I can see how much you all enjoy slinging mud at each other, which seems to be the main motivation to post here. But if RNVA continues to stagnate without getting its due from FOXO, RNVA common SH (both you and filter and jay and even chizo and LTGTR) do have alternatives to just sitting around waiting until it’s nothing but tumbleweeds. If you all can get it together.
Serious question, no snark intended: Since its about time, how long are you willing to wait before you decide other action is necessary? One month? Another Q? End of year? End of 2026? Just wondering what’s the limit of your patience.
Desperate to reveal the sinister in Seamus’ financial partners, yet failing to recognize Seamus’ own indifference to the law. Incredibly you insist that Seamus will deny his own interests and prioritize RNVA common SH. Despite everything he’s demonstrated over the last 15 years. I know 7 year olds who are less credulous.
Expand your google searches. You will find there’s good reason they are in business together.
Again i ask: how long will you wait before you give up on the great short squeeze? and when will you be inclined to enlist all those senators on your behalf? Just give us a date. I’ll be there with my popcorn.
So, in your mind both Diamantis and Sabby, seamus’ most faithful investors, abandoned an opportunity for stratospheric returns on their RNVA stock in a NS squeeze, instead opting for pennies on the dollar exchange for FOXO shares?
You bet.
And anyone who points out the gaping holes in your story is in the pay of the NS hedge funds who have, according to your story, >200 billion short shares?
Got it. the perfect conspiracy. only badshah knows the truth.
Q: any idea how long will you sit idly by waiting patiently for the great MOASS? One year? Two? Five? everyone has a limit. when if ever will you be inclined to enlist all those senators you know so well on behalf of RNVA common SH?
You are mistaken. Read the 10k. Seamus, not RHI shareholders, votes RHI shares. And as RHI is proxy to Sabby and Diamantis shares, he votes a majority of FOXO voting interest.
Who do you think the “Majority Shareholder” is that approved these latest actions?
This Notice and the accompanying Information Statement are being furnished to the stockholders of FOXO Technologies Inc., a Delaware corporation (the “Company,” “we,” “us,” or “our”), in connection with the corporate actions described below taken by the Company’s Board of Directors (“Board”) and by the shareholder representing a majority of the voting control of the Company (the “Majority Shareholder”).
Finally, there is a simple way to resolve this: was your vote solicited on this most recent action by FOXO?
This is virtually unchanged since the FOXO 10k months ago, wherein Sabby and RHI controlled 84% of voting shares. Then as now RHI is Sabbys (and now Diamantis’) voting proxy, and bc Seamus has majority voting control over RHI, he controls voting for Sabby and Diamantis shares. So nothing has really changed: Seamus, not RHI shareholders, has >80% voting control over FOXO.
From the FOXO 10k:
Our Chief Executive Officer and director, Seamus Lagan, and director, Trevor Langley, are in management of RHI with Mr. Lagan voting shares of the Company owned by RHI. Through this share ownership, Mr. Lagan has a majority of votes of our Company. Therefore, our management effectively controls all corporate activities and can approve transactions, including possible mergers, issuance of shares and compensation levels, without the approval of other stockholders. The decisions of our management may not be consistent with or in the best interests of other stockholders.
the fact they moved the remaining Sabby shares to discharge thru FOXO says alot on its own.
I agree it says a lot. Just not what you think.
Would Sabby agree to exit RNVA for FOXO if there were a short squeeze or other run coming on RNVA? You can tell other stories but to any neutral observer it says Sabby wanted out, and was willing to take pennies on the dollar to get out.
RNVA still owns and operates the Scott County Community Hospital
Seems you are confused. Rennova Health Inc (RHI aka RNVA) sold Myrtle and Rennova Community Health Inc (RCHI) to FOXO. RCHI, which owns and operates Scott County Hospital, is now a fully owned subsidiary of FOXO.
Genius, RNVA is on the Expert Mkt...so the question of RNVA shareholders being in charge of FOXO does not arise till this changes...
Nothing about being on EM that prevents shareholders from voting. But even so, it seems you are admitting that RNVA shareholders dont presently “own” FOXO.
When RNVA gets out of EM, Seamus will be forced to distribute the FOXO shares RNVA has gotten to its shareholders...they are not his or RNVA's to keep, neither can he keep them on behalf of the RNVA shareholders...
You seem to believe that RNVAs release from the EM is inevitable? Why? And when? How long will you wait?
