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Word up...the bad ones don't make it back...to good ones do. This isn't the typical pink .0001 scam stock. This company has been filing timely and providing a real service to real people for years. Preparing fins for $20M audits might be the line where they need to hire a CFO? If they don't already have one..?
I'm ready for some reading material.
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mj
Yeah I took another little chunk when I saw the ask breaking down to 8M the other day. Thought maybe that was the end of the reloads...lol. I had a target set either way and now I'm there. I was going to wait to see the numbers...but that sped up the process a little bit. Either way I'll be around here a while as they work through and finish cleaning up this mess however long it takes.
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mj
Less likely than the abacus deal but not impossible...Rennova being acquired and the deal needs to close prior to numbers coming out so terms aren't skewed?
A lot of possibilities with Assets, Revenues and Profits... I will take .005 thank you! lol
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mj
Maybe $20M was the limit on the abacus and they are all sold out during tax/earnings time...? ;)
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mj
Ah yea my mistake...but what I was leaning towards was this...
Our common stock is traded on the OTC Pink under the symbol “RNVA.” The last reported sales price of our common stock on January 10, 2024, was $0.0001 per share. There were 40,551,322,257 shares of our common stock outstanding as of January 8, 2024.
https://www.sec.gov/Archives/edgar/data/931059/000149315224001981/form424b3.htm
Which I thought would mean the 10k will show that O/S number being from last year. Or will the 10k just show the new O/S as of the date of the filing? I'm a bit confused on this one..lol
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mj
We know it was 40 Billion into Jan. If it did increase that would have been in 2024...we won't see that until the Q1 filing correct?
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mj
Thank you for posting that info.
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mj
No fish fry here...Everything's in the filings. Takes time to rebuild what took years to breakdown. The business seems to be now be stabilized. Hopefully we see this 10k soon. Then its whats the next move. Each piece that brings in more revs or results in greater profits cuts the time it will take to cut thru the chit and bring the price back to life. If some see the potential for down the road it could move a bit sooner..hopefully that's the cast..lol. :)
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mj
If they are profitable or close etc...then they have found a way. Maybe it won't be enough to sustain a big rally just yet? It might take a bit more patience as these revs and hopefully profits ramp over the coming Q's but revs/profits is pretty much the only sauce that works to dig out of this type of hole. In my 15 or so years I'm not sure I have ever seen a profitable .0001 stock with growth potential. That is why I am here whether I have to wait another year or not to see the reflection in stock price. Also I think as of Q4 they will begin to realize the savings on interest expense of $1.5M annually..that is huge. So we could see the beginning of that in the Q. Then we have Q1 upcoming right behind this filing whenever it gets published. That I'd imagine would show even more improvement on the revenue side as all services should be firing pretty good by now without start up costs weighing in.
Jamestown?
Acquisition one way or the other?
Seamus mentioned once or twice in a podcast about growing by acquisition.
Any chance they could get their foot back in the door at Jelico? (prob unlikely..but who knows they have a solid business plan when a lot of operators don't)
Diamantis put his money up here for some reason.
We see the progress clearly in the financials. Something is likely coming together here. Maybe its just time to hire a CFO? I forget if they have one here or not? lol.
This is a former NAZ ticker with a real building we can go kick right now that has been serving patients for years.
Anyone refreshing the edgar pg?
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mj
Hours of EDGAR Operations: The hours of operation for submitting filings to the EDGAR system are 6:00 a.m. to 10:00 p.m. Eastern Time weekdays (excluding SEC holidays). If a filing is submitted after
5:30 p.m. Eastern Time, it will not be deemed filed with the SEC until the following business day (except for filings made pursuant to Rule 462(b) and Section 16 filings, which will receive the date of the
actual filing if filed by 10:00 pm Eastern Time).
IF its a situation of way over shorting...they will only cover when forced to. RNVA just has to have the goods. Pretty much simple as that..and by the looks of things they got it. However they have to have enough of it to start killing the legacy issues one by one which again it appears they are on their way with that as well. Paying down and restructuring debt and other securities along with a strong revenue source and profits is a tough mix to fight. People in these communities need these services and RNVA is there to serve them profitability by the looks of things. That's a nice recipe for growth.
