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$RNVA - Overview
Rennova Health, Inc. is a provider of health care services. The Company owns one operating hospital in Oneida, Tennessee known as Big South Fork Medical Center, a hospital located in Jamestown, Tennessee that it plans to reopen, a physician’s practice in Jamestown, Tennessee that it plans to reopen and a rural clinic in Kentucky. We are committed to delivering innovation driven solutions and services to meet critical healthcare provider needs.-
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mj
$RNVA Great day today once again 50M+ removed from the ask. Another day closer. One of these .0001 reloads will be the last...
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mj
$RNVA Good Morning All!! It looks like a few more shares coming off the ask today. Every share helps.
Another day closer to hearing the next steps of the plan.
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mj
$RNVA Congrats on another great day all.. another 100M shares removed from the ask. This can only happen so many times before we see the final .0001 reload.
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mj
certainly I will...with $20M revs and 7 figure profits...see ya over there in a few months :)
Best of luck here...hopefully you all get something good.
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mj
Is there any idea what companies are supposedly coming in? market cap is pretty..it would have to be something very solid to see any upside from this price...not to mention any dilution that comes with it?
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What is all the hype about? Another otc RM merger pump scam? market cap here is pretty high already.
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Whats supposedly coming into this ticker?
Looks like another 100M coming off the ask today. Retail? Company buyback? It would take just $1M to erase 25% of the O/S as it stands now.
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mj
$RNVA Good Morning RNVA. Another day a few more shares taken off the ask. Let's see how many we get today.
Likely see some sort of PR's soon
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mj
“RENNOVA HAS A LONG TERM BUSINESS PLAN TO OWN AND OPERATE THE HOSPITALS IT PURCHASED AND HAS NO PLANS TO SELL ANY OF THEM.”
https://www.ihoneida.com/2019/08/07/rennova-rejects-invite-to-sell-jamestown-regional/
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mj
Seeing days where we get blocks of 20M+ at a time makes me think...maybe juuust maybe..
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mj
Its nice to see a few hundred million going off at the ask every week or 2. Is this systemic buying by the company? It would only take $1M to grab 1/4 of the O/S and erase it :) Even if they just did $100k worth per month...in time we'd be in great shape here. Exciting possibilities.
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mj
$RNVA Happy Weekend all..nice to to see the B team basically out here talking amongst themselves. Maybe we all should just boycott the room until we have an update to discuss?
Another day and week closer :) Let's see what next week brings. There was a podcast in Feb last yr. I would imagine they will get these fins done asap as the next stage of the plan may depend on those being completed. Especially if debt holder negotiations are involved in the next step.
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mj
Yep...and with Fins like this...he might just ring that thing one more time ;)
$1-$3M Profits in 2023
$1.5M savings in interest expense for 2024...Almost like a head start :)
Yea Rennova is on some sort of path. Will be interesting to see how this plays over over the next yr or two.
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mj
Good answer...nicely laid out. Thx.
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mj
It looks ilke Same name
Same CEO
https://ir.nasdaq.com/news-releases/news-release-details/rennova-health-inc-nasdaq-rnva-ring-nasdaq-stock-market-closing
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mj
I agree. After the very dismal years and the beating that they took on the news and in the press in Tennessee they very easily could have just closed up shop and walked away. It seems Seamus see's a real opportunity here. He did not have to grind out these last 2 or 3 yrs and turn things around the way he did. I feel for those investors that got caught in the RS's etc...but I'm not sure there was any other way this company could survive. Assuming all of this is on the up and up...I figure Seamus has taken all of this press coverage personal and likely won't be satisfied until this ticker once again trades on the Nasdaq.
"We do see an opportunity for this business to succeed!"
Yeah I figure he wouldn't covert at .0001 either way ...that was the hypothetical just to get an idea of what the market cap looks like fully diluted should he decide to convert down the road. Would be really great if they could work some sort of deal with him to pay him back on a plan over time and not dramatically increase the market cap here with some big dumps down the road. But obviously he is here for the same reason we are.
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mj
Thx for the reply. So by receiving rewards I am assuming you mean converting his warrants to commons to cash out. Hypothetically if he were to do that right now we would have a market cap much higher around $20M correct? 200M shares X .0001 ?
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mj
Good afternoon $RNVA ! I was wondering if the class could help me and maybe those newer looking in with some items of interest. I am being asked some things but in no way an I an authority on the subjects. I don't want to put out or have any bad info floating around out there.
How many shares does Lagan hold here?
Whats the overall vote structure here? Does Diamantis have 51% control? Things get a bit murky with all of the warrants etc.
Is there anything stopping Diamantis from converting all of his series M warrants? Are there enough authorized shares to handle that dump if he were to convert?
Any light shared on these topics would be very much appreciated. Thx
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mj
Here in this podcast it sounds like we might actually see a behavioral health service setup at Jamestown before the hospital reopens. Also the mention of growth by acquisitions. Showing some profit on the books can make for all kinds of possibilities. I would imagine they are getting a good look at the final 2023 numbers now and will formulate the 2024 plan based on what they see. They did put out an update and podcast last Feb so maybe we see something along those lines within a few weeks.
