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.
Company guidance of $50-60 million in 2024 revenues. Pennyland.
And the glass slipper fits. Over $1.5 million in 2023 profit through Q3 with debt reduction over $2 million and about $5.25 million in receivables due at the end of the quarter. Then debt restructuring saving over $1.5 million in debt cost per year (matching this year's profit to date). Further restructuring of debt "and other securities" to come while continuing to double revenues YOY. Ready for the Ball, I would say.
By that logic there would be no profitable publicly traded companies. All would go private.
The end of the quarter, the end of the year, the beginning of next year, the middle of next year, the end of next year, and the beginning of the year after that. Those are my horizons. I don't give a flip about the end of the day.
Demand for Myrtle Recovery Center mental health services is extremely high. Just look at all the posts on this board from people who need it. I'm more optimism about RNVA than ever. About to get to the good part.
They aren't RNVAs shares to buy or sell. Not yet anyway. You keep raising the same questions, but the answers are right in front of your nose. It is as if you are oblivious to all that is public info. Namely this:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=173245066
You have the picture. The company has been very aggressive in applying the strong positive cash flow this year to paying down and restructuring debt. $1.5 million per year in debt cost savings yet to come. That's nothing to sneeze at. In being so aggressive, the company got out a little ahead of receivables at the end of Q3. No big deal. I agree with putting first priority on improving the balance sheet.
Now, what's the next priority? Share structure, of course. RNVA is in a position to begin buying back what's left of some preferred share series and retiring the damned things. Restructuring debt "and other securities" is on the table. (CEO) News on that to come.
More news on more revenue and earnings growth to come too. We know that. We can also expect news on Jamestown and CAH approvals there. Damned good bet anyway. Jamestown was doing $86 million in patient revenues before closing. Based on the CEOs guidance, he plans to cherry pick the $30-40 million of that that are CAH reimbursable services. We already know CAH makes the numbers work.
I'll take that agenda over the agenda of trash talkers any day.
The SEC has busted quite a few illegal short selling schemes in the last two or three years. Not enough, I'm sure.
A few big banks and investment firms run the show. That's for sure. They always have, at least as long as I've been in the market. But the FTC is the cop on that beat, not the SEC. It will take some antitrust actions to break them up.
Some large investor (retail or commercial) who is not an OTC junkie will troll the bottom for value and take up a position worth a few hundred thousand in RNVA at some point. Bound to happen IMO. Not much value left on the big boards. Might be one looking at the Health Care industry in particular. The numbers are too good not to attract a whale or two. It may well already have, and we just don't know when the trigger gets pulled.
You may be right about the crypto part, but I like seeing the SEC clean up the OTC exchanges. It will soon benefit RNVA shareholders in a big way. Yes, there are way fewer super waves, but they were almost all driven by insider trading with shareholders in the dark. RNVA has been under an insider trading plan filed the end of last year. No surprises. RNVA corporate governance is good (2 independent directors) and has built an excellent SEC reporting and compliance record. Let the SEC take out the trash:
https://www.sec.gov/news/press-release/2023-234?utm_medium=email&utm_source=govdelivery
That was before RNVA netted $14.84 million in revenues and $1.54 million in earnings (profit) this year through Q3, while reducing liabilities by $2.25 million and completing expansion to add swing bed and Myrtle Recovery Center operations (new revenue beginning in Q4) and ending the quarter with over $5 million in receivables.
And financial restructuring:
"In addition, we are in discussions about other potential modifications to debt and other securities in the hope we can secure additional amendments that further improve our overall financial position.”
https://www.globenewswire.com/news-release/2023/10/25/2766659/0/en/RENNOVA-HEALTH-INC-ANNOUNCES-SIGNIFICANT-DEBT-RESTRUCTURING.html
Now would be good.
One billion+ share volume day starts a breakout.
$14.84 million in net 2023 revenues through Q3. $1,54 million in net 2023 earnings (profit) through Q3. Liabilities reduced by $2.25 million through Q3. All while completing expansion to add swing bed and new Myrtle Recovery Center operations with that new revenue yet to come. Over $5 million in receivables at the end of Q3. RNVA doesn't belong in the 000s.
RNVA to reestablish penny stock status and uplist to OTCQB. That's my prediction and I'm sticking to it. RNVA will only need a RS when it's time to uplist to OTCQX or Nasdaq. Based on company guidance, RNVA will have enough revenues in 2025 to qualify for OTCQX or Nasdaq.
