John_Vallay
1 year ago
I just read that Clearday is giving up their businesses. the CEO bragged about how he was going to make money with Memory Care and all the other senior living centers, but now he is walking away from the leases. According to some recent press releases he is going into the robotics business. But he doesn't have engineers or R&D and based on some really poorly written press releases it looks as if he will be a salesman for another company that is manufacturing robots.
Clearday does not own the technology or patents, and unless I am wrong, they are strictly a sales force.
The CEO failed 100% at the business, the balance sheet is a disaster, and they have those financing deals thata re high interest or convertible to stock at 50% discount to market. Has this guy ever turned a profit or is he in the business of losses and tax right offs. What an embarrassment.
And then some crazy deal with a nasdaq company that is or was a SPAC. Are the people at the SPAC out of their minds. What the heck is going on? has the entire world lost any sense of business 101, profitability or common sense business deals.
I will leave it off with this - I haven't looked at CLRD in a few months and I read the latest 10K and some press releases and maybe I am going crazy bit who in their right mind would want to give money to Clearday and the management team that has NEVER EVER turned a profit.
John_Vallay
2 years ago
Do you think low 50's is a good investment
if you think low 50's is a good investment I 100% disagree
Clearday has so many toxic financings on their balance sheet that they can not afford the debt payments which means the debt will convert to common stock.
For example the last toxic financing they did was for $172,000 at 22% interest.
if they do not make the monthly payment on that one loan alone, the debt converts to stock at a 25% discount to market.
That means every month the debt holder will get shares equal to 5% of the debt at a 25% discount to market. The debt holder can sell those shares on the open market at a lower price than the market, and still make money.
The issuance of shares will continue because Clearday doesn;t have the money to make the debt payments. CLRD stock will be 1 penny by the end of the year.
If you think this so called SPAC is going to work out you are delusional because the SPAC shareholders are not going to accept a deal with Clearday because Clearday management doesn't know how to run a profitable business. The other reason the deal is unlikely to close is because the SPAC company, upon closing, will have to pay all the debt that Clearday has.
If by some crazy reason I am wrong and the deal gets closed, CLRD shareholders are probably going to get about 5% of the new public company. So that means if you own 1,000 shares of CLRD, you will probably end up owning 50 shares of the new public company. The 5% is a guess because I had to come up with a number, but I can not see CLRD shareholders getting more than that.
But a closing is very unlikely because Clearday's last 10Q was so bad I am not sure how they are staying in business.
The balance sheet had ZERO in cash.
$58 million in debt.
They lost $105 million for first 9-months of last year.
I don't even know how many toxic loans they have and we all know that drives a stock to 001 a share once the conversions start happening.
So if you think 50's is good, I would agree with you. it's good to short because it is guaranteed to go to 001.
But I guess logic and smart investing is out the door.
ANTI-BAGHOLDER
2 years ago
Looks like this was CLRD plan all along.
Clearday Retains ClearThink Capital to Explore Unlocking Value with SPACs
Press Release | 01/26/2023
San Antonio, Texas, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Clearday, Inc. (OTCQX: CLRD), the “Company” or “Clearday” or “we”, retained ClearThink Capital LLC, a boutique investment and transactional advisory firm, to support Clearday’s strategy to explore transactions to unlock the value of its innovative care businesses through a deSPAC transaction.
ClearThink has a team of seasoned finance, investment banking, law, marketing, technology, medical, life science, and operations professionals with extensive experience in structuring and executing, and advising with respect to a range of transactions, including providing guidance to companies engaged in transactions with Special Purpose Acquisition Corporations (SPACs) – a deSPAC, which is one of transaction structures that Clearday believes would unlock the value of its innovative care businesses such as robotic service and digital services.
https://www.otcmarkets.com/stock/CLRD/news/Clearday-Retains-ClearThink-Capital-to-Explore-Unlocking-Value-with-SPACs?id=387784
ANTI-BAGHOLDER
2 years ago
Transaction Overview
Under the terms of the letter of intent, Clearday’s existing equity holders would convert 100% of their equity into the combined public company. The proposed transaction values Clearday at $250 million. Viveon expects to announce additional details regarding the proposed business combination when a definitive merger agreement is executed.
Completion of a business combination with Clearday is subject to, among other matters, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, satisfaction of the conditions negotiated therein and approval of the transaction by the board and stockholders of both Viveon and Clearday. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms or timeframe currently contemplated, or at all.