The point of my speculations is the company, like all OTC companies, needs cash to continue operation. I have zero knowledge of what is going on with the stock price action. But am guessing the company is issuing stock @ par value on the open market, rather the get involved with any new debentures or off market offerings.
Why the M&Ms have been capping both bottom and top price ranges is also unknown. One could give many logical "Maybe this" or "maybe that" reasons. But over the years I've realized most of the time, reasons are only known by the individuals creating the price action.
My main point is, of all the ways an OTC company could raise cash. Selling on the open market can be the least detrimental. Offerings can be expensive, Debit loans, very constraining to reaching profitability.
I will say, after reading the 2017K it seems management/the board has strong experience in finance. And It looks like most of the prior years of non profitable company assets and debit have been cleaned up in 2018. With one of the board members assuming a large financial roll on future business success.
There has been so many re-negotiations a laymen is lost. But the bottom line I saw is a board member holds most if not all debit, bad assets have been written off and put in non operational status. Plus the ceo & board own almost all the OS before the increase of the authorized to 3 bil. The company owns 1 hospital and is completing ownership of a second.
I feel NOTE #8 in the 2017k is the key to understanding the company financial standing.
During the year ended December 31, 2017, the Company repaid $110,000 that was outstanding to a former principal stockholder, and borrowed an additional $75,000 from this same stockholder, which has been repaid as of December 31, 2017. In addition, the Company borrowed $4.6 million from Mr. Diamantis, a director of the Company, of which $3.6 million was repaid (see Note 8).
Note 8 – Debentures
The carrying amount of all outstanding debentures as of December 31, 2017 is as follows
December 31, 2017
Debentures $ 17,720,082
Discount on Debentures (12,127,634)
Deferred financing fees (224,733)
5,367,715
Less current portion (1,615,693)
Debentures, long term $ 3,752,022
And this on page F41 indicates company ownership.
On March 6, 2018, the Board of Directors (the “Board”) of the Company, based on the recommendation of the Compensation Committee of the Board, approved grants to employees and directors of an aggregate of 71,333,331 shares of common stock, including the following to the directors of the Company:
Seamus Lagan 26,666,667 Shares
Dr. Kamran Ajami 3,333,333 Shares
John Beach 3,333,333 Shares
Gary L. Blum 3,333,333 Shares
Christopher Diamantis 3,333,333 Shares
Trevor Langley 3,333,333 Shares
Issuance of Common Stock
Subsequent to December 31, 2017 and through April 1, 2018, the Company issued an aggregate of 480,249,156 shares of common stock for conversions of debentures, warrant exercises and the issuance of restricted stock to employees and directors.
