Corner of Berkshire & Fairfax Message Board

General Category => Investment Ideas => Topic started by: redhots on September 08, 2014, 12:29:20 PM

Title: PDH - Premier Diversified Holdings Inc.
Post by: redhots on September 08, 2014, 12:29:20 PM
I couldn't resist.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Liberty on September 08, 2014, 12:31:15 PM
Well, after today's 66% rise, it must be overpriced, right?  ;) :D
Title: Re: PDH - Premier Diagnostic Health Services
Post by: oddballstocks on September 08, 2014, 12:36:27 PM
I tried to get a quote on it via Fidelity, looks like shares aren't available for trading.  Anyone able to trade this in the US?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Liberty on September 08, 2014, 12:48:20 PM
I tried to get a quote on it via Fidelity, looks like shares aren't available for trading.  Anyone able to trade this in the US?

They're on a weird exchange that isn't available at most brokers, or is of limited availability (ie. phone only).

http://www.cnsx.ca/CNSX/Home.aspx

http://www.cnsx.ca/CNSX/Investor-Info/How-to-Trade-Stocks-on-the-CSE.aspx

https://en.wikipedia.org/wiki/Canadian_Securities_Exchange

I wouldn't be surprised if a move to another exchange happened at some point...
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 08, 2014, 12:54:40 PM
I tried to get a quote on it via Fidelity, looks like shares aren't available for trading.  Anyone able to trade this in the US?

They're on a weird exchange that isn't available at most brokers, or is of limited availability (ie. phone only).

http://www.cnsx.ca/CNSX/Home.aspx

http://www.cnsx.ca/CNSX/Investor-Info/How-to-Trade-Stocks-on-the-CSE.aspx

https://en.wikipedia.org/wiki/Canadian_Securities_Exchange

I wouldn't be surprised if a move to another exchange happened at some point...

Yes, that is one of the goals coming up.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on September 08, 2014, 01:00:21 PM
I tried to get a quote on it via Fidelity, looks like shares aren't available for trading.  Anyone able to trade this in the US?

I tried to get a quote on Fidelity and PDH:CA doesn't work.  ":CA" is what I usually put in for Canadian stocks.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Redskin212 on September 08, 2014, 01:11:35 PM
Try "PRDGF" on Fidelity.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: redhots on September 08, 2014, 03:14:26 PM
I am excited to see how this gets cleaned up...

Restoring cash flows,  eliminating lots of Related Party Transactions, stopping the warrant, options, share creep...
Title: Re: PDH - Premier Diagnostic Health Services
Post by: PatOfThePig on September 08, 2014, 04:00:52 PM
Each time i try to go on the web site:

www.premierdiagnostics.ca

Avast tell me that something is wrong, a virus or a malware, i don't know.  Maybe someone should look at this...
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 08, 2014, 07:10:20 PM
Each time i try to go on the web site:

www.premierdiagnostics.ca

Avast tell me that something is wrong, a virus or a malware, i don't know.  Maybe someone should look at this...

Avast for some reason views the Chinese characters in sections of the site as malware.  I've reported it, but they have not updated their false positive list. 

I'm in the process of revamping the technology side of the company, so upgrades and changes to the site, etc, will be happening.  Currently, our Clinic Director looks after the site, so he may not be fully aware of how to get these things fixed.

If you use any other anti-virus program, or non-PC operating systems, you probably won't get the false positive.  I don't get it on my computers running Norton's or Microsoft Defender...I don't know of any problems with Apple or Android either.  Cheers! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: kmukul on September 09, 2014, 05:20:57 AM
Congratulations Prasad, Best wishes :) I am sure you will go very well and thanks for this wonderful board :)

I am trying to understand what is going on here, Is PDH your investment vehicle going forward? I thought you were to have a bermuda vehicle also or is that a vehicle for reinsurance business,
What about Russell Breweries? is that anywhere in the picture.

Thanks everyone for your help
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Mephistopheles on September 09, 2014, 07:56:25 PM
Glad it's shooting up, I can short at higher prices

 :P
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Otsog on September 10, 2014, 03:00:40 PM
Private Placement @ $0.18 / share

http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-announces-72m-private-placement-cnsx-pdh-1946156.htm
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 10, 2014, 07:45:14 PM
I'd love to be shareholders with Sanjeev but I don't understand how this company is worth $10 million as of today.
The financials don't appear to support it.
I'm sure it can grow into that market cap over time but I don't see how it is worth it today.

I'll look to buy after a large drop.
Good luck to the buyers at today's prices.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Otsog on September 10, 2014, 08:46:37 PM
I don't think we have the information to make a proper valuation with the current information, just off the current financials corporate expenses exceed revenue and key employees hadn't been paid in months.  But for Sanjeev it sounds like this company was in a tailspin to 0.  Nothing in the most recent financials will reflect the structural changes and controls that have been implemented.  The pro forma statements will be a lot more informative.  I think it is a pretty easy jockey bet for now especially with statements like

The private placement will get you in at a set price...the same as us and all other existing shareholders.  You can buy in the open market as well, but it is unlikely you will get this price, since we and other shareholders will probably buy any stock available at the private placement price.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 10, 2014, 11:06:19 PM
I'd love to be shareholders with Sanjeev but I don't understand how this company is worth $10 million as of today.
The financials don't appear to support it.
I'm sure it can grow into that market cap over time but I don't see how it is worth it today.

I'll look to buy after a large drop.
Good luck to the buyers at today's prices.

You are looking at the financials as they stood when the company was headed for bankruptcy.  That did not include the new board, me, Alnesh, our team of directors at Corner Market Capital, my ability to allocate the capital being raised, the deals we are working on, or the potential of our existing asset management business if wrapped into the company in the future. 

The biggest option that investors will have to make a decision on is what value do you price the new reinsurance business we will be participating in.  How do you value the management team that is launching that business?  Does historical performance mean future success?  These are things I have no control of in the investor's decision making process, and you will all have to decide for yourself if the current price makes sense to you or not, based on the changes that are occurring.  All I can say is that I will eat my own cooking as always and am in for the long-term!  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ERICOPOLY on September 11, 2014, 04:36:54 AM
I haven't been to China... but I expected there to be a lot of um... Chinese.  The racial makeup of the staff on the front-page website's photos seems very different from what I'd otherwise expect to find in a Chinese clinic.  Look at the photo of the People's #3 Army Hospital Beijing.  Are those the real staff members in the photos?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: augustabound on September 11, 2014, 04:54:41 AM
Look at the photo of the People's #3 Army Hospital Beijing.  Are those the real staff members in the photos?

I'd like to work with the blonde if possible. I'll forward my resume today.  8)

But I think it's pretty typical to use promo photos in the med industry.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ERICOPOLY on September 11, 2014, 05:29:23 AM
Look at the photo of the People's #3 Army Hospital Beijing.  Are those the real staff members in the photos?

I'd like to work with the blonde if possible. I'll forward my resume today.  8)

But I think it's pretty typical to use promo photos in the med industry.

They show you the blonde to get you in there. 

Here's the bait and switch:
http://premierdiagnostics.ca/wp-content/uploads/2012/04/MRI-BJ-3.png

I'll bet you feel all healed up now.

No ethics in marketing.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: augustabound on September 11, 2014, 05:33:04 AM
Look at the photo of the People's #3 Army Hospital Beijing.  Are those the real staff members in the photos?

I'd like to work with the blonde if possible. I'll forward my resume today.  8)

But I think it's pretty typical to use promo photos in the med industry.

They show you the blonde to get you in there. 

Here's the bait and switch:
http://premierdiagnostics.ca/wp-content/uploads/2012/04/MRI-BJ-3.png

I'll bet you feel all healed up now.

No ethics in marketing.

I promised myself I wouldn't click your link..............then I did.

Maybe my girl is the one taking the picture?  ;D
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ERICOPOLY on September 11, 2014, 05:37:13 AM
Look at the photo of the People's #3 Army Hospital Beijing.  Are those the real staff members in the photos?

I'd like to work with the blonde if possible. I'll forward my resume today.  8)

But I think it's pretty typical to use promo photos in the med industry.

They show you the blonde to get you in there. 

Here's the bait and switch:
http://premierdiagnostics.ca/wp-content/uploads/2012/04/MRI-BJ-3.png

I'll bet you feel all healed up now.

No ethics in marketing.

I promised myself I wouldn't click your link..............then I did.

Maybe my girl is the one taking the picture?  ;D

Well... go ahead and take the job and escalate the issue up the chain.  Perhaps the CEO can acquire La Perla and cross-sell lingerie.  There's always the holiday mixer and medical gowns have never been so comfortable.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: bizaro86 on September 11, 2014, 07:51:39 AM
I'd love to be shareholders with Sanjeev but I don't understand how this company is worth $10 million as of today.
The financials don't appear to support it.
I'm sure it can grow into that market cap over time but I don't see how it is worth it today.

I'll look to buy after a large drop.
Good luck to the buyers at today's prices.

I bought a starter position here, and hope to get more in the private placement. This isn't a value investment, it's a bet on a value investment manager. You're paying ~1.8X current business value, if you assume the current business isn't worth anything, but you're getting Parsad and his team, and their ability to raise money above the current value. That has a bit of a reflexivity to it, as if they raise more money at 1.8X current business value, that raises business value for current shareholders. Plus, you get their ability to leverage your money (via reinsurance) and invest it.

I think it's pretty likely they'll be able to invest my money better than me over the long term, which is why I think it makes sense to buy now. Over very long periods you'll get approximately their ROE no matter what P/B you buy at.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Yours Truly on September 11, 2014, 08:37:53 AM
Anyone have an estimate as to when the PP will be closed and fully subscribed to?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ECCO on September 11, 2014, 08:44:58 AM
I have many questions that I expect to find the answers when I will get the document of the private placement.

But one thing I dont understand, is why giving about 55% of the "new" cie to actual shareholder when the actual cie is losing money and was going bankrupt. Actual shareholders must wake up at night and wondering if its true or they are still dreaming, no?

Could have not been less expensive to just start a new business and have it listed? Or buy an inactive mining cie and dilute to almost nothing actual shareholder?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: gary17 on September 11, 2014, 09:12:43 AM
I was wondering if anyone has info on the performance of MPIC fund over the last 10 years ?   I went to the Corner Market Capital site and can't seem to find any info....   Would be good to know ... Thanks!

Title: Re: PDH - Premier Diagnostic Health Services
Post by: rainman on September 11, 2014, 09:19:17 AM
Which broker can I buy PDH from ? I am in US.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: fareastwarriors on September 11, 2014, 09:40:27 AM
Which broker can I buy PDH from ? I am in US.


Quote
Try "PRDGF"

redskin212
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ECCO on September 11, 2014, 09:56:06 AM
Anyone have an estimate as to when the PP will be closed and fully subscribed to?

Will have to received document first, I have not received any document yet.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: gary17 on September 11, 2014, 02:10:03 PM
I was wondering if anyone has info on the performance of MPIC fund over the last 10 years ?   I went to the Corner Market Capital site and can't seem to find any info....   Would be good to know ... Thanks!

I was really hoping someone could help....   Or perhaps those who have invested with Sanjeev could let me know Sanjeev's performance in the last 10 years :)     Would this not be an important question to get answered for investing in PDH ?

Thanks !
Gary
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 11, 2014, 06:46:18 PM
"You are looking at the financials as they stood when the company was headed for bankruptcy.  That did not include the new board, me, Alnesh, our team of directors at Corner Market Capital, my ability to allocate the capital being raised, the deals we are working on, or the potential of our existing asset management business if wrapped into the company in the future. 

The biggest option that investors will have to make a decision on is what value do you price the new reinsurance business we will be participating in.  How do you value the management team that is launching that business?  Does historical performance mean future success?  These are things I have no control of in the investor's decision making process, and you will all have to decide for yourself if the current price makes sense to you or not, based on the changes that are occurring.  All I can say is that I will eat my own cooking as always and am in for the long-term!  Cheers!"

Fair enough. I'll try and buy a small position so I can track it. I've also never been to Canada so that will give me an excuse to visit for the annual meeting.

Will you be adding an extra link on your board for the company? It seems logical.
I know you'll create a ton of value over time and I'm very much looking forward to following the company!

Let's cheer to lower prices for buyers. :)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: oddballstocks on September 11, 2014, 07:34:25 PM

Fair enough. I'll try and buy a small position so I can track it. I've also never been to Canada so that will give me an excuse to visit for the annual meeting.



Canada is a great country, it's a very nice version of the US.  Everything is cleaner and everyone is nicer.  But it's familiar enough to the US that there's no "wow, I'm in a different country" feeling.  Some of it, especially rural areas are almost indistinguishable from the US.  It is worth a trip for sure.  Maybe Sanjeev will stack the deck even more and schedule the PDH annual meeting at the same time as the Fairfax shareholders dinner/annual meeting.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: abitofvalue on September 11, 2014, 07:42:48 PM
This is probably a silly question - but why is the private placement being done at a premium to the market price? The stock price wasn't $0.18 till today but the private placement seems to have priced yesterday at $0.18.  Am i missing something obvious?

I am looking at historical prices on google finance.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Otsog on September 11, 2014, 08:52:41 PM
Maybe Sanjeev will stack the deck even more and schedule the PDH annual meeting at the same time as the Fairfax shareholders dinner/annual meeting.

I hope not. Fingers crossed for a Vancouver meeting.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 11, 2014, 10:58:37 PM
This is probably a silly question - but why is the private placement being done at a premium to the market price? The stock price wasn't $0.18 till today but the private placement seems to have priced yesterday at $0.18.  Am i missing something obvious?

I am looking at historical prices on google finance.

We always expected to price the placement between 15 and 18 cents based on what we felt were fair and accurate valuations. 

Since the market close the previous day had a bid of 17 cents and an ask of 19.5 cents, we priced it at the higher end at 18 cents in the announcement.

Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Uccmal on September 12, 2014, 04:08:30 AM

Fair enough. I'll try and buy a small position so I can track it. I've also never been to Canada so that will give me an excuse to visit for the annual meeting.



Canada is a great country, it's a very nice version of the US.  Everything is cleaner and everyone is nicer.  But it's familiar enough to the US that there's no "wow, I'm in a different country" feeling.  Some of it, especially rural areas are almost indistinguishable from the US.  It is worth a trip for sure.  Maybe Sanjeev will stack the deck even more and schedule the PDH annual meeting at the same time as the Fairfax shareholders dinner/annual meeting.

Not everyone is nice.   Growwwwl.  Try driving in Toronto.  The only difference between Cdn and Americans is that we are better in every way.....

Title: Re: PDH - Premier Diagnostic Health Services
Post by: Uccmal on September 12, 2014, 04:22:52 AM
I was wondering if anyone has info on the performance of MPIC fund over the last 10 years ?   I went to the Corner Market Capital site and can't seem to find any info....   Would be good to know ... Thanks!

I was really hoping someone could help....   Or perhaps those who have invested with Sanjeev could let me know Sanjeev's performance in the last 10 years :)     Would this not be an important question to get answered for investing in PDH ?

Thanks !
Gary

Gary, I have known Sanj. for about 9 years, and Alnesh a little less.  I dont know the record on Corner Market Capital offhand but suffice to say it is within the top 5%.  I dont think you could go wrong investing with him... for the long term.  I suspect PDH will have returns over time that are as good as you could get, anywhere. 

My own record is 25%  (after tax) over 9 years and I will be investing with him.  He is honest, and ungodly smart, and understands risk. 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Gamecock-YT on September 12, 2014, 05:52:05 AM

Fair enough. I'll try and buy a small position so I can track it. I've also never been to Canada so that will give me an excuse to visit for the annual meeting.



 But it's familiar enough to the US that there's no "wow, I'm in a different country" feeling. 

The stop signs in French always freak me out.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: jeffmori7 on September 12, 2014, 06:37:26 AM

Fair enough. I'll try and buy a small position so I can track it. I've also never been to Canada so that will give me an excuse to visit for the annual meeting.



 But it's familiar enough to the US that there's no "wow, I'm in a different country" feeling. 

The stop signs in French always freak me out.

Yes, come to Quebec, that would be a litle bit more exotic than ROC (Rest of Canada)!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: LC on September 12, 2014, 08:55:35 AM
I lived in Montreal for 6 years and the only French I managed to learn was Arret.

Oh and also how to introduce myself to women. However being recently married I have, of course, quickly forgotten that.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: fareastwarriors on September 12, 2014, 09:30:08 AM
I lived in Montreal for 6 years and the only French I managed to learn was Arret.

Oh and also how to introduce myself to women. However being recently married I have, of course, quickly forgotten that.

Sure, LC, sure...
lol ;)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: bizaro86 on September 12, 2014, 09:54:30 AM
The stop signs in French always freak me out.

Depends which part of Canada. In the west you won't see or hear French except:

1) From Federal gov't employees (airport security greets us with "Hello Bonjour")
2) Printed on cereal boxes
Title: Re: PDH - Premier Diagnostic Health Services
Post by: augustabound on September 12, 2014, 09:58:55 AM
Even in Ontario there are only a few pockets of communities that speak French.

I think even stop signs are French in Quebec and parts of New Brunswick only.

Maybe to settle this the Premier AGM needs to be in Montreal.  :P

We can all take in a Habs game.................or Expos once they return.  ;D
Title: Re: PDH - Premier Diagnostic Health Services
Post by: TwoCitiesCapital on September 12, 2014, 12:02:25 PM
Was fortunate enough to get a starter position at 0.181. I know you're all about long term perspective so I'm willing to wait a whole year for to make me rich ;)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on September 12, 2014, 12:06:22 PM
Was fortunate enough to get a starter position at 0.181. I know you're all about long term perspective so I'm willing to wait a whole year for to make me rich ;)

It may take more than a year, but when it hits $100,000/share you will be rich.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Junto on September 12, 2014, 08:17:41 PM
Wow this is a trained wreck of a company. Parsad you have some guts getting involved here. What is your knowledge of this business? I don't recall this being an investment specialty of yours on the site but understand the site is a business in and of itself.

Huge options outstanding in the money (dilution), poor revenue history with a high hurdle break even rate. Debt and paybles getting converted  into stock at less than $0.03 per share during last 9 months. Definitely venture capital type deal.

Not a value play for sure. Not sure I would even buy @ $0.01 right now. Need to demonstrate its not a going concern first.

Best of luck! I hope you can revive it...a certain gamble...
Title: Re: PDH - Premier Diagnostic Health Services
Post by: LC on September 12, 2014, 08:34:36 PM
I lived in Montreal for 6 years and the only French I managed to learn was Arret.

Oh and also how to introduce myself to women. However being recently married I have, of course, quickly forgotten that.

Sure, LC, sure...
lol ;)

This is just step 1 in Kraven's program to create a happy and fulfilling marriage. Next week I'm learning the 100 uses for kale!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rayfinkle on September 12, 2014, 11:19:05 PM
I lived in Montreal for 6 years and the only French I managed to learn was Arret.

Oh and also how to introduce myself to women. However being recently married I have, of course, quickly forgotten that.

Sure, LC, sure...
lol ;)

This is just step 1 in Kraven's program to create a happy and fulfilling marriage. Next week I'm learning the 100 uses for kale!

hahaha
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 12, 2014, 11:43:09 PM
Wow this is a trained wreck of a company. Parsad you have some guts getting involved here. What is your knowledge of this business? I don't recall this being an investment specialty of yours on the site but understand the site is a business in and of itself.

Huge options outstanding in the money (dilution), poor revenue history with a high hurdle break even rate. Debt and paybles getting converted  into stock at less than $0.03 per share during last 9 months. Definitely venture capital type deal.

Not a value play for sure. Not sure I would even buy @ $0.01 right now. Need to demonstrate its not a going concern first.

Best of luck! I hope you can revive it...a certain gamble...

I skate to where the puck is going to be, not where it has been.

                 - Wayne Gretzky
Title: Re: PDH - Premier Diagnostic Health Services
Post by: kmukul on September 13, 2014, 01:16:17 AM
Can one of you guys kind enough to help me what is prasad doing with PDH, is he making it his investment vehicle or making it his reinsurance vehicle. If its that then may be price will hit 100K after 50 years and I can read Prasads letters meanwhile to make myself smarter

And is there a place that russell breweries has in this game? or is it just a holding of Prasad.

Thanks a lot
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Junto on September 13, 2014, 06:11:34 AM
Wow this is a trained wreck of a company. Parsad you have some guts getting involved here. What is your knowledge of this business? I don't recall this being an investment specialty of yours on the site but understand the site is a business in and of itself.

Huge options outstanding in the money (dilution), poor revenue history with a high hurdle break even rate. Debt and paybles getting converted  into stock at less than $0.03 per share during last 9 months. Definitely venture capital type deal.

Not a value play for sure. Not sure I would even buy @ $0.01 right now. Need to demonstrate its not a going concern first.

Best of luck! I hope you can revive it...a certain gamble...

I skate to where the puck is going to be, not where it has been.

                 - Wayne Gretzky

Look at the MD&A of your business. This is ugly. The PPM also indicates you are "The net proceeds of the Offering will be used to fund expansion of the Company's premier
diagnostic medical clinics in China and Canada, as well as for general working capital and investment purposes." 

Why would you reinvest into the existing business? Total Assets of $1.4MM as of June 30, almost all assets in China. Revenues of $503,634 for the nine months ended June 30, Net Loss of $777,879. Balance Sheet shows $78,630 in cash and equity of a negative $1,075,194. These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

Now you have to cover the spread with new revenues, reduced expenses, or additional businesses.  If you return ~10% of the raised PPM money, the company breaks even. If you reinvest in the business, it looks like good money after bad (the company has never been profitable and has amassed $14 million + in losses). If you invest in other businesses, you have to cover the drag of the existing operation plus return an acceptable amount to shareholders who will be diluted significantly to the benefit of the pre PPM shareholders, directors, and debt holders. Show me the history to support the potential market out-performance from investment prowess and business knowledge to drive market beating returns? I didn't see an answer to those questions on the board or in the filings.

It doesn't pass the smell test.

Again good luck, but I am not sure why you wouldn't start from scratch if you wanted a public investment vehicle versus working through this company. 

Not usually such a naysayer but someone has to balance the mind in the clouds thoughts on the board. I would highly recommend everyone stay away. I would put a strong sell order on this business at $0.20/share.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: augustabound on September 13, 2014, 06:55:43 AM
The PPM also indicates you are "The net proceeds of the Offering will be used to fund expansion of the Company's premier
diagnostic medical clinics in China and Canada, as well as for general working capital and investment purposes." 
In the (albeit limited number) of offering documents I've read, this seems standard.  A kind of legal standard of saying the company will allocate the capital as it sees fit.

I'm pretty sure Biglari's most recent offering had the same wording and his followers are their for his capital allocation, not his managerial capabilities of running restaurants or magazines.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Junto on September 13, 2014, 07:16:43 AM
The PPM also indicates you are "The net proceeds of the Offering will be used to fund expansion of the Company's premier
diagnostic medical clinics in China and Canada, as well as for general working capital and investment purposes." 
In the (albeit limited number) of offering documents I've read, this seems standard.  A kind of legal standard of saying the company will allocate the capital as it sees fit.

I'm pretty sure Biglari's most recent offering had the same wording and his followers are their for his capital allocation, not his managerial capabilities of running restaurants or magazines.

Not a material point on the language. I am more concerned on the value which appears to be way overvalued based on current value, shares outstanding, options, warrants, and the ability to close gap.

Biglari and Parsad is a poor comparison. Biglari's track record going into Western Sizzlin I am quite confident was better than Parsad and there was a salvageable company in all this investments. I am not sure this is the case with Premier. Look at the revenues versus the built up losses. I am not sure this ever was a viable company.

I have not met Parsad and hold nothing against him. Purely looking at this as an investment option given the data in front of us and what has been shared by the company and Parsad. The gap required to make acceptable returns and dilution prospects are too large for this to be a good investment at these levels.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: LC on September 13, 2014, 07:26:13 AM
Here is a business already licensed etc and with connections and experience doing business in China in an industry that from my inexperienced opinion probably has more tailwinds than headwinds.

Fix the cost problem (easier), re-focus the sales/revenue effort (harder), and good things may happen. That's my very simplified two cents.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Kraven on September 13, 2014, 07:35:26 AM
I lived in Montreal for 6 years and the only French I managed to learn was Arret.

Oh and also how to introduce myself to women. However being recently married I have, of course, quickly forgotten that.

Sure, LC, sure...
lol ;)

This is just step 1 in Kraven's program to create a happy and fulfilling marriage. Next week I'm learning the 100 uses for kale!

You're well on your way, Grasshopper. Next step is to tell your wife that she has great friends. They're so attractive and fun to be around.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: augustabound on September 13, 2014, 08:16:12 AM

Biglari and Parsad is a poor comparison.
I used the comparison for convenience sake since Biglari Holdings has been posted about frequently here.
In no way do I compare Sanjeev to Biglari. I wouldn't trust Biglari in any way in business or if he was my neighbour....................he may petition the town to re-survey the property lines and steal my property.  :P
Title: Re: PDH - Premier Diagnostic Health Services
Post by: CorpRaider on September 13, 2014, 08:33:15 AM
That's $.18 in loonies right?   ;D
Title: Re: PDH - Premier Diagnostic Health Services
Post by: doc75 on September 13, 2014, 02:53:01 PM
I was watching this one before the PP news hit, because I saw from filings that Parsad was involved and figured this was his vehicle.  There were 100000 shares on offer at .06, but I'm a cheapass and thought a 20% premium over all the recent options grants and converts was too much.... My order at 0.055 wasn't filled. :)

Can anyone comment on all the dilution at 0.05 to insiders, very quickly followed by a PP near .20?   One one hand, I get it:  If you think you can place shares at $2, then go ahead and do it.  But the timing seems very strange to me.  Is this actually a pretty common thing?  Nobody on here aside from Junto seems to find it weird.

Please note that I'm not making any accusations here -- just curious, because if I imagine such a thing happening with a bigger company then it feels offside. 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: JBird on September 13, 2014, 06:29:09 PM
I'm trying to just get an understanding of the valuation being placed on Premier if the offering is subscribed in full.

52.7 million shares currently outstanding. Plus at least an additional 3 million shares for dilution. "August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus."

So we're at 55.7 million. Now if the offering is fully subscribed there are an additional 50 million shares issued. So we're up to 105.7 million shares.

The private placement is taking place at an .18 cent per-share valuation, or $19.02 million on the whole company.

If the equity currently negative 1 million, and the full subscription adds 9 million in equity, were looking at net assets of 8 million.

Sanjeev, am I overlooking something something here? Assuming a full subscription, are we looking at net assets of about 8 million and a valuation of about 19 million?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 13, 2014, 09:59:46 PM
Sanjeev,

Can you explain for shareholders in Premier your views on dilution?
Are they anything similar to Buffett's and viewing them as a colonoscopy? Or are they very different?
Are you getting more in intrinsic value than you are giving up to employees at 5 cents per share?
Thanks1
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 14, 2014, 01:41:54 AM
These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

You haven't got the slightest clue what you are talking about!  You think these were granted to me or Alnesh?  What an idiot!

Now you have to cover the spread with new revenues, reduced expenses, or additional businesses.  If you return ~10% of the raised PPM money, the company breaks even. If you reinvest in the business, it looks like good money after bad (the company has never been profitable and has amassed $14 million + in losses). If you invest in other businesses, you have to cover the drag of the existing operation plus return an acceptable amount to shareholders who will be diluted significantly to the benefit of the pre PPM shareholders, directors, and debt holders. Show me the history to support the potential market out-performance from investment prowess and business knowledge to drive market beating returns? I didn't see an answer to those questions on the board or in the filings.

Again, someone with zero knowledge of what is happening at the company level, assumes that the existing businesses are stagnant, and that operating costs and capex are fixed.

Andy, you state that you have 8 years of business experience in your Covestor portfolio, yet you only show results from September 2009.  Talk about cherry picking and what doesn't pass the smell test!

http://covestor.com/andy-schornack/financial-services

Again good luck, but I am not sure why you wouldn't start from scratch if you wanted a public investment vehicle versus working through this company.

Because numbnutz, we had already injected some capital into the company, and to salvage that capital I had to force terms on the company to save it.  Once that was in the process, the company's future relied heavily on a change in management.  This wasn't the route we expected, but the route we ended up taking because of the existing management's failures to save the ship! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 14, 2014, 01:50:54 AM
Biglari and Parsad is a poor comparison. Biglari's track record going into Western Sizzlin I am quite confident was better than Parsad and there was a salvageable company in all this investments. I am not sure this is the case with Premier. Look at the revenues versus the built up losses. I am not sure this ever was a viable company.

You have no idea what you are talking about.  Do you even remember Western Sizzlin?  I was one of the investors in it, and it was running up losses like any other distressed business.  Sardar closed stores, cut costs, aligned compensation, adjusted pricing of the menu, and RAISED CAPITAL BY ISSUING STOCK BELOW BOOK FOR WORKING CAPITAL AND INVESTMENT PURPOSES.

I have not met Parsad and hold nothing against him. Purely looking at this as an investment option given the data in front of us and what has been shared by the company and Parsad. The gap required to make acceptable returns and dilution prospects are too large for this to be a good investment at these levels. 

Again, you have no idea what changes are happening at the company, and I cannot disclose anything because it is a public company, so your opinion is one without all of the data and facts.  In other words, you have stressed an opinion when your analysis is completely inconclusive!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 14, 2014, 01:54:09 AM
Sanjeev,

Can you explain for shareholders in Premier your views on dilution?
Are they anything similar to Buffett's and viewing them as a colonoscopy? Or are they very different?
Are you getting more in intrinsic value than you are giving up to employees at 5 cents per share?
Thanks1

Those shares Junto referred to weren't issued to me or Alnesh.  Dilution is very important and I would prefer not to issue shares unless we are getting back more in intrinsic value than we are giving up.  The person that those shares were issued to is going to add far more in intrinsic value than we gave up.  That's about all I can say on the subject.  Cheers! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: LC on September 14, 2014, 04:34:03 AM
Seems like the critics are taking historical losses and simply projecting them. Of course the company was losing money, but we don't invest backwards into history.

The company in the midst of many changes as Sanjeev has mentioned. The share placements and option issuances are obviously to facilitate that change in lieu of cash from operations.

You have a company with industry tailwinds and a great person we all know to embrace those tailwinds. Getting worked up over past management's crappy performance or the capital raises to facilitate the change become moot points: the real issue is whether you think the company can turn around. Given Sanjeev's experience and the tailwinds in the industry I thought it was a good bet. Bought shares.



Title: Re: PDH - Premier Diagnostic Health Services
Post by: LC on September 14, 2014, 04:39:53 AM
Also I'll say it's rare to get such feedback from management. Sanjeev is candid and lays out his plan. Moreso than from the majority of CEOs out there. This automatically improves the odds because you don't have to discount management or quality of information you receive as an investor. In fact it may warrant a premium IMHO. How many managers out there do you know you can trust?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Junto on September 14, 2014, 05:54:59 AM
These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

You haven't got the slightest clue what you are talking about!  You think these were granted to me or Alnesh?  What an idiot!

Now you have to cover the spread with new revenues, reduced expenses, or additional businesses.  If you return ~10% of the raised PPM money, the company breaks even. If you reinvest in the business, it looks like good money after bad (the company has never been profitable and has amassed $14 million + in losses). If you invest in other businesses, you have to cover the drag of the existing operation plus return an acceptable amount to shareholders who will be diluted significantly to the benefit of the pre PPM shareholders, directors, and debt holders. Show me the history to support the potential market out-performance from investment prowess and business knowledge to drive market beating returns? I didn't see an answer to those questions on the board or in the filings.

Again, someone with zero knowledge of what is happening at the company level, assumes that the existing businesses are stagnant, and that operating costs and capex are fixed.

Andy, you state that you have 8 years of business experience in your Covestor portfolio, yet you only show results from September 2009.  Talk about cherry picking and what doesn't pass the smell test!

http://covestor.com/andy-schornack/financial-services

Again good luck, but I am not sure why you wouldn't start from scratch if you wanted a public investment vehicle versus working through this company.

