Two Press Releases and A Couple of Comments:
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Posted On: 01/23/2019 6:26:22 PM
Two Press Releases and A Couple of Comments:
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. (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.
First, touching on iMedScan, in addition to the soundbites in the post preceding this one, the first press release asserts the intent to use the first acquisition to show the veracity and efficiency of iMedScan via its implementation in InMed. Going by the quotes laid down in the prior posting, they are looking to boost InMed significantly, to the tune of a 25% reduction in insurance denials and rejections, as well as a 50% net profit recapture. Also of substance, in the December 14, 2017 press release, there was mention of the creation of use of iMedScan in kiosk form, as well as what seems to be smart contracts, using blockchain to digitize recurring monthly revenue contracts. Considering the phrasing of recurring monthly revenue contracts, it seems iMedScan's scope goes beyond just patient payment, loss prevention, and net recapture, and extends to the upper organizational level by which it could reel in the business of entire healthcare systems and larger insurance agencies.
With iMedscan discussion above out of the way, the first press release asserts that the ~$11M LOI from Flagship was for InMed. If that sounds like common knowledge, it is; and if it does not sound of importance, here's where it could be more telling about Rene's hand and the cards he may be holding.
In the order of operations, Flagship did not approve Toron for the 8-figure loan first, by which Toron then decided to go on a shopping trip to pick InMed. Toron already had InMed as a target ready to present, and Flagship gave the nod and offered up the LOI.
So, with that being the order of operations, the next step is probably not so different. In the second press release, Toron was issued a second 8-figure tranche of funding. Like the first scenario, the cart did not come before the horse, and the presentation of the money did not come before the presentation of the acquisition target(InMed).
Now, the second release mentions clearly the intent to explore additional acquisition targets. While that sounds like future tense, and like they are just going to begin the process, it is likely only what is being depicted to shareholders and the public at the current time. It would be very surprising if Flagship(or any other lender) just gave $10M and said "Go Explore with our money and tell us what you find!". More likely, Rene had several targets in mind, and some way of presenting them each as viable, but needed the loan to prove funding capabilities to any number of a series of viable targets which the lender(Flagship, etc) had given the nod to, which Toron would have to sort through, and then pick the best of the bunch(likely with the help of InMed this time, seeing as they mentioned expanding the base of operations).
InMed is looking like the first domino to fall, and after the 8k and audits, plus the formal BOD integration, we will likely know more about where that second tranche of funding is going.
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. (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.
First, touching on iMedScan, in addition to the soundbites in the post preceding this one, the first press release asserts the intent to use the first acquisition to show the veracity and efficiency of iMedScan via its implementation in InMed. Going by the quotes laid down in the prior posting, they are looking to boost InMed significantly, to the tune of a 25% reduction in insurance denials and rejections, as well as a 50% net profit recapture. Also of substance, in the December 14, 2017 press release, there was mention of the creation of use of iMedScan in kiosk form, as well as what seems to be smart contracts, using blockchain to digitize recurring monthly revenue contracts. Considering the phrasing of recurring monthly revenue contracts, it seems iMedScan's scope goes beyond just patient payment, loss prevention, and net recapture, and extends to the upper organizational level by which it could reel in the business of entire healthcare systems and larger insurance agencies.
With iMedscan discussion above out of the way, the first press release asserts that the ~$11M LOI from Flagship was for InMed. If that sounds like common knowledge, it is; and if it does not sound of importance, here's where it could be more telling about Rene's hand and the cards he may be holding.
In the order of operations, Flagship did not approve Toron for the 8-figure loan first, by which Toron then decided to go on a shopping trip to pick InMed. Toron already had InMed as a target ready to present, and Flagship gave the nod and offered up the LOI.
So, with that being the order of operations, the next step is probably not so different. In the second press release, Toron was issued a second 8-figure tranche of funding. Like the first scenario, the cart did not come before the horse, and the presentation of the money did not come before the presentation of the acquisition target(InMed).
Now, the second release mentions clearly the intent to explore additional acquisition targets. While that sounds like future tense, and like they are just going to begin the process, it is likely only what is being depicted to shareholders and the public at the current time. It would be very surprising if Flagship(or any other lender) just gave $10M and said "Go Explore with our money and tell us what you find!". More likely, Rene had several targets in mind, and some way of presenting them each as viable, but needed the loan to prove funding capabilities to any number of a series of viable targets which the lender(Flagship, etc) had given the nod to, which Toron would have to sort through, and then pick the best of the bunch(likely with the help of InMed this time, seeing as they mentioned expanding the base of operations).
InMed is looking like the first domino to fall, and after the 8k and audits, plus the formal BOD integration, we will likely know more about where that second tranche of funding is going.
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