Rennova Health Inc (RNVA)

[powerbattles]

Here is the main reason to why the company keeps issue the PRE 14A

IMHO: This is their game plan to protected shares fell below .15 cents.

"on August 8 2017 the Company. Pursuant to the Purchase Agreement, the Company has agreed to issue $4,960,000 in aggregate stated value of Convertible Preferred Stock.

THE TRICK HERE IS...THE COMPANY NOT LIABLE SECURITY INTEREST AND THEY CAN'T TOUCH ANY ASSET OF THE COMPANY. KEEP IN MIND THAT ON AUG 8, 2017 THE SHARES PRICE WAS TRADE HIGH 5.40 PER SHARE. THAT IS WHY THE LENDER THEY EXCEPT THE TERM WITH THE CONDITION NO DILUTION LESS THAN .15 CENTS.

WEEEEEEEEEE. THAT IS A SMART THING TO DO.

The Preferred Stock may be converted into common stock at any time at a conversion price equal to the lower of 85% of the market price or $1.00. The Preferred Stock does not include any security interest in assets of the Company or any fixed dividend rights and the Company is not required to file a registration statement for the shares of common stock underlying the Preferred Stock.

The key word is The Preferred Stock can't convert the share if the share is falling below 15 cents. 85% below one dollar that is .15 cents.

It's clear to see why they keep issue PRE 14A and no intention to do a squat about it.

what a smart way to screw the toxic lender. They love the 85% low ball now they stuck with share.

To think about this if they convert at the lowest is .15 $4,960,000/15 cent that is only 33 million adding to the o/s that is no big deal. Therefore, I think the entire float now is still less than 100 million.

https://www.rennovahealth.com/news-media/press-releases/detail/258/rennova-health-inc-announces-4000000-funding-from