Because numbnutz, we had already injected some capital into the company, and to salvage that capital I had to force terms on the company to save it.  Once that was in the process, the company's future relied heavily on a change in management.  This wasn't the route we expected, but the route we ended up taking because of the existing management's failures to save the ship!

Giant leaps there Parsad. On the Covestor front, I don't manage the site and it is only a financial services portfolio (no leverage or options) reflected there since Covestor started allowing people to subscribe to the portfolio. I actually started with Covestor tracking back in 2007 or so when the site first launched and have been investing much longer. http://site.covestor.com/about-us to learn more about the company.

The post response illustrates two things to me. One I was asking questions about the company and its prospects/financials. What I got back was redirected comments about my personal investment history and business acumen which is not only way out of line but also ridiculously inaccurate. Two, realization that none of my questions were answered directly and still no clarity to prospects and financials.

The comment on the Director post has nothing to do with you. It has to do with management as a Board issuing options and shares at $0.05 one month before a PPM at $0.18.  The other dilutive actions taken speak for themselves.

Please direct your responses to the business and your plans.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: tombgrt on September 14, 2014, 06:26:45 AM
Also I'll say it's rare to get such feedback from management. Sanjeev is candid and lays out his plan. Moreso than from the majority of CEOs out there. This automatically improves the odds because you don't have to discount management or quality of information you receive as an investor. In fact it may warrant a premium IMHO. How many managers out there do you know you can trust?

For all you know you are already paying a very rich premium to fair value. What is your investment basis other than "the turnaround will work under good management"? How long will it take before things stabilize? Before they get decent returns on invested capital? This will impact your return tremendously.

This stock price explosion is little more than speculation and a result of a 5-year old extreme bull market, exploded board membership and idolization of permanent investment vehicles and great investors. No offense to anyone. After all, speculation can still make you serious money when done right.

Full disclosure: If I could invest with Sanjeev through his funds, I would. I think he is a great investor and has the potential to become a great manager.


I'd love to be shareholders with Sanjeev but I don't understand how this company is worth $10 million as of today.
The financials don't appear to support it.
I'm sure it can grow into that market cap over time but I don't see how it is worth it today.

I'll look to buy after a large drop.
Good luck to the buyers at today's prices.

I bought a starter position here, and hope to get more in the private placement. This isn't a value investment, it's a bet on a value investment manager. You're paying ~1.8X current business value, if you assume the current business isn't worth anything, but you're getting Parsad and his team, and their ability to raise money above the current value. That has a bit of a reflexivity to it, as if they raise more money at 1.8X current business value, that raises business value for current shareholders. Plus, you get their ability to leverage your money (via reinsurance) and invest it.

I think it's pretty likely they'll be able to invest my money better than me over the long term, which is why I think it makes sense to buy now. Over very long periods you'll get approximately their ROE no matter what P/B you buy at.

Unless your very long periods are extremely far out in the future, it does matter a lot. Especially when ROE turns out to be lower than anticipated, you could get burned badly by paying way too much. But I'm glad for Sanjeev that he is able to gather capital this easy, more power to him! 

Title: Re: PDH - Premier Diagnostic Health Services
Post by: ECCO on September 14, 2014, 06:58:55 AM
I must admit it amazed me to see the stock price jump to .10$, .15$, and 20$... People buying at these prices does not have a clue of what they are doing because information available is too old. That is pure speculation, not investment.

Many comments from people, but as long as we dont have more informations, right now Sanjeev is the only one who know what he is talking about.

Sanjeev, when do you expect pp documents to be available?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: alertmeipp on September 14, 2014, 07:43:48 AM
Damn, just saw this run like 400% in matter of days. Good for those who spent time doing a quick name search on the filing site! Congrats.

Title: Re: PDH - Premier Diagnostic Health Services
Post by: original mungerville on September 14, 2014, 07:45:09 AM
I have all the confidence in Sanjeev to create success and shareholder value over the long-term.

Having said that, I have one very superficial ratio I am having trouble with at this point: the revenues are less than $1 million and the implied market cap for Premier (at $0.18 per share) seems to be about $10 million. I mean even if costs are cut, etc, perfectly (which I have no doubt will happen under Sanjeev's leadership), how do earnings at current revenues get past say $500K after-tax?

Is the valuation implying a P/E of over 20 times for Premier (where even that 20 times p/e is predicated on a successful restructuring)?

Then I have to believe revenues and earnings will triple to get to a 15% ROE on the implied valuation.

Now, on the other hand, it seems Sanjeev intends to roll Corner Capital into this however I presume this transaction will happen at fair market value and won't be some sort of gift to private placement Premier investors for investing at 10x sales.

So this is what it looks like at a superficial / 1000 foot view of the deal - which I think is the reason for some negative comments on this thread.

------

Now, counteracting all this is, this is a two pronged deal. Premier is one prong, the future allocation of the $10 million in new capital is the other prong: the reinsurance deal I am sure will be interesting from a value perspective as well as other investments with that $10 million. The more money that is raised at this 0.18 per share, the more the future returns will be based on that new money that is raised; whereas the less money that is raised, the more the future returns will be dependent on Premier's business and the above noted valuation.

So to me, one risk seems to be that the full $10 million is not raised (eg, taking it to an extreme, if $100 million was being raised, only 10% of the total market cap would relate to Premier at the valuation of 0.18 per share - this would be good as the bet would be purely on Sanjeev's ability to allocate that capital at a valuation of around 1.1x book value assigning no value to Premier - I have no doubt that if this was the case, returns would be excellent). The other risk is the implied valuation of Premier at 0.18 per share (note: I know nothing about Premier other than what I noted above). If this implied valuation was lower (eg, taking it to another possible extreme, let's say 0.04 cents a share, the implied market cap for Premier at that valuation would be around $2 million or so, and if ony $8 million was raised - this would also be good as the bet would be purely on Sanjeev's ability to allocate that capital at a valuation of 1.25x book assigning no value to Premier).

Again, the above comments are based only on extremely superficial knowledge of Premier (I wouldn't even call it knowledge - just the revenues versus implied market cap) and the high-level way I am looking at this deal. If Premier is a huge success from a growth perspective going forward (where high growth requires very little capital investment to sustain it), or if there are hidden assets on its balance sheet, then much more value can be assigned to the Premier portion of the deal.

-----

Anyway, I have no doubt Sanjeev will be successful and that he will treat all shareholders fairly on a long-term basis while working diligently and honestly throughout.






 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: alertmeipp on September 14, 2014, 09:18:01 AM
One can assume Sanjeev will treat all comers fairly (including the current PDH shareholders who probably don't deserve much).

So, I have this proposal for the company name  Priendly and Fair Holdings (PFH) where P stands for Parsad  ;D.

cheers!
shalab

Would be fair if the PP priced same as MPIC's cost basis.
I will go all in.  ;D.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Otsog on September 14, 2014, 09:33:18 AM
I was watching this one before the PP news hit, because I saw from filings that Parsad was involved and figured this was his vehicle.  There were 100000 shares on offer at .06, but I'm a cheapass and thought a 20% premium over all the recent options grants and converts was too much.... My order at 0.055 wasn't filled. :)

I grabbed the 91,000 block @.06 :)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 14, 2014, 09:37:44 AM
Giant leaps there Parsad. On the Covestor front, I don't manage the site and it is only a financial services portfolio (no leverage or options) reflected there since Covestor started tracking results. I actually started with Covestor tracking back in 2007 or so when the site first launched and have been investing much longer. http://site.covestor.com/about-us to learn more about the company.

This was actually the most accurate statement made in the whole discussion, as you only show results from 2009, but operated from 2007...you were questioning my investing acumen and said that the whole thing smelled funny...buy my entire record is out there, while yours isn't.

The post response illustrates two things to me. One I was asking questions about the company and its prospects/financials. What I got back was redirected comments about my personal investment history and business acumen which is not only way out of line but also ridiculously inaccurate. Two, realization that none of my questions were answered directly and still no clarity to prospects and financials.

You should know better than anyone that I can only say certain things about a public company.  I cannot give material financial information to people where it has not been disclosed to other shareholders.  As such, you can slander me any way you feel, but I'm beholden to shareholders reading quarterly and annual filings 6-12 months out after you make such statements.

The comment on the Director post has nothing to do with you. It has to do with management as a Board issuing options and shares at $0.05 one month before a PPM at $0.18.  The other dilutive actions taken speak for themselves.

To attract someone of quality to assist in the turnaround, we had to make a sacrifice in compensation, since we didn't have cash sitting on hand to sign this person up.  Adding this individual changes the face of part of our business due to history and performance.  You would have suggested we sit there and do nothing!

If investors feel my addition, changes to the board, the addition of this other talented individual, all of the things happening at head office in the last 3 months, do not warrant the higher private placement price, they don't have to subscribe.  It's as simple as that.  None of these things existed at the company 3 months ago...they do today, including other things in the works.  The private placement price is based on these changes in our estimate.  Investors have every right to do what they think is prudent.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 14, 2014, 09:38:43 AM
One can assume Sanjeev will treat all comers fairly (including the current PDH shareholders who probably don't deserve much).

So, I have this proposal for the company name  Priendly and Fair Holdings (PFH) where P stands for Parsad  ;D.

cheers!
shalab

Would be fair if the PP priced same as MPIC's cost basis.
I will go all in.  ;D.

MPIC is participating in the private placement like any other partner.  We will be putting in the maximum we can of $1.5M.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 14, 2014, 01:21:09 PM
I grabbed the 91,000 block @.06
Nice job otsog!

Within less than five days the damn thing tripled.
You paid a market cap less than three million!

Sanjeev, how many months will it be until you can disclose more financial information?
Thanks.
I hope the Dow drops at least five percent this week about the Fed.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: TorontoRaptorsFan on September 15, 2014, 08:21:29 AM
Sanjeev,

You have always had a great reputation, and have been honest and fair with your dealings with myself and everyone on this board.
You will always have my support.

TRF
-> PDH Shareholder  :)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: TorontoRaptorsFan on September 15, 2014, 08:34:46 AM
I was watching this one before the PP news hit, because I saw from filings that Parsad was involved and figured this was his vehicle.  There were 100000 shares on offer at .06, but I'm a cheapass and thought a 20% premium over all the recent options grants and converts was too much.... My order at 0.055 wasn't filled. :)

I grabbed the 91,000 block @.06 :)

Nice job!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Laxputs on September 16, 2014, 10:51:51 AM
Does this seem reasonable:

PET/CT at 300k/year Net Income.
MRI at 300k/year Net Income.
Private placement funds of 9mm with 10% ROC for 900k/year Net Income.

1.5mm NI divided by 105.7mm shares.  .014 cents/share. 
.18 cents divided .014 cents is 13x multiple.

So roughly 13x multiple with excellent management, and having the 25%+ ownership in the starting from scratch Bermuda insurance business.

It would be exciting to get in on the ground floor here but I don't see a margin of safety. There seems to be too little information provided to properly assess downside, even if the company is very different from what it was a short time ago. Would love some more information, or maybe I'm missing something, before I buy based on "excellent management who will turn things around". 

Can we quantify growth potential in B.C. or China? Is there a timeline for returns from Bermuda insurance business? Is there any asset protection in the current share price?

It's very interesting, anyways.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Palantir on September 16, 2014, 12:40:36 PM
Sanjeev, can you disclose your investment performance with MPIC?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Mephistopheles on September 16, 2014, 01:18:55 PM
I think getting this is a jockey situation, and we're not going to find the answer in the numbers on whether it is a good buy or not. And the past performance is not indicative of the future at all, since Parsad will be diversifying away into other businesses/investments. Basing it on historical results is like investing (or not investing) in Berkshire when Buffett took over based on historical performance of the textile business.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Laxputs on September 16, 2014, 01:22:36 PM
Sanjeev, can you disclose your investment performance with MPIC?

I believe it was stated ~11% as of 2013, as per the thread on their 7th anniversary. This was ~2x the index performance if I recall correctly.

I think getting this is a jockey situation, and we're not going to find the answer in the numbers on whether it is a good buy or not. And the past performance is not indicative of the future at all, since Parsad will be diversifying away into other businesses/investments. Basing it on historical results is like investing (or not investing) in Berkshire when Buffett took over based on historical performance of the textile business.

I think this is over-simplifying it. If you received the investor letter, some numbers have been laid out. I am trying to make some rough calculations based on those numbers and would like some feedback from others if possible.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wellmont on September 16, 2014, 02:39:10 PM
Does this seem reasonable:

PET/CT at 300k/year Net Income.
MRI at 300k/year Net Income.
Private placement funds of 9mm with 10% ROC for 900k/year Net Income.

1.5mm NI divided by 105.7mm shares.  .014 cents/share. 
.18 cents divided .014 cents is 13x multiple.

So roughly 13x multiple with excellent management, and having the 25%+ ownership in the starting from scratch Bermuda insurance business.

It would be exciting to get in on the ground floor here but I don't see a margin of safety. There seems to be too little information provided to properly assess downside, even if the company is very different from what it was a short time ago. Would love some more information, or maybe I'm missing something, before I buy based on "excellent management who will turn things around". 

Can we quantify growth potential in B.C. or China? Is there a timeline for returns from Bermuda insurance business? Is there any asset protection in the current share price?

It's very interesting, anyways.

doesn't the 25% stake in Reinsurance Co come out of the $9m or no?

I would not count $900k as net income. potentially yes. practically no. I would count $9m as cash and investments in the valuation.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Palantir on September 16, 2014, 04:25:38 PM
Sanjeev, can you disclose your investment performance with MPIC?

I believe it was stated ~11% as of 2013, as per the thread on their 7th anniversary. This was ~2x the index performance if I recall correctly.


I mean the year-by-year returns.

Also, I guess this is a n00b question but are you planning on investing the company's balance sheet into equities or are you focusing on turning around the business' core operations?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 16, 2014, 05:02:27 PM
Sanjeev,

Can you schedule an investor day for shareholders before the annual meeting next year?
Of course, with your lawyers approval regarding the timing.
Shareholders are completely in the dark. I have a reasonable position but it's just  bet on you as the information is extremely scant at this point.
Thanks!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: nkp007 on September 16, 2014, 05:56:47 PM
This sounds like it's gonna be a tough group to impress, Sanjeev.

Maybe you should consider taking the company private ;D
Title: Re: PDH - Premier Diagnostic Health Services
Post by: maybe4less on September 16, 2014, 10:20:35 PM
How many MRI machines does the company have in China?

From the public material, it looks like there is only one. I'm trying to figure out how one scanner can do 1,200 scans per month. 40 per day just seems high given that it looks like these scans usually take 20-60 minutes.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 17, 2014, 07:33:11 PM
We're over 80% subscribed not including the over-subscription...so 67% subscribed of the total in about 48 hours.  Thanks for the support!  Glad to have you guys as shareholders!  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 17, 2014, 07:59:27 PM
"We're over 80% subscribed not including the over-subscription...so 67% subscribed of the total in about 48 hours.  Thanks for the support!  Glad to have you guys as shareholders!  Cheers!"

Great! I can no longer buy at 18 cents or below so I'm stopping for now.

My average cost basis is .184 and that is only because I bought the last block at .206 or I would have a cost basis of .17.
It's a small position though. Less than 100k shares.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: goldfinger on September 18, 2014, 09:38:38 AM
I got in and I am trying to get a bit more...
Excited to be partner with Sanjeev!

Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: benchmark on September 18, 2014, 09:06:44 PM
I got in and I am trying to get a bit more...
Excited to be partner with Sanjeev!

Cheers!

If you can get in at $0.18, is it better than the private placement, in the sense that you can sell anytime in the open market, rather that having to sell it to the company -- assuming that you are an U.S. person. I assume that you'll own the same percentage of the re-insurance venture as PP would.

Is there any plan in the future to register in the U.S. to make transaction easier?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: goldfinger on September 18, 2014, 09:13:24 PM
As far as I know Sanjeev has alluded multiple times to a listing on the NYSE or so... pretty soon.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: goldfinger on September 18, 2014, 09:16:47 PM
But what I am truly looking for is a partnership for a very very long time
Title: Re: PDH - Premier Diagnostic Health Services
Post by: goldfinger on September 18, 2014, 09:29:55 PM
Quote
As far as I know Sanjeev has alluded multiple times to a listing on the NYSE or so... pretty soon.

I meant TSX and available to americans. But PRDGF should do it for now with your US broker.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Palantir on September 19, 2014, 06:30:25 AM
But what I am truly looking for is a partnership for a very very long time

You can find many opportunities right here:

www.match.com
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ECCO on September 24, 2014, 08:27:32 AM
http://web.tmxmoney.com/article.php?newsid=70473869&qm_symbol=PDH:CNX

BURNABY, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) announces that the second tranche of a private placement offered by its subsidiary, Premier Diagnostic Center (Vancouver) Inc. (the "Subsidiary") closed on September 22, 2014. The second tranche was for a total of gross proceeds of $75,000, and the offering of $500,000 was fully subscribed.

The Subsidiary offered for sale, by way of private placement, up to 500,000 Class A Preferred Shares ("Subsidiary Shares") at $1.00 per share for aggregate gross proceeds of $500,000. Each of the Subsidiary Shares is convertible into twenty common shares of the Company ("Conversion Shares") for two years from the date of issuance. Declared and unpaid dividends on the Subsidiary Shares, payable by the Subsidiary, may also be converted into common shares of the Company at $0.05 per share.


The buyer of that private placement certainly made a good deal. The last trade on the stock was at .21$. It is like buying 2,100,000$ for 500,000$. A nice bonus of 1.6M$.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: karthikpm on September 24, 2014, 07:07:56 PM
Those were preferred shares. Second offering is common stock.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Redskin212 on September 24, 2014, 08:42:39 PM


"The buyer of that private placement certainly made a good deal. The last trade on the stock was at .21$. It is like buying 2,100,000$ for 500,000$. A nice bonus of 1.6M$."


Remember these Preferred Shares where originally announced back on July 31st well before any of the recent share activity happened.  Characterizing it as a "nice bonus of 1.6M$" is a little unfair as there was an awful lot of risk a couple of months ago.

http://www.theglobeandmail.com/globe-investor/news-sources/?mid=ccnm.20140731.201407310960572001
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Otsog on September 24, 2014, 11:06:27 PM
It was MPIC. Check the Sedi fillings. I doubt there people lining up to put $500k into a company on the verge of bankruptcy.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ECCO on September 25, 2014, 04:46:33 AM


"The buyer of that private placement certainly made a good deal. The last trade on the stock was at .21$. It is like buying 2,100,000$ for 500,000$. A nice bonus of 1.6M$."


Remember these Preferred Shares where originally announced back on July 31st well before any of the recent share activity happened.  Characterizing it as a "nice bonus of 1.6M$" is a little unfair as there was an awful lot of risk a couple of months ago.

http://www.theglobeandmail.com/globe-investor/news-sources/?mid=ccnm.20140731.201407310960572001

Yes, I agree that I did not used the good word by saying it was a "bonus". They certainly deserve that money for the job that has been made. On the other side, you said it was well before any share activity. It was just one month before the "share activity".
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on September 25, 2014, 11:26:13 AM
The preferred share offering was in relation to the previously announced (June 2nd) asset purchase agreement between the parent company and Burnaby clinic, so as to get the Burnaby clinic into an independent, decentralized position from the parent company.  We were willing to subscribe to the entire $500K, and yes, the clinic and company were still very much at risk without that financing, as we could not ramp up the clinic without the money. 

As we agreed to do the financing (in late July), a couple of employees said they wanted to participate, so we left $75K on the table for them.  They kept delaying and then finally backed out in early September.  We wanted to finish the raise to complete the asset purchase agreement.  There was no malice, intended bonus, or deception.  We simply wanted to fulfill the obligation we originally had committed to. 

Extraordinary how people read into things!  You guys do realize we are putting a lot more into the 18 cent private placement than our total commitment to date, right?  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: oddballstocks on September 25, 2014, 12:16:38 PM
The preferred share offering was in relation to the previously announced (June 2nd) asset purchase agreement between the parent company and Burnaby clinic, so as to get the Burnaby clinic into an independent, decentralized position from the parent company.  We were willing to subscribe to the entire $500K, and yes, the clinic and company were still very much at risk without that financing, as we could not ramp up the clinic without the money. 

As we agreed to do the financing (in late July), a couple of employees said they wanted to participate, so we left $75K on the table for them.  They kept delaying and then finally backed out in early September.  We wanted to finish the raise to complete the asset purchase agreement.  There was no malice, intended bonus, or deception.  We simply wanted to fulfill the obligation we originally had committed to. 

Extraordinary how people read into things!  You guys do realize we are putting a lot more into the 18 cent private placement than our total commitment to date, right?  Cheers!

I think this is a word to the wise for those trying to read intentions into corporate releases (Sears longs, looking at you).  Often in these things there isn't more than meets the eye, it's just a simple explanation with no conspiracy.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on September 26, 2014, 05:46:42 AM
Sanjeev,

I hope you will change the ability to withdraw from your managed fund to once a year for existing partners and maybe a 5 year lockup for new partners.
I think Buffett's setup was once a year in his partnership days.
The more sticky capital the better!
Hopefully you fold the fund under premier's umbrella.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on October 05, 2014, 08:01:32 AM
http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-closes-6m-first-tranche-of-private-placement-cnsx-pdh-1953277.htm

October 02, 2014 18:40 ET

Premier Diagnostic Health Services Inc. Closes $6M First Tranche of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 2, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.
Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce that it has closed the first tranche of its non-brokered private placement offering (the "Offering") of common shares of the Company ("Shares") of up to 40,000,000 Shares at $0.18 per Share for aggregate gross proceeds of up to $7,200,000. The first tranche consisted of 34,108,028 Shares for aggregate gross proceeds of $6,139,445.04, including 415,000 Shares issued in settlement of debt. The Shares will be subject to a hold period expiring on February 3, 2015. No finder's fees or commissions were paid in connection with the Offering.
The net proceeds of the Offering will be used to fund expansion of the Company's premier diagnostic medical clinics in China and Canada, as well as for general working capital and investment purposes. The Company anticipates that the resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth. The Company anticipates the second tranche of the Offering will close on or about October 15, 2014.
On September 23, 2014 the Company announced the closing of the second tranche of a private placement of convertible preferred shares of its subsidiary company, Premier Diagnostic Center (Vancouver) Inc. The Company wishes to highlight that the private placement of the subsidiary company was originally announced on July 31, 2014 and the conversion price of the subsidiary's preferred shares was based on the market price of the Company's common shares at that time.
The 415,000 Common shares issued as debt settlement were issued at a deemed issue price of $0.18 in settlement of debt totalling $74,700. The creditor is an insider of the Company.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Hawks on October 06, 2014, 08:05:17 AM
Pleased to be riding this jockey.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: karthikpm on October 18, 2014, 10:04:57 AM
Did the second tranche close?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on October 18, 2014, 11:28:55 AM
http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-closes-second-tranche-private-placement-40000000-cnsx-pdh-1958795.htm

Premier Diagnostic Health Services Inc. Closes Second Tranche of Private Placement of 40,000,000 Common Shares ($7,200,000) and Over-Allotment Option of 4,588,558 Common Shares ($825,900.45)
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 17, 2014) -
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) is pleased to announce that it has closed the second tranche of its non-brokered private placement offering (the "Offering") of common shares of the Company ("Shares") of up to 40,000,000 Shares at $0.18 per Share for aggregate gross proceeds of up to $7,200,000. The Company also closed its Over Allotment Option of 4,588,558 shares for gross proceeds of $825,900.45. Total proceeds of the Offering and Over Allotment Option were $8,025,900.40. No finder's fees or commissions were paid in connection with the Offering or the Over Allotment.

The net proceeds of the Offering will be used to fund expansion of the Company's premier diagnostic medical clinics in China and Canada, as well as for general working capital and investment purposes. The Company anticipates that the resulting capitalization combined with new strategies to deliver earnings will be adequate to support growth.

Did the second tranche close?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on October 21, 2014, 04:57:29 PM
Hi Sanjeev,

How many basic and fully diluted shares are outstanding? There was also a conversion that happened today so I want to get a better understanding of the share count.  I would appreciate some assistance on it.

Tks,
S
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Uccmal on October 21, 2014, 08:02:03 PM
Hi Sanjeev,

How many basic and fully diluted shares are outstanding? There was also a conversion that happened today so I want to get a better understanding of the share count.  I would appreciate some assistance on it.

Tks,
S

I am thinking we will see a Quarterly report at some point soon. 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on October 22, 2014, 12:10:20 AM
Hi Sanjeev,

How many basic and fully diluted shares are outstanding? There was also a conversion that happened today so I want to get a better understanding of the share count.  I would appreciate some assistance on it.

Tks,
S

You can assemble the fully-diluted shares outstanding from the last quarterly report, plus all of the press releases since. 

Essentially, on a fully-diluted basis, you would have had about 92M shares outstanding if all options/debt were converted before the private placement.  The private placement was aiming to raise $9M with 50M shares issued.  If you check the press release, we were a little short of that total amount, so that will give you the rough, but fairly accurate, number.

I am thinking we will see a Quarterly report at some point soon.

We have 90 days to file the year-end report from the fiscal year-end...September 30th.  We have 60 days to file the 1st quarter report...December 31st.  That should give you some idea when the next reports can be expected to be released.  The latter would be more indicative of progress than the former, and subsequent reports thereafter will be more useful on a comparative basis. 

Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Redskin212 on October 24, 2014, 02:48:16 PM

Premier Diagnostic Health Services Inc. Announces Securities Issuance

13:36 EDT Friday, October 24, 2014

BURNABY, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2014) - Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE:PDH) announces that it has issued a total of 9,196,885 Common shares following receipt of notices of warrant exercise from certain warrantholders of the Company. A total of 9,196,885 Common shares are issuable upon the exercise. All the warrantholders are insiders of the Company and are subject to a hold period expiring on February 25, 2015.

Following the exercise, Corner Market Capital Corp. ("CMCC"), an insider of the Company, indirectly owns and exercises control and direction over 45,707,935 Common shares of the Company, being 35.09% of the issued and outstanding Common shares on an undiluted basis. CMCC is a private company of which Sanjeev Parsad and Alnesh Mohan are majority shareholders and directors and officers. Mr. Parsad is the President, CEO and a director of Premier. Mr. Mohan is a director of Premier.


Looks like there is about 130 million shares o/s.  CMCC's shares held 45,707,935 divided by 35.09%.



http://www.theglobeandmail.com/globe-investor/news-sources/?mid=ccnm.20141024.201410240974744001
Title: Re: PDH - Premier Diagnostic Health Services
Post by: PLynchJr on November 04, 2014, 12:56:37 PM
PRDGF down 25.69% today.  Any news?

 :o
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on November 04, 2014, 01:02:50 PM
PRDGF down 25.69% today.  Any news?

 :o

Yes, that was me.  I was able to buy a very small amount for $0.0903 and $0.1166 today.  Not sure why someone sold it to me for that.

Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on November 18, 2014, 01:55:09 PM
http://thecse.ca/cmsAssets/docs/Filings/2014/2014_11_18_15_32_13_pdh_PDHS_-_News_Release_announcing_Reinsurance_Investment_v2_Final.pdf

November 18, 2014 Vancouver, B.C.
NEWS RELEASE
PREMIER DIAGNOSTIC HEALTH SERVICES INC.
ANNOUNCES SHARE PURCHASE
Premier Diagnostic Health Services Inc. ("Premier" or the "Company") (CSE: PDH) announces that
it intends to acquire common shares of the parent company of a reinsurance company registered
in Bermuda. The purchase price of the common shares is USD$0.50 per common share. Premier
intends to acquire up to USD$1.505M worth of shares, and intends to hold the shares for
investment purposes only. The purchase price would be paid in cash.
The reinsurance company underwrites various reinsurance transactions and collateralizes its
obligations through the issuance of insurance-linked securities ("ILSs"). The ILSs are offered to
third party investors, and the capital from the sale of the ILSs is used to fund the reinsurance
business.
About Premier Diagnostic Health Services Inc.
Premier is a Canadian company that provides, through its subsidiaries, advanced medical
diagnostic tools using PET/CT technology and/or MRI technology and related diagnostic skills in
Canada and in the People's Republic of China, in partnership with local medical professionals,
public and private investors, hospitals and clinics. The Company’s mission is to provide
physicians and other health care professionals with exceptional diagnostic information that will
assist them in making medical decisions that lead to better outcomes for their patients. The
Company’s approach involves building long-term relationships regarding management, quality,
and financial services that are necessary to build, operate and grow the diagnostic capacity and
capability of hospitals and clinics worldwide.
On behalf of the Board of Directors
"Sanjeev Parsad"
Sanjeev Parsad
President, CEO and Director
Title: Re: PDH - Premier Diagnostic Health Services
Post by: OracleofCarolina on November 18, 2014, 02:47:52 PM
I am so excited for Sanjeev and looking forward to watching this company evolve!

Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: bargainman on November 20, 2014, 09:38:43 PM
Has anybody in the USA actually successfully bought PDH shares?  It doesn't look like the CNSX is available through interactive brokers USA. I've looked at the product page
https://www.interactivebrokers.com/en/index.php?f=1563

But no luck finding it. If I look at the exchange memberships below looks like interactive brokers Canada is a member but not USA..

https://www.interactivebrokers.com/en/?f=%2Fen%2Fgeneral%2Fabout%2Fexchange_memberships.php

Are there any other brokers that Trade the stock from US?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: fareastwarriors on November 20, 2014, 10:07:45 PM
Has anybody in the USA actually successfully bought PDH shares?  It doesn't look like the CNSX is available through interactive brokers USA. I've looked at the product page
https://www.interactivebrokers.com/en/index.php?f=1563

But no luck finding it. If I look at the exchange memberships below looks like interactive brokers Canada is a member but not USA..

https://www.interactivebrokers.com/en/?f=%2Fen%2Fgeneral%2Fabout%2Fexchange_memberships.php

Are there any other brokers that Trade the stock from US?

Others have mentioned the ticker: PRDGF .
Title: Re: PDH - Premier Diagnostic Health Services
Post by: PLynchJr on November 21, 2014, 05:25:04 AM
I've bought PRDGF through Fidelity with no problems.  Volume is very low so it takes some patience to build a position.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Libs on November 21, 2014, 09:11:04 AM
I've bought PRDGF through Fidelity with no problems.  Volume is very low so it takes some patience to build a position.

Tell me about it! Drips and drabs. I expect it will be worth the effort:)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: bargainman on November 21, 2014, 08:17:26 PM
tried that still no go..  might have to checkk another broker
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on November 24, 2014, 06:35:54 AM
tried that still no go..  might have to checkk another broker

Try Fidelity.  I've been able to pick up some shares using PRDGF with Fidelity.  But like the others have said it is slow going.  You put in a limit order and it will sit there for days and days.  Sometimes I'll check it and see the order partially filled 100 or 200 shares (at 16cents/share that is almost nothing).
I've managed to get about 71K shares so far at an average cost basis of $0.163
Title: Re: PDH - Premier Diagnostic Health Services
Post by: karthikpm on November 24, 2014, 07:00:36 AM
What does Fidelity charge per transaction ? 7.95?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on November 24, 2014, 07:22:54 AM
What does Fidelity charge per transaction ? 7.95?

Yes.  If you put in an order and it takes multiple trades to fill it, you are charged $7.95 only once for all of the transactions that day.  So if it is filled over multiple days you will be charged $7.95 for each day that there are shares on the order traded.  It sucks for non-liquid securities like this.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on November 24, 2014, 01:54:33 PM
 Medical diagnostic tool company to invest in reinsurance and ILS (http://www.artemis.bm/blog/2014/11/20/medical-diagnostic-tool-company-to-invest-in-reinsurance-and-ils/)

"Very interesting. A company or corporation has not matched the typical profile of an ILS or reinsurance linked investor in the past, but perhaps this is something we may see more of. Typically we expect ILS investors to be large institutions, pension funds, endowments, family offices, private banks, insurers, hedge funds etc.

