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Just like saying something is a scam or a pump 1000 times without any facts to back it up is useless information.
Excellent post!
They are working their plan.
Where are your links?
False information that I have replied to many times before.
was16 Member Level Monday, 11/11/19 12:01:58 PM
Re: elkonig post# 32056 0
Post #
32058
of 48398
I have replied to your post before regarding this telling you that the charges were settled back in May 2019. Here it is again.
May 15, 2019 - The Securities and Exchange Commission today announced that Wilson-Davis & Co., Inc., a Utah based brokerage firm, agreed to settle charges that it failed to monitor customers' trading for suspicious activity and failed to file Suspicious Activity Reports (SARs) on numerous transactions.
Great find EdF!
It appears that Augusteen Cowan statement is about the "current" work environment. That means that CareClix is still overwhelmed with work and they are still working 18 hr. days, seven days a week.
The future is ours!
Excellent post! I fully agree with you.
It is wise to be silent until the 211 is approved and then the news can start to flow. And we know from the recent DD on this board that there is lots of news to be published.
I agree with you...their plan which we are not totally privy too is dictating their actions and will become more apparent soon.
Last week I posted a little summary of what SOLI management has done since taking over the shell to remind me of their character and the effort they have undergone to get where they are.
Another long who I am very good friends with is very critical of SOLI management and tests me all the time about their performance and their ability to run a public company ( and I will say that this long has a tone of shares).
My response to this long is that I am trying to look at the total picture and not just judge SOLI management on one or two elements of "what we see".
The critical part is that we only see inactivity or certain parts of their activity. We don't see all the activity taking place because they don't pump with PR's. We don't know their overall plan ( because they are holding it close to the vest) and only see pieces of activity (we see CareClix making deals, posting job openings, signing clients being listed as a top telemedicine platform/company, etc.) and inactivity ( not filing the 10K for 2019, not filing the 10Q for first quarter of 2020, not PRing so many deals and expansion...going into Canada, Australia, etc.).
We don't know their overarching plan at this point so I can't evaluate if management is competent, incompetent, can run a pubic company or not.
But what I have seen from the time they took over the shell, what DD gets posted on the board regarding all the CareClix deals, expansion and job posts, what I personally have learned from doing my DD, I believe they are working their plan and I am excited to see the results.
Right now I don't see any red flags, just some missing pieces that I'm continuing to try to figure out. But I will make a few predictions:
I expect SOLI to become profitable before their #1 competitor. I expect SOLI has a bigger international presence than their #1 competitor.
Soon we will all understand why the inactivity took place and have a greater understanding of managements overall plan.
You and I have been on the Maxis band wagon since the deal was announced in Dec. of 2019 and it keeps looking bigger and bigger.
Clear as day for some! LOL
Anyone who has read SOLI's last issued Q released on 11/25/19 knows they types of revenue obtained. From the Q:
REVENUE RECOGNITION
We recognize revenue from product sales or services rendered under ASC 606, which directs that revenue should be recognized when the promised goods or services are transferred to the customer. The amount of revenue recognized should equal the total consideration expected to be received in return for the goods or services. ASC 606 creates a five-step approach that should be applied when determining the amount and timing of revenue recognition.
· Step 1: Identify the contract with a customer
· Step 2: Identify the performance obligations in the contract
· Step 3: Determine the transaction price
· Step 4: Allocate the transaction price to the performance obligations in the contract
· Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation
The Company and its subsidiaries currently maintain three separate lines of revenue; revenue from sales of product by Clinical and Herbal Innovations; revenues from use of the recently acquired CareClix software by third parties (Software as a Service or SaaS); and revenues from patient consultations through the CareClix telemedicine system. The revenues from these three lines of business are recognized as follows:
Product Sales: Clinical and Herbal Innovations sells its Panoxol™ branded products through third party outlets such as Amazon and through on-line sales through TSYS. Orders are received and payment is collected through the third-party systems and product is shipped on notice to Clinical from the third-party operators. Sales proceeds are transmitted to Clinical from the third-party marketing groups after their fees and charges are collected. Revenue is recognized by Clinical on shipment of the product to the customers. The full sales price is recognized as income and the fees and charges of the third-party selling groups are charged as a cost of sales. Product sales represent revenue from the sale of products and related shipping fees where the Company is the seller of record. Product sales and shipping revenues are recorded when the products are shipped, and title passes to customers. Since all of the sales are on-line sales, collected through third parties, the Company does not invoice customers; rather, product is shipped and matched with the revenue payments received from the third parties. Total product sales for the three and nine months ended September 30,2019 was $3,861 and $11,191, respectively.
