Rennova Health Inc (RNVA)

[Bidsmaker1]

THE RS was pulled because there are not enough YES votes to approve it. This means there are not enough YES votes to approve a A/S increase either.

Shareholders are sending a clear message.

Let me spell it out in case there is any questions.

1. Close on the Jamestown hospital acquisition and the medical practice
NOTE: HARD DATE TAKING POSSESSION ALREADY ANNOUNCED FOR JUNE 1ST.
2. CANCEL R/S (WAS Cancelled by RNVA on May 4th.)

3. CANCEL A/S increase at or before next shareholder meeting
THIS WILL HAPPEN BECAUSE THERE ARE NOT ENOUGH YES VOTES although the company could come out in advance of the shareholder meeting and cancel the AS increase

A shareholders Suggestions:
Run the day to day operations from cashflow offset by lender provided financing. The lender has already underwritten the loan WHICH INCLUDES OPERATING FUNDS.

Slow and stabilize growth. No further acquisitions until cash flow carries current debts and operating expenses.

After stabilization target new acquisitions. Continue being very transparent with shareholders. If A/S is needed try smaller quantities since by that time PPS will have rebalanced to value. Shareholders would rather have the derivative liability and interest payments on the books than the diluted shares.


Shareholders see a real turnaround opportunity here and will start heavy buying of RNVA stock driving PPS.

Shareholders are smarter now and are no longer willing to simply hand over blank checks.

Shareholders are also willing to share risk so long as management performs.

Keep in mind that beyond dilution shareholders are additionally subjected to naked shorting/toxic financing, etc.,

Bottom line here.

Shareholders are willing to support the company and approve a reasonable A/S increase and a future RS on a performance basis. You perform, you get shareholder approval. No more blank checks.