However, companies and corporations often have capital that they invest in various asset classes, sometimes this capital is akin to float except it comes from their sales cycle. They seek to invest this to make the best profit they can while the capital is not required within the business. For companies seeking to invest their capital in this way, ILS and reinsurance could be a very good fit.

We haven’t yet been able to identify who the reinsurance company is that Premier Diagnostic Health Services intends to invest in. That information may become available, if it is a listed entity, once the investment is complete. It is also possible that this is a little more than just a passive investment and that the firm actually sees the benefit in becoming more involved in the reinsurer it is investing in."
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on December 15, 2014, 04:06:16 AM
Sanjeev,  we are waiting...

We have 90 days to file the year-end report from the fiscal year-end...September 30th.  We have 60 days to file the 1st quarter report...December 31st.  That should give you some idea when the next reports can be expected to be released.  The latter would be more indicative of progress than the former, and subsequent reports thereafter will be more useful on a comparative basis. 

Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 15, 2014, 10:31:06 AM
Sanjeev,  we are waiting...

We have 90 days to file the year-end report from the fiscal year-end...September 30th.  We have 60 days to file the 1st quarter report...December 31st.  That should give you some idea when the next reports can be expected to be released.  The latter would be more indicative of progress than the former, and subsequent reports thereafter will be more useful on a comparative basis. 

Cheers!

We are working on the annual report as we speak...goes to the audit committee in the next week, and we expect to file before Christmas. 

You'll also see some more disclosure on the insurance business shortly.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: benchmark on December 16, 2014, 02:27:09 PM
tried that still no go..  might have to checkk another broker

Try Fidelity.  I've been able to pick up some shares using PRDGF with Fidelity.  But like the others have said it is slow going.  You put in a limit order and it will sit there for days and days.  Sometimes I'll check it and see the order partially filled 100 or 200 shares (at 16cents/share that is almost nothing).
I've managed to get about 71K shares so far at an average cost basis of $0.163

I've been able to build a position via TDAmeritrade, very slowly though.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 16, 2014, 03:55:30 PM
Here you go...read the latest press release:

http://web.tmxmoney.com/article.php?newsid=72335807&qm_symbol=PDH:CNX

http://www.artemis.bm/blog/2014/12/16/sequant-re-launches-ils-platform-aims-to-ease-investor-access-to-risk/

http://mobile.royalgazette.com/article/20141216/BUSINESS04/141219781&template=mobileart

Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Hawks on December 16, 2014, 04:25:46 PM
Getting more and more interesting. I like the direction Parsad is heading.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: compoundinglife on December 16, 2014, 04:26:38 PM
Here you go...read the latest press release:

http://web.tmxmoney.com/article.php?newsid=72335807&qm_symbol=PDH:CNX

http://www.artemis.bm/blog/2014/12/16/sequant-re-launches-ils-platform-aims-to-ease-investor-access-to-risk/

http://mobile.royalgazette.com/article/20141216/BUSINESS04/141219781&template=mobileart

Cheers!

Interesting idea. It sounds like this is a totally new model for connecting investors to insurance risk (not that ILS is new but allowing smaller investors to participate is new)?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: karthikpm on December 17, 2014, 05:31:51 PM
Here you go...read the latest press release:

http://web.tmxmoney.com/article.php?newsid=72335807&qm_symbol=PDH:CNX

http://www.artemis.bm/blog/2014/12/16/sequant-re-launches-ils-platform-aims-to-ease-investor-access-to-risk/

http://mobile.royalgazette.com/article/20141216/BUSINESS04/141219781&template=mobileart

Cheers!

Interesting idea. It sounds like this is a totally new model for connecting investors to insurance risk (not that ILS is new but allowing smaller investors to participate is new)?

Sanjeev

ILS seems hard for me to understand.  Will your annual report include some " ILS for dummies" explanation ?

Thanks

Karthik
Title: Re: PDH - Premier Diagnostic Health Services
Post by: OracleofCarolina on December 17, 2014, 05:39:08 PM
Here you go...read the latest press release:

http://web.tmxmoney.com/article.php?newsid=72335807&qm_symbol=PDH:CNX

http://www.artemis.bm/blog/2014/12/16/sequant-re-launches-ils-platform-aims-to-ease-investor-access-to-risk/

http://mobile.royalgazette.com/article/20141216/BUSINESS04/141219781&template=mobileart

Cheers!

Interesting idea. It sounds like this is a totally new model for connecting investors to insurance risk (not that ILS is new but allowing smaller investors to participate is new)?

Sanjeev

ILS seems hard for me to understand.  Will your annual report include some " ILS for dummies" explanation ?

Thanks

Karthik

+1

Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on December 17, 2014, 05:47:00 PM
Agreed! 


Here you go...read the latest press release:

http://web.tmxmoney.com/article.php?newsid=72335807&qm_symbol=PDH:CNX

http://www.artemis.bm/blog/2014/12/16/sequant-re-launches-ils-platform-aims-to-ease-investor-access-to-risk/

http://mobile.royalgazette.com/article/20141216/BUSINESS04/141219781&template=mobileart

Cheers!

Interesting idea. It sounds like this is a totally new model for connecting investors to insurance risk (not that ILS is new but allowing smaller investors to participate is new)?

Sanjeev

ILS seems hard for me to understand.  Will your annual report include some " ILS for dummies" explanation ?

Thanks

Karthik

+1
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 18, 2014, 12:51:54 AM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Hawks on December 18, 2014, 05:20:04 AM
Thank you Sanjeev. That helps to clarify things to some degree.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: adesigar on December 18, 2014, 11:27:38 AM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 18, 2014, 12:48:30 PM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?

The way SequantRe is structured, is that it gets a percentage of the profits from any investment gain from the underlying collateralized capital.  That only happens two ways...good investments and good underwriting.  If you have poor underwriting, that can easily wipe out any investment gains.  Thus we are incentivized to make good underwriting decisions.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on December 19, 2014, 07:23:12 AM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?

The way SequantRe is structured, is that it gets a percentage of the profits from any investment gain from the underlying collateralized capital.  That only happens two ways...good investments and good underwriting.  If you have poor underwriting, that can easily wipe out any investment gains.  Thus we are incentivized to make good underwriting decisions.  Cheers!

I'm trying to understand this as well and if there is any moral hazard here.   So you are limiting you're risk to having zero gains, but you can not have underwriting nor investment losses? Doesn't this still give a lot more incentive for bad/risky underwriting than if loses could be realized as well as simply not having gains?  You could view writing a lot of contracts as a good asymmetrical bet, if it goes one way you win, if it goes the other you don't lose.  I'm not saying you or SequantRe would think that way, but a someone in the same business or some future management could.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 19, 2014, 01:30:27 PM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?

The way SequantRe is structured, is that it gets a percentage of the profits from any investment gain from the underlying collateralized capital.  That only happens two ways...good investments and good underwriting.  If you have poor underwriting, that can easily wipe out any investment gains.  Thus we are incentivized to make good underwriting decisions.  Cheers!

I'm trying to understand this as well and if there is any moral hazard here.   So you are limiting you're risk to having zero gains, but you can not have underwriting nor investment losses? Doesn't this still give a lot more incentive for bad/risky underwriting than if loses could be realized as well as simply not having gains?  You could view writing a lot of contracts as a good asymmetrical bet, if it goes one way you win, if it goes the other you don't lose.  I'm not saying you or SequantRe would think that way, but a someone in the same business or some future management could.


No, you're not trying to limit your losses to zero gains.  You want to maximize underwriting profit and investment gains...that's how you are compensated...by those two components.  If you take shortcuts in either side, it comes back to bite you in future profits.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on December 19, 2014, 02:15:13 PM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?

The way SequantRe is structured, is that it gets a percentage of the profits from any investment gain from the underlying collateralized capital.  That only happens two ways...good investments and good underwriting.  If you have poor underwriting, that can easily wipe out any investment gains.  Thus we are incentivized to make good underwriting decisions.  Cheers!

I'm trying to understand this as well and if there is any moral hazard here.   So you are limiting you're risk to having zero gains, but you can not have underwriting nor investment losses? Doesn't this still give a lot more incentive for bad/risky underwriting than if loses could be realized as well as simply not having gains?  You could view writing a lot of contracts as a good asymmetrical bet, if it goes one way you win, if it goes the other you don't lose.  I'm not saying you or SequantRe would think that way, but a someone in the same business or some future management could.


No, you're not trying to limit your losses to zero gains.  You want to maximize underwriting profit and investment gains...that's how you are compensated...by those two components.  If you take shortcuts in either side, it comes back to bite you in future profits.  Cheers!

That's another way of saying management is extremely important.  Therefore, SequantRe isn't a business any idiot can run (long term anyway).
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 19, 2014, 02:25:22 PM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?

The way SequantRe is structured, is that it gets a percentage of the profits from any investment gain from the underlying collateralized capital.  That only happens two ways...good investments and good underwriting.  If you have poor underwriting, that can easily wipe out any investment gains.  Thus we are incentivized to make good underwriting decisions.  Cheers!

I'm trying to understand this as well and if there is any moral hazard here.   So you are limiting you're risk to having zero gains, but you can not have underwriting nor investment losses? Doesn't this still give a lot more incentive for bad/risky underwriting than if loses could be realized as well as simply not having gains?  You could view writing a lot of contracts as a good asymmetrical bet, if it goes one way you win, if it goes the other you don't lose.  I'm not saying you or SequantRe would think that way, but a someone in the same business or some future management could.


No, you're not trying to limit your losses to zero gains.  You want to maximize underwriting profit and investment gains...that's how you are compensated...by those two components.  If you take shortcuts in either side, it comes back to bite you in future profits.  Cheers!

That's another way of saying management is extremely important.  Therefore, SequantRe isn't a business any idiot can run (long term anyway).

Correct!  We've got two very smart people with a lot of experience running Sequant...Guy & David.  They understand risk, they are actuaries deep down, and are principled.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: simplefocus on December 28, 2014, 07:11:55 PM
I looked up PRDGF in US and found 2 OTC stocks, PRDGF.PK and PRDGF, with 2 different trading prices.  Which one do you buy? 

Can someone tell me your estimated intrinsic value for PDH and how you came up with that value?  Thanks. 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Uccmal on December 29, 2014, 10:13:29 AM
I looked up PRDGF in US and found 2 OTC stocks, PRDGF.PK and PRDGF, with 2 different trading prices.  Which one do you buy? 

Can someone tell me your estimated intrinsic value for PDH and how you came up with that value?  Thanks. 

Intrinsic value = Sanjeev Parsad.  He is the only reason any of us invested.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Hawks on December 29, 2014, 12:05:19 PM
+1
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Partner24 on December 29, 2014, 12:47:14 PM
Agree with Uccmal.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Crip1 on December 29, 2014, 01:00:23 PM
I looked up PRDGF in US and found 2 OTC stocks, PRDGF.PK and PRDGF, with 2 different trading prices.  Which one do you buy? 

Can someone tell me your estimated intrinsic value for PDH and how you came up with that value?  Thanks. 

Intrinsic value = Sanjeev Parsad.  He is the only reason any of us invested.


Does that mean that PDH has an attractive P/E (specifically, Parsad/Enterprise) ratio?



-Crip
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Vish_ram on December 29, 2014, 01:01:55 PM
I looked up PRDGF in US and found 2 OTC stocks, PRDGF.PK and PRDGF, with 2 different trading prices.  Which one do you buy? 

Can someone tell me your estimated intrinsic value for PDH and how you came up with that value?  Thanks.

How can you ask for intrinsic value in a value forum when you've a brand new management, capital and line of biz?

Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 29, 2014, 02:23:41 PM
Can someone tell me your estimated intrinsic value for PDH and how you came up with that value?

Does that mean that PDH has an attractive P/E (specifically, Parsad/Enterprise) ratio?


If Premier is a nine-inning baseball game, you've only seen one pitch so far in the entire game! 

The last six months have been busy, but you've seen nothing yet.  Premier five, ten, fifteen, twenty years out will look very different than what it looks like today.  Only the name will have any discernible similarity, as will my compensation!  Cheers!   
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Uccmal on December 29, 2014, 03:44:04 PM
Can someone tell me your estimated intrinsic value for PDH and how you came up with that value?

Does that mean that PDH has an attractive P/E (specifically, Parsad/Enterprise) ratio?


If Premier is a nine-inning baseball game, you've only seen one pitch so far in the entire game! 

The last six months have been busy, but you've seen nothing yet.  Premier five, ten, fifteen, twenty years out will look very different than what it looks like today.  Only the name will have any discernible similarity, as will my compensation!  Cheers!   

PE -"Parsad Enterprises - nice ring to it. 

" Only the name will have any discernible similarity, as will my compensation!". That is the intrinsic value! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: shalab on December 29, 2014, 05:56:56 PM

PDH => Parsad's Dhandho Holdings  :D

One can be certain that ethically, there won't be any issues with PDH.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: bookie71 on December 29, 2014, 07:49:42 PM
Parsad,
When will you license your name to the company?
 ;D
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on December 30, 2014, 05:20:35 AM
Is tomorrow the deadline for the latest financial report?
Thanks.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on December 30, 2014, 08:26:16 AM
Is tomorrow the deadline for the latest financial report?
Thanks.

No, it's actually January 28th...120 days from the year end...on the CSE and TSXV.  I was originally mistaken thinking it was 90 days...TSX big board.  But we will be filling in early January since we are pretty much done.

We had almost everything wrapped up before Christmas, but a couple of audit items were delayed.  We felt that we wanted to give the audit committee adequate time to review everything, so we put it off till after the holidays, otherwise they would have only had 2-3 days to review, rather than the full week we had originally planned.  Cheers! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on January 05, 2015, 04:36:59 PM
I'm hoping the filing comes out this week?
It'll be interesting to see the progress thus far.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Partner24 on January 12, 2015, 09:17:05 AM
Well, it seems that the investors community think that PDH intrinsic value has almost doubled since a few months...
Title: Re: PDH - Premier Diagnostic Health Services
Post by: tombgrt on January 12, 2015, 02:11:22 PM
Well, it seems that the investors community think that PDH intrinsic value has almost doubled since a few months...

Haha yeah.

I do wonder about sentiment if people claim intrinsic value is simply equal to Sanjeev Parsad.
He is indeed the only reason anyone is invested in this and imo on it's own, that is imprudent.

Full disclosure: I like Parsad just as much as the next guy and I believe he's a great business man and investor.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Partner24 on January 12, 2015, 03:56:27 PM
Well, it seems that the investors community think that PDH intrinsic value has almost doubled since a few months...

Haha yeah.

I do wonder about sentiment if people claim intrinsic value is simply equal to Sanjeev Parsad.
He is indeed the only reason anyone is invested in this and imo on it's own, that is imprudent.

Full disclosure: I like Parsad just as much as the next guy and I believe he's a great business man and investor.

So Sanjeev popularity has nearly doubled in value since a few months. At this pace, in 10 years, girls will run after him when he'll walk in the street.  ;)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: benchmark on January 13, 2015, 01:18:09 PM
Well, it seems that the investors community think that PDH intrinsic value has almost doubled since a few months...

Haha yeah.

I do wonder about sentiment if people claim intrinsic value is simply equal to Sanjeev Parsad.
He is indeed the only reason anyone is invested in this and imo on it's own, that is imprudent.

Full disclosure: I like Parsad just as much as the next guy and I believe he's a great business man and investor.

So Sanjeev popularity has nearly doubled in value since a few months. At this pace, in 10 years, girls will run after him when he'll walk in the street.  ;)

0.24 Up 0.04(20.65%) -- this is what Parsad can do on a market down day :)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on January 13, 2015, 06:44:30 PM
Ugh, last I heard from Sanjeev he said early January to file as it was pretty much done.
I guess now mid- late Jan?
Thanks!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on January 13, 2015, 09:19:34 PM
Ugh, last I heard from Sanjeev he said early January to file as it was pretty much done.
I guess now mid- late Jan?
Thanks!

My apologies!  Once the auditor and audit committee start updating tax notes, etc, it drags out.  Everything is done, but they also want to provide pro-forma numbers in the MD&A, amongst other additional disclosures...so that's what is taking so long now.

Don't expect too much in the annual report.  I took over as CEO a month before the year-end.  The pro-forma will give you some idea, but the comparative between the annual report and 1st Q 2015, 2nd Q 2015, etc will be much more significant. 

I'll also be putting out an annual letter in the next 60 days, so hopefully that will add a fair amount of color depending on what I can/cannot say at that time.  Originally, I wanted to write it now, but I'm restricted on the color I can give you guys until certain things are executed and disclosed.  I expect those things to be underway within the next 60 days, so I should be able to talk about it in the letter.  Thanks for your patience!  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: goldfinger on January 19, 2015, 01:51:19 PM
Quote
He is indeed the only reason anyone is invested in this and imo on it's own, that is imprudent.

There was a full description of the business(es) and immediate opportunities/transformations during the private placement offering. Did you take a look?

Sanjeev estimated fair value without the reinsurance business option and I think tried to give a very good entry point for the people subscribing (heck his fund invested the max amount at that price)... he wants them as partners for the long run.
He has access to more permanent capital now and for having followed him during the 2007 to 2013 time period in the thick of this last crisis and beyond, I strongly believe that intrinsic value is far away from fair value already today... but I agree with staying relatively disciplined for new entry points.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: wescobrk on January 27, 2015, 06:02:54 PM
Deadline is tomorrow to file.
Hi Sanjeev,
Will it be posted in the morning?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on January 27, 2015, 07:18:31 PM
It's filed. Check out www.sedar.com. I am reading it right now.

Deadline is tomorrow to file.
Hi Sanjeev,
Will it be posted in the morning?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on January 27, 2015, 08:01:21 PM
It's filed. Check out www.sedar.com. I am reading it right now.

Deadline is tomorrow to file.
Hi Sanjeev,
Will it be posted in the morning?

Please read the MD&A as well.  It will give a clearer picture of what is happening...in particular the included pro-forma statement. 

The year-end was about a month after I was appointed CEO...you'll see a lot more changes in the financials quarter by quarter in 2015.  Cheers and thanks to our shareholders and supporters!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Libs on January 28, 2015, 05:04:01 PM
can someone link these? I get a 404 message from the PDH website and SEDAR is crushing my soul :(
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Uccmal on January 28, 2015, 05:48:01 PM
can someone link these? I get a 404 message from the PDH website and SEDAR is crushing my soul :(

Go to Sedar, Hit Company filings.  Type in Premier Diagnostic.  Fill out the bot blocker - I agree thing.  All the filings are there.  Even one typo will null your search - it is not the least bit intuitive.  It took me several shots to pull the filings.  The filings appear to be by type rather than date. 

The Md&a is down about 20-30 filings. 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Junto on January 28, 2015, 06:39:05 PM
Here you go. 09.30.14 Audit and MD&A.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Libs on January 28, 2015, 08:47:05 PM
Here you go. 09.30.14 Audit and MD&A.
Thank you!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: augustabound on January 29, 2015, 12:51:59 AM
The filings appear to be by type rather than date.

There's an option to show results by date under the company name search box.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: CONeal on January 29, 2015, 03:45:45 PM
I have a question and would like Parsad to answer if possible.

What is the reasoning behind "NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA" in your press releases?

Premier Diagnostic Health Services Inc. Announces Annual Fiscal 2014 Results






VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on January 29, 2015, 04:00:52 PM
I have a question and would like Parsad to answer if possible.

What is the reasoning behind "NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA" in your press releases?

Premier Diagnostic Health Services Inc. Announces Annual Fiscal 2014 Results






VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

It's a disclosure that Canadian public companies put in, because generally if you want the information to be disclosed in the U.S., the security has to be registered under the Securities Act of 1933...which gets far more expensive!  So, they put that disclaimer in and circulate to Canadian newswires, but a lot of Canadian releases get picked up by Yahoo, Google, etc.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: OracleofCarolina on February 12, 2015, 03:47:27 PM
These types of annuoncements usually make me nervous, in this case I have no concerns


Premier Diagnostic Health Services Inc.,a medical diagnostics company, announces that it has changed its auditor. A. Chan and Company, Chartered Accountants ("Predecessor Auditor") has resigned effective as of February 12, 2015 and Davidson & Company LLP, Chartered Accountants (the "Successor Auditor") has been appointed as the Company's auditor effective February 12, 2015 until the close of the next annual general meeting of the Company.
The Predecessor Auditor has not expressed a modified opinion in its reports on any of the Company's financial statements during the period commencing on October 1, 2012 and ending on February 12, 2015. In the opinion of the Board of Directors of the Company no “reportable event,” as defined in National Instrument 51-102, has occurred in connection with the audits of the two most recently completed fiscal years of the Company, or for the period from the most recently completed period for which the Predecessor Auditor issued an audit report in respect of the Company and the date of this news release.
The Company's audit committee and the board of directors of the Company have approved the resignation of the Predecessor Auditor. A reporting package has been filed with the regulators and will be included in the management
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on February 12, 2015, 04:17:14 PM
These types of annuoncements usually make me nervous, in this case I have no concerns


Premier Diagnostic Health Services Inc.,a medical diagnostics company, announces that it has changed its auditor. A. Chan and Company, Chartered Accountants ("Predecessor Auditor") has resigned effective as of February 12, 2015 and Davidson & Company LLP, Chartered Accountants (the "Successor Auditor") has been appointed as the Company's auditor effective February 12, 2015 until the close of the next annual general meeting of the Company.
The Predecessor Auditor has not expressed a modified opinion in its reports on any of the Company's financial statements during the period commencing on October 1, 2012 and ending on February 12, 2015. In the opinion of the Board of Directors of the Company no “reportable event,” as defined in National Instrument 51-102, has occurred in connection with the audits of the two most recently completed fiscal years of the Company, or for the period from the most recently completed period for which the Predecessor Auditor issued an audit report in respect of the Company and the date of this news release.
The Company's audit committee and the board of directors of the Company have approved the resignation of the Predecessor Auditor. A reporting package has been filed with the regulators and will be included in the management

Ha, ha!  We probably should have included that we chose to change auditors, but we didn't even think of it.  We just needed a mid-size firm to help us with everything that is going on and about to happen in the next few months.  Anthony was pretty good, but a very small shop. 

If you did not see it already, on January 30th, we filed on SEDAR regarding our AGM date.  That is a combined SGM AGM, but I can't discuss what will be happening in the SGM.  The circular will be coming out towards the end of the month discussing the meeting.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on February 24, 2015, 08:42:40 AM
Hi Sanjeev,  What's the status of your annual letter?  We are all definitely interested in the additional commentary on the progress of the business e.g. TSX listing, expansion of imagine business in china etc...

Tks


I'll also be putting out an annual letter in the next 60 days, so hopefully that will add a fair amount of color depending on what I can/cannot say at that time.  Originally, I wanted to write it now, but I'm restricted on the color I can give you guys until certain things are executed and disclosed.  I expect those things to be underway within the next 60 days, so I should be able to talk about it in the letter.  Thanks for your patience!  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on February 24, 2015, 09:23:46 AM
Hi Sanjeev,  What's the status of your annual letter?  We are all definitely interested in the additional commentary on the progress of the business e.g. TSX listing, expansion of imagine business in china etc...

Tks


I'll also be putting out an annual letter in the next 60 days, so hopefully that will add a fair amount of color depending on what I can/cannot say at that time.  Originally, I wanted to write it now, but I'm restricted on the color I can give you guys until certain things are executed and disclosed.  I expect those things to be underway within the next 60 days, so I should be able to talk about it in the letter.  Thanks for your patience!  Cheers!

The annual letter will go out with the SAGM circular to shareholders.  That meeting is set for April 2nd.  Once that circular is out, I will also put it on the website.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: rkbabang on March 02, 2015, 11:27:23 AM
Since no one else has posted this yet.  There are two items that came up in my newsfeed:

Premier Diagnostic Health Services Inc. Proposes Change of Business to an Investment Company (http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-proposes-change-business-investment-company-cnsx-pdh-1996402.htm)

"The Company proposes to change its name to "Premier Diversified Holdings Inc." following the Proposed COB, and will seek to retain its trading symbol of "PDH,"

Premier Diagnostic Health Services Inc. Share Issuance (http://www.digitaljournal.com/pr/2479144)

"announces the issuance of 100,000 common shares of the Company ("Shares") at a deemed price of $0.25 per Share to Sanjeev Parsad, President, CEO and director of the Company as a performance bonus awarded by the Company."
Title: Re: PDH - Premier Diagnostic Health Services
Post by: bookie71 on March 02, 2015, 11:50:01 AM
Thanks for posting
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Otsog on March 02, 2015, 07:46:17 PM
Q1 up on Sedar
Title: Re: PDH - Premier Diagnostic Health Services
Post by: benchmark on March 02, 2015, 08:22:44 PM
Since no one else has posted this yet.  There are two items that came up in my newsfeed:

Premier Diagnostic Health Services Inc. Proposes Change of Business to an Investment Company (http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-proposes-change-business-investment-company-cnsx-pdh-1996402.htm)

"The Company proposes to change its name to "Premier Diversified Holdings Inc." following the Proposed COB, and will seek to retain its trading symbol of "PDH,"

Premier Diagnostic Health Services Inc. Share Issuance (http://www.digitaljournal.com/pr/2479144)

"announces the issuance of 100,000 common shares of the Company ("Shares") at a deemed price of $0.25 per Share to Sanjeev Parsad, President, CEO and director of the Company as a performance bonus awarded by the Company."

In light of Charlie's assertion that Buffet won't be able to recreate BH with insurance float, Sanjeev, are you seeing outsized opportunities in re-insurance?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Libs on March 03, 2015, 08:19:10 AM
A profitless venture, with massive share issuance, and now being sued by the local authorities.

All for over 3 X book.

Sanjeev, it's a testimony to you that I've put 3% into your venture out of sheer, blind faith. Looking forward to massive BV compounding from here, my friend  ;D

( Before buying, I read every single one of your posts since you started this site. The clincher was at one point you told someone to "kiss my brown A**")
Title: Re: PDH - Premier Diagnostic Health Services
Post by: ourkid8 on March 14, 2015, 10:58:16 PM
Hi Sanjeev,

I received the documents in the mail and I have a few questions.  The document is well written and you have done a superb job to date.  Keep up the good work!

1.  Would you please elaborate on what your intentions are for PIHK?  Its very vague as it current says, "The business of this subsidiary has not yet been determined."

2.  You will now be allocating 33% of the portfolio into North American public securities - great!  Any intention of rolling up CMC into PDH? (That way you can dedicate 100% of your time to PDH instead of 80% as mentioned)

3.  Would you be able to shed additional colour on the progress of getting PDHK/PDC cash flow positive from operating activities?

4.  Stock options... care to shed additional colour if stock options will continue in the future or are you planning on shifting compensation more on a cash basis to prevent future dilution.  (I know its minimal but over time it adds up)

5.  Would you shed additional colour on why the shares are held in escrow until August 1, 2015.  I just do not understand the purpose. 

Tks,
S
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on March 15, 2015, 01:53:00 PM
Hi Sanjeev,

I received the documents in the mail and I have a few questions.  The document is well written and you have done a superb job to date.  Keep up the good work!

1.  Would you please elaborate on what your intentions are for PIHK?  Its very vague as it current says, "The business of this subsidiary has not yet been determined."

PIHK is short for "Premier Investment (Hong Kong) Ltd".  Other than that, because Premier is a public company, I cannot discuss it any more than that.  What I can say is that China, India, and Asia in general, are not going to get smaller over the next 20-30 years.   

2.  You will now be allocating 33% of the portfolio into North American public securities - great!  Any intention of rolling up CMC into PDH? (That way you can dedicate 100% of your time to PDH instead of 80% as mentioned)

That number on the portfolio is solely due to the nature of corporate boards.  What we are trying to do is difficult for some board members to grasp, unless they've undergone an indoctrination into Berkshire and Buffett.  But we choose to work with boards and shareholders, rather than around them, and eventually they begin to understand. 

Depending on how complex things get and if it becomes an issue from a regulatory standpoint, rolling CMC into PDH would not be out of the question...just no plans for it now.  Again, the 80% number is something that lawyers come up with to satisfy exchanges...I spend all of my time at PDH or MPIC, and how PDH does directly affects MPIC...it's a symbiotic relationship.  In fact, MPIC has essentially moved into PDH's offices, and I will be changing the mailing address for MPIC shortly.
   

3.  Would you be able to shed additional colour on the progress of getting PDHK/PDC cash flow positive from operating activities?

PDHK has been profitable for a long-time.  But since we hired our general manager in China, we will be rerouting that capital back into China growth.

I cannot comment on PDC and profitability.  I can say that I feel very good about PDC, and the cash flow engine I thought I saw there when we made the initial investment 10 months ago...it does really exist!    

4.  Stock options... care to shed additional colour if stock options will continue in the future or are you planning on shifting compensation more on a cash basis to prevent future dilution.  (I know its minimal but over time it adds up)

Again, this is a board thing...unless you really understand the cost of options and the fallacy in how accurately they compensate people, you don't really know why you use them.  The options granted were when I first joined the board...it was the way they did things.  You may have noticed part of my bonus as CEO was in actual shares at market price.  It is easy to persuade a board to act in a manner if it only includes you...convincing them that's how everyone should be compensated is another matter.  Once again, we work with boards, make changes to boards where we can (notice the addition of Andrew this year), and then they usually come around thereafter!  :)   

5.  Would you shed additional colour on why the shares are held in escrow until August 1, 2015.  I just do not understand the purpose.

Again, it was the way the board was compensating directors and executives.  1/3rd vests immediately, another 1/3rd vests a year later and the last 1/3rd two years later.  There is no rhyme or reason...it's just the way they do it and the way most boards do it.  This will change over time.

Getting the changes I wanted over the last 10 months has been very challenging with our board.  It is a slow, at times perplexing and frustrating endeavour!  This is actually true with most corporate boards, because the directors really have little or no understanding of how the business actually operates.  They also have very little understanding of how businesses are valued, forensic accounting skills, or the pervasiveness of corporate culture...which starts at the top.  As Buffett said before, boards are very collegial and long-term members are often set in their ways and incapable of other views. 

I understand why some CEO's like to ram resolutions and votes through...I feel for them.  But from an ethical standpoint, they work and report to the board, and they don't own the company, so they need to learn to work with boards and shareholders.  The fact that they cannot do that, makes them more dangerous than anything else...certainly not determined or driven.  But boards change with the emergence of CEO's, and eventually a synergy does develop between the CEO and a well-functioning board.  The board's duty is not to cow-tow to the CEO, but protect shareholder interests as their fiduciary...so there is a necessary balance there at times.  While this may stifle progress a bit, it also helps minimize corporate governance issues.  Cheers!


Tks,
S
Title: Re: PDH - Premier Diagnostic Health Services
Post by: karthikpm on March 15, 2015, 08:59:53 PM
What documents are these?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on March 16, 2015, 10:28:55 AM
What documents are these?

Karthik,

As a shareholder of Premier Diagnostics Health Services Inc, you will be receiving documents from Computershare for our SAGM on April 2nd.  You can vote online, by telephone, in person, or by returning the proxy material. 

If you received the shares directly, the material will be sent to you directly.  If your shares are held by a broker, please contact your broker for the material if has not been forwarded.  Some of the packages may be stuck in the mail, so please give it another week.

If you still have not received your proxy documents in a week, and those two avenues above fail, please contact Marta Davidson at Robertson Neil LLP at 604-685-1620.  Let her know you have not been able to receive your proxy documents.

Thanks very much!

Sanjeev
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Scudbucket on March 16, 2015, 07:47:40 PM
For U.S. investors, what is the difference between PRDGF and PRDGF.PK?  Why is PRDGF at 0.20 and PRDGF.PK at 0.15?

What is that the best way to get access for U.S. investors?

Thanks.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: simplefocus on March 16, 2015, 08:10:11 PM
For U.S. investors, what is the difference between PRDGF and PRDGF.PK?  Why is PRDGF at 0.20 and PRDGF.PK at 0.15?

What is that the best way to get access for U.S. investors?

Thanks.

