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FOXO filed its latest 10-Q after market. RNVA proxy material and audited financials next. Preliminary revealed $5.2 million in earnings, or a PE of 0.83. FOXO numbers are too small to affect the RNVA earnings growth trend. RNVA should trade up to a PE of 20-25 (OTC or NYSE).
For corporation in Canada we hear.
And Dingbatt thinks the U.S. is communist.
Ah, for corporations. Interesting.
RNVA has not filed a form 15-12G to delist and obviously has not intention to do so. It's just a matter of the triennial SEC review coinciding with the FOXO MA.
I think Schwab, still get the quotes tick by tick, but I haven't entered an RNVA order lately.
No problem trading EM through most online brokers. Pink, limited information, but not CE or expert market. Won't go there as long as SEC review pending. We'll see the proxy package with financials soon. Company approval will then be followed by completion of SEC review and issuance of exchange listing registration statements.
Wall Street (broker/client) allocations to, from, and within market sectors. CAH, the MA, and the earnings position RNVA in a sweet spot within the healthcare sector. RNVA may be the only listed company with revenues driven by CAH certification (almost) exclusively.
Still pink. It's not the ticker. It's the OTC market. Insider trading transparency has kept insiders from driving and manipulating price runs. It's all up to the street and maybe some commercial investors now. All OTC stocks are presumed highly speculative at best, but at a PE of 0.83, RNVA is hardly speculative. It was speculative mid-2022. Quality investors will come across RNVA, and soon I think.
I got in when the revenues from CAH cost-based reimbursements started rolling in (mid-late 2022 long after the last RS). CAH instilled some certainty in the revenue and earnings growth. Never cared about what happened before. Earnings cure many ills. The CAH certification going into 2022 was a game changer. RNVA is a sector play.
https://www.forbes.com/sites/gebai/2024/01/21/rural-urban-healthcare-access-gap-its-all-about-the-fixed-costs/
Need buyers. We have already seen 18 months of reports showing dynamic earnings/revenue growth, debt reduction, debt restructuring, balance sheet improvements, and share structure improvements including corporate equity buybacks. We don't need reports. We need buyers/investors who can read and understand the damned reports. The current PE is only 0.83 for Christ's sake.
PE=0.83. ($5.2 million/43 billion shares=.00012, .0001/.00012=0.83)
RNVA receives controlling interest in FOXO and, therefore, retains controlling interest in Myrtle Recovery. The deal probably facilitates the completion of the corporate equity buybacks under the prospectus/insider trading plan, but we don't know that for sure yet.
Breakout from 000s on valuation or stay at 0001 on masturbation.
$10-12 million easy. SEC filing on the MA including financials coming any day. "In connection with obtaining the Stockholder Approval, the Company will file with the Securities and Exchange Commission (the “SEC”) and furnish to the Company’s stockholders a proxy or information statement and other relevant documents." (8-K)
Why is the ticker in trouble, diggity?
FOXO closing green again.
Financials included with stock exchange agreement filed with the SEC.
It's a process - an independent audit of current financials on both ends to close the transaction, SEC review of audited financials and transaction, and then exchange listing registration statements.
I can't think of a reason why RNVA shouldn't heat up and begin churning its way into a breakout. Out of the 000s on CURRENT valuation then to pennies on continued growth, no speculation required. Earnings make the world go around.
Looks like that's where Lagan is going with that situation. He has something in mind for the medical information technology piece. It's a three legged stool - Rennova (CAHs), Mytrle Recovery Centers, and FOXO/InnovaQur medical information technologies. INQR RM maybe?
No explaining what the market does sometimes. I haven't read anything about the terms, but preferred shares are typically restricted until a specified conversion date with an expiration date on the conversions. The bottom line is Lagan and the RNVA BoD control the whole kit and kaboodle (Rennova, Myrtle Recovery, and FOXO Technologies including the NYSE listing).
FOXO picked up some support today. Both FOXO and RNVA should be heating up.
It's easy to see from the trading pattern, RNVA has been meeting or exceeding the buyback schedule on what's left of the old preferred share warrants. $10 million retires them all. RNVA will easily exceed $10 million in earnings this year. This is bound to be amended and/or completed way ahead of schedule:
https://ir.rennovahealth.com/all-sec-filings/content/0001493152-24-011345/form424b3.htm
Need some buyers in this house.
Meanwhile, $20 million in buybacks of old corporate equity in progress. Do your reading.
PPS could be spent on pretty much any legitimate cost of doing business. Much adieu about nothing.
RNVA also had an independent audit of PPS done to prove their case with the feds. I don't remember if the former employee filed a private suit too, but that could be what the mediation was about.
The "whistle blower" was a disgruntled former employee with no knowledge of PPP use. The guy got mad and filed a complaint because he thought PPS would save his job, but his job was already on the chopping block before COVID. That went nowhere, dropped, no federal action. Plus, PPS had nothing to do with debt reductions paid from 2023 profits.
The point is that drastically oversold OTC market conditions forced RNVA to issue many times the number of shares it should have had to issue. The current EPS and PE have borne that out.
It HAS panned out already! RS totally of the table now. No ,more trash talk. Time to buy, buy, buy.
$5.2 million 2023 earnings/43 billion shares=EPS .00012 or a PE of 0.83. All went into debt reduction and corporate equity buybacks. Over $10 million in corporate equity buybacks this year. What more could a bargain hunter want?
Massive OTC short selling in 2022 artificially diluted this stock.