$1.5M in interest expense savings. Its almost like starting off this year with a little head start ;)
https://audioboom.com/posts/8251354-rennova-health-rnva-is-featured-on-the-stock-day-podcast
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mj
Good Morning $RNVA Another day closer to getting over the hump. How many more reloads do we see? Whether its today, tomorrow, next week, next month or next year I will be here unless something significant changes with the company and its operations.IF you believe we may soon see .0002s type LMFAO... ;)
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mj
Any chance the tiny trades that go on are just to skew any moving averages for what goes on behind the scenes as far as conversion etc?
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mj
Sept 2022 "We are actively looking for opportunities for acquisition" Another possible wild card PR.
https://audioboom.com/posts/8157101-rennova-health-inc-provides-update-to-the-stock-day-podcast
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mj
Oh I would say several Billion if not more. They have prob sold 1B + in the last few months or so. Let alone the last 2yrs.
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mj
Hopefully One of these days whoever keeps putting up that 100 or a few hundred M on the ask every now and then loses them. I look forward to day someone has a good chunk of funds queued up and takes the whole lot at once as we advance to .0002 :)
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mj
I was thinking the same thing until they fully re-upped to 100M again...lol One of these times though will be the last...
Is today they day?
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mj
Good Morning $RNVA. It looks like we are starting off the week with a strong volume day.
Another day closer.
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mj
I don't follow? What are you saying? I believe Jamestown is still closed. However the PR did mention monetizing that property in some way. They could re-open it, sell it, or maybe even lease it to another operator? The good news is that they own asset. That provides for some options.
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mj
$RNVA Great Morning all! Lets go RNVA, Lets go LIONS!
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mj
We could see the next update in FEB per Ron. Hopefully we are able to carve our our niche in here..Imagine how many messages and how many in flight payments would occur here. Goodness....
24 hours of flight traffic in Europe
— Science girl (@gunsnrosesgirl3) January 27, 2024
📹 Plane Finder
pic.twitter.com/sMEUHafnUp
Yep. And just think..this year we start each Q with a $300k savings on interest expense and Myrtle should be getting up to speed. So we have a very good shot at 2024 fins being better than 2023...I'm def excited to see how 2024 plays out. I would really really like to get another debt restructure PR and see where that leads us. Even if the share price didn't move then...our 2024 would be even stronger.
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mj
Well there are def some folks soaking up shares here to the tune of a 100 or 200M every day or 2. Whether or not the rhetoric is the same...the fins are not...they do their own talking. They started to quietly tell the story in '22 for any that wanted to listen...now they are starting to get louder. With every additional $ of profit this ticker is that much closer to some kind of news that will eventually move it in my opinion. I just hope to have my basket full when its time. I"m almost half way there...If it runs next week I'll be just fine with that. If it does't run until spring or summer..I'll have time to collect the rest of my basket if the company continues on the trajectory that its on.
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mj
There are a number of possibilities. Any of them that continue the momentum they have going would be pretty big from the perspective of a long term investor.
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mj
Huge positive...Perhaps the perception of our little hospital is changing down there ?!? ;)
https://www.indherald.com/2024/01/25/lefwich-elected-scott-county-chamber-president-for-2024/?fbclid=IwAR1fIH_qIeLcmKFSTTDgqSpgz6KNJu0dRFjy2Z2SzjSQ6nq-14rdoGy8Oy4
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mj
$RNVA GOOOOD MORN'N ALL!!! Looks like today's first tidbit is that the emergency room at BSFM was scheduled to reopen last night. Should be back to regularly scheduled programming :)
My apologies but I was referring to 3 days in Sep with big volume...but those are still prob the days you are referring to. I figured it a possibility that a group came in and played around a bit.
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mj
yeah $3M in debt reduction is great but there is still quite a bit to go and I have a feeling a lot of penny players got nuked on this one during the bad yrs...that many RS's is pretty much unheard of even with the worst of scams. People are trained to believe that a R/S is the kiss of death no matter the situation..which just isn't true...So when someone see a bunch of R/S they won't look at why...they will just call the co a scam and then run off. Most of the time they would probably be right...however this one is different in my opinion.
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mj
Any clue on what caused the volume spike of around 5.4B shares over 3 days in Sept of last year with no PR released around that time? Being they were already profitable at the 9 month mark...Any thoughts that they might have take a few B back then? Heck it would only take $1M to grab 10B shares...maybe after the first 3 Q's they had enough cash to buy maybe $300k worth? Seems that is within reason? That will still leave them cash to start the process on reopening Jamestown. And as far as that goes... Does the Hospital have to be already up and running before applying for the Critical Access Cert..or can they be working on that prior to opening the facility? Its great that they already own that asset. That is a huge cost out of the way upfront.
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mj