Hi Scudbucket,

I may be wrong.  If you check the last traded date of PRDGF.PK, it was in Oct.  So PRDGF is the only actively traded symbol for Premier in US. 

Title: Re: PDH - Premier Diversified Holdings Inc
Post by: rkbabang on April 03, 2015, 05:56:55 AM
"100%"  That is quite a supportive group of shareholders!

http://www.marketwired.com/press-release/premier-diagnostic-health-services-inc-shareholder-approval-change-business-obtained-cnsx-pdh-2006548.htm
Title: Re: PDH - Premier Diagnostic Health Services
Post by: CONeal on April 03, 2015, 07:48:49 AM
Does anyone have notes from the meeting? 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: OracleofCarolina on April 03, 2015, 10:39:01 AM
I haven't seen voting results like that since Kim Jong-un's election!

All joking aside, when you do things the right way and treat shareholders as partners, this is expected.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Jurgis on April 03, 2015, 11:34:50 AM
I haven't seen voting results like that since Kim Jong-un's election!

Hey, I voted for Groveland, why is the tally at 100% for Parsad?



Just kidding.  8) Carry on, nothing to see here.  ;)
Title: Re: PDH - Premier Diagnostic Health Services
Post by: muscleman on April 12, 2015, 09:11:36 AM
Parsad, I wonder if PDH will become a PFIC under US tax laws at one point? This could make it tough for US investors to hold.

http://en.wikipedia.org/wiki/Passive_foreign_investment_company
Definition[edit]
Any foreign (i.e., non-U.S.) corporation meeting either the income test or the asset test is a PFIC with respect to each shareholder when the test is met.[4] PFIC status applies separately for each U.S. person owning shares, and also separately with respect to shares acquired at different times. PFIC status does not, itself, have any impact on the foreign corporation or foreign shareholders.

The income test is met if 75% or more of the foreign corporation's gross income is passive income, defined as foreign personal holding company income with modifications.

The asset test is met if 50% or more of the foreign corporation's average assets (as defined in the IR Code) produce, or could produce passive income, or are assets (such as cash and bare land) that produce no income. The test is applied based on the foreign corporation's adjusted basis, for U.S. tax purposes, of the assets, or at the election of the particular shareholder, fair market values of the assets.

Look-thru of 25% subsidiaries: Interests in 25% or more owned foreign corporations are treated similarly to partnership interests (i.e., looked through) for the income test and the asset test.


It is a bit vague to me for the asset test. Does asset mean pure book value on the balance sheet without adjustments?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on April 13, 2015, 12:51:10 AM
Parsad, I wonder if PDH will become a PFIC under US tax laws at one point? This could make it tough for US investors to hold.

http://en.wikipedia.org/wiki/Passive_foreign_investment_company
Definition[edit]
Any foreign (i.e., non-U.S.) corporation meeting either the income test or the asset test is a PFIC with respect to each shareholder when the test is met.[4] PFIC status applies separately for each U.S. person owning shares, and also separately with respect to shares acquired at different times. PFIC status does not, itself, have any impact on the foreign corporation or foreign shareholders.

The income test is met if 75% or more of the foreign corporation's gross income is passive income, defined as foreign personal holding company income with modifications.

The asset test is met if 50% or more of the foreign corporation's average assets (as defined in the IR Code) produce, or could produce passive income, or are assets (such as cash and bare land) that produce no income. The test is applied based on the foreign corporation's adjusted basis, for U.S. tax purposes, of the assets, or at the election of the particular shareholder, fair market values of the assets.

Look-thru of 25% subsidiaries: Interests in 25% or more owned foreign corporations are treated similarly to partnership interests (i.e., looked through) for the income test and the asset test.


It is a bit vague to me for the asset test. Does asset mean pure book value on the balance sheet without adjustments?

Very unlikely, as most of our revenue is currently generated through our PET/CT and MRI Clinics and future revenues will be generated by other operating businesses we acquire.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: muscleman on April 13, 2015, 07:44:19 AM

Very unlikely, as most of our revenue is currently generated through our PET/CT and MRI Clinics and future revenues will be generated by other operating businesses we acquire.  Cheers!

I do understand that your revenue is mostly coming from your clinics and other operating businesses. My major concern is the asset test, not the income test. Are you planning to have almost no investment securities in PDH, and just focus on acquiring whole businesses and 25%+ partial ownership?
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on April 13, 2015, 05:08:04 PM

Very unlikely, as most of our revenue is currently generated through our PET/CT and MRI Clinics and future revenues will be generated by other operating businesses we acquire.  Cheers!

I do understand that your revenue is mostly coming from your clinics and other operating businesses. My major concern is the asset test, not the income test. Are you planning to have almost no investment securities in PDH, and just focus on acquiring whole businesses and 25%+ partial ownership?

After a couple of acquisitions, most of the assets will be tied up in operating businesses...not cash or securities.  Cheers!
Title: Re: PDH - Premier Diagnostic Health Services
Post by: muscleman on April 13, 2015, 08:37:27 PM

Very unlikely, as most of our revenue is currently generated through our PET/CT and MRI Clinics and future revenues will be generated by other operating businesses we acquire.  Cheers!

I do understand that your revenue is mostly coming from your clinics and other operating businesses. My major concern is the asset test, not the income test. Are you planning to have almost no investment securities in PDH, and just focus on acquiring whole businesses and 25%+ partial ownership?

After a couple of acquisitions, most of the assets will be tied up in operating businesses...not cash or securities.  Cheers!

Cool. But is PDH a PFIC right now? Note that if it is a PFIC now and US investors don't file the form to purge the PFIC status, it will be considered a PFIC forever.
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Parsad on April 13, 2015, 10:26:33 PM

Very unlikely, as most of our revenue is currently generated through our PET/CT and MRI Clinics and future revenues will be generated by other operating businesses we acquire.  Cheers!

I do understand that your revenue is mostly coming from your clinics and other operating businesses. My major concern is the asset test, not the income test. Are you planning to have almost no investment securities in PDH, and just focus on acquiring whole businesses and 25%+ partial ownership?

After a couple of acquisitions, most of the assets will be tied up in operating businesses...not cash or securities.  Cheers!

Cool. But is PDH a PFIC right now? Note that if it is a PFIC now and US investors don't file the form to purge the PFIC status, it will be considered a PFIC forever.

You'll have to decide the status of the investment with your tax advisor.  We are not making any distributions, the bulk of our revenue is from operations and the capital raised occurred in the 2015 fiscal year.  So we do not meet either the revenue or asset benchmark in the 2014 fiscal year. 

You and your tax advisor will have to decide whether you choose to elect the PFIC status.  We will not be issuing any sort of statements for U.S. shareholders like a 1099, which would be issued by Canadian mutual fund trusts, etc, when making distributions or allocation of interest/dividend income.

Cheers! 
Title: Re: PDH - Premier Diagnostic Health Services
Post by: Zorrofan on April 14, 2015, 08:28:26 AM

Very unlikely, as most of our revenue is currently generated through our PET/CT and MRI Clinics and future revenues will be generated by other operating businesses we acquire.  Cheers!

I do understand that your revenue is mostly coming from your clinics and other operating businesses. My major concern is the asset test, not the income test. Are you planning to have almost no investment securities in PDH, and just focus on acquiring whole businesses and 25%+ partial ownership?

After a couple of acquisitions, most of the assets will be tied up in operating businesses...not cash or securities.  Cheers!

Cool. But is PDH a PFIC right now? Note that if it is a PFIC now and US investors don't file the form to purge the PFIC status, it will be considered a PFIC forever.

You'll have to decide the status of the investment with your tax advisor.  We are not making any distributions, the bulk of our revenue is from operations and the capital raised occurred in the 2015 fiscal year.  So we do not meet either the revenue or asset benchmark in the 2014 fiscal year. 

You and your tax advisor will have to decide whether you choose to elect the PFIC status.  We will not be issuing any sort of statements for U.S. shareholders like a 1099, which would be issued by Canadian mutual fund trusts, etc, when making distributions or allocation of interest/dividend income.

Cheers!

Sanj,

Congratulations on this exciting move!  I have never bought a penny stock before, so it was a new experience for me. I hope that buying in a this stage is like buying BRK at the same time WEB did. Now this next part is very, very important - from this point on your sole focus must be on making me a billionaire!!  ;D

Congrats and good luck to us all!
cheers
Zorro
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: PLynchJr on April 22, 2015, 10:47:53 AM
Showing up as Premier Diversified Holdings in my Fidelity account today.

 8)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: karthikpm on April 22, 2015, 05:26:40 PM
Ticker symbol still the same?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 22, 2015, 05:27:51 PM
Ticker symbol still the same?

Yup, ticker is the same.  Cusip changes slightly.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Hawks on April 22, 2015, 05:38:37 PM
Gotta love where PDH is heading here. One small step at a time.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on June 02, 2015, 08:08:29 AM
There's a cancer diagnosis every 10 seconds in China
http://www.bloomberg.com/news/articles/2015-06-01/selling-hope-how-the-business-of-cancer-is-taking-off-in-china
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on June 02, 2015, 04:16:17 PM
anyone notice that PDH reported results today?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on June 02, 2015, 05:47:12 PM
Care to share them?

anyone notice that PDH reported results today?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on June 02, 2015, 06:12:06 PM
Care to share them?

anyone notice that PDH reported results today?

They are on sedar.com  I can't put the PDF on here right now , technical problems
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on June 02, 2015, 08:32:33 PM
Financials.


-Crip
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on June 02, 2015, 08:33:53 PM
MD&A
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: watsa_is_a_randian_hero on June 03, 2015, 06:53:21 AM
Has anyone found a way to trade this through interactive brokers yet?  I know they do not do the CNX or the US "grey market".  I guess PRDG.F must be "grey".
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Zorrofan on June 03, 2015, 07:41:27 AM
MD&A

thanks for posting this, i didn't relalize this was out!

cheers
Zorro
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on June 20, 2015, 10:20:28 AM
PDH is buying 14,506,00 shares (~17%) of Russell Breweries from MPIC and G. Andrew Cooke.   Total value is $1,218,504. 

PDH is issuing 5,802,400 shares for purchase and is paying a pretty significant price premium (68%).  PDH shares at $.21 and Russell Shares at $.05.   PDH value  $1,218,504 and Russell value at  $725,300.





Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: constructive on June 20, 2015, 12:16:06 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Zorrofan on June 21, 2015, 04:26:24 PM
I'm curious as to why such a large premium was required in this non-arm's length transaction. any thoughts??

cheers
Zorro
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Hawks on June 26, 2015, 05:48:38 AM
PDH offering to buy 51% of Russell Brewing today.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on June 26, 2015, 09:14:18 AM
PDH offering to buy 51% of Russell Brewing today.

Been looking at buying Russell Brewing today to get more shares of PDH at a discount since the stock hasn't budged (obviously not liquid), but IB wants to charge an insane commission of $50+ on the trade. I'm in the U.S. and the pink sheets shares don't appear to trade. Anyone have any suggestions?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gfp on June 26, 2015, 09:40:44 AM
When I pulled Russell up on IB there was no ask.  Are you seeing shares for sale?


PDH offering to buy 51% of Russell Brewing today.

Been looking at buying Russell Brewing today to get more shares of PDH at a discount since the stock hasn't budged (obviously not liquid), but IB wants to charge an insane commission of $50+ on the trade. I'm in the U.S. and the pink sheets shares don't appear to trade. Anyone have any suggestions?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Hawks on June 26, 2015, 10:32:22 AM
Believe shares are halted. no trading.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on June 28, 2015, 11:56:08 AM
http://www.winnipegfreepress.com/business/investor-makes-pitch-for-russell-breweries-310250391.html

Some comments from Mr. Parsad
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on June 30, 2015, 11:27:20 AM

According to Google Finance, PDH is Privately held. Shouldn't someone have told the shareholders? :)


-Crip



Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on June 30, 2015, 12:26:02 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on June 30, 2015, 03:17:36 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?

This is especially true as there will be some investors that can't take/don't want an illiquid CNSX listed security.

Personally, I hope Parsad and co stay on the CNSX, as it's cheaper and feels closer to "private" to me. Basically the same reasons BRK was OTC for so long.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on June 30, 2015, 03:19:46 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?

This is especially true as there will be some investors that can't take/don't want an illiquid CNSX listed security.

Personally, I hope Parsad and co stay on the CNSX, as it's cheaper and feels closer to "private" to me. Basically the same reasons BRK was OTC for so long.

I'll second that. I don't mind a few years of acquiring an illiquid stock before anyone figures it out and starts purchasing it as well. I just need their targets to be more liquid :)

Couldn't get any RB shares to tender without having to fork over insane commissions to IB ($50+ for a trade). I guess I'll just be buying PDH straight up if I want it.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: hillfronter83 on June 30, 2015, 06:32:24 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?

This is especially true as there will be some investors that can't take/don't want an illiquid CNSX listed security.

Personally, I hope Parsad and co stay on the CNSX, as it's cheaper and feels closer to "private" to me. Basically the same reasons BRK was OTC for so long.

I'll second that. I don't mind a few years of acquiring an illiquid stock before anyone figures it out and starts purchasing it as well. I just need their targets to be more liquid :)

Couldn't get any RB shares to tender without having to fork over insane commissions to IB ($50+ for a trade). I guess I'll just be buying PDH straight up if I want it.

Can anyone buy PDH in IB? The stock is not available from IB to me.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on July 02, 2015, 09:51:38 AM
Does anyone have any thoughts on whether this is likely to go through? It seems like a potentially win-win to me, as Premier makes an accretive acquisition and Russell shareholders get a premium. That being said, the conversation on microcapclub is pretty negative about this offer. The position seems to be that Russell is still very undervalued and the at the current exchange offer PDH would be buying it on the cheap.

I haven't seen any filings yet, any idea on whether this would be contingent on getting to 51% or would PDH take what they can get?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: constructive on July 02, 2015, 10:18:34 AM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?

You're talking about a different transaction. The tender offer was at a lower premium than the related party transaction. As far as I can tell there is no justification for that.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on July 02, 2015, 12:04:27 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?

You're talking about a different transaction. The tender offer was at a lower premium than the related party transaction. As far as I can tell there is no justification for that.

Aren't they both 2.5 PDH for every RB share?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on July 02, 2015, 12:33:48 PM
I understand PDH wanting to use their shares as currency to make an acquisition. But they shouldn't have to pay such a large premium to market price, especially for a non arms length transaction.

Also, my guess is because it's an illiquid and there's no other reasonable way in which PDH could tender a control position. The price paid had to be weighed against the likelihood of getting enough people to tender to gain control over an additional 34% of the company for a total of 51%. Control is worth something.

That means you have to make the price high enough that 1/3 of current shareholders are willing to walk away, since a voluntary tender is the only way you're going to get 51% of the company. Let's have a thought exercise - what premium do you think would have been high enough to guarantee 1/3 of shareholders would sell to you?

You're talking about a different transaction. The tender offer was at a lower premium than the related party transaction. As far as I can tell there is no justification for that.

The offer is identical!  Absolutely no difference.  1 share of Premier for 2.5 shares of Russell.

We had to do our purchase agreement first so that we could use an exemption from U.S. securities requirements...even though Russell is a Canadian company.  We could not proceed the other way.  Cheers! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: constructive on July 02, 2015, 02:00:29 PM
The offer is identical!  Absolutely no difference.  1 share of Premier for 2.5 shares of Russell.

We had to do our purchase agreement first so that we could use an exemption from U.S. securities requirements...even though Russell is a Canadian company.  We could not proceed the other way.  Cheers!

The exchange rate was the same but the price premium was significantly different since the prices moved between the two transactions.

You can make the argument that RB is so illiquid that the price premium is irrelevant. I was skeptical of the premium in the original transaction, but you're right that being on the same terms as the public transaction counts in its favor.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on July 02, 2015, 03:26:08 PM
The offer is identical!  Absolutely no difference.  1 share of Premier for 2.5 shares of Russell.

We had to do our purchase agreement first so that we could use an exemption from U.S. securities requirements...even though Russell is a Canadian company.  We could not proceed the other way.  Cheers!

The exchange rate was the same but the price premium was significantly different since the prices moved between the two transactions.

You can make the argument that RB is so illiquid that the price premium is irrelevant. I was skeptical of the premium in the original transaction, but you're right that being on the same terms as the public transaction counts in its favor.

The price premium is irrelevant...we didn't get any more than any other shareholder is going to get...since we did not buy or sell the shares and did not enjoy any of the spread that might have existed between the purchase agreement and tender offer. 

It's exactly the same offer and the result is exactly the same as any other shareholder.  Cheers! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: LesPaul on July 09, 2015, 09:21:10 AM
Bought some RB with the intention of soon owning PDH. I am surprised RB is still being traded at 0.065, but I guess that is the illiquidity & exchange impact others have referenced!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on July 09, 2015, 09:57:59 AM
I did the same but I am adding to my position.  I assume we need to call our broker to execute this corporate action, correct? 

Bought some RB with the intention of soon owning PDH. I am surprised RB is still being traded at 0.065, but I guess that is the illiquidity & exchange impact others have referenced!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on July 09, 2015, 01:23:52 PM
Russell issued a press release. Guess they are just playing hardball but are urging shareholders to reject the tender offer.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on July 09, 2015, 07:28:51 PM
Russell issued a press release. Guess they are just playing hardball but are urging shareholders to reject the tender offer.

Their press release looks like more than "just playing hardball" to me, especially with the 33% committing to not tender. Nonetheless, that should leave enough room in the tender for me to get 100% allocated on the position I bought specifically to tender.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: LesPaul on July 15, 2015, 01:11:46 PM
Bought more RB. Although I am not a member of the small cap forum, saw some negative feedback on twitter searching $rb.v

I did the same but I am adding to my position.  I assume we need to call our broker to execute this corporate action, correct? 

Bought some RB with the intention of soon owning PDH. I am surprised RB is still being traded at 0.065, but I guess that is the illiquidity & exchange impact others have referenced!

I usually receive a call and mail from RBC in a fairly prompt fashion with instructions and offer details.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Zorrofan on July 15, 2015, 02:44:44 PM
Bought more RB. Although I am not a member of the small cap forum, saw some negative feedback on twitter searching $rb.v

I did the same but I am adding to my position.  I assume we need to call our broker to execute this corporate action, correct? 

Bought some RB with the intention of soon owning PDH. I am surprised RB is still being traded at 0.065, but I guess that is the illiquidity & exchange impact others have referenced!

I usually receive a call and mail from RBC in a fairly prompt fashion with instructions and offer details.

Here is the press release....

http://www.russellbeer.com/pri.asp?pressID=432

cheers
Zorro
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: jimjam on July 15, 2015, 04:14:23 PM
COBF newbie here trying to make sense of PDH.

Parsad wrote positively about Russell so I would have expected a friendly tender, but reading through the "Background to the partial offer" on pp. 8-11 of Russell's Directors' Circular (10 July 2015 filing on SEDAR), it appears that the communication broke down:

   http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00016831

If PDH intends an unfriendly offer, how exactly do they intend to add value? (I know Biglari rubs many people the wrong way, but, when he makes an offer, he does deliver a clear list of problems and suggestions.)

To this end, I've been trying to find out more about Parsad's track record... I saw that Parsad lists himself as having been "profiled" in Guy Spiers’ “The Education of a Value Investor”:

   http://premierdiagnostics.ca/corporate/management-team/

But this turned out to be fruitless: when I did a search through the Kindle edition, there is no profile, only Parsad's name in a long list of acknowledgements.

So:

1. Where can I read more about Parsad's philosophy and performance?

2. Are MPIC's letters available to read?

3. What were major investments made by MPIC?

4. Has MPIC taken control positions before?

5. Is PDH intending to put new management in place at RB?

Would be grateful for any insights.

-jimjam
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on July 15, 2015, 09:56:43 PM
I think the offer was pretty friendly.  As it was a 30+%increase to the share price.  Keep in mind that the main issue the RB management seems to have is that the offer is not cash and for the entire company.  RB has made a few moves since the tender in order to straighten out their funding and start expansion.  Were they planning to do this before the offer? 

Anytime someone tries to take control of a company, management is going to cry foul bc their way of life might change. 

The MPIC is available to accredited investors.  It kinda sucks about not having the letter available to the public but you can get a real deep understanding of his philosophy and principals by going through his posts in the past on this board.

I was waiting several years for him to have a public vehicle based on keeping track of him on here.  From my view, he is fair but will not let people strong arm him if they are trying to screw him.  He has a lot of the same principals that I have has far as how management should work for the shareholders and not fleece them to get a leg up in life.  Plus, he is smarter then me so it was a know brainer for me to buy in.   

Hope this helps a little.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on July 16, 2015, 05:48:40 AM
I think the offer was pretty friendly.  As it was a 30+%increase to the share price.  Keep in mind that the main issue the RB management seems to have is that the offer is not cash and for the entire company.  RB has made a few moves since the tender in order to straighten out their funding and start expansion.  Were they planning to do this before the offer? 

Anytime someone tries to take control of a company, management is going to cry foul bc their way of life might change. 

The MPIC is available to accredited investors.  It kinda sucks about not having the letter available to the public but you can get a real deep understanding of his philosophy and principals by going through his posts in the past on this board.

I was waiting several years for him to have a public vehicle based on keeping track of him on here.  From my view, he is fair but will not let people strong arm him if they are trying to screw him.  He has a lot of the same principals that I have has far as how management should work for the shareholders and not fleece them to get a leg up in life.  Plus, he is smarter then me so it was a know brainer for me to buy in.   

Hope this helps a little.

Ditto that.

Jimjam, Sanjeev has 7680 posts on this board.  He started the first board 12 years ago - I have known him, personally, for ten yrs.  That should give you some flavour, if you live long enough to read through all the posts.  Like CONeal I bought a large chunk of shares (10% of my holdings) in PDHs private IPO.  It certainly wasn't based on the business.  It was based wholly on the operator. 

Of course RB is crying foul as per COMeals comments. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: abitofvalue on July 21, 2015, 09:32:19 AM
Agreement with Russell reached.

- Premier withdrawing bid for 51% of shares
- Premier ownership to be limited to 19.9%
- Sanjeev and Alnesh to join Russell's BoD

So looks like the original transaction will go through but the public takeover offer wont.  Interesting developments.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on July 21, 2015, 10:25:13 AM
I was hoping to pick-up Premier shares for $0.1625 /share...  :-(  Is everyone going to sell their shares or allow Sanjeev and team to create value? 

Agreement with Russell reached.

- Premier withdrawing bid for 51% of shares
- Premier ownership to be limited to 19.9%
- Sanjeev and Alnesh to join Russell's BoD

So looks like the original transaction will go through but the public takeover offer wont.  Interesting developments.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on July 21, 2015, 11:19:43 AM
That's certainly disappointing from my perspective, as I purchased RB specifically to trade into PDH shares.  It looks like the business is trading at a cheap price (and presumably Parsad thinks so as well). On the other hand, pulling the bid may pull the floor out from under the stock, at least temporarily.

From a PDH perspective, this is unfortunate, as any time they can convert high valued stock into low valued assets it is very accretive.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on July 21, 2015, 01:04:48 PM
Hi Everyone,

Just wanted to thank you for any support you showed or planned on showing for the tender!  I cannot discuss things too much, but I wanted to give a bit of clarity on how things transpired.

We had to conduct the private sale between MPIC Fund I, LP and Andrew first, because of archaic U.S. regulations and exemptions that would have limited us from conducting the transaction after the tender.  Even though Russell is a Canadian security, U.S. securities law came into effect due to MPIC Fund I, LP's ownership.

We also had every intention of completing the tender at the same conversion, but the chances of us defeating the cease trade order and having the shareholder rights plan removed were low based on Canadian securities case history.  This was also not going to be a cheap endeavour for Russell shareholders and management was going to war...probably would have dragged out well past this year's AGM in terms of things being stuck in court.  They had less than half a million in cash, and they would have burned well through that if we pushed it.

While we certainly would have liked to increase our ownership of Russell, we decided that the long-term goal of increasing shareholder value for everyone by being on the board and facilitating that any way we can, was the better alternative than destroying shareholder capital in a lengthy proxy.  This also forces Russell's existing management to prove their value over the next 16 months.

Once again, thanks for your support and we will do everything we can to increase shareholder value at Russell and Premier!  Cheers! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on July 21, 2015, 04:50:04 PM
Thanks for the comments Sanjeev!
Glad we avoided a costly proxy battle.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Libs on July 22, 2015, 08:15:15 AM
Thanks for the comments Sanjeev!
Glad we avoided a costly proxy battle.

+1
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on August 12, 2015, 08:58:41 AM
Thanks for the comments Sanjeev!
Glad we avoided a costly proxy battle.

+1

Good that we avoided a proxy battle, but could this have been handled better?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on August 12, 2015, 10:09:56 AM
Thanks for the comments Sanjeev!
Glad we avoided a costly proxy battle.

+1

Good that we avoided a proxy battle, but could this have been handled better?

Just curious, as there have been a few comments that it's "good to have avoided a proxy batte." Not specifically to this case, but is there a reason people believe that?

It seems to me a proxy battle isn't something to be avoided particularly. It has costs which need to be weighed against the value of success, but in many cases (PDH buying an undervalued business with stock, or activists getting on the board at Solitron) it seems like the benefits may outweigh those costs.

Or are the comments specific to PDH, in that people think making the company a BRK-like "safe home" for businesses will have more long term value than making hostile acquisitions, even if they are very accretive?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on August 12, 2015, 10:25:31 AM
Thanks for the comments Sanjeev!
Glad we avoided a costly proxy battle.

+1

Good that we avoided a proxy battle, but could this have been handled better?

Just curious, as there have been a few comments that it's "good to have avoided a proxy batte." Not specifically to this case, but is there a reason people believe that?

It seems to me a proxy battle isn't something to be avoided particularly. It has costs which need to be weighed against the value of success, but in many cases (PDH buying an undervalued business with stock, or activists getting on the board at Solitron) it seems like the benefits may outweigh those costs.

Or are the comments specific to PDH, in that people think making the company a BRK-like "safe home" for businesses will have more long term value than making hostile acquisitions, even if they are very accretive?

My understanding is that Russell only has limited cash, and management is willing to go to war -- i.e., burning through all cash and more to fight the buyout. Even if PDH eventually wins, the asset becomes less appealing.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: abitofvalue on August 31, 2015, 05:19:49 PM
FYI - Updated filings through June 30 filed with SEDAR today.

Looks like the stock has sold off to 0.1294 over the last month (post-Russell).  Seems the optics of the deal scared off some holders. Hopefully lessons learned by management.

Anyone else have trouble getting executions on this name? I have put in buy orders above the quoted price a couple of times and had no fills. Probably a function of my using a crappy broker (Merrill) but thought I would check..
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on August 31, 2015, 07:01:14 PM

Looks like the stock has sold off to 0.1294 over the last month (post-Russell).  Seems the optics of the deal scared off some holders. Hopefully lessons learned by management.


Ah, what "optics" and what "lessons"?  Stock price will fluctuate on supply/demand and how markets value the company.  We have no control over that, nor is there any lesson to be learned.  Your orders are not being filled because the sellers are not willing to sell below a certain price.  The quote is irrelevant...orders are filled based on the ask.

As for the Russell deal, there was nothing fuzzy about the "optics".  It was about as clear as we could make it without meeting each shareholder and talking to them for an hour!  The tender price if completed would have been very good for Premier shareholders, and the price was by far the best offer Russell had.  We're not going to blow a wad of shareholder capital to win a war that destroys the underlying asset or it's intrinsic value.  What would we gain from that? 

Our egos never get in the way of doing the right thing.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on August 31, 2015, 08:40:36 PM
FYI - Updated filings through June 30 filed with SEDAR today.

Looks like the stock has sold off to 0.1294 over the last month (post-Russell).  Seems the optics of the deal scared off some holders. Hopefully lessons learned by management.

Anyone else have trouble getting executions on this name? I have put in buy orders above the quoted price a couple of times and had no fills. Probably a function of my using a crappy broker (Merrill) but thought I would check..


It looks like roughly 100K Shares (Less than C$20,000) have changed hands over the past three weeks. Not finding sellers to fill buy orders would suggest, at least to a unsophisticated individual like me, that those who own this are not looking to sell at anything close to the most recent trade. I would be one of those owners.


-Crip

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: abitofvalue on August 31, 2015, 09:02:44 PM

Looks like the stock has sold off to 0.1294 over the last month (post-Russell).  Seems the optics of the deal scared off some holders. Hopefully lessons learned by management.


Ah, what "optics" and what "lessons"?  Stock price will fluctuate on supply/demand and how markets value the company.  We have no control over that, nor is there any lesson to be learned.  Your orders are not being filled because the sellers are not willing to sell below a certain price.  The quote is irrelevant...orders are filled based on the ask.

As for the Russell deal, there was nothing fuzzy about the "optics".  It was about as clear as we could make it without meeting each shareholder and talking to them for an hour!  The tender price if completed would have been very good for Premier shareholders, and the price was by far the best offer Russell had.  We're not going to blow a wad of shareholder capital to win a war that destroys the underlying asset or it's intrinsic value.  What would we gain from that? 

Our egos never get in the way of doing the right thing.  Cheers!


Optics - Like 5 posts above our posts is an explanation from you about the deal. Hard to see why that would be needed if everything was super clear and there were no optical issues..

Again to be clear - I don't think there was any actual unfair dealing. I do think there was the appearance of potential issues that you explained satisfactorily. Heck, I am looking to buy more reflecting my trust in your stewardship of investor capital.  I was just conjecturing as to why the stock price had been drifting so much lower when I referred to optical issues scaring off some holders but you are right it could have been anything.

Regarding lessons - How far management will go to keep their position entrenched.  Also would have thought going through the tender acquisition process would have been somewhat educational in itself, but maybe you already knew all there was to know about a hostile tender offer to take over a public company.. I suspect based on some of your other posts, your investment hero's and reputation on this board that you actually learned lessons from the process.     

Either way I phrased it poorly - Apologies if it came across the wrong way.  Didn't mean to imply you did something shady here mate.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on August 31, 2015, 10:27:14 PM

Looks like the stock has sold off to 0.1294 over the last month (post-Russell).  Seems the optics of the deal scared off some holders. Hopefully lessons learned by management.


Ah, what "optics" and what "lessons"?  Stock price will fluctuate on supply/demand and how markets value the company.  We have no control over that, nor is there any lesson to be learned.  Your orders are not being filled because the sellers are not willing to sell below a certain price.  The quote is irrelevant...orders are filled based on the ask.

As for the Russell deal, there was nothing fuzzy about the "optics".  It was about as clear as we could make it without meeting each shareholder and talking to them for an hour!  The tender price if completed would have been very good for Premier shareholders, and the price was by far the best offer Russell had.  We're not going to blow a wad of shareholder capital to win a war that destroys the underlying asset or it's intrinsic value.  What would we gain from that? 

Our egos never get in the way of doing the right thing.  Cheers!


Optics - Like 5 posts above our posts is an explanation from you about the deal. Hard to see why that would be needed if everything was super clear and there were no optical issues..

Again to be clear - I don't think there was any actual unfair dealing. I do think there was the appearance of potential issues that you explained satisfactorily. Heck, I am looking to buy more reflecting my trust in your stewardship of investor capital.  I was just conjecturing as to why the stock price had been drifting so much lower when I referred to optical issues scaring off some holders but you are right it could have been anything.

Regarding lessons - How far management will go to keep their position entrenched.  Also would have thought going through the tender acquisition process would have been somewhat educational in itself, but maybe you already knew all there was to know about a hostile tender offer to take over a public company.. I suspect based on some of your other posts, your investment hero's and reputation on this board that you actually learned lessons from the process.     

Either way I phrased it poorly - Apologies if it came across the wrong way.  Didn't mean to imply you did something shady here mate.

No worries!  There's only so much we can put into filings, financial notes, MD&A's, before thinking it's overkill.  So what I can clarify, I try to, thus the post. 

