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RNVA Happy Weekend All! It looks like bears are banking on a RS here in the near term...I wonder what happens if that doesn't occur soon? If I'm not mistaken it looks like RNVA a stock trading at .0001 will have an actual EPS for full yr 2023? If that is the case...how often does that happen in the world of trips? or dubs?
imho
mj
I heard that. I can't wait to see the day.
Imho
Yup things looking good past 6Q's...looking to add one more Q and a yr end to that :)
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mj
Also another possibility... Maybe debt/securities holders are waiting for the filed 2023 numbers to be cemented in before making any further deals on restructuring etc? Either way I have to believe RNVA is just itching to show the world what they have accomplished in 2023.
imho
mj
Yeah. I think there could be. And if there is it could be any number of things.
1 possibility... It was back in Jan the Rural Health Group started mentioning Jelico Hospital being on close watch. And now we know why as they have closed even after another group took control there in FEB. And it was also in January I think for the first time when RNVA mentioned Jamestown they also mentioned a 2nd option of using the asset to create value when before the plan has always been to reopen that hospital...unless I am mistaking? So maybe whatever is going on with Jelico changed their plans with Jamestown? I figure maybe either that or now that University Emergency Center that opened in Jamestown is too close for them to receive the CAH at Jamestown? One of the stipulations of receiving that cert is how close you are to another hospital. So this could be why the wording has changed on Jamestown...but maybe they are looking to put their foot into the ring again Jelico? I like that now they have what appears to be a self sustaining BSFM to show their strategy can work.
And also interesting we didn't get the podcast update and all of that. Maybe they are extremely hard at work? Or maybe trying to catch the market off guard with the numbers they are about to lay down for 2023?? I am already looking forward to seeing what 2024 Q's will show with the interest expense savings coming in to play now with all of the services ramped up and start up costs behind them. :)
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mj
I would say they will prob file the extension...however anything is possible...especially if wrapping up these fins is impeding on the next steps. They might want to get these numbers filed so they can complete some other transactions?
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mj
Good afternoon all! Looks like a few more shares taken at the ask today. One thing I like about RNVA. When times were bad they took their lumps and stated what the situation was and what it would take to fixt it. 3 yrs later the proof has been in the numbers for past so many Q's and could be leading up to a watershed moment of a year end filing that shows they could potentially maintain those levels of performance on a yearly basis. I'll continue riding here because its numbers not hype that will hopefully fuel this turnaround in stock price. There are also a few wildcards out there that could contribute to a beginning of the rebound in share price. I believe this one could be story book down the road. By the time the momo traders find it we might already be at .001 :) Either way I'll be around to find out.
RNVA doens't pump...No hype here from the company. If this one turns it will be about performance.
Numbers over hype. We don't get that too often in the OTC. This one could be special.
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mj
RNVA getting a few smaller taps at the ask today. Some light adding by retail? Or a warmup for another day of 100M being taken from the ask?
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mj
RNVA GOOOOOD MORNING All !!! Let's see how the volume looks today. In the past 2 months this company has averaged around 82.5M shares traded per day. Another day closer to fins release which will allow us to see full yr 2023.
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mj
Yes sir! Last year even with the NT10k filing the 10k was posted on 4/17 :)
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mj
GREAT MORNING TO ALL. Another day closer to seeing how Rennova performed for full year 2023. $1.5m in interest expense savings coming in 2024. :)
IMHO
Mj
Looks like RNVA is alive and well... more shares removed from the ask and no BK filing ;) What comes next here?
Imho
LoL. This .0001er is certainly getting attention from those who believe in what the comany is doing and those who do not. However its all engagement and shows interest. I can't wait to see what's brewing behind the curtain.
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mj
Roughly 30 days until fins are released. IF RNVA is buying back stock the cat will be out of the bag soon on that as they will have to report the purchases. Perhaps that is why we saw 500M traded last week? Q1 has the potential to be the highest revenue quarter this co has seen in years. IF profitable...there is the possibility they are using at least some of those funds to purchase shares. At .0001 just $1M retires 10B shares. There are only 40B showing in the total O/S if things stay the same and there haven't been conversions going on. Lets see what the volume looks like this week as it progresses. Would love to see some March Madness hit here with a side of FOMO. The company has shown great progress. If that trend continues...The next time .0001's disappear it could be the last. And we have some great entertaining commentary to keep us company while we wait to see how all of this unfolds.
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mj
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mj
Feels like perhaps we are just waiting for some I dotting and T crossing for an official PR on something? I would think if it were just going to be an update here that would only take a few minutes to put together and wouldn't take 3 weeks to get out? Unless of course something has to be approved by another company before we even get an update on here? Bigger companies do always come with much more bureaucracy and red tape to cut through. Interested to see exactly what they have put together as far as the new financing deal and which airlines are now involved. Every week that passes puts us that much closer to missing the install window before summer. We are already half way thru March. If things don't happen soon they likely won't happen again until EOY or next year.
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mj
How do you qualify as a critical access hospital?
