$TRON There are a couple of interesting pointers t
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Posted On: 01/11/2019 10:17:24 AM
$TRON There are a couple of interesting pointers tilting in the direction of future acquisitions, aside from those assertions by CEO Morentin in press releases.
For those just getting eyes on this, if you go through the DD packets and/or press releases, you will see the mention of "a series of acquisitions" or "first in a series of acquisitions". Let's pick apart some additional soundbites, and we'll throw a clip of two from CEO Morentin in along the way.
First, let's pick apart the wording in the Flagship confirmation letter.
https://twitter.com/rvom110/status/1057633512138846208
"As you know, Flagship is engaged in healthcare and nursing facilities and we believe our joint combined efforts will solidify Toron and InMed as a force in the Southeastern United States healthcare market.
Thank you again for this opportunity and we look forward to this continued partnership."
Think about what is being said here. If InMed was already a "force" in the Southeastern United States healthcare market, then what would change just by having Toron acquire it? Nothing - unless Toron was a vehicle for expansion and growth. And why would Flagship mention a continued partnership once the InMed deal was sealed and done with? They are a financier, so a continued partnership would mean that they must continue bringing something to the table in the future, which would obviously mean capital. That capital would not be to pay for the same acquisition deal twice, so putting one logical foot in front of the other, there is strength in the likelihood of more to come.
That letter was sent out on October 25, 2018. Now lets look at the press release on October 31, 2018.
“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"
Okay, so here we have an unmentioned finance company who specializes in financing healthcare providers. Pretty strong odds it is Flagship. That cannot be stated with certainty, but it is the best guess at the current time.
Going back a bit, when Flagship offered the LOI for funding back in 2017, it was specifically for InMed. With $10.9M already out the door on InMed, why would they, or any other potential entity, finance $10M more without knowing what it was going towards and how they would get it back with an additional return? They are not going to just hand over the money for the thought of any garden variety of potential acquisitions. A financier is going to want to see some paperwork on the target or targets, even if it is a narrowing down from three strong prospects, so as to land the strongest deal among them in the end. Targeted entities, numbers, operations, and a game plan are going to be needed to play ball.
And as far as becoming a force in the Southeastern United States healthcare market, "adding to our base of operations" would help with that significantly, and would add to the declaration of a "continued partnership".
Now, on November 14, 2018, CEO Jarry of InMed was quoted in Toron's press release. Consider the following line:
"We are pleased to become part of the Toron family and towards building a stronger and expanded healthcare network.”
So now we have CEO Jarry of InMed speaking of an "expanded healthcare network", CEO Shah of Flagship voicing a "continued partnership", and foreseeing InMed and Toron become" a force in the Southeastern United States healthcare market", and CEO Morentin of Toron making public mention of an additional executed LOI for a second tranche of $10M in funding to "explore additional acquisition opportunities and add to our base of operations". That statement sounded like it was in the plural format, not just "an additional acquisition opportunity".
Flagship seems to be the go-to financier, InMed seems to be the base from which the "force" will be expanded from, with CEO Jarry likely working on the growth and revision alongside Brad Eisemann, and Rene seems to be captaining the exploration process from whose lens it will be decided which targets will be worth pursuing, and how to go about executing the deals and structuring them.
InMed is not all there is to the show. This is just the base, not the expansion. If it is not already a force, then to become a force, it must expand in scope, locations and revenue. That lines up with CEO Jarry's wording about "building a stronger and expanded healthcare network".
I sense there is a lot more on the way. There is a reason the board of directors is expanding. Toron is more than just the original InMed deal. Toron is a force.
For those just getting eyes on this, if you go through the DD packets and/or press releases, you will see the mention of "a series of acquisitions" or "first in a series of acquisitions". Let's pick apart some additional soundbites, and we'll throw a clip of two from CEO Morentin in along the way.
First, let's pick apart the wording in the Flagship confirmation letter.
https://twitter.com/rvom110/status/1057633512138846208
"As you know, Flagship is engaged in healthcare and nursing facilities and we believe our joint combined efforts will solidify Toron and InMed as a force in the Southeastern United States healthcare market.
Thank you again for this opportunity and we look forward to this continued partnership."
Think about what is being said here. If InMed was already a "force" in the Southeastern United States healthcare market, then what would change just by having Toron acquire it? Nothing - unless Toron was a vehicle for expansion and growth. And why would Flagship mention a continued partnership once the InMed deal was sealed and done with? They are a financier, so a continued partnership would mean that they must continue bringing something to the table in the future, which would obviously mean capital. That capital would not be to pay for the same acquisition deal twice, so putting one logical foot in front of the other, there is strength in the likelihood of more to come.
That letter was sent out on October 25, 2018. Now lets look at the press release on October 31, 2018.
“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"
Okay, so here we have an unmentioned finance company who specializes in financing healthcare providers. Pretty strong odds it is Flagship. That cannot be stated with certainty, but it is the best guess at the current time.
Going back a bit, when Flagship offered the LOI for funding back in 2017, it was specifically for InMed. With $10.9M already out the door on InMed, why would they, or any other potential entity, finance $10M more without knowing what it was going towards and how they would get it back with an additional return? They are not going to just hand over the money for the thought of any garden variety of potential acquisitions. A financier is going to want to see some paperwork on the target or targets, even if it is a narrowing down from three strong prospects, so as to land the strongest deal among them in the end. Targeted entities, numbers, operations, and a game plan are going to be needed to play ball.
And as far as becoming a force in the Southeastern United States healthcare market, "adding to our base of operations" would help with that significantly, and would add to the declaration of a "continued partnership".
Now, on November 14, 2018, CEO Jarry of InMed was quoted in Toron's press release. Consider the following line:
"We are pleased to become part of the Toron family and towards building a stronger and expanded healthcare network.”
So now we have CEO Jarry of InMed speaking of an "expanded healthcare network", CEO Shah of Flagship voicing a "continued partnership", and foreseeing InMed and Toron become" a force in the Southeastern United States healthcare market", and CEO Morentin of Toron making public mention of an additional executed LOI for a second tranche of $10M in funding to "explore additional acquisition opportunities and add to our base of operations". That statement sounded like it was in the plural format, not just "an additional acquisition opportunity".
Flagship seems to be the go-to financier, InMed seems to be the base from which the "force" will be expanded from, with CEO Jarry likely working on the growth and revision alongside Brad Eisemann, and Rene seems to be captaining the exploration process from whose lens it will be decided which targets will be worth pursuing, and how to go about executing the deals and structuring them.
InMed is not all there is to the show. This is just the base, not the expansion. If it is not already a force, then to become a force, it must expand in scope, locations and revenue. That lines up with CEO Jarry's wording about "building a stronger and expanded healthcare network".
I sense there is a lot more on the way. There is a reason the board of directors is expanding. Toron is more than just the original InMed deal. Toron is a force.
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