$TRON 299M float + $100M Acquisition! Read the sto
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Posted On: 11/23/2018 5:48:16 PM
$TRON 299M float + $100M Acquisition! Read the story below, PR by PR, plus additional notes, sources and commentary.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING CORPORATE ACTIONS AND MERGER WITH IMEDSCAN CORPORATION
MIAMI BEACH, FLORIDA – March 1, 2016 - Toron, Inc (OTC Pink: TRON) provided its stockholders today with a corporate status regarding corporate actions and merger with iMedScan corporation.
In August 2016, the interim president Fabrizio Bosticco and others removed the Chief Financial Officer and Secretary Manuel Soberanes, CPA, in a unilateral action with the Nevada Secretary of State. Mr. Bosticco then caused 400,000,000 shares of common stock of the company to be issued
to Hudson BA, a Florida corporation for the merger with iMedScan. However, Hudson BA and Bosticco had no legal interest in iMedScan corporation and paid no consideration to Toron Inc. or iMedScan for these shares.
On December 29, 2016, Barton Hollow Trust appointed Rene Ortiz Morentin as the Chief Executive Officer and sole director of Toron, Inc. and removed Mr. Bosticco as the Chief Executive Officer of Toron Inc. and removed Adam Tracy as Director.
On December 30, 2016, the acquisition agreement with iMedScan was completed. iMedScan will operate as a wholly-owned subsidiary of Toron. Toron management is currently negotiating
several additional acquisitions.
On February 2, 2017, Toron Inc. requested and the transfer agent retired the shares of Toron Inc. to Hudson BA. On February 8, 2017, Toron issued 400,000,000 shares of common stock to Pantheon Partners, who was the lawful owner of iMedScan.
Pantheon Partners, a boutique investment banking firm, has been retained to complete a private placement for Ten Million Dollars ($10,000,000) to be utilized to fund the operations of iMedScan and to provide additional funds for pending business acquisitions.
On February 24, 2017, a Special Meeting of Shareholders was held regarding: 1) Adoption of the Restated Bylaws of the Corporation; and 2) Election of Director, Rene Ortiz Morentin. Both items were passed. On February 27, 2017, in Clark County District Court 7, the Motion to Discharge
Custodian and Enter Final Order was filed.
iMedScan is a healthcare project development and management company holding a proprietary technology that provides for the instant verification of a patient’s medical insurance. “iMedScan’s proprietary technology will generate a twenty-five percent (25%) reduction in patient insurance
rejections or denials from insurance payors,” Morentin said. He continued, “changes in the healthcare industry have considerably lowered profit margins and increase the costs of healthcare to consumers; we believe our technology will create significant cost reductions that will benefit
both insurers andinsureds.”
In March 2016, iMedScan entered into an agreement with Acuant Corporation of Los Angeles, California to employ its proprietary, hosted scanning solution on patient’s driver’s licenses and insurance cards. Most recently, in June, 2016, iMedScan finalized a test program with Change
America, formerly Emdeon Corporation, utilizing an electronic data interchange for verifying and validating patients’ health insurance. “We estimate a fifty percent (50%) net profit recapture from each medical office that adopts our technology,” Morentin noted. Currently, in addition to
traditional medical offices, iMedScan is focusing on the further development and commercialization of kiosk devices hosting the company’s scanning solution. Based upon the completion of the acquisition agreement with iMedScan and Toron, the marketing and roll-outplan of iMedScan will now be implemented.
About Toron, Inc. & iMedScan Corporation
On December 30, 2016, Toron, Inc. entered a definitive Agreement and Plan of Merger with iMedScan corporation, pursuant to which, upon closing, iMedScan became a wholly-owned subsidiary of Toron.
iMedScan Corporation is an innovative disruptive healthcare technology company focused on integrating access to electronic data interfaces (“EDI”) for healthcare providers and payor systems in a user-friendly manner.
iMedScan’s technology provides ease of use for patients by simplifying
their check-in registration process, while at the same time reducing the healthcare providers’ administrative expenses and lost revenues by eliminating insurance rejections, denials or any incorrect results arising from erroneous or incomplete patient information verification.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING CORPORATE ACTIONS
MIAMI BEACH, FLORIDA – March 3, 2017 - Toron, Inc (OTC Pink: TRON) provided its stockholders today with a corporate status regarding corporate actions.
Toron Management has elected not to proceed forward with a previously contemplated reverse stock split.
Rene Ortiz Morentin, President, stated “based upon the current business opportunities that are being considered, a reverse split would not be in the best interest of Toron and its shareholders”.
“We are pleased to announce the appointment of Appelrouth, Farah & Co. PA as our new accounting firm. “Appelrouth, Farah & Co. are PCAOB approved and are a welcome part of the Toron team of professionals” further added Mr. Morentin.
“We are well on our way to adding additional members to our Board of Directors, who will add vast professional and business experience as we embark upon our new path. This is a very exciting time for Toron.” Mr. Morentin added.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING IMEDSCAN ACQUISITION
MIAMI BEACH, FLORIDA – March 6, 2017 - Toron, Inc (OTC Pink: TRON) provided its stockholders today with a corporate status regarding corporate actions.
The acquisition of iMedScan Corporation has been completed. Attached as an exhibit to this release is a copy of the executed Purchase Agreement by and between Toron, Inc. and iMedScan Corporation, dated December 30, 2016.
Purchase Agreement:
https://backend.otcmarkets.com/otcapi/company...30/content
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING NEW BOARD OF DIRECTORS
MIAMI BEACH, FLORIDA – March 8, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update. “We are pleased to announce the addition of 2 new members that are joining Toron’s Board of Directors, Mr. Phillip Otero and Mr. Patrick Ryan.
Both gentlemen bring vast and extensive business experience and knowledge which will be help guide Toron into a new age and business direction” stated Rene Ortiz Morentin, President.
Tron’s Board of Directors is now composed of Mr. Phillip Otero, Mr. Patrick Ryan and Rene Ortiz
Morentin.
Mr. Otero brings with him an extensive business and financial experience base. Mr. Otero is currently the Managing Member of Catasana LLC, a private investment firm. Mr. Otero’s prior business experience includes: Senior Vice President for Alcentra (2003-2009); Senior Vice President for Oaktree Capital Management (1998-2003); Managing Director for Unifund SA (1996-1998); Managing Director for Peregrine Securities (1995-1996); Managing Director for Unifund SA (1992-1995); Vice President for Sutro & Co. (1990-1992); Vice President for The Davis Companies (1989-1992); and Vice President for Canadian Imperial Bank of Commerce(1987-1989). Mr. Otero received his MBA from UCLA The Anderson School of Management
1983 and a BS in Chemistry and Industrial Management from California State Polytechnic University-Pomona 1979. “I welcome the opportunity to work with Phil and the many business insights that he brings to Toron. His past business experience will be instrumental in our path to success as we continue to grow and add to the Toron business model”, stated Morentin.
Mr. Ryan brings with him over 20 years of management and operational experience in the healthcare arena, and particularly in the operation of hospitals. Mr. Ryan is currently the Chief Executive Officer of the William R. Sharpe Jr. Hospital in West Virginia, a 200 bed State psychiatric hospital that employs approximately 600 people (2015-Present). Prior, Mr. Ryan was
the Director Behavioral Medicine/Regional Director of Operations for Fairmont General Hospital/Fairmont Regional Medical Center in West Virginia (2008-2015); Director of Behavioral Health at Horizon Health Corporation-Camden Clark Memorial Hospital in Parkersburg, WV
(2006-2008); Director of Community Relations, Crisis Stabilization Unit Director and PD Case Management Director for United Summit Center-United Hospital Center in Clarksburg, WV (1997-Present); Intake and Assessment Director for Diamond Healthcare Corporation-St. Joseph
Hospital Behavioral Health (1995-1997); and Case Manager for Valley Comprehensive Community Mental Health Center (1993-1994). Mr. Ryan received his BA in Psychology and Sociology from Elon College 1989.
