Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I agree 100%.
Even lower would be even better. They need to have “Revenue”not “profit.”
7k in revenue in a quarter is terrible? That just shows that no one is coming in, and that people are just sitting around doing nothing. (And by that I mean not taking care of patients)
The only hope is that the additional location that open in September are in better locations and have better awareness.
It been almost a year for the first location and the numbers are terrible, it hasn’t kept up to revenue forecast or targets. The Goldman report talks about peak revenue after 12-14 months and even profitability.
That location isn’t even close. (A dog)
1-2 would be great but the math doesn’t add up.
.15 would end up at .30 not enough to get on the Nasdaq.
I hope revenue picks up, covid is back and The Good Clinic is well positioned for this wave. PCR, and rapid testing
&
Moderna and JJ vaccines.
Really your excited about the 1-50 reverse?
That all shareholder equity is crashing and burning.
All the requirements for this up list is going down the drain. 20% of the board had some sense not to vote for the reverse split. I wonder who they were?
Really, stop the pumping crap! Those companies aren’t buying this right now. 4 locations no revenue and a huge reverse on the horizon.
Wait to whales start selling this is heading back .07-.10 range. Sad
The management is an all star team but with this they have done a terrible job. MZ sucks!
Revenue: Earning per share. 0
Debt: burning thru cash
Reverse 1-50 they might have to revise it, because shareholders aren’t going to hold the bag anymore.
Nasdaq isn’t going to happen. S1 clearly says they don’t have funding to support business activities.
Let’s see how shareholders react to this tomorrow.
The only hope is that 4 locations are seeing ramp up demand from this new covid surge. But with their limited hours people are probably going else where.
7k in revenue in a quarter isn’t proof of concept.
The Nasdaq isn’t going to better for Mitesco, revenue is king. Those numbers in the big boards & traders will short this to zero. Facts
Why not wait until more location are open and revenue is flowing? Why the rush.
Does 4 location open sounds like a Nasdaq company?
Reverse of 2-50 might change to 1-50 with the way this is trading.
I’m not sure if this is going to be a bought deal or best effort. But I was reading about high risk uplist/ IPO’s HF Hutton is going to ask for a lot of shares as a fee, per there cost and risk. And guess who those shares belong to? That is the price to pay to dance with the devil. Wall Street
In a bought deal, the underwriter purchases the entire IPO issue and then resells it to its clients, who may be primarily big institutional investors. The underwriter's compensation is the difference between the price the underwriter pays for the shares and the price it gets when it resells them. In this case, the underwriters bear the entire risk of selling the stock issue. They want to find buyers for the entire new issue rather than sitting on unsold shares.
In a best-effort deal, the underwriter may not purchase any of the IPO shares. It only makes a guarantee that it will make its "best efforts" to sell the issue to the investing public at the best price possible. Unlike a bought deal, there is no consequence for the underwriter if the entire issue is not sold. It is the issuing company that will be stuck with any unsold shares. Because there is less risk involved, the underwriter's gains are limited even if the issue sells well. In this case, the underwriter is compensated with a flat fee.
FYI this heading in the wrong direction.
3 flight had valid points.
1-25 wow!!!! Bring 100mm in preferred. Dilution is here. 50 location on the cost of the original shareholder. Nice holding the bags!!!
1) share of Common Stock for every two (2) to
fifty (50) shares of Common Stock (the "Reverse
Stock Split" and the "Reverse Split Amendment")
and (b) an increase in the Company's authorized
preferred stock to 100,000,000 shares, which was
previously mistakenly approved at 10,000,000
shares due to a scrivener's error (the "Preferred
Shares Amendment", together with the Reverse
Split Amendment, the "Amendment);
1-50, is a disaster. Reprint more shares open more location. Destroy shareholder equity.
Stop spinning you fairy dust. Reverse doesn’t help us!!! N n
Reverse is here!! 50-1 dilution at its finest. No revenue means they need more money!!!
https://newsfilter.io/a/f9774578aa934dac5716e5236f3657cd
at a ratio to be determined in the discretion of our Board within a range of one (1) share of Common Stock for every two (2) to fifty (50) shares of Common Stock (the “Reverse Stock Split” and the “Reverse Split Amendment”) and (b) the increase of the Company’s authorized preferred stock to 100,000,000 shares, which was previously mistakenly approved at 10,000,000 shares due to a scrivener’s error (the “Preferred Shares Amendment”, together with the Reverse Split Amendment, the “Amendment”);
Reverse is approve. They are burning the initial shareholder
I have many shares as well, I don’t think anyone wants to see 50-1 reverse split. That is the max the board has approved. I don’t also don’t see how we can up list from .15 cents and with no volume.
