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Bovie Medical Corporation Message Board

wise2allofu 20 posts  |  Last Activity: Aug 6, 2014 4:50 PM Member since: Feb 1, 2010
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  • Reply to

    JPlasma

    by bikerider79 Aug 6, 2014 10:24 AM
    wise2allofu wise2allofu Aug 6, 2014 4:50 PM Flag

    The new Bovie video is worth downloading. I found the 3 doctors they interviewed more sincere then anyone I've listened to at Bovie, past and/or present.

  • Reply to

    JPlasma

    by bikerider79 Aug 6, 2014 10:24 AM
    wise2allofu wise2allofu Aug 6, 2014 3:56 PM Flag

    They're aren't too many corners left for those in the "old boys club". I'm sure RC and his RENN funds don't expect this to go on indefinitely. Bovie's Q1 & Q2 meeting call-ins/questions were pre-rehearsed, and RENN as an insider, has been intimately involved in all that has transpired since 2004.

  • Reply to

    JPlasma

    by bikerider79 Aug 6, 2014 10:24 AM
    wise2allofu wise2allofu Aug 6, 2014 1:34 PM Flag

    I was told by IR that each practitioner would have their own generator.

  • Reply to

    JPlasma

    by bikerider79 Aug 6, 2014 10:24 AM
    wise2allofu wise2allofu Aug 6, 2014 12:05 PM Flag

    98 surgeons are using the J-Plasma at 40+ sites. At $25,000 a generator, Bovie has loaned, leased and/ or sold $2,450,000 in generators.

    Bovie also changed the design of the J-Plasma to the Livneh-Inspired "Pistol-Grip" model, designed and manufactured at Bovie China aka Dynament, the Steve Livneh operation.

    There was never any animosity between Bovie and Livneh.

  • “In July, we were awarded an important contract with a mid-western Integrated Delivery Network (IDN) that is consistently rated among the top 10 systems by U.S. News & World Report. This is a complex contract that will take some time to fully implement, but it gives us the opportunity to sell J-Plasma® into each of the 13 hospitals that comprise the system,” noted Mr. Gershon.

    Advocate Health Care (Oak Brook, Ill.) — 13 hospitals. The largest healthcare provider in Illinois, Advocate Health Care was named one of the top 10 U.S. health systems in quality and efficiency by Thomson Reuters in both 2009 and 2010 and the 22nd most integrated system in the country by SDI Health in 2010. Its hospitals have more than 3,000 beds and more than 28,000 employees, and the system partners with 3,600 physicians on the medical staffs of Advocate hospitals in Advocate Physician Partners, a care management and managed care contracting joint venture. In Jan. 2010, the Chicago-area system moved into downstate Illinois for the first time and acquired 221-bed BroMenn Regional Medical Center in Normal and 25-bed Eureka Hospital. Advocate's largest hospitals are 695-bed Advocate Christ Medical Center in Oak Lawn, 645-bed Advocate Lutheran General in Park Ridge and 408-bed Advocate Illinois Masonic Medical Center in Chicago.

  • Reply to

    ORDER BUT NO FILED SETTLEMENT DOCUMENTS ??

    by wise2allofu Jun 26, 2014 2:22 PM
    wise2allofu wise2allofu Jun 26, 2014 4:58 PM Flag

    This document (Dkt 100) was filed after the case was dismissed by the Court (Dkt. 98).

    JOINT MOTION TO REOPEN CASE

    Plaintiffs Bruce A. Arbit and Mark Winters (“Plaintiffs”), on behalf of themselves and
    Nominal Defendant Bovie Medical Corp. (“Bovie” or the “Company”), and Defendants Andrew
    Makrides, J. Robert Saron, George W. Kromer, Michael G. Norman, August Lentricchia, Steven
    MacLaren, Gregory Alan Konesky, Moshe Citronowicz, Peter Pardoll, and Leonard Keen
    (“Defendants”) respectfully request that the Court enter reopen this case for good cause shown
    pursuant to its June 26, 2013 order of dismissal. (Dkt. 98)....

  • ORDER

    The Court has been advised via a Joint Status Report (Dkt. #97) that the above-styled action has been settled. Accordingly, pursuant to Local Rule 3.08(b), M.D.Fla, it is:

    ORDERED AND ADJUDGED that this cause is hereby DISMISSED without prejudice and subject to the right of the parties, within sixty (60) days of the date of this order, to submit a stipulated form of final order or judgment should they so choose or for any party to move to reopen the action, upon good cause shown. After that 60-day period, however, dismissal shall be with prejudice. All pending motions, if any, are DENIED as moot. The Clerk is directed to close the file.

    DONE and ORDERED in Tampa, Florida, this 26th day of June, 2014.

  • Status Report document filed June 13-14

    The parties are pleased to report that the settlement and related documents have been approved by Bovie’s Board of Directors. Counsel are presently finalizing the documents and awaiting final authorization from the applicable insurance carriers. They anticipate filing the settlement documents by next Friday, June 20, 2014.