“Mr. Ryan will bring invaluable insights into the healthcare market and future acquisitions that we at Toron are currently reviewing. Mr. Ryan’s past
experience will help guide us and identify market opportunities” said Morentin.
Mr. Morentin has spent his entire business career in the investment banking, merchant banking and commercial banking fields. Mr. Morentin served as Director and Special Advisor to WeiChuan Food Corporation, the largest Taiwanese food manufacturer, focusing upon Concord Securities Taiwan and Wei-Chuan China (1998–1999) and served as U.S. Investment Advisory to Ta Yung Hsing Yeh Co., a $5 billion Taiwanese holding company (1997-1998). Prior to founding Pantheon, Mr. Morentin has served as Managing Director of The Kensington Group, a Los Angeles based investment banking firm; a Vice President of Manufacturers Bank (1992-
1994); Senior Vice President at Trafalgar Holdings, Ltd., a Los Angeles-based merchant bank specializing in mergers and acquisitions and off-shore project finance (1987-1989); Corporate and Institutional Services – Emerging Growth Group, Merrill Lynch (1985-1986); and with The
Bank of America in Corporate Banking (1981- 1983). Mr. Morentin received his MBA from the UCLA Anderson School of Management in 1983 and a B.S. in Finance from the University of Arizona in 1981. In June 2000, Mr. Morentin was awarded an honorary doctorate degree in international law from the “Academia Mexicana de Derechos Humanas” (The Mexican Academy of Human Rights). Mr. Morentin is a dual citizen of the United States and Mexico and is fluent in both English and Spanish.
Mr. Morentin added “Our Board of Directors is now postured to usher in a new corporate vision and pathway to success. It is a great day for Toron shareholders”.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – March 21, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
On February 24, 2017, a Special Meeting of Stockholders was held. The restated bylaws of Toron were approved and adopted. Additionally, at the Special Meeting Rene Ortiz Morentin was approved as Toron’s President and Director.
The Company has finalized the Due Diligence requirements for its new directors, Mr. Patrick Ryan and Mr. Phillip Otero. The new directors shall be updated in the next ten days.
The Company has retained the accounting firm of Appelrouth, Farah & Co., P.A. to audit the Company’s past 2 years of financial statements and to file a Form 10 with the Securities and Exchange Commission. The Form 10 filing will result in Toron being current in its SEC filings.
Mr. Morentin says the filings should demonstrate that the Company is moving forward aggressively with its new business plan. Additionally, such actions will aid in the $10 million Private Placement to launch iMedScan and for other potential corporate acquisitions.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI BEACH, FLORIDA – April 20, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
We are pleased to announce that the objection to the discharge of Adam Tracy as custodian for Toron by Hudson BA and Fabrizio Bosticco has been dropped. We anticipate that the Nevada court hearing on May 9, 2017 will result in Toron being an independent company without custodial oversight and place control of the company back into its shareholder’s hands.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI BEACH, FLORIDA – April 20, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Today the CEO, Rene Ortiz Morentin announces the Company has received confirmation that Hudson BA, a Florida corporation, and Fabrizio Bosticco, the former President of Toron Inc., See Attached Hereto, have demanded their counsel, Shawn Perez of Las Vegas, Nevada, file any motions necessary to dismiss the Interpleader Action in the matter of Toron Inc’ s case in Clark County Nevada and to withdrawal counsel immediately. The Company today is notifying its counsel to immediately notify the Court and move to have the final order removing Adam Tracy, Esquire and Barton Hollow, LLC as Custodian and request a final order terminating the Custodian Order from the Court.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI BEACH, FLORIDA – May 10, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron’s Chief Executive Officer, Rene Ortiz Morentin, announces the Company has received confirmation that the following was resolved by the Nevada’s Clark County Court:
(1) On May 2, 2017, Notice that Hudson BA and Fabrizio Bosticco’ s Interpleader to
Discharge Custodianship of Barton Hallow was withdrawn pursuant a Notice of Non-Opposition.
(2) On May 9, 2017, the Court Issued a final order that the Custodian, Barton Hallow and Adam Tracy was discharged.
(3) A Final Order Dismissing Custodian Order for the Company.
Mr. Ortiz Morentin is pleased to announce “Toron is now firmly in the hands of its shareholders and we look forward to executing our new business objectives and plans”.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – June 15, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron’s Chief Executive Officer, Rene Ortiz Morentin, announces that Toron has also successfully completed its first round of funding to empower the Company to begin implementation of its business plan.
On June 9, 2017, the Company was officially removed from custodianship from Barton Hallow, LLC and Adam Tracy pursuant to a Nevada District Court Order. On June 14, 2017, Custodian case was formally closed. Today, the Company updated its filing with the Secretary of State of
Nevada reflecting the removal of Mr. Tracy as a director and seating its new board of directors.
Additionally, the Company has filed an amendment of the articles of incorporation, with the board of director’s approval, with the Secretary of State of Nevada to reduce its total authorized shares of common stock from 2,500,000 to 1,000,000. Mr. Ortiz Morentin stated “I can see no reason to
support a dilution event for Toron shareholders”.
Toron is pleased to announce that we have secured new SEC counsel, Matheau J. W. Stout, Esq. of Baltimore, Maryland, http://www.otclawyers.com.
Toron, Inc. Provides Corporate Status Update
PR Newswire
MIAMI, Dec. 13, 2017
MIAMI, Dec. 13, 2017 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
We are pleased to announce that our vision to further enter the healthcare market has taken another step forward. Toron is proud to announce we have entered into a Letter of Intent to acquire InMed Group, Inc., a Montgomery, AL based operator of hospitals and senior care facilities ("InMed" . InMed operates 3 hospitals and 9 adult care facilities in Alabama and Georgia. For Fiscal Year Ending 31 December 2016, the group recorded Revenue of approximately $87 million and posted an EBIDTA of approximately $7.6 million.
InMed's corporate offices are located at 60 Commerce Street, #700 Montgomery, AL.
We entered into the Letter of Intent with InMed Group on 5 March 2017 and amended the Agreement on 13 June 2017 and 8 October 2017.
On 29 September 2017, Toron received a Letter of Intent for $11 million in equity from Flagship Properties, a New York based institution. We are currently negotiating with several financial institutions for the debt component to complete our acquisition financing.
President Ortiz Morentin stated "This acquisition demonstrates our resolve to bring value to all Toron shareholders and will serve as a clear example of the veracity of our iMedScan software. We fully intend to implement iMedScan software into all the operating units and expect that the insurance and patient collection process will be dramatically improved and hence, increase future cash flow from the acquisition."
About Toron, Inc: Toron Inc. is a publicly held Nevada corporation and is the owner of iMedScan Corp. iMedScan is an electronic data interface software for patient insurance verification. http://www.toroninc.com
About InMed Group, Inc. InMed is a privately held corporation which has been in business since 1994. The company owns and operates three (3) hospitals located in Alabama and Georgia. Additionally, it owns and manages surgery centers and adult assisted living facilities.