Have 25 or fewer acute care inpatient beds. Be located more than 35 miles from another hospital (exceptions may apply – see What are the location requirements for CAH status?) Maintain an annual average length of stay of 96 hours or less for acute care patients. Provide 24/7 emergency care services.Dec 22, 2023
I wonder if this technical point could prohibit Jamestown from ever being deemed a CAH hospital due to the location of the University Hospital that expanded their services when Jamestown shutdown? Those 2 are very close together...just a few minute drive I think? Maybe this is why they have changed the verbiage from reopening Jamestown to possibly using the asset to create value. Maybe they can't get the CAH cert now at that location? Just some thoughts.
imho
mj
65 day avg volume is now up to 82.5M shares per day. That works out to almost 5.5 Billion shares traded just in the past 65 days. And we know the greater of trades have occurred at the .0001 ask. After last week it appears that the volume is starting to increase as we approach the end of Q1 '24 and the 10q/10k filing date from last yr. Hopefully we continue that 500M per week trend now...If that pace continued we could see another 2 Billion shares traded at .0001 by the K/Q filing date. I'm very much looking forward to the next few updates to see what Seamus has up his sleeve going forward. Whether its retail or the company...someone seems to be collecting some shares in this little ticker with no bid.
https://www.wsj.com/market-data/quotes/RNVA
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mj
Yes very interesting. What's also interesting is that the city votes to cut ties with Boa Vida in FEB and then proceeds to give the lease to Progressive that month...Then they don't make it there thru March? I don't know all of the details etc but I feel bad for this community It would be nice if Rennova was some how part of the remedy...but either way whoever it is this community needs that hospital to be open and functioning at all times. I hope in the case of the Rennova if they are trying to get back in there at all...I hope that community see's just how difficult it can be for operators in some areas to maintain a profitable hospital and retract some of the mud that was slung at Seamus and the company back then. Maybe CAH is the way to go? Why don't more rural hospitals go that route I wonder? Either way I would imagine Jellico will be looking to make a move very soon.
This week we cross over mid March. Q1 here could show the best results for total revenues this company has seen in a long time. Can't wait to hear all about that. We have a good number of potential updates on tap...which on hits first?
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mj
Another great week of what looks to be accumulation here. Was that 500M or so shares at the trip .0001 ask this week? Goodness. And no BK filing that some have been looking for I guess? :) Let's enjoy the weekend and see what next week brings. Trades at the ask seem to be on the rise despite not having a bid for a long time. Is it the company? Is it retail? Stay tuned I guess? Not sure I've been this excited to see how a trip .0001 stock plays out down the road. Just about 1 month away now from 2023 Q4 and EOY filings. Maybe we see them sooner?
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mj
I don't believe they ever bought that one. They were just the operator.
"Jellico Mayor Dwight Osborne told Knoxville’s WVLT-TV on Tuesday that he had issued a 30-day notice to Rennova in December, due to overdue bills and payments. The City of Jellico leased the hospital facility to Rennova for $1 per year, but the contract required Rennova to pay for equipment upkeep and building maintenance — something the Florida-based firm had allegedly failed to do."
They do own the Jamestown facility though which is likely why that one was in the plan to be reopened. But I wonder if something had changed with that plan...because in the 2024 Jan update they state...
"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."
Maybe they are looking to lease out the building for something else? Or sell it outright if they don't reopen themselves. I wonder if Jelico struggling changed the plan because its seems something has changed...before the plan was always to re-open Jamestown...not "create value from the closed hospital property..."
https://www.indherald.com/2021/03/02/bsfmc-is-rennovas-last-hospital-after-jellico-facility-closes/
https://www.rennovahealth.com/news-media/press-releases/detail/341/rennova-health-inc-ceo-provides-january-2024-message-to
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mj
“We used to have a wonderful running hospital, and lots of jobs and this community was really doing great, and now you can tell there is nothing here,” said a local hairdresser Rebecca Carr. “I’m afraid if we don’t get a hospital, I have a feeling this town is not going to survive.”
Mayor Terry said they are in contact with other providers to try to get the hospital re-opened as soon as possible.
I wonder could Rennova be involved in these discussions? It sounds like they are looking to reopen the hospital ASAP. Could we get the nod ? I know the odds are probably very low after how things went the last time but Rennova has done a great job turning things around and maybe that will play into consideration as operating rural hospitals in Tennessee is tough business. You never know I guess?...If Rennova is in the mix for this one...it may happen fast as that community badly needs that hospital open. The fate of their entire being could lie in the balance.
https://www.wate.com/news/top-stories/jellico-hospital-closure-leaves-locals-uneasy-about-the-future/
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mj
I would weep tears of joy with 1/2 of that.
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mj
Let us back in there on this deal...lol
"The City of Jellico leased the hospital facility to Rennova for $1 per year, but the contract required Rennova to pay for equipment upkeep and building maintenance — something the Florida-based firm had allegedly failed to do."
https://www.indherald.com/2021/03/02/bsfmc-is-rennovas-last-hospital-after-jellico-facility-closes/#:~:text=The%20City%20of%20Jellico%20leased,had%20allegedly%20failed%20to%20do.
