UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): September 26, 2018
Rennova Health, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-35141 | 68-0370244 | |
(Commission File Number) | (I.R.S. Employer Identification No.) |
400
S. Australian Avenue, Suite 800, West Palm Beach, Florida |
33401 | |
(Address of Principal Executive Offices) | (Zip Code) |
(561) 855-1626 |
(Registrant’s Telephone Number, Including Area Code) |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
[ ] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
[ ] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
[ ] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 7.01. Regulation FD Disclosure
On September 26, 2018, Rennova Health, Inc. (the “Company”) issued a press release announcing that Seamus Lagan, our Chief Executive Officer, would be interviewed on Uptick Newswire’s “Stock Day” podcast with Everett Jolly. A copy of the press release is attached hereto as Exhibit 99.1 and a transcript of the interview is attached hereto as Exhibit 99.2.
The information furnished pursuant to this Item 7.01, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits
(d) | Exhibits |
Exhibit No. | Exhibit Description | |
99.1 | Press Release dated September 26, 2018 | |
99.2 | Transcript of Interview of Seamus Lagan |
2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: September 26, 2018 | RENNOVA HEALTH, INC. | |
By: | /s/ Seamus Lagan | |
Seamus Lagan | ||
Chief Executive Officer | ||
(principal executive officer) |
3 |
Rennova Health’s ceo, seamus lagan, talks with uptick newswire’s stock day on the company’s PROGRESS as it comes to the end of the third quarter
WEST PALM BEACH, Fla. (September 26, 2018) – Rennova Health, Inc. (PINK: RNVA), (PINK: RNVAW), (“Rennova” or the “Company”) a vertically integrated provider of industry-leading diagnostics and supportive software solutions to healthcare providers that acquired its second rural hospital in Tennessee on June 1, 2018, releases a podcast of Seamus Lagan’s interview with Stock Day’s Everett Jolly, discussing the Company’s progress as it comes to the end of the third quarter.
Mr. Jolly started by asking Mr. Lagan if Rennova would meet the previously mentioned expectation of collecting $2 million a month from current business by the end of this quarter.
Mr. Lagan answered saying, “I’m happy to report that we are right there, we are on target. Right now, we are collecting more cash monthly than the company has achieved in almost 3 years. I do believe our recovery is well underway.”
Mr. Jolly then pressed Mr. Lagan about plans for additional acquisitions and if there would be any more hospitals acquired this year.
Mr. Lagan indicated they are always looking at opportunities and said, “because of the financial situation we have to balance the capital needs of an acquisition with the benefits but we are looking quite extensively at one situation that may be very viable.” He continued with, “I just want to be clear that we do not have any definitive agreement, if we do reach a definitive agreement you’ll be the first to know.” Mr. Lagan went on to note that any new acquisition being considered would be close to the existing Tennessee hospitals.
Mr. Jolly also brought up the plans for a reverse split on the Company’s shares.
“This is always a sensitive area for shareholders” explained Mr. Lagan. “We find ourselves in a position where we don’t have a choice with the current sub-cent share price.” He went on to explain that the Company is starting to demonstrate in its filings an uptick in business and that they want to be in the best position for investors and shareholders to participate in the public market, which is difficult and costly when a share price is below $0.01.
For more on Rennova Health Inc.’s outlook and future plans you can listen to the entire podcast here:
https://upticknewswire.com/featured-interview-ceo-seamus-lagan-of-rennova-health-inc-otcqb-rnva-8/
About Rennova Health, Inc.
Rennova provides industry-leading diagnostics and supportive software solutions to healthcare providers, delivering an efficient, effective patient experience and superior clinical outcomes. Through an ever-expanding group of strategic brands that work in unison to empower customers, we are creating the next generation of healthcare. For more information, please visit www.rennovahealth.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Contacts:
Rennova Health, Inc.
Sebastien Sainsbury, 561-666-9818
ssainsbury@rennovahealth.com
Rennova Health Interview
CEO Seamus Lagan on Uptick Newswire September 2018
Speakers: Everett Jolly and Seamus Lagan
Jolly: On today’s show, I’m bringing back a returning guest. He was on my show back on August 14th. We’re talking about Rennova Health, Inc. They trade on the OTC markets under the ticker symbol RNVA. And with us today is the President and CEO of the company, Seamus Lagan. Seamus, welcome back to the show, greatly appreciate your time.
Lagan: Thank you Everett, it’s always a pleasure. Everett, like I keep repeating, it’s a good platform to give our shareholders a little additional information.
