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Zynex
Comments
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Interesting that some former employees have taken things further with the courts.0
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Wonder if they sell snake oil?0
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Does it mention about football being easy, and Europe in 5 years? 😂2
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Sandgaard, of course, has now moved into more of a 'back-seat' role, but things are not getting any better for the new CEO. 95% drop in share price since the golden days of 2020.
Zynex Expands Board, Appoints New Director - The Globe and Mail
I guess you can only sell so many batteries.
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I imagine Rock On Tommy would have sold a significant chunk of his shares long ago.I doubt he's on his uppers.1
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I have 50 shares I bought when he bought Charlton. Currently worth the princely sum of £23.72 compared to the £655 I paid! Not a great investment but at least the Rolls Royce shares I bought at a similar time have gone up by 800%.7
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If he's that skint he could always sell a few guitars.3
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Buying us was always on the assumption that Zynex shares would see the growth of the previous few years continue. Even then funding a loss making football club in the medium term would be stretching how much of his personal wealth he would be willing to throw at it.6
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Zynex (NASDAQ: ZYXI) announced it has voluntarily entered into a Chapter 11 court-supervised financial restructuring today - December 16th. Shares plummeted again to $0.29c!1
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Just change the lyric "Addicks to Victory" to "Zynex insolvency" - it still scans.CafcWest said:Zynex (NASDAQ: ZYXI) announced it has voluntarily entered into a Chapter 11 court-supervised financial restructuring today - December 16th. Shares plummeted again to $0.29c!21 -
Looks like my $10 share certificate will hang nicely in the wall alongside my VIP one.CafcWest said:Zynex (NASDAQ: ZYXI) announced it has voluntarily entered into a Chapter 11 court-supervised financial restructuring today - December 16th. Shares plummeted again to $0.29c!
Who do Brennan etc own ? They will be next mark my words. We are cursed I tell thee....cursed !2 -
Should have invested in Xanax, at least he would be calm if that bombed.3
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We're lucky he bailed on us before all of this hit the fan8
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It used to be our shirt sponsors which collapsed...5
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He's an egotistical guitar playing wankerKiwiValley said:We're lucky he bailed on us before all of this hit the fan2 -
Not unusual for a US law firm to circle aggressively on any business that they think they can ramp up a class action against. This firm specialises in just that. Chapter 11 is actually an idea I think we should adopt over here. It gives good businesses a chance to get through a rough patch without predators being able to attack whilst they are vulnerable.clive said:
Zynex’s issues seem mostly down one issue, but no idea whether they’ll be able to work through this unless that’s resolved.0 -
Their sales have been falling steadily this year & their costs increasing. Share price fell 60%.TelMc32 said:
Not unusual for a US law firm to circle aggressively on any business that they think they can ramp up a class action against. This firm specialises in just that. Chapter 11 is actually an idea I think we should adopt over here. It gives good businesses a chance to get through a rough patch without predators being able to attack whilst they are vulnerable.clive said:
Zynex’s issues seem mostly down one issue, but no idea whether they’ll be able to work through this unless that’s resolved.0 -
If you look at their SEC filings indicating the shares he has sold over the years, he is walking away wealthy man just not wealthy enough to own a football club2
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Yeah, but he's our egotistical guitar playing wankerblackpool72 said:
He's an egotistical guitar playing wankerKiwiValley said:We're lucky he bailed on us before all of this hit the fan5 -
I thought their main issue was that they were selling massively overpriced basic technology through rather sharp practices with medicare and tied providers who were realising that the pain relief devices sold could be acquired for a fraction of the cost elsewhere. Could be wrong/ have read the wrong reports though.golfaddick said:
Their sales have been falling steadily this year & their costs increasing. Share price fell 60%.TelMc32 said:
Not unusual for a US law firm to circle aggressively on any business that they think they can ramp up a class action against. This firm specialises in just that. Chapter 11 is actually an idea I think we should adopt over here. It gives good businesses a chance to get through a rough patch without predators being able to attack whilst they are vulnerable.clive said:
Zynex’s issues seem mostly down one issue, but no idea whether they’ll be able to work through this unless that’s resolved.3 -
yeah but apart from that...Alwaysneil said:
I thought their main issue was that they were selling massively overpriced basic technology through rather sharp practices with medicare and tied providers who were realising that the pain relief devices sold could be acquired for a fraction of the cost elsewhere. Could be wrong/ have read the wrong reports though.golfaddick said:
Their sales have been falling steadily this year & their costs increasing. Share price fell 60%.TelMc32 said:
Not unusual for a US law firm to circle aggressively on any business that they think they can ramp up a class action against. This firm specialises in just that. Chapter 11 is actually an idea I think we should adopt over here. It gives good businesses a chance to get through a rough patch without predators being able to attack whilst they are vulnerable.clive said:
Zynex’s issues seem mostly down one issue, but no idea whether they’ll be able to work through this unless that’s resolved.4 -
From what I remember he was invoicing Medicare (govt healthcare) way over the top for their devices and was investigated! Not sure what the outcome was1
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It’s more that they were sending out, allegedly, excessive amounts of supplies for their devices - electrodes & batteries - and then billing the insurance companies, including TriCare (the Government) for them, which inflated their own sales. It was reported in a medical journal and TriCare and others suspended all payments while they investigate. Zynex apparently provided their evidence/testimony back in April, but they’ve been given no resolution date. In June they cut 14% of their workforce. I suspect more will follow now in Chapter 11.ct_addick said:From what I remember he was invoicing Medicare (govt healthcare) way over the top for their devices and was investigated! Not sure what the outcome was
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If they go tits up, Will Martin Sandgaard go back into football recruitment?
He will have to get the black box back out of the broom cupboard.6 -
Now de-listed from NASDAQ and only trade on the pink sheet segment of the over-the-counter market in the US (whatever that means). Shares now worth only 8 cents each...what a fall and Mr Sandgaard in big trouble.0
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OOF...How do you become a Millionaire?Start as a Billionaire and buy a football club!3
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Thomas stepped down as CEO of Zynex last year though still holds a large amount of shares I think.
He also split with Raelyn (i'm toldshe was the reason he sold the club in the first place so that didn't go well for him either)
I suspect buying Charlton proved to be an absolute nightmare for him and his business practices didn't exactly go well either.3
