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I don't buy any of that FDA mandate crap on nicotine levels. That is so far fetched at this point, that it's not even worth discussion.
I guess jaded is the objective view for XXII right now and for good reason - cash flow, dilution, and distribution issues. I keep it real. But these are normal problems with companies entering commercialization and FDA phases. Let's see if they can turn it around. I thought Nap's interview helped to clarify a few things on Magic. Don't discount the entire thing because you don't like how he worded his opinion.
Ok then don't pay attention to it. Was just sharing because I got a notification. I'll stop posting links and just cheer the stock price when it goes "to the moon".
Company Releases 2015 Annual Report Letter to Shareholders
4/14/16, 10:22 AM
CLARENCE, N.Y.--(BUSINESS WIRE)-- 22nd Century Group, Inc. (NYSE MKT: XXII), a plant biotechnology company that is a leader in tobacco harm reduction, released today the following letter that was included the Company's 2015 Annual Report to Shareholders:
Dear Fellow Shareholders:
The year 2015 was a transformative year for our Company and the year 2016 will be a time of even greater opportunity for 22nd Century.
In 2015, our Company expanded our already dominant intellectual property portfolio and attracted the interest and attention of public health officials around the world. We submitted a Modified Risk Tobacco Product ("MRTP") application to the U.S. Food and Drug Administration ("FDA") for our BRAND A Very Low Nicotine cigarettes that contain approximately 95% less nicotine than conventional cigarette brands. The New England Journal of Medicine published two articles (N Engl J Med 2015; 373:1340-1349 and N Engl J Med 2015; 373:1289-1291) about the results of a landmark clinical trial utilizing 22nd Century's proprietary SPECTRUM(R) research cigarettes. Funded by the FDA and the National Institute on Drug Abuse ("NIDA"), a division of the National Institutes of Health ("NIH"), the study found that smokers of our SPECTRUM(R) Very Low Nicotine cigarettes consumed far fewer cigarettes per day and doubled their quit attempts versus smokers of cigarettes with conventional nicotine content.
Simultaneous to these important milestones, 22nd Century began to actively commercialize our significant intellectual property portfolio. Our revenues increased from less than $530,000 in 2014 to more than $8.5 million in 2015. Indeed, our revenues in 2015 exceeded prior financial projections and were the highest in our Company's history.
That said, we are not yet profitable and we did not expand the sales of our commercial products as quickly or as broadly as we would have liked. We are disappointed that logistical issues prevented us from rolling out MAGIC Very Low Nicotine cigarettes in Europe beyond Spain. Nevertheless, all things considered, these are merely "bumps in the road" and 22nd Century closed 2015 with a very strong foundation for continued success and growth.
As discussed in earnings calls over the last year, 22nd Century's enormous potential - in the near term and the long term - rests with our technology that gives us the potential to disrupt at least two major industries. With ownership or exclusive control of more than 200 issued patents and more than 50 pending patent applications around the world, 22nd Century has a virtual monopoly on the genes in the tobacco plant responsible for nicotine production.
Ours is the only company in the world capable of growing tobacco with 95% less nicotine than conventional plants... and, at the other end of the spectrum, no other company can grow cigarette tobacco with nicotine content as high as our proprietary plants. These technologies - and the incredibly important independent clinical trials being conducted with cigarettes made from our proprietary tobaccos - are what make 22nd Century extraordinary. And these are the things management intends to build on, in the near term, to increase shareholder value.
To date, there have been numerous independent, scientific clinical studies (Phase II and Phase III) using 22nd Century's proprietary Very Low Nicotine cigarettes. New clinical trials using 22nd Century's SPECTRUM(R) research cigarettes are already underway. Most notably, a Phase III study featuring 1,250 participants compares two different approaches to help smokers lose their addiction to nicotine: (A) an immediate reduction in nicotine content in cigarettes to non-addictive levels by using 22nd Century's proprietary Very Low Nicotine tobacco in such cigarettes, or (B) a gradual reduction in nicotine content in cigarettes to non-addictive levels by using 22nd Century's SPECTRUM(R) research cigarettes. No matter which protocol ultimately prevails, each utilizes 22nd Century's proprietary products, so 22nd Century will be the "winner" either way.
