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I should be the one asking "again?"
When I stop seeing the false representation that MDHi promised things it did not promise I will stop correcting those false representations.
Exactly. And only the information about when they intended to file the audited numbers--not the rest of the bunk that was supposedly promised.
It is very simple, no company can control the work of an independent auditor. Therefore, any date given for the audits to be complete would have to be a guess. I completely agree that giving a specific date was a mistake as that date being a promise has become a rallying cry for complaints about MDHI but it was not a promise.
Never promised anything by any specific date. It would not be possible to promise such any such thing as the independent nature of an audit required by law would not allow ANY company to know when the auditor's work is complete.
Please provide proof of any promise made for any of those things in as SEC filing. Not just something somebody posts on a message board.
It is not possible to show any promise from MDHI because no such promise exists.
What exactly has MDHI "promised" that we have not received?
MDHI simply does not have enough volume to justify a claim of dumping. The purpose of the pump is to create enough volume to be able to dump.
To be able to net real profit from a dump of a penny stock, it is necessary to have daily volume that is in the multiple tens of millions and those companies strive for 100's of millions.
Use Joe Noel's last convertible note (if it wasn't one of the ones that was negotiated away) as an example. He was given a 25% discount over a moving PPS. The date that note matured, his purchase price was approximately .0013 for approximately 10 mil shares. Even if he sold all 10 mil @ .0015 his total profit would only have been $2000.00. It has been almost 5 months since that note matured and it would have taken almost that entire time to unload 10 mil shares. That comes to about $400.00 a month in profit since June 15th.
People claim that 2 or more people are trying to make money this way? Be serious. Nobody--I mean NOBODY--who participates in market manipulation is going to risk going to jail over that kind of profit particularly when almost all the news we get from MDHI is in SEC filings.
Take the time to review pumpanddumps.com. They now provide excel spreadsheets that review the trading of most of the stocks they cover. I can also provide the symbols of several companies where insiders dump their shares into the open market. In every case their daily volume jumps from hundreds of thousands (maybe a couple of million) to 40 mil, 50 mil, 100 mil and more.
That is what you see when insiders are dumping shares. It is not happening at MDHI.
That is good information from pumpanddumps.com
Please note that according to the full list of pump and dump campaigns from the same website, MDHI has never been a perpetrator of a single pump and dump campaign.
http://www.pumpsanddumps.com/p/hall-of-fame-m-z.html
Here is the relevant portion of the entire post.
"If the issuer of the securities is not subject to the reporting requirements, then you must hold the securities for at least one year. The relevant holding period begins when the securities were bought and fully paid for."
A lot of statements of "fact" not backed by any actual facts. Any proof to verify any of your claims?
Probably not since Coventry was acquired as a thriving insurance company for its contacts, contracts and revenue. It was not a bailout purchase.
SEC filings are sworn statements to a government agency.
I agree with every point.
I would like to add that upon publication of up to date audited financials we should get verification of the statements made under oath concerning at least 2 quarters of positive and growing operational cash flow.
I guess the analogy could apply to any stock depending on how you look at the analogy but I didn't mean it about the stock's value.
What I was addressing was buying shares of a non-reporting company like MDHI and then complaining that the company doesn't fully report to the SEC. Much like the home buyer should have known the nightclub would be loud at night--they all are, the buyer of a non-reporting company like MDHI should have known the company would not be filing report after report with the SEC.
It is the world of investing in penny stocks. There is nothing where "caveat emptor" applies more.
The vast majority do not.
MDHI was a non-reporting company when you invested in it and it remains a non-reporting company today.
To expect it to act like a fully reporting company before it becomes one and to complain that it does not act like a fully reporting company makes no sense.
To make an analogy, it is like buying a house next to a night club and then complaining about the noise from the nightclub.
The only thing I care about seeing right now is the up to date financials--preferably the up to date audited financials.
If you expect SEC filing after SEC filing about a company's daily operations, stay away from penny stocks. Like I said. MDHI is one of the better ones.
Try looking at pumpanddumps.com to see what you could have gotten yourself into.
That's what happens when investing in penny stocks. MDHI is 1000 times better than almost all of them but even with positive operational cash flow--which, by the way, we don't know how significantly positive it is since we don't have filings yet--- MDHI is just turning the corner.
