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Thanks!
Does any body know do you need a prescription? In the interview, Bill took some. I would like to order some online if possible.
Toxic debt or no toxic debt. Pinkie or Nasdaq. It all depends upon the execution of management. The execution of management is reflected in the stock price. From 7.75 to .015, the market has spoken about the execution of management. Sure illegal shorting affects the stock and the issuance of toxics affects the share price. They would not need toxics if they sold product. The only people who thinks management is doing a great job is management, but their voting of bonuses, thus the issuance of more toxics. If Wellington had completed phase 1, the price would be over 1 dollar by now. However, according to the last filing, management needs 1,000,000 basically so that the staff can get paid. I have another thought. Staff can get paid through sales. It is laughable that the guy in charge of sales gets paid over six figures, but has brought in around 6,000 of revenue. Once again, the execution of management.
This is a forward looking statement, just my opinion, cannot be relied upon (blah, blah, blah).
$100 of trades does not amount to anything. Try unloading any amount at these levels. However, to the point, the toxics seem to be gone.
I really like this part:
Dear Valued Shareholders:
Now I will go back to being angry and depressed. I knew it was too good to be true. Still cannot exit the roach motel. But where is that update that we have been promised?
I know. However, just intrigued.
Sure sounds like this company.
GeneSYS ID Inc (OTCMKTS:GNID) shares were down 6.67% to $0.0140 on Friday after the company shared its plans to buy Interactive Intelligence.
GeneSYS ID Inc (OTCMKTS:GNID) shares were down 6.67% to $0.0140 on Friday and flat in after-hours trading. The company has a market cap of $134,017.00 at 13.05 million shares outstanding. Share prices have been trading in a 52-week range of $0.01 to $7.20.
GeneSYS ID Inc is a company that offers various secure fingerprint products and solutions for both the professional and consumer healthcare markets. Formerly known as RX Safes, Inc, it develops, designs, manufactures and sells finger print activated medication safes and other healthcare storage equipment, on top of offering autonomous fingerprint medical security solutions for controlled substances.
These products and technologies address the economic and social impacts of drug diversion, unauthorized access to medications, prescription drug abuse and poor medication adherence. GeneSYS ID Inc also offers its fingerprint interface as a solution for customers to license and integrate into their own products, jointly develops products with original equipment manufacturer partners to deliver security and accountability to their existing product offerings, and offers customized end user add-on solutions for healthcare facilities, among others. It has Rx DrugSAFE Pro, Rx DrugSAFE IC, and other products in the pipeline.
Last month, GeneSYS ID Inc shared its plans to buy Interactive Intelligence for $1.4 billion. This company is a global leader of cloud and on-premise solutions for customer engagement, communications and collaboration, which would make a good match for GeneSYS ID Inc in terms of powering the world’s best customer experiences at scale, anytime, anywhere – over any channel, in the cloud and on-premise.
The deal would give Interactive Intelligence shareholders $60.50 per share in cash through a transaction that is expected to close by the end of the year. GeneSYS ID Inc plans to fund this through a combination of existing cash on hand and debt financing. In addition, committed debt financing will be provided by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs and RBC Capital Markets.
Cash on hand? That will be a large amount of toxics at .01. Not buying it yet, but not as skeptical. Intrigued is the better word.
GeneSYS ID Inc plans to fund this through a combination of existing cash on hand and debt financing. In addition, committed debt financing will be provided by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs and RBC Capital Markets.
I am happy, but when did they share its plans to by Interactive Intelligience?
Last month, GeneSYS ID Inc shared its plans to buy Interactive Intelligence for $1.4 billion. This company is a global leader of cloud and on-premise solutions for customer engagement, communications and collaboration, which would make a good match for GeneSYS ID Inc in terms of powering the world’s best customer experiences at scale, anytime, anywhere – over any channel, in the cloud and on-premise.
The deal would give Interactive Intelligence shareholders $60.50 per share in cash through a transaction that is expected to close by the end of the year. GeneSYS ID Inc plans to fund this through a combination of existing cash on hand and debt financing. In addition, committed debt financing will be provided by Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs and RBC Capital Markets.
If that went through, I might have to send Lorraine some roses.
Have you read the filings? There are more toxic lenders than I can count. They are there.
at .0155, there is no where to run to, no where to hide. I have checked into the roach motel. You can check in, but you cannot check out.
I know that you will keep on posting no matter what I say, but you have been right so far.
