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I got curious about ownership as your list does not include NXPL, Fernandez, or Barreto. So I went to the SEC filings and looked at ownership. Those three entities do own common shares.
The latest SC 13 D/A dated 5/4/23 lists info on this but there has to be an error in the amount reported for NextPlat. Per the entries and notes they own 90% of the common stock. Not likely. So I looked at applying the RS 1:200. That is also unreasonable. I'm stuck.
$RXMD
I agree with your end result but let me paint it a little differently.
You say Fernandez hasn't done anything. I disagree. He is carefully executing his grand plan whereby NXPL, he, and Baretto suck up as many shares of RXMD as they can without touching the open market. That way they get them for cheap. I expect to see another offering from RXMD for, oh, $6M or so. Once they are done buying I expect a merger and, no, it won't be hostile because they will own the vote (and the BOD). Any money they put in they get back after the merger.
Only AFTER the merger will good things happen for the business unit we now call Progressive Care.
$RXMD
I agree with everything you said, SF. My point was that we would be profitable now if not for those crooks.
$RXMD
I notice in today's financial summary of the 10Q that our net loss for the quarter was $130k. I also noticed that PBM fees for the quarter rose $400k. Guess where our profits are going? Crooks.
$RXMD
That address in Farmington Hills became available to lease on 4/13/2023. Broker is Brad Margolis
NAI Farbman (248) 351-4367
Gem Office Center
$MULN
Probably.
$MULN
You are correct. They have stated that the cash on hand will see them through the end of the year, and the production line they have transferred to Tunica has a small capacity, but they will need to build out much more to enable "any meaningful sort of production". That take a bucket full of cash.
$MULN
In my opinion it is because they still have a LOT of work to do to successfully enter the EV market and need that $100m plus more to do that. This business is VERY expensive to get into.
$MULN
Oh I expect the Engineers built a couple after they moved the line to Tunica, but that is irrelevant to your statement. The vans are clearly NOT Chinese. The parts? Who knows. ALL of the manufacturers source their components from all over the world, mostly Mexico, Korea, and China.
$MULN
You are mistaken. Re-read the latest PR which states the vehicles qualify for the full Federal credit of $7,500. Can't qualify with offshore vehicles.
$MULN
Again. Currently not possible. Shareholders have approved an RS for between 1 for 2 and 1 for 25. Until there is another shareholder vote the MAX is 1 for 25.
$MULN
I looked but could not find it.
$MULN
1000 for 1 is not possible. Shareholders have only approved 25 for 1 max. A shareholder vote is REQUIRED to change that.
$MULN
Mullen has stated that between cash on hand, what they got on 4/15, and what they will get on 5/15 is enough to carry them through 2023. The Mishawaka plant is close to production ready and has made vehicles in the past, but the capacity is limited.
Where they need the $1B to $2B is to get the Tunica plant into production. No idea where they stand on getting that ready.
$MULN
That is great but I don't see where Progressive Care fits into that picture. What do they have to offer that Amazon and Alibaba don't already have?
$RXMD
We wait. Mr. He is most likely either waiting for the toxic lender to give in and make a deal or for the SEC to prosecute them.
In the meantime the Business License in Nevada is in default for failing to file the Annual List by 2/28/23. If this is not repaired within two years someone can file a request in court to take over as Custodian.
$FTWS
You are mixing up two different deals. The UAE license is NOT the deal with the Saudis.
$MULN
They have stated they will start testing solid state battery packs in the Class 1 vans in the 4th quarter. You are right, those batteries would be great for addition to a solar system, but they simply are not ready yet.
$MULN
Was I at the meeting? No. Did I vote? Yes. You are correct that my few votes don't mean much, but you are mistaken when you say they can do a large RS tomorrow. They are required to have another meeting and another vote before that can happen. And it takes time to send out proxy materials. Have you gotten any? I haven't.
$MULN
And I expect they'll rig it again like they did last time, but it hasn't happened yet. So talk of a bigger RS is premature.
$MULN
Right now the RS can be no larger than 25 for 1. That is what shareholders approved at the last shareholder's meeting. We are incorporated in Delaware, and in that state a vote is required. If they want to do a higher ratio another meeting will have to be held.
$MULN
Understood. All three of the Amigos have this problem. I expect Mr. He is sitting on them waiting for the lender to give in or the SEC to prosecute them.
$BLUU
I agree that $RXMD won't enter the pharma market in asia, at least not China or Japan, the two biggest markets. But I agree for different reasons. Neither Walgreens or CVS, the two biggest hitters in pharma, directly sell pharma in those countries. Walgreens owns a 40% stake in a Chinese pharma retailer and CVS operates some non-pharma businesses. If the big guys can't do it, we won't.
$RXMD
Same here.
$RXMD
Just checked $FTWS with NVSOS. In default for failing to file the Annual List by 2/28/2023.
Checked $TGRR with Colorado SOS. Current and good standing.
Just checked on $BLUU. NVSOS shows them in default for failing to file the Annual List by 2/28/2023.
Makes sense. And I agree that as founder he deserves to profit from his hard work.
$RXMD
I see they paid Armen $541k to give up his series A shares. Not a bad deal for him.
$RXMD
Wayne, I spent most of my 40+ year career working for OEM automotive component suppliers. You design your company's offering to a Procurement Specification that among other things says how long it should last. Most use a complex Reliability scheme that predicts when the first 10% will fail and that is what you test your product to. This includes a safety factor. Suspension components, as an example, have a high safety factor. A dash switch doesn't.
The "Big Three" were forced into longer design life requirements by the rise of companies like Honda and Toyota.
$MULN
Current design life for the major OEMs is 180,000 miles, or about ten years. The days of 5 year design life were the '60s and earlier.
$MULN
The company has stated in writing they have enough cash and firm commitments to last 12 months. YOU stop dreaming.
I agree that Shital was a gem, but she got a severance package, which tells me she was let go. So, not her choice. Don't know why, but I think that was a big mistake by Management.
$RXMD
You are correct under the Market Value Standard. Take a look at the Income Standard. I believe they qualify.
https://listingcenter.nasdaq.com/assets/initialguide.pdf
$RXMD
Captain, you are mistaken. Min is $4.00 with several exceptions. They can uplist if they choose.
$RXMD
The current Registered Agent in CO is Custodian Ventures LLC. The CEO of that company is Mr. Lazar. No idea if he is involved (or cares).
$TGRR
You have missed something. On March 6 if the SP is below $1 (which is likely) NASDAQ will send a letter of non-compliance. Mullen will ask for a hearing (normal practice) and show a plan to gain compliance using an RS (which may not be needed). They will then get a 6 month extension to September 6. If they STILL are non-compliant then the RS will be implemented.
And it's non-compliant to NASDAQ rules rather than non-current. Two different things.
The only fly in that ointment is the Russell 2000 & 3000. They may decide to do the RS in June to remain on those indexes.
$MULN
Did you survive the coronary?.......................................or just have another beer?
$RXMD
Depends on what you have (in cash) in the house. I just sold a condo and pocketed $68k. I'm happy as a clam.
$MULN
While you are right I wouldn't mind having $15.3M in my bank account. Guess I just see the glass half full.
$MULN