Rennova Health Inc (RNVA)

[powerbattles]

*****THE SHOCKING TRUTH ABOUT RNVA IS $25 MILLION DOLLAR IN DEBT...

WRONG!!! Total liabilities is a useful metric for analyzing a company's operations. Higher dollar amounts of total liabilities is not a financial indicator of poor economic quality of an entity.

All assets of an entity are either owned by the entity and classified as equity or are subject to future obligations and are classified as a liability.

Example: Let's assume JOE borrow the money finance for 10 million dollars home. JOE house classified as an asset and the liability. JOE Borrow 10 million dollars plus interest that are classified as a total liability. If JOE tells other that he has a total 10 million dollars in debt then I am willing to bet he scare all his friend away.!

What if he said he owned 10 million of dollar home. Now is starting to looking good.

To address your concern without misleading other or provide them inaccurate information. Let click on the link you provide below and take a good look at the amount you claim $25 million dollars in debt.

Let look at under LIABILITIES AND STOCKHOLDERS' DEFICIT
here we go...it's stated clearly Total liabilities $25,154,356

LET'S CLEAR OUT THE CONFUSION:

$25 MILLION DOLLAR IN DEBT IS $25 MILLION DOLLAR IN DEBT YOU BORROW.

TOTAL LIABILITIES IS CLASSIFIED AS EQUITY TO FUTURE OBLIGATIONS. THIS IS TWO DIFFERENT BALL GAME.

https://backend.otcmarkets.com/otcapi/company/sec-filings/12393123/content/html

What are 'Total Liabilities'
Short-term liabilities are typically accounted payable, salary payable and rent payable. Long-term liabilities include the portion of a mortgage or equipment loan payable in greater than one year.

HOW ABOUT BREAKDOWN IN MORE DETAILS:

Current liabilities of AMSG classified as held for sale $1,368,612

They planning IPO - SPIN-OFF AMSG. IT'S DAMN GOOD DEBT IN MY BOOK.

NOTE: AMSG VALUE A LOT MORE THAN AMOUNT ABOVE:
In July 2017, the Company announced that it plans to spin off its Advanced Molecular Services Group (“AMSG”) as an independent publicly traded company by way of a tax-free distribution to its shareholders. Completion of the spinoff of AMSG is expected to occur during the first quarter of 2018,
https://backend.otcmarkets.com/otcapi/company/sec-filings/12393123/content/html

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Accrued expenses $5,010,298

This occurs also when sellers offer deferred payment options, such as "Fly now, pay later" plans. In both cases, the seller has accrued revenues and the buyer has accrued expenses.

As of Sep 30, 2017 This amount has been paid off.

On March 31, 2016, the Company entered into an agreement to pledge certain of its accounts receivable as collateral against a prepaid forward purchase contract whereby the Company received consideration in the amount of $5.0 million. The receivables had an estimated collectable value of $8.7 million which had been adjusted down to approximately $1.5 million on the Company’s balance sheet as of December 31, 2016 and $0 as of September 30, 2017.

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Accounts payable (includes related parties of $0.3 and $0.2 million, respectivanly) $ 4,296,213

This is an unpaid wage claim:

The Company’s Epinex Diagnostics Laboratories, Inc. subsidiary was sued in a California state court by two former employees who alleged that they were wrongfully terminated, as well as for a variety of unpaid wage claims. The parties entered into a settlement agreement of this matter on July 29, 2016 for approximately $0.2 million, and the settlement was consummated on August 25, 2016. In October of 2016, the plaintiffs in this matter filed a motion with the court seeking payment for attorneys’ fees in the approximate amount of $0.7 million. On March 24, 2017, the court granted plaintiffs’ motion for payment of attorneys’ fees in the amount of $0.3 million, and the Company has accrued this amount in its condensed consolidated financial statements. Additionally, the Company is seeking indemnification for these amounts from Epinex Diagnostics, Inc. (“EDI”), the seller of Epinex Diagnostic Laboratories, Inc. (“EDL”), pursuant to a Stock Purchase Agreement entered into by and among the parties.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12393123/content/html

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Current portion of capital lease obligations 1,491,666

The amount above is calculated the entire amount total full term of the lease. This is not a DEBT (LMAO)

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Current portion of notes payable 7,299,088

Note: original notes was $9,016,136 Current portion 7,299,088 plus $1,384,556.10 has convert into 1,730.7 shares of Preferred Stock.

$3,101,603.10 AMOUNT PAID OFF.

on October 30, 2017 the Company entered into Exchange Agreements (the “Exchange Agreements”) restructure the note that is due September 19, 2019 (the “Debentures”).
https://ih.advfn.com/p.php?pid=nmona&article=76733075

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Debentures 4,239,005

A debenture is thus like a certificate of loan or a loan bond evidencing the fact that the company is liable to pay a specified amount with interest and although the money raised by the debentures becomes a part of the company's capital structure.

Restructure convert to Preferred share.

Some others small amount:

Capital lease obligations, net of current portion 735,538
Current portion of notes payable, related party 223,500
Income taxes payable 490,436

THERE YOU HAVE IT!!! RNVA is $25 MILLION DOLLARS IN DEBT, ROTFLMAO!