One thing I will say, and this isn't a reflection on you, but really all investors including myself in the past...there is so much that armchair quarterbacks do not know about the underpinnings of the day to day operations of any business, acquisition, etc.  Even many boards have no clue about all of the company's inner workings unless they are directly involved with management on a weekly basis. 

When Buffett says he's a better investor because he's a businessman, and a better businessman because he's an investor, it is absolutely true.  A lot of times, shareholders formulate theories from bits and pieces of information or conjecture, when there is much more going on that it is at times indescribable in a couple of paragraphs in a press release or even a page of the MD&A. 

It would literally take an hour of sitting down and talking to you to explain everything that happened during the tender process...many regulations, securities laws and even actions that are absurd, but we had to deal with.  And then play out the various scenarios under that environment, and their various outcomes, to come to the best possible risk/reward result for shareholders.  Far more detailed and complex than simply running a discount cash flow statement and buying with a margin of safety.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on September 01, 2015, 07:12:32 AM

One thing I will say, and this isn't a reflection on you, but really all investors including myself in the past...there is so much that armchair quarterbacks do not know about the underpinnings of the day to day operations of any business, acquisition, etc.  Even many boards have no clue about all of the company's inner workings unless they are directly involved with management on a weekly basis. 

When Buffett says he's a better investor because he's a businessman, and a better businessman because he's an investor, it is absolutely true.  A lot of times, shareholders formulate theories from bits and pieces of information or conjecture, when there is much more going on that it is at times indescribable in a couple of paragraphs in a press release or even a page of the MD&A. 

It would literally take an hour of sitting down and talking to you to explain everything that happened during the tender process...many regulations, securities laws and even actions that are absurd, but we had to deal with.  And then play out the various scenarios under that environment, and their various outcomes, to come to the best possible risk/reward result for shareholders.  Far more detailed and complex than simply running a discount cash flow statement and buying with a margin of safety.  Cheers!

Exactly,  no outside shareholder of any company really knows what is going on everyday at the companies he is investing in. Creating theories and using conjecture based on bits and pieces is all anyone can ever really do.   And if this is true with a small company, can you imagine how much more true it is with a large cap?     I invest in Apple and have all kinds of theories about what their strategy is or what is going on, but even the best informed outside shareholder can't possibly know 1% of what is really going on day to day.   Every topic on this board is filled with people throwing out their theories, the PDH thread will be no different.  It will only be different for you, because you actually do have an understanding of what is going on day to day.  I'd imagine that Tim Cook could have a thing or two to say about all the armchair quarterbacking on the Apple board too if he read it.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: oddballstocks on September 01, 2015, 08:01:19 AM

One thing I will say, and this isn't a reflection on you, but really all investors including myself in the past...there is so much that armchair quarterbacks do not know about the underpinnings of the day to day operations of any business, acquisition, etc.  Even many boards have no clue about all of the company's inner workings unless they are directly involved with management on a weekly basis. 

When Buffett says he's a better investor because he's a businessman, and a better businessman because he's an investor, it is absolutely true.  A lot of times, shareholders formulate theories from bits and pieces of information or conjecture, when there is much more going on that it is at times indescribable in a couple of paragraphs in a press release or even a page of the MD&A. 

It would literally take an hour of sitting down and talking to you to explain everything that happened during the tender process...many regulations, securities laws and even actions that are absurd, but we had to deal with.  And then play out the various scenarios under that environment, and their various outcomes, to come to the best possible risk/reward result for shareholders.  Far more detailed and complex than simply running a discount cash flow statement and buying with a margin of safety.  Cheers!

Exactly,  no outside shareholder of any company really knows what is going on everyday at the companies he is investing in. Creating theories and using conjecture based on bits and pieces is all anyone can ever really do.   And if this is true with a small company, can you imagine how much more true it is with a large cap?     I invest in Apple and have all kinds of theories about what their strategy is or what is going on, but even the best informed outside shareholder can't possibly know 1% of what is really going on day to day.   Every topic on this board is filled with people throwing out their theories, the PDH thread will be no different.  It will only be different for you, because you actually do have an understanding of what is going on day to day.  I'd imagine that Tim Cook could have a thing or two to say about all the armchair quarterbacking on the Apple board too if he read it.

The idea that investors don't know squat is powerful and true.  I tend to veer towards the "I don't know anything, so I'll buy statistically cheap companies" myself because I own a business, and I've worked in both large and small companies (one public) and have seen how the sausage is made.  At the public company I saw first hand that what the "market" and investor thought and theorized was completely untrue, and many of management's reasons for decisions was sound given all the variables.  But without actually working in the company an investor would have trouble understanding.

One thing that drives me nuts is the armchair quarterbacking by investors.  Many investors, especially large public ones project this persona that they know more than management, and management is stupid.  They believe that running a company is some simple task and a few levers like buyback shares, cut costs etc are easy decisions.  Yet they aren't, looking in from the outside is maybe equal to trying to officiate an NFL game blindfolded.

Parsad is right, and Buffett is right...owning/running/working in a business makes one a better investor.  But also being an investor gives one a better perspective on running a business.

One last thought on all of this.  I'm working through some stuff with a company looking to cut costs.  To an investor this is easy they say cut costs, cut the fat etc.  But on the inside it's VERY hard.  There are millions of variables that need to be weighted.  Each decision carries a lot of ramifications that all trickle down.  Do you alienate one group of people that are responsible for x, or frustrated another group that's responsible for y?  Management is not stupid in most cases.  If there were really easy costs to cut in most cases they cut, unless the manager doesn't care about costs at all.

I like to describe cost cutting like this.  Imagine you're building a custom house.  The builder offers you an upgrade on the faucets, from a standard fixture to a nicer fixture, only $300 for the upgrade.  On a $400k house that $300 is nothing.  Extrapolate that out across many items on the house, standard toilet, or upgrade.  Those $200-300 upgrades all add up, then suddenly your $400k house is costing $475k and you're wondering "where did that $75k come from?"  The problem is it's not one thing, it's a ton of little things, that when examined individually it's easy to say "yes we want the toilet upgrades"
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: compoundinglife on September 01, 2015, 08:30:09 AM
No worries!  There's only so much we can put into filings, financial notes, MD&A's, before thinking it's overkill.  So what I can clarify, I try to, thus the post. 

One thing I will say, and this isn't a reflection on you, but really all investors including myself in the past...there is so much that armchair quarterbacks do not know about the underpinnings of the day to day operations of any business, acquisition, etc.  Even many boards have no clue about all of the company's inner workings unless they are directly involved with management on a weekly basis. 

When Buffett says he's a better investor because he's a businessman, and a better businessman because he's an investor, it is absolutely true.  A lot of times, shareholders formulate theories from bits and pieces of information or conjecture, when there is much more going on that it is at times indescribable in a couple of paragraphs in a press release or even a page of the MD&A. 

It would literally take an hour of sitting down and talking to you to explain everything that happened during the tender process...many regulations, securities laws and even actions that are absurd, but we had to deal with.  And then play out the various scenarios under that environment, and their various outcomes, to come to the best possible risk/reward result for shareholders.  Far more detailed and complex than simply running a discount cash flow statement and buying with a margin of safety.  Cheers!

I know someone who was a CEO of publicly traded company and he/she had a related story about an activist investor. In this case the investor was urging them to take certain tactical and strategic actions. The company already had a plan underway that basically mirrored the strategic things the investor was asking for but they did not want to publicly disclose their plans/roadmap because they did not want to alert competitors to what they were doing. By the time they were ready/able to communicate their plan/progress etc.. said investor was no longer in stock. From the perspective of the person running the company, the investor was implying the company management did not what they were doing when in fact they were doing exactly what the investor wanted. They just could not communicate it.

Reminds of something I say when talking to be people about presidential candidates. If the person running for president has no access to classified information about threats to national security you can basically take anything they say about defense with a grain of salt because they are speaking without all the information and basically armchair quarterbacking. They day they get inaugurated and start getting all the classified data it's a different story.

On a side note this person did say that because of the investor they sought out cost cutting measures they had not previously undertaken and were able to impact the bottom line. Basically the activists kept them honest with regards to overhead. So he/she was not entirely negative on the activist situation.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: intothebreach on September 01, 2015, 09:43:31 AM

Looks like the stock has sold off to 0.1294 over the last month (post-Russell).  Seems the optics of the deal scared off some holders. Hopefully lessons learned by management.

Anyone else have trouble getting executions on this name? I have put in buy orders above the quoted price a couple of times and had no fills. Probably a function of my using a crappy broker (Merrill) but thought I would check..

It looks like roughly 100K Shares (Less than C$20,000) have changed hands over the past three weeks. Not finding sellers to fill buy orders would suggest, at least to a unsophisticated individual like me, that those who own this are not looking to sell at anything close to the most recent trade. I would be one of those owners.


I would not spend too much time trying to interpret the current price as there's really little depth on standing orders on both sides. As we can see on the CNSX website (all quotes delayed 15 min.) the fifth bid and ask on each side are apart by almost $0.30 for a stock that has been trading between $0.16 and $0.25. So the current price is most likely an indication of someone unwittingly putting in a market order, and someone else taking advantage with a low bid. Caveat Emptor AND Caveat Venditor!

http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/Premier-Diversified-Holdings-Inc.aspx
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on September 01, 2015, 10:59:13 AM
To that end the low price trades could have been margin calls last week.  Whoever it happened to is not going to come clean on this message board and admit they lost money on a stock they knew was essentially illiquid. 

If you have ever had to make margin the first stocks you go for are often those that will create the most margin - i.e. stocks that you paid totally in cash for.  I have had to do it - 2008. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Junto on September 02, 2015, 07:18:50 PM
Parsad I wish you would take the emotion out of the responses a little. The facts remain the results are not very good and I understand it is a turnaround but the investment returns leave much to be desired.

Very little discussion on Sequant, what is the real story? $1,505,000 to $952,041 (USD) in 7 months?  Would be good to get some more detail because that is tough to stomach.

Net Losses continue to be excessive compared to revenues. 2015 YTD Revenues of $561,400 with a Net Loss of $993,481 vs 2014 Revenues of $332,727 and Net Loss of $558,220.

Just trying to be constructive here as the business fundamentals and investment performance to date have been a struggle.

Are you planning to come out with some more support for the actions and how the company intends to get to profitability? Thanks.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 02, 2015, 11:07:55 PM
Parsad I wish you would take the emotion out of the responses a little. The facts remain the results are not very good and I understand it is a turnaround but the investment returns leave much to be desired.

Very little discussion on Sequant, what is the real story? $1,505,000 to $952,041 (USD) in 7 months?  Would be good to get some more detail because that is tough to stomach.

Net Losses continue to be excessive compared to revenues. 2015 YTD Revenues of $561,400 with a Net Loss of $993,481 vs 2014 Revenues of $332,727 and Net Loss of $558,220.

Just trying to be constructive here as the business fundamentals and investment performance to date have been a struggle.

Are you planning to come out with some more support for the actions and how the company intends to get to profitability? Thanks.

Junto,

The emotion is there because it is mind-numbing when people speculate on things without knowing what is happening underneath the hood.

Without discussing anything not already in filings, press releases, monthly filings on the CSE, etc, here is what has happened in the last 12 months...and over 90% of it in the last 9 months:

- The Burnaby Clinic was completely shut down and behind on all payables by 10 weeks, including employee salaries...that was all taken care of
- The company's rent was six months behind with the bailiff picking up the rent check...that was taken care of
- The Burnaby Clinic hired a full-time tech as we started again from scratch with a tattered reputation
- Completed the Asset Purchase Agreement for the Clinic
- We did a huge private placement at zero cost other than legal and filing fees
- Huge undertaking of properly documenting the company's operations, corporate governance policies, internal controls, missed regulatory filings, missed financial filings and tax filings
- Hired a new auditor
- Changed the company from a medical issuer to a holding company/investment issuer
- Replaced half the board of directors
- Head office hired a company receptionist/admin...we pay about half the salary, the other half is covered by our sub-lease Cystic Fibrosis Canada
- Notice how payables are down $700K in the last 9 months...part of that was roughly 7 significant settlements, including one for over $430K in the last quarter that was settled for 43 cents on the dollar; settled with the former CEO; settled with Siemens; dealt with HK tax summons
- Complete revamp of how the financials are presented to shareholders, including the MD&A and all disclosures
- Push to grow China business, including hiring a highly qualified General Manager and implementing the same controls and policies as head office
- We launched Sequant Re from scratch...literally zero
- We made a bid for control of Russell Breweries, including significant legal, regulatory and filing costs

These are just the major issues...doesn't include many of the more trivial minor issues that still have costs associated with them.

So let me ask you Junto, with all of that happening, how much do you think are one-time costs in legal, consulting, professional fees, regulatory filings costs, press release fees, Computershare, Broadridge fees, transitional accounting and audit fees, printing costs, settlements, etc?  Any idea?  Can you pinpoint that number?  Of course not.  Not without sitting at my desk or being a fly on the wall in my office.

In terms of Sequant Re, it is a complete start-up from scratch.  We are essentially building a reinsurer/ILS entity from a standing start.  And remember, Bermuda is not cheap!  You have to hire staff, pay them adequately, subsidize their housing, set up an office, equipment, software, legal (enormous), statutory and regulatory documents, filings, website, advertising, travel, meetings, etc...the list is endless.  We aren't building some half-assed $5M insurance business!  Ask yourself how long it would take any of Berkshire's or Fairfax's insurance businesses to have launched from scratch?  Sequant will run losses until gross premiums scale to break-even.

I don't know if you read Mohnish's latest letter on Dhandho, but Stonetrust had a $4.2M underwriting loss last year.  We are trying to build an insurance business from scratch that will do more in premiums than Stonetrust in less than five years for what Stonetrust lost in one year!  Stonetrust also is replacing their in-house actuary...showing how tough the insurance business is in terms of recruiting talent.  We have two of the best actuaries in the business already in-house in Guy Cloutier and David Lalonde!  These guys are working relentlessly to build this out and scale the business.

Like Berkshire, Fairfax, Markel, Leucadia or any other holding company type of structure, we have built-in monthly fixed costs at head office...salaries, rent, benefits, corporate costs, accounting, filings, press releases, listing costs, legal, etc.  This is fixed at a certain amount, and our operating business net revenues and investment income (gains, dividends, interest) have to cover those costs or preferably surpass them.  For a very small company, that is tough to do, but I've always had people count me out.  Even long-time friends and partners close to me had doubts about whether we would succeed or not...that was very disheartening and disappointing!   

Investors should be focused on two things:  Is our net operating revenue growing when one-time costs are removed?  Is book/value per share increasing over time?  As one-time costs dissipate and our operating businesses continue to grow, we expect that to happen.  Take a look at our growth in revenues at the Burnaby Clinic.  That business has about a 60% gross margin, but 28% net profit margin now at the levels it is running at!  It's not even running at 40% of capacity yet!  This was doing nothing last year and had a massive burden of payables.  It's reputation was a laughingstock!  Recently, we were the only clinic in Western Canada selected for an Alzheimer's drug trial.  We have about 70-80 different doctors referring to us now with patients from BC, Alberta and Vancouver Island.

I would encourage our shareholders to talk to our employees, directors, business operators, and even service providers and ask them where this company is today compared to last year.  And where they think it will be five years from now!  Personally, the best thing I could have done for myself and Corner Market Capital was to invest in Premier...even though it was never planned to pan out this way in terms of our vehicle.  I cannot explain how big an advantage captive capital is, and both our shareholders and Corner Market Capital partners will benefit enormously from that over time!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on September 03, 2015, 05:45:06 AM
Sanjeev,

I appreciate your candor. You're the kind of CEO that I like and I'm happy to be a shareholder of PDH. Some members of my family are shareholders too and we're the kind of investors who usually keep their shares for a very long period of time.

Running a business can be tough and we fully understand that. Keep up the good work and energy.

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on September 03, 2015, 06:04:09 AM
Thanks for the info Sanjeev.

Keep up the good work.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Libs on September 03, 2015, 08:13:53 AM
Thanks for the info Sanjeev.

Keep up the good work.

+1

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rjstc on September 03, 2015, 11:18:15 AM
Thanks for the update Sanjeev. Always enjoy. Ron
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: DCG on September 03, 2015, 12:40:40 PM
Sanjeev, any plans to update the http://www.pdh-inc.com/ website? Using Go Daddy's free Website Builder tool screams 'unprofessional' to me. If I was a potential client of yours, and saw your website, I might look elsewhere.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: oddballstocks on September 03, 2015, 01:12:06 PM
Sanjeev, any plans to update the http://www.pdh-inc.com/ website? Using Go Daddy's free Website Builder tool screams 'unprofessional' to me. If I was a potential client of yours, and saw your website, I might look elsewhere.

I'm sure Burlington Northern had the same thought: "Berkshire Hathaway?? Who are these chumps, it looks like a 16 year old designed this website in 1995, surely they can't be serious.."

I would have never noticed unless someone pointed it out.  I guess people just notice different things, site seems fine to me.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: lschmidt on September 03, 2015, 01:31:31 PM
As an investor in PDH, I am heartened that excessive funds were not spent on website developers/contractors. Tight control of spending on non-core aspects of the business (like the holding company website) is indicative of fiscal discipline.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: watsa_is_a_randian_hero on September 03, 2015, 01:38:59 PM
Sanjeev, any plans to update the http://www.pdh-inc.com/ website? Using Go Daddy's free Website Builder tool screams 'unprofessional' to me. If I was a potential client of yours, and saw your website, I might look elsewhere.
As a non-tech person who has spent plenty of time on small/microcap public co websites, I dont think this one is bad. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: DCG on September 03, 2015, 01:51:04 PM
I guess..are potential customers visiting the website to consider the company? Companies aren't going to Berkshire's website to decide whether to buy Berkshire products. Maybe they're not for PDH either - I don't know. Just curious. You can have a professional-looking website for a very low budget these days.

I work in website design and user experience though, so am coming at this from a different angle.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 03, 2015, 01:56:44 PM
Sanjeev, any plans to update the http://www.pdh-inc.com/ website? Using Go Daddy's free Website Builder tool screams 'unprofessional' to me. If I was a potential client of yours, and saw your website, I might look elsewhere.

No, our website will be relatively cheap...perhaps cheap looking if that's what it looks like!  :) 

The links to the subsidiaries will have their higher quality corporate sites, generally done by 3rd parties.  No reason to spend a lot of money at the corporate holding company level.

If you come to our office, Cystic Fibrosis has a prominent sign on the wall that can be seen from the elevator.  Unless you looked at the building listing on the main level and our floor, you would not know we are even here.  The only thing I just did a couple of days ago, is to get our logo etched in frosted glass on our door, and the Clinic logo will be etched on its door...but both are relatively low key. 

Even if you walk up to the head office outside (see picture attached), you'll see four prominent signs of the tenants in the building...Garda, Monarch House, Dollar Tree...Premier Diagnostic Center!  Not Premier Diversified Holdings.  I don't care if people can't find us, but I want them to find the Clinic.

Many of you may wonder what we are modelling ourselves after...Berkshire, Fairfax, Markel...the model is really Leucadia.  We will buy undervalued assets, preferably at distressed prices, and may have to turn them around.  We will keep a very low profile, as lean as we can at head office, and we'll be as upfront as we can with you all, without tipping our hands.  We won't be a glamour stock, but one that will hopefully make a lot of money for you over time. 

Sometimes you'll wonder what we are doing, what is wrong with us, or why did we buy that.  Always be assured that we are weighing risk and reward, and will make some concentrated bets from time to time.  Unlike Berkshire, if the economics of a business change, we may sell.  But if we own 51% or better, it makes good money, we will keep it as long as we can.  We like tax losses...we have a pile of them...we plan to maximize that asset.

So we worry about those things, and we probably won't spend money on a better corporate website.  Here are some nicer sites that are worth visiting:

www.petscan.ca

www.sequantre.com

www.russellbeer.com

www.fortgarry.com

We're working on some more nice sites for our shareholders to visit over the next 6-12 months!  :)  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on September 03, 2015, 01:57:27 PM
It's not big deal, but the website seems to invite potential customers.

There is a section "Our Services" with bullet list
"
    Acquisitions
    Funding
    Turnarounds
    Management
    Execution
"

And none of these are links. :)

I was wondering if I could order execution of some Canadian CoBF members, but apparently I'll have to wait for website update.  8)

Good luck!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: adesigar on September 03, 2015, 03:08:41 PM
Has anyone bought shares of PRDGF through a US broker like Ameritrade, Fidelity, etc. Ive been trying to buy shares but no luck.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on September 03, 2015, 03:14:40 PM
Has anyone bought shares of PRDGF through a US broker like Ameritrade, Fidelity, etc. Ive been trying to buy shares but no luck.

I had limited success through Scottrade. Oftentimes would take 2-3 days for an order to fill, but I picked up shares.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on September 03, 2015, 04:48:43 PM
Has anyone bought shares of PRDGF through a US broker like Ameritrade, Fidelity, etc. Ive been trying to buy shares but no luck.

I have picked up some shares with Ameritrade, but it takes time.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: fareastwarriors on September 03, 2015, 05:25:11 PM
Has anyone bought shares of PRDGF through a US broker like Ameritrade, Fidelity, etc. Ive been trying to buy shares but no luck.

I have picked up some shares with Ameritrade, but it takes time.

I got some through etrade.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: PLynchJr on September 04, 2015, 05:01:18 AM
I've been able to buy a good sized position through Fidelity.  Definitely takes some patience though.  I'm talking a few thousand dollars here...a few thousand dollars there.  My largest 1 day purchase so far was just under $9,000.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on September 08, 2015, 05:56:08 AM
I've been able to buy a good sized position through Fidelity.  Definitely takes some patience though.  I'm talking a few thousand dollars here...a few thousand dollars there.  My largest 1 day purchase so far was just under $9,000.

I've been buying a little at a time through Fidelity as well.  I'm up to about 350K shares now.

Also about the website.  Squarespace (http://squarespace.com/) is a step up from go daddy and has some pretty nice website building tools included.  It is about $100/year so it won't break the bank.  When I was selling my home earlier this year I used them to advertize it.  The website is still up (http://www.hardyfarmsnh.com/).  They have a bunch of templates you can start with, they reconfigure themselves automatically for people viewing with desktop vs mobile devices, and even a free logo design tool, which I used for the chicken hardy farms logo.  Just something to consider.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: DCG on September 08, 2015, 06:13:10 AM
I've been able to buy a good sized position through Fidelity.  Definitely takes some patience though.  I'm talking a few thousand dollars here...a few thousand dollars there.  My largest 1 day purchase so far was just under $9,000.

I've been buying a little at a time through Fidelity as well.  I'm up to about 350K shares now.



Are you just betting on Sanjeev or is there something about the business you like?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on September 08, 2015, 06:38:46 AM
I've been able to buy a good sized position through Fidelity.  Definitely takes some patience though.  I'm talking a few thousand dollars here...a few thousand dollars there.  My largest 1 day purchase so far was just under $9,000.

I've been buying a little at a time through Fidelity as well.  I'm up to about 350K shares now.



Are you just betting on Sanjeev or is there something about the business you like?

Just betting on Sanjeev at this point.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on September 09, 2015, 04:57:28 PM
Has anyone bought shares of PRDGF through a US broker like Ameritrade, Fidelity, etc. Ive been trying to buy shares but no luck.

Schwab online works.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on September 10, 2015, 09:05:21 AM
New hire at Sequent Re
http://www.royalgazette.com/article/20150910/BUSINESS04/150919993

Quote
Bermuda-based reinsurance company Sequant Re has appointed a new chief underwriting officer.

Victor Baillargeon, who has 35 years of experience in the industry, will lead the development of the company’s underwriting strategies to allow a range of investors access to the insurance-linked securities (ILS) market.

Sequant Re founder and CEO Guy Cloutier said: “As the ILS market continues to evolve, it is time for reinsurers to be innovative.

“It is Sequant’s vision to address the enormous gap between the true cost of risk — natural and man-made — and the protection actually provided through the traditional insurance and reinsurance market.

“With Vic on board, Sequant Re is well positioned to enhance its ILS offering and add value to our clients.”

Mr Baillargeon added: “I am delighted to be part of a company that has an innovative and fresh perspective on the future development of the convergence of reinsurance and insurance and the capital markets.

“We see current challenges in the reinsurance space as a tremendous opportunity.

“Investors and cedants are looking for solutions and it is our goal to increase the efficiency and flexibility of the securitisation process and facilitate the access to ILS.”
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Redskin212 on September 10, 2015, 11:21:43 AM
Updated website as well:

www.sequantre.com


Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: IntrinsicEdge on September 10, 2015, 12:19:08 PM
Sequant Re’s CEO and co-founder Guy Cloutier describes the marketplace being at an inflexion point

https://youtu.be/Qw6TYWHZ-xo
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 11, 2015, 06:32:54 PM
Sequant Re’s CEO and co-founder Guy Cloutier describes the marketplace being at an inflexion point

https://youtu.be/Qw6TYWHZ-xo

Guy will most likely be at our dinner again next April.  I encourage you all to meet him and ask him all about insurance.  He's one of the most knowledgeable people I know in the industry, and you'll see why we jumped at the chance to build Sequant Re with him!  He would fit in perfectly at Berkshire or Fairfax...glad he picked us!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on September 11, 2015, 08:50:06 PM
I assume you saw MKL's purchase of CATCo ( http://finance.yahoo.com/news/markel-acquire-assets-catco-investment-060000063.html ). Isn't FRMO through Bermuda stock exchange also playing in this field (not directly though)?
Looks like ILS ( https://en.wikipedia.org/wiki/Insurance-Linked_Securities_%28ILS%29 ) are sexy hot. ;)

Is there a risk in this field similar to risk with other structured finance products? Something like if huge cat hits, the buyers go bust and you can't offload ILS that you have on your hands? Is there counterparty risk for ILSes already sold? Sorry if these are naive questions. :)

Good luck.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: karthikpm on September 12, 2015, 09:03:10 AM
I assume you saw MKL's purchase of CATCo ( http://finance.yahoo.com/news/markel-acquire-assets-catco-investment-060000063.html ). Isn't FRMO through Bermuda stock exchange also playing in this field (not directly though)?
Looks like ILS ( https://en.wikipedia.org/wiki/Insurance-Linked_Securities_%28ILS%29 ) are sexy hot. ;)

Is there a risk in this field similar to risk with other structured finance products? Something like if huge cat hits, the buyers go bust and you can't offload ILS that you have on your hands? Is there counterparty risk for ILSes already sold? Sorry if these are naive questions. :)

Good luck.



+1 Jurgis.

I had read recently that Ajit Jain was not finding great opportunities in the reinsurance market now .That said I have no clue of ILS etc, they seem too complex for me .
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: kilroy04 on September 13, 2015, 06:48:13 AM
ILS - conceptually it is simple.  The company matches outsiders capital with a re-insurance market need. It does this for a fee - and can have their own capital participation or not  It is essentially the back office of a reinsurance company but instead of putting it's own capital at risk, it uses outsiders capital for those looking for a risk return relatively uncorrelated to the stock market.  The capital owners can choose the level of risk they would like - return of 5%, 10%, or higher depending on their appetite and availability in the market.  The company provides the underwriting/risk management expertise and matches the reinsurance market with the capital. It can match individual risk appetite with market needs because of Bermuda law that allows for very simple creation of capital tranches.

So, if you are a small hedge fund that wants to essentially own a reinsurance company for the purpose of the earnings of a reinsurance company, you don't have to acquire or create an insurance company.  You can simply go to Sequant and say - please put my capital to work. This is the risk profile in which I would like to invest. Sequant does the rest.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 14, 2015, 02:56:36 PM
Looks like ILS ( https://en.wikipedia.org/wiki/Insurance-Linked_Securities_%28ILS%29 ) are sexy hot. ;)

Is there a risk in this field similar to risk with other structured finance products? Something like if huge cat hits, the buyers go bust and you can't offload ILS that you have on your hands?

Is there counterparty risk for ILSes already sold? Sorry if these are naive questions. :)


Answers to your questions:

Yes, ILS market is one of the fastest growing sectors of the insurance market.  Completely uncorrelated to other asset classes.

Yes, there is some risk to the investor, but remember that the ILS portfolios Sequant designs have multiple (generally 10-15) reinsurance contracts so that they are not terribly correlated.  Not unlike say buying a basket of stocks, mixed duration and types of bonds, etc...you can have losses in one or two of the contracts, but losses in all is very unlikely.  In terms of unloading the risk, the cells are fully collateralized, and are not held by Sequant...so no counterparty risk at all to Sequant...we are essentially the broker.

Yes, there are multiple types of insurance linked securities out there, and you can buy counter-party insurance for those securities...catastrophe bonds are an example of existing ILS's.  But no one is doing what Sequant is doing, where the portfolios are in investment cells, fully collateralized, and eventually will have a tradeable platform in the future, not unlike investors simply buying ETF's on exchanges.

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Pelagic on September 14, 2015, 03:19:29 PM
Looks like ILS ( https://en.wikipedia.org/wiki/Insurance-Linked_Securities_%28ILS%29 ) are sexy hot. ;)

Is there a risk in this field similar to risk with other structured finance products? Something like if huge cat hits, the buyers go bust and you can't offload ILS that you have on your hands?

Is there counterparty risk for ILSes already sold? Sorry if these are naive questions. :)


Answers to your questions:

Yes, ILS market is one of the fastest growing sectors of the insurance market.  Completely uncorrelated to other asset classes.

Yes, there is some risk to the investor, but remember that the ILS portfolios Sequant designs have multiple (generally 10-15) reinsurance contracts so that they are not terribly correlated.  Not unlike say buying a basket of stocks, mixed duration and types of bonds, etc...you can have losses in one or two of the contracts, but losses in all is very unlikely.  In terms of unloading the risk, the cells are fully collateralized, and are not held by Sequant...so no counterparty risk at all to Sequant...we are essentially the broker.

Yes, there are multiple types of insurance linked securities out there, and you can buy counter-party insurance for those securities...catastrophe bonds are an example of existing ILS's.  But no one is doing what Sequant is doing, where the portfolios are in investment cells, fully collateralized, and eventually will have a tradeable platform in the future, not unlike investors simply buying ETF's on exchanges.

Cheers!

Forgive me if this question is a little basic but for an investor buying ILS's, do they have a choice in which risks to participate (i.e. construct a portfolio of just say hurricane related cat insurance) or is it just a diversified basket approach. If the latter, can the investor view the component insurance contracts of an ILS to make comparisons between different ILS's?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 14, 2015, 05:05:06 PM
Looks like ILS ( https://en.wikipedia.org/wiki/Insurance-Linked_Securities_%28ILS%29 ) are sexy hot. ;)

Is there a risk in this field similar to risk with other structured finance products? Something like if huge cat hits, the buyers go bust and you can't offload ILS that you have on your hands?

Is there counterparty risk for ILSes already sold? Sorry if these are naive questions. :)


Answers to your questions:

Yes, ILS market is one of the fastest growing sectors of the insurance market.  Completely uncorrelated to other asset classes.

Yes, there is some risk to the investor, but remember that the ILS portfolios Sequant designs have multiple (generally 10-15) reinsurance contracts so that they are not terribly correlated.  Not unlike say buying a basket of stocks, mixed duration and types of bonds, etc...you can have losses in one or two of the contracts, but losses in all is very unlikely.  In terms of unloading the risk, the cells are fully collateralized, and are not held by Sequant...so no counterparty risk at all to Sequant...we are essentially the broker.

Yes, there are multiple types of insurance linked securities out there, and you can buy counter-party insurance for those securities...catastrophe bonds are an example of existing ILS's.  But no one is doing what Sequant is doing, where the portfolios are in investment cells, fully collateralized, and eventually will have a tradeable platform in the future, not unlike investors simply buying ETF's on exchanges.

Cheers!

Forgive me if this question is a little basic but for an investor buying ILS's, do they have a choice in which risks to participate (i.e. construct a portfolio of just say hurricane related cat insurance) or is it just a diversified basket approach. If the latter, can the investor view the component insurance contracts of an ILS to make comparisons between different ILS's?