Buyers are staying away.
This from FINRA
More often than not, a reverse split involves a company that trades in the over-the-counter markets (OTC). Reverse stock splits are less common among seasoned companies that trade on one of the major U.S. stock exchanges. If a reverse split is announced and actually occurs (more on that below), proceed with caution.
If a reverse split is announced and actually occurs (more on that below), proceed with caution. Reverse splits tend to go hand in hand with low-priced, high-risk stocks. This is especially true with reverse splits that result in a post-split share price that is many times the price of the stock's current price.
https://www.finra.org/investors/insights/you-asked-we-answered-what-is-reverse-stock-split
A reverse split is damaging to investors because it dilutes their percentage ownership and reduces the number of shares they hold even though it increases the price of those shares.
I don’t think so. But the market cap isn’t even close with that added back in. And I doubt the share holder/ equity is there either. Maybe that is S1 delay?
200k in volume, no way this can up list to the Nasdaq at this rate.
From OTC
Share Structure
Market Cap Market Cap
33,439,317
12/14/2021
Authorized Shares
500,000,000
12/15/2021
Outstanding Shares
212,853,706
12/15/2021
Restricted
30,162,535
12/15/2021
Unrestricted
182,691,171
12/15/2021
Held at DTC
175,349,492
12/15/2021
Float
174,960,537
06/30/2021
We need an anchor investor to bring this SP back to life!!!
20k isn’t going to do it.
I don’t know what happen to the S1, the first time around it took one week.
Today more shares on the ask then the bid. Very limited buyers.
No anchor investor or institutional investors.
Reverse split is sinking this stock. At this rate this heading to .10 or even lower. No confidence here.
I don’t see how a Nasdaq application is approved at this rate?
Sell medical marijuana. The program has expanded to nurse practitioners. Easy revenue stream holistic approach!
https://www.health.state.mn.us/people/cannabis/patients/patientguide.html
I agree the incentives are good for preventive care, but we have very few locations to be hired by insurance.
Let’s see what happens.
Larry said that over 90% of the stock is own by retail. We need institutional/anchor investor to help this get up listed.
The First location is going to be almost open a whole year. February 1 2022
That is what they said the last three quarters. And still less then 10k in revenue. The problem is healthy millennials don’t go to doctors unless they are sick. (They rather go to the beer garden)
Wellness plans and preventative care is a tuff sell for these luxury apartments habitat. 4 visits per year? This approach isn’t showing much traction in the market place.
Time to adjust!
Pushing this R/S has destabilize the whole company. They better react quick. Larry, investors are running for the door. Be carefully actions have consequences!
No bottom in sight.
I agree 6 locations end of the month. At least .30 cents
How is this up listing? 50 to 1. That would be insane
This is sinking fast
https://www.thegoodclinic.com/covid-19/
They are offering it. And they have an urgent care section now. Model is adjusting
I don’t think we get that before the up-list is complete.
3 flight had some legitimate issues with the model and the market not excepting it. The good clinic in theory sounds good but 8k in quarterly revenue from a location that is almost open a year isn’t proof of concept. I would think leveraging sick care/ covid to bring patience to try the location would work?
The model of being and amenity in your complex isn’t panning out. It’s like the sauna very little people use it year round.
This management is top notch sometimes you have to adjust and change to survive.
I hope they have a plan to get this much higher. Example acquisition of some sort to bring in more buyers. It seem the retail investor is staying away because the potential of a large reverse. I hope they don’t kill the original investors with a ill-will plan.
I’m not sure how the SEC and the Nasdaq is going to approve this application when there isn’t going to be any shareholder equity? 3 location opened no revenue? Up list IPO price 5-7 dollar range?
The reverse here is going to have be big. The stock is heading lower not higher. Very disappointing from this management team
RSI is oversold we need some positive catalyst and this could run. Larry spoke about Nasdaq application in 2 weeks. Let’s see how this plays out
Yes, it was mixed bag. Hopefully we don’t get walked down .20 again before any further updates.
https://newsfilter.io/a/3abb318f7d8a3fbaca9f9f26642e167c
10Q is out.
Cash on hand and assets have increased.
Revenue still anemic, more construction is anticipated in the fourth quarter.
https://newsfilter.io/a/7c3ba1a8c635b85d1292203d9b86d82c
Mitesco can issue another 8 million in preferred stock to continue expansion efforts. This is huge!