Based on the results of these and other independent clinical trials, we believe 22nd Century will be the first company in the world to achieve a Modified Risk Tobacco Product designation for a combustible cigarette.
Our Company also believes that our X-22 smoking cessation product in development may in fact prove to be the world's most effective smoking cessation aid. Importantly, unlike Pfizer's market-leading drug Chantix(R), X-22 seems to pose no new side effects to smokers. What's more, smokers we have surveyed overwhelmingly prefer the idea of quitting with a combustible cigarette rather than using a pill, nicotine patch, lozenge or gum. To this end, our Company has continued to identify and meet with potential strategic partners in our efforts to establish a non-dilutive joint venture to fund Phase III clinical trials for X-22. Announcement of such a joint venture, as one might imagine, would be a transformative event for 22nd Century. We will continue our efforts on this important initiative in 2016.
While the harm reduction theory behind a Very Low Nicotine cigarette that provides nicotine to smokers at "non-addictive" levels is easy to understand, the development of a high nicotine cigarette may seem counter-intuitive. However, we believe that both approaches serve to reduce the harm caused by smoking, though for very different reasons.
It has been hypothesized for many years that a high nicotine tobacco - when combined with a low tar yield cigarette design - will result in smokers inhaling far less smoke and far less "tar". Of course, smoke and "tar" are the primary disease-causing agents of cigarettes. In the landmark publication, Virtually Safe Cigarettes, 2000, noted epidemiologist Dr. Gio Batta Gori lays the groundwork for our strategies succinctly, as follows:
With the exception of extremely low nicotine yield cigarettes, "smokers in general manage to utilize an average of about 1 mg of nicotine from cigarettes of any brand, regardless of...smoking machine yields."
This statement addresses the phenomenon now commonly referred to as "smoker compensation." Especially for cigarettes with slightly lower nicotine contents, like in cigarettes formerly referred to as "light," smokers compensate by taking more puffs, inhaling more deeply, covering the dilution air holes on the filter, and/or simply smoking more cigarettes in order to consume their desired nicotine of approximately 1 mg per cigarette. What this means is smokers find a way to achieve about 1 mg of nicotine no matter the type of cigarette they smoke, unless the nicotine of a cigarette is so low as to make smoker compensation impossible (which is true with 22nd Century's Very Low Nicotine SPECTRUM(R), MAGIC, BRAND A, and X-22 cigarettes).
In 2003 at the TabExpo Congress in Barcelona, Spain, Dr. Gori reached the natural conclusion of his theory when he explained:
"...the higher the smoke concentration of nicotine, the sooner inhalation is inhibited, the lower the dose of whole smoke to the lungs, and the lower the risk to be expected."
In other words, as smokers make the adjustment to a higher nicotine cigarette, they naturally consume less "tar" and less smoke - primarily because the nicotine their bodies crave is more readily and more efficiently available when smoking a high nicotine tobacco cigarette. And with less smoke consumption, the risks for heart disease, lung disease and cancer also lessen.
Accordingly, we believe that 22nd Century's BRAND B higher nicotine cigarettes may in fact qualify for Modified Risk Tobacco Product status with the FDA. Based on the work of Dr. Gori and others, we have developed BRAND B cigarettes with relatively high nicotine content in combination with moderate tar content. Thus, when comparing BRAND B to conventional cigarettes, BRAND B has a tar-to-nicotine ratio that is more than 60% lower than that found in conventional cigarette brands.
So, for smokers who wish to reduce their exposure to nicotine and/or to quit smoking altogether, 22nd Century has developed naturally growing tobacco with the world's lowest nicotine content. At the same time, for the more than 20 million American smokers who accept the risks associated with smoking, do not wish to quit, and are not concerned with decreasing their exposure to nicotine, our Company has created BRAND B not to give smokers more nicotine - but to deliver nicotine more efficiently than conventional cigarettes with a reduced exposure to the smoke and "tar." It is our belief that 22nd Century's BRAND B cigarettes reduce smokers' exposure to "tar" and smoke by more than 60% as compared to conventional cigarettes. We believe this product has truly enormous market potential.
