PDH - Premier Diversified Holdings Inc.

[Parsad]

I could use some cannabis to deal with my 95% loss on this stock. And it was a 5% position....pretty painful.

 

That said, it was an unforced error, 100% my fault. The challenges PDH faced were pretty clear when I bought in.

 

I'm rationalizing it quite simply: I've gotten a lot more out of COBF, monetarily and otherwise, than  I've lost on PDH. And for that I'm still grateful to Parsad.

 

If this is the end game for you, then I apologize for your loss.  It isn't for us, and I have not sold a share, but continue to acquire more and more.  Put your shares away in a dark drawer and just don't look at them except every 5 years. 

 

And my recommendation, just as I have been doing, is average down as you can.  Those that bought Fairfax in 1999 at the peak, and continued to average in through the rough years, are far better off than someone who just bought and held. 

 

While I sympathize with those that have bought and held, like any investment, I could not and cannot predict the outcome in the short-term...all I can control is the long-term outcome, and it's still game on for me!  Cheers!

 

To clarify what I've said, I'm not suggesting that an investor buy, hold or sell PDH.  My comments were simply suggesting that if you are in for the long haul, watching what happens every day, week, month or year, may not be the best thing for you.  Nor am I even suggesting that PDH will be successful in the future...I cannot guarantee that.  My point was that I am in it for the long haul, I have been and will continue to average down, and our entire team is working hard to create shareholder value.  Cheers!   

[OracleofCarolina]

Would a rights offering be the cheapest/fairest way to raise capital? I don’t see many companies do rights offering and always wondered why????

 

[shalab]

Stock closes at one cent/share per Bloomberg

 

https://www.bloomberg.com/quote/PDH:CN

 

 

Would a rights offering be the cheapest/fairest way to raise capital? I don’t see many companies do rights offering and always wondered why????

[Partner24]

Any comment Sanjeev?

[wescobrk]

Today it was down 64%. Market cap of $400 thousand.

[shalab]

Ouch - that gotta hurt - may be bankruptcy filing imminent?

 

https://finance.yahoo.com/quote/PRDGF?p=PRDGF&.tsrc=fin-srch

 

Today it was down 64%. Market cap of $400 thousand.

[Parsad]

Ouch - that gotta hurt - may be bankruptcy filing imminent?

 

https://finance.yahoo.com/quote/PRDGF?p=PRDGF&.tsrc=fin-srch

 

Today it was down 64%. Market cap of $400 thousand.

 

We have positive working capital and no debt...why would we file bankruptcy?  In this mind-numbing scenario, after everything you know and understand about financial statements, how do you believe or even postulate that bankruptcy is imminent?

 

We also have investments in one real estate project that has broken ground and should be completed in the next 12 months (half of the 22 townhouse units are already presold), a clinic business that did over $1.4M in revenue last year and a telemedicine business that is operating in all Canadian provinces.  None of which we have any funding costs that we are responsible for.  You also have Zed Therapeutics coming online and Purposely which launches January...again, we have zero funding costs for Zed Therapeutics and minimal for Purposely.

 

The question shouldn't be is PDH going bankrupt, but are we going to see an acquisition soon?  On that front, all I can say is that I'm working my ass off!  Cheers!

[shalab]

Thanks Parsad for clarifying, many times the stocks are traded with insider info - though not everyone gets prosecuted for insider trading and I don't know what Canadian laws there are - if any for this? Wish you all the best!

 

Ouch - that gotta hurt - may be bankruptcy filing imminent?

 

https://finance.yahoo.com/quote/PRDGF?p=PRDGF&.tsrc=fin-srch

 

Today it was down 64%. Market cap of $400 thousand.

 

We have positive working capital and no debt...why would we file bankruptcy?  In this mind-numbing scenario, after everything you know and understand about financial statements, how do you believe or even postulate that bankruptcy is imminent?