Every SEC filing cost money. MDHI has more important expenses right now than non-essential SEC filings. It is the same reason MDHI fell behind in the first place. They had to prioritize expenditures with limited cash. Hopefully the positive operational cash flow continues to grow creating operational profits which will eventually lead to overall profits.
I am happy with positive operational cash flow to start.
ALL of MDHI's information is released in SEC filings, not PR's. The only point that a specific date was mentioned for releasing the financial info is in the DEF 14-c filed on 5-17-13 in which the following statement was made. I added the bold.
"the Company intends to have all of its delinquent quarterly and annual reports filed with the Securities and Exchange Commission by July 31, 2013."
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=9304062-996-36055&type=sect&TabIndex=2&companyid=786864&ppu=%252fdefault.aspx%253fcik%253d1443089
Others have taken this as a promise--which it wasn't--and then complain that safe harbor language was used when the lack of a promise is pointed out.
Every other specific date you have seen for the filings have been posted here and therefor are irrelevant to the conversation.
In general, I see it as the other way around. The 8-k gets filed and the info is picked up either as a PR or just as news.
The only news that matters with MDHI right now is audited financials. No fluff PR matters and when the financials are filed, there sill be news that gets out there either as a PR or just as news.
Re read it. Not sure what you are taking issue with.
My post # 31340 from 9-11-13.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=91923945
"Safe Harbor statements are not promises. That is why every company at every level--pink, OTC, NYSE, Nasdaq, Chicago, even grey sheets--uses safe harbor language in safe harbor statements.
A promise or guarantee would be "MDHI guarantees to be 100% compliant with all SEC filing regulations by June 30, 2013."
Anything short of that does not constitute a promise."
Your post # 31341 also from 9-11-13. I added the bold.
http://investorshub.advfn.com/boards/replies.aspx?msg=91923945
"Ya know.....I know that but "promise" is my own safe harbor MDHI chat....I think anyone dealing with this world realizes that MDHI makes "claims" ......the need to parse language should be universal on this board in my opinion. For example there is a daily ....hourly nearly post that says MDHI has the first 2 way wireless (My words).....and that's simply not true."
I'm not interested in PR's--just SEC filings because the information they include is under oath.. If an SEC filing is also released as a PR--so be it.
And the part about the big boys using safe harbor is exactly my point. Calling MDHI out for using safe harbor statements is ridiculous.
Enough with the complaints about safe harbor statements. You have already said you are aware that every publicly traded company of every size right on up to Apple and Google use safe harbor language in the forward looking statements they release.
As to Joe Noel, I couldn't care less about his involvement in MDHI as long as he is not part of the management team. He has just as much right to invest in MDHI and voice his opinion about it as you or I.
The current PPS is due to the lack of current financial information, plain and simple. I have speculated as to why the audited financials have not been released but you are correct that it is nothing more than a guess that is only one possible reason.
I was disappointed that the latest SEC filing was just more un-audited numbers as I was told this would not be happening but I do not take this personally. Sometimes things change and I guess something did that made the company believe doing this was the best option for the time being.
My appologies--it was a post by uksausage in response to one by you. I misread your name as the poster.
As we discussed repeatedly shortly after the increase in the AS, the insiders of MDHI control more than 51% of the outstanding shares and therefore don't need to have a proxy vote as they get more than the the required 50.1% of the shares voting their way without going to an open vote. There is even a company by law that the management team must own a certain percent of the OS--it is at or above 27% if I remember correctly.
We were notified by both letter and SEC filing that the approval had been given to raise the AS and what they intended to do with it BEFORE they raised the AS and OS giving anyone the chance to sell before the increase occurred. We were again notified by letter and SEC filing when the increases were actually implemented.
As to your other post where you claim the latest SEC filing shows a higher OS than AS you are indisputably wrong. There was an increase in the AS of 600 mil shares. The increase in OS since that point has been 582,943,741 shares. That leaves 17,056,259 shares available from the most recent AS increase + the 22,374,437 share gap between the AS and OS from just before the AS increase. Therefore MDHI still has a gap between the AS and OS of 39,430,696 shares.