And also seems you think that Seamus “will be forced” to distribute FOXO shares? But you’re ignoring the fact that no one is in a position to force Seamus to do anything. Seamus will do whatever benefits Seamus. What indication is there that he is acting in the fiduciary interest of RNVA shareholders?
I appreciate the optimism but I don’t get what you were expecting from FOXO. In the 10Q FOXO revenues are up YOY, but thats bc their previous business didn’t include hospitals. They are still reporting substantial losses, operating expenses 150% of revenue. Just wondering how you expect that to change? Especially w likely cuts to Medicare, prime source of revenues for rural hospitals?
What is your expectation for something more from RNVA? What are you waiting for? Do you and other bulls have a drop dead date for RNVA to exit the EM?
Well ya know for some folks unless an SC decision is reported on Fox News or Breitbart, it didn’t really happen. :/
Seems badshah is the only person here with a plausible investment thesis that doesn’t depend on profitable performance, only that FOXO stays afloat until RNVA gets off EM. What’s your take on his mother of all short squeeze theory?
Remarkable disclosure, including the paragraphs that follow. Seamus is telling FOXO shareholders they should prepare to be screwed. And that they have no recourse.
The issue isn’t competition, its whether one group of shareholders benefit to the detriment of the other. In some situations both benefit, but it’s unclear whether that’s the case here.
As for “transparency” there’s been no discussion from RNVA regarding how these transactions benefit RNVA shareholders. We might speculate, but…
Now the filings are coming showing the new $60 millipn dollar hospital on too of the. $25 million dollar ones !
No. They are intending to purchase two assisted living facilities (aka “senior care”), not hospitals. Very different operations. But both assisted living facilities and rural hospitals are quite dependent on Medicaid.
Shah, what’s your theory about the $60m acquisition of assisted living facilities? How does it play into the squeeze? Doesn’t it needlessly complicate and possibly undermine your envisioned scenario?
But your thesis is there will be a NS squeeze once/if RNVA gets current. But the squeeze depends on dividends to RNVA fr FOXO. Which depends on at least some profits fr hospitals (or eventual long term care facilities in FL).
So the key term is “deserving”. Because that is exactly how they will frame the cuts. Still, cuts are cuts.
And so, assuming RNVA/FOXO patients will be judged no more or less deserving than others, the cuts will negatively impact the business. There’s no way around that without arguing somehow that RNVA/FOXO patients are more deserving than others, and so they won’t be impacted by the cuts. Or maybe you’re hoping Trump will mandate rural TN is exempt from any cuts? :)
That’s positive for RNVA/FOXO if true. But Committee On Energy and Commerce is tasked with cutting $880 billion according to the budget resolution, and 96% of the budget it oversees is Medicare and Medicaid spend. Hard to reach that $880 b number without cutting one or both.
This has nothing to with GOP or Dem. Im simply stating the possibilities relevant to this ticker: if they cut Medicaid RNVAs business (via any future dividends from FOXO) will be negatively impacted. Anyone invested in RNVA or FOXO must understand that. If you don’t think they will cut Medicaid, im sure this possibility won’t bother you. Others, not so much.
Make no mistake: if GOP cuts deeply into Medicaid it will heavily impact both rural healthcare and less affluent assisted living businesses. RNVAs businesses, in other words. Many will shutter. And there’s simply no way GOP can cut anywhere close to their targets without cutting Medicaid or medicare or social security. Because ya know, oh the debt. And gotta have those tax cuts for the wealthy.
Seems your cage rattling got some response. Wondering if that’s impacted your willingness to bring a shareholder suit? Especially considering the current situation where there is a single individual acting as CEO of two companies that are negotiating over control, assets, remuneration, and possible merger terms? How can one CEO fulfill his fiduciary responsibilities to BOTH groups of shareholders in this situation? Seems rife for abuse, and an open invitation to the CEO to advance his interests over one or the other company's shareholders, no?
Also you’ve stated your investment thesis is that there are 100s of billions in NSS of RNVA. What is your source for the NSS estimate?
I’m a lurker here, interested in the rural healthcare market. but I find the intrigue around RNVA and their CEO irresistible. So a question:
Why should Lagan not just let RNVA collect dust in the EM? RNVA not FOXO on hook for HHS settlement w Feds, RNVAs only revenue generating assets are now in FOXO and Lagans salary is assured as FOXOs new CEO, so why should he care at all about keeping Rennova afloat? And what would a merger do for HIM personally?
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