$TRON PR Highlights and Company History, Funding a
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$TRON PR Highlights and Company History, Funding and Acquisition Confirmation, Revenues, Share Structure, Comparatives and Future Trajectory.
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.
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.
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 and insureds.”
Board of Directors and Leadership
“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.
(*Insertion: The information below will only include Mr. Ryan and CEO Morentin. It does not appear that Mr. Otero is still on board, at least if memory serves to be correct.)
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.
(*Notice once again the plural mentioning of future acquisitions, rather than acquisition in the singular form. iMedScan was completed at this point, and InMed not yet mentioned. With iMedScan in the rear view, and acquisitions in the plural form, as it is first mentioned to us in this release, InMed would then only be the first, and if that was all that was to be intended, acquisitions would have no "S" at the end. Moreover, future press releases and letters of confirmation, such as the hint in the Flagship confirmation, in which InMed acquisition funding was clearly stated as confirmed and provided for, with a forward-looking but very telling statement before the signature, referencing the intent and expectation for continued partnership between InMed and Toron.)
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.
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.
*As guesswork, and nothing more of a conclusive nature, it would not be surprising to see any combination of the following people join the board: Jacques Jarry, Vicki Lawrenson, H Wayne Hayes, Ronak Shah. This list of possibilities for seating goes far beyond this small roster of names, but these are the most visible at the current time.
Will the Company Undergo a Reverse Split, Dilution of the Float, or Similar?
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 2,500,000,000 to 1,000,000,000. Mr. Ortiz Morentin stated “I can see no reason to support a dilution event for Toron shareholders”.
*The float has remained at 299M shares since 2016, going on 3yrs now with no dilution. Toron took over the TRON ticker at that time and has been true to their word. The only R/S in the history of the ticker symbol was in 2011, prior to Toron or any member of its leadership taking over. So, no dilution of the float and no R/S. To date, promises have been kept.
Funding(for InMed and Beyond):
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.
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.
UPDATE ON INMED GROUP, INC.
On October 27, 2017, the Company provided InMed Group with the required deposit to secure the Letter of Intent.
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.
"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.”
*Below are letters of confirmation constructed and delivered by CEO Shah of Flagship(*financing) and CEO Jarry(*InMed/Acqusition).
https://twitter.com/rvom110/status/1057633512138846208
https://twitter.com/rvom110/status/1064526288835117056
Also, here is the confirmation of authorization of transfer of shares from Pantheon(belonging to Toron's CEO Morentin) to both Flagship and InMed. Take note that Toron did not issue 200M new shares, but instead, Toron's parent(of sorts) Pantheon, issued 100M of its personal 400M shares to InMed, and an additional 100M to Flagship, leaving Pantheon/CEO Morentin with 200M shares held instead of 400M. One would not give those away unless it lead to significant enough growth to at least double the value of Toron's price(or better). 400M shares at a price per share of .01 equates to $4M. To transfer 100M to InMed and another 100M to Flagship, would be a $2M giveaway. That is not done arbitrarily and without calculation of impact of person and corporate valuation, current and future. Sure, new shares could be issued in such a carefree manner, but personal equity would not be thrown into the wind on a whim.
https://twitter.com/rvom110/status/1067458809440792576
And for good measure, let's include some awesome DD by M000se as well:
$TRON Great find by M000se this morning. Please take a look if you have not already.
https://investorshub.advfn.com/boards/read_ms...=145712650
This lines up perfectly with pg 2 of InMed CEO, Jacques Jarry's letter of confirmation. Notice the 12/21/18 estimate.
https://twitter.com/rvom110/status/1064526288835117056
Here again it was mentioned on a Toron PR, with quotes from Jacques Jarry regarding the 12/21/18 estimate:
https://backend.otcmarkets.com/otcapi/company...18/content
And thanks to M000se, we see that the paperwork for dissolution of the company was received on 12/21/18, with an expected date of dissolution being 12/31/18. We should see transfer of state and federal licenses soon to follow. Everything is lining up.