You can do the math yourself. The AS and OS from before the increase comes from the March 11, 2013 information verified by the transfer agent and here is the information directly from the latest 10-Q:
"On May 17, 2013, as also disclosed in the Medical Alarm Concepts Holdings, Inc. (the “Company”) definitive Schedule 14C Information Statement dated May 17, 2013, a majority in interest of the Common Stock holders approved an amendment to its Articles of Incorporation. The amendment is effective upon the filing of the Amended and Restated Articles of Incorporation with the Nevada Secretary of State. On June 7, 2013, the Company filed an Amendment to its Articles of Incorporation (the "Amendment") with the Nevada Secretary of State, affecting the increase of its authorized number of shares of Common Stock (the “Authorized Share Increase). This amendment to the Company’s Articles of Incorporation increased the number of the Company’s authorized shares of common stock, par value $0.001 per share, from 800,000,000 to 1,400,000,000.
On May 28, 2013, the Company entered into an agreement with holders of its convertible debentures canceling all remanding warrants outstanding related to convertible notes dated March 2009 and all convertible notes dated at any time during 2011, 2012, or 2013. As of this date, all warrants outstanding have been cancelled.
On June 6, 2013 and June 18, 2013, the Company issued a total of 25,000,000 common shares for conversion of $5,000 of debt relating to notes dated July 27, 2011. The shares have not been registered under the Securities Act and were not registered or qualified in any jurisdiction.
June 24, 2013, the company issued 69 million shares for conversion of $13,800 of convertible debt. The shares have not been registered under the Securities Act and were not registered or qualified in any jurisdiction.
On June 25, 2013, the Company issued 481,674,510 restricted shares to various investors. The Company received total proceeds of $277,500 . Securities purchased in this offering may not be transferred or resold except as permitted under The Securities Act of 1933, as amended, and applicable state securities laws, pursuant to registration or exemption therefrom. Securities purchased in this Offering will be legended to reflect the foregoing rights and obligations. The Securities Purchase Agreement contains customary representations and warranties and covenants of the Company and the Buyers. Pursuant to the terms of the Securities Purchase Agreement, the Company has agreed to provide customary indemnification to the Buyers, their affiliates and agents against certain liabilities.
On August 14, 2013, the Company issued 7,269,231 restricted common shares to various investors for $16,400. Securities purchased in this offering may not be transferred or resold except as permitted under The Securities Act of 1933, as amended, and applicable state securities laws, pursuant to registration or exemption therefrom. Securities purchased in this Offering will be legended to reflect the foregoing rights and obligations. The Securities Purchase Agreement contains customary representations and warranties and covenants of the Company and the Buyers. Pursuant to the terms of the Securities Purchase Agreement, the Company has agreed to provide customary indemnification to the Buyers, their affiliates and agents against certain liabilities."
I believe I am replying to 2 posts together here but as I stated before in my eyes that blog had no more bearing on MDHI than many of the posts here and I din't trust it any more than what I read here in the often repeated posts--from people posting positives and negatives.
I would be willing to bet that IF Joe Noel has anywhere near $1.1 mil invested in MDHI--and to me it is a big IF---he is including the cash value of all the stock swaps he was involved in (I believe most or all of which have been wiped out by cancellations and at least one bankruptcy) and all the convertible loans and warrants (I believe most or all of which wiped out by cancellations).
I would want to see some real accounting of what those investments were before I simply took them at face value. I am not saying that he is not a large investor in MDHI, I just don't buy that he has as much as he says.
Also, using the current or recent PPS to value investments in MDHI dating back years is not really an accurate way to asses the number of shares he owns.
Of course, when you come back to our relative lack of knowledge about how MDHI is performing because we lack the current audited financials, you know we agree on that. I just happen to believe the statements made under oath to the SEC hold significant weight and that I expect to see those statements validated. Hopefully in the relatively near future.
You know full well I believe MDHI, its PPS and its shareholders are essentially in a holding pattern until MDHI provides us with up to date audited financials that verify the statements that have been made under oath in the recent SEC filings.
That does not mean misrepresentations about MDHI, the financials that have been released or MDHI's history in general are acceptable to me.
I don't know what the hold up in filing the numbers is.
I speculated at one point that since, as we know, the fiscal 2012 numbers are not particularly good--we have seen this from the un-audited numbers--they are waiting until the audits of 2013 are complete to post both because they are worried that providing the bad numbers alone will have a significant negative impact on the PPS. This is pure speculation. I have not spoken with anyone at MDHI since I gave my brief comments on my conversation about a month ago.
