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Can you translate dingbatt script?
The accounting and legal work in this situation is a lot like an IPO. The financials are just a piece of it. No doubt RNVA has been consulting with the SEC for months on the FOXO share exchange. All good.
No, FOXO got out of that business.
Still pink. I'm thinking it will stay pink until new SEC registration application(s) is(are) approved. Audited financials involved, but we don't even know what ticker symbol and exchange they will be filed under yet.
Pink on my screen.
Thanks. Good for the rest of us. Clearing out the resistance.
SEC registration application(s) in progress. RNVA has surely been in consultation with the SEC about it for months, before and after the share exchange agreements were reached. EM not just overblown but irrelevant. RNVA works through a SEC desk officer to which it is assigned. I don't know the procedural details, but I'm sure we're good.
FOXO had been shopping an MA for quite some time. Giving up their patents for a piece of a much larger profitable company capable of commercializing them, and putting up $2.5 million for the privilege.
Plus, FOX threw in $2.5 million.
Don't hold me to this exactly, but I'm estimating that RNVA (Rennova Health, Inc.) will own 85% or more of the equity in FOXO (Rennova Community Health, Inc., Myrtle Recovery Centers, Inc., and FOXO Technologies, Inc.).
He can't say much privately that has not yet been made public. I'll wait for the proxy material, but all good from what I've seen so far.
Exactly. The RNVA CEO and BoD will control FOXO. RNVA shareholders will own the equity they control. The value of their equity depends on the value of our equity.
We don't yet know how or even if FOXO Technologies will be listed either, or if maybe Myrtle Recovery will be listed. Discussions of late filings under the RNVA "ticker" miss the point.
The share exchange agreements will make Rennova Healthcare, Inc. the parent company of wholly-owned subsidiary FOXO Technologies along with Myrtle Recovery which is already a wholly-owned subsidiary. That much is not a theory. We should find out more about how Rennova Healthcare, Inc. will be listed when the proxy materials come out, but it really shouldn't matter. The fundamentals are the same.
Rennova Healthcare, Inc. "will file with the Securities and Exchange Commission (the “SEC”) and furnish to the Company’s stockholders a proxy or information statement and other relevant documents." With shareholder approval, the stock exchange agreements become effective "on approval by the NYSE, of a Supplemental Listing Application (SLAP) submission as required by the NYSE."
No EM. Not about late filings. News of next step any day.
I'm sure Rennova Healthcare, Inc. is fully engaged with the SEC and relevant exchange(s) on the FOXO MA, the pending proxy material, and the financial filings relative thereto. RNVA is being upgraded, not downgraded.
Breakout from the 000s inevitable. The CAH fixed-cost reimbursement model has been proven out in Rennova Healthcare, Inc.'s two years of dynamic revenue and earnings growth. Cost of revenue falling off the other side of the P/L, including interest on debt reduced. CAH adds a great deal of certainty in revenue and earnings trend.
Preferred share warrants on 400 billion common shares expired. Corporate equity buybacks at a major discount of the other 100 billion locked in at .0001 no matter how high the market price rises. Now on track to NYSE listing (as RHCI maybe?).
WTF?
2023 EPS = .00012 or a current PE of 0.83. A PE of 10 = a price of ,0012. A PE of 20 = a price of .0024. A PE of 25 = a price of .003. The market gods must be stupid.
Money talks, this stock soars.
$5.2 million in 2023 earning, or a PE of 0.83 on 43 billion shares at .0001 per share. You can't tell the difference between horseshit and honey.
We don't know yet if the existing FOXO technologies will have its own listing (on OTC) or if RNVA has a plan for INQR relative to the existing FOXO technologies. Either way, the agreements add fundamental value to RNVA and FOXO.
Yes, FOXO technologies (patents, patents pending, and perhaps expertise), along with Myrtle Recovery, will be a smaller wholly-owned subsidiary of Rennova Healthcare, Inc.. The NYSE listing will belong to Rennova Healthcare, Inc.. RNVA shareholders will own all of those. It's right there in the title of the RNVA press release:
RENNOVA HEALTH, INC. ANNOUNCES STOCK EXCHANGE AGREEMENTS WITH FOXO TECHNOLOGIES, INC. FOR TWO OPERATING SUBSIDIARIES
Thank you for proving the bulls' point. Rennova's turnaround since that story over three years ago is astounding.
A real space oddity.
You should change your IHub user ID to The Ticker Whisperer.
Yes it is..., with tons of I told you so's coming due. I know I sound like a broken record, but in three decades trading I have never seen an OTC pink stock with a full year of significant earnings, much less a full year's earnings at a PE of 0.83. Investors/traders, do the math!
Just enter the order and sit back. It will fill much sooner than you think.
Jay, if you believe you were swindled, just sell and move on.
Not realistic. The DoC has too many flagrant fraud cases to pursue. The complaint is false on its face. Read it. It claims Rennova is not even a healthcare provider. PPP never guaranteed the plaintiff would get to keep his job. Not going to trial.
Well, then let us know when it is dismissed or settled for some small amount the lawyer can't afford to reject.
Cellar boxed, but breakout inevitable.
Then you are mistaken.
Not the issue at all. The issue is an MA with a NYSE listed company in which RNVA gains controlling interest. When the proxy material is filed, the FUDs will come up with something else to throw you off.
You just wait the plaintiff out on a nuisance suit like that. I doubt the attorney can even afford to front the cost of discovery on it. RNVA can show the COVID funds helped save a rural hospital and all the jobs there.
I read the complaint and the RNVA answer a long time ago. I know.
RNVA is not a bit worried about that suit. RNVA is trying to complete the MA. All filings relate to the MA. More like an IPO at this point. Well see the proxy material and audited financial soon.
Of course not. It is nuisance suit.
Who says it is going forward?
Werbe, nothing new about your post. Even if it does go to trial, the plaintiff won't win. RNVA had an independent audit of COVID funding done, provided it to the federal government, and the DoC hasn't filed shit. If you don't post the RNVA answer to the complaint, you are intentionally trying to mislead everybody. That simple. This is a lawsuit by a disgruntled former employee who thought the COVID relief meant he would get to keep his job. COVID loans could be used for virtually any legitimate cost of doing business.