 

We also have investments in one real estate project that has broken ground and should be completed in the next 12 months (half of the 22 townhouse units are already presold), a clinic business that did over $1.4M in revenue last year and a telemedicine business that is operating in all Canadian provinces.  None of which we have any funding costs that we are responsible for.  You also have Zed Therapeutics coming online and Purposely which launches January...again, we have zero funding costs for Zed Therapeutics and minimal for Purposely.

 

The question shouldn't be is PDH going bankrupt, but are we going to see an acquisition soon?  On that front, all I can say is that I'm working my ass off!  Cheers!

[Partner24]

The key issue to me is financial independance...free cash flows. In the past, you issued some shares in order to get financing, but now, that financing source is near zero.

 

[Spekulatius]

Ouch - that gotta hurt - may be bankruptcy filing imminent?

 

https://finance.yahoo.com/quote/PRDGF?p=PRDGF&.tsrc=fin-srch

 

Today it was down 64%. Market cap of $400 thousand.

 

We have positive working capital and no debt...why would we file bankruptcy?  In this mind-numbing scenario, after everything you know and understand about financial statements, how do you believe or even postulate that bankruptcy is imminent?

 

We also have investments in one real estate project that has broken ground and should be completed in the next 12 months (half of the 22 townhouse units are already presold), a clinic business that did over $1.4M in revenue last year and a telemedicine business that is operating in all Canadian provinces.  None of which we have any funding costs that we are responsible for.  You also have Zed Therapeutics coming online and Purposely which launches January...again, we have zero funding costs for Zed Therapeutics and minimal for Purposely.

 

The question shouldn't be is PDH going bankrupt, but are we going to see an acquisition soon?  On that front, all I can say is that I'm working my ass off!  Cheers!

 

You probably should take this company private. I don’t even know if I could trade a stock with so many leading zeros , even if I wanted to.

[nodnub]

Ouch - that gotta hurt - may be bankruptcy filing imminent?

 

https://finance.yahoo.com/quote/PRDGF?p=PRDGF&.tsrc=fin-srch

 

Today it was down 64%. Market cap of $400 thousand.

Shalab and Wescobrk. You both reference the price from the OTC ticker PRDGF, on a day with volume of 12,000 shares traded (total traded value $60).

 

Does that seem like reasonable data to base a comment on?

 

 

[Jurgis]

Let's get together and buy the company for $400 thousand.  8)

[bizaro86]

Somehow I doubt Parsad would sell his/MPIC shares at that price...

[Spekulatius]

Maybe some tax selling going on? Sometimes the benefit from realizing tax losses exceeds the current value of the shares for many investors a sale at any price or quasi zero may make  sense.

[wescobrk]

Just to be clear, I'm pulling for Sanjeev and hope it works out in the long run.

[ourkid8]

When is the next quarterly results being released?

[compoundinglife]

Looks like GOeVisit switched tech providers and is now using Bright.md's SmartExam platform

GOeVisit employs Bright.md's SmartExam platform to provide Canadians easy access to healthcare through their smart device

https://www.prnewswire.com/news-releases/goevisit-employs-brightmds-smartexam-platform-to-provide-canadians-easy-access-to-healthcare-through-their-smart-device-300680089.html

 

@compoundinglife Did you get the details of the convertible debentures?  I sent a note to Marta Davidson but I never heard back.

 

Apologies for the delay. I was re-reading the thread and had missed this the first time around. Marta eventually got back to me in May. She said "From what I know, MyCare has issued unsecured convertible debentures in the total principal amount of $990k, convertible until March 2019 at $0.35 / share."  Which seems odd to me. That would imply a conversion ratio 990K/0.35 which is more than current shares outstanding. On the other hand the MD&A says "In January 2018, MyCare entered into an investment agreement with a private corporation to provide up to $3M

gross proceeds pursuant to a private placement of units of MyCare, with each unit comprised of a senior unsecured

convertible debenture with a principal amount of $1,000 and 500 common share purchase warrants. MyCare closed

the first tranche of this financing in January 2018 for gross proceeds of $800,000."