I would rather see the 10-k with the audited numbers just because it would show MDHI continuing towards full compliance.
I disagree with you on the fluff PR though. I believe that would do more harm than good. Look at the reaction to the PR stating that the audited financials had been received for both 2011 and 2012 before they had the full 2012 10-k completed and before they decided what to do with and when to release the 10-k for 2012.
I can do without PR's in general for now if MDHI comes through with the necessary filings.
My review of the sec filings show Joe's last purchase opportunity was June 8th in the conversion of a note. His price was @ 75% of the average of the lowest PPS during 3 of the the previous 5 trading days plus which came out to slightly less than .0012. and option to purchase additional shares @ .04something (I was looking at it last night)
However, the debt and options associated with this note that originated in June of 2011 should have been eliminated as per the 10-k filed 8-15-13 which states:
"On May 28, 2013, the Company entered into an agreement with holders of its convertible debentures canceling all remanding warrants outstanding related to convertible notes dated March 2009 and all convertible notes dated at any time during 2011, 2012, or 2013. As of this date, all warrants outstanding have been cancelled."
I believe that a significant portion of Joe Noels rights to shares were cancelled at the same time.
I don't believe you were saying anything in the post I replied to. In that post, there were multiple specific incorrect claims about about restricted shares that the company recently sold and how those shares are now being liquidated.
The explanation of what is going on is both verifyably incorrect based on facts, verifyably incorrect based on the legality of restricted shares and probably incorrect based on the common sense that anyone that just invested more than $16k less that 2 months ago would be rushing to dump that investment at a significant loss just for the chance to take advantage of innocent investors.
Even Louislasvegas, who certainly doesn't see eye to eye with me on MDHI, felt the need to comment on the absurdity of the original post.
So, your logic is that the man who supposedly ruins one company after another through pump and dumps where he lines his pockets with profits from buying and selling shares without care for the well being of the company itself has made the masterful move of buying more than 7 mil restricted shares at .002256 and is illegally dumping those restricted shares for the whopping profit of negative .000956 per share.
In other words, you are saying Joel Noel paid $16,400.00 for all of the 7,269,231 shares even though the SEC filing clearly says these restricted shares were sold to "various investors" and he is now purposefully dumping to get back $9450.00?
I don't think that is how the process is supposed to work.
The second quarter of fiscal 2013 ended on December 31, 2012, and the un-audited numbers for that period were posted in an 8-k on 2-12-2013. December 31, 2012 is the end of calendar 2012.
Here is the link:
http://yahoo.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=9076232&companyid=786864&ppu=%252fdefault.aspx%253fcik%253d1443089
Runners123 in post # 32521 said "Somebody found and posted 2012 financials that Ronnie has neglected to disclose" in which he was referring to often repeated lies by a third poster that the financial figures from the end on 2012 being presented had been purposefully hidden by Ronnie and/or MDHI only to be discovered by this poster. The proof of these numbers? A different link to the information from the same 8-k filed with the SEC:
http://www.faqs.org/sec-filings/130212/MEDICAL-ALARM-CONCEPTS-HOLDINGS-INC_8-K/ex91.htm#ixzz2adRt46bI
It will take a significant amount of time to look up and link to all the times this was said but I am willing to provide a few of the posts if you would like.
Unfortunately, nothing in that filing is new information and nothing in that filing is current audited financials. It is just like the 8-k that covers the financials through the end of calendar 2012 that you keep providing the link to and presenting as current information.
In multiple SEC filings MDHI has stated under oath that positive operational cash flow was achieved during the first calendar quarter of 2013. Until we see from that period forward MDHI is in a holding pattern. Repeatedly showing old financial information and presenting as current does not change that no matter how many times it is posted.
"Somebody found and posted 2012 financials that Ronnie has neglected to disclose"
Yes. The 2012 calendar year end financials were deeply hidden in an 8-k filed with the SEC under "SECTION 9 FINANCIAL STATEMENTS AND EXHIBITS".
Nothing like neglecting to disclose financials by posting them under oath with the SEC. How in the world did somebody find them when Ronnie them hid them so well?
That is exactly what I was talking about when I said information is many posts is provably wrong.
