Based off this Podcast RNVA is not going to initiate the r/s. only use as a final scare tactic so they can finish buying buyback their shares if they haven't already.
Think about the full RNVA story.
no fins have been dropped for a year. 1 hospital closed (optionally). R/S was not initiated by deadline. and share dilution.
I believe there a several reasons.
1) All share info would have to be updated in every fin release. Rendering the r/s scare tactic useless and irrelevant bcuz they have been quietly buying back shares. Openly showing the share structure change every in every release. That strategy could be weaker than a huge one time release. What is the need for a r/s if buying back shares? Scare tactic! if they really needed the r/s it would be initiated right now!!!
2) If lawyers and finance team have been working on being compliant this long and truly couldn't do it in time then that's the upset. But I don't believe that they haven't been able to release the fins at their own free will. I think RNVA delayed as long as the could, using the need of the files to be audited, as a extension to continue to buying shares and holding fins. How else can a "struggling" company quietly buy 3-4 billion shares open market in a years time?
3) Jamestown closed for a reason. I think they wanted it closed. RNVA did this in a loud way to cause a buzz. With Jamestown closed they cut cost tremendously. This also allows them to attempt to keep shareholder interest low. Wouldn't it be nice to show the community that you are the real deal by reopening your hospital to the current medicare/medicaid standards.
4) the dilution could be RNVA and MM working in conjunction, attempting to prohibit the premature movement in the stock. They have been making leeway in their massive buyback and don't want Shorts/flippers to damage their hard work and/or be involved in the massive bull run event.
Something big is already on the rise. Jellico is beginning to receive payments (oct), Jamestown reopens (late oct-early nov), Then fins following, presenting RNVA in a new light.