Tracking of Shares:
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.”
*In simple terms, DWAC and FAST provides a way for the company to keep track of all shares electronically, rather than in certificate form, which as anyone could imagine, would be tedious, and due to changing hands of shares via trading, using the certificate form could even end up inaccurate depending on the speed of movement of buying and selling of the stock, plus would require manual work by brokerage rather than just running a program and having the certs all called in in the blink of an eye.
Revenues and Revenue Potential:
*This was posted a few days ago, and was sourced from MovingOn's due diligence and compiled alongside a few notes of my own.
$TRON MovingOn's Revenue DD and Year End Checklist - a must read!
The year end DD check list
InMed Deal confirmed and reconfirmed. The year started very slow but ended with a bang. 2019 will be very busy in the land of TRON.
1. LOI signed with InMed 03/2017
2. TRON approved for DWAC and FAST electronic delivery access 02/18
3. All Financial documents provided by InMed 03/18
4. Flagship provides financing - confirmed July, 2018.
5. Toron, IMedscan & InMed web-sites updated.
6. Purchase Agreements signed 08/07/18
7. Purchase Agreements Executed 10/10/18
8. Inmed deal confirmed in Corporate Update 10/23/18
9. InMed and Flagship each receive 100 Million shares.
10. $10 Million in working capital secured 10/31/18
11. Sterling Issuer Service hired to prepare and file an 8-K
12. 100 Million Shares Transferred to InMed 11/15/18
13. InMed confirms deal in a letter to Toron 11/19/18
14. CEO confirms plan to be a fully reporting company 11/20/18
15. 100 Million Shares Transferred to Flagship. 11/27/18
16. Confirmed Patrick Ryan joins the BOD in February 1st.
17. InMed dissolves their Services Company with State of AL effective 12/31/18.
In early 2019 we look forward to the 8-K. Also InMed is in the process of changing state licenses to Toron. Either of these two can happen at any time
Tron/InMed has $135 Million in Revenue. Confirmed by Medicare.(Sept. & Nov. 2018)
TRON/InMed Group owns 3 hospitals and 9 assisted living facilities.
The revenue from the Assisted Living facilities is estimated to be $43 Million per year.
The revenue from the hospitals is as follows.
Crenshaw Community Hospital $30,933,178.00
https://www.ahd.com/free_profile.php?hcfa_id=...dde8628a87
Bullock County Hospital $40,889,597.00
https://www.ahd.com/free_profile.php?hcfa_id=...18-000-917
Mountain Lakes Hospital $63,028,164.00
https://www.ahd.com/free_profile.php?hcfa_id=...2310fdb7e5
TRON/InMed's Assisted Living generates $43 Million per year. Each of these facilities have their own operating companies. Some of the locations have more than one operating company involved.
The $43 Million is an estimate of current revenues based on the following:
There are 8 (16) unit facilities. Each unit generates $33,600 per year. That is $5.3 Million per facility and $43 Million altogether. Here are links to the individual locations.
http://www.gardensofclanton.com
http://www.gardensofdaphne.com
http://www.gardensofeufaula.com
http://www.limestonelodgeal.com
http://www.limestonemanoral.com
http://www.gardensofmadison.com
http://www.gardensofpelham.com
http://www.gardensofwetumpka.com
They all operate under Great Oaks Management which is overseen by Brad at InMed.
Inmed's $10 Million per month in revenues are now flowing to TRON as InMed is being dissolved as a company. All we are really waiting for at this point is an 8-K and the government agencies to get everything updated. While we wait the revenues are flowing. There is no rush
When you are looking at $135 Million in revenues as we have here with InMed/TRON every 1% they can save on administrative costs drops $1.35 Million to the bottom line. At the end of the day TRON bought InMed so that they can cut costs and make the entities more efficient. That is why InMed wanted the 100 Million shares. They see the vision and want to share in the future profits.