Toron, Inc. Provides Corporate Update On iMedScan
PR Newswire
MIAMI, Dec. 14, 2017
MIAMI, Dec. 14, 2017 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron, Inc.'s President Rene Ortiz Morentin announces that iMedScan Corp is negotiating an agreement to facilitate a Blockchain Application to manage iMedScan's HealthCare Technology Applications. Mr. Ortiz Morentin stated that iMedScan Blockchain technology will enable:
CONTRACT MANAGEMENT AND STORAGE
A document sharing platform that would facilitate the exchange and processing of confidential documents. The process will include an online portal/mobile application where users can login and securely upload sensitive documents to be shared with their clients. This platform will allow iMedScan to seamlessly add more clients to the network and start exchanging confidential documents with them using private and/or public keys. Specifically, the iMedScan application has two customer contract forms for recurring revenue, e.g. Acuant corporation cloud based contract and iMedScan contract for monthly recurring revenue contract which will be digitized in its blockchain application. iMedScan has a contract with various equipment leasing companies for the lease of the ATM machines at the healthcare facilities. The lease application, approval and funding can be facilitated in the blockchain digitized and confidential environment for the safety of the customer privacy and pertinent financial and credit information. iMedScan has contracts for insurance to insure the leased equipment. The blockchain application will provide direct insurance underwriting securely with the insurance carrier to bind the insurance through a digitized and automated process upon approval of the lease.
PATIENT RECORD PRIVACY
Technology has been falling behind on secure, immutable technologies to keep safe the most important information of all: identity. The healthcare industry has been suffering the most from this, receiving threats from hackers to destroy or alter digital identities. iMedScan will build its patient database using an immutable distributed ledger to keep digital identities out of the hands of anybody but the healthcare facility itself. iMedScan will be one of the few healthcare technology companies launching a secure and digitized application for the storage and distribution of healthcare related patient records and financial information.
ICO/TOKEN LAUNCH
iMedScan recognizes the necessity at this early stage of its release of its application of having a solid financial and legal infrastructure to facilitate a high level of growth. Mr. Ortiz Morentin stated the company feels blockchain technology is certainly the future of business in today's technology age and we are proud to facilitate this transition.
Lastly, iMedScan is in discussion of utilizing an ICO or potentially a Token Launch to raise additional funds for the company in order to adequately launch a marketing platform for its iMedScan application. The Company is revamping its website, http://www.imedscan.com, to reflect the blockchain technology and expects it will be released live in the first quarter of 2018.
UPDATE ON INMED GROUP, INC.
On October 27, 2017, the Company provided InMed Group with the required deposit to secure the Letter of Intent.
The Company has not engaged any Investor Relations group nor is the Company aware of any form of market awareness program to date. The Company monitors public bulletin boards to ensure, to the best of its ability, that there is no erroneous information disseminated.
TORON, INC. PROVIDES CORPORATE UPDATE ON IMEDSCAN
MIAMI, FLORIDA – 2 February 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron, Inc.’s President Rene Ortiz Morentin announces that the Depository Trust & Clearing Corporation (DTCC) approved Toron common stock for DWAC and FAST electronic delivery access. “We have cleared another hurdle in transforming Toron into a growing and thriving company as we prepare to expand our business horizons.”
Toron, Inc. Provides Corporate Update
PR Newswire
MIAMI, Feb. 12, 2018
MIAMI, Feb. 12, 2018 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron, Inc.'s President Rene Ortiz Morentin announces that the Depository Trust & Clearing Corporation (DTCC) approved Toron common stock for DWAC and FAST electronic delivery access. "We have cleared another hurdle in transforming Toron into a growing and thriving company as we prepare to expand our business horizons."
UPDATE ON INMED GROUP, INC. ACQUISITION
On 29 January 2018, Toron and InMed Group executed an Amendment to the Letter of Intent. "Both InMed's management team and we are working extremely hard and diligently to finalize the financing and acquisition," stated Mr. Ortiz Morentin. "A transaction of this type with multiple operating subsidiaries is complex and must be done carefully to avoid problems in the future. InMed's management is committed to providing us with all the material required to close this transaction," further stated Mr. Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – 16 March 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
"The accounting firm of Weinberg & Baer LLC was terminated in January 2018. The accounting firm did not prepare any financial statements for Toron, Inc." stated President Ortiz Morentin. We are currently finalizing the retention of new accountants for the Company.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – 27 March 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
“We are pressing forward to finalize our financing to complete our acquisition of the InMed Group. As we are approaching Easter and Semana Santa, we anticipate that our financing will be completed following this holiday season.” stated Rene Ortiz Morentin, President of Toron. “On March 13, 2017, we received the InMed Group December 31, 2017 financial statements, whichwas required by our lenders. These have been disseminated to our lenders and I have been talking diligently with several financial institutions to provide the needed financing to complete this
transaction and launch our corporate vision.” further stated Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – 27 April 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
“We are pleased to announce that Toron has received and executed a Financing Agreement which will enable us to move forward with vigor and focus to complete our acquisition of the InMed Group.” stated Rene Ortiz Morentin, President of Toron. This Agreement will enable Toron to complete its acquisition of InMed and provide the Company with working capital. Our new financial partner, an extremely well capitalized financial institution, with headquarters in Greenwich, Connecticut, and has expressed not only are they looking forward to closing Toron’s first acquisition but would like to serve as Toron’s financial partner moving forward as Toron looks to add additional healthcare facilities in a series of acquisitions.
“This has been a long and strenuous journey for our shareholders. There are no shortcuts in building a company with true lasting and meaningful value. We at long last will have a venue to showcase our iMedScan technology which can improve collections and cash flow for healthcare
professionals and facilities.” further stated Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – 1 May 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
“We are pleased to announce that Toron’s new financial partner is Continental Finance Corporation (“Continental”), an extremely well capitalized financial institution. Continental has over 25 years of experience in a multitude of business areas. Continental’s experience base will
complement ours. Continental has vast real estate experience, such will be invaluable as we acquire healthcare facilities and the underlying real estate.” stated Rene Ortiz Morentin, President of Toron. “We are now focused upon moving aggressively forward with the documentation to
finalize the InMed Group acquisition. Additionally, we are continuing our review the acquisition of additional healthcare facilities.” Further added Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – October 2, 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
On September 17, 2018 a fraudulent press release regarding the InMed Group transaction was issued through Newsfile in Toronto, Canada. We immediately took action and contacted Newsfile, OTC Markets and Toron’s legal counsel. Newsfile within hours retracted the release. We are
working with Newsfile to find the source of the fraudulent release. Rene Ortiz Morentin, Toron’s Chief Executive Officer, stated “We will investigate this heinous action to the fullest extent possible and we will not rest until we have found the source of the fraudulent press. We will prosecute the one’s responsible to the fullest extent of the law. Together with Newfile, we have
already made several discoveries. Perpetrators of falsehoods are never as stealthy as they believe.”
Diligent shareholders recognized that the phone number in the fraudulent release was not a valid Toron contact number. We thank you for your diligence.
We continue to work towards completing the InMed acquisition.
Toron’s and iMedScan websites have returned. We are working with our developers to complete the revamping of our websites.
Toron, Inc. (OTC:TRON) Provides Corporate Status Regarding Corporate Actions
PR Newswire
TUCSON, Ariz., Oct. 23, 2018
TUCSON, Ariz., Oct. 23, 2018 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provides its stockholders today with a corporate status regarding corporate actions.
"After our long and difficult road to finalize the complex documentation for the acquisition of The InMed Group, such was completed on October 10, 2018. Our acquisition was extremely complex given that we were acquiring numerous operating entities in 2 states and ensuring that all required permits and licenses remained intact. Our partner, Flagship Properties, has stood by our side during this process and we look forward to working with Flagship in the future," stated Rene Ortiz Morentin, Toron's Chief Executive Officer.
Under the terms of the transaction, Pantheon Partners SRL has agreed to transfer 100 Million shares of Toron, Inc. stock to Flagship Properties, LLC, and 100 Million shares of Toron, Inc. stock to InMed Group.
"Our transition team is poised to add efficiencies to the operations of The InMed Group to strengthen and grow cash flow. Moreover, we are negotiating with several financial institutions to provide Toron with a substantial operating line of credit to further add efficiencies for InMed operations and facilitate Toron's continued growth," further added Ortiz Morentin.