No problem!  The answer is either.  Sequant can assemble a specific basket for you, or if you want specific exposures, they will customize it based on your request. 

In terms of the components and inspecting them...Redskin212...know the answer?  I suspect there is a certain amount of confidentiality around the insurer that is looking for reinsurance, so the identity would not be provided, but the quality of the insurer (AA, A, B, etc) could probably be disclosed. 

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: netnet on September 18, 2015, 11:02:37 AM
For those of you who have not been paying attention, here is the Parsad's bulls-eye.

Quote
Investors should be focused on two things:  Is our net operating revenue growing when one-time costs are removed?  Is book/value per share increasing over time?  As one-time costs dissipate and our operating businesses continue to grow, we expect that to happen.  Take a look at our growth in revenues at the Burnaby Clinic.  That business has about a 60% gross margin, but 28% net profit margin now at the levels it is running at!  It's not even running at 40% of capacity yet!  This was doing nothing last year and had a massive burden of payables.  It's reputation was a laughingstock!  Recently, we were the only clinic in Western Canada selected for an Alzheimer's drug trial.  We have about 70-80 different doctors referring to us now with patients from BC, Alberta and Vancouver Island..
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: undervalued on September 21, 2015, 10:47:43 AM
Anyone here had any success buying PRDGF through IB? I've seen a few questions but no one give an answer. I just tried putting an order and it asked me to login to Account Management. Not sure which step I am missing. I will ask customer rep.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on September 21, 2015, 11:04:41 AM
Anyone here had any success buying PRDGF through IB? I've seen a few questions but no one give an answer. I just tried putting an order and it asked me to login to Account Management. Not sure which step I am missing. I will ask customer rep.

They wouldn't let me transfer it when I moved my account over, so I doubt they trade it.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on October 05, 2015, 03:27:09 PM
Premier Diversified Holdings Inc. ("Premier") (CSE: PDH) announces that on September 30, 2015 it acquired 7.50 units of Bentley Homes Limited Partnership ("BHLP") for a total subscription price of $375,000, paid in cash. Premier acquired the units for investment purposes. BHLP is a newly formed limited partnership which was formed for the purpose of acquiring a certain property development opportunity in Vancouver, B.C. BHLP intends to develop a four unit residential housing complex on a lot located in an east Vancouver neighbourhood. The development will be managed by BHLP 's general partner, Bentley Homes Ltd., which is managed by a team from Kingswood Asset Management, a Vancouver-based real estate investment firm. “Kingswood has a terrific management team in Ketan Ladva, Sanjiv Sheth and Vipul Pachchigar”, stated Sanjeev Parsad, CEO of PDH. “In real estate, managing leverage and minimizing downside risk are essential over the real estate cycle. Kingswood’s team understands that and we look forward to a long and rewarding relationship with them.” Premier will not be active in the management or operations of BHLP, Bentley Homes Ltd. or Kingswood Asset Management. More information about Kingswood Asset Management may be found at www.kingswood.ca
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on October 06, 2015, 06:11:43 AM
Premier Diversified Holdings Inc. ("Premier") (CSE: PDH) announces that on September 30, 2015 it acquired 7.50 units of Bentley Homes Limited Partnership ("BHLP") for a total subscription price of $375,000, paid in cash. Premier acquired the units for investment purposes. BHLP is a newly formed limited partnership which was formed for the purpose of acquiring a certain property development opportunity in Vancouver, B.C. BHLP intends to develop a four unit residential housing complex on a lot located in an east Vancouver neighbourhood. The development will be managed by BHLP 's general partner, Bentley Homes Ltd., which is managed by a team from Kingswood Asset Management, a Vancouver-based real estate investment firm. “Kingswood has a terrific management team in Ketan Ladva, Sanjiv Sheth and Vipul Pachchigar”, stated Sanjeev Parsad, CEO of PDH. “In real estate, managing leverage and minimizing downside risk are essential over the real estate cycle. Kingswood’s team understands that and we look forward to a long and rewarding relationship with them.” Premier will not be active in the management or operations of BHLP, Bentley Homes Ltd. or Kingswood Asset Management. More information about Kingswood Asset Management may be found at www.kingswood.ca

I don't follow the Canadian real estate market, but I was under the impression that it was in bubble territory at the moment.  Is there any fear that it will burst and make this an unprofitable venture?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on October 07, 2015, 07:06:12 AM
Premier Diversified Holdings Inc. ("Premier") (CSE: PDH) announces that on September 30, 2015 it acquired 7.50 units of Bentley Homes Limited Partnership ("BHLP") for a total subscription price of $375,000, paid in cash. Premier acquired the units for investment purposes. BHLP is a newly formed limited partnership which was formed for the purpose of acquiring a certain property development opportunity in Vancouver, B.C. BHLP intends to develop a four unit residential housing complex on a lot located in an east Vancouver neighbourhood. The development will be managed by BHLP 's general partner, Bentley Homes Ltd., which is managed by a team from Kingswood Asset Management, a Vancouver-based real estate investment firm. “Kingswood has a terrific management team in Ketan Ladva, Sanjiv Sheth and Vipul Pachchigar”, stated Sanjeev Parsad, CEO of PDH. “In real estate, managing leverage and minimizing downside risk are essential over the real estate cycle. Kingswood’s team understands that and we look forward to a long and rewarding relationship with them.” Premier will not be active in the management or operations of BHLP, Bentley Homes Ltd. or Kingswood Asset Management. More information about Kingswood Asset Management may be found at www.kingswood.ca

I don't follow the Canadian real estate market, but I was under the impression that it was in bubble territory at the moment.  Is there any fear that it will burst and make this an unprofitable venture?

I am guessing you have never been to Vancouver Rkbabang?  Housing in Van. is likely in a bubble, but it may always be a very high priced market.  Vancouver is sandwiched between the mountains and the sea.  There is limited land available for residential housing.  As it is people have built in steadily more dangerous areas up the mountainsides.  The closest corollary I can come up with where I have visited is San Francisco.  Like SF, Van. is spectacularly beautiful, if a little damp for my tastes (The surrounding mountains are a rainforest).  The difference from Sf is there is no significant suburban context (Oakland) to take the pressure off.  Everything up or down the coast or farther up the Fraser Valley is mountainous.  Building highways into and out of the city in any direction is insanely expensive.

My read is the supply for multiple residential units hasn't kept pace with demand.  Van. keeps growing and there is nowhere to go except vertical.  Sanj. has lived there his whole life so I think he has a general idea what is going on, being a value investor and all.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on October 07, 2015, 07:15:26 AM
Premier Diversified Holdings Inc. ("Premier") (CSE: PDH) announces that on September 30, 2015 it acquired 7.50 units of Bentley Homes Limited Partnership ("BHLP") for a total subscription price of $375,000, paid in cash. Premier acquired the units for investment purposes. BHLP is a newly formed limited partnership which was formed for the purpose of acquiring a certain property development opportunity in Vancouver, B.C. BHLP intends to develop a four unit residential housing complex on a lot located in an east Vancouver neighbourhood. The development will be managed by BHLP 's general partner, Bentley Homes Ltd., which is managed by a team from Kingswood Asset Management, a Vancouver-based real estate investment firm. “Kingswood has a terrific management team in Ketan Ladva, Sanjiv Sheth and Vipul Pachchigar”, stated Sanjeev Parsad, CEO of PDH. “In real estate, managing leverage and minimizing downside risk are essential over the real estate cycle. Kingswood’s team understands that and we look forward to a long and rewarding relationship with them.” Premier will not be active in the management or operations of BHLP, Bentley Homes Ltd. or Kingswood Asset Management. More information about Kingswood Asset Management may be found at www.kingswood.ca

I don't follow the Canadian real estate market, but I was under the impression that it was in bubble territory at the moment.  Is there any fear that it will burst and make this an unprofitable venture?

I am guessing you have never been to Vancouver Rkbabang?  Housing in Van. is likely in a bubble, but it may always be a very high priced market.  Vancouver is sandwiched between the mountains and the sea.  There is limited land available for residential housing.  As it is people have built in steadily more dangerous areas up the mountainsides.  The closest corollary I can come up with where I have visited is San Francisco.  Like SF, Van. is spectacularly beautiful, if a little damp for my tastes (The surrounding mountains are a rainforest).  The difference from Sf is there is no significant suburban context (Oakland) to take the pressure off.  Everything up or down the coast or farther up the Fraser Valley is mountainous.  Building highways into and out of the city in any direction is insanely expensive.

My read is the supply for multiple residential units hasn't kept pace with demand.  Van. keeps growing and there is nowhere to go except vertical.  Sanj. has lived there his whole life so I think he has a general idea what is going on, being a value investor and all.


No I never have, which is why I was asking.  I've been to Vancouver, Washington, but never Vancouver, BC, and even that was about 15 years ago. The whole of my knowledge of the real estate situation is hearing people say or reading about the "Canadian real estate market" being overvalued.  I realize that Canada is quite a large place and you can't take a generalization of the entire country and apply it to every local situation. Thanks for adding a little color to my very limited understanding.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wisdom on October 07, 2015, 08:11:20 AM
Vancouver RE is most likely a bubble, but, without knowing the specifics of the deal it is impossible to comment on the investment. It depends on the opportunity (city offers opporunities for rezoning of properties) and time line of the project. Additional opportunities can arise if the market or seller are not well informed about future plans for the neighbourhood.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: RichardGibbons on October 07, 2015, 08:47:44 AM
What Uccmal said is the second most popular local meme. However, for some reason the "lack of space" shows up only in housing prices, not in rents.  If the meme were actually true, then rents would be much higher.  Once you start looking at price to rent ratios, the bubble is pretty obvious.

(The key difference is--which I figure you in particular will appreciate--is that you can't borrow massive amounts of money subsidized heavily by the government in order to rent real estate.  You can do so in order to buy. Government interference has distorted the Vancouver market to a huge degree.)

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on October 07, 2015, 09:22:13 AM
What Uccmal said is the second most popular local meme. However, for some reason the "lack of space" shows up only in housing prices, not in rents.  If the meme were actually true, then rents would be much higher.  Once you start looking at price to rent ratios, the bubble is pretty obvious.

(The key difference is--which I figure you in particular will appreciate--is that you can't borrow massive amounts of money subsidized heavily by the government in order to rent real estate.  You can do so in order to buy. Government interference has distorted the Vancouver market to a huge degree.)

That is usually the reason for bubbles of this type.  I just searched for Vancouver properties on 16th Avenue and all I can say is wow, is this for real?   

http://www.rew.ca/properties/V1129657/1187-west-16th-avenue-vancouver?property_search=342843227

This would be about $300K where I am.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on October 07, 2015, 09:35:51 AM
And you are correct, rents do not appear to be all that high, compared with paying $millions to buy a 2500sqft duplex.

https://renthello.com/?search=West%2016th%20Avenue,%20Vancouver,%20BC,%20Canada
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: nodnub on October 07, 2015, 10:36:19 AM
What Uccmal said is the second most popular local meme. However, for some reason the "lack of space" shows up only in housing prices, not in rents.  If the meme were actually true, then rents would be much higher.  Once you start looking at price to rent ratios, the bubble is pretty obvious.

(The key difference is--which I figure you in particular will appreciate--is that you can't borrow massive amounts of money subsidized heavily by the government in order to rent real estate.  You can do so in order to buy. Government interference has distorted the Vancouver market to a huge degree.)

I agree properties are highly priced and the price-to-rent ratio is high... I have been singing this tune for a long time.  The ratio might normalize by rising rents.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wisdom on October 07, 2015, 11:23:08 AM
How will the rents rise?

1) growth in income - there has been no growth in income plus the resource industry is hurting.
2) job growth - housing is already 7% of GDP. US is under 4%. I don't see where the job growth is going to come from.
3) shortage of rentals - every detached house seems to have 1 to 2 rental suites since the house prices are unaffordable. Where will the shortage come from.
4) immigration - slows down when there is a slow down in the economy. Check out the federal elections - 2 tiered Canadian citizenship or the discussion on Niqab's. It has already started. Or the talk that Asians are buying up all our real estate. This is all in reponse to a slowing economy where immigrants face a backlash.

It is a different story if you have property re-zoned, change it to high density, sub-divide, etc.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on October 07, 2015, 11:41:40 AM
Back to PDH specifically, I wonder if the plan for this RE venture is to build the 4 units then sell them while the prices are still high, or to keep them and manage them?   From the blurb that was posted it sounds like the latter.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: nodnub on October 07, 2015, 12:44:58 PM
How will the rents rise?

1) growth in income - there has been no growth in income plus the resource industry is hurting.
2) job growth - housing is already 7% of GDP. US is under 4%. I don't see where the job growth is going to come from.
3) shortage of rentals - every detached house seems to have 1 to 2 rental suites since the house prices are unaffordable. Where will the shortage come from.
4) immigration - slows down when there is a slow down in the economy. Check out the federal elections - 2 tiered Canadian citizenship or the discussion on Niqab's. It has already started. Or the talk that Asians are buying up all our real estate. This is all in reponse to a slowing economy where immigrants face a backlash.

It is a different story if you have property re-zoned, change it to high density, sub-divide, etc.

I tend to agree with those points.

However, I have observed rents in Vancouver core are rising significantly over the last 5 years.  (just acedotal, looking at various apartments/condos and neighborhoods).  I could be wrong on the whole... maybe my observations are skewed toward gentrifying neighbourhoods.

I note that few apartment buildings have been built in the last 20+ years.  Maybe been replaced by condos rentals...  but condo rents can be raised a lot faster in aggregate because they are individually owned and individual owners can more easily evict a tenant (couple legal methods) and then put it back in the rental market at a higher rent. In the apartment buildings the rent increases for existing tenants are limited to the govt approved increases (around 2-3% per year recently)... and it's hard to "renovict" tenants and not possible to use the immediate family member moving in type of eviction.

-- sorry I will stop taking this thread off-topic.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on October 07, 2015, 01:20:06 PM
What Uccmal said is the second most popular local meme. However, for some reason the "lack of space" shows up only in housing prices, not in rents.  If the meme were actually true, then rents would be much higher.  Once you start looking at price to rent ratios, the bubble is pretty obvious.

(The key difference is--which I figure you in particular will appreciate--is that you can't borrow massive amounts of money subsidized heavily by the government in order to rent real estate.  You can do so in order to buy. Government interference has distorted the Vancouver market to a huge degree.)

I agree properties are highly priced and the price-to-rent ratio is high... I have been singing this tune for a long time.  The ratio might normalize by rising rents.

Rent control has alot to do with it.  A new unit is not subject to rental controls until its occupied.  Kingswood's website indicates they do property management.  Anyway, We dont have details. 

A cursory look at major cities in developed countries shows how the trend unfolds.  London, Manhattan, SF for example.  House prices dropped after the crisis but they are right back up.  The density increases.  The world population is not dropping.  Canada is not getting any less safe from a stable governance perspective.  So what if Van. is in a housing bubble.  If prices adjust downward 40% they will just turn around and start the march back up.  This has been going on in Van. for nearly 40 years.  My uncle was complaining 35 years ago about Chinese buying houses in Richmond, tearing them down and building monster homes on tiny lots.  Are the prices really outlandish when you compare them to London, or Manhattan, rather than comparing them to rural or small city Canada? 

I am seeing the same effect in Toronto.  At some point Toronto prices will correct, but it will be temporary unless The rest of the world suddenly gets good government.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on October 07, 2015, 05:02:44 PM
You guys...don't read too much into the investment.  This is as much an investment to see exactly how Kingswood operates, as much as it is an investment with a respectable rate of return we expect if the environment stays the same or deteriorates slightly.  How Kingswood executes will decide our relationship with them long-term.  This is a small investment and we may do a couple of these with them staggered over 18-24 months or so.

Overall, I've thought real estate in Vancouver has been in a bubble for years, but like any bubble...it can continue for many years past common sense!  We are preparing for the current environment, as well as what I expect to happen in the future at some point in time (just don't know when).  Our belief is that a partnership with Kingswood (presently as an investor, possibly as an equity stake in the future) would be good in this environment and even better if things become far cheaper.

Real estate when done right can be a very good investment long-term, simply due to the underlying leverage involved.  Finding people who really understand real estate through cycles, like we understand equities through cycles, is tough.  You guys should view this not that differently than Fairfax's investment in Kennedy Wilson...a long-term partnership with some smart people with very good skill sets.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: RichardGibbons on October 07, 2015, 09:33:32 PM
Rent control has little to do with Vancouver's high price-to-rent ratio. Landlords can charge whatever they like when a new tenant signs a lease. Thus, rental ads represent the highest amount of rent that landlords believe they can get for a unit.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on October 07, 2015, 09:50:13 PM
What Uccmal said is the second most popular local meme. However, for some reason the "lack of space" shows up only in housing prices, not in rents.  If the meme were actually true, then rents would be much higher.  Once you start looking at price to rent ratios, the bubble is pretty obvious.

(The key difference is--which I figure you in particular will appreciate--is that you can't borrow massive amounts of money subsidized heavily by the government in order to rent real estate.  You can do so in order to buy. Government interference has distorted the Vancouver market to a huge degree.)

I agree properties are highly priced and the price-to-rent ratio is high... I have been singing this tune for a long time.  The ratio might normalize by rising rents.

Rent control has alot to do with it.  A new unit is not subject to rental controls until its occupied.  Kingswood's website indicates they do property management.  Anyway, We dont have details. 

A cursory look at major cities in developed countries shows how the trend unfolds.  London, Manhattan, SF for example.  House prices dropped after the crisis but they are right back up.  The density increases.  The world population is not dropping.  Canada is not getting any less safe from a stable governance perspective.  So what if Van. is in a housing bubble.  If prices adjust downward 40% they will just turn around and start the march back up.  This has been going on in Van. for nearly 40 years.  My uncle was complaining 35 years ago about Chinese buying houses in Richmond, tearing them down and building monster homes on tiny lots.  Are the prices really outlandish when you compare them to London, or Manhattan, rather than comparing them to rural or small city Canada? 

I am seeing the same effect in Toronto.  At some point Toronto prices will correct, but it will be temporary unless The rest of the world suddenly gets good government.

I would think rent controls would drive advertised rents higher, not lower.

Anything that hurts the property investor would make him less interested in property investment -- this would lead to fewer apartments developed if fewer investors are interested.  In theory anyway.

Fewer apartments for rent means higher rents.  Therefore, rent controls drive rents higher.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on October 08, 2015, 05:20:35 AM
Rent control has little to do with Vancouver's high price-to-rent ratio. Landlords can charge whatever they like when a new tenant signs a lease. Thus, rental ads represent the highest amount of rent that landlords believe they can get for a unit.

I didn't know that the rent to price ratios were calculated from advertised rates.  I guess I am wrong. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on October 08, 2015, 06:38:03 AM
You guys...don't read too much into the investment.  This is as much an investment to see exactly how Kingswood operates, as much as it is an investment with a respectable rate of return we expect if the environment stays the same or deteriorates slightly.  How Kingswood executes will decide our relationship with them long-term.  This is a small investment and we may do a couple of these with them staggered over 18-24 months or so.

Overall, I've thought real estate in Vancouver has been in a bubble for years, but like any bubble...it can continue for many years past common sense!  We are preparing for the current environment, as well as what I expect to happen in the future at some point in time (just don't know when).  Our belief is that a partnership with Kingswood (presently as an investor, possibly as an equity stake in the future) would be good in this environment and even better if things become far cheaper.

Real estate when done right can be a very good investment long-term, simply due to the underlying leverage involved.  Finding people who really understand real estate through cycles, like we understand equities through cycles, is tough.  You guys should view this not that differently than Fairfax's investment in Kennedy Wilson...a long-term partnership with some smart people with very good skill sets.  Cheers!

Thanks for the color!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: RichardGibbons on October 08, 2015, 11:08:24 PM
I didn't know that the rent to price ratios were calculated from advertised rates.  I guess I am wrong.

As far as I know, "official metrics" are based on surveys of actual rents and actual sale prices.  However, rkbabang's examples were comparing asking sale prices to asking rent prices, which is what I was referring to.

I think that "asking to asking" still makes sense as a metric, since, if you're buying real estate as an investment, you're probably buying it for close to asking price and renting it for close to asking rents of comparable buildings.

(OK enough cluttering up the PDH thread.  Sorry everyone.)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on November 08, 2015, 06:36:59 AM
Premier bought more Sequent for 4X the original purchase price.  Anyone have any insight into this transaction?

Quote
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to announce that on November 3, 2015 it acquired 158,000 common shares of Sequant Re Holdings Limited ("SRHL") at USD$2.00 per common share for total aggregate consideration of USD$316,000

http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030626

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 08, 2015, 07:22:52 AM
They are buying stock to offset dilution to keep their original percent ownership. Since it has gone up 4x, the original purchase was $1,505,000 and it is now worth $6,020,000.  This will be a nice bump to book value!

http://www.thecse.com/CNSX/Securities/Diversified-Industries/Premier-Diversified-Holdings-Inc.aspx

Premier currently holds approximately 32.37% of the issued and outstanding common shares of SRHL. It is acquiring additional shares to allow it to maintain a similar equity position in SRHL and reduce dilution of its holdings



Premier bought more Sequent for 4X the original purchase price.  Anyone have any insight into this transaction?

Quote
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to announce that on November 3, 2015 it acquired 158,000 common shares of Sequant Re Holdings Limited ("SRHL") at USD$2.00 per common share for total aggregate consideration of USD$316,000

http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030626
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on November 09, 2015, 07:55:54 AM
Is SRHL listed/public? Or is it private and the prices are determined through gentlemen's agreement?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 09, 2015, 09:04:29 AM
Private and I would hope there is a bit more analysis to determine the price then a gentleman's agreement  :) 

Is SRHL listed/public? Or is it private and the prices are determined through gentlemen's agreement?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on November 09, 2015, 09:11:06 AM
Private and I would hope there is a bit more analysis to determine the price then a gentleman's agreement  :) 

Is SRHL listed/public? Or is it private and the prices are determined through gentlemen's agreement?

I am sure there is. :)
Thanks.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 01, 2015, 08:59:17 AM
Sanjeev, when will you be releasing year end results?  Based on my understanding Sept 30th was the end of your fiscal year. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: LesPaul on December 01, 2015, 10:04:37 AM
Sanjeev, when will you be releasing year end results?  Based on my understanding Sept 30th was the end of your fiscal year.

I believe January 28th is the latest they can file - check out the link here: https://www.osc.gov.on.ca/en/Companies_filing-calendar_index.htm
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on December 01, 2015, 02:32:10 PM
Sanjeev, when will you be releasing year end results?  Based on my understanding Sept 30th was the end of your fiscal year.

I believe January 28th is the latest they can file - check out the link here: https://www.osc.gov.on.ca/en/Companies_filing-calendar_index.htm

Correct.  We plan on filing before that, but that is the official deadline.  Thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on December 07, 2015, 04:25:02 PM
Sanjeev,

Aren't buy backs making sense at these prices or you have much better options besides the ones we already know of at this time?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on December 08, 2015, 04:47:09 AM
Sanjeev,

Aren't buy backs making sense at these prices or you have much better options besides the ones we already know of at this time?

I have never piped in before, preferring to leave Sanjeev to run the business.  I dont care for buy backs, but I would really like to see at least a 20:1 stock consolidation.  A 0.18 cent stock price is ridiculous, and its going to take years to get it above $2.00 where it counts toward margin in your account. 

How about it Sanj?  Seems a stroke of the pen should do the job. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on December 08, 2015, 07:43:44 AM
Speaking of margin.  Someone with a Scotiabank account had to do some panic selling yesterday.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on December 08, 2015, 08:20:31 AM
my brokerage company(which I have to use for compliance purposes) will not even let me buy PDH. They do not allow any buys of stocks priced less than $1. It would be nice if at least we could do a reverse share split like UCCMAL proposed.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 08, 2015, 08:29:27 AM
Al, I would personally prefer Sanjeev not to waste shareholder capital on unnecessary actions such as a reverse split.  In time the stock will cross the $2 mark where you can count it towards margin in your account.    The amount that would be required for lawyer fees/sending out shareholder material etc. required to do the reverse split would be better used to grow their imaging business in China through new partnerships, invest in the current re-insurance business (which has grow by 4x in the first year), purchasing stock on the open market or worst case used to repurchase stock.  All those items would create additional shareholder value then burning it in a reverse split. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on December 08, 2015, 08:32:05 AM
Al, I would personally prefer Sanjeev not to waste shareholder capital on unnecessary actions such as a reverse split.  In time the stock will cross the $2 mark where you can count it towards margin in your account.    The amount that would be required for lawyer fees/sending out shareholder material etc. required to do the reverse split would be better used to grow their imaging business in China through new partnerships, invest in the current re-insurance business (which has grow by 4x in the first year), purchasing stock on the open market or worst case used to repurchase stock.  All those items would create additional shareholder value then burning it in a reverse split.

Completely agree. Patience, patience folks. :)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on December 08, 2015, 11:31:28 AM
Hi Folks,

I have to be careful what I discuss with you guys, but I will try and give what color I can:

- in terms of buybacks...because we have a certain burn rate at head office and with Sequant Re, buying back shares is only useful to us if we can buy back those shares at below cash/share where it is accretive, as we will need that cash for at least the next year or so.  Once the company is fully profitable, then we can consider using excess cash to buy back shares.

- in terms of a reverse split...a lot of the original investors have a negative mentality when it comes to reverse splits, so we are hesitant to do this at the moment...it also won't help us or our shareholders significantly while on the CSE.  A reverse split will improve trading and associated costs, etc once we list on the TSXV or even directly on to the TSE big board.  Also as mentioned, each time we do an information circular and have to involve Computershare and Broadridge, our cost is around $50-80K...like the tender for Russell.  We only want to spend that money if it will meaningfully benefit shareholders and the company.

- I cannot espouse patience enough for our shareholders...some years we'll be very busy and some years quiet, but underneath a lot is happening.  We've had three deals go sideways this year simply because negotiations at the highest levels couldn't come to agreement.  We have to do what is right for our shareholders first and make sure we always have a huge margin of safety.

- As mentioned, our goal is to make sure the company is fully profitable and that we are increasing shareholder value.  Last year, we got our Burnaby clinic up and running, and now it is thriving and we are seeing the success of those efforts.  There is a tremendous amount of work being done at Sequant...it is becoming a world-class start-up and I expect 2016 to show considerable fruits from the Sequant team's hard work.  You will hear about the progress finally making headway in China...as well as what is happening at Russell...and we hope to certainly close on at least 2 deals in 2016...all of this will be discussed in our annual letter, at the AGM and in Toronto.

In the meantime, here is a story in Canadian Business Journal on PDH.  Enjoy!

http://www.cbj.ca/EMAG/2015/Dec/CBJ.php#114

All the best,

Sanjeev
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on December 08, 2015, 01:00:37 PM
Hi Folks,

I have to be careful what I discuss with you guys, but I will try and give what color I can:

- in terms of buybacks...because we have a certain burn rate at head office and with Sequant Re, buying back shares is only useful to us if we can buy back those shares at below cash/share where it is accretive, as we will need that cash for at least the next year or so.  Once the company is fully profitable, then we can consider using excess cash to buy back shares.

- in terms of a reverse split...a lot of the original investors have a negative mentality when it comes to reverse splits, so we are hesitant to do this at the moment...it also won't help us or our shareholders significantly while on the CSE.  A reverse split will improve trading and associated costs, etc once we list on the TSXV or even directly on to the TSE big board.  Also as mentioned, each time we do an information circular and have to involve Computershare and Broadridge, our cost is around $50-80K...like the tender for Russell.  We only want to spend that money if it will meaningfully benefit shareholders and the company.

- I cannot espouse patience enough for our shareholders...some years we'll be very busy and some years quiet, but underneath a lot is happening.  We've had three deals go sideways this year simply because negotiations at the highest levels couldn't come to agreement.  We have to do what is right for our shareholders first and make sure we always have a huge margin of safety.

- As mentioned, our goal is to make sure the company is fully profitable and that we are increasing shareholder value.  Last year, we got our Burnaby clinic up and running, and now it is thriving and we are seeing the success of those efforts.  There is a tremendous amount of work being done at Sequant...it is becoming a world-class start-up and I expect 2016 to show considerable fruits from the Sequant team's hard work.  You will hear about the progress finally making headway in China...as well as what is happening at Russell...and we hope to certainly close on at least 2 deals in 2016...all of this will be discussed in our annual letter, at the AGM and in Toronto.

In the meantime, here is a story in Canadian Business Journal on PDH.  Enjoy!

http://www.cbj.ca/EMAG/2015/Dec/CBJ.php#114

All the best,

Sanjeev

+1 Sanj!

Thanks for the color
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on December 08, 2015, 02:25:31 PM
Hi Folks,

I have to be careful what I discuss with you guys, but I will try and give what color I can:

- in terms of buybacks...because we have a certain burn rate at head office and with Sequant Re, buying back shares is only useful to us if we can buy back those shares at below cash/share where it is accretive, as we will need that cash for at least the next year or so.  Once the company is fully profitable, then we can consider using excess cash to buy back shares.

- in terms of a reverse split...a lot of the original investors have a negative mentality when it comes to reverse splits, so we are hesitant to do this at the moment...it also won't help us or our shareholders significantly while on the CSE.  A reverse split will improve trading and associated costs, etc once we list on the TSXV or even directly on to the TSE big board.  Also as mentioned, each time we do an information circular and have to involve Computershare and Broadridge, our cost is around $50-80K...like the tender for Russell.  We only want to spend that money if it will meaningfully benefit shareholders and the company.

- I cannot espouse patience enough for our shareholders...some years we'll be very busy and some years quiet, but underneath a lot is happening.  We've had three deals go sideways this year simply because negotiations at the highest levels couldn't come to agreement.  We have to do what is right for our shareholders first and make sure we always have a huge margin of safety.

- As mentioned, our goal is to make sure the company is fully profitable and that we are increasing shareholder value.  Last year, we got our Burnaby clinic up and running, and now it is thriving and we are seeing the success of those efforts.  There is a tremendous amount of work being done at Sequant...it is becoming a world-class start-up and I expect 2016 to show considerable fruits from the Sequant team's hard work.  You will hear about the progress finally making headway in China...as well as what is happening at Russell...and we hope to certainly close on at least 2 deals in 2016...all of this will be discussed in our annual letter, at the AGM and in Toronto.

In the meantime, here is a story in Canadian Business Journal on PDH.  Enjoy!

http://www.cbj.ca/EMAG/2015/Dec/CBJ.php#114

All the best,

Sanjeev

Really exciting!

Thanks Sanjeev for the feedback.  ;D
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on December 08, 2015, 04:34:06 PM
Thanks for sharing Sanjeev.  Appreciate your time.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on December 08, 2015, 05:44:31 PM
Dear Sanjeev,

Don't spend a dime on the reverse split. You don't need to attract investors who buy your stock on margin. I don't care if I buy 1/100th of the pizza at 0,16 or the pizza at 16$. What matters is intrinsic value per share over the long term.

I'm happy to see that you prefer to spend the cash on the long term intrinsic value of the business.

Keep up the good work and thanks for the common sense.

Partner

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on December 08, 2015, 09:07:10 PM
Dear Sanjeev,

Don't spend a dime on the reverse split. You don't need to attract investors who buy your stock on margin. I don't care if I buy 1/100th of the pizza at 0,16 or the pizza at 16$. What matters is intrinsic value per share over the long term.

I'm happy to see that you prefer to spend the cash on the long term intrinsic value of the business.

Keep up the good work and thanks for the common sense.

Partner


Isn't it about reducing trading costs?

Let's say you want to buy $100,000 of shares.  I think the brokerage commission is going to be less if the shares are $100 each instead of 15 cents each.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 09, 2015, 05:11:41 AM
Eric, depends on the broker. I am with TD Waterhouse and there is a $9.99 flat trade charge per day. (no matter the price of the security)

Dear Sanjeev,

Don't spend a dime on the reverse split. You don't need to attract investors who buy your stock on margin. I don't care if I buy 1/100th of the pizza at 0,16 or the pizza at 16$. What matters is intrinsic value per share over the long term.

