optimistic, but my mind hasn't changed!
-Hermso - I'll go on record with a PPS projection: Minimum of $0.15 by results of 1Q2012 to a high of $0.23 by results of 1Q2012.
Here it is
Bob Lorsch (@BobLorschTweets)
1/2/12 2:08 PM
#MMRGlobal ends 2011 CONFIRMING issued Notice of Allowance for US Patent Method and System for Providing Online #Personal Health Records
I would take that type of a return in 2012.
Ladies & Gentlemen -
Have a Merry Christmas and a Happy New Year!
Zeke
A Double :)
Form 8-K for MMRGLOBAL, INC.
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20-Dec-2011
Other Events
Item 8.01 Other Events.
On December 16, 2011 MMRGlobal, Inc. ("MMR") entered into a Deal Memorandum (the "Memorandum") with JER, Inc. ("JER") and Skin Cancer & Reconstructive Surgery Specialist of Beverly Hills ("Reconstructive"), two distinct but affiliated entities. Pursuant to the Memorandum, the parties have agreed to the principal terms of a transaction to be negotiated and potentially consummated by the parties (the "Transaction").
1. MMR is a publicly traded company that provides internet-based consumer-controlled personal health records, an electronic document imaging and management system for healthcare professionals incorporating a patient portal for patients, and electronic safe deposit box solutions, all of which are based on proprietary, patented technologies for secure storage, retrieval and sharing of personal health information and other important documents (the "Health IT Products"). MMR also owns a patent portfolio and maintains separate licensing agreements for the Health IT Products and biotech assets acquired from a 2009 merger with Favrille, Inc. The parties have agreed that the Biotech assets will be spun into a separate entity on a tax neutral basis for the benefit of existing shareholders prior to or concurrently with the Transaction.
2. JER and Reconstructive have represented to MMR that they have recurring revenue management service ("RMS") agreements to provide revenue management services with healthcare professionals, including but not limited to affiliates of JER and Reconstructive. JER and Reconstructive have also represented to MMR that they will continue to develop additional JER Agreements which could include running in tandem with MMR product and service offerings.
3. JER has also represented to MMR that they are in the business of, amongst other things, purchasing medical and Workman's compensation insurance?accounts?receivable and plans to continue to do so on an ongoing basis in addition to the business of MMR. JER currently has at least $150,000,000 in accounts receivable, which would be contributed to MMR on closing of the Transaction.
4. Reconstructive is a Health IT company that has represented to MMR to have its own proprietary patent pending electronic health records ("EHR") and practice management software. Reconstructive has annual gross revenues under generally accepted accounting principles in 2010 of approximately $8,000,000 and EBITDA of approximately $3,500,000, and comparable or better annual gross revenues and EBITDA for 2011.
5. JER and Reconstructive have represented to MMR that together they are in the revenue cycle management business that automates and manages billing-related functions for physician practices assisting them with the handling of claims and billing processes to help manage reimbursement and includes a practice management platform.
6. JER and Reconstructive at a minimum will transfer all of the assets described above including but not limited to all of its business, goodwill, real property, accounts, assets, tangible and intangible personal property, all ownership interests in its business and assets, including stock, or property to which it has a right to acquire in the future, to MMR in exchange for the issuance of preferred stock of MMR (the "Preferred Stock"), with?the terms?of such Preferred Stock to be negotiated between the parties (the "Transaction"). The Preferred Stock is intended to represent a fair portion of MMR's equity as determined by one or more independent investment banking firms.
--------------------------------------------------------------------------------
7. The Transaction and its final structure is subject to a number of conditions and contingencies, including, but not limited to, independent valuations and a fairness opinion by a top tier investment banking firm selected by MMR, as well as the negotiation and acceptance of a definitive Merger Agreement or Asset Purchase Agreement (as to be determined after discussion with the parties respective tax, legal and financial advisors), a final audit of JER and Reconstructive, satisfactory completion of due diligence and the receipt of corporate approvals for the Transaction to the extent required therefor.
8. JER and Reconstructive have also agreed to pay all outstanding balances under MMR's credit line with The RHL Group and to immediately replace such credit line with a substantially similar JER and Reconstructive credit line upon execution of the Memorandum.
9. On closing the Company will operate under the name of MMRGlobal. The parties plan on Robert Lorsch remaining as Chief Executive Officer after the closing of the Transaction.
The parties have agreed to use their best efforts to close the transaction as soon as reasonable possible given the time for audits, fairness opinions due diligence, proxies and other SEC filings to the extent necessary.
Pilot - great find. The bi side of the house feels like a sleeping giant. Zeke
Dip - The deal has been signed just as the PR stated. What you're discussing is whether or not MMRF will get all $30m. Think about it a different way - when you get a mortgage for your house and leave the attorney's office - it's a done deal in that you can move in the house but you still must pay the agreed to mortgage. There is always a chance of mortgage default. Still a done deal - but risk.
Strap on your seat belts boys & girls - this is going to be a great ride.
As I read the notes about the PR and the churn it has caused I often get the sense that many are here for the quick flip and profit. I'm OK with that as long as they are. As for me, I'm here for the longer term and have a different perespective. So, two different views of 'investing' in the same company. However, we all must realize BL is not here for the short term flip which often makes his actions/PRs, etc... seem odd, misleading, inadequate, vague to those investors wanting a quick profit. BL and MMRF are long term plays and is being built as such. The MMRF table is being set for greater things not just a flash in the pan.
good open
I'm on a plane (as usual). This is great news!
Can't get to my archives... Can someone expand on the comment 'if completed the agreement would include settlement of any potential claims by MMRGlobal (MMRF:$0.039,0$0.000,00.00%) against SCM and its affiliates for any past patent infringement.'?
Thx,
Zeke
I'm loving it!
Jiminy - I agree. I view this as a $3 minimum. At some point in the future, a penny here and a penny here will not make any of us shudder. Go MMRF!
Zeke
Forgive the typos in previous post. tough to do at 35,000 feet on iphone.
Three - I agree with you on the expectations of the call. Thanks for your insight & honesty! Zeke
Listening to the Chat made the horrible drive through Atlanta almost enjoyable. I laughed my tail off when Bob said someone's booth size at HIMSS was 5600 feet, the size of a small house! In my neck of the woods, 5600 feet is not a small house! :)