We are pleased to announce that Brad Eisemann, InMed's Chief Operating Officer, will be joining the Toron Board of Directors along with Rene Ortiz Morentin and Patrick Ryan. Mr. Eisemann has been with InMed for the past 15 years and has been key in developing and implementing new strategic revenue sources, creating sustainable change within healthcare facilities; enhancing medical management practices, and creating, evaluating and implementing strategically sound M&A opportunities. Mr. Eisemann has more than 10 years of experience as a Chief Executive Officer of healthcare facilities including hospitals and assisted living facilities. Mr. Eisemann served over 20 years in the U.S. Air Force and retired with honors as a Master Sergeant. Mr. Eisemann holds Bachelor of Science in Finance from Hawaii Pacific University in Honolulu, Hawaii.
"We will be finalizing our new board members in late November," stated Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – October 31, 2018 - Toron, Inc. (OTC Pink: TRON) provides its stockholders today with a corporate status update.
“We are pleased to announce that Toron has accepted and executed a Letter of Intent for a $10 million working capital facility from a privately held finance company specializing in financing healthcare providers in the United States. With this working capital facility in place, we can
implement our strategic plans for operations and we shall be poised to explore additional acquisition opportunities to add to our base of operations,” stated Rene Ortiz Morentin, Toron’s Chief Executive Officer.
Additionally, the Company has engaged Sterling Issuer Services to prepare and file with the Securities and Exchange Commission a Form 8-K.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE UPDATE
TUCSON, ARIZONA – November 19, 2018 - Toron, Inc. (OTC Pink: TRON) provides its stockholders today with a corporate update.
On November 14, 2018, Toron received a letter confirming our acquisition of the InMed Group. Jacques Jarry, Founder and Chief Executive Officer, stated “It is our pleasure to confirm our Agreements for the completion of the acquisition of The InMed Group, Inc. and its affiliated entities.” Mr. Jarry further added “As you are aware, there are necessary State and Federal
notifications required regarding the change in control for the InMed Group operating entities. This process can take 30-45 days, however, we anticipate such on approximately Dec 21st, 2018. We are pleased to become part of the Toron family and towards building a stronger and expanded healthcare network.”
After nearly 2 years of observing false, fraudulent and slanderous comments made on InvestorsHub.com from numerous participants, who hide behind anonymous names, we at Toron have decided to create a forum on our Toron webpage. This forum will provide factual and accurate responses to shareholder questions, in line with proper disclosure rules. As we move forward with our vision for healthcare expansion, we believe that we must be proactive in providing the public with accurate information and not the rantings of uninformed individuals with negative agendas.
We look forward to building stronger relationships with our investors who have been supportive of Toron.
Toron Website(Home Page): http://toroninc.com/
Toron Website(Forum Link): http://toroninc.com/forums/
Proof of Funding from Flagship:
https://twitter.com/rvom110/status/1057633512138846208
Proof of InMed Acquisition Finalization:
https://twitter.com/rvom110/status/1064526288835117056
iMedScan Website: https://imedscan.com/
PR Highlights(not including BOD info, removal of custodianship, addition/removal of accounting or legal services, etc):
“iMedScan’s proprietary technology will generate a twenty-five percent (25%) reduction in patient insurance rejections or denials from insurance payors,” Morentin said. He continued, “changes in the healthcare industry have considerably lowered profit margins and increase the costs of healthcare to consumers; we believe our technology will create significant cost reductions that will benefit both insurers and insureds.”
" iMedScan finalized a test program with Change America, formerly Emdeon Corporation, utilizing an electronic data interchange for verifying and
validating patients’ health insurance. “We estimate a fifty percent (50%) net profit recapture from each medical office that adopts our technology,” Morentin noted. Currently, in addition to traditional medical offices, iMedScan is focusing on the further development and commercialization of kiosk devices hosting the company’s scanning solution."
.....25% reduction + 50% recapture.....
"Toron Management has elected not to proceed forward with a previously contemplated reverse stock split.
Rene Ortiz Morentin, President, stated “based upon the current business opportunities that are being considered, a reverse split would not be in the best interest of Toron and its shareholders”."
"Additionally, the Company has filed an amendment of the articles of incorporation, with the board of director’s approval, with the Secretary of State of Nevada to reduce its total authorized shares of common stock from 2,500,000 to 1,000,000. Mr. Ortiz Morentin stated “I can see no reason to
support a dilution event for Toron shareholders”."
(Float has remained at 299M)
"After our long and difficult road to finalize the complex documentation for the acquisition of The InMed Group, such was completed on October 10, 2018. Our acquisition was extremely complex given that we were acquiring numerous operating entities in 2 states and ensuring that all required permits and licenses remained intact. Our partner, Flagship Properties, has stood by our side during this process and we look forward to working with Flagship in the future," stated Rene Ortiz Morentin, Toron's Chief Executive Officer.
Under the terms of the transaction, Pantheon Partners SRL has agreed to transfer 100 Million shares of Toron, Inc. stock to Flagship Properties, LLC, and 100 Million shares of Toron, Inc. stock to InMed Group.
"Our transition team is poised to add efficiencies to the operations of The InMed Group to strengthen and grow cash flow. Moreover, we are negotiating with several financial institutions to provide Toron with a substantial operating line of credit to further add efficiencies for InMed operations and facilitate Toron's continued growth," further added Ortiz Morentin."
"“We are pleased to announce that Toron has accepted and executed a Letter of Intent for a $10 million working capital facility from a privately held finance company specializing in financing healthcare providers in the United States. With this working capital facility in place, we can
implement our strategic plans for operations and we shall be poised to explore additional acquisition opportunities to add to our base of operations,” stated Rene Ortiz Morentin, Toron’s Chief Executive Officer.
Additionally, the Company has engaged Sterling Issuer Services to prepare and file with the Securities and Exchange Commission a Form 8-K."
"On November 14, 2018, Toron received a letter confirming our acquisition of the InMed Group. Jacques Jarry, Founder and Chief Executive Officer, stated “It is our pleasure to confirm our Agreements for the completion of the acquisition of The InMed Group, Inc. and its affiliated entities.” Mr. Jarry further added “As you are aware, there are necessary State and Federal
notifications required regarding the change in control for the InMed Group operating entities. This process can take 30-45 days, however, we anticipate such on approximately Dec 21st, 2018. We are pleased to become part of the Toron family and towards building a stronger and expanded healthcare network.”
299M float. (value estimated) $100M healthcare acquisition finalized. 8-k on the way. Board of Director integration from InMed, etc scheduled for late November. State and Federal paperwork for InMed/Toron deal anticipated to be transitioned on approximately 12/21/18. LOI accepted and executed for additional $10M working capital line of credit for operations and additional acquisitions (Note: estimated $100M InMed deal had LOI for $10.9M).
Please also see the following:
Once open, scroll to read John Reiner's "Ultimate DD" post:
http://toroninc.com/forums/topic/inmed-group-...quisition/
Also, make sure to take a look at MovingOn's updated checklist, posted prior by UnHuggy:
https://investorshangout.com/post/view?id=5268873
Spread the good news with fellow investors. Let a few others in on the investment as well, or at least the story line, so they can keep tabs on progress, allowing them to make entries should they so choose.
Congrats to Toron and all of the longs. This is a rare gem and it has been a long wait. I'm looking forward to the 8-k.
Read More: https://investorshangout.com/post/view?id=526...z5XiklG1Qb
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING CORPORATE ACTIONS AND MERGER WITH IMEDSCAN CORPORATION
MIAMI BEACH, FLORIDA – March 1, 2016 - Toron, Inc (OTC Pink: TRON) provided its stockholders today with a corporate status regarding corporate actions and merger with iMedScan corporation.