I'm happy to see that you prefer to spend the cash on the long term intrinsic value of the business.

Keep up the good work and thanks for the common sense.

Partner


Isn't it about reducing trading costs?

Let's say you want to buy $100,000 of shares.  I think the brokerage commission is going to be less if the shares are $100 each instead of 15 cents each.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on December 09, 2015, 06:51:31 AM
Ericopoly,

Well, I have a small fixed cost per transaction and I have a portfolio turnover rate less than 10% per year, but even if it would coss a few bucks more per transaction, these costs should be on the shoulders of individual shareholders. Those who want to trade more frequently would have a slightly higher cost on an individual basis (or they could find a broker who charge the same amount for the transactions like these), but the company as a whole will have more cash available to invest for the long term interest of all shareholders.

Cheers!



Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: abitofvalue on December 09, 2015, 07:05:06 AM
Hi Folks,

In the meantime, here is a story in Canadian Business Journal on PDH.  Enjoy!

http://www.cbj.ca/EMAG/2015/Dec/CBJ.php#114

All the best,

Sanjeev

Nice. got a Russell Breweries ad in there too.. synergies!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Cardboard on December 09, 2015, 07:12:51 AM
My two cents.

Leave the Venture Exchange as soon as possible and yes, get a respectable share price in the $10-20 range. Stay as is for now.

While I understand and fully agree with the current focus on keeping costs low and growing from here, the mid-term goal should be to get on the big board (TSX) which will help deal making a lot. As the company gets bigger that will be a big positive. So at some point, you have to throw out the logic of being ultra cheap because you will lose out more than you save.

Cardboard

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on December 09, 2015, 07:38:38 AM
Alright guys, but to quote Sanjeev's post:

  A reverse split will improve trading and associated costs


So what is he talking about if not commissions?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 09, 2015, 07:49:06 AM
I am assuming he is referring to liquidity as there will be a larger pool of individuals trading the stock e.g. OracleofCarolina cannot buy the stock as it is under $1... As a long term shareholder, I really don't care as my only concern is if IV is increasing. 

Alright guys, but to quote Sanjeev's post:

  A reverse split will improve trading and associated costs


So what is he talking about if not commissions?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on December 09, 2015, 07:56:14 AM
I am assuming he is referring to liquidity as there will be a larger pool of individuals trading the stock e.g. OracleofCarolina cannot buy the stock as it is under $1... As a long term shareholder, I really don't care as my only concern is if IV is increasing. 

Alright guys, but to quote Sanjeev's post:

  A reverse split will improve trading and associated costs


So what is he talking about if not commissions?

That makes sense for the "improving trading" portion of his quote...

... because liquidity may "improve trading".

However how does it make sense for the "associated costs" part?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on December 09, 2015, 08:09:20 AM
Sanj's explanation for not reverse splitting the stock is satisfactory to me for now.  Right now there is no sense wasting money.  If the stock gets there organically, all the better, but that is a heck of a return.  20% over ten years to get to $2.00.  I didn't consider there would be a cost assoicated with the process - should have known better. 

I do appreciate the colour on what is happening. 

I pay the flat rate for trading regardless of the amount of stock traded or dollar value - for common stock only - options are graduated. 

Al
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: giofranchi on December 09, 2015, 08:12:05 AM
Hi Folks,

In the meantime, here is a story in Canadian Business Journal on PDH.  Enjoy!

http://www.cbj.ca/EMAG/2015/Dec/CBJ.php#114

All the best,

Sanjeev

Nice. got a Russell Breweries ad in there too.. synergies!

+1! Very nice article! ;)

Sanjeev,
we run a small clinic downtown Milan, and we are now developing an mhealth platform for online consulting and telemedicine.
We work with the San Raffaele Hospital in Milan (one of the largest hospital in Norther Italy).
I know you are focused on China and Asia in general (and for very good reasons!)… But, should the European market ever interest you, and you judge I could be of any help in Italy, please don’t hesitate to let me know!

All the best,

Gio
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ham Hockers on December 09, 2015, 01:49:30 PM
Kind of sucks that a 1c move at 20c is a 5% swing ...
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 09, 2015, 02:13:11 PM
Kind of sucks that a 1c move at 20c is a 5% swing ...

Also kinda sucks that depending on whether your broker manages to get you half-cent better execution that's immediate 2.5% win or potential 2.5% lost opportunity. It's even worse for US prices that are at around 14 cents.

Don't say "use limit orders". I am talking about executions that are better-than-limit.

Also hard to get good executions with X0000 all-or-none orders .
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: leeway on December 10, 2015, 06:44:52 AM
For US investors, is it still the best way to buy PDH through PRDGF at Fidelity? I saw some people mentioned this but tried once without success.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on December 10, 2015, 07:01:34 AM
For US investors, is it still the best way to buy PDH through PRDGF at Fidelity? I saw some people mentioned this but tried once without success.


That is how I purchased it through my Schwab account.


-Steve
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: leeway on December 10, 2015, 08:15:39 AM
Thanks Steve.  I just called Fidelity and learned a little more on trading fees. It seems the trading cost is over 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + 0.0025 per share fee for Canadian broker + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 10, 2015, 08:36:56 AM
Thanks Steve.  I just called Fidelity and it seems the trading cost is about 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.

That's correct.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: intothebreach on December 10, 2015, 08:39:23 AM
In case this is useful to some investors here, the Canadian Securities Exchange site shows the order depth in addition to the quote and the last 5 trades:

http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/Premier-Diversified-Holdings-Inc.aspx
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: leeway on December 10, 2015, 09:17:01 AM
In case this is useful to some investors here, the Canadian Securities Exchange site shows the order depth in addition to the quote and the last 5 trades:

http://www.cnsx.ca/CNSX/Securities/Diversified-Industries/Premier-Diversified-Holdings-Inc.aspx

good to know. thanks
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on December 10, 2015, 09:19:36 AM
Lee, I checked my history and it looks like Schwab charged a flat $8.95 for the trade.


[size=78%]-Crip[/size]


Thanks Steve.  I just called Fidelity and learned a little more on trading fees. It seems the trading cost is over 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + 0.0025 per share fee for Canadian broker + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on December 10, 2015, 09:40:38 AM
Thanks Steve.  I just called Fidelity and learned a little more on trading fees. It seems the trading cost is over 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + 0.0025 per share fee for Canadian broker + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.

So the commission is approximately 10% due to the low share price.

You would obviously get more value if the shares traded for a more typical share price -- $20 per share or something.

But as discovered earlier in this thread, some shareholders just don't care because it doesn't affect them.

I missed my chance to invest in the offering because it was hard enough getting a mortgage as it was -- I couldn't add to my holdings of illiquid stocks.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on December 10, 2015, 09:52:54 AM
Thanks Steve.  I just called Fidelity and learned a little more on trading fees. It seems the trading cost is over 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + 0.0025 per share fee for Canadian broker + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.

So the commission is approximately 10% due to the low share price.

You would obviously get more value if the shares traded for a more typical share price -- $20 per share or something.

But as discovered earlier in this thread, some shareholders just don't care because it doesn't affect them.

I missed my chance to invest in the offering because it was hard enough getting a mortgage as it was -- I couldn't add to my holdings of illiquid stocks.


The offering was at $0.18 if I remember correctly.  Even with the commision the way it is at Fidelity my cost basis is lower than $0.18 on the shares I've purchased so far.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 10, 2015, 10:19:42 AM
Thanks Steve.  I just called Fidelity and learned a little more on trading fees. It seems the trading cost is over 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + 0.0025 per share fee for Canadian broker + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.

So the commission is approximately 10% due to the low share price.

You would obviously get more value if the shares traded for a more typical share price -- $20 per share or something.

But as discovered earlier in this thread, some shareholders just don't care because it doesn't affect them.

I missed my chance to invest in the offering because it was hard enough getting a mortgage as it was -- I couldn't add to my holdings of illiquid stocks.

It's not 10%. Assuming you buy 10K shares (you can get more with AoN, but you have to look at prices/order book), you are paying ~$60 commissions on 10K * $.15 = $1500. $60/$1500 = 4%. And Fido may or may not get you a bit better execution than $.15.
If your limit order at $.15 fills at $.148, you just saved 1/3 of the commission. ;)

Anyway, I agree with your other points somewhat. But this is really not about reverse split. It's about moving to TSX that Sanjeev promised as soon as practical.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on December 10, 2015, 01:29:33 PM
Thanks Steve.  I just called Fidelity and learned a little more on trading fees. It seems the trading cost is over 1 US cent per share: normal commission (say $8) plus $50 fee (foreign manual settlement fee) + 0.0025 per share fee for Canadian broker + bid/ask at the Canadian exchange / pink sheet. And All or None is not going to work for this. So practically to accumulate say 100K shares it seems the price would be 0.15+, compared to the 0.1380 last price on Yahoo.

That is how I purchased it through my Schwab account.

So the commission is approximately 10% due to the low share price.

You would obviously get more value if the shares traded for a more typical share price -- $20 per share or something.

But as discovered earlier in this thread, some shareholders just don't care because it doesn't affect them.

I missed my chance to invest in the offering because it was hard enough getting a mortgage as it was -- I couldn't add to my holdings of illiquid stocks.

It's not 10%. Assuming you buy 10K shares (you can get more with AoN, but you have to look at prices/order book), you are paying ~$60 commissions on 10K * $.15 = $1500. $60/$1500 = 4%. And Fido may or may not get you a bit better execution than $.15.
If your limit order at $.15 fills at $.148, you just saved 1/3 of the commission. ;)

Anyway, I agree with your other points somewhat. But this is really not about reverse split. It's about moving to TSX that Sanjeev promised as soon as practical.

It's 8.7% if you take him at his word that it costs 0.15+ and the shares are going for 0.138.

That's at 0.15.  I just said "approximately" to account for the "+" he tacked on there.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 10, 2015, 01:51:31 PM
It's 8.7% if you take him at his word that it costs 0.15+ and the shares are going for 0.138.

That's at 0.15.  I just said "approximately" to account for the "+" he tacked on there.

0.15 based on $.138 order is overstated IMO. I see approximately $.154 based on $.15 order that filled at $.148 or so. I don't have an exact CAD price at that moment, so there might or might not be currency slippage. YMMV though.

If Schwab charges only $8 and does not do any hanky panky with orders, they might be better for this than Fido.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gary17 on December 10, 2015, 03:18:55 PM
Aside from the qualitative values of PDH - can someone explain to me what's the value investing thesis on PDH on a quantitative basis ? 

Thanks
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: fareastwarriors on December 10, 2015, 03:23:06 PM
Is anyone holding PRDGF instead of PDH?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 10, 2015, 03:37:09 PM
Is anyone holding PRDGF instead of PDH?

http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/pdh-premier-diagnostic-health-services/msg247559/#msg247559

 ;)

Most stockholders from USA do.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 10, 2015, 03:38:30 PM
Aside from the qualitative values of PDH - can someone explain to me what's the value investing thesis on PDH on a quantitative basis ? 

Thanks

Let me say "not much right now".

This will certainly elicit a response. ;)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on December 10, 2015, 04:50:04 PM
No quantitative thesis for the moment. Actually, that's a qualitative stock based on the person who is on the very top of the business.

But we look forward for the moment that the quantitative basis will develop  ;)

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gary17 on December 10, 2015, 05:38:43 PM
so aside from the two directors being very nice and honest people , what are their long term investment performances that warrant the current valuation ?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: adesigar on December 10, 2015, 07:22:46 PM
Quote
“Somebody once said that in looking for people to hire , you look for three qualities: integrity, intelligence, and energy . And if you don’t have the first, the other two will kill you. You think about it; it’s true. If you hire somebody without [integrity], you really want them to be dumb and lazy.” –Warren Buffett

so aside from the two directors being very nice and honest people , what are their long term investment performances that warrant the current valuation ?

Add in that he started this board and you've got the other 2 qualities.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 10, 2015, 09:33:49 PM
so aside from the two directors being very nice and honest people , what are their long term investment performances that warrant the current valuation ?

I'll ask Sanjeev for forgiveness for the following, since this might sound like a bear case, but I'll invert. So here are the reasons not to buy PDH:

- Unproven money losing business
- Listed on crappy exchange
- Penny stock with huge number of shares outstanding (131M shares)
- Half of shares above issued in last year
- Part of business in China
- Medical business might not be big enough for current capitalization and may require additional cash investments (and dilution?) to grow.
- So so investments in new businesses through the year:
  - Russell Breweries is a company in quite competitive market
  - Sequant purchase - unproven business that may suffer in major cat years
  - Additional Sequant investment - paid higher share prices in still unproven business
  - Real estate investment in overheated Vancouver market

To find the reasons to invest, you might try to invert and decide where the reasons to not invest are weak or no longer apply.
Let's see if Sanjeev and his team knock some of these pins down in the upcoming annual report (or in next couple of years).  8)

Peace.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 15, 2015, 02:19:31 PM
Please see my comments below. 

so aside from the two directors being very nice and honest people , what are their long term investment performances that warrant the current valuation ?

I'll ask Sanjeev for forgiveness for the following, since this might sound like a bear case, but I'll invert. So here are the reasons not to buy PDH:

- Unproven money losing business  - True however I think the imaging business is not losing money anymore and the only issue is the reinsurance business however it has been a 4 banger to date
- Listed on crappy exchange - True but who cares
- Penny stock with huge number of shares outstanding (131M shares) - Yes, but who cares
- Half of shares above issued in last year - Yes, it had to be done so sanjeev can perform the turnaround.  I highly doubt this is indicative of the future.
- Part of business in China - Yes, china has a shortage of MRI's as per Sanjeev and has huge growth potential
- Medical business might not be big enough for current capitalization and may require additional cash investments (and dilution?) to grow. - This is my concern which is why i prefer Sanjeev to stay away from real estate in vancouver / Russell and use the cash towards growing the imaging business
- So so investments in new businesses through the year:
  - Russell Breweries is a company in quite competitive market - agreed, the business sucks
  - Sequant purchase - unproven business that may suffer in major cat years - No issue of major cat as this is a low risk reinsurance model.  Read-up on it however this has been a 4 banger.
  - Additional Sequant investment - paid higher share prices in still unproven business -  Yes, however the results over the last year have been superb
  - Real estate investment in overheated Vancouver market - agreed

To find the reasons to invest, you might try to invert and decide where the reasons to not invest are weak or no longer apply.
Let's see if Sanjeev and his team knock some of these pins down in the upcoming annual report (or in next couple of years).  8)

Peace.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on December 16, 2015, 06:54:12 AM
Please see my comments below. 

so aside from the two directors being very nice and honest people , what are their long term investment performances that warrant the current valuation ?

I'll ask Sanjeev for forgiveness for the following, since this might sound like a bear case, but I'll invert. So here are the reasons not to buy PDH:

- Unproven money losing business  - True however I think the imaging business is not losing money anymore and the only issue is the reinsurance business however it has been a 4 banger to date
- Listed on crappy exchange - True but who cares
- Penny stock with huge number of shares outstanding (131M shares) - Yes, but who cares
- Half of shares above issued in last year - Yes, it had to be done so sanjeev can perform the turnaround.  I highly doubt this is indicative of the future.
- Part of business in China - Yes, china has a shortage of MRI's as per Sanjeev and has huge growth potential
- Medical business might not be big enough for current capitalization and may require additional cash investments (and dilution?) to grow. - This is my concern which is why i prefer Sanjeev to stay away from real estate in vancouver / Russell and use the cash towards growing the imaging business
- So so investments in new businesses through the year:
  - Russell Breweries is a company in quite competitive market - agreed, the business sucks
  - Sequant purchase - unproven business that may suffer in major cat years - No issue of major cat as this is a low risk reinsurance model.  Read-up on it however this has been a 4 banger.
  - Additional Sequant investment - paid higher share prices in still unproven business -  Yes, however the results over the last year have been superb
  - Real estate investment in overheated Vancouver market - agreed

To find the reasons to invest, you might try to invert and decide where the reasons to not invest are weak or no longer apply.
Let's see if Sanjeev and his team knock some of these pins down in the upcoming annual report (or in next couple of years).  8)

Peace.



There is nothing wrong with asking why.

1) The imaging business has incredible potential.  I sent a pm to ourkid on this exact item a week or two ago.  Private imaging has great possibilities in Canada.  My Dr. wants me to stay on statins (Lipitor, Crestor) to reduce my cholesterol levels.  I tried the drug and within two weeks I was having painful muscle agony.  Now aside from enduring the effects of potentially dangerous drugs, there is one other option that could be done, but not in Ontario, unless you are a high risk patient (im not).  This is an imaging procedure known as a calcium scan.  For me to get it done, I would need to go to Buffalo and pay $300 Us - over 400 cdn plus associated time, and travel issues.  I would pay cash tomorrow to have it done in Toronto, to put the matter to rest, one way or the other.  The irony is that in the long term it would probably save the gov't money. 

So, I like the imaging business and would support PDH expanding here.  Since it is regulated in Canada there is a built in profit margin.

2) The issuance of shares was done to get the ball rolling as ourkid mentions.

3) I agree with ourkid that The craft brewery business is a crappy business with very low barriers to entry.  There are dozens operating in Ontario.

4) Sequant - time will tell.  It is not an insurer with its own capital on the line.  More of a brokerage business.

5) Real estate - I am agnostic on this.  Building relationships is not a bad thing, for future considerations. 

Concerning management abilities.  Sanjeev and Alnesh have run a fund for a few yrs. which I believe has performed well.  Well enough that some of our US board members have invested large sums.  They are also getting essentially free help from other Directors.  Sanjeev has alot of goodwill to work with.  I would certainly help him for free, and Gio has offered.  I would not have become a millionaire without the help of this message board and its predecessor.  At very least it would have taken longer and I would have been stumbling in the dark more often. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on December 16, 2015, 07:16:45 AM
  Since it is regulated in Canada there is a built in profit margin.


Preface this with admission that I'm totally ignorant on how such things work in Canada. That said, this sentence suggests to me that, by the stroke of a pen (a political pen which is controlled by someone who is not concerned with their investment in PDH but IS concerned with appearing to combat corporate greed to his/her constituency), that profit margin can be compromised. That's a concern. Is that concern valid?


-Crip
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on December 16, 2015, 07:36:11 AM
by the stroke of a pen (a political pen which is controlled by someone who is not concerned with their investment in PDH but IS concerned with appearing to combat corporate greed to his/her constituency), that profit margin can be compromised. That's a concern. Is that concern valid?

That is exactly the case when doing business in any place on Earth that is under the jurisdiction of a government.  Laws/regulations/tax rates can change at any time without warning.  Entire businesses can become illegal and/or unprofitable overnight.  This risk isn't unique to PDH.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on December 16, 2015, 09:09:23 AM
by the stroke of a pen (a political pen which is controlled by someone who is not concerned with their investment in PDH but IS concerned with appearing to combat corporate greed to his/her constituency), that profit margin can be compromised. That's a concern. Is that concern valid?

That is exactly the case when doing business in any place on Earth that is under the jurisdiction of a government.  Laws/regulations/tax rates can change at any time without warning.  Entire businesses can become illegal and/or unprofitable overnight.  This risk isn't unique to PDH.


All true.  Right now, Imaging clinics are regulated according to provincial law, private or otherwise. 
They get a fixed rate per procedure.  It has a built in profit margin, more or less.  A private clinic could charge somewhat more and operate with the same fixed costs.  From my perspective it is only a matter of time before citizens start to demand these services be privately available, especially aging bany boomers wating months for test.  Maybe I am wrong.  Do you know that I have to book a standard physical months in advance?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on December 16, 2015, 09:22:52 AM
by the stroke of a pen (a political pen which is controlled by someone who is not concerned with their investment in PDH but IS concerned with appearing to combat corporate greed to his/her constituency), that profit margin can be compromised. That's a concern. Is that concern valid?

That is exactly the case when doing business in any place on Earth that is under the jurisdiction of a government.  Laws/regulations/tax rates can change at any time without warning.  Entire businesses can become illegal and/or unprofitable overnight.  This risk isn't unique to PDH.


All true.  Right now, Imaging clinics are regulated according to provincial law, private or otherwise. 
They get a fixed rate per procedure.  It has a built in profit margin, more or less.  A private clinic could charge somewhat more and operate with the same fixed costs.  From my perspective it is only a matter of time before citizens start to demand these services be privately available, especially aging bany boomers wating months for test.  Maybe I am wrong.  Do you know that I have to book a standard physical months in advance?

We hear so much in the US about how wonderful the Canadian healthcare system is, yet it is 12:21pm right now and I could get a physical exam complete with blood tests and just about any other test I wanted, or the doctor thought I needed, this afternoon if I decided to.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wisdom on December 16, 2015, 09:46:36 AM
What about those who cannot afford to pay or do not have insurance?

Not trying to start anything but there is more than one perspective.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 16, 2015, 09:49:37 AM
Would you please open a topic in the general category to discuss this?  I prefer not to clutter the PDH thread with a back and forth discussion.  (We know how heated this can get)

What about those who cannot afford to pay or do not have insurance?

Not trying to start anything but there is more than one perspective.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 16, 2015, 11:39:41 AM
We hear so much in the US about how wonderful the Canadian healthcare system is, yet it is 12:21pm right now and I could get a physical exam complete with blood tests and just about any other test I wanted, or the doctor thought I needed, this afternoon if I decided to.

Lolz. I have to schedule a non-emergency physical month in advance. And it will be 15 minutes max with the doc (blood tests are the same day though). So let's not start bragging about US healthcare. Your NH doctor is sitting in the office twiddling his thumbs waiting for you to show up?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on December 16, 2015, 11:55:14 AM
We hear so much in the US about how wonderful the Canadian healthcare system is, yet it is 12:21pm right now and I could get a physical exam complete with blood tests and just about any other test I wanted, or the doctor thought I needed, this afternoon if I decided to.

Lolz. I have to schedule a non-emergency physical month in advance. And it will be 15 minutes max with the doc (blood tests are the same day though). So let's not start bragging about US healthcare. Your NH doctor is sitting in the office twiddling his thumbs waiting for you to show up?

My Doctor's pretty busy.  I didn't say with "my Doctor" I said with "a Doctor".  New Hampshire has some excellent walk in clinics without long wait times.  I go there if I just want a blood test to check up on something myself, or for minor injuries or infections, etc.  I see my Doctor once per year and I make the appointment ahead of time.  I don't think it would take a month to see him though if I wanted to.  My wife needed an MRI a few years back and she had to wait 3 days, and that was because it wasn't an emergency and we had a specific location in mind we wanted to have it done.  I'm not bragging too much about US healthcare.  Government regulations have been busy destroying it little by little while increasing the costs every year for the past 6 or 7 decades now.  The largest mistake we ever made was tying healthcare to employment and letting the government regulate what it had to cover.  Try tying car insurance to employment and making it cover everything from oil changes to putting gas in the car and you will see rates sky rocket as well.  Car insurance is a good example.  I moved from a heavily regulated state (Massachusetts) to a lightly regulated state (NH), I kept the same cars and the same insurance company with the same levels of coverage.  My costs dropped by half, almost $1000 per year.  And Massachusetts doesn't regulate auto insurance anywhere near the level the Fed-gov regulates healthcare.



Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Uccmal on December 16, 2015, 12:06:19 PM
Would you please open a topic in the general category to discuss this?  I prefer not to clutter the PDH thread with a back and forth discussion.  (We know how heated this can get)

What about those who cannot afford to pay or do not have insurance?

Not trying to start anything but there is more than one perspective.

I agree.  Its my bad.  Lets stay on topic.  Its the one topic our moderator cant really interfere with since its about his company. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wachtwoord on December 16, 2015, 01:43:59 PM
IB has PRDGF but when I try to make an order ot says no trading permissions. What trading permissions do I need? I have OTC.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on December 16, 2015, 03:38:53 PM
IB has PRDGF but when I try to make an order ot says no trading permissions. What trading permissions do I need? I have OTC.

When I transferred from Scottrade, they told me that I would have to trade it through IB's trading desk, but then even the transfer failed and the shares went back to Scottrade so I'm assuming they don't support trading in this name for some reason.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wachtwoord on December 17, 2015, 01:11:39 AM
IB has PRDGF but when I try to make an order ot says no trading permissions. What trading permissions do I need? I have OTC.

When I transferred from Scottrade, they told me that I would have to trade it through IB's trading desk, but then even the transfer failed and the shares went back to Scottrade so I'm assuming they don't support trading in this name for some reason.

It's just weird that I can find it in the trader desk. Usually if they don't support it you can't find it (like with the OTC for Clarke CLKFF).

I'll drop them a support ticket when I have time.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rmitz on December 17, 2015, 10:04:22 AM
by the stroke of a pen (a political pen which is controlled by someone who is not concerned with their investment in PDH but IS concerned with appearing to combat corporate greed to his/her constituency), that profit margin can be compromised. That's a concern. Is that concern valid?

That is exactly the case when doing business in any place on Earth that is under the jurisdiction of a government.  Laws/regulations/tax rates can change at any time without warning.  Entire businesses can become illegal and/or unprofitable overnight.  This risk isn't unique to PDH.


All true.  Right now, Imaging clinics are regulated according to provincial law, private or otherwise. 
They get a fixed rate per procedure.  It has a built in profit margin, more or less.  A private clinic could charge somewhat more and operate with the same fixed costs.  From my perspective it is only a matter of time before citizens start to demand these services be privately available, especially aging bany boomers wating months for test.  Maybe I am wrong.  Do you know that I have to book a standard physical months in advance?

We hear so much in the US about how wonderful the Canadian healthcare system is, yet it is 12:21pm right now and I could get a physical exam complete with blood tests and just about any other test I wanted, or the doctor thought I needed, this afternoon if I decided to.


I live in Pittsburgh, with a ton of hospitals.  No *way* could I get that done.  I have never seen convenience like that outside of small towns, and then it wouldn’t cover the sophisticated stuff.  Normally I have to wait weeks to see a specialist (depends what kind).
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: oddballstocks on December 17, 2015, 10:50:48 AM
by the stroke of a pen (a political pen which is controlled by someone who is not concerned with their investment in PDH but IS concerned with appearing to combat corporate greed to his/her constituency), that profit margin can be compromised. That's a concern. Is that concern valid?

That is exactly the case when doing business in any place on Earth that is under the jurisdiction of a government.  Laws/regulations/tax rates can change at any time without warning.  Entire businesses can become illegal and/or unprofitable overnight.  This risk isn't unique to PDH.


All true.  Right now, Imaging clinics are regulated according to provincial law, private or otherwise. 
They get a fixed rate per procedure.  It has a built in profit margin, more or less.  A private clinic could charge somewhat more and operate with the same fixed costs.  From my perspective it is only a matter of time before citizens start to demand these services be privately available, especially aging bany boomers wating months for test.  Maybe I am wrong.  Do you know that I have to book a standard physical months in advance?

We hear so much in the US about how wonderful the Canadian healthcare system is, yet it is 12:21pm right now and I could get a physical exam complete with blood tests and just about any other test I wanted, or the doctor thought I needed, this afternoon if I decided to.


I live in Pittsburgh, with a ton of hospitals.  No *way* could I get that done.  I have never seen convenience like that outside of small towns, and then it wouldn’t cover the sophisticated stuff.  Normally I have to wait weeks to see a specialist (depends what kind).

Where you at in Pittsburgh? I'm in the North Hills.  Anyways, I agree, a physical is the lowest priority rung, scheduling is months out.  If I wanted a physical at one of those quick care clinics I could get it done right now.  There'd probably be a 20-30m wait, but that's it.  Even blood tests are slow.  I had a blood test at UPMC Passavant a few years ago where I waited with 8-10 others for 45m.  I didn't understand why it took so long to give simple blood tests.  It seemed like the lab was being run by the post office that day.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wachtwoord on December 28, 2015, 07:28:31 AM
IB has PRDGF but when I try to make an order ot says no trading permissions. What trading permissions do I need? I have OTC.

When I transferred from Scottrade, they told me that I would have to trade it through IB's trading desk, but then even the transfer failed and the shares went back to Scottrade so I'm assuming they don't support trading in this name for some reason.

It's just weird that I can find it in the trader desk. Usually if they don't support it you can't find it (like with the OTC for Clarke CLKFF).

I'll drop them a support ticket when I have time.

I asked IB and they don't support "gray market shares".

I didn't reply to the ticket further yet (my token generator is at home) but I did some Googling and found this:

"Note that while IB does not offer access to the Canadian Securities Exchange (CNSX), shares which are listed on that designated exchange may be transferred into and held in a RSP or TFSA account held with IB, but must be transferred elsewhere to close." (https://ibkb.interactivebrokers.com/article/2374)

So there might be a way but it gets very complicated.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on January 06, 2016, 05:05:38 AM
*hint hint* - we are waiting. 

Sanjeev, when will you be releasing year end results?  Based on my understanding Sept 30th was the end of your fiscal year.

I believe January 28th is the latest they can file - check out the link here: https://www.osc.gov.on.ca/en/Companies_filing-calendar_index.htm

Correct.  We plan on filing before that, but that is the official deadline.  Thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on January 06, 2016, 12:01:52 PM
*hint hint* - we are waiting. 

Sanjeev, when will you be releasing year end results?  Based on my understanding Sept 30th was the end of your fiscal year.

I believe January 28th is the latest they can file - check out the link here: https://www.osc.gov.on.ca/en/Companies_filing-calendar_index.htm

Correct.  We plan on filing before that, but that is the official deadline.  Thanks!

Don't get your hopes up for a stellar report! 

I don't want our shareholders to be excited or depressed either way, but to understand that progress is being made.  Until we make those one or two acquisitions that bring in $1-1.5M in positive free cash flow, or Sequant is out of start-up mode, you will see losses.  We had three deals go sideways this year, but we won't pay up or compromise.  We hope to close on a couple in 2016 that will turn the tide.

The report will be out closer to the end of the month, so a couple of weeks away still, but I will let you know as much as I can in the annual letter about what is happening.  Cheers and thanks for your support!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on January 20, 2016, 04:36:54 PM
(https://static.fjcdn.com/comments/Mfw+still+waiting+for+the+gif+to+load+_cf14b8b06d0be4651e41d88734d3920b.jpg)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: InelegantInvestor on January 28, 2016, 07:00:59 AM
Results and Letter are out: http://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030626
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on January 28, 2016, 08:03:29 AM
Is this the first letter from Sanjeev, or was there an older one?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: intothebreach on January 28, 2016, 08:46:54 AM
There was one last year. Should be on Sedar.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on February 03, 2016, 11:51:17 AM
I red your letter Sanjeev. Straight-foward, long term intrinsic value oriented, etc. You are doing good efforts to turn things around and create long term shareholder value.

Congragulations Sanjeev. Keep up the good work. It's a pleasure to be a shareholder of the company you manage. I hope that the stock price will keep at these levels...me and some of my family members will keep buying some.

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on February 17, 2016, 08:27:51 PM
http://www.cnsx.ca/cmsAssets/docs/Filings/2016/2016_02_17_13_58_26_pdh_PDH_-_News_Release_announcing_Reinsurance_Investment_[Feb_2016].pdf

Adding more to the Sequant investment during another round of funding.  Looking to start generating fee income in 2016 to help reduce future needs, which is nice.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wisdom on February 17, 2016, 08:47:49 PM
http://www.marketwired.com/press-release/premier-diversified-holdings-inc-announces-share-purchase-cnsx-pdh-2097689.htm

This link might work.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Libs on February 18, 2016, 09:15:21 AM
Has the date / place of the annual meeting been set?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on February 18, 2016, 09:33:50 AM
There was one last year. Should be on Sedar.

Does anyone have it?  Hunting through all the "other"s on Sedar is pretty awful.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on February 18, 2016, 04:06:07 PM
There was one last year. Should be on Sedar.

Does anyone have it?  Hunting through all the "other"s on Sedar is pretty awful.

Here you go
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on February 18, 2016, 06:36:08 PM
There was one last year. Should be on Sedar.

Does anyone have it?  Hunting through all the "other"s on Sedar is pretty awful.

