UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT
TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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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).
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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 February 22, 2023, 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 February 22, 2023 | |
99.2 | Transcript of Interview of Seamus Lagan | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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: February 23, 2023 | RENNOVA HEALTH, INC. | |
By: | /s/ Seamus Lagan | |
Seamus Lagan | ||
Chief Executive Officer | ||
(principal executive officer) |
3 |
Exhibit 99.1
RENNOVA HEALTH, INC. PROVIDES UPDATE ON 2022 FINANCIALS AND MYRTLE RECOVERY CENTERS
WEST PALM BEACH, Fla. (Feb 22, 2023) – Rennova Health, Inc. (OTC: RNVA) Chief Executive Officer Seamus Lagan recently joined Stock Day host Everett Jolly to provide an update on 2022 financial statements and other activities.
Jolly began the interview by referring to the improved previous quarterly reports and asked if the Company could provide an update on the 2022 financial statements that are soon due for filing. Lagan responded by confirming that filings would be made on time and would show a continued improvement in revenues and profitability for the 4th quarter and a significant improvement from previous years.
Jolly asked for an update on the behavioral health division. Lagan confirmed that in anticipation of opening, a new web site describing the services has been launched at www.myrtlerecoverycenters.com He confirmed that relevant license applications for medically supervised withdrawal, residential recovery and OBOT services had been submitted and were expected in the near future. He also confirmed that building and decorating works including furnishing will be completed in the coming weeks with the facility expected to be ready for patients at the end of March. Opening is predicted to be in the 2nd quarter of 2023 subject to staffing and licensure.
Jolly then asked if the company had plans to reopen its closed facility or plans to look for additional acquisitions. Lagan stated that the priority was to ensure continued consistency with the current operations and to get the behavioral health facility opened in the second quarter as planned but then explained that consideration would be given to adding behavioral health services at the Jamestown facility and reopening a hospital operation similar in size to the current Big South Fork operations. Lagan also confirmed that the Company was very open to an acquisition strategy to expedite growth.
Jolly ended the interview by asking Lagan what message he would like the Company’s shareholders to take away from the interview. Lagan responded by saying that despite certain hurdles and challenges remaining he believed the Company could continue with its current rate of improvement and create opportunity for shareholders and investors.
To hear Seamus Lagan’s entire interview, follow the link to the podcast here:
Stock Day Media / Rennova Health (RNVA) is Featured on 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 Health, Inc. (“Rennova,” the “Company,” “we”, “us”, “its” or “our”) is a provider of health care services. The Company owns one operating hospital in Oneida, Tennessee known as Big South Fork Medical Center, a hospital located in Jamestown, Tennessee that it plans to reopen, a physician’s practice in Jamestown, Tennessee that it plans to reopen and a rural clinic 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.
Contact:
Rennova Health
561-855-1626
info@rennovahealth.com
Exhibit 99.2
Rennova Health, Inc. (RNVA) Interview
CEO Seamus Lagan on Uptick Newswire – February 2023
Speakers: Everett Jolly and Seamus Lagan
Jolly: On today’s show I’m bringing back a returning guest - the last time he was on my show was back in December of last year. I’m talking about no other than Rennova Health, Inc., they trade on the Pink Sheets under the ticker symbol ‘RNVA’. With us today is the CEO, who is going to bring us up-to-speed, Mr. Seamus Lagan. Seamus, welcome back to the show.
Lagan: Everett, thank you for having me back.
Jolly: You know, the last time you were on the show we talked about the last couple of quarters showing the improvement that you had and that you predicted for the year, and it came to fruition. That being said, what are your thoughts on the 2022 audited financial statements, and I know they will be out soon here, they are due. Could you give us an idea of what they’re going to tell us?
Lagan: Everett, we are looking forward to getting the full year financial statements out. They will be out on time and they will confirm a continued increase in services provided and further improved revenues and profitability for the fourth quarter. As you said, in keeping with our message throughout last year. They are going to show a very significant improvement across the board from previous years. Hospital operations continue to be profitable on a monthly basis and we have continued to clean up a lot of old debts and litigation items on our balance sheet. We have been consistent on our message in the past year and firmly believe these financial statements will confirm those achievements.
Jolly: The last time you were on the show we talked about Myrtle Recovery Centers. Where are we with that new behavioral health division? When do you anticipate opening, one, and, two, what is your strategy for the division for the next three to four quarters?
Lagan: That division is progressing really well and in the anticipation of opening we have recently launched the website at MyrtleRecoveryCenters.com Relevant license applications have been submitted to facilitate the division of medically supervised withdrawal, residential recovery, and OBOT services. We expect to have these licenses granted to us fairly quickly. All building and decorating works, including furnishings, will be complete within the next few weeks, meaning the facility will be ready to receive patients by the end of March. The hiring process is already underway for multiple positions and if everything goes to plan here, Everett, and currently there is no reason why it won’t, we should have this first facility open and operating in the second quarter here.
Jolly: What else do you have going on with some of the other hospitals? I know that one is doing really well. I was thinking of the second hospital that you’re getting ready, hopefully, to open again? What are your thoughts on that and where are we at in that process?
Lagan: We continue to consider our best options for the closed Jamestown facility. Our immediate priority is to ensure we have continued consistency with our current operations and make every effort to open this first behavioral health facility in the second quarter as we’ve planned. We will then look at the closed facility and hopefully initiate plans to utilize part of the property as a second behavioral health facility and consider reopening a hospital operation similar in size to our Big South Fork location as a starting point. We certainly hope there will be some acquisition opportunity before the year is out, Everett. We are very open to an acquisition strategy to expedite growth again.
Jolly: You know what really blows my mind about your company is that your market cap is under $3 million, your run rate I think is going to be more than that for Rennova with the first hospital. Do you have any thoughts on that?
Lagan: That is a hard one. Public markets are what they are. We have hurdles out there and challenges that we still have to overcome. Our shareholders have waited a long time to see this recovery Everett, but I firmly believe we can maintain the current rate of improvement and create some renewed opportunity for our shareholders and investors throughout this coming year. We are looking forward to that.
Jolly: You have been listening to Seamus Lagan. He is the CEO of Rennova Health. This is my thought, and I am entitled to my personal thoughts. I think we are at the beginning of a yield curve line here on a hockey stick and I believe that 2023 is going to be the year for Rennova Health. Everybody should do their own due diligence but myself, at triple zero one, I don’t think you can get hurt too badly here. Seamus, I am going to give you the last word. What is that you want my listeners and your shareholders to take away from this interview?
Lagan: I think you described us pretty well. I think we have demonstrated what we’ve been promising. We’ve got a recovery well underway and hopefully we can continue to deliver.
Jolly: I want to thank you for coming on the show. Hopefully, you will come back in 30 to40 days and give us an update.
Lagan: Thanks, Everett.
Cover |
Feb. 22, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Feb. 22, 2023 |
Entity File Number | 001-35141 |
Entity Registrant Name | Rennova Health, Inc. |
Entity Central Index Key | 0000931059 |
Entity Tax Identification Number | 68-0370244 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 400 S. Australian Avenue |
Entity Address, Address Line Two | Suite 800 |
Entity Address, City or Town | West Palm Beach |
Entity Address, State or Province | FL |
Entity Address, Postal Zip Code | 33401 |
City Area Code | (561) |
Local Phone Number | 855-1626 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
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