In August 2016, the interim president Fabrizio Bosticco and others removed the Chief Financial Officer and Secretary Manuel Soberanes, CPA, in a unilateral action with the Nevada Secretary of State. Mr. Bosticco then caused 400,000,000 shares of common stock of the company to be issued
to Hudson BA, a Florida corporation for the merger with iMedScan. However, Hudson BA and Bosticco had no legal interest in iMedScan corporation and paid no consideration to Toron Inc. or iMedScan for these shares.
On December 29, 2016, Barton Hollow Trust appointed Rene Ortiz Morentin as the Chief Executive Officer and sole director of Toron, Inc. and removed Mr. Bosticco as the Chief Executive Officer of Toron Inc. and removed Adam Tracy as Director.
On December 30, 2016, the acquisition agreement with iMedScan was completed. iMedScan will operate as a wholly-owned subsidiary of Toron. Toron management is currently negotiating
several additional acquisitions.
On February 2, 2017, Toron Inc. requested and the transfer agent retired the shares of Toron Inc. to Hudson BA. On February 8, 2017, Toron issued 400,000,000 shares of common stock to Pantheon Partners, who was the lawful owner of iMedScan.
Pantheon Partners, a boutique investment banking firm, has been retained to complete a private placement for Ten Million Dollars ($10,000,000) to be utilized to fund the operations of iMedScan and to provide additional funds for pending business acquisitions.
On February 24, 2017, a Special Meeting of Shareholders was held regarding: 1) Adoption of the Restated Bylaws of the Corporation; and 2) Election of Director, Rene Ortiz Morentin. Both items were passed. On February 27, 2017, in Clark County District Court 7, the Motion to Discharge
Custodian and Enter Final Order was filed.
iMedScan is a healthcare project development and management company holding a proprietary technology that provides for the instant verification of a patient’s medical insurance. “iMedScan’s proprietary technology will generate a twenty-five percent (25%) reduction in patient insurance
rejections or denials from insurance payors,” Morentin said. He continued, “changes in the healthcare industry have considerably lowered profit margins and increase the costs of healthcare to consumers; we believe our technology will create significant cost reductions that will benefit
both insurers andinsureds.”
In March 2016, iMedScan entered into an agreement with Acuant Corporation of Los Angeles, California to employ its proprietary, hosted scanning solution on patient’s driver’s licenses and insurance cards. Most recently, in June, 2016, iMedScan finalized a test program with Change
America, formerly Emdeon Corporation, utilizing an electronic data interchange for verifying and validating patients’ health insurance. “We estimate a fifty percent (50%) net profit recapture from each medical office that adopts our technology,” Morentin noted. Currently, in addition to
traditional medical offices, iMedScan is focusing on the further development and commercialization of kiosk devices hosting the company’s scanning solution. Based upon the completion of the acquisition agreement with iMedScan and Toron, the marketing and roll-outplan of iMedScan will now be implemented.
About Toron, Inc. & iMedScan Corporation
On December 30, 2016, Toron, Inc. entered a definitive Agreement and Plan of Merger with iMedScan corporation, pursuant to which, upon closing, iMedScan became a wholly-owned subsidiary of Toron.
iMedScan Corporation is an innovative disruptive healthcare technology company focused on integrating access to electronic data interfaces (“EDI”) for healthcare providers and payor systems in a user-friendly manner.
iMedScan’s technology provides ease of use for patients by simplifying
their check-in registration process, while at the same time reducing the healthcare providers’ administrative expenses and lost revenues by eliminating insurance rejections, denials or any incorrect results arising from erroneous or incomplete patient information verification.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING CORPORATE ACTIONS
MIAMI BEACH, FLORIDA – March 3, 2017 - Toron, Inc (OTC Pink: TRON) provided its stockholders today with a corporate status regarding corporate actions.
Toron Management has elected not to proceed forward with a previously contemplated reverse stock split.
Rene Ortiz Morentin, President, stated “based upon the current business opportunities that are being considered, a reverse split would not be in the best interest of Toron and its shareholders”.
“We are pleased to announce the appointment of Appelrouth, Farah & Co. PA as our new accounting firm. “Appelrouth, Farah & Co. are PCAOB approved and are a welcome part of the Toron team of professionals” further added Mr. Morentin.
“We are well on our way to adding additional members to our Board of Directors, who will add vast professional and business experience as we embark upon our new path. This is a very exciting time for Toron.” Mr. Morentin added.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING IMEDSCAN ACQUISITION
MIAMI BEACH, FLORIDA – March 6, 2017 - Toron, Inc (OTC Pink: TRON) provided its stockholders today with a corporate status regarding corporate actions.
The acquisition of iMedScan Corporation has been completed. Attached as an exhibit to this release is a copy of the executed Purchase Agreement by and between Toron, Inc. and iMedScan Corporation, dated December 30, 2016.
Purchase Agreement:
https://backend.otcmarkets.com/otcapi/company...30/content
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS REGARDING NEW BOARD OF DIRECTORS
MIAMI BEACH, FLORIDA – March 8, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update. “We are pleased to announce the addition of 2 new members that are joining Toron’s Board of Directors, Mr. Phillip Otero and Mr. Patrick Ryan.
Both gentlemen bring vast and extensive business experience and knowledge which will be help guide Toron into a new age and business direction” stated Rene Ortiz Morentin, President.
Tron’s Board of Directors is now composed of Mr. Phillip Otero, Mr. Patrick Ryan and Rene Ortiz
Morentin.
Mr. Otero brings with him an extensive business and financial experience base. Mr. Otero is currently the Managing Member of Catasana LLC, a private investment firm. Mr. Otero’s prior business experience includes: Senior Vice President for Alcentra (2003-2009); Senior Vice President for Oaktree Capital Management (1998-2003); Managing Director for Unifund SA (1996-1998); Managing Director for Peregrine Securities (1995-1996); Managing Director for Unifund SA (1992-1995); Vice President for Sutro & Co. (1990-1992); Vice President for The Davis Companies (1989-1992); and Vice President for Canadian Imperial Bank of Commerce(1987-1989). Mr. Otero received his MBA from UCLA The Anderson School of Management
1983 and a BS in Chemistry and Industrial Management from California State Polytechnic University-Pomona 1979. “I welcome the opportunity to work with Phil and the many business insights that he brings to Toron. His past business experience will be instrumental in our path to success as we continue to grow and add to the Toron business model”, stated Morentin.
Mr. Ryan brings with him over 20 years of management and operational experience in the healthcare arena, and particularly in the operation of hospitals. Mr. Ryan is currently the Chief Executive Officer of the William R. Sharpe Jr. Hospital in West Virginia, a 200 bed State psychiatric hospital that employs approximately 600 people (2015-Present). Prior, Mr. Ryan was
the Director Behavioral Medicine/Regional Director of Operations for Fairmont General Hospital/Fairmont Regional Medical Center in West Virginia (2008-2015); Director of Behavioral Health at Horizon Health Corporation-Camden Clark Memorial Hospital in Parkersburg, WV
(2006-2008); Director of Community Relations, Crisis Stabilization Unit Director and PD Case Management Director for United Summit Center-United Hospital Center in Clarksburg, WV (1997-Present); Intake and Assessment Director for Diamond Healthcare Corporation-St. Joseph
Hospital Behavioral Health (1995-1997); and Case Manager for Valley Comprehensive Community Mental Health Center (1993-1994). Mr. Ryan received his BA in Psychology and Sociology from Elon College 1989.
“Mr. Ryan will bring invaluable insights into the healthcare market and future acquisitions that we at Toron are currently reviewing. Mr. Ryan’s past
experience will help guide us and identify market opportunities” said Morentin.