First, thanks for the compliment. Second, you shouldn’t be making investment decisions based on my opinion. I am just someone who invests a little in penny stocks because I believe they are the only chance to really hit it big anymore cause you need tons of money to make any money in blue chip stocks. I want to be like Curtis Jackson and find my own Vitamin Water fortune.
That being said, I'll try to answer your question. This is what I like about MDHI:
1. I believe there are certain distinct advantages to the pendant itself.
2. I believe there are certain distinct advantages to the monitoring service.
3. I believe there are certain distinct advantages to the distribution network.
4. I am pleased that MDHI has taken steps to enter the largest single country foreign market available.
I also believe that a significantly large majority of the repetitive negative posts (often just copied and pasted) about MDHI I see here and on other message boards are either provably false or conjecture at best
On top of that MDHI is not putting out PR’s about how great the company is doing; it is making sworn statements in SEC filings. When the AS and OS were increased, we were notified by letter and by SEC filing that the vote had taken place and immediately once the increase occurred. This is the type of thing the truly shady companies do not do. I am not concerned about safe harbor statements as every forward looking statement by any publicly traded company of any size uses safe harbor language to avoid potential lawsuits.
By no means do I think there is nothing to worry about with MDHI but I believe the potential of the company outweighs the concerns. I would obviously like to see MDHI get caught up with its audited financial filings. Again, I believe that once they do the PPS will increase exponentially.
In my eyes that blog had no more bearing on MDHI than many of the posts here.
I'm more surprised the blog wasn't reposted 4-5 times a day for 2 weeks as "new MDHI information" than I am to find out that it was be removed.
As I have repeatedly stated, my problem with SAFC is not the OS itself but how they have expanded the OS. Trickling 5-15 mil shares a week that get unloaded into the float immediately with no information about the expansion before or after it occurs.
They are slowly dumping without bothering to pump because the expansion is being done on a trickle.
While not mentioning the other stock by name, I specifically addressed the difference in how the OS was expanded in previous posts. Upon the vote to expand the AS and OS vor a private slae of restricted stock, an 8-k was filed with the SEC and a letter was sent out to shareholders. Again, when the increases occurred, an 8-k was filed with the SEC and a letter was sent out to shareholders.
One company has been sneaking shares into the float which almost means those shares were given to third parties and were then being sold into the open market to benefit those third parties while the other is a legitimate and transparent way to raise capital for the company. In fact, the company insiders were required by company bylaw to purchase additional shares to maintain a minimum % of the whole company. This was also addressed in the 8-k's and the letters.
I am on the sidelines with SAFC. What I have I will let ride until I am green--if that ever happens again---but the only way I would ever end up with more shares of SAFC is if they were given to me.
Agreed. I was surprised that the latest financial that were posted un-audited. When I called MDHI, I specifically asked if further delays in the release of the audited numbers would cause the company to release un-audited ones to appease the shareholders and was told in no uncertain terms the audited numbers would be posted because providing un-audited numbers at this point required repeated work.
To be fair, I was asking about 2013 after the 2012 audited numbers were completed but I think the same answer should apply.
Stating conjecture as fact is not actually stating facts but at least the line is maintained between stating conjecture and posting false information.
I would suggest that the delay in the audited financial information is responsible for the current PPS rather than any individuals posts on message boards.
In 6 months the OS more than doubled while the PPS has fallen more than 85%. There was at least one SAFC sponsored P&D during that time.
Not a good thing for investors.
When Joel Noel contacted you did he break down how much was equity investment and how much was a loan?
Well, again, it was speculation--and nothing more--that crossed my mind the other night.
As to the SEC reviewing anything, based on what I have learned on this message board, I'm not sure you have the process down. From what I read here in a ton of posts the 2012 numbers should have been posted without delay after the Aug 16 PR when MDHI announced the audit was complete. The full report didn't need to be written, the auditor's vacation could not possibly delay this (or maybe never even took place), an in house review of the numbers and the report was unnecessary and an SEC review would be out of the question.
As I understand it from the education I have received here on the MDHI I-hub message board, Ronnie is purposefully delaying the release so Joel Noel can sell off more shares before there is any chance of the PPS going up so Mr. Noel could actually profit from selling his shares.
Sarcasm ended.