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I don’t see it happening right now. No buyers stock just keeps on sinking.
No one is buying at this rate this going under .10 cents.
The 14c and company comp plan speak of dilution and stock awards. The management reserves the right to issue further shares to retain top talent. In the dilution section it say they can release additional shares after the reverse split.
Shareholders will not be compensated management will.
1-50 would destroy shareholder equity.
But management is going to be given additional shares. Per the filing. To make up for the split
I’m in the east coast and the same here, lines out the door. I hoped they would capitalize on it.
I do agree that Minnesota has been a terrible location to start a revolution in health care since the syringe. California would have been a better market.
I just don’t think Denver is the best market to move into for the second phase of expansion, why? Because the reason that two other location are delayed are because the CO’s. The city of Denver imposed a vaccine mandate!! That caused most inspectors to quit and and now there is large back log. Denver has turned into liberal mess.
If you look at the pumpers in here, they are comparing them to oak street and 1life healthcare, they compared their model to what miti wanted to do, expanding more locations with no revenue or profit. Just look at Telehealth, it is out of flavor dropping from all time highs. Being on the Nasdaq for all those stocks have not helped them, they are all collapsing.
What you said about proof of concept is correct. The first location had no patients for almost a year.
The idea was centered around luxury high rises and their tenants using their services. That never came into fruition, Millennials do not want to spend an hour speaking to a Nurse Practitioner for a comprehensive health plan. They rather go to the gym, do yoga and hit beer garden. Model was broken from the start!
Now I’m hearing they are leveraging sick care, covid testing and vaccines. It took them 2 years to figure that out and blow thru all the cash.
Finally the pumpers in here believe that the up list will save the company. 1 for 50 up list to Nasdaq!!! No revenue, no clients and growth. What do you think will happen on the Nasdaq!
Management is looking to up list to cash in, and they will be issue more shares to be whole. And the original shareholders will be diluted to hell!!!!
Miss you 3 flight. Revenue has been disappointing here.
Agree, the trading on this is sad. And market conditions could be getting worse with today’s inflation reading. We could be heading for a recession and rising rate environment we haven’t seen since the 80’s.
I don’t know if they are ready for higher lending cost and very anemic revenue. Lending could dry up quick, with federal reserve tightening.
Not a very optimal time to up list when the market are on a down turn.
Interested to see what happens when they announce the Nasdaq up list application.
Up list
1/2 to 50 to 1 reverse on the S1.
This isn’t going anywhere, and management is saying “if” they can up list to the Nasdaq.
Let’s see when they file to the Nasdaq, it’s going to be very interesting how that application is received by the senior exchange.
Right now there are no buyers. Retail isn’t liking the reverse split.
Nice to see a partnerships, I hope it yields revenue.
I guess an adjustment to the business plan of attracting affluent customer from luxury apartment buildings? It really hasn’t shown much traction.
Does anyone know if the Zack’s report was paid report? Because the Goldman one was. I think they disclosed 3k for it.
I agree what happened to the Goldman report. 2 dollars projection. Revenue projections that were growing.
Instead the first location is open for 1 year, and they only have put up 7k in revenue in a quarter.
Sick care is making tons of money thru the pandemic.
Preventative care hasn’t
No proof of concept. Only option is huge reverse split.
It’s funny how everyone ignores the dilution talk.
Shares Outstanding
Zach's Valuation PPS
Zach's Market Cap
212000000
§
0.53
$ 112,360,000.00
Current Market Cap
Current PPS
Dilution on Up list
$ 39,000,000.00
IS
0.17
$ 17,000,000.00
Market Cap w/ Dilution $ 56,000,000.00
Current Upside %
101%
Dilution to up list! 40mm dollar guess who pays for that. The shareholders
10k shares traded over 500k shares on the ask. No buyers.
With out revenue they could open 100 location and the stock would not appreciate.
If his going to help the business grow why not do it for 3% going rate the banks are offering.
That would be believing in the business!!!!
His making over 150k of the deal almost 18% return on his money. 10 year is 1.65% from the us government.
Good deal in my book!
Math doesn’t lie
Purchase price of 850k
6 months later you get 1,000,000
That is 150k profit. It almost 18% percent return.
Plus other goodies. Not a bad note. I would take that deal!
Straight from the filing
The principal amount of the Note is $1,000,000, carries a 10% interest rate per annum, payable in monthly installments, and has a maturity date that is the earlier of (i) six (6) months from the date of execution, or (ii) the date on which the Company successfully lists its shares of common stock on Nasdaq or NYSE.
Nice @ 10% interest. I want that deal.
S1 approved? What do you have for us oracle.
I hope we fire MZ!
I hope we have revenue to report 2022.
I hope the stock has more awareness, and the OTC gets out of the bear market we are in.
Happy New Years to all! 2022 because it has to better 2021.
I would love for them to let the business grow organically. This company would be a total success.
As for Marketing it has been terrible. Mz is garbage and should be fired.
But I have read all their filling and they all say risk of default. They are burning thru cash, and no revenue.
They have no other options to secure more cash unless its toxic debt, and that is why they are rushing this up list.
They will open 50 location on the back of the original shareholder.