Mr. Morentin has spent his entire business career in the investment banking, merchant banking and commercial banking fields. Mr. Morentin served as Director and Special Advisor to WeiChuan Food Corporation, the largest Taiwanese food manufacturer, focusing upon Concord Securities Taiwan and Wei-Chuan China (1998–1999) and served as U.S. Investment Advisory to Ta Yung Hsing Yeh Co., a $5 billion Taiwanese holding company (1997-1998). Prior to founding Pantheon, Mr. Morentin has served as Managing Director of The Kensington Group, a Los Angeles based investment banking firm; a Vice President of Manufacturers Bank (1992-
1994); Senior Vice President at Trafalgar Holdings, Ltd., a Los Angeles-based merchant bank specializing in mergers and acquisitions and off-shore project finance (1987-1989); Corporate and Institutional Services – Emerging Growth Group, Merrill Lynch (1985-1986); and with The
Bank of America in Corporate Banking (1981- 1983). Mr. Morentin received his MBA from the UCLA Anderson School of Management in 1983 and a B.S. in Finance from the University of Arizona in 1981. In June 2000, Mr. Morentin was awarded an honorary doctorate degree in international law from the “Academia Mexicana de Derechos Humanas” (The Mexican Academy of Human Rights). Mr. Morentin is a dual citizen of the United States and Mexico and is fluent in both English and Spanish.
Mr. Morentin added “Our Board of Directors is now postured to usher in a new corporate vision and pathway to success. It is a great day for Toron shareholders”.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – March 21, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
On February 24, 2017, a Special Meeting of Stockholders was held. The restated bylaws of Toron were approved and adopted. Additionally, at the Special Meeting Rene Ortiz Morentin was approved as Toron’s President and Director.
The Company has finalized the Due Diligence requirements for its new directors, Mr. Patrick Ryan and Mr. Phillip Otero. The new directors shall be updated in the next ten days.
The Company has retained the accounting firm of Appelrouth, Farah & Co., P.A. to audit the Company’s past 2 years of financial statements and to file a Form 10 with the Securities and Exchange Commission. The Form 10 filing will result in Toron being current in its SEC filings.
Mr. Morentin says the filings should demonstrate that the Company is moving forward aggressively with its new business plan. Additionally, such actions will aid in the $10 million Private Placement to launch iMedScan and for other potential corporate acquisitions.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI BEACH, FLORIDA – April 20, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
We are pleased to announce that the objection to the discharge of Adam Tracy as custodian for Toron by Hudson BA and Fabrizio Bosticco has been dropped. We anticipate that the Nevada court hearing on May 9, 2017 will result in Toron being an independent company without custodial oversight and place control of the company back into its shareholder’s hands.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI BEACH, FLORIDA – April 20, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Today the CEO, Rene Ortiz Morentin announces the Company has received confirmation that Hudson BA, a Florida corporation, and Fabrizio Bosticco, the former President of Toron Inc., See Attached Hereto, have demanded their counsel, Shawn Perez of Las Vegas, Nevada, file any motions necessary to dismiss the Interpleader Action in the matter of Toron Inc’ s case in Clark County Nevada and to withdrawal counsel immediately. The Company today is notifying its counsel to immediately notify the Court and move to have the final order removing Adam Tracy, Esquire and Barton Hollow, LLC as Custodian and request a final order terminating the Custodian Order from the Court.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI BEACH, FLORIDA – May 10, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron’s Chief Executive Officer, Rene Ortiz Morentin, announces the Company has received confirmation that the following was resolved by the Nevada’s Clark County Court:
(1) On May 2, 2017, Notice that Hudson BA and Fabrizio Bosticco’ s Interpleader to
Discharge Custodianship of Barton Hallow was withdrawn pursuant a Notice of Non-Opposition.
(2) On May 9, 2017, the Court Issued a final order that the Custodian, Barton Hallow and Adam Tracy was discharged.
(3) A Final Order Dismissing Custodian Order for the Company.
Mr. Ortiz Morentin is pleased to announce “Toron is now firmly in the hands of its shareholders and we look forward to executing our new business objectives and plans”.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – June 15, 2017 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron’s Chief Executive Officer, Rene Ortiz Morentin, announces that Toron has also successfully completed its first round of funding to empower the Company to begin implementation of its business plan.
On June 9, 2017, the Company was officially removed from custodianship from Barton Hallow, LLC and Adam Tracy pursuant to a Nevada District Court Order. On June 14, 2017, Custodian case was formally closed. Today, the Company updated its filing with the Secretary of State of
Nevada reflecting the removal of Mr. Tracy as a director and seating its new board of directors.
Additionally, the Company has filed an amendment of the articles of incorporation, with the board of director’s approval, with the Secretary of State of Nevada to reduce its total authorized shares of common stock from 2,500,000 to 1,000,000. Mr. Ortiz Morentin stated “I can see no reason to
support a dilution event for Toron shareholders”.
Toron is pleased to announce that we have secured new SEC counsel, Matheau J. W. Stout, Esq. of Baltimore, Maryland, http://www.otclawyers.com.
Toron, Inc. Provides Corporate Status Update
PR Newswire
MIAMI, Dec. 13, 2017
MIAMI, Dec. 13, 2017 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
We are pleased to announce that our vision to further enter the healthcare market has taken another step forward. Toron is proud to announce we have entered into a Letter of Intent to acquire InMed Group, Inc., a Montgomery, AL based operator of hospitals and senior care facilities ("InMed" . InMed operates 3 hospitals and 9 adult care facilities in Alabama and Georgia. For Fiscal Year Ending 31 December 2016, the group recorded Revenue of approximately $87 million and posted an EBIDTA of approximately $7.6 million.
InMed's corporate offices are located at 60 Commerce Street, #700 Montgomery, AL.
We entered into the Letter of Intent with InMed Group on 5 March 2017 and amended the Agreement on 13 June 2017 and 8 October 2017.
On 29 September 2017, Toron received a Letter of Intent for $11 million in equity from Flagship Properties, a New York based institution. We are currently negotiating with several financial institutions for the debt component to complete our acquisition financing.
President Ortiz Morentin stated "This acquisition demonstrates our resolve to bring value to all Toron shareholders and will serve as a clear example of the veracity of our iMedScan software. We fully intend to implement iMedScan software into all the operating units and expect that the insurance and patient collection process will be dramatically improved and hence, increase future cash flow from the acquisition."
About Toron, Inc: Toron Inc. is a publicly held Nevada corporation and is the owner of iMedScan Corp. iMedScan is an electronic data interface software for patient insurance verification. http://www.toroninc.com
About InMed Group, Inc. InMed is a privately held corporation which has been in business since 1994. The company owns and operates three (3) hospitals located in Alabama and Georgia. Additionally, it owns and manages surgery centers and adult assisted living facilities.
Toron, Inc. Provides Corporate Update On iMedScan
PR Newswire
MIAMI, Dec. 14, 2017
MIAMI, Dec. 14, 2017 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron, Inc.'s President Rene Ortiz Morentin announces that iMedScan Corp is negotiating an agreement to facilitate a Blockchain Application to manage iMedScan's HealthCare Technology Applications. Mr. Ortiz Morentin stated that iMedScan Blockchain technology will enable:
CONTRACT MANAGEMENT AND STORAGE
A document sharing platform that would facilitate the exchange and processing of confidential documents. The process will include an online portal/mobile application where users can login and securely upload sensitive documents to be shared with their clients. This platform will allow iMedScan to seamlessly add more clients to the network and start exchanging confidential documents with them using private and/or public keys. Specifically, the iMedScan application has two customer contract forms for recurring revenue, e.g. Acuant corporation cloud based contract and iMedScan contract for monthly recurring revenue contract which will be digitized in its blockchain application. iMedScan has a contract with various equipment leasing companies for the lease of the ATM machines at the healthcare facilities. The lease application, approval and funding can be facilitated in the blockchain digitized and confidential environment for the safety of the customer privacy and pertinent financial and credit information. iMedScan has contracts for insurance to insure the leased equipment. The blockchain application will provide direct insurance underwriting securely with the insurance carrier to bind the insurance through a digitized and automated process upon approval of the lease.