We expect BRAND B will be of great interest to pragmatic public health officials. At the recent March 2016 Annual Meeting of the Society for Research on Nicotine and Tobacco, the FDA presented a summary of the initial results of its own recently completed clinical study on dual users of both cigarettes and filtered cigars in which the FDA found that such smokers inhaled less smoke when they smoked filtered cigars than when they smoked conventional cigarettes. This result supports the theory held by our Company that a higher nicotine product, like a filtered cigar or a filtered cigarette with high nicotine tobacco, will result in the intake of less smoke and less "tar" by the user. For these reasons, in 2016 we plan to meet with the FDA to discuss conducting "proof of concept" exposure studies for BRAND B extremely low tar-to-nicotine ratio cigarettes. If the results of these exposure studies allow, and provided sufficient funds are available, we will begin work on a Modified Risk Tobacco Product application for BRAND B cigarettes in order to request from the FDA the right to disclose to consumers that BRAND B exposes smokers to substantially less "tar" and substantially less smoke than the current market leading brands of cigarettes in the United States.
In 2016, we will also continue our scientific research and development activities relating to the cannabis plant. We currently conduct all of our research and development on the cannabis plant in fully licensed laboratories in Vancouver, Canada. In the cannabis plant, the Company's unique intellectual property allows 22nd Century to regulate the "active ingredients" in the plant, which are known as cannabinoids. With this technology we intend to develop cannabis plants with low levels of THC for the commercial hemp market and plants with high levels of CBD for the legal medical marijuana markets. These initiatives could provide significant future revenues for our Company.
In summary, 22nd Century remains uniquely positioned as a plant biotechnology company with the important primary mission of reducing the harm caused by smoking; we are also very excited about our opportunities to develop important medical marijuana plants. We have made huge strides over the last 12 months on many scientific initiatives and we are proud of what we have accomplished. While we are not yet profitable, we are certainly putting "points on the board" both in terms of the substantial increases in revenues and in terms of our strategic accomplishments.
We also continue to see great progress with a greater number of independent clinical trials utilizing our proprietary products. As we continue to make our own MRTP application submissions to the FDA, we believe 22nd Century's technology will be widely recognized as a true paradigm shift for at least two industries. We believe that ultimately capturing a share of the growing smoking cessation market and/or a mere fraction of a percent of the U.S. cigarette market with one or more of our Modified Risk Tobacco Products in development will transform our Company into a true industry leader.
On behalf of the 22nd Century Group management team and our Board of Directors, we thank you for being part of our family of shareholders. We look forward to meeting many of you at our annual shareholder meeting in April and we look forward to sharing exciting Company developments with everyone in the weeks and months to come.
Best regards,
Henry Sicignano III
Chief Executive Officer, President & Director
About 22nd Century Group, Inc.
22nd Century is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants and the level of cannabinoids in cannabis plants through genetic engineering and plant breeding. The Company's primary mission is to reduce the harm caused by smoking. 22nd Century currently owns or exclusively controls more than 200 issued patents and more than 50 pending patent applications around the world. The Company's strong IP position led to a licensing agreement with British American Tobacco ("BAT"), the world's second largest tobacco company. Visit www.xxiicentury.com, www.magiccigarettes.com and www.redsuncigarettes.com for more information.
Are you seriously sweating a penny move on a 15-minute chart? You've been here a while, so I understand your negativity, but you had no problem buying this stock at $2, 3, etc when it had no revs and no commercialization plan and all hype.
XXII CEO Interview: Jason Napodano of Bionap
http://www.bionapcfa.com/2016/04/interview-with-22nd-century-ceo.html
Yep, this one's ready to run hard. 10-day high volume of 5.6M shares traded with this SS is big and I expect follow-thru tomorrow.
DUST dollar up, gold futures down, playing that deadcat bounce I mentioned a couple days ago. Gold is still in a long term uptrend so this is a quick play but I am holding and maybe getting out even tomorrow.
My guess is not enough working capital to fund the clinical trials.
With this daily volume and the float, the big seller will be gone soon. I see a multi-bagger based on financials and SS.
ALQA bottom bounce on volume
Great buying at the close.
Great post. Thanks for the information. Good luck trading!
Boy these guys are GREAT at issuing shares. That's all they've done for years. Looking for .60 here
Nice day today. Let's flip that SAR at .83 and turn the chart positive for a run. Been adding the .70s hard and hope I never see them again.
