Hi
I copyed this from the Fonar thread.
I received this EMail last night from a friend and long time Fonar stockholder. Thought I'd pass it on, with his permission, for whatever insights you can lend to his story.
Jim, feel free to share this with whomever you'd like--
Everytime I log onto the SI thread, I see the message at the top of the screen stating that Fonar has just made it back to $3.00. 14 months later and with the GE cash in the bank, Fonar has again made it back to $3.00. Just remember, Fonar is always about tomorrow, never about today. A few guesses from my perch in anonimity. I'll bet all my Fonar Preferred, my Fonar Warrants, and my Fonar dividends (provided I ever see them) that, HMC will buy/manage all of the RVDC scanner sites. 25-30 of them as I remember. Scattered about NY and FL. What a coincidence, that HMC will concentrate in those two states. Ever notice how much money that RVDC owes Fonar? And that was what, $5-6 million in arrears to Fonar as of last year? Arrears, as in late, overdue. I have to therefore assume that RVDC was unprofitable. Will Fonar buy RVDC? Manage, maybe that's OK; buy, maybe not so good. Sure, they'll get some new management in but it won't be at the top. Start with the Board of Directors and work your way down the line. Look at their qualifications. Fonar will buy a couple of related businesses in all liklihood too. Probably use shares of stock to do so. That investment banker is probably real busy, figuring this mess out.
Do you know where the 350 employee figure came from, when in fact Fonar only had 175 or so back in Sept.? They counted the RVDC employees. Might as well, I guess.
Notice who is a limited partner in the RVDC's Orlando center? The one that Damadian MRI announced in a major alliance with MIOA. TD, the new Pres. of HMC. FL, TD, HMC, RVDC, FONR Is there something there? Sure is. What tangled webs, we weave.
Ever put together what happened back in January when Fonar purchased that company that held three scanners as it's only asset? Remember? Finova the finance company re-acquired a scanner from W. Palm Beach MRI, and assigned the lease to Melville Holding. Fonar then purchased Melville Holding. in effect purchasing the three scanners. Owner of WPB MRI is Dr. Damadian. How does a finance company re-acquire a scanner? Two ways that I know of- 1) the lease expires 2) the lessee is in default. Can't assign a lease that has expired, so that leaves me with 2). Further evidence of RVDCs financial position?
I'm tired of the fight. Tired of the Shareholder suit, the RVDC dealings, the talk of NMS listing, the lack of sales, the shareholder dilution, the next whatever great tech thing that will propel them forward. Tired of the rumors of big things, which never quite pan out. Tired of the Defenders always taking the company line, playing loose with the facts as they get their allocated tidbits of info. It's always just around the corner. Just out of reach. You can smell it, you can almost touch it, and poof it's gone. But something else always takes its place. And on and on we go. And of course, you want to believe, it's a great story. Patience, they will say, now we have the money, wait and see. I will be patient; from the sidelines.
Another disgruntled shareholder? Not really, I made lots of money with Fonar. Could have made more too, if the company had only cooperated a little. Disappointed, would be a better description. Good thing they never hold a Stockholders meeting; things could get a little touchy.
Remember-- There are no good stocks....they are all bad. -- Peter Lynch
what do you make of it?
Arnie
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