PATIENT RECORD PRIVACY
Technology has been falling behind on secure, immutable technologies to keep safe the most important information of all: identity. The healthcare industry has been suffering the most from this, receiving threats from hackers to destroy or alter digital identities. iMedScan will build its patient database using an immutable distributed ledger to keep digital identities out of the hands of anybody but the healthcare facility itself. iMedScan will be one of the few healthcare technology companies launching a secure and digitized application for the storage and distribution of healthcare related patient records and financial information.
ICO/TOKEN LAUNCH
iMedScan recognizes the necessity at this early stage of its release of its application of having a solid financial and legal infrastructure to facilitate a high level of growth. Mr. Ortiz Morentin stated the company feels blockchain technology is certainly the future of business in today's technology age and we are proud to facilitate this transition.
Lastly, iMedScan is in discussion of utilizing an ICO or potentially a Token Launch to raise additional funds for the company in order to adequately launch a marketing platform for its iMedScan application. The Company is revamping its website, http://www.imedscan.com, to reflect the blockchain technology and expects it will be released live in the first quarter of 2018.
UPDATE ON INMED GROUP, INC.
On October 27, 2017, the Company provided InMed Group with the required deposit to secure the Letter of Intent.
The Company has not engaged any Investor Relations group nor is the Company aware of any form of market awareness program to date. The Company monitors public bulletin boards to ensure, to the best of its ability, that there is no erroneous information disseminated.
TORON, INC. PROVIDES CORPORATE UPDATE ON IMEDSCAN
MIAMI, FLORIDA – 2 February 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron, Inc.’s President Rene Ortiz Morentin announces that the Depository Trust & Clearing Corporation (DTCC) approved Toron common stock for DWAC and FAST electronic delivery access. “We have cleared another hurdle in transforming Toron into a growing and thriving company as we prepare to expand our business horizons.”
Toron, Inc. Provides Corporate Update
PR Newswire
MIAMI, Feb. 12, 2018
MIAMI, Feb. 12, 2018 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
Toron, Inc.'s President Rene Ortiz Morentin announces that the Depository Trust & Clearing Corporation (DTCC) approved Toron common stock for DWAC and FAST electronic delivery access. "We have cleared another hurdle in transforming Toron into a growing and thriving company as we prepare to expand our business horizons."
UPDATE ON INMED GROUP, INC. ACQUISITION
On 29 January 2018, Toron and InMed Group executed an Amendment to the Letter of Intent. "Both InMed's management team and we are working extremely hard and diligently to finalize the financing and acquisition," stated Mr. Ortiz Morentin. "A transaction of this type with multiple operating subsidiaries is complex and must be done carefully to avoid problems in the future. InMed's management is committed to providing us with all the material required to close this transaction," further stated Mr. Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – 16 March 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
"The accounting firm of Weinberg & Baer LLC was terminated in January 2018. The accounting firm did not prepare any financial statements for Toron, Inc." stated President Ortiz Morentin. We are currently finalizing the retention of new accountants for the Company.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
MIAMI, FLORIDA – 27 March 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
“We are pressing forward to finalize our financing to complete our acquisition of the InMed Group. As we are approaching Easter and Semana Santa, we anticipate that our financing will be completed following this holiday season.” stated Rene Ortiz Morentin, President of Toron. “On March 13, 2017, we received the InMed Group December 31, 2017 financial statements, whichwas required by our lenders. These have been disseminated to our lenders and I have been talking diligently with several financial institutions to provide the needed financing to complete this
transaction and launch our corporate vision.” further stated Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – 27 April 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
“We are pleased to announce that Toron has received and executed a Financing Agreement which will enable us to move forward with vigor and focus to complete our acquisition of the InMed Group.” stated Rene Ortiz Morentin, President of Toron. This Agreement will enable Toron to complete its acquisition of InMed and provide the Company with working capital. Our new financial partner, an extremely well capitalized financial institution, with headquarters in Greenwich, Connecticut, and has expressed not only are they looking forward to closing Toron’s first acquisition but would like to serve as Toron’s financial partner moving forward as Toron looks to add additional healthcare facilities in a series of acquisitions.
“This has been a long and strenuous journey for our shareholders. There are no shortcuts in building a company with true lasting and meaningful value. We at long last will have a venue to showcase our iMedScan technology which can improve collections and cash flow for healthcare
professionals and facilities.” further stated Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – 1 May 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
“We are pleased to announce that Toron’s new financial partner is Continental Finance Corporation (“Continental”), an extremely well capitalized financial institution. Continental has over 25 years of experience in a multitude of business areas. Continental’s experience base will
complement ours. Continental has vast real estate experience, such will be invaluable as we acquire healthcare facilities and the underlying real estate.” stated Rene Ortiz Morentin, President of Toron. “We are now focused upon moving aggressively forward with the documentation to
finalize the InMed Group acquisition. Additionally, we are continuing our review the acquisition of additional healthcare facilities.” Further added Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – October 2, 2018 - Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update.
On September 17, 2018 a fraudulent press release regarding the InMed Group transaction was issued through Newsfile in Toronto, Canada. We immediately took action and contacted Newsfile, OTC Markets and Toron’s legal counsel. Newsfile within hours retracted the release. We are
working with Newsfile to find the source of the fraudulent release. Rene Ortiz Morentin, Toron’s Chief Executive Officer, stated “We will investigate this heinous action to the fullest extent possible and we will not rest until we have found the source of the fraudulent press. We will prosecute the one’s responsible to the fullest extent of the law. Together with Newfile, we have
already made several discoveries. Perpetrators of falsehoods are never as stealthy as they believe.”
Diligent shareholders recognized that the phone number in the fraudulent release was not a valid Toron contact number. We thank you for your diligence.
We continue to work towards completing the InMed acquisition.
Toron’s and iMedScan websites have returned. We are working with our developers to complete the revamping of our websites.
Toron, Inc. (OTC:TRON) Provides Corporate Status Regarding Corporate Actions
PR Newswire
TUCSON, Ariz., Oct. 23, 2018
TUCSON, Ariz., Oct. 23, 2018 /PRNewswire/ -- Toron, Inc. (OTC Pink: TRON) provides its stockholders today with a corporate status regarding corporate actions.
"After our long and difficult road to finalize the complex documentation for the acquisition of The InMed Group, such was completed on October 10, 2018. Our acquisition was extremely complex given that we were acquiring numerous operating entities in 2 states and ensuring that all required permits and licenses remained intact. Our partner, Flagship Properties, has stood by our side during this process and we look forward to working with Flagship in the future," stated Rene Ortiz Morentin, Toron's Chief Executive Officer.
Under the terms of the transaction, Pantheon Partners SRL has agreed to transfer 100 Million shares of Toron, Inc. stock to Flagship Properties, LLC, and 100 Million shares of Toron, Inc. stock to InMed Group.
"Our transition team is poised to add efficiencies to the operations of The InMed Group to strengthen and grow cash flow. Moreover, we are negotiating with several financial institutions to provide Toron with a substantial operating line of credit to further add efficiencies for InMed operations and facilitate Toron's continued growth," further added Ortiz Morentin.