  • Reply to

    Shareholder Derivative Action

    by wise2allofu Jun 6, 2014 9:53 AM
    wise2allofu wise2allofu Jun 18, 2014 11:02 AM Flag

    Status Report document filed June 13-14

    The parties are pleased to report that the settlement and related documents have been approved by Bovie’s Board of Directors. Counsel are presently finalizing the documents and awaiting final authorization from the applicable insurance carriers. They anticipate filing the settlement documents by next Friday, June 20, 2014.

  • Reply to

    Shareholder Derivative Action

    by wise2allofu Jun 6, 2014 9:53 AM
    wise2allofu wise2allofu Jun 10, 2014 5:58 PM Flag

    Most people don't have a Pacer account. It is the last of the BVX legal loose ends and as usual, they're taking it into OT.

  • Reply to

    Russell Buys More BVX

    by wise2allofu Jun 10, 2014 8:26 AM
    wise2allofu wise2allofu Jun 10, 2014 2:03 PM Flag

    No big deal RW75. Thought his comments on the potential of BVX were noteworthy. Also, I consider him an insider, who is buying.

  • Reply to

    Shareholder Derivative Action

    by wise2allofu Jun 6, 2014 9:53 AM
    wise2allofu wise2allofu Jun 10, 2014 1:26 PM Flag

    ENDORSED ORDER: The parties are directed to file a Status Report within five (5) days of the date of this Order. Signed by Judge James S. Moody, Jr on 6/9/2014. (LN)

  • Reply to

    Russell Buys More BVX

    by wise2allofu Jun 10, 2014 8:26 AM
    wise2allofu wise2allofu Jun 10, 2014 1:16 PM Flag

    Go all the way to 2004 and you find Russell Cleveland's holdings are more than 2,309,542 shares.

  • Reply to

    Russell Buys More BVX

    by wise2allofu Jun 10, 2014 8:26 AM
    wise2allofu wise2allofu Jun 10, 2014 1:00 PM Flag

    The fund now how 680,000 shares, not 550.000.

  • Reply to

    Russell Buys More BVX

    by wise2allofu Jun 10, 2014 8:26 AM
    wise2allofu wise2allofu Jun 10, 2014 12:59 PM Flag

    No it was on the Renn Cap web site.

  • wise2allofu by wise2allofu Jun 10, 2014 8:26 AM Flag

    Dear Shareholder,

    Both the economy and the stock market were positive in 2013. Our net asset value varied between $2.36 per share to $2.89 with a close at $2.36. A relatively small move in several of our positions can create a change of more than 10% in net assets value.

    Of these, Bovie Medical (NYSE-Amex:BVX) is a prime example. The stock traded as high as $4.79 earlier in the year and closed at $2.15 per share. Our Fund currently holds 550,000 shares. In January 2014 a new Chief Executive Officer joined Bovie to focus on rolling out the revolutionary new surgical system, J-Plasma. Robert Gershon, the new CEO, has had a long successful career in the medical field including running US Surgical, a billion dollar company. I am very optimistic about the potential here. I have always thought Bovie should sell at a minimum of $10 - $20 per share. At $20 Bovie would be worth as much as the entire current portfolio.

    In conclusion, I believe our Fund could be in for some good years. In the past, we have distributed substantial gains and hope to do this again in the future.

    Sincerely

    Russell Cleveland
    President and CEO

  • As reported in earlier status reports, the settlement of this case has involved complex questions both related to settlement consideration and terms as well as insurance coverage and the resolution of outstanding coverage disputes. Counsel for the Parties believe that these issues have been resolved and that the only remaining item is for the Board of Directors of Nominal Defendant Bovie Medical Corporation to vote on whether to approve the settlement documents. Board approval of the settlement documents is required because, among other reasons, the settlement documents provide the specific terms of the certain corporate governance measures that the Board will be required to adopt and/or implement as a result of the settlement. A special meeting of the Board of Directors is being scheduled for this purpose. Subject to availability, it is expected to take place on either May 29 or May 30, 2014.; Assuming that the Board of Directors votes to approve the settlement documents, counsel for the parties contemplate executing and filing such documentation within three business days thereafter.

    Dated: May 22, 2014.

    Nothing has been filed to date.

  • Reply to

    J-Plasma Hand Piece Design Change

    by wise2allofu May 20, 2014 1:35 PM
    wise2allofu wise2allofu May 28, 2014 10:47 PM Flag

    There are various options for acquiring J-Plasma generators (outright sale, leasing, pay by procedure, etc.).

  • Reply to

    J-Plasma Hand Piece Design Change

    by wise2allofu May 20, 2014 1:35 PM
    wise2allofu wise2allofu May 21, 2014 1:51 PM Flag

    Come to the ASM this year Bike. You can say what you think to my face, you pathetic coward. We can settle our differences like real men.

  • Reply to

    J-Plasma Hand Piece Design Change

    by wise2allofu May 20, 2014 1:35 PM
    wise2allofu wise2allofu May 21, 2014 1:21 PM Flag

    J-Plasma sales do not include the generator sale/lease/pay-by-procedure revenue.
    Have it in writing.

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