I was the one calling the Ruth Group to find out that they were no longer involved (at least in the PR department). That was not disclosed in the filling, but it was certainly PR'd at the beginning. Until I can see some acquisitions (with actual cash), there is nothing to do. I cannot sell because of the extreme loss. If I could, I would get out and never look back. This has been a complete nightmare. They are acting like they are a Fortune 500 company with less than 10,000 of sales.
I stopped buying after the last filing.
We have 15 days to the end of the quarter, which was supposed to be the quarter of all quarters. The plan would be put together. Just look at the filings. I looked at the last one and threw up.
I bought in on this story. I won't forget. Nate had to have known.
Just like the China deal??????????????????
50% down in one day. Wow!
At that time, it seemed pretty clear to me. Words like contracted, shares our vision, three stages, we have selected an investment banker lays out a clear plan.
Last filing, no mention of the agreement. This is what we have all been waiting for. This was the mother load. Now, no letter on website.
What went wrong?? I know that we have until October 31, but the pieces of the puzzle do not add up.
If I was a sofisticated investor, I would believe very much in that release until the latest filing.
Now, at least for now, the Ruth Group IR is no longer working with GNID. They may serve other functions, but I am not banking on it.
Without any other guidance, I am forced to believe something happened between May 24 and June 30.
On the other hand, there have been no lay offs to my knowledge. They still have 8 people on the websites. That does not mean anything. They are waiting on two more directors for the supposed Nasdaq uplisting.
But as the addage goes, the share price says it all. Down over another 30% today. 7.75 to below a penny
Gladly
May 24, 2016 08:30 ET
RX Safes Releases Shareholder Letter; Reviews 10Q and Introduces Funding and Uplist Plans
HENDERSON, NV--(Marketwired - May 24, 2016) - Rx Safes, Inc. (OTCQB: RXSF), a healthcare technology and medical device company that develops autonomous fingerprint security products designed to combat drug abuse and diversion, today released a shareholder letter reviewing the Company's 10Q and outlining Funding and Uplist plans.
Dear Valued Shareholders:
As you know, Rx Safes, Inc. just filed its first quarter disclosure for 2016. The Company spent the majority of the first quarter launching many new sales initiatives. These efforts resulted in us receiving an MOU for 5,000 units of the Rx DrugSAFE product from a totally new client from the home improvement industry, as well as our first order from a school district. We plan on expanding our presence in both of these new markets throughout the rest of the year. In addition, we spent the first 4 months of 2016 interviewing and negotiating with several investment banking firms to assist the company going forward with properly structured financings, as well as our goal of up-listing to a national exchange. Thanks to efforts of our public relations firm, The Ruth Group, the company was invited to present at several investor events, as well as participate in many one on one meetings with potential future financial partners. We used these meetings and events to fine tune our messaging to the investment community while continuously speaking with investment bankers with a goal to identify the right investment partner who could assist us in meeting our previously stated and disclosed objectives and goals. As is disclosed in the subsequent events in the Company's 10Q, we have finally selected and contracted with an investment banker that recognizes our value proposition, has a proven track record of funding multi-tiered financing plans, and who shares the company's vision for expansion and uplisting.
I would like to help our shareholders understand the significance of the three-tiered approach our banker is implementing and how it will be instrumental to the success of our company. As has been disclosed, the Company has been funded to date with convertible debt. We have been able to manage this debt effectively and have mitigated the potential negative impacts this debt can cause through leak out agreements, as well as by retiring a number of seasoned notes independently. I have stated numerous times in public filings and other disclosures that it was my intention to eventually retire all variable convertible debt in one shot, provided that the company had sufficient operating funds in place to allow it to raise appropriate long-term funds. The initial agreement with our banker addresses this debt with up to $1,000,000 in short-term non-dilutable/non-toxic bridge money that will be used to pay off all of the variable convertible debt and provide several months of working capital until we are able to complete the next step of our plan. Step 2 of our strategy involves recapitalizing and restructuring Rx Safes through the acquisition of one or more revenue generating, positive EBITDA companies that compliment, expand or improve our product offerings, whether they serve other healthcare markets, provide expanded IP protection, or add valuable experienced management to our team. Over the past 4 months, we have targeted and have been in discussions with several companies, all of which could provide significant, measurable and accretive value in the areas of IP, products, distribution, revenues, cash flow and personnel. Our banker recognizes the value of this approach and, as such, has provided us with a facility of up to $15,000,000 acquisition capital to allow the Company to meet its goal to realize accelerated growth through acquisition. With this facility now in place, the Company now has the ability to move discussions forward more aggressively with our acquisition targets and we hope to conclude these transactions by the end of the Q3 2016.