We are pleased to announce that Brad Eisemann, InMed's Chief Operating Officer, will be joining the Toron Board of Directors along with Rene Ortiz Morentin and Patrick Ryan. Mr. Eisemann has been with InMed for the past 15 years and has been key in developing and implementing new strategic revenue sources, creating sustainable change within healthcare facilities; enhancing medical management practices, and creating, evaluating and implementing strategically sound M&A opportunities. Mr. Eisemann has more than 10 years of experience as a Chief Executive Officer of healthcare facilities including hospitals and assisted living facilities. Mr. Eisemann served over 20 years in the U.S. Air Force and retired with honors as a Master Sergeant. Mr. Eisemann holds Bachelor of Science in Finance from Hawaii Pacific University in Honolulu, Hawaii.
"We will be finalizing our new board members in late November," stated Ortiz Morentin.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE STATUS UPDATE
TUCSON, ARIZONA – October 31, 2018 - Toron, Inc. (OTC Pink: TRON) provides its stockholders today with a corporate status update.
“We are pleased to announce that Toron has accepted and executed a Letter of Intent for a $10 million working capital facility from a privately held finance company specializing in financing healthcare providers in the United States. With this working capital facility in place, we can
implement our strategic plans for operations and we shall be poised to explore additional acquisition opportunities to add to our base of operations,” stated Rene Ortiz Morentin, Toron’s Chief Executive Officer.
Additionally, the Company has engaged Sterling Issuer Services to prepare and file with the Securities and Exchange Commission a Form 8-K.
TORON, INC. (OTC:TRON) PROVIDES CORPORATE UPDATE
TUCSON, ARIZONA – November 19, 2018 - Toron, Inc. (OTC Pink: TRON) provides its stockholders today with a corporate update.
On November 14, 2018, Toron received a letter confirming our acquisition of the InMed Group. Jacques Jarry, Founder and Chief Executive Officer, stated “It is our pleasure to confirm our Agreements for the completion of the acquisition of The InMed Group, Inc. and its affiliated entities.” Mr. Jarry further added “As you are aware, there are necessary State and Federal
notifications required regarding the change in control for the InMed Group operating entities. This process can take 30-45 days, however, we anticipate such on approximately Dec 21st, 2018. We are pleased to become part of the Toron family and towards building a stronger and expanded healthcare network.”
After nearly 2 years of observing false, fraudulent and slanderous comments made on InvestorsHub.com from numerous participants, who hide behind anonymous names, we at Toron have decided to create a forum on our Toron webpage. This forum will provide factual and accurate responses to shareholder questions, in line with proper disclosure rules. As we move forward with our vision for healthcare expansion, we believe that we must be proactive in providing the public with accurate information and not the rantings of uninformed individuals with negative agendas.
We look forward to building stronger relationships with our investors who have been supportive of Toron.
Toron Website(Home Page): http://toroninc.com/
Toron Website(Forum Link): http://toroninc.com/forums/
Proof of Funding from Flagship:
https://twitter.com/rvom110/status/1057633512138846208
Proof of InMed Acquisition Finalization:
https://twitter.com/rvom110/status/1064526288835117056
iMedScan Website: https://imedscan.com/
PR Highlights(not including BOD info, removal of custodianship, addition/removal of accounting or legal services, etc):
“iMedScan’s proprietary technology will generate a twenty-five percent (25%) reduction in patient insurance rejections or denials from insurance payors,” Morentin said. He continued, “changes in the healthcare industry have considerably lowered profit margins and increase the costs of healthcare to consumers; we believe our technology will create significant cost reductions that will benefit both insurers and insureds.”
" iMedScan finalized a test program with Change America, formerly Emdeon Corporation, utilizing an electronic data interchange for verifying and
validating patients’ health insurance. “We estimate a fifty percent (50%) net profit recapture from each medical office that adopts our technology,” Morentin noted. Currently, in addition to traditional medical offices, iMedScan is focusing on the further development and commercialization of kiosk devices hosting the company’s scanning solution."
.....25% reduction + 50% recapture.....
"Toron Management has elected not to proceed forward with a previously contemplated reverse stock split.
Rene Ortiz Morentin, President, stated “based upon the current business opportunities that are being considered, a reverse split would not be in the best interest of Toron and its shareholders”."
"Additionally, the Company has filed an amendment of the articles of incorporation, with the board of director’s approval, with the Secretary of State of Nevada to reduce its total authorized shares of common stock from 2,500,000 to 1,000,000. Mr. Ortiz Morentin stated “I can see no reason to
support a dilution event for Toron shareholders”."
(Float has remained at 299M)
"After our long and difficult road to finalize the complex documentation for the acquisition of The InMed Group, such was completed on October 10, 2018. Our acquisition was extremely complex given that we were acquiring numerous operating entities in 2 states and ensuring that all required permits and licenses remained intact. Our partner, Flagship Properties, has stood by our side during this process and we look forward to working with Flagship in the future," stated Rene Ortiz Morentin, Toron's Chief Executive Officer.
Under the terms of the transaction, Pantheon Partners SRL has agreed to transfer 100 Million shares of Toron, Inc. stock to Flagship Properties, LLC, and 100 Million shares of Toron, Inc. stock to InMed Group.
"Our transition team is poised to add efficiencies to the operations of The InMed Group to strengthen and grow cash flow. Moreover, we are negotiating with several financial institutions to provide Toron with a substantial operating line of credit to further add efficiencies for InMed operations and facilitate Toron's continued growth," further added Ortiz Morentin."
"“We are pleased to announce that Toron has accepted and executed a Letter of Intent for a $10 million working capital facility from a privately held finance company specializing in financing healthcare providers in the United States. With this working capital facility in place, we can
implement our strategic plans for operations and we shall be poised to explore additional acquisition opportunities to add to our base of operations,” stated Rene Ortiz Morentin, Toron’s Chief Executive Officer.
Additionally, the Company has engaged Sterling Issuer Services to prepare and file with the Securities and Exchange Commission a Form 8-K."
"On November 14, 2018, Toron received a letter confirming our acquisition of the InMed Group. Jacques Jarry, Founder and Chief Executive Officer, stated “It is our pleasure to confirm our Agreements for the completion of the acquisition of The InMed Group, Inc. and its affiliated entities.” Mr. Jarry further added “As you are aware, there are necessary State and Federal
notifications required regarding the change in control for the InMed Group operating entities. This process can take 30-45 days, however, we anticipate such on approximately Dec 21st, 2018. We are pleased to become part of the Toron family and towards building a stronger and expanded healthcare network.”
299M float. (value estimated) $100M healthcare acquisition finalized. 8-k on the way. Board of Director integration from InMed, etc scheduled for late November. State and Federal paperwork for InMed/Toron deal anticipated to be transitioned on approximately 12/21/18. LOI accepted and executed for additional $10M working capital line of credit for operations and additional acquisitions (Note: estimated $100M InMed deal had LOI for $10.9M).
Please also see the following:
Once open, scroll to read John Reiner's "Ultimate DD" post:
http://toroninc.com/forums/topic/inmed-group-...quisition/
Also, make sure to take a look at MovingOn's updated checklist, posted prior by UnHuggy:
https://investorshangout.com/post/view?id=5268873
Spread the good news with fellow investors. Let a few others in on the investment as well, or at least the story line, so they can keep tabs on progress, allowing them to make entries should they so choose.
Congrats to Toron and all of the longs. This is a rare gem and it has been a long wait. I'm looking forward to the 8-k.
Read More: https://investorshangout.com/post/view?id=526...z5XiklG1Qb
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Do your own DD. Assume everyone here is either an amateur trader/investor or a paid interest such as a compensated pumper/basher. My posts are strictly for entertainment purposes. I am not on Wall St., do not work for a group, and only get paid when my personal investments materialize. I am only responsible for my own gains and losses; no one is to blame for my mistakes or for any advice taken from postings; likewise, I am not to blame for any advice you take of mine, regardless of gains or losses from doing so. Good luck to all; may you live long and prosper greatly.
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