benchmark Posted March 23, 2021 Share Posted March 23, 2021 CMCC and MPIC might be taking PDH Private it appears? Do they need to buy in the open market to make it happen? I thought that their existing ownership already enables them to do it if they want. Link to comment Share on other sites More sharing options...
lschmidt Posted March 23, 2021 Share Posted March 23, 2021 If they wanted to take it private, why distribute shares in lieu of cash to redeeming LPs? Link to comment Share on other sites More sharing options...
LC Posted March 23, 2021 Share Posted March 23, 2021 If they wanted to take it private, why distribute shares in lieu of cash to redeeming LPs? Moral fortitude? Link to comment Share on other sites More sharing options...
Spekulatius Posted March 23, 2021 Share Posted March 23, 2021 CMCC and MPIC might be taking PDH Private it appears? Do they need to buy in the open market to make it happen? I thought that their existing ownership already enables them to do it if they want. They just need to continue to do what they are doing -paying themselves with shares and issuing IOU's and PDH will be private over time. Link to comment Share on other sites More sharing options...
John Hjorth Posted March 23, 2021 Share Posted March 23, 2021 According to SEDAR filings, a debt settlement with MPIC has taken place on March 17th 2021 for USD 1,400,000 including accrued and unpaid interest, swapped for 64,199,016 new common PDH shares, after which MPIC owns [and has control or direction over] a total of 109,477,367 shares of the company, representing approximately 46.48% of the issued and oustanding shares. Link to comment Share on other sites More sharing options...
karthikpm Posted March 23, 2021 Share Posted March 23, 2021 anyone still hold shares from private offering ? I have not exchanged it since then Link to comment Share on other sites More sharing options...
benchmark Posted March 27, 2021 Share Posted March 27, 2021 According to SEDAR filings, a debt settlement with MPIC has taken place on March 17th 2021 for USD 1,400,000 including accrued and unpaid interest, swapped for 64,199,016 new common PDH shares, after which MPIC owns [and has control or direction over] a total of 109,477,367 shares of the company, representing approximately 46.48% of the issued and oustanding shares. That's a massive dilution, and with no ending in sight. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 18, 2021 Share Posted May 18, 2021 (edited) On 3/23/2021 at 5:34 AM, Spekulatius said: They just need to continue to do what they are doing -paying themselves with shares and issuing IOU's and PDH will be private over time. Well, the dilution did come at 3 cents per share, which was 50% higher than market price. As for paying the employees with stock options, 750,000 options expire on 12/4/21 and with an exercise price of 5 cents. The other 6,500,000 options expire on 12/4/25 and with an exercise price of 5 cents. The point here is that these option terms are terrible. IIRC, my MSFT employee stock option grants came with a 10 yr holding period (some may have been 7 yrs) AND the strike price was set at the lowest trade closing price of the prior 30 days. These PDH options were struck when the stock traded at 2 cents, and the strike is 5 cents. Edited May 18, 2021 by ERICOPOLY Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 18, 2021 Share Posted May 18, 2021 Also, the 7,700,000 warrants expire in less than 3 years and they also carry a 5 cent strike. Either they expire worthless or you have a 150% or greater gain (from here) to worry about. Link to comment Share on other sites More sharing options...
benchmark Posted May 18, 2021 Share Posted May 18, 2021 2 hours ago, ERICOPOLY said: Also, the 7,700,000 warrants expire in less than 3 years and they also carry a 5 cent strike. Either they expire worthless or you have a 150% or greater gain (from here) to worry about. If Sanjeev keeps doing high risk VC bets, PDH might run out of time in less than 3 years ... Link to comment Share on other sites More sharing options...
Spekulatius Posted May 18, 2021 Share Posted May 18, 2021 (edited) There are way better ways to make VC/ Angel investing bets than buying PDH shares. Ericopoly has a good point regarding the options, but that's little solace to shareholders here. In addition, a lot of straight shares are issued too here, unless I am misinterpreting the SEDAR filings. Edited May 18, 2021 by Spekulatius Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 18, 2021 Share Posted May 18, 2021 What do people understand about the tax assets at PDH? The significant components of the Company’s temporary differences, unused tax credits and unused tax losses that have not been included on the consolidated statement of financial position are as follows: Unrecognized deferred tax assets 5,449,000 Allowable capital losses: 9,732,000. (no expiry date) Non-capital losses available for future periods: Canada 13,232,000 (expires 2026-2040) US: 12,000 (expires 2036-indefinite) China: 262,000 (expires 262,000) Link to comment Share on other sites More sharing options...
OracleofCarolina Posted May 18, 2021 Share Posted May 18, 2021 Wonder when shareholders will get an update on the direction of the company? Is Zed Therapeutics still going public?? Goevisit or Purposely gaining any traction/revenue? Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 18, 2021 Share Posted May 18, 2021 (edited) 26 minutes ago, OracleofCarolina said: Wonder when shareholders will get an update on the direction of the company? Is Zed Therapeutics still going public?? The 2019 MPIC Annual Report stated that Zed is now controlled by a group of investors led by "the founder and former CEO of Brita Water Filters". The report explains that they are the ones that invested $7m into Zed in early 2019 in a capital raise that valued all of Zed at $18m. That capital raise valued each of PDH's Zed shares at 30 cents (acquired at 1/2 cent each). 60x return on $26k. It was explained that the Zed shares were a pro-rata issuance to PDH due to the initial $1.4m investment into MyCare. The founders of MyCare are also the founders of Zed. As to your question of whether it is still going public: from the MPIC Annual Report: "Their intention is to grow the business until they find a suitable offer from a suitable buyer". Where he says "their intention", he's talking about the investor group led by the Brita Filters guy. Edited May 18, 2021 by ERICOPOLY Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 18, 2021 Share Posted May 18, 2021 1 hour ago, OracleofCarolina said: Goevisit or Purposely gaining any traction/revenue? That is the million dollar question., isn't it? When Goevisit was raising capital in early 2020, the "income before taxes" projection was a bit in excess of $19m for year #2. What year is it now? It's year #2. PDH's share of that would be 30% of it. Link to comment Share on other sites More sharing options...