Finally, the Company will need to raise significant capital post acquisition to support the needs of an expanded entity as well as market the company to a much larger audience, and in accord with our previous disclosures, we believe the best way to do that is in connection with an up-listing to a national exchange. While we had started negotiating funding based on needs of the existing business operations and felt $10M would be sufficient, with input from our bankers and financial advisors, the new expanded company would need significantly more than $10M. Consequently, we have signed an agreement with our new banker for up to $40,000,000 through an underwritten Confidentially Marketed Public Offering (CMPO) with a simultaneous up-listing to NASDAQ.
Accordingly, once all of the debt is retired and the acquisitions are closed, we will establish a new pro-forma enterprise value upon which the pricing of the CMPO will be based to commence the larger raise and an up-list to NASDAQ. This has been the plan since we announced the restructuring of the company last year, and we haven't changed direction. The Company will continue to keep its shareholders updated as each phase is successfully completed.
Rx Safes' Q1 report reflects a Company that has successfully commenced activities to meet its sales objectives. The CVS pilot was launched in January 2016, and we continue to work with CVS to expand that pilot program now to providing our Rx DrugSAFE product directly to CVS customers at the store level. While we cannot yet project a date for in store sales, we expect the expansion of this program to occur in the third quarter, 2016. As previously referenced, the Company received an order from Home Builders Consultants, Inc., a nationally recognized supplier of building technology and products to the home and commercial construction markets, which will result in $495,000 of revenue over a 2-year period with first deliveries commencing September, 2016. In addition, we recently received an order for of our newly designed Rx DrugSAFE Pro safes from a Kansas Public School District. The safes will be used by school nurses to lock up student medications including controlled substances in their schools. We will deliver these units before the new school year in August. Through this newly established relationship, we have also been invited to exhibit at an upcoming Kansas School Nurses Conference in July, which is well attended by nurses from schools across that state. This event will allow us to secure orders for our newly developed products from many additional school districts across Kansas. We are also planning to expand the introduction of these new professional safe products into other school districts across the country.
We recently successfully launched our National DoctorDIRECT Program at the American College of Physicians Conference two weeks ago in Washington D.C., where we received commitments from over 200 physicians wanting to sign up for the program. The DoctorDIRECT Program allows physicians who write prescriptions for pain, anti-depressant or stimulant medications to provide ordering information to their patients for the Rx DrugSAFE at the time of prescribing. The patients can then acquire an Rx DrugSAFE at special discounted rates. Through this program, the physicians can also participate in a revenue share or choose to pass the value of the revenue share to their patients for an additional discount. This program is Sunshine Act exempt. The company is in the process of sending out program information to each doctor that registered in order to get these safes into the hands of their patients as soon as possible.
Convertible debt is still being managed responsibly until we close our interim funding. We have already retired several convertible debt instruments on our own, preventing their conversions into the public market. While our banker begins our funding plans, the Company will continue to responsibly retire and manage our convertible debt obligations. The Company has required that new and existing note holders be bound to strict-leak out agreements. The Company has set up leak-out compliance procedures allowing the Company and its attorneys the ability to monitor daily how and when any new convertible debt stock is introduced into the market. The Company believes that these programs of checks and balances will continue to foster an orderly market for our shareholders while slowly adding converted needed additional shares to the public float. At the same time we will continue to retire debt from our books. Please understand that with our small float and limited trading volume, this will be a slow process until we close funding and that the most important part of this debt retirement program is being responsible.
The 10Q indicates that in early 2016, the Company hired seasoned professionals in the areas of marketing, sales and strategic growth planning. This human capital expense was necessary to develop and kick off sales and marketing programs for 2016-2017. In most instances, salaries to these executives are accruing and will be paid once the Company has adequate financial resources to do so. In addition, we have secured a new CFO who joined Rx Safes officially on May 23, 2016. It was critical to hire a seasoned financial professional at this time as we begin the implementation of our multi-tiered funding plan with our banker. The CFO will play a key role in working with our investment banking firm to gather, analyze and present all of the necessary due diligence materials and structure the enterprise based pro-forma to support our current and future financing goals.
The Company and its new management team are as committed as ever to create a sustainable business with consistently increasing shareholder value. We expect to realize rapid growth as we move through the stages of our funding and acquisition plans and will continue to keep our shareholders well informed on our progress and challenges in all areas of the Company's business throughout the year.
On behalf of the Company and its Board of Directors, we truly appreciate your continued support and patience while we embark on the next phase of the Company's growth. We hope that the Company's positive outlook is also recognized by its shareholders, and I am totally committed to making this company a success in every sense of the word.
