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Yeah, I found it best to stop watching. I check end of day but not during the day anymore, just too frustrating.
Fundamentals will win out in the end, but right now this selling pressure is ruling the stock.
The clown show has arrived.
The quiet sneaky ones are my favorite :p
The address used for the officer information is; 1232 WINDSOR HARBOR DR, JACKSONVILLE, FL, 32225, USA
A quick google search shows that it sold for $1.4M in July.
One of these pops is going to hold and we'll see much higher moves ahead. We had 2 nice pops with strong volume and then retraced. With the O/S where it is, and with a new suitor for the shell, there is really no telling where we go from here.
I remember being in IBG R, back in 2018. It popped 3 times, just to retrace all the way back down. Then once time, it didn't retrace, and continued to move from .001s to .04 range.
RVD O, same thing, 3 or 4 times nice volume spikes and then retraces all the way back down. But then one time, it actually held, and it moved through .01 and .02 and held before moving to .45. Retraced again before finally hitting a high of $2.15 or so.
CMG O, same thing. 3 times popped hard, only to be followed by big selling all the way back down to low .002s before finally holding and rallying to .03.
It's unfortunate, but that is 100% the case.
And at one point in time there was no rocker named Elvis Presley, and no one had been to space or the moon.
There is always a first.
All you need to do is search for the contract #.
I wouldn't compare Panama with San Diego, and I also don't know the company you are talking about, nor their history/business so I can't even begin compare the differences.
I'm not sure where the confusion is coming from in regards to the two CareClix entities, it's been explained here multiple times. If you do some research into the Teladoc financials you'll see they are set up very similarly.
CareClix Network is the doctors that perform the telemedicine appointments/consultations. Individuals PAY CareClix Inc, and then CareClix Inc PAYS the CareClix Network keeping a percentage to themselves.
Financials, you got me there. I'm not sure why they are so late. I'd have to assume the accountants came across some things that the old accountants did incorrectly, and had to start from scratch and now that they are already delinquent they are probably packaging up all the Qs and K to file at once.
Remember when the first financials came out and there was that whole distinction of should it be accounted for as an acquisition of assets or as a business combination under applicable accounting guidelines. That could have been an issue, which may have affected everything going forward thus would have to go back to the beginning.
Can't refute that!
How come the facts never get responses? We provide real deals, real contracts, real revenue and it gets dismissed, yet we're still told this is a bait and switch scam with no proof whatsoever.
Show me another grey sheet that continues to work after the gig is up. Scam companies don't keep fighting to get relisted. Scam companies don't continue to generate business after being sent to the greys.
I have no doubt we'll be off the grey sheets again!
The best part is, we don't even need to be doing crazy revenue. The category is extremely hot right now.
Amwell's net loss is $113M for the first 6 months of the year. They only generated $122M, that means their costs are 2x their revenue, and they are STILL valued at 20x their annualized 2020 earnings.
So you don't have any actual proof or evidence of your opinion?
EdF posts a lot of DD proving CareClix Inc is inking deals left and right, we've even verified contracts won by CareClix Inc with the city of San Diego, and now we see that New York City is promoting the use of CareClix Inc.
Now that is an example of DD or evidence proving the long's point that the company is still working and still building the business.
So please, provide something other than your already disproven opinion.
I don't think there is a shred of evidence for any of your claims, otherwise you would have provided it by now.
I understand that and I've been in plays like that where bogus PRs have been released about new deals, big growth in revenues and profits, but then the financials come out and nothing.
But how do you explain the city of San Diego awarding CareClix Inc a contract that can be found in the county's records.
See for yourself:
https://www.sandiegocounty.gov/content/sdc/purchasing/documentum-contract-search.html
Contract #563116
I don't like surprises. I could have held onto the information and we could have all wondered who the heck was selling but I think it's better that we all have an idea of who it is.
If it is who we think it is, then they don't have a cost basis and they might continue to sell without any regard to price OR, maybe the company can buy them out, or maybe they were issued illegally and can be canceled. I won't pretend to know, but we'll see if the company addresses it.
Hope isn't a trading/investment strategy lol.
You either believe or you don't. If you're skeptical you should take the opportunity to minimize your position, if you have confidence in the company/management then this is the time to load up.
The question is, what if this time is accurate? What if financials are posted and it shows solid growth or has positive earnings? What if getting off the greys opens up funding from Wall Street like so many other Telemed companies? What if a ton of things have been worked behind the scenes and we're actually much larger than anyone anticipated?
You think we'll be at .30 if that happens? I don't think so, which is why I kept buying over the past few weeks. I'm fully loaded and I will continue to buy when I can!
That's good enough for me!
I know we all got a similar canned response back in June, me including.
Then they went quiet on us and failed to deliver.
My take is, they didn't say anything to us between April and June because they weren't ready. Once they thought things were done in June they responded to everyone. Unfortunately something must have happened behind the scenes and they stopped responding again.
This response is the first since June, and we're back to "soon" so I have to assume, they really are near go time otherwise they wouldn't have responded.
Things always take longer, but when you're fooled once, you don't make that same mistake again. I've seen it, I've given people deadlines and then realize it's going to take much longer. That second attempt at the deadline is usually always closer cause you know how involved it really is now.
I'm curious as to what you think is really going on.
I posted the city of San Diego's contract to CareClix on the board and you didn't say anything about it. To me, even though it wasn't a ton of money is pretty substantial; it proves that they are generating business and they are actively pursuing business with the US Govt. The contract was signed in August, so this isn't 6 months old before the suspension.