SaaS: The CareClix software system is used by certain third-party customers to service their telemedicine clients under written service agreements with CareClix, Inc. Those clients generally pay a co-pay at the time of service, in most cases by credit card, and those co-pay fees are transmitted to CareClix, Inc. through STRIPE, a card processing service, as part of the third-party service agreement. That revenue is recognized as received. On a monthly basis, the balance of the client fees is billed, and the invoice is charged to service revenue immediately. The identity of the client, the related performance obligations, the various transaction prices for different levels and frequency of use are all determined by the individual service agreements with each client, and the CareClix software maintains all of the details of the price, performance, frequency and billing under each contract. The co-pay fees are received after the completion of the service provided to the telemedicine client by the CareClix customer and the balance due for those services is billed monthly in arrears by CareClix. Total revenues from SaaS for the three and nine months ended September 30,2019 was $216,470 and $394,797, respectively.
Telemedicine Revenues: Other customers of CareClix use the CareClix telemedicine platform directly to service their clients or members and the CareClix software maintains the record of the number of consultations and other work performed for the customer’s clients, using the CareClix contracted medical doctors, and CareClix bills the customer monthly for all services provided during the month, in accordance with the written agreement between CareClix and the customer. That revenue is recognized as income at the time it is invoiced since it is for services already rendered during the month of billing. Total telemedicine for the three and nine months ended September 30,2019 was $311,506 and $568,122, respectively.
Approximately 58 percent of the Company revenues for the nine months ended September 30, 2019 were derived from three customers, in the amounts of 34, 12 and 12 percent.
Since the CareClix, Inc. telemedicine operation commenced in mid-April, 2019, the accounts receivable of the subsidiary are less than 100 days old and there do not appear to be any uncollectible accounts as of September 30, 2019. Accordingly, no allowance for bad debts has been established and will not be established until the subsidiary has more experience with its receivables collections. A detailed analysis of all accounts receivable will be undertaken at the end of the fiscal year.
WOW!
The Asian job posts could be because of the MAXIS GBN deal.
I am being patient waiting for financials, the 211 to get approved, name & symbol change, DEF 14C announcing getting rid of Clinical & Herbal innovations, Inc. complete, etc.
CareClix is growing their business. We see it everywhere. SOLI has only issued one PR since the suspension ( and that had to do with clarifying COVID-19 home testing). I believe once off the Greys, PR's will start again.
HealthLink is in Missouri, Illinois and the surrounding states per their website.
Thanks mikeo56!
It is easy to forget why you originally bought a stock so it is smart to reevaluate.
That is why I did my review and I am as confident as ever.
You and I follow the facts. They don't lie.
I am betting SOLI/Careclix has a bigger international presence than TDO*C and will be profitable before them.
We make decisions on investments and at some point we need to reassess our decisions and look at our analysis.
It was time for me to review all the facts, analysis and management actions.
My review confirms we are golden.
They say " A tiger doesn't change it's strips" or "a leopard doesn't change it's spots".
So if you believe that people don't easily change, let's review what SOLI management has done;
- Jul, 05, 2017 Charles Scott took over as CEO and Josh Flood took over as President. Scott and Flood took over control of SOLI. They had a plan...a vision.
- 9/24/2018 SOLI filed it's first 10-12G
- 11/06/2018 SOLI filed an amended 10-12G/A
- 11/26/2018 SOLI filed and amended 10-12G/A
- 12/13/2018 SOLI filed and amended 10-12G/A
They wanted to take a shell on the Greys and get it fully audited and put a company into it. Then they wanted to move that company off the Grey's.
- SOLI becomes full audited.
- 1/15/19 SOLI issues an 8K announcing their intent to acquire CareClix from KB Medical Systems.
- 3/15/19 SOLI issues a Form D to raise money to purchase CareClix.
- 4/15/19 SOLI issues an 8K announcing the formation of CareClix, Inc., a Virginia Corp. and the closing of the acquisition of CareClix.
- 7/1/19 SOLI files suite against Griffen Trading Company, declaring that 12,606,500 shares were improperly and illegally issued.
- SOLI wins law suite and cancels 12,606,500 shares.
- July 2019 SOLI get's Glendale Securities to fill a form 211 to get SOLI off the Greys.
- 11/4/19 SOLI Uplits to OTC Markets and get's off the Grey markets.
- From 12/3/2019 to 3/4/2020 SOLI announces business deals with MAXIS GBN, Trapollo, Expansion into Chile, etc.
- On 12/5/19 CareClix announces SOC2 Type 1 Audit Certification
- On 1/15/20 SOLI announces an impressive list of New Board Appointees.
SOLI management started it's plan on 7/2017 to build a mega telemedicine company and has accomplished each task along the way. This Spring the SEC incorrectly suspended SOLI and management has had to jump thru hoops to get a new form 211 submitted/worked on.