The shareholder letter of May 24, 2016 all gave us hope. It is nowhere to be found now. Was it a ploy to buy time to sell more toxics, who knows?
Somebody is still buying the toxics.
Obviously no 1,000,000 transfer as of yet.
On a positive note, only down 3% today. Keep up the good work fab five. I know you have the shareholders best interests at heart.
Technically, your statement that no news since May 24 is incorrect. I cannot find the shareholder letter on any of the websites! There was no mention of it in the August 15 filing. Oversight?
Was it a good way to keep shareholder hope alive to sell more toxics? Time will tell. 53 days and counting. The noose is tightening.
I believe now that many longs will not buy anymore. After the August 15 filing, I knew that I had been had. But do not worry, I do not forget. My attitude will change with an acquisition. How they will do it I do not know. They just keep on adding employees.
They will just reset the price, based on their hard work and performance bonuses.
Really? For what? What is the criteria to obtaining a 30% bonus? A share price that goes form $7.75 to .014 to possible trips?
On February 1, 2016, the Company and Ms. Yarde entered into an amendment to the employment agreement to increase her salary from $175,000 to $200,000 to be retroactive and amend the strike price on her options to $0.001. In addition, the Board of Directors awarded her a 30% performance bonus for her services.
Wow!!! All this for 5,000 of sales.
On February 1, 2016, the Company executed an employment agreement with Faruk Okcetin a Director of the Company. The employment calls for a base salary of $125,000 per annum. He is also entitled to a performance bonus of 10% of his base salary. In addition, the Company will immediately grant to employee an option to purchase 10,000 shares of the Company’s common stock with a vesting and strike price as follows:
(i) 2,500 shares vested immediately with a strike price of $0.001 per share;
(ii) 2,500 shares vest on the six month anniversary of the agreement if the employee is still employed to the Company with a strike price of $0.001 per share;
(iii) 2,500 shares vest on the first anniversary of the agreement if the employee is still employed to the Company with a strike price of $0.001 per share; and
(iv) 2,500 shares vest on the second anniversary of the agreement if the employee is still employed to the Company with a strike price of $0.001 per share.
At June 30, 2016, unpaid compensation under the agreement is $41,667.
According to the last filing, there is $3,892 in inventory for all of their three websites of inventory for sale.
I have an idea, go hire some more people and declare more bonuses. There are now eight mouths to feed on only 5,000 in sales. Yes, sir. That Lorraine is building a company all righty. Maybe MyTouch ID will provide a lot of sales.
My Touch ID has garage door openers, padlocks, thermostats, door lock and thumb drives.
The senior VP of sales needs to get going, along with the CVS opportunity.
I guess they do not have to cash to inventory the products, but they do have cash (toxics) for payrolls.
The next quarter filing will be interesting. How much is the My Touch ID has in sales?
Their sale price of %125,000 in stock at .35 is not worth very much at .015 in such a short period of time.
The fab five are incredible. More bonuses for everybody, and the resetting of the option price.
Shouldn't the new senior VP of sales be handling the CVS roll out? Shouldn't some of the toxics be used to fund inventory. Sadly, the toxics are being paid for salaries of people who are not producing. 5,000 of sales is pathetic.
A new idea, but most companies pay their salesmen on commissions, not toxics.
Faruk Okcetin
S.V.P. Sales
Where are the sales???????????????
Look on the bright side, down 27.45% today. Have I mentioned how much I love and admire the fab five?
Down 25% today. Thats the Lorraine way. I was not used to seeing green. I did not know that color existed. I do know the color of red. 7.75 to .015. That is stellar.
Somebody's buying. Around 30,000 today. This should keep the fab five in luxury for a couple of weeks. Sure beats having to work and make sales quotas.
I keep forgetting that Lorraine is building a business.
For those that bought at .025, now the bid is at .016. Quite a day's drop.
Nothing like losing about 40% of your investment in one day.
One again, Lorraine does not care about the share price. She is busy building a company on toxics.
It looks as though $25,000 in volume. Somebody is buying.
Congratulations for the shareholders who bought at .025 today. It is now below .02. Get used to it investing in GNID, land of the toxics and no sales. They even have an IP attorney on staff. Eight employees and less than 5,000 in sales. Another round of toxics please, plus bonuses and resetting of stock options.
Lorraine and the fave fab are too busy running a business to be concerned about the share price. Where are the sales and acquisitions?
This is supposed to be our quarter.
It looks as though the company is receiving around $4,000 to $4,500 a day in toxic conversions.
Why create sales when you can dilute?
The fab five is too busy creating and building a company to be worried about the share price.