Are you with Huggy claiming that SOLI does not own CareClix Inc? Are you saying the company isn't actually doing anything behind the scenes?
The only thing I think is different now is that we've all been trying to contact members of management for months and received nothing; now all of a sudden they want to respond? Why not keep ignoring us?
It's interesting to say the least, I like to believe it's true. The last email I had a response to was back in June where they said the same thing about soon. If it's true and the auditors screwed the pooch and the new team had to re-do all that work, then that could be why the further delay.
I have a hard time believing Flood would say soon AGAIN, just to be proven wrong AGAIN. But, we will see.
You are welcome to reach out to the company as well.
I don't know if this is the reason we saw the drop, I don't know 100% if this is where the shares are coming from. I think it is very interesting that the 2 ex-officers had the exact number that was converted to unrestricted.
I also do find it interesting that they followed their old company's shares, to this new ticker. If they were in cert form, how did they know it is now KAVL?
Regardless, if they own shares then we may just need to deal with the fact there will be downward pressure. It didn't increase the O/S which is utilized for most valuation metrics, so if we start going lower we should be buying.
This isn't a P&D, so fundamentals will win out eventually, and if you believe in the company and their growth opportunities then you'll have to try and ignore the short term.
I don't know for Steph, but I trust a few people on this board who received a response.
For those who believe, no proof is necessary. For those who don't believe, no proof is possible.
The # changed between 9/3 and 9/8.
My opinion is they haven't been completely sold yet but I'm hoping the conversion to unrestricted was done illegally and the company was able to put the halt on something.
Time will tell but fundamentally, it doesn't change a thing.
Not from anyone that actually matters.
I have seen lawsuits against T/As who have converted restricted to unrestricted without company approval. Really tough to say what's going on, but this is the price we pay for not having an R/S, so time will tell. Since O/S is used for valuation purposes, nothing has changed fundamentally, just short term selling pressure.
Tough to say.
Some of the reason is because we're on the OTC, we've also only really been around and active for about 6 months.
The company submitted their PMTA to the FDA, expanding to possibly thousands of more stores in the US over the next few months and international business.
At some point the public will catch on and things will move in our direction.
It is selfish, but at today's price that is nearly $3M. It's like someone gave you a winning lotto ticket 10+ years ago and you completely forgot about it until you cleaned out your desk.
The market can't absorb this many shares at once so I'm hoping either 1) The company can put a stop to the selling due to the legality of the T/A approving the conversion (Assumes KAVL really did have no idea) or 2) they can work out a deal buying the shares at a certain rate to avoid the drop in share price as the market slowly try's to take them in.
Elvis, I posted a few images yesterday regarding the contract award from the city of San Diego to CareClix Inc which as far as we all know is still owned by SOLI and proves that they are still active despite what's going on with the stock.
So until I see some sort of proof that shows CareClix Inc is a private company and not associated with SOLI then I'll continue to hold.
Hey all,
So I've been in contact with the T/A on a weekly basis to get updated numbers since OTC Markets isn't refreshed very often and I came across an increase in the unrestricted that happened at some point between 9/1 and 9/8.
I'm not sure if I already posted that information, but it increased exactly 5,950,000. I think we're definitely seeing some of those shares hitting the market so I've been diving deeper into it.
I reached out to the company asking who received the new unrestricted shares and they said they have only issued restricted shares and unable to sell until Summer 2021 and didn't seem to realize the unrestricted increased the way it did. They actually asked me where I was able to find that data which leads me to believe they were unaware of what was happening. Considering the O/S did NOT increase along with the restricted to unrestricted conversion I started digging into old financials from pre-KAVL.
After further investigation, the 5,950,000 shares matches perfectly to two old insiders back prior to 2011. 3,498,000 shares owned by Mr Gary Cioffi and 2,452,000 shares are owned by Mr Shawn Garrity.
From what I gather, these individuals had to reach out to the T/A to change their shares from restricted to unrestricted and the T/A needed to reach out to the company for approval. Now, it would seem odd that the company approved the conversion when just a week later they are confused about the change in unrestricted. I know there is legal ramifications for the T/A to make decisions like that, so we'll just have to see what comes of this.
I have let the company know the details of my findings, but based on the constant selling the last week or two it seems like these two are the culprits.
Also, as a reminder, the O/S did not increase. All valuations remain the same, so it's just the short term pressure that will affect the share price.
The upside potential (along with the DD that gets uncovered daily) keeps me here.
So Amwell did $122M revenue first half of the year. If we assumed that number grows 15% the 2nd half of the year, that would put them at around $262M for the year.
$5.5B/$262M = a revenue multiple of 21x. 21x Revenue for a company that nearly loses more than they generate.
Just need SOLI to get their act together. The market has a large appetite for telemed plays. Look at Amwell...
In the first half of 2019, Amwell's revenue was $69 million and that jumped 77% to $122 million in the first half of 2020. During the first half of 2020, Amwell reported net losses of $113 million, up from a loss of $42 million in the same period last year.
Yet, despite those massive losses they are priced at around $5.5Billion today.
Plus and more importantly, this is a government entity. CareClix, despite everything going on with the stock can still secure government contracts.
Difference is we have revenues and net profits. Not just some new direction/pump.
I don't think the list has been published yet.
Thank you for your help.
Can you think of any specific cases related to my scenario?
Do you think a company could block an ex-insider's attempt to convert their restricted shares to unrestricted? What kind of precedence has been set in this type of move?
I can think of a reason the ex-insider shouldn't be awarded the shares, but also I can think of a reason why they would be able to get their shares.
So would there need to be any form 3 or form 4 required from an ex-insider if the company is currently an SEC filer?