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mj
Rural-Urban Healthcare Access Gap: It’s All About The Fixed Costs
https://www.forbes.com/sites/gebai/2024/01/21/rural-urban-healthcare-access-gap-its-all-about-the-fixed-costs/?sh=e3e1cf46288f
RENNOVA HEALTH, INC. OWNED HOSPITAL RECEIVES CRITICAL ACCESS HOSPITAL CERTIFICATION
Download as PDFDecember 03, 2021
WEST PALM BEACH, Fla., Dec. 03, 2021 (GLOBE NEWSWIRE) -- Rennova Health, Inc. (OTC: RNVA) today announced that the application by its hospital, Scott County Community Hospital, Inc. (DBA Big South Fork) in Oneida, TN, for designation as a Critical Access Hospital (CAH) has been approved by Centers for Medicare and Medicaid Services (CMS). The effective date of approval is retrospective to June 30, 2021.
CAH status means the hospital will be entitled to a cost-based reimbursement from Medicare, which has the potential to increase revenue. There are a number of benefits of CAH including that capital improvement costs are included in allowable costs for determining Medicare reimbursement. This special reimbursement that CAHs receive is intended to improve their financial performance and thereby maintain access to basic health care in rural areas by providing rural health networks and rural emergency medical services.
“We are delighted to be granted Critical Access Hospital Certification for this hospital,” said Seamus Lagan, CEO of Rennova Health. “The opportunity for increased revenue and reimbursement is a welcome boost to the facility for the needed service it provides to the local community.”
About Rennova Health, Inc.
Rennova owns rural hospitals and a physician’s office in Tennessee and a physician’s office in Kentucky. For more information, please visit www.rennovahealth.com
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mj
Page · Hospital
18797 Alberta Street, Oneida, TN, United States, Tennessee
(423) 569-8521
info@bsfmedical.com
bsfmedical.com
Always open
Doesn't look like they plan on going anywhere :)
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mj
LoL lets start with .00015...We get that we might be on to something short term...Chit @.015 I will be crying and I'm in the stock..LoL
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mj
RNVA has traded roughly 1B vol in the past 21 trading days with the much greater majority being at the ask. I'd say something is a foot here. That is pretty good for a ticker with no bid. Not to mention how many have been traded in the past 6-8 months. Interesting turn around story with this one. I don't know how long it takes to burn thru everything hanging over head or at least enough to trigger the start of a price correction but I'm willing to wait it out. The K and 1st Q should provide a nice 1-2 Punch. That $1.5M savings in interest expense should have a nice affect on things :)
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mj
Theres the rest of my order from 20 min ago..lol Just hit the tape...what the hell is going on here?
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m
Seems like some kind of hocus pocus going on...I just took another 22M but only a couple of 50k orders showed up on time/sales etrade. Whats the scoop?
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mj
hm nice volume...no reload ?
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mj
Nice to see volume back on a little upswing here.
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mj
Afternoon all...is this the week we see 2023 results? Let's see what we got here.
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mj
That would be a beautiful thing. I generally try and keep things conservative. Higher expectations can lead to greater disappointment. If numbers come in over...I'll just add more shares. I am slowly approaching what I am willing to let ride here a numbers surprise would just speed up that process a bit.
Between the trading rules, the CAH cert, restructuring of debts and securities, assets, increasing revenues, and most of all profits...There are so many possibilities here of how this could play out...but whichever route they take in the end they all mean a much higher share price and valuation then what we see today.
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mj
I guess we shall see. I wonder if this will be the one that tips the scales? If they show $20M or more revs and $2M or more in Profits..I would have to imagine someone with some deeper pockets will be taking a look in to see whats going on here legacy issues or not. Time and Profits can do some amazing things to heal up a troubled past.
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mj
RNVA Will this be the release that finally lifts the anchor here? Lets set sail for .0005 and base there for a few months at least :) The fins are getting better and better...almost unbelievable for a .0001 stock really. But we do still have a little carry on baggage and the markets seem to stay focused on that. Hopefully we are nearing the final straw before a bigger investor whether retail or commercial gets involved here.