 

So does that mean that the units MyCare sold to this entity are comprised of a convertible debenture and the warrants. Or does it mean that the convertible feature of the security is considered to be the warrants and the debentures themselves are non-convertible?

 

 

[shalab]

Hi - all,

 

Does any one know when PDH will release its quarterly reports next? I checked corner capital market site for their 2017 annual report (as now it is the end of 2018) and there is nothing there either. http://www.cornermarketcapital.com/annual-reports.html

 

May be Parsad or someone knowledgeable can update the status here

 

 

[CONeal]

Does anyone know of a site that displays all the current bids and ask and the shares available at those prices for PDH?

 

When we were on the CSE when you looked up the ticker on the CSE site it would show what the current bids and asks were and the amount of shares available at a particular price.  Have been looking for something similar,  not able to find it yet.

[John Hjorth]

Hi - all,

 

Does any one know when PDH will release its quarterly reports next? I checked corner capital market site for their 2017 annual report (as now it is the end of 2018) and there is nothing there either. http://www.cornermarketcapital.com/annual-reports.html

 

May be Parsad or someone knowledgeable can update the status here

 

shalab,

 

That's a page for financials of MPIC Fund I LP, not financials of PDH.

[shalab]

When I look at PDH, I look at both the company (PDH site) as well as MPIC Funds site. This is because MPIC Funds is the largest holder of PDH by far and the keeps PDH afloat by infusing capital. I don't believe (I could be wrong) that Sanjeev and Alnesh hold PDH in their personal portfolios.

 

Hi - all,

 

Does any one know when PDH will release its quarterly reports next? I checked corner capital market site for their 2017 annual report (as now it is the end of 2018) and there is nothing there either. http://www.cornermarketcapital.com/annual-reports.html

 

May be Parsad or someone knowledgeable can update the status here

 

shalab,

 

That's a page for financials of MPIC Fund I LP, not financials of PDH.

[gfp]

I don't think there are any free websites that provide "Level 2" data for TSX Venture that you are looking for.  Your best bet is through your broker or a paid service (there are a ton of paid services for market data).

 

Does anyone know of a site that displays all the current bids and ask and the shares available at those prices for PDH?

 

When we were on the CSE when you looked up the ticker on the CSE site it would show what the current bids and asks were and the amount of shares available at a particular price.  Have been looking for something similar,  not able to find it yet.

[John Hjorth]

When I look at PDH, I look at both the company (PDH site) as well as MPIC Funds site. This is because MPIC Funds is the largest holder of PDH by far and the keeps PDH afloat by infusing capital. I don't believe (I could be wrong) that Sanjeev and Alnesh hold PDH in their personal portfolios.

 

Please look up last Proxy Management Information Circular on SEDAR of March 6^th 2018, and you'll find on page 7, lower part:

 

... ( 8 )  Of which 429,000 Shares are held directly by Mr. Mohan.

( 9 ) Of which 250,000 Shares are held directly by Mr. Parsad. ...

[shalab]

Thanks for the eagle eyed research!

 

When I look at PDH, I look at both the company (PDH site) as well as MPIC Funds site. This is because MPIC Funds is the largest holder of PDH by far and the keeps PDH afloat by infusing capital. I don't believe (I could be wrong) that Sanjeev and Alnesh hold PDH in their personal portfolios.

 

Please look up last Proxy Management Information Circular on SEDAR of March 6^th 2018, and you'll find on page 7, lower part:

 

... ( 8 )  Of which 429,000 Shares are held directly by Mr. Mohan.

( 9 ) Of which 250,000 Shares are held directly by Mr. Parsad. ...

[CONeal]

Hi Sanjeev,

 

Can we get an update on when you plan to release a shareholder letter this year?  Last year it was released on the 29th, just wondering if we can look forward to one this week.  Also, any idea on when the financials will be released for the annual report.