Spekulatius Posted May 19, 2021 Share Posted May 19, 2021 (edited) 2 hours ago, ERICOPOLY said: That is the million dollar question., isn't it? When Goevisit was raising capital in early 2020, the "income before taxes" projection was a bit in excess of $19m for year #2. What year is it now? It's year #2. PDH's share of that would be 30% of it. The chances that GoeVisit has $19M in EBITDA are basically nill. Website states “thousands of Canadian trust GoeVisit”. Now if they have only thousands of users than they won’t make $1M in revenue, much less $19M in EBITDA. Google app rating 3.3*, I don’t even think they have an iOS app at all. That indicates to me that this business is pretty embryonic. Edited May 19, 2021 by Spekulatius Link to comment Share on other sites More sharing options...
benchmark Posted May 19, 2021 Share Posted May 19, 2021 (edited) 3 hours ago, ERICOPOLY said: That is the million dollar question., isn't it? When Goevisit was raising capital in early 2020, the "income before taxes" projection was a bit in excess of $19m for year #2. What year is it now? It's year #2. PDH's share of that would be 30% of it. Any VC pitch/raise would have numbers that are way over optimistic -- and the best chance of Goevisit was last year, they should have sold the company. Edited May 19, 2021 by benchmark typo Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 19, 2021 Share Posted May 19, 2021 34 minutes ago, Spekulatius said: The chances that GoeVisit has $19M in EBITDA are basically nill. Website states “thousands of Canadian trust GoeVisit”. Now if they have only thousands of users than they won’t make $1M in revenue, much less $19M in EBITDA. Google app rating 3.3*, I don’t even think they have an iOS app at all. That indicates to me that this business is pretty embryonic. An annual individual subscription is $99.95. It would take 10,000 such subscriptions for $1M in revenue. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 19, 2021 Share Posted May 19, 2021 (edited) Okay, I dug out the source of the $19m projections for year #2: On March 18th, 2020, Sanjeev posted to this thread about closing a contract two weeks prior to onboard 1.1m members immediately: "About two weeks ago, we closed a contract with People Corp, which planned on onboarding their 1.1M insurance members over the next three years…in the last 24 hours, they’ve said that they want to onboard all 1.1M members immediately." The capital raise document was essentially forecasting about $20 of revenue annually from each of those 1.1m recently contracted members. Edited May 19, 2021 by ERICOPOLY Link to comment Share on other sites More sharing options...
rijk Posted May 19, 2021 Share Posted May 19, 2021 if this is people corp, not sure why goevisit isn't mentioned, but the competition is.... People Connect Total Health Our proprietary, end-to-end virtual health solution that includes People Connect – online mental health support, medical consultation, , and medication delivery. Plan members have access to People Connect, access telemedicine services through either one of our health partners, Akira Health or Maple – all from the comfort of home. Complementing this service is the addition of PocketPills, Canada’s first true digital pharmacy that provides free delivery of acute and maintenance medications and helps plan sponsors realize savings through lower markup and dispensing fees. https://www.peoplecorporation.com/products-and-solutions/health-solutions/ Link to comment Share on other sites More sharing options...
Spekulatius Posted May 19, 2021 Share Posted May 19, 2021 8 hours ago, benchmark said: Any VC pitch/raise would have numbers that are way over optimistic -- and the best chance of Goevisit was last year, they should have sold the company. Has anyone ever seen a startup making it’s numbers shown in projections? I guess those that do are the 1000 baggers. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 19, 2021 Share Posted May 19, 2021 2 hours ago, rijk said: if this is people corp, not sure why goevisit isn't mentioned, but the competition is.... People Connect Total Health Our proprietary, end-to-end virtual health solution that includes People Connect – online mental health support, medical consultation, , and medication delivery. Plan members have access to People Connect, access telemedicine services through either one of our health partners, Akira Health or Maple – all from the comfort of home. Complementing this service is the addition of PocketPills, Canada’s first true digital pharmacy that provides free delivery of acute and maintenance medications and helps plan sponsors realize savings through lower markup and dispensing fees. https://www.peoplecorporation.com/products-and-solutions/health-solutions/ The projected revenue from People Corp wasn't listed under the "B2B" category, but rather under another heading called "Integrated Solutions". Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 19, 2021 Share Posted May 19, 2021 It 11 hours ago, Spekulatius said: I don’t even think they have an iOS app at all. That indicates to me that this business is pretty embryonic. https://apps.apple.com/ca/app/goevisit-virtual-doctors/id1200879381 Link to comment Share on other sites More sharing options...
benchmark Posted May 19, 2021 Share Posted May 19, 2021 1 hour ago, ERICOPOLY said: It https://apps.apple.com/ca/app/goevisit-virtual-doctors/id1200879381 the app's last update was Nov. 2019 -- just shows that it's a dead app. Link to comment Share on other sites More sharing options...
ERICOPOLY Posted May 19, 2021 Share Posted May 19, 2021 1 hour ago, benchmark said: the app's last update was Nov. 2019 -- just shows that it's a dead app. Incidentally, I don't believe the app would play a role in "Integrated Solutions". Link to comment Share on other sites More sharing options...
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