"Based on what someone posted" pretty much says it. The market (including disproportional short selling) artificially forced way more dilution than should have been necessary. There is a good side to that though. It means improving balance sheet and restructuring debt "and other securities" are a lot easier on the rebound. It appears to me the goal is to replicate the CAH model at Jamestown (at full cash flow) with the OS landing under 50 billion shares. That would leave 200 billion in reserve for MA contingencies.
RNVA had a great Q3. Carried out Myrtle Recovery Center startup AND continued to improve the balance sheet by more than $2 million per quarter at the same time. Not bad at all. The P/L shows the costs of Myrtle but not the revenues..., yet. Q3 receivables will boost Q4 revenues and/or further improve the balance sheet. Debt restructuring will reduce debt costs by over $320,000 per quarter going forward with more (gradual) improvements to the balance sheet. RNVA on track to continue doubling revenues YOY through 2024 and close out 2023 showing a profit a profit $3-4 million (at least).
RNVA is paying for an independent audit, not something you do if you have something to hide. I think the audit will show all went to legit regular business purposes and/or any instance of misspending was hidden from the RNVA CEO and BoD. Might all come down to a disgruntled employee with no direct knowledge of anything. I've never considered this much of a threat to RNVAs bottom line.
I for one am glad the SEC is cleaning up the OTC exchanges. RNVA corporate governance and SEC compliance is as good as you'll find in a pink sheet. By the way, don't sweat the Q3 P/L. The receivables indicate somewhere between $1-2 million in revenues on the plus side going into Q4 before you even start counting the revenues to actually be generated in Q4. Subtract $300,000 per quarter or so in debt costs beginning in Q4. Add Myrtle revenues where only startup costs were included in Q3 and subtract the sunk costs from that, not to mention the accompanying improvement in the cost ratios. Keep the faith GoodTimes. That was good quarterly report.
Wrong company dude. This is Rennova Health Care, Inc. (RNVA). I don't know what RennovaCare is, but it's not RNVA.
London don't play like Wall Street does. What was the infraction?
By the way, I have heard you say that about Lagan before, but you never post a link or cite your source.
But it's okay if you sleep with one.
Some big checks coming from the federal treasury too. Sunk costs drop off, cost ratios improve, debt cost reduction over $300,000 per quarter begins, interest on other debt shrinking as we go. Q4 will be awesome, just on what we know already.
Between CAH and tax refunds the amount the federal government owed RNVA at the end of Q3 was in the millions. Plus, a $2.5 million note receivable to draw on. Still reduced debt another $2 million. I knew something was off with that bottom, even with Myrtle being all cost and no revenue at that point. All I can say to folks is do the math. Do the math.
Yes sir.
CAH insures those accounts receivable get paid, most of them anyway, just the way it works. I don't know much about how those disbursements are done, but once you factor everything that affected the revenue and cost lines, it was a damned good earnings report. We're six weeks into Q4 and likely back in black already. That's what the Q3 numbers say.
I disagree. Not bad at all when you break it down. RNVA is in good shape and getting better all the time.
Too many man. Too many.
Wholy sh$t! Nobody, including me, noticed $1.79 million in accounts receivable, a $2.5 million note receivable, and $837,460 in income tax refunds receivable. In the red $548,000? So what?
Liabilities were around $52 million at their peak just a couple of quarters back. They're on it.
Is that where the OS landed? Huh, that's fewer than I thought. I'll have to dig into that.
Yep. Still doubling revenues YOY. Pause in earnings growth mostly due to Mrytle startup, no revenue from Myrtle then. Swing bed revenue not at full flow yet then either. Does NOT show debt cost reduction over $300,000 per quarter due to recent debt restructuring. Those costs should level or decrease some as revenues are realized and cost ratios improve. Maybe some CAH approval process related for Jamestown in that too. Even still, RNVA reduced its debt by another $2 million or so. In summary, some growing pains in the Q3 numbers, but that's a good thing.
Ha. Not quite ready to let you say I told you so yet. We still haven't seen one of those days when a few billion shares are traded yet. When we see some activity resembling October a year ago, it's breaking out. We have needed that all along. One decisive whale away, really.
If the CEO does his usual post-10-K PR, he will probably address all of it, except maybe the part about Jamestown CAH approval. In the past, he has not released anything on CAH approvals until they happened.
Because of everything I have posted today.
Pennies coming. I can see it clearly now. Just have to sort through the numbers.
When they go, they'll go hard and fast. Just drawing the interest of whales.