DUST ($2.07): DHOT60 (down hard on the 60EMA. Miners have ruled the roost, but maybe time for a deadcat here. Watching GDM closely in the morning.
Yeah, let's see if all of these new key hires and beautiful compensation increases translate into shareholder equity.
It's cool man. I was just laughing b/c people on this board hang onto your every word and base stock purchases on that information.
Anandia: surprised this didn't get more attention
https://news.liftcannabis.ca/2016/02/19/cultivation-dealers-license-mmpr-29/
Red Sun and low tar...can be attributed to the perforations in the filter, but like past perforated "light" cigarette filters there is no need to plug holes for Red Sun to pack a punch. The draw is clean, tastes natural, and strong. A user even mentioned his lungs felt better after switching to Red Sun because he felt he was taking in less tar. Probably a combination of less cigarettes/day and the filter. I think there's a market for it, but the wholesalers, retailers, ambassadors, and customers must educate. I'd walk right by the highest nicotine cigarette on the shelf even if I were looking for it and not already aware.
His review of Red Sun was spot on, IMO. Great descriptors of the filter, packing, smell, drag, buzz. I like that he showed how little tar was centered in the filter.
I bought a couple packs last week and have been smoking them with my usual cigarettes. Strong but with a light hit. Would take some getting used to as a permanent option, but you definitely smoke less of them and you definitely take in less tar.
As we both know, Red is B. B is the homerun if they can get marketing acceptance for less tar ratio. And Andre the Giant might come back to life :)
Australia has super-strict packaging rules: no nicotine/amts or similar data, no claims, no branding except the cigarette name, plain packaging, and graphic warning messages covering almost the entire pack:
https://upload.wikimedia.org/wikipedia/en/f/f3/Australian_cigarette_pack_with_health_warning_December_2012.jpg
here's the wiki on Australian cigarette packs
The government is very interested in stomping out smoking through heavy legislation:
Check out what the Australian Dept of Health thinks
Here's what XXII said in the Aussie PR:
“Fundamentally, we are excited about the opportunity to offer adult Australian smokers the choice of nicotine content in their cigarettes.”
Seems like a lot of education necessary for consumers to realize they have a choice. How will consumers know the harm reduction benefits Red and Magic may possess, if all packs look basically the same?
Could be a tough sell Down Under...IMO...the harm reduction benefits for Red and Magic have merit, but they are unable to differentiate from the crowd.
XXII and MJ...here's the latest update from the 10-k...
We entered into a new cannabis research collaboration with strategic partner Anandia. As a part of this research collaboration, Anandia will develop and grow proprietary cannabis strains under its licenses in Canada that express highly desirable characteristics and that we expect will lead to exciting commercialization opportunities. We announced last year that we had entered into a worldwide license agreement with Anandia that granted exclusive rights to us in the United States to four genes required for cannabinoid production in the cannabis plant. The license also granted us co-exclusive rights with Anandia to this proprietary technology in all countries outside of the U.S. and Canada. Anandia retained exclusive rights in Canada. The proprietary technology licensed from Anandia allows for the development of cannabis strains that demonstrate either an increase or decrease in the production and content of all, or certain subsets of, cannabinoids. The long-term goals of our research activities relating to cannabis are to develop, protect and commercially produce unique cannabis plant varieties that include high levels of non-THC cannabinoids, such as CBD, for the legal medical marijuana markets, as well as virtually cannabinoid-free cannabis for the commercial hemp industry.
Biggest advantage I can see from a declassification of marijuana in the US is the ability to carry out research for medical uses there. Legislation for medical pot has been the thing limiting any potential licensing agreements for low/no THC and high CBD modified cannabis to Canada.
IBB/XBI: that was me. Thanks for the input. Looks like we are seeing money flow back into biotech. Looking at the support levels you mentioned and planning accordingly. TY
What are your thoughts on today's move for the IBB and the XBI chart-wise? Do you see a sustained move up here for biotechs? TIA
And the sale actually closed Q1, so we should see that impact on #s with the 10-q. Still waiting on the 10-k, which is due in 10 days.
Where did you get 48m shares? There's roughly 23m O/S not counting warrants
No doubt it will hit $1.50 if progress on any of the things they talked about on CC for the 1H of 2016 come to fruition and they can stave off dilution until then.