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.”
InMed built the $42 Million Mountain Lakes Medical Center project. Toron owns InMed. The project includes the new hospital. The old hospital being renovated, the spa and the outpatient clinic. This was owned by InMed and TRON now owns InMed. Take a look.
https://www.healthcaredesignmagazine.com/proj...al-center/
Mountain Lakes Hospital has $63,028,164.00 in Revenues. This one we know is owned by InMed because they built it. The facility is part of a $42 Million project now owned by Toron through their InMed subsidiary.
https://www.ahd.com/free_profile/111336/Mount...on/Georgia
The goal is an uplisting "It is Toron’s intent to become a fully reporting company. We are currently finalizing our choice of auditors who will have no small task ahead of them, auditing Toron and its subsidiaries, iMedScan and The InMed Group. We will be instilling a stronger corporate vision internally. With this vision in mind, we have decided to file an 8K and should be doing so in short order." - TRON CEO
Thank you to MovingOn for the great DD and great contributions!
Additionally, here is a link to the $TRON news via OTCMarkets:
https://www.otcmarkets.com/stock/TRON/news
Finally, without fail, here are links to confirmation letters of the InMed deal. The first link is from CEO Shah(of Flagship), confirming the financing and declaring the intent for continued partnership. That is significant, given that Toron's CEO, Rene Ortiz Morentin, has mentioned in more than one soundbite, that InMed would be the first in a series of acquisitions. The second link is from CEO Jarry(of InMed), the acquired entity that Toron has now obtained thanks to financing from Flagship and great teamwork by the business powerhouses at Toron and InMed.
https://twitter.com/rvom110/status/1057633512138846208
https://twitter.com/rvom110/status/1064526288835117056
Happy New Year, Everyone! 2019 is Toron's Year.
PS Here is an extra $10M in financing("accepted AND executed" . They are now "poised to explore ADDITIONAL acquisition opportunities to add to our base of operations".
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.
Source:
https://backend.otcmarkets.com/otcapi/company...29/content
How Does Toron Stack Up Against Similar Healthcare Companies on the OTC?
Comparing $TRON and $RXMD:
This is just a brief comparative model for the potential of Toron, using another high-quality, fully-reporting, otc ticker as a parallel, given that the two have very similar share structures. This will not be a precise, pinpoint valuation, and will remain simplistic so as to paint a general picture for Toron shareholders in regarding to upcoming expectations.
TRON has a float of 299M and trades within range of .01, although has been currently walked down on extremely low volume; yesterday being an EOD walkdown on 25,000 shares at .0071(*yes, couch change). Toron has finalized a deal for an estimated $100M+ acquisition of 3 fully operating hospitals and 10 assisted living facilities spread out among 8 locations.
RXMD has a float of 334M and trades within range of .05 or .06, with bull runs going as high as .26. RXMD has current revenue of $20.1M annually, with a PR out today for another pharmacy acquisition that would place them at around $40-45M in annual revenue.
So, if RXMD sits at around .06(as of typing this) with $20.1M in revs, with expectations of $40-45M in revs, with a float of 334M, then one can see how dramatically undervalued Toron is, having just closed a $100M+ estimated acquisition, with only 299M shares in the float. Toron sits(as of typing this) at .0071, and has been frequently rising to .01+.
RXMD should have bull runs well beyond .26, seeing as they hit that marker off $20.1M revs against a 334M float and currently hold the .05-.06 range, no problem, with the current numbers.
Toron's CEO has mentioned an 8k is to drop regarding the acquisition, and within range of that, the company will become fully reporting. TRON again looks to be a $100M+ company against a 299M float, holding .0071-.01(on average) before the 8k.
Does Toron Plan to Uplist?
"It is Toron’s intent to become a fully reporting company. We are currently finalizing our choice of auditors who will have no small task ahead of them, auditing Toron and its subsidiaries, iMedScan and The InMed Group. We will be instilling a stronger corporate vision internally. With this vision in mind, we have decided to file an 8K and should be doing so in short order.