They just hired 10 nurse practitioners, 6 locations leases, electric and heating, and total payroll. Who is paying for all these cost? With 7k in revenue in a quarter.
Only option is debt facilities and a huge reverse to get there. Survivor of the fittest.
How is that the worst case scenario, they announce two other location and the bid is @ .1582. A total 185k shares traded today that is dismal.
A reverse from these levels would destroy shareholder equity.
The belief that being in the Nasdaq would magically cure all isn’t true. Revenue is king.
Example
MINDMED went from the OTC to Nasdaq organically hit 4 dollars. They haven’t been able to deliver and now their stock is @ 1.46. Heading for delisting.
No reverse happens here! And they have Mr. Wonderful from shark tank as anchor investor.
MNMD - Mind Medicine (MindMed) Inc.
NasdaqCM - NasdaqCM Real Time Price. Currency in USD
1.4650
Now you think Mitesco with a huge reverse and no revenue will fair much better on the big boards? February 2 2022 the first location will be open for a whole year 7k in quarterly revenue reported last quarter, let that sit in.
The great opportunity is after this reverse and drops. Then you have a great buying opportunity.
Back under .20
It would be a bloody nightmare.
Volume is terrible 92k shares traded.
The agree 100%, as an investor you have to ask the tuff questions.
Do you think they have something like that lined up? Debt financing.
What time frame do you expect this to be completed? The up list?
Everything I’m posting is from:
Form PRER14C - filed by Mitesco, Inc.
I’m holding, just as I’ve done from day one.
I’m happy your not worried about the language in today’s filing. But for me they trying to jam a reverse split, to achieve 5 dollar stock price at any cost scares me.
The Nasdaq isn’t going to be better for a start up with 6 locations and no revenue.
Letting the company mature and grow organically would be in the best interest of their shareholders.
What I do with my shares is up to me as you sir.
I just went thru the whole thing.
My take always are:
200mm shares out standing but only a group with 11mm got to vote for this? Doesn’t seem like a majority of shareholders.
The outstanding shares of 500mm weren’t changed or adjusted.
The company knows the financial risk could bring down the reverse stock price such as “financials”. Or no revenue.
The comp plan 2022 will adjust shares and equity to the board and management team. After the reverse split
Dilution after the reverse is almost certain, even if they don’t complete the up list.
*No of this sounds very shareholder friendly imo.
From their own words!
Although reducing the number of outstanding shares of Common Stock through the Reverse Stock Split is intended, absent other factors, to increase the per share market price of the Common Stock, other factors, such as our financial results, market conditions and the market perception of our business, may adversely affect the market price of the Common Stock. As a result, there can be no assurance that the Reverse Stock Split, if completed, will result in the intended benefits described above, or that the market price of the Common Stock will increase (proportionately to the reduction in the number of shares of the Common Stock after the Reverse Stock Split or otherwise) following the Reverse Stock Split or that the market price of the Common Stock will not decrease in the future.
Form PRER14C - filed by Mitesco, Inc.
https://newsfilter.io/a/d86eec1f0dc354ad5cc668fdc2912e1e
FOURTH: The total number of common shares of stock which the corporation shall have authority to issue is Five hundred million (500,000,000) shares of common stock, par value $0.01 per share (the “Common Stock”) and ONE HUNDRED MILLION (100,000,000) shares of preferred stock, par value $0.01 per share (the “Preferred Stock”).
Although such issuance of additional shares with respect to future financings or other corporate matters would dilute existing stockholders, the Company believes that such transactions would increase the value of the Company to its stockholders.
2022 comp plan. Equitable adjustment because of the stock split? We don’t get any adjustments!!!!
Available Shares. An aggregate of 30,000,000 shares of the Company’s common stock may be issued under the 2022 Plan, subject to equitable adjustment in the event of future stock splits including the Reverse Stock Split, if consummated, and other capital changes.
From today filing, so they will just dilute after they split.
The Reverse Stock Split will not change the terms of the Common Stock. Additionally, the Reverse Stock Split will have no effect on the number of shares of Common Stock that the Company is authorized to issue. After the Split Effective Time, the shares of Common Stock will.
They are lining up their future shares after the reverse. Interesting how one group of shares-holder with 11mm shares got to vote? No proxy?! For the rest of us.
The Mitesco, Inc. 2021 Stock Incentive Plan (the “2021 Plan”); and
(III) The Mitesco, Inc. 2022 Stock Incentive Plan (the “2022 Plan”).
Although reducing the number of outstanding shares of Common Stock through the Reverse Stock Split is intended, absent other factors, to increase the per share market price of the Common Stock, other factors, such as our financial results, market conditions and the market perception of our business, may adversely affect the market price of the Common Stock. As a result, there can be no assurance that the Reverse Stock Split, if completed, will result in the intended benefits described above, or that the market price of the Common Stock will increase (proportionately to the reduction in the number of shares of the Common Stock after the Reverse Stock Split or otherwise) following the Reverse Stock Split or that the market price of the Common Stock will not decrease in the future.
I agree let’s see what Unfolds next.
Looking at The Good Clinic appointments and they are booked solid. This wave of covid is pushing everyone to get tested and boostered. The Good Clinic is in a good position to take advantage of this pent up demand.