Could be a slow grind. Someone on the board surmised that perhaps the buyer of the last offering may still be unloading shares - who knows. XXII seems to be banking heavily on the FDA, but it would be nice to see some "surprise" news like a partner deal for X-22, a licensing deal for tobacco seeds or cannabis, or at least an update on Magic launch debacle or a distribution deal on the contract manufacturing side so this plant isn't sitting under capacity burning cash.
XXII must think they're doing a great job - they gave themselves wonderful raises.
In regards to the SS, wouldn't take much for a group to get behind it again
What's up with a director filing a Form 4 for 45 shares?
FCHS (.88) closed at the 10-day on this news:
First Choice Healthcare Completes $15.45 Million Sale and Leaseback of Marina Towers
4/1/16, 8:30 AM
MELBOURNE, FL -- (Marketwired) -- 04/01/16 -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS," "First Choice" or "the Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today announced that yesterday, March 31, 2016, its wholly-owned subsidiary, Marina Towers, LLC, completed the sale and leaseback of Marina Towers, a 78,000 square foot office building located in Melbourne, Florida, to Global Medical REIT Inc. for $15.45 million, netting approximately $8 million.
This non-dilutive capital will allow First Choice to continue executing its defined business plan, providing for the replication of its Melbourne-based system of Medical Centers of Excellence in other targeted geographic markets. In addition, other net benefits to the Company and its shareholders include:
50%+ reduction in Company's total debt;
Delivery of strong, positive working capital and enhanced total shareholders' equity;
Strong cash position to allow rapid implementation of the Company's growth and acquisition strategies;
Ability to recruit additional world class physicians and care specialists to the team; and
Expansion of the Company's leadership team with key executive appointments to mission critical posts.
Commenting on the sale and leaseback, Christian Romandetti, Chairman, President and CEO of First Choice, said, "The completion of this transaction marks yet another major milestone for First Choice -- and one that will surely prove to be a transformative event for our Company as we proceed with executing our expansion plans, designed to create, capture and enhance shareholder value. To be sure, we are implementing a business model that emphasizes controlled, smart growth; and one that we strongly believe best positions us to fully capitalize on the evolving dynamics changing how quality healthcare is being delivered in our country."
For additional details relating to the sale and leaseback of Marina Towers, please refer to the Form 8-K to be filed with the U.S. Securities and Exchange Commission (SEC) later today and found at www.sec.gov.
In other news, First Choice reported that due to the time and resources necessary to complete the building sale, it filed a fifteen (15) day extension to file its Annual Report on Form 10-K for the year ended December 31, 2015 (the "2015 10-K").
About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at building a network of localized, integrated healthcare systems comprised of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Neurology, Interventional Pain Management and related diagnostic and ancillary services in key expansion markets throughout the Southeastern U.S. Serving Florida's Space Coast, the Company's flagship regional network currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
At Wolfe Axelrod Weinberger Associates
Donald C. Weinberger | don@wolfeaxelrod.com
Stephen D. Axelrod, CFA | steve@wolfeaxelrod.com
At Institutional Marketing Services
John Nesbett | jnesbett@institutionalMS.com
Jennifer Belodeau | jbelodeau@institutonalMS.com
At First Choice Healthcare Solutions, Inc.
321-802-5830
IR@myfchs.com
Source: First Choice Healthcare Solutions, Inc.
First Choice Healthcare Completes $15.45 Million Sale and Leaseback of Marina Towers
4/1/16, 8:30 AM
MELBOURNE, FL -- (Marketwired) -- 04/01/16 -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS," "First Choice" or "the Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today announced that yesterday, March 31, 2016, its wholly-owned subsidiary, Marina Towers, LLC, completed the sale and leaseback of Marina Towers, a 78,000 square foot office building located in Melbourne, Florida, to Global Medical REIT Inc. for $15.45 million, netting approximately $8 million.
This non-dilutive capital will allow First Choice to continue executing its defined business plan, providing for the replication of its Melbourne-based system of Medical Centers of Excellence in other targeted geographic markets. In addition, other net benefits to the Company and its shareholders include:
50%+ reduction in Company's total debt;
Delivery of strong, positive working capital and enhanced total shareholders' equity;
Strong cash position to allow rapid implementation of the Company's growth and acquisition strategies;
Ability to recruit additional world class physicians and care specialists to the team; and
Expansion of the Company's leadership team with key executive appointments to mission critical posts.