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.
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.
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 and insureds.”
Board of Directors and Leadership
“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.
(*Insertion: The information below will only include Mr. Ryan and CEO Morentin. It does not appear that Mr. Otero is still on board, at least if memory serves to be correct.)
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.
(*Notice once again the plural mentioning of future acquisitions, rather than acquisition in the singular form. iMedScan was completed at this point, and InMed not yet mentioned. With iMedScan in the rear view, and acquisitions in the plural form, as it is first mentioned to us in this release, InMed would then only be the first, and if that was all that was to be intended, acquisitions would have no "S" at the end. Moreover, future press releases and letters of confirmation, such as the hint in the Flagship confirmation, in which InMed acquisition funding was clearly stated as confirmed and provided for, with a forward-looking but very telling statement before the signature, referencing the intent and expectation for continued partnership between InMed and Toron.)
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.
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.
*As guesswork, and nothing more of a conclusive nature, it would not be surprising to see any combination of the following people join the board: Jacques Jarry, Vicki Lawrenson, H Wayne Hayes, Ronak Shah. This list of possibilities for seating goes far beyond this small roster of names, but these are the most visible at the current time.
Will the Company Undergo a Reverse Split, Dilution of the Float, or Similar?
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 2,500,000,000 to 1,000,000,000. Mr. Ortiz Morentin stated “I can see no reason to support a dilution event for Toron shareholders”.
*The float has remained at 299M shares since 2016, going on 3yrs now with no dilution. Toron took over the TRON ticker at that time and has been true to their word. The only R/S in the history of the ticker symbol was in 2011, prior to Toron or any member of its leadership taking over. So, no dilution of the float and no R/S. To date, promises have been kept.
Funding(for InMed and Beyond):
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.
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.
UPDATE ON INMED GROUP, INC.
On October 27, 2017, the Company provided InMed Group with the required deposit to secure the Letter of Intent.
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.
"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.”
*Below are letters of confirmation constructed and delivered by CEO Shah of Flagship(*financing) and CEO Jarry(*InMed/Acqusition).
https://twitter.com/rvom110/status/1057633512138846208
https://twitter.com/rvom110/status/1064526288835117056
Also, here is the confirmation of authorization of transfer of shares from Pantheon(belonging to Toron's CEO Morentin) to both Flagship and InMed. Take note that Toron did not issue 200M new shares, but instead, Toron's parent(of sorts) Pantheon, issued 100M of its personal 400M shares to InMed, and an additional 100M to Flagship, leaving Pantheon/CEO Morentin with 200M shares held instead of 400M. One would not give those away unless it lead to significant enough growth to at least double the value of Toron's price(or better). 400M shares at a price per share of .01 equates to $4M. To transfer 100M to InMed and another 100M to Flagship, would be a $2M giveaway. That is not done arbitrarily and without calculation of impact of person and corporate valuation, current and future. Sure, new shares could be issued in such a carefree manner, but personal equity would not be thrown into the wind on a whim.
https://twitter.com/rvom110/status/1067458809440792576
And for good measure, let's include some awesome DD by M000se as well:
$TRON Great find by M000se this morning. Please take a look if you have not already.
https://investorshub.advfn.com/boards/read_ms...=145712650
This lines up perfectly with pg 2 of InMed CEO, Jacques Jarry's letter of confirmation. Notice the 12/21/18 estimate.
https://twitter.com/rvom110/status/1064526288835117056
Here again it was mentioned on a Toron PR, with quotes from Jacques Jarry regarding the 12/21/18 estimate:
https://backend.otcmarkets.com/otcapi/company...18/content
And thanks to M000se, we see that the paperwork for dissolution of the company was received on 12/21/18, with an expected date of dissolution being 12/31/18. We should see transfer of state and federal licenses soon to follow. Everything is lining up.
Tracking of Shares:
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.”