Jolly: You know last time we were on the show, we were talking about trying to hit $2 million a month. We’re coming up on the end of the third quarter. Do you believe this quarterly report will be completed on time number one? And are we on track to do $2 million a month in collections and other activities?
Lagan: Look, we did make that statement before and I’m happy to report that we are right there. We are on target. To the first part of your question, I see nothing to stop this quarterly report from being completed and filed timely. As soon as the quarter is over we will try to button down the revenues and give our shareholders an indication of what they look like, but right now we are collecting more cash on a monthly basis than this company has done in almost 3 years. So, I do believe the recovery is well underway.
Jolly: We acquired two rural hospitals in Tennessee. My next question for you, are we looking at any additional hospitals in that area or outside that area?
Lagan: We previously said we are always looking. We have nothing definitive, and if we complete a third acquisition this year it would be in the local area of the existing two. We are in a precarious position, we have to balance the capital needs of an acquisition against the benefits. But you know, we’re looking and we’re looking quite intensively at one situation that may be very viable and it may be very close, but I just want to be clear we do not have any definitive agreement. If we do reach a definitive agreement you’ll be the first to know.
Jolly: I see that you’ve already gotten authorization in place for a reverse split for your common shares. Can this be avoided? Or is it necessary to get the share price back to a marketable level other than the sub-cent area?
Lagan: Listen, it’s always a sensitive area for shareholders, including myself. Nobody likes these reverse splits Everett. We find ourselves in a position where we don’t have a choice. We need to execute on a reverse split. Sub one cent makes it very difficult for a lot of people to buy our stock. I believe we are starting to demonstrate an uptick in business in the turnaround, and we want to be as best positioned as we possibly can be for people to participate in purchasing our shares. So, yes we got the announcement out there, it has been filed with the SEC etc., so there’s unfortunately a reverse split in the offing.
Jolly: Can you give us any more news about that, what it’s going to look like or when the timeframe might come to fruition?
Lagan: Look, I don’t want to say more than is publicly available. We put the range out there and there have been quite a lot of filings on this. The information statement’s out there. We had a range, the maximum is 500 to 1. As actions happen over the next period of time there will be an immediate filling of an 8-K so that everyone is fully informed of what the company is doing.
Jolly: You know the last time you were on the show we were talking about getting government applications in, of fulfilling different, as you know, people down there belong to governmental health and stuff like that. How was that all coming to the forefront and if you could give us an update on revenues and where those streamlines are coming from?
Lagan: Medicare is still our biggest payer in these rural hospitals. And that’s working very well for us. They are one of the faster payers. We have credentialing in place with pretty much all the major payers in the local area, so we are very pleased with that. I think the collections are a result of the diligence and the work that’s been completed to tick all of those boxes and make that work well for us Everett.
Jolly: You’ve been listening to my guest Seamus Lagan. He is the CEO and President of Rennova Health, Inc. You can find them on the OTC markets under the ticker symbol RNVA. Spin off of the software and the genetic testing division, where are we at in that? Are you going to do two separate ones? Are you going to take them public? Are you going to just sell them off?
Lagan: At this point we have separated them into two. We did have a question out there as to whether we would do it as one or two, it’s going to be two. It’s going to be two spinoffs. And one of them is very close. Auditors have been involved in signing off on financials for one and hopefully that will happen in the immediate future. And the second one will follow shortly thereafter.
Jolly: In closing, what would you want my listeners to take away from this interview that you are trying to really press upon them?
Lagan: I think the story remains the same. This company has come through a difficult period. I think we are in a couple of quarters where we are demonstrating in our filings that, while it’s still difficult, there has been massive progress made on the business model and on the revenue model and I would hope that the investors and shareholders continue to watch those filings and continue to give us some credit for what’s been achieved on that front.
Jolly: Absolutely. Rennova Health is the company that we’re highlighting today here on Stock Day. I want to thank you Mr. Lagan for coming on the show. It’s always a privilege to have you on my show. I wish you nothing but continued success. In closing, is there anything we didn’t get a chance to touch upon that you would like to illustrate?
Lagan: You always cover almost everything that’s relevant. It’s a very short summary but it hits the buttons Everett. I think we’re good, I look forward to getting the quarterly report out and showing progress on the financial situation within the company.
Jolly: Thank you very much for your time, I look forward to you coming back on the show in about 30 or 40 days and then talking about your third-quarter report.
Lagan: Thank you very much, that would be a good time.