lol...this REIT has been screaming since you mentioned the forthcoming fed decision...
lol...anyone know whether ADK or GBCS has initiated any claims against him or his various entities...I agree that ADK is a better company moving forward, and may even see significant improvement in pps post-announcement...if not today, soon. I.e., there may have been investors on the sidelines watching ADK...now, with Gentry & Co gone, and CB gone, the perception may have changed on the Street. Thoughts?
an acquiror like ADK - McBride & Co know the REIT business, and the breakup business as well...both in play here, imo. ADK gets a bargain, and we get out of GBCS. only question is whether there is anything left for shareholders here after debt paid off. thoughts? imo, ADK gets a steal on these assets.
I'm with you. Pretty upset nothing coming out of this "REIT" re: recent activity by the SEC. We need an ANNOUNCEMENT!!! imo.
see my posts re: ADK's BoD, and what I think...as far as GBCS, I think the assets should be sold off to ADK if the leases are attractive. Obviously, there are investors in GBCS who feel the same today.
there is a well-documented history if one cares to search, and I've read all there is to read. please don't mistake the word "involvement" for "confidence" in any of my posts. I've tried to buy ADK under $3 with every buy - and with the current yield, it's attractive imo. Plus, there's still a moratorium on new SNF beds in GA, to my knowledge, so there is inherent value simply in being one of the landlords with triple-net leases signed. I've always sided on quality care as the best long-term strategy...and always will.
gosh, I hope so after today's massacre. if anything got messed up between ADK & GBCS, and the latter owes the former, I'd just as well see the assets transferred as payment...don't know enough details of the charges, but GBCS should've announced SOMETHING TO SHAREHOLDERS ALREADY, imo, to let them know what's going on.
moving slowly up...with FDA/USDA as research partners, my guess is we're in for good news by end of year. just my opinion, however.
...remember the "tender offer" that was subsequently withdrawn due to "inability to obtain financing"? At the time, I remember thinking some investors could've made some serious money if they traded the "spike" that resulted from the "tender announcement" of that "non-tender"...it was a weird announcement, imo.
someone's got some work to do to untangle this mess for us - thankfully, it will NOT distract from current business as it will be outside parties and auditors responsibility and current management is in no way "connected" to the mess. Good luck to all - we have a clear strategy from current mgt, and my thought is that only something GOOD can result from this investigation and the changes that have occurred at ADK in the past year.
i too have both GBCS & ADK, and am now EVEN MORE CONFIDENT with the direction of the company, although I believe ALL of the OLD BoD, if there are any left, should GO as a result of an apparent failure of fiduciary duty. Obviously, someone knew what was coming down the pipe & they took action to minimize the impact of this news on ADK & its shareholders - my guess is McBride led the effort to protect us & I am invested more in him than any former associate of the company. Anyone know if Fleming is still CFO, and whether it was he who uncovered discrepancies? FWIW, my opinion of him is very high.
When the accounting irregularities surfaced several years ago, I privately questioned what was occurring at ADK, including why a former banker was running the company instead of someone experienced with running quality nursing homes that insured seniors were cared for appropriately - which, in turn, lends itself to long-term success & prosperity. It was no surprise to me when they shuttered the operating company doors.
As an investor, I bought into the strategy of acquiring turnaround facilities and reaping the future benefits of improved, leaner and better quality facilities. I do feel the company is on the right track now, and that the recent news - whether it results in any further action or not - will be welcomed by the investment/financial community. If anyone knows more, I'd be curious as to possible repayment to ADK for any missing funds, and whether there are others being targeted for investigation...as well as whether or not ADK took on - and is currently saddled with - any additional debt or expense as a result of the cited behavior.
Anyone also have comments on GBCS, as I own that, too. Cannot see that business continuing long without participation of CB...but, will it be acquired/liquidated? and, if so, what are potential returns? Will take a look at debt balance..