*In simple terms, DWAC and FAST provides a way for the company to keep track of all shares electronically, rather than in certificate form, which as anyone could imagine, would be tedious, and due to changing hands of shares via trading, using the certificate form could even end up inaccurate depending on the speed of movement of buying and selling of the stock, plus would require manual work by brokerage rather than just running a program and having the certs all called in in the blink of an eye.
Revenues and Revenue Potential:
*This was posted a few days ago, and was sourced from MovingOn's due diligence and compiled alongside a few notes of my own.
$TRON MovingOn's Revenue DD and Year End Checklist - a must read!
The year end DD check list
InMed Deal confirmed and reconfirmed. The year started very slow but ended with a bang. 2019 will be very busy in the land of TRON.
1. LOI signed with InMed 03/2017
2. TRON approved for DWAC and FAST electronic delivery access 02/18
3. All Financial documents provided by InMed 03/18
4. Flagship provides financing - confirmed July, 2018.
5. Toron, IMedscan & InMed web-sites updated.
6. Purchase Agreements signed 08/07/18
7. Purchase Agreements Executed 10/10/18
8. Inmed deal confirmed in Corporate Update 10/23/18
9. InMed and Flagship each receive 100 Million shares.
10. $10 Million in working capital secured 10/31/18
11. Sterling Issuer Service hired to prepare and file an 8-K
12. 100 Million Shares Transferred to InMed 11/15/18
13. InMed confirms deal in a letter to Toron 11/19/18
14. CEO confirms plan to be a fully reporting company 11/20/18
15. 100 Million Shares Transferred to Flagship. 11/27/18
16. Confirmed Patrick Ryan joins the BOD in February 1st.
17. InMed dissolves their Services Company with State of AL effective 12/31/18.
In early 2019 we look forward to the 8-K. Also InMed is in the process of changing state licenses to Toron. Either of these two can happen at any time
Tron/InMed has $135 Million in Revenue. Confirmed by Medicare.(Sept. & Nov. 2018)
TRON/InMed Group owns 3 hospitals and 9 assisted living facilities.
The revenue from the Assisted Living facilities is estimated to be $43 Million per year.
The revenue from the hospitals is as follows.
Crenshaw Community Hospital $30,933,178.00
https://www.ahd.com/free_profile.php?hcfa_id=...dde8628a87
Bullock County Hospital $40,889,597.00
https://www.ahd.com/free_profile.php?hcfa_id=...18-000-917
Mountain Lakes Hospital $63,028,164.00
https://www.ahd.com/free_profile.php?hcfa_id=...2310fdb7e5
TRON/InMed's Assisted Living generates $43 Million per year. Each of these facilities have their own operating companies. Some of the locations have more than one operating company involved.
The $43 Million is an estimate of current revenues based on the following:
There are 8 (16) unit facilities. Each unit generates $33,600 per year. That is $5.3 Million per facility and $43 Million altogether. Here are links to the individual locations.
http://www.gardensofclanton.com
http://www.gardensofdaphne.com
http://www.gardensofeufaula.com
http://www.limestonelodgeal.com
http://www.limestonemanoral.com
http://www.gardensofmadison.com
http://www.gardensofpelham.com
http://www.gardensofwetumpka.com
They all operate under Great Oaks Management which is overseen by Brad at InMed.
Inmed's $10 Million per month in revenues are now flowing to TRON as InMed is being dissolved as a company. All we are really waiting for at this point is an 8-K and the government agencies to get everything updated. While we wait the revenues are flowing. There is no rush
When you are looking at $135 Million in revenues as we have here with InMed/TRON every 1% they can save on administrative costs drops $1.35 Million to the bottom line. At the end of the day TRON bought InMed so that they can cut costs and make the entities more efficient. That is why InMed wanted the 100 Million shares. They see the vision and want to share in the future profits.
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.”
