Replies to post #128882 on Rennova Health Inc (RNVA)

[trd4profit]

From the 12/16/21 DEF 14C


RENNOVA HEALTH, INC.

400 South Australian Avenue

Suite 800

West Palm Beach, Florida 33401

[phone]



Notice of Action by Written Consent of

Stockholders to be Effective January 12, 2022



Dear Stockholder:



We are furnishing this notice and the accompanying Information Statement to the holders of shares of common stock and Series F Convertible Preferred Stock (the “Series F Preferred Stock”) of Rennova Health, Inc., a Delaware corporation (the “Company”), for informational purposes only pursuant to Section 14(c) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder.



The purpose of the Information Statement is to notify our stockholders that effective on December 15, 2021, the holder of 250,000 shares of the Company’s Series L Convertible Preferred Stock (the “Series L Preferred Stock”), and the holder of the proxy to vote 20,810.35 shares of the Company’s Series M Convertible Redeemable Preferred Stock (the “Series M Preferred Stock”), each of which votes with the Company’s common stock and the Series F Preferred Stock, representing 53.8% of the total voting power of the Company’s voting securities, approved by written consent in lieu of a special meeting of stockholders the following proposals, which had previously been approved and recommended to be approved by the stockholders, by the Board of Directors of the Company on December 14, 2021:



Proposal 1: To approve an amendment to our Certificate of Incorporation, as amended, to increase the number of authorized shares of our common stock from 50,000,000,000 to 250,000,000,000 shares.



Proposal 2: To approve an amendment to our Certificate of Incorporation, as amended, to effect a reverse stock split of all of the outstanding shares of our common stock, at a specific ratio from 1-for-2,000 to 1-for-10,000, and grant authorization to our Board of Directors to determine, in its discretion, the specific ratio and timing of the reverse split any time before December 31, 2022, subject to the Board of Directors’ discretion to abandon such amendment.



These actions were deemed necessary by our Board of Directors because the increasingly rapid conversions and exercises of our outstanding securities into common stock are expected soon to exhaust all of our authorized shares. Also, in connection with our recent Series O Convertible Redeemable Preferred Stock (the “Series O Preferred Stock”) and Series P Convertible Redeemable Preferred Stock (the “Series P Preferred Stock”) financings, we have agreed to have shares of common stock available for issuance upon conversion of the Series O Preferred Stock and Series P Preferred Stock.

[Life is great]

That’s just proposal. I know about that.