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Is that your official position on your sizable position TJ? (Sizeable to me anyway.)
It most certainly does matter. He was speaking in reference to a totally different situation. You pulled an old quote and used it out of context.
Patience Diggity. A breakout is inevitable if not imminent.
What year did you pull that quote from? The current P/E is only about 1 to 1. When the stock price catches up with valuation, then maybe, but just maybe. At this rate, RNVA can grow into the share structure. First things first.
Held in reserve as MA contingency. I've seen that before.
You said it, previous history. RNVA is profitable now, and the profits are growing rapidly. Absolutely no need for an RS unless and until an uplisting is part of the scenario.
Trader, I'm wondering if you know of a company whose stock went to .0001 but swung to a sustainable profit that grew for two or three years thereafter. In other words, I'm looking for a turnaround comparable to this: https://www.globenewswire.com/en/news-release/2023/08/21/2728714/0/en/RENNOVA-HEALTH-INC-PROVIDES-UPDATE-AFTER-FILING-2023-SECOND-QUARTER-FINANCIAL-STATEMENTS.html
The federal CAH designation was the gamechanger, the hidden value that has since proven out. The current P/E ratio is only around 1 to 1, so the PPS isn't bad in spite of a 30 billion OS. As you know, I'm a value guy, don't know much about technical trading, but I'm as confident as I could be about the forward earnings growth. I'm not so concerned about what happens to the stock price soon, but what will happen inevitably.
Assuming profits grow as I expect, can you point me to a comparable that might help me gauge how to trade the position. I'm a solid hold, but I have learned enough from you to know I need to lock in profit from time to time. I may sound overly optimistic, but again, I'm really confident about the forward earnings. I just have not run across this kind of P/L turnaround at .0001 before.
Exactly. Plus, the CEO would not commission an audit if he had something to hide. The DOJ is conducting hundreds of thousands of Covid relief investigations. You can probably count on one hand the number of subjects of those investigations willing to conduct an audit and hand the audit report over to the DOJ.
Old news. Nothing will come of it. The CEO keeps good books. The subsidiary was part of the merger that formed Rennova.
“It has been discovered that certain filling requirements of the company’s operating subsidiaries were incomplete or contained errors that did not accurately reflect the expenditure of provider relief funds received,” Rennova said in its filing. “The company believes that PPP loans were accurately forgiven after the provision of information to the lending bank detailing their use within the parameters permitted.”
Rennova added it believes providing the information requested by the DOJ and the auditor’s review will show the company spent the relief funds in accordance with the rules.
The whistleblower lawsuit was filed by Clifford Barron, a former employee of wholly owned subsidiary CollabRx, Rennova stated. Barron has not been employed by the company since January 2018 and “has no knowledge of the company’s operations, financial status, or controls,” it continued.
He likes the stock and I assume holds a position in it. I started accumulating last summer when the CAH revenues started kicking in and knew big revenue growth was coming. I knew CAH added value the market was overlooking. I did not project that the company would swing to a profit in just over 12 months after Big South Fork being designated a CAH, so I am delighted that Q2 earnings showed that the earnings growth has just begun. I anticipating holding a position of some weight in RNVA long term. I don't see how a lack of short-term gain could have possibly been as catastrophic as you think to anyone who entered in the low 000s.
RNVA is a no brainer. Rapidly growing profit. Duh.
Off exchange shorting of subpenny stocks is obviously a lucrative, high percentage game few get to play. RNVA is the ideal stock for the many to squeeze some privileged short sellers. (Note: Some social media users really are paid by privileged interests to reverse pump certain stocks.)
Cleared out a lot of resistance over the last two days. I wouldn't call it "treading water."
Might need to churn through a couple of billion more, maybe less, to begin stacking the .0001 bids.
000s seriously skew the numbers. It was a tongue in cheek post, one upping the one Mo Money posted predicting .18. Me thinks pennies maybe.
Squeeze 'em.
Crypto traders maybe? Crypto is the "tulip bulb mania" of the 21st century..
Predictions of a RS are a good example, all based on past performance (old news), not on current earnings and growth trends.
Interesting that none of those lessons apply to bullish posts on this board, quite the opposite. You could very easily replace "pumpers" with "bashers."
I once thought defamatory posts came from traders who lost money on a stock and were only expressing their bitterness about it (however obsessive that seems). I have come to realize some if not most really do hold short positions and even bet on potential RSs. The bulls here are all over the current numbers and trends. The bears mostly fit those lessons about "pumpers," a short seller whose posts fit the bill are just a reverse pumpers.
LOL. Keep on fact checking them jm.
Company turnaround = stock rebound. Will be wild.
Maybe well down the road to lock in an uplisting, but the current P/E ratio is only 1 to 1 (roughly). Ought to be at least 10 to 1. The company will grow as much as it can into the existing share structure first IMO.
RNVA received $500,000 from the most recent settlement of a lawsuit. Google don't get you to that, just to some post using selective information to trash the stock, probably a post by someone with short interest.
RNVA being discovered.
You will if you're short. LOL
I don't need no stinking podcast. Current, SEC compliant earnings reports say RNVA is profitable and growing more profitable as we speak. P/E ratio less than 1 to 1 (roughly). The CAH model is a roaring success.
I have. The company is liable for any amount not used for normal business purposes. At worst, it will be a fraction of the total. We'll see what the audit finds. The "whistleblower" had an ax to grind and did not necessarily understand how unspecified the allowable use of Covid Relief Funds was. DOJ has bigger fish to fry, outright fraudulent claims many times larger by shell companies and even nonexistent companies. Plaintiffs have to prove their case. There might be a responsible party issue too. This could drag out until the plaintiffs give up. You're overrating the risk IMO.
Old news. Worst case, company settles for a relatively small amount, probably smaller than the $500,000 recently received from a judgement in a lawsuit in the company's favor.
Humble but confident.
RNVA https://www.globenewswire.com/en/news-release/2023/08/21/2728714/0/en/RENNOVA-HEALTH-INC-PROVIDES-UPDATE-AFTER-FILING-2023-SECOND-QUARTER-FINANCIAL-STATEMENTS.html
Mick, the depressed OTC market may not be able to hold this one down.
RNVA will lead.
Absolutely. RNVA is beginning to attract new investors who actually read earnings reports. RNVA should break out of the 000s based on the current EPS, pennies on the Jamestown duplication of the existing CAH model. RNVA really is a BFD.
Only 73k changed hands so far today. About 10% of the float.
Just getting started.
Good lick.
The CEO has consistently understated his forward guidance since I first started accumulating (last summer when CAH revenues began kicking in).