InMed built the $42 Million Mountain Lakes Medical Center project. Toron owns InMed. The project includes the new hospital. The old hospital being renovated, the spa and the outpatient clinic. This was owned by InMed and TRON now owns InMed. Take a look.
https://www.healthcaredesignmagazine.com/proj...al-center/
Mountain Lakes Hospital has $63,028,164.00 in Revenues. This one we know is owned by InMed because they built it. The facility is part of a $42 Million project now owned by Toron through their InMed subsidiary.
https://www.ahd.com/free_profile/111336/Mount...on/Georgia
The goal is an uplisting "It is Toron’s intent to become a fully reporting company. We are currently finalizing our choice of auditors who will have no small task ahead of them, auditing Toron and its subsidiaries, iMedScan and The InMed Group. We will be instilling a stronger corporate vision internally. With this vision in mind, we have decided to file an 8K and should be doing so in short order." - TRON CEO
Thank you to MovingOn for the great DD and great contributions!
Additionally, here is a link to the $TRON news via OTCMarkets:
https://www.otcmarkets.com/stock/TRON/news
Finally, without fail, here are links to confirmation letters of the InMed deal. The first link is from CEO Shah(of Flagship), confirming the financing and declaring the intent for continued partnership. That is significant, given that Toron's CEO, Rene Ortiz Morentin, has mentioned in more than one soundbite, that InMed would be the first in a series of acquisitions. The second link is from CEO Jarry(of InMed), the acquired entity that Toron has now obtained thanks to financing from Flagship and great teamwork by the business powerhouses at Toron and InMed.
https://twitter.com/rvom110/status/1057633512138846208
https://twitter.com/rvom110/status/1064526288835117056
Happy New Year, Everyone! 2019 is Toron's Year.
PS Here is an extra $10M in financing("accepted AND executed" . They are now "poised to explore ADDITIONAL acquisition opportunities to add to our base of operations".
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.
Source:
https://backend.otcmarkets.com/otcapi/company...29/content
How Does Toron Stack Up Against Similar Healthcare Companies on the OTC?
Comparing $TRON and $RXMD:
This is just a brief comparative model for the potential of Toron, using another high-quality, fully-reporting, otc ticker as a parallel, given that the two have very similar share structures. This will not be a precise, pinpoint valuation, and will remain simplistic so as to paint a general picture for Toron shareholders in regarding to upcoming expectations.
TRON has a float of 299M and trades within range of .01, although has been currently walked down on extremely low volume; yesterday being an EOD walkdown on 25,000 shares at .0071(*yes, couch change). Toron has finalized a deal for an estimated $100M+ acquisition of 3 fully operating hospitals and 10 assisted living facilities spread out among 8 locations.
RXMD has a float of 334M and trades within range of .05 or .06, with bull runs going as high as .26. RXMD has current revenue of $20.1M annually, with a PR out today for another pharmacy acquisition that would place them at around $40-45M in annual revenue.
So, if RXMD sits at around .06(as of typing this) with $20.1M in revs, with expectations of $40-45M in revs, with a float of 334M, then one can see how dramatically undervalued Toron is, having just closed a $100M+ estimated acquisition, with only 299M shares in the float. Toron sits(as of typing this) at .0071, and has been frequently rising to .01+.
RXMD should have bull runs well beyond .26, seeing as they hit that marker off $20.1M revs against a 334M float and currently hold the .05-.06 range, no problem, with the current numbers.
Toron's CEO has mentioned an 8k is to drop regarding the acquisition, and within range of that, the company will become fully reporting. TRON again looks to be a $100M+ company against a 299M float, holding .0071-.01(on average) before the 8k.
Does Toron Plan to Uplist?
"It is Toron’s intent to become a fully reporting company. We are currently finalizing our choice of auditors who will have no small task ahead of them, auditing Toron and its subsidiaries, iMedScan and The InMed Group. We will be instilling a stronger corporate vision internally. With this vision in mind, we have decided to file an 8K and should be doing so in short order.
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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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