Commenting on the sale and leaseback, Christian Romandetti, Chairman, President and CEO of First Choice, said, "The completion of this transaction marks yet another major milestone for First Choice -- and one that will surely prove to be a transformative event for our Company as we proceed with executing our expansion plans, designed to create, capture and enhance shareholder value. To be sure, we are implementing a business model that emphasizes controlled, smart growth; and one that we strongly believe best positions us to fully capitalize on the evolving dynamics changing how quality healthcare is being delivered in our country."
For additional details relating to the sale and leaseback of Marina Towers, please refer to the Form 8-K to be filed with the U.S. Securities and Exchange Commission (SEC) later today and found at www.sec.gov.
In other news, First Choice reported that due to the time and resources necessary to complete the building sale, it filed a fifteen (15) day extension to file its Annual Report on Form 10-K for the year ended December 31, 2015 (the "2015 10-K").
About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at building a network of localized, integrated healthcare systems comprised of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Neurology, Interventional Pain Management and related diagnostic and ancillary services in key expansion markets throughout the Southeastern U.S. Serving Florida's Space Coast, the Company's flagship regional network currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
At Wolfe Axelrod Weinberger Associates
Donald C. Weinberger | don@wolfeaxelrod.com
Stephen D. Axelrod, CFA | steve@wolfeaxelrod.com
At Institutional Marketing Services
John Nesbett | jnesbett@institutionalMS.com
Jennifer Belodeau | jbelodeau@institutonalMS.com
At First Choice Healthcare Solutions, Inc.
321-802-5830
IR@myfchs.com
Source: First Choice Healthcare Solutions, Inc.
First Choice Healthcare Completes $15.45 Million Sale and Leaseback of Marina Towers
4/1/16, 8:30 AM
MELBOURNE, FL -- (Marketwired) -- 04/01/16 -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS," "First Choice" or "the Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today announced that yesterday, March 31, 2016, its wholly-owned subsidiary, Marina Towers, LLC, completed the sale and leaseback of Marina Towers, a 78,000 square foot office building located in Melbourne, Florida, to Global Medical REIT Inc. for $15.45 million, netting approximately $8 million.
This non-dilutive capital will allow First Choice to continue executing its defined business plan, providing for the replication of its Melbourne-based system of Medical Centers of Excellence in other targeted geographic markets. In addition, other net benefits to the Company and its shareholders include:
50%+ reduction in Company's total debt;
Delivery of strong, positive working capital and enhanced total shareholders' equity;
Strong cash position to allow rapid implementation of the Company's growth and acquisition strategies;
Ability to recruit additional world class physicians and care specialists to the team; and
Expansion of the Company's leadership team with key executive appointments to mission critical posts.
Commenting on the sale and leaseback, Christian Romandetti, Chairman, President and CEO of First Choice, said, "The completion of this transaction marks yet another major milestone for First Choice -- and one that will surely prove to be a transformative event for our Company as we proceed with executing our expansion plans, designed to create, capture and enhance shareholder value. To be sure, we are implementing a business model that emphasizes controlled, smart growth; and one that we strongly believe best positions us to fully capitalize on the evolving dynamics changing how quality healthcare is being delivered in our country."
For additional details relating to the sale and leaseback of Marina Towers, please refer to the Form 8-K to be filed with the U.S. Securities and Exchange Commission (SEC) later today and found at www.sec.gov.
In other news, First Choice reported that due to the time and resources necessary to complete the building sale, it filed a fifteen (15) day extension to file its Annual Report on Form 10-K for the year ended December 31, 2015 (the "2015 10-K").
About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at building a network of localized, integrated healthcare systems comprised of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Neurology, Interventional Pain Management and related diagnostic and ancillary services in key expansion markets throughout the Southeastern U.S. Serving Florida's Space Coast, the Company's flagship regional network currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
At Wolfe Axelrod Weinberger Associates
Donald C. Weinberger | don@wolfeaxelrod.com
Stephen D. Axelrod, CFA | steve@wolfeaxelrod.com
At Institutional Marketing Services
John Nesbett | jnesbett@institutionalMS.com
Jennifer Belodeau | jbelodeau@institutonalMS.com
At First Choice Healthcare Solutions, Inc.
