Interesting trade pattern but many forgot. Every positive news or event resulted in MMS selling high volumes with shareholders taking losses. PPS continues dropping essentially every day to new lows. This was pre dilution, pre acquisition announcement, pre 10Q and now a Form 8K announcement stating 10B and RS along with conversion that puts Seamus Lagan in position to control shareholders vote. The last time AS was increased to 3B the shareholders felt the CEO would not have sufficient votes for approval so upwards pressure caused RNVA shares to run up to .03. The MMs knew in advance of the final date the vote was going to be approved so they heavily naked shorted the stock and a back dated 8K gave RNVA insiders enough shares to push the vote in their favor. The AS was approved and dilution began and drove PPS to new lows which continue today. The recent 8K issued prior to the upcoming 10Q is really intended not for shareholders but for MMs. Its saying essentially the CEO is in control therefor no risk of non delivery and 10B shares will soon be available to MMs via lenders on conversions.
On the flip side he closed on the Jamestown hospital, purchased a new MRI, bought a private physician's practice and increased gross revenue.
It appears to me he continues to use shareholders as an ATM with the objective of rebuilding RNVA. It appears RNVA will lose OTCQB status unless MMs decide it is better to sell off the remaining 600M shares then push PPS up to OTCQB minimums prior to RNVA going pink or greysheet. MMs are not stupid and probably like the idea of 10B shares yeilding them 6-10% yields per trade so it will be interesting to watch manipulation in the next couple of weeks.
After this occurs the next stage of dilution begins with PPS dropping to .00035 range and Seamus will have full control over RNVA shareholders and plenty of shares to exchange for cash to support operations and make additional acquisitions.
I believe this is the scenario as he works to build shareholder value. Many will continue buying all the way down but flippers will not do well in this environment. Best to buy at the true bottom.
Upcoming 10Q will IMO have greatly reduced derivative liability, improved gross revenue, some reduced debt, stronger assets and net losses.
Overall RNVA is strengthening its balance sheet and positioning for aggressive growth. Shareholders will suffer through another year or two of losses but money can be made if very carefull on entry and exits.
