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): July 13, 2021
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)) |
Securities registered under Section 12(b) of the Act:
Title of each class | Trading Symbol | Name of each exchange on which registered | ||
None | None | None |
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 July 13, 2021, 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 July 13, 2021 | |
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: July 13, 2021 | RENNOVA HEALTH, INC. | |
By: | /s/ Seamus Lagan | |
Seamus Lagan | ||
Chief Executive Officer | ||
(principal executive officer) |
3 |
Exhibit 99.1
RENNOVA HEALTH, INC., DISCUSSES THE COMPLETION OF THE SEPARATION OF ITS SOFTWARE DIVISION AND UPCOMING 10-Q WITH THE STOCK DAY PODCAST
WEST PALM BEACH, Fla. (July 13, 2021) – Rennova Health, Inc. (OTC: RNVA) (OTC: RNVAW), joined Stock Day host Everett Jolly to provide an update on the business and the timing to file the second quarter financial statements.
“Now that the second quarter is over, can you give us an indication of how that looked and if you expect to file your 10-Q on time in mid-August?” asked Jolly to start the interview. “The second quarter, Everett, has been a stabilization of the existing business,” said Lagan. “There was quite a lot of activity in the capital markets and we had a significant reduction in our convertible preference shares,” he explained. “With regards to timing for the Q, we’ve made some changes to our financial team that will help us and currently we are on schedule with numbers for the 10-Q and we do expect to file on time.”
Jolly then asked whether or not the Company expects to continue issuing additional common shares moving forward to meet their obligations. “We do have obligations under debt instruments and convertible preference shares,” said Lagan. “But, like I said, there has been a significant reduction and who knows what the second half of the year will bring. I think we are getting to a stage where an end to issuing additional common shares is on the horizon.”
“You recently put out a press release announcing the completion of the software division separation. Do you remain confident that the division will be successful?” asked Jolly. “We’re very confident in the success of that division,” said Lagan. “It has plans for a very exciting product on top of its core products that are already fully developed,” he shared. “We have worked on this for a long time and the separation is now complete,” said Lagan. “We intend that Rennova shareholders receive common shares in that entity and participate in its success.”
“Are there any takeaways from the last nine months that you would like to share?” asked Jolly. “Our filings disclose the difficulties that we have coming out of the period of time of the pandemic,” said Lagan. “Many companies have not made it through and we continue to work for the benefit of everyone here, and I still believe very firmly that the longer term prospects of this company will be significant and profitable for all.”
To hear Seamus Lagan’s entire interview, follow the link to the podcast here: (Stock Day Media / RENNOVA HEALTH, INC., DISCUSSES THE COMPLETION OF THE SEPARATION OF ITS SOFTWARE DIVISION AND UPCOMING 10-Q WITH THE STOCK DAY PODCAST (audioboom.com))
Investors Hangout is a proud sponsor of “Stock Day,” and Stock Day Media encourages listeners to visit the company’s message board at https://investorshangout.com/
About Rennova Health, Inc.
Rennova owns rural hospitals and a physician’s office in Tennessee and a physician’s office in Kentucky. 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
Sebastien Sainsbury
561-666-9818
ssainsbury@rennovahealth.com
# # #
Exhibit 99.2
Rennova Health Interview
CEO Seamus Lagan on Uptick Newswire July 2021
Speakers: Everett Jolly and Seamus Lagan
Jolly: Before we get started with the show today, I’d like to thank one of our new sponsors, the otcexchange.com. It is the first aggregated news service site. It provides you with all of the information you need to make informed decisions on penny stocks. That is the otcexchange.com. On today’s show I’m bringing back a returning guest, it has been a little while. The last time he was on the show was back in December of 2020. We’re talking about no other than Rennova Health, Inc. They trade on the OTC Markets under the ticker symbol RNVA, and joining us today all the way from Ireland is the CEO of the company, Mr. Seamus Lagan. Seamus, how are you doing buddy?
Lagan: Hey, Everett. I’m good, thank you. Looking forward to the end of these travel bans.
Jolly: I know, you’re stuck over there and as soon as you can get back over to the states, I know that you will. That being said, now that the second quarter is over, can you give us an indication of how that looked and do you expect to file your 10-Q on time in mid-August?
Lagan: The first quarter was very difficult, kind of the tail end of the pandemic, if you like. The second quarter for us, Everett, has been a stabilization of the existing business. I believe we are doing very well with that stabilization. In-patient services at the hospital reopened after being closed in the first quarter. Outside of the business, there was quite a lot of activity in our capital markets. We had a significant reduction in our convertible shares, which obviously led to an exhaustion of our common stock, but it’s still a direction that we want to keep moving forward in to get back to a period where there is not that much convertible stock out there. Look, we’re a long way off being there but we did make a lot of progress in the second quarter. With regards to timing, we’ve made some changes to our financial team that will help us and currently we are well on schedule with numbers and closing out month-ends and we do expect to file on time before the 15th of August it’s due, so yes.
Jolly: You mentioned a reduction in convertible stock as part of your previous answer, and I see the fillings for a reverse split in the near future. Do you see the continuing issues of additional shares to meet your obligations moving forward?
Lagan: For the foreseeable, yes. As you used the word obligations, we do have obligations under debt instruments and preferred shares. But, like I said, there has been a significant reduction and who knows what the second half of the year will bring, but I think we are getting to a stage where an exit is on the horizon. It will be good for all of us, for all of our shareholders when we reach that point and it’ll make capital much easier, and hopefully much cheaper. Our current investment bankers have supported us financially through a very difficult period of time and we look forward to them having a successful exit as well from their investment.
Jolly: You recently put out a press release about announcing the completion of the software division separation. I know you’ve been working on that for a long time. Do you remain confident that the division will be successful? And when will Rennova shareholders benefit from that success?
Lagan: We’re very confident in the success of that division, Everett. Honestly, it took too long to get separated, particularly in the current environment where technology and software solutions are key to the success of almost all businesses across the board, specifically healthcare. So, we’re very confident in what that company can achieve. It has a very exciting product under the belt, on top of its core products that are already fully developed. There will be information on that made available. We have worked on that for a long time and that separation is now complete, and we expect to complete the name change in the near future of VisualMed to InnovaQor and the business will be rebranded and operate under InnovaQor. The plan remains the same and Rennova Health is receiving preferred shares in the entity. Once that company is fully reporting and we can complete the registration statement, we intend to, I’m not sure if it’s a distribution or a dividend, that’s up to the legal and accounting teams, but we intend to make sure that Rennova shareholders do receive shares in that entity and participate in its success.
Jolly: It’s been a little while since you’ve been on the show, almost nine months. Any thoughts before I let you go? Takeaways from the last nine months?
Lagan: Our filings disclose the difficulties that we have coming out of the period of the pandemic. Like I said before, Everett, we’re still here. Many have not made it through but we continue to work for the benefit of everybody here, and I still believe very firmly that the longer-term outcome of this company will be significant and profitable for all.
Jolly: Rennova Health is the company that we’re highlighting here today on Stock Day. You can find them on the OTC Markets under the ticker symbol ‘RNVA’. Seamus, I want to thank you for coming back on the show and bringing us up-to-date. I wish you nothing but the best out there and hopefully you’ll get back over here to the states as soon as possible.
Lagan: I look forward to it and I’m glad to have a very capable management team on the ground. Obviously, again, technology makes being remote a little easier. Thank you, Everett.
Jolly: Thank you sir.