321-802-5830
IR@myfchs.com
Source: First Choice Healthcare Solutions, Inc.
Thanks, pincher setups usually are good for a bounce. Not trading this one on fundamentals, although it is nice to see insiders buying and 14% shares short
I think ALQA is setting itself up ultimately for a buyout.
First Choice Healthcare Completes $15.45 Million Sale and Leaseback of Marina Towers
4/1/16, 8:30 AM
MELBOURNE, FL -- (Marketwired) -- 04/01/16 -- First Choice Healthcare Solutions, Inc. (OTCQB: FCHS) ("FCHS," "First Choice" or "the Company"), one of the nation's only non-physician-owned, publicly traded healthcare services companies focused on the delivery of Orthopaedic care and treatment, today announced that yesterday, March 31, 2016, its wholly-owned subsidiary, Marina Towers, LLC, completed the sale and leaseback of Marina Towers, a 78,000 square foot office building located in Melbourne, Florida, to Global Medical REIT Inc. for $15.45 million, netting approximately $8 million.
This non-dilutive capital will allow First Choice to continue executing its defined business plan, providing for the replication of its Melbourne-based system of Medical Centers of Excellence in other targeted geographic markets. In addition, other net benefits to the Company and its shareholders include:
50%+ reduction in Company's total debt;
Delivery of strong, positive working capital and enhanced total shareholders' equity;
Strong cash position to allow rapid implementation of the Company's growth and acquisition strategies;
Ability to recruit additional world class physicians and care specialists to the team; and
Expansion of the Company's leadership team with key executive appointments to mission critical posts.
Commenting on the sale and leaseback, Christian Romandetti, Chairman, President and CEO of First Choice, said, "The completion of this transaction marks yet another major milestone for First Choice -- and one that will surely prove to be a transformative event for our Company as we proceed with executing our expansion plans, designed to create, capture and enhance shareholder value. To be sure, we are implementing a business model that emphasizes controlled, smart growth; and one that we strongly believe best positions us to fully capitalize on the evolving dynamics changing how quality healthcare is being delivered in our country."
For additional details relating to the sale and leaseback of Marina Towers, please refer to the Form 8-K to be filed with the U.S. Securities and Exchange Commission (SEC) later today and found at www.sec.gov.
In other news, First Choice reported that due to the time and resources necessary to complete the building sale, it filed a fifteen (15) day extension to file its Annual Report on Form 10-K for the year ended December 31, 2015 (the "2015 10-K").
About First Choice Healthcare Solutions, Inc.
Headquartered in Melbourne, Florida, First Choice Healthcare Solutions (FCHS) is implementing a defined growth strategy aimed at building a network of localized, integrated healthcare systems comprised of non-physician-owned medical centers of excellence, which concentrate on treating patients in the following specialties: Orthopaedics, Spine Surgery, Neurology, Interventional Pain Management and related diagnostic and ancillary services in key expansion markets throughout the Southeastern U.S. Serving Florida's Space Coast, the Company's flagship regional network currently administers over 100,000 patient visits each year and is comprised of First Choice Medical Group, The B.A.C.K. Center and Crane Creek Surgery Center. For more information, please visit www.myfchs.com, www.myfcmg.com, www.thebackcenter.net and www.cranecreeksurgerycenter.com.
Safe Harbor Statement
Certain information set forth in this news announcement may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of First Choice Healthcare Solutions, Inc. Such forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management beliefs and certain assumptions made by its management. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from those contained in these forward-looking statements can be found in the Company's periodic reports on Form 10-K and Form 10-Q, and in its Current Reports on Form 8-K, filed with the Securities and Exchange Commission. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise to reflect future events or circumstances or reflect the occurrence of unanticipated events.
At Wolfe Axelrod Weinberger Associates
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Stephen D. Axelrod, CFA | steve@wolfeaxelrod.com
At Institutional Marketing Services
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Jennifer Belodeau | jbelodeau@institutonalMS.com
At First Choice Healthcare Solutions, Inc.
321-802-5830
IR@myfchs.com
Source: First Choice Healthcare Solutions, Inc.