Meanwhile, Covid-19 has hit and SOLI/CareClix business has been on fire.
Management hasn't spent the past 2 1/2 years working their plan to give up or get side tracked. Yes, they haven't PR'd anything since the suspension ( except a clarifying statement regarding COVID-19).
I am sure management is working their plan, we will get off the Greys, PR's will startup again, we will see financials with exponential revenue growth.
I know what I own and will not be deterred because of some delays.
Excellent find daiello!!
CareClix is growing and growing!
So you know nothing about their business and you are just making assumptions! Assumptions aren't facts!
Expansion into Canada, expansion into Australia, a deal with Triadi, Concierge Health Center using CareClix, America's RV Warranty promoting CareClix as their telemedicine choice, just to mention a few CareClix items in recent weeks.
This duck is making deals and revenue.
So you have facts/proof that they aren't "overwhelmed" with growing revenue?
And I do believe that they are being conservative with the 20 million users!!
Excellent post rstar!
I do believe that business has increased greater than 10 fold from last Fall. (we keep seeing CareClix teaming up with company after company and they keep posting job openings...the last group of job posting was for positions in Canada).
Nice find EdF!
CareClix is in so many places. I'm sure there are lot's of companies using CareClix that we don't even know of yet.
Excellent clarification PamelaR!
I also have no doubt that CareClix has a larger international presence than TDO*C.
Good find Freedom Train.
Thanks for posting it.
They filed the "PRE 14C". I expect we will see a "DEF 14C" next.
Since Scott owns 59.66% of the outstanding shares they didn't need to send anything out for approval. Here is the quote form the filing:
SOLI share structure updated on OTC Markets.
OS, AS, Restricted and Unrestricted all remain unchanged since 4/21/20
https://www.otcmarkets.com/stock/SOLI/security
Nice list Fishing at Surfside!
It has been stickied.
Maxis GBN looks like it is in 105 countries according to their website.
But some countries appear to only offer Life or Accident insurance, not Health insurance.
Health insurance appears to be offered in lots of the 105 countries.
Keep them coming Mr. DD!
Another nice find.
CareClix is everywhere.
Thanks EdF!
I agree. That is what I said in response.
An article came out today (see below) that mentions Anthem Health, one of Carelclix's strategic partners/customers.
June 19, 2020 09:27 AM ET (BZ Newswire) -- Markets
The global pandemic exposed many gaps in the current healthcare system, to say the least. A result of these newly revealed shortcomings, telemedicine has become a big part of the solution. By digitalizing healthcare services as much as possible, we can reduce strain on the system, lower costs and increase access for patients with mobility issues.
There aren't many pure names when it comes to pure telehealth stocks, though a variety of companies are entering the arena. Additionally, a variety of healthcare and technology stocks could benefit from the increased availability of healthcare services.
Teladoc Health
Even before COVID-19 pushed Teladoc Health, Inc. (NYSE:TDOC) into the spotlight, the service had shown it ability to grow its platform capacity, serving 100 million members by 2020. Since the start of the year, share price has grown 130%, which has fostered a 20x price-to-sales ratio, which is fairly lofty for an early-stage growth company that still hasn't reached profitability.
Zoom
Zoom Video Communications (NASDAQ:ZM) is among those stocks that saw skyrocketing demand as a result of the pandemic. While most associate the now ubiquitous service with company meetings, Zoom has worked to develop its own video healthcare solution has the built-in patient privacy protections, remote waiting rooms, digital stethoscopes, among other features that have garnered it partnerships with medical institutions such as the Moffitt Cancer Center.
Humana
It's impossible to even mention the word helathcare without reckoning with insurers. Humana, Inc. (NYSE:HUM) has been among the very first adopters of virtual doctor visits even before the pandemics. And when COVID-19 swept through the globe, it provided more than 150 digitalized health services.
Anthem
Anthem, Inc. (NYSE:ANTM) entered the telehealth field back in 2016 and now provides more than 200 digital kiosks that allow patients access to community resources, telehealth services, video conferences and insurance benefits information, it provides time help in dozens of languages to everyone in need.
Yes SOLI should have the same share structure....the only caveat would be if something changes with the shares Josh Flood has (not sure if he has an employment contract and there are stipulations in it about leaving and his shares)
I would say SOLI is not a "shell". It has a sub, CareClix which generates revenue.
SOLI is going from two subs ( CHII and CareClix ) to one sub.
Not sure I would call 800 shares @ $.3055 ($244 worth of stock) a dump.
The filing yesterday said it doesn't take effect for 20 days. So I assume Flood is still active with business activities.
Since the suspension in April they really shut down the PR's. We know that there have been deals inked since then and we have probably have only seen a small % of what they have inked.