this looks like a Dutch Aution format..but instead of FVE buying back shares..portneys decided he wants to control five star..the board..and all the rest of the shareholders... this thing could go on for six months. maybe more.
� not to engage in certain activities involving us without the approval of the Board for a period of 10 years, including not to effect or seek to effect any tender or exchange offer, merger, business combination, recapitalization, restructuring, liquidation or other extraordinary transaction involving us, other than their
acquisition of up to 18,000,000 Shares prior to March 31, 2017, or solicit any proxies to vote any of our voting securities.
Ohh i think its quite real...portney not buying on the open market..it makes sence his appeal to control about 30% of the float with RMR and SNH..this way he can fend off any outside offers outright. What surprises me is why Gemini has made no comment yet...these guys hold about 6.8% of the float. Are they set to ready a higher bid, They valued Five stars realestate at 325 million or $6.25 a share..Now there gonna let portney try to lock up control at $3.00 a share? doesnt make sence..
I sence were not that far from turning earnings positive....after Portney takes control..well rally to $8 bucks...that's my worst fear of sellin into the offer...Just look at RMR now...can't stop the graph
yell always be Jonesey...to me..LOL... For some reason yeyhoo..has decided it like my middle name..lol..
I see FVE trading higher than $3 bucks soon enough... Just my guts talking...why sell way below those soncdiary offering prices of $5 from years ago...that's what the institutions will think...the shares are worth easily 5 to 6.... can Portney Gain control with 20% ans SNH holding 9%.... I've always held FVE as a value play..and here we are
Interesting info from CCP.. On the SNF sector
Let me conclude my remarks with some perspective on our business and how it can deliver strong and growing cash flow over time. Healthcare is a terrific business that is growing faster than any other area of the domestic economy. And skilled nursing is a critical component of our healthcare infrastructure as the lowest cost provider of intensive facility-based care.
The demand for these services is incredible, as the over 80 age cohort is currently the fastest growing segment of the US population and is expected to grow even faster in the coming decade. That is why CMS is projecting that Medicare expenditures on SNFs will grow 7.5% per year, on average, through 2025.
In order to be able to pay for all this demand, the government has rationally proposed a shift from fee-for-service to episode-based payments. However, this will take time to implement and may never occur in certain markets or for certain conditions that are not conducive to risk sharing models. That is why, when fully implemented, CMS is projecting that only 50% of the payments will be in some form of alternative payment model and that the mandatory bundled payment will cover about 12% of skilled nursing Medicare days
It's funny GOV and Portney were awarded as one of the 50 most trust worthly companies ian the u.S by Forbes magazine..... could we have Portney all wrong? Lol
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Cash and cash equivalents
$ 64,306 $ 14,672
Accounts receivable, net of allowance of $3,631 and $3,592 at June 30, 2016 and December 31, 2015, respectively
Due from related persons
Investments in available for sale securities, of which $11,893 and $11,471 are restricted at June 30, 2016 and December 31, 2015, respectively
Prepaid expenses and other current assets
Assets of discontinued operations
Total current assets
Property and equipment, net
Equity investment of an investee
Restricted investments in available for sale securities
Other long term assets
I think FVE is about to make the turn...with short interest basicly evaporating...and our cash position set to baloon...I like our position right now....I just wish Jonsey and Tommy were still around to see the next move.
I don't even know about the new board...I,m gonna stick it out here...I use to post on stockhouse.com...but haven't for years.... I,m hoping that the brothers at Senior Star move forward with getting a seat on the board...since they actually own millions of shares they really can't just sit still anymore...Maybe Portney can silence most..but these guys aren't going away...Maybe turning FVE profitable can make a difference in the stock price...