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mj
Seems like some kind of cleaning up going on with the trading as well. Some interesting low ball trades below .0001 going on today. It would be nice to know what all that meant and how close we are to hitting the end of those. I manage to grab another 1M for .00005 today.
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mj
I can see it! I think Seamus has taken this whole mess as a personal challenge. He could have taken his ball and went home when he was being called an Irish Gangster on the evening news in Tennessee..lol. Instead he hunkered down, put out a plan and followed it meticulously to where we stand today. Looking back at the fins of a few years ago things were not looking pretty. He has done an amazing job over the past 2-3 years in my opinion. I figure he has his sights set on Nasdaq to see this thing through. Hopefully we are trading pennies when the time comes for that R/S.
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mj
Seems like some different action going on here today looking at the tape. Would love to see these .0001's disappear before fins are released. If they are good let folks chase .0002's to start. Maybe the big buyer from this morning has brought friends or followers?
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mj
I don't know if this is a good sign or bad...but this time I got 500,000 at .00005 lol
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And it also appears they believe this is potentially the filing that moves this ship off the dock. Never know maybe they bring friends? That was a pretty good chunk to bite off.
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mj
Some nice volume...Maybe we clear the .0001's before fins and let others chase .0002s ? I may be in the market for a few more :)
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mj
Top of the morning to all. Let's see whats in store for today. Fins by weeks end?
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mj
I am stuck on this. This is huge in my opinion...
“The debt restructuring improves our balance sheet and will save approximately $1.5 million in interest expense annually."
I don't know if we will see any amount of this show up in the Q4 or if will start with Q1 2024. Either way its coming. And don't know what it will take to move this share price but the pieces certainly seem to be coming together. This one feels like it could be special.
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mj
Certainly something is coming for this asset.
Moving forward
We began 2024 with positive operational momentum and seek to build on recent achievements to: (i) further expand our healthcare services offerings in the communities we serve, (ii) consider options to reopen or create value from our closed hospital property, (iii) continue to improve our balance sheet and overall financial condition, and (iv) further reduce litigation and related costs.
In one of the interviews they did mention starting with behavioral health in that building before reopening. It will be be interesting to see what comes about.
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mj
No thx...lol. I'll ride with RNVA. They have the stable business with growth potential. And we supposedly get benefits IF they ever do get that thing off the ground. I am glad they got it out of RNVA...there is no guarantee that thing will ever find a place in the industry.
Speaking of INQR. Didn't we have a note for like $2.5M due from them at the end of the year?
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mj
Yeah but even if they drop off to EM. As soon as they file I believe they are right back on.
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mj
Ehhh...We are investors in a company with no bid based on what we have seen from the company in hard PR's and filings...not a whole lot of followers over here. Zero pump from the company. The performance of the company has turned. We are just waiting for the price to follow suit.
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mj
Oh and I did have to change my buy price back to .0001. It showed .00005 as the price when I opened up the box to buy but it wouldn't allow the trade to be placed there. I tried that first... it blocked me...then I changed it to .0001 to get the order placed. But I did get the 00005 fill then the .0001.
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mj
This time I did notice something different. Using etrade pro. When I clicked to buy it actually showed me .00005 as the buy price but It doesn't show how many are there. So I retyped the order for 1M to see how many it would give me at the .00005 price if any... I got 50k at .00005 The rest filled at 950k. And we are only lucky if the stock moves in our favor. LoL
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mj
check time and sales. I think i was the last trade today... you should see 50k and 950k. I believe I even messaged that I was about to try it. Back a few months ago I didn't believe it myself either..so I just kept slinging out small orders..and then I got some when others were getting filled. That is why i tried it again today when I heard they were being handed out..lol
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mj
I use Etrade. I have been doing this a long time now...This is first stock that I have ever gotten these fills on. Since I have been slowly adding..this is the 2nd or 3rd time I have gotten .00005's I don't now how or why. But I would have taken them at .0001 so I'm good with it...lol. Unless it means something that I don't know anything about and keeps us pinned here for years more..lol
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mj
Probably not...they will just continue at higher levels once we break from here. They always seem to be around. lol
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mj