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$RNVA Yes the CEO has done an excellent job of navigating this turn around. Most people would have just pulled the plug and walked away a long time ago. Looks like we have a tenacious fighter here.
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mj
$RNVA Gooood Morning and Happy Friday All !!! Here we are at the end of another week. It looks like 500M+ shares accumulated from the ask in the trading week so far with today still to go. Whether its Rennova or retail there is certainly in some interest in collecting commons. With all of the hospital closures in Tennessee over the past few yrs and now Jellico closing again as well it seems that there would be some kind of opportunities out there for Rennova to grow now that they seem to have stabilized the business at BSFM. Whether news comes before or after the 10k we are quickly closing in on that filing date.
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mj
Yeah if the CAH deal works...why not do that with all 3 of them? I'm not sure why other hospitals aren't doing that as well? I assume it would choke the potential overall revenues etc...however if its profitable I would say that is better. I'm sure there are some other technical aspects to all of that I know nothing about. With all of the other hospital closures in Tenn in the past so many yrs it seems like there might be some opportunity out there for Rennova now that they are starting to stand on solid ground. I guess we will have to wait and see what all RNVA has been focused on for 2024. I would imagine we hear shortly whether it be before or after the 10k etc. Last year they did a podcast interview in Feb. Looks like we aren't getting that this year. Maybe they wait until the filing and then sound the horn some? Yes there is still the corp overhang and bloated share structure...but it's hard not to be excited about the potential. If they get their hands on 2 more hospitals we could be looking at closer to $100M run rate in revs.
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mj
Opinion. Is Jellico back in play? Or do you think the bridges were burnt to badly on the last exit there?
Either way pretty interesting. Rennova never owned that building they were leasing it for like $1 per month if I remember right. Maybe they slide right back in there at a low cost?
https://www.wate.com/video/jellico-regional-hospital-closing-saturday/9497954/
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mj
I could see that being a possibility. In the past he said the business model works with multile hospitals. I wouldn't be surprised if they do try and get that one back. Wow...interesting development. At least they already own the building at Jamestown...The one in Jelico they never did own..they just leased that one...so they could swing right back in there if the city counsel would allow them too. I don't think they left that one on great terms...so maybe it is unlikely. But I like that its another possibility. They likely wouldn't need much up front for that one either...I think they were leasing it for something like $1 per month or something if I remember right? Then the bulk of funds could still be used to reopen Jamestown. Imagine the rev run rate if both hospitals come back into the fold with Rennova. Goodness.
Has RNVA been stalking this situation during the silence?
https://www.wate.com/video/jellico-regional-hospital-closing-saturday/9497954/
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mj
The O/S is 40B as of Early Jan. We are not sure if it has gone up or not? The O/S did not increase from Nov to Jan. :)
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mj
Yep. That is why I was in hopes that some of these bigger volume days actually is Rennova collecting back 100M at a time. Just $1M could erase 10B shares. Imagine the effect that update would have. :)
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mj
Yes. This is why I would like to see a $1M cash divi or a stock DIVI of INQR issued to RNVA shareholders. That might send a shock thru the sytem on the naked shares? :)
imho
Again I like the numbers but not sure where you're seeing that? Here is what Lagen stated..."He went on to remind Davis that there were still some items to be fixed from previous more difficult days but explained the intention to formulate a plan before year end to duplicate the current model in the Jamestown facility in 2024, and stated that if that was successful it would be possible to leave 2024 with annualized revenues of $50-60 million. He confirmed his belief that this was achievable."
https://www.rennovahealth.com/news-media/press-releases/detail/338/rennova-health-inc-provides-update-after-filing-2023
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mj
Ask keeps reloading...but nothing should be infinite if the company is profitable and works thru their issues. Times of crises are often times of opportunity. This will be a fun one to follow over the next few years. There were a good number of rural hosptal closings in Tenn over the past so many yrs. I wonder if there might be some opportunity floating around out there?
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mj
$12.5 million? What is this based on? Seems to maybe creating false hope? Lagan himself said they 'could' leave 2023 with a $25-$30M. I would like to think we could see $12M for the Q as you stated...but that is unlikely without Jamestown being open for business.
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mj
We are now just a few weeks away from closing the books on Q1. It will be interesting to see where the rev run rates stands now. Hopefully this Q shows the $25M run rate mentioned in the past by Lagan. $1.5 Million of savings on interest expense for this year. Lets see how that impacts the books.
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I wonder if the there will be some more .00005's available and handed out today to those looking to do a little shopping ?
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RNVA Morning all! Let's see if today will be another day of accumulatioin at the ask?
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mj
Very interesting volume over here this week. News on the further debt restructure or Jamestown could come at any time. Could March Madness actually be a thing for RNVA this year?!? :)
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mj
LoL its not even Friday
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mj