Here you go

Thanks, I didn't realize it was just the MD&A section.  This time, he had a separate letter.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on February 18, 2016, 11:39:18 PM
There was one last year. Should be on Sedar.

Does anyone have it?  Hunting through all the "other"s on Sedar is pretty awful.

Here you go

Thanks, I didn't realize it was just the MD&A section.  This time, he had a separate letter.

It was the first official letter as "Premier Diversified Holdings Inc.", whereas the previous letter was still under the "Premier Diagnostics Health Services" banner.  I felt shareholders deserved a more extensive letter beginning this year with the company headed in a new direction.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: karthikpm on February 19, 2016, 06:36:48 AM
Parsad

I suspect we will get the paper version in the mail ?

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 10, 2016, 11:16:22 AM
Can someone help me understand what premier wrote in the progress report? Is premier planning a private placement of convertible preferred shares? We are in april and I have not seen an announcement yet. It seems they are also planning another clinic as well which is great. let's hope there is no further dilution as my preference is Sanjeev sell non-core investments to fund the expansion e.g. real estate in vancouver and russell.

The Issuer's management teams in China and Canada concluded preparations for a private placement financing of convertible preferred shares of one of the Issuer's Chinese subsidiaries, Premier Investment (Hong Kong) Ltd. ("PIHK"), with the goal of launching the offering in March 2016 following the Chinese New Year celebrations. PIHK is a private Hong Kong company wholly owned by Premier. PIHK is currently inactive and holds a 100% interest in Premier Investment Shanghai, a wholly-owned foreign enterprise registered in the Shanghai Free Trade Zone. The Issuer's management team in China also continued to carry out activities in furtherance of proposed expansion plans to establish new Premier Diagnostic Centres in China, which the Issuer anticipates will provide PET-CT and/or MRI scans
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 10, 2016, 04:54:33 PM
Can someone help me understand what premier wrote in the progress report? Is premier planning a private placement of convertible preferred shares? We are in april and I have not seen an announcement yet. It seems they are also planning another clinic as well which is great. let's hope there is no further dilution as my preference is Sanjeev sell non-core investments to fund the expansion e.g. real estate in vancouver and russell.

The Issuer's management teams in China and Canada concluded preparations for a private placement financing of convertible preferred shares of one of the Issuer's Chinese subsidiaries, Premier Investment (Hong Kong) Ltd. ("PIHK"), with the goal of launching the offering in March 2016 following the Chinese New Year celebrations. PIHK is a private Hong Kong company wholly owned by Premier. PIHK is currently inactive and holds a 100% interest in Premier Investment Shanghai, a wholly-owned foreign enterprise registered in the Shanghai Free Trade Zone. The Issuer's management team in China also continued to carry out activities in furtherance of proposed expansion plans to establish new Premier Diagnostic Centres in China, which the Issuer anticipates will provide PET-CT and/or MRI scans

Just a guess but they are planning to raise funds in China for investments specific to that country.  Think about it like in 2014 they raised funds for investments in Canada/US and the China arm or the company didn't get any of those funds.  Now they are raising funds in China to start the investment operation over there.  In my view, it would not be wise to move the funds back and forth from here to China as I am sure there are tax/other implications doing so.  Also, with the size of the company it's just a step in growing. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: oddballstocks on April 18, 2016, 07:02:19 AM
Can someone help me understand what premier wrote in the progress report? Is premier planning a private placement of convertible preferred shares? We are in april and I have not seen an announcement yet. It seems they are also planning another clinic as well which is great. let's hope there is no further dilution as my preference is Sanjeev sell non-core investments to fund the expansion e.g. real estate in vancouver and russell.

The Issuer's management teams in China and Canada concluded preparations for a private placement financing of convertible preferred shares of one of the Issuer's Chinese subsidiaries, Premier Investment (Hong Kong) Ltd. ("PIHK"), with the goal of launching the offering in March 2016 following the Chinese New Year celebrations. PIHK is a private Hong Kong company wholly owned by Premier. PIHK is currently inactive and holds a 100% interest in Premier Investment Shanghai, a wholly-owned foreign enterprise registered in the Shanghai Free Trade Zone. The Issuer's management team in China also continued to carry out activities in furtherance of proposed expansion plans to establish new Premier Diagnostic Centres in China, which the Issuer anticipates will provide PET-CT and/or MRI scans

Just a guess but they are planning to raise funds in China for investments specific to that country.  Think about it like in 2014 they raised funds for investments in Canada/US and the China arm or the company didn't get any of those funds.  Now they are raising funds in China to start the investment operation over there.  In my view, it would not be wise to move the funds back and forth from here to China as I am sure there are tax/other implications doing so.  Also, with the size of the company it's just a step in growing.

They mentioned this during the dinner.  It's related to the ability/in-ability of getting money in and out of the country.  It's really hard to move money into China, so they're raising funds there directly.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 18, 2016, 09:30:36 AM
I asked the question before the dinner so thanks Sanjeev for clarifying.  Sanjeev highlighted that the convertibles will be priced higher then the current stock price so it's accretive to shareholders which is great. 

Can someone help me understand what premier wrote in the progress report? Is premier planning a private placement of convertible preferred shares? We are in april and I have not seen an announcement yet. It seems they are also planning another clinic as well which is great. let's hope there is no further dilution as my preference is Sanjeev sell non-core investments to fund the expansion e.g. real estate in vancouver and russell.

The Issuer's management teams in China and Canada concluded preparations for a private placement financing of convertible preferred shares of one of the Issuer's Chinese subsidiaries, Premier Investment (Hong Kong) Ltd. ("PIHK"), with the goal of launching the offering in March 2016 following the Chinese New Year celebrations. PIHK is a private Hong Kong company wholly owned by Premier. PIHK is currently inactive and holds a 100% interest in Premier Investment Shanghai, a wholly-owned foreign enterprise registered in the Shanghai Free Trade Zone. The Issuer's management team in China also continued to carry out activities in furtherance of proposed expansion plans to establish new Premier Diagnostic Centres in China, which the Issuer anticipates will provide PET-CT and/or MRI scans

Just a guess but they are planning to raise funds in China for investments specific to that country.  Think about it like in 2014 they raised funds for investments in Canada/US and the China arm or the company didn't get any of those funds.  Now they are raising funds in China to start the investment operation over there.  In my view, it would not be wise to move the funds back and forth from here to China as I am sure there are tax/other implications doing so.  Also, with the size of the company it's just a step in growing.

They mentioned this during the dinner.  It's related to the ability/in-ability of getting money in and out of the country.  It's really hard to move money into China, so they're raising funds there directly.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on April 18, 2016, 11:58:57 AM
Any notes from dinner?  All I have received is proxy info and am starting to feel like a mushroom.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 19, 2016, 12:17:05 PM
Any notes from dinner?  All I have received is proxy info and am starting to feel like a mushroom.

People who attended can fill you in...I think most came away with more confidence.  The presentation from the AGM will be available shortly after the meeting on the website.

Also, just a reminder to get your online votes in before the cut-off day...April 22nd.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 19, 2016, 07:49:06 PM
Any notes from dinner?  All I have received is proxy info and am starting to feel like a mushroom.

I'm also interested in any notes or insight from the dinner regarding PDH.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: stahleyp on April 20, 2016, 05:59:30 AM
Sanj,

does it save the company money if we elect to have electronic instead of paper delivery of documents?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 20, 2016, 12:12:43 PM
Sanj,

does it save the company money if we elect to have electronic instead of paper delivery of documents?

Yup, it does.  Computershare charges a pretty penny to print and mail reports out...on a per page basis for the document.  Cheaper for them (and us) to electronically send the information.

Thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 20, 2016, 01:43:19 PM
Sanj,

does it save the company money if we elect to have electronic instead of paper delivery of documents?

Yup, it does.  Computershare charges a pretty penny to print and mail reports out...on a per page basis for the document.  Cheaper for them (and us) to electronically send the information.

Thanks!

When was this sent out?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on April 20, 2016, 01:51:49 PM
Did anyone take notes and would you post them here? Please.  Pretty please.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on April 20, 2016, 02:45:56 PM
Agree. If someone took notes, it would be much appreciated if you could post them here.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 20, 2016, 04:47:22 PM
Hi Sanjeev, 

I am a shareholder and was going through the recent MD&A filing in SEDAR. Under Bentley homes section PDH has a real estate partnership that says Pdh owns 7.5 units for 375000. What does a unit refer to? What are the total number of units in the partnership? Any color on that is much appreciated


Thank you for taking the time to answer all our questions.

This will be in the slideshow at next week's AGM.  We'll post the slideshow to the website shortly after. 

Sanj,

does it save the company money if we elect to have electronic instead of paper delivery of documents?

Yup, it does.  Computershare charges a pretty penny to print and mail reports out...on a per page basis for the document.  Cheaper for them (and us) to electronically send the information.

Thanks!

When was this sent out?

You should have received it in the last 2-3 weeks...those with the shares directly held in their names, it would have been sent to your address on file.  If not, please contact your broker immediately, because it would have been sent to them.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on April 25, 2016, 02:18:26 PM
Anyone heading to the AGM tomorrow?   I am thinking of driving up from Seattle.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 25, 2016, 06:43:51 PM
Anyone heading to the AGM tomorrow?   I am thinking of driving up from Seattle.

Please come if you can.  We'll have lunch for anyone attending as well.  Look forward to seeing you and bring your questions!

Sanjeev
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 25, 2016, 08:26:40 PM
I have a couple of questions if someone wants to ask them for me tomorrow.

Who is in charges/responsible of making investments in other companies in China?  How would those investments be managed with management in Canada?  Basically is there a check and balance system in place to avoid fraud?

If a recession occurred in the next 12 months how would that affect the core business?  The way the balance sheet is currently would we be able to take advantage of distressed assets?

What is the 3 biggest things the CEO has learned since taking over the company? 

What keeps the CEO up at night regarding the company?

Have all the issues been taken care of with Premier before current management took over?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 26, 2016, 03:02:00 PM
I have a couple of questions if someone wants to ask them for me tomorrow.

Who is in charges/responsible of making investments in other companies in China?  How would those investments be managed with management in Canada?  Basically is there a check and balance system in place to avoid fraud?

If a recession occurred in the next 12 months how would that affect the core business?  The way the balance sheet is currently would we be able to take advantage of distressed assets?

What is the 3 biggest things the CEO has learned since taking over the company? 

What keeps the CEO up at night regarding the company?

Have all the issues been taken care of with Premier before current management took over?

2016 AGM powerpoint is in "Investor Relations" tab at www.pdh-inc.com.  I apologize for the logos coming up in portrait mode for some reason...doesn't do that in the actual powerpoint.

I'll try and answer your questions...see below:

Who is in charges/responsible of making investments in other companies in China?  How would those investments be managed with management in Canada?  Basically is there a check and balance system in place to avoid fraud?

Decision is ultimately made by CEO and Board.  Ideas may be brought to us by Chinese GM, and executed by him, but ultimate decision is made here.  Controls are in place to maintain checks and balances.

If a recession occurred in the next 12 months how would that affect the core business?  The way the balance sheet is currently would we be able to take advantage of distressed assets?

Company itself is in strong financial position, but if we made a significant acquisition, we would have to raise the cash for it...would not want to jeopardize current financial strength.  Smaller acquisitions could be done internally.

What is the 3 biggest things the CEO has learned since taking over the company? 

People and how they buy into the company culture make the difference.  Passion overcomes obstacles...you cannot teach passion.  You also have to match those passionate employees with skilled employees to complement them.  The passion drives the business forward and the skill gets the job done.  It takes both!

What keeps the CEO up at night regarding the company?

Nothing!  Everything!  I sleep perfectly well at night, but I'm always watching our position, weaknesses and are we progressing.  Have to constantly get better.  Never want one wrong decision to decide company's fate!

Have all the issues been taken care of with Premier before current management took over?

No, we had to fix them!  Pretty much all are taken care of in the last 18 months except some formalities and non-pressing issues.  Those will get completed as well.  Premier is focused on growth and acquisitions now...not fixing problems.

Thanks very much!

Sanjeev   

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 26, 2016, 04:42:40 PM
I have a couple of questions if someone wants to ask them for me tomorrow.

Who is in charges/responsible of making investments in other companies in China?  How would those investments be managed with management in Canada?  Basically is there a check and balance system in place to avoid fraud?

If a recession occurred in the next 12 months how would that affect the core business?  The way the balance sheet is currently would we be able to take advantage of distressed assets?

What is the 3 biggest things the CEO has learned since taking over the company? 

What keeps the CEO up at night regarding the company?

Have all the issues been taken care of with Premier before current management took over?

2016 AGM powerpoint is in "Investor Relations" tab at www.pdh-inc.com.  I apologize for the logos coming up in portrait mode for some reason...doesn't do that in the actual powerpoint.

I'll try and answer your questions...see below:

Who is in charges/responsible of making investments in other companies in China?  How would those investments be managed with management in Canada?  Basically is there a check and balance system in place to avoid fraud?

Decision is ultimately made by CEO and Board.  Ideas may be brought to us by Chinese GM, and executed by him, but ultimate decision is made here.  Controls are in place to maintain checks and balances.

If a recession occurred in the next 12 months how would that affect the core business?  The way the balance sheet is currently would we be able to take advantage of distressed assets?

Company itself is in strong financial position, but if we made a significant acquisition, we would have to raise the cash for it...would not want to jeopardize current financial strength.  Smaller acquisitions could be done internally.

What is the 3 biggest things the CEO has learned since taking over the company? 

People and how they buy into the company culture make the difference.  Passion overcomes obstacles...you cannot teach passion.  You also have to match those passionate employees with skilled employees to complement them.  The passion drives the business forward and the skill gets the job done.  It takes both!

What keeps the CEO up at night regarding the company?

Nothing!  Everything!  I sleep perfectly well at night, but I'm always watching our position, weaknesses and are we progressing.  Have to constantly get better.  Never want one wrong decision to decide company's fate!

Have all the issues been taken care of with Premier before current management took over?

No, we had to fix them!  Pretty much all are taken care of in the last 18 months except some formalities and non-pressing issues.  Those will get completed as well.  Premier is focused on growth and acquisitions now...not fixing problems.

Thanks very much!

Sanjeev   

Thank you so much for taking the time to answer. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 27, 2016, 09:28:56 AM
Sanjeev,

It seems to me that Chinese GM is very well paid (both in salary and the equity 1.5% of the company). Can you elaborate on the rationale and his qualification?

thanks.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 27, 2016, 11:22:50 AM
Sanjeev,

It seems to me that Chinese GM is very well paid (both in salary and the equity 1.5% of the company). Can you elaborate on the rationale and his qualification?

thanks.

He ran Siemens entire Financial Division in China...essentially built most of it over the last 10 years...also an Ivey MBA graduate and currently completing his PhD at Tsinghua University...China's Harvard or MIT.  He's getting paid on par with Guy Cloutier at Sequant Re.

They can't complain about their compensation because they get paid a lot more than their boss!  But probably a 1/3rd of what they would get working elsewhere.  Cheers! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 27, 2016, 12:04:50 PM
Sanjeev,

It seems to me that Chinese GM is very well paid (both in salary and the equity 1.5% of the company). Can you elaborate on the rationale and his qualification?

thanks.

He ran Siemens entire Financial Division in China...essentially built most of it over the last 10 years...also an Ivey MBA graduate and currently completing his PhD at Tsinghua University...China's Harvard or MIT.  He's getting paid on par with Guy Cloutier at Sequant Re.

They can't complain about their compensation because they get paid a lot more than their boss!  But probably a 1/3rd of what they would get working elsewhere.  Cheers!

Thanks for the coloring.

On an unrelated note, maybe folks didn't like the AGM, stock is down 20% :)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on April 27, 2016, 12:36:18 PM


Thanks for the coloring.

On an unrelated note, maybe folks didn't like the AGM, stock is down 20% :)
[/quote]

Yea, maybe someone did not like the free lunch..lol
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 27, 2016, 01:11:03 PM


Thanks for the coloring.

On an unrelated note, maybe folks didn't like the AGM, stock is down 20% :)

Yea, maybe someone did not like the free lunch..lol
[/quote]

For those who went to the AGM, can you post your notes? thanks.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 27, 2016, 01:53:46 PM
On an unrelated note, maybe folks didn't like the AGM, stock is down 20% :)

It was only one seller today.  Needless to say whatever the reason, it will be mustard sandwiches tonight b/c I am broke after all that. Still ended the day up a penny.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: MarioP on April 27, 2016, 03:14:30 PM
 ;) I was very please to buy those shares. I'm almost done with my patient buying. In a week or two the stock can begin it's road to 1$!!!

I would also be please to see some notes about the meeting.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on April 27, 2016, 06:24:38 PM
Very interesting, high volume trading day today.  I watched it move all over the place.  I was happy with my initial position, but couldn't pass picking up what I could at $.1089 today.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on April 27, 2016, 10:12:22 PM
Here are my meeting notes.  I might have been the only outside investor from this board?  Not sure.

~14 people in attendance.  Mostly employees & partners.  Maybe 2-4 were external shareholders.
 
Sanjeev was great about answering any questions... problem was there were only 2 of us that asked any. 
 
General
- They are cash flow positive with both clinics.  Feeding Sequant is the main reason they are burning cash.  They are pretty much done fixing things.  Now they are trying to grow.
 
Burnaby Clinic
- Burnaby is only ~30% utilized.  They don't get any referrals from the gov't.  They want to change that but obviously it is hard.  The local gov't has a big need to provide services and not enough money.  Hopefully they can come up with a win/win.
- A huge cost for them is shipping the isotope across Canada.  They are looking for local source to reduce this cost.
- They feel like they have a ton of potential in imaging, needs are increasing, and not a huge risk of technical obsolescence.   Seems like the team is solid.
- AIM has been super helpful with their technology to date.  They are looking to seek out additional synergies.
- Denis leaving.  Will be retained as consultant.  (round of applause)
 
China Clinic
- I didn't know that the CFO is married to the Hong Kong GM.  From Sanjeev - "CFO was in place when I arrived…Alnesh will come in as CFO at some point in time as things get more complex and Grace will move to focusing on our Asian operations with her husband…this is already known internally and at the board level and we’ve discussed it generally during presentations, but we didn’t feel a CFO change was needed immediately.  Good experience for Grace and she had bought into all of the company changes."
- They are trying to raise money in Hong Kong.  Convertible preferred in place but they haven't had much luck selling it yet.   Conversion price is USD and higher then current price so not many (any?) takers yet.
- China money will stay in China.  They have money building up from clinic.  They are exploring new business ideas and potential investments but nothing firm.
 
Sequant
- Guy Cloutier seems super impressive. (he wasn't there) He has done a ton in his career  (created American Express purchase protection product, etc..).   Sequant is his last hurrah.  Build it up 5-7 years then sell it  (or somehow have PDH take it over?)
- The original meeting with Guy was serendipitous and they made a deal in a hurry. 
- They get 1.5% fee on business plus 15-25 basis points if they exceed their hurdle.    From Sanjeev - "Goal is $500M+ in gross premiums 5-7 years out…mentioned in previous presentations."
- Tons of meetings have taken place for new business.  They are surprised it hasn't just taken off.. but it will ;-)
- It sounds like PDH will continue to put money into Sequant.  Probably for a year at least.  They are the only ones contributing new funds and thus ownership is increasing.  The new Plenum deal should hopefully bring in some money.

Other investments
- Sanjeev has only bought ~500k worth of stocks on the open market.  They are up 18-40%.   He is being conservative with cash.
 
Overall I thought it was worth the time to attend.  Maybe it's just me but I could feel the concern with the changing of the guard so to speak.  The old focus just on diagnostic centers vs the new broader investing focus.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: fareastwarriors on April 27, 2016, 11:09:55 PM
Thank you for the notes redhot!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on April 28, 2016, 08:53:46 AM
yes, thanks for the notes!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wachtwoord on April 28, 2016, 09:13:06 AM
This is still not purchasable with IB right? Still no plans for listing on a more accessible exchange?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: fareastwarriors on April 28, 2016, 09:17:03 AM
Here are my meeting notes.  I might have been the only outside investor from this board?  Not sure.

...
 
Overall I thought it was worth the time to attend.  Maybe it's just me but I could feel the concern with the changing of the guard so to speak.  The old focus just on diagnostic centers vs the new broader investing focus.


Who were concerned? The employees? What was the mood/tone like?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on April 28, 2016, 09:56:34 AM
Mood / tone was positive.  Don't read into my comment too much.  I don't really have anything concrete to point to.  It was just something I found myself thinking about at the meeting. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 28, 2016, 11:05:06 AM
Mood / tone was positive.  Don't read into my comment too much.  I don't really have anything concrete to point to.  It was just something I found myself thinking about at the meeting.

Thanks for the notes. Do you feel that PDH is trying to do too much? We have the clinic, re-insurance, housing dev investment, brewery, stock investment, China/HK sub, etc, that's a lot of stuff -- wondering if it's focused enough
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on April 28, 2016, 12:33:58 PM
It is my concern as well. While our managers are super ethical and hard working I am a bit concerned about their load. It is showing up in the  time lag in the MPIC Fund communications these days.

Mood / tone was positive.  Don't read into my comment too much.  I don't really have anything concrete to point to.  It was just something I found myself thinking about at the meeting.

Thanks for the notes. Do you feel that PDH is trying to do too much? We have the clinic, re-insurance, housing dev investment, brewery, stock investment, China/HK sub, etc, that's a lot of stuff -- wondering if it's focused enough

Partly our fault because we wanted to reduce the amount of noise partners receive.  Partly the delay in Dhandho's unit value report.  Partly our auditors fault in how slow the process has been this year. 

End result, we had a somewhat sloppy year in reporting to our partners and that is completely our responsibility!  It will go back to normal this year.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on April 29, 2016, 10:23:54 AM
FYI,
I have had no problem buying it through Schwab.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 30, 2016, 11:30:36 AM
Mood / tone was positive.  Don't read into my comment too much.  I don't really have anything concrete to point to.  It was just something I found myself thinking about at the meeting.

Thanks for the notes. Do you feel that PDH is trying to do too much? We have the clinic, re-insurance, housing dev investment, brewery, stock investment, China/HK sub, etc, that's a lot of stuff -- wondering if it's focused enough

Of the businesses you mention, all are decentralized and run independently other than "stock investment", which I handle.

Clinic - Geoff Waters & Dr. Simon Sutcliffe
Re-Insurance - Guy Cloutier, Vic Baillergeron & Lola Myshketa
Housing Development - Kingswood Asset Management
Brewery - Ben Yu
China - Yang Gang

I need more to do, not less!  Do you know how much fun this is?!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ERICOPOLY on April 30, 2016, 12:02:18 PM
We all know Sanjeev is in training to do the jobs of the MRI techs.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 03, 2016, 02:37:30 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Libs on May 03, 2016, 02:54:27 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on May 03, 2016, 03:13:18 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

That's still a very sizable dialution -- from 100M shares to 125M shares. Is there going to be another one coming up for China offering? If so, and it's the same size, we are looking at around 50% dialution :(
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 03, 2016, 03:18:02 PM
I know...  That was my concern I highlighted earlier in the thread, he is taking on too many activities at the same time which will lead to dilution.  The china convertible offering should be accretive since it will convert as significantly higher prices then what the stock is trading at. The million dollar question is, has Sanjeev sold any?

It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

That's still a very sizable dialution -- from 100M shares to 125M shares. Is there going to be another one coming up for China offering? If so, and it's the same size, we are looking at around 50% dialution :(
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: premfan on May 03, 2016, 03:36:30 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 03, 2016, 04:08:19 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-( 

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: premfan on May 03, 2016, 04:23:41 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

Welcome to the world of angel investing  :)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on May 03, 2016, 04:27:48 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

Welcome to the world of angel investing  :)

Interesting way to look at it. Early investors at LUK seemed to do ok over time...
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on May 03, 2016, 04:30:03 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

Welcome to the world of angel investing  :)

Interesting way to look at it. Early investors at LUK seemed to do ok over time...

Following other comments from Parsad before, it seems he is using market price for the stock. If we get much more value than we pay for are we really that diluted?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: premfan on May 03, 2016, 04:31:40 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

Welcome to the world of angel investing  :)

Interesting way to look at it. Early investors at LUK seemed to do ok over time...

You're right.  That said, fact check me but I believe LUK didn't trade for BV until 7 or 8 years into operations.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: premfan on May 03, 2016, 04:35:23 PM
Fact checked myself 1978-1991 luk traded under BV.  Current moment its the singleton playbook.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 03, 2016, 04:58:16 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

Welcome to the world of angel investing  :)

Interesting way to look at it. Early investors at LUK seemed to do ok over time...

Following other comments from Parsad before, it seems he is using market price for the stock. If we get much more value than we pay for are we really that diluted?

The question is, are we getting much more?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on May 03, 2016, 05:03:48 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

Welcome to the world of angel investing  :)

Interesting way to look at it. Early investors at LUK seemed to do ok over time...

Following other comments from Parsad before, it seems he is using market price for the stock. If we get much more value than we pay for are we really that diluted?

The question is, are we getting much more?

If not, why are we invested in Sanjeev's success?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on May 03, 2016, 05:13:22 PM
I think a couple of y'all are blowing this way out of proportion.  They do not have enough cash to make a big acquisition without draining the buffer.  As stated before until they get to 1-1.5 million in free cash-flow or SR doesn't need any more investment then they are going to run negative.  I highly doubt that the CEO is trying to add a restaurant chain just so he can have a place to eat for free. 

If you invested due to the CEO's skill then give him room to work instead of bitching about every move that is made. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on May 03, 2016, 07:38:42 PM
Remember: price is what you pay, value is what you get.

It apply too to share issuance (and what they do with the proceeds) or stock buybacks.

Too early to know if what he plan make sense financialy. In this early PDH existence, you have to trust the jewelrer. This is what I do.

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on May 03, 2016, 07:41:37 PM
I know...  That was my concern I highlighted earlier in the thread, he is taking on too many activities at the same time which will lead to dilution.  The china convertible offering should be accretive since it will convert as significantly higher prices then what the stock is trading at. The million dollar question is, has Sanjeev sold any?

It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

That's still a very sizable dialution -- from 100M shares to 125M shares. Is there going to be another one coming up for China offering? If so, and it's the same size, we are looking at around 50% dialution :(

The day I sell any shares, you should liquidate. 

Have not and will not sell a single share.  I have to file any purchases or sales within 2 business days...watch my filings.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on May 03, 2016, 07:45:09 PM
It looks like Sanjeev found an acquisition target however I am disappointed about the dilution.

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 25,000,000 Shares at $0.16 per Share for aggregate gross proceeds of
up to $4,000,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about May 16, 2016. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund potential acquisitions as well as for general
working capital. President and CEO Sanjeev Parsad commented: "We anticipate using the
proceeds from the capital raise for a number of upcoming potential transactions. These include:
 the potential acquisition of an interest in a chain of restaurants/retail operations;
 the acquisition of interests in certain projects, including an interest in a real estate
development company;
 additional future investment in the Company's existing partially-owned subsidiary in the
reinsurance industry;
 the retirement of existing convertible debt maturing in July; and
 for general working capital.
We expect to complete the financing with little cost to shareholders, as no commissions or finder's
fees will be paid.”

.16 is still well above BV, though. Seems ok to me.

Agreed.  Singleton's playbook.  You groupies are bidding up a start-up company.

I did not think Sanjeev would dillute his original investors who helped capitalize the company in the initial private placement. :-(

The private placement is only going out to the investors who capitalized the company in September/October 2014. 

If it is really undersubscribed by you guys, then it will go to other investors after the closing of the second tranche.  We will be participating and I expect many of you guys to participate! 

Look for the form letter and documents to be emailed to you by Marta (our legal counsel) or Christina (her paralegal) this week.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Hawks on May 04, 2016, 12:28:35 AM
Parsad
I'm on holidays in Australia/NZ til May 26. How long do we have to subscribe to the private placement?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on May 04, 2016, 06:51:06 AM
Parsad, I know it's been brought up a few times now, but have you got any thoughts on a Toronto Stock Exchange listing, and a reverse split?
I am fully aware that either measure will do nothing to increase intrinsic value. However, as PDH is soon to become a company with a $25M valuation, I think we're pretty close to the stage where the the $50k cost of taking the above steps is outweighed by the shareholder benefits of being able to hold PDH inside a retirement account, trade with less spreads, trade without excessive dealer costs, etc. It also puts shareholders on a level playing field - not all of us are able to dangle prevailing limit orders for $7.95 indefinitely in order to capture the spreads.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on May 04, 2016, 10:06:56 AM
Quote
Parsad, I know it's been brought up a few times now, but have you got any thoughts on a Toronto Stock Exchange listing, and a reverse split?
As to my first point, I'd like to buy a position, but am basically locked out because my broker only allows me to trade TSX shares.
On my second point, even if you were to list on the TSX, then I am screwed again because my broker charges 2c a share on any transaction.
I am fully aware that either measure will do nothing to increase intrinsic value. However, as PDH is soon to become a company with a $25M valuation, I think we're pretty close to the stage where the the $50k cost of taking the above steps is outweighed by the shareholder benefits of being able to hold PDH inside a retirement account, trade with less spreads, trade without excessive dealer costs, etc. It also puts shareholders on a level playing field - not all of us are able to dangle prevailing limit orders for $7.95 indefinitely in order to capture the spreads.

I am able to do this in the US with Schwab.  ( I have in my profit sharing account)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gjangal on May 04, 2016, 11:54:18 AM
I can also verify that in Schwab you can trade prdgf. I ve been able to buy 20k blocks multiple times
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on May 04, 2016, 12:11:44 PM
You can buy it on Fido too. But that might not help Canadian people who may have restrictions on their broker selection (especially if they work in financial industry) or want to buy it in their retirement plans.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on May 04, 2016, 12:27:23 PM
Wells Trade works too. I bought 100K chunks for a 2% comm
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on May 04, 2016, 05:39:52 PM
Parsad
I'm on holidays in Australia/NZ til May 26. How long do we have to subscribe to the private placement?

The first tranche will probably close just before you get back...our legal counsel put down around the 16th, but it will probably be a little later.  The second tranche will close end of 1st week of June or so, so you will be able to subscribe before the 2nd close.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Sunrider on May 05, 2016, 12:15:45 AM
Haven't received anything and I did participate in the 2014 offering?

Parsad
I'm on holidays in Australia/NZ til May 26. How long do we have to subscribe to the private placement?

The first tranche will probably close just before you get back...our legal counsel put down around the 16th, but it will probably be a little later.  The second tranche will close end of 1st week of June or so, so you will be able to subscribe before the 2nd close.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on May 05, 2016, 06:43:08 PM
Haven't received anything and I did participate in the 2014 offering?

Parsad
I'm on holidays in Australia/NZ til May 26. How long do we have to subscribe to the private placement?

The first tranche will probably close just before you get back...our legal counsel put down around the 16th, but it will probably be a little later.  The second tranche will close end of 1st week of June or so, so you will be able to subscribe before the 2nd close.  Cheers!

Should be emailed out tomorrow and Monday.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 10, 2016, 05:40:32 AM
Another partnership with Kingswood.

The Issuer proposes to acquire 500,000 Class B Common shares of Arcola Developments Ltd. ("Arcola") for a total subscription price of $500,000, paid in cash. Arcola is a newly formed company which was created for the purpose of acquiring land for a development opportunity in Burnaby, B.C., a suburb of Vancouver. The development will be managed by Arcola's project manager, Kingswood Real Estate Management Inc. ("Kingswood"). The Issuer is party to a subscription agreement for purchase of Class B Common shares of Arcola, subject to acceptance by Arcola. All shareholders of Arcola will be party to a unanimous shareholders' agreement dated for reference February 26, 2016
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on May 10, 2016, 03:09:44 PM
Another partnership with Kingswood.

The Issuer proposes to acquire 500,000 Class B Common shares of Arcola Developments Ltd. ("Arcola") for a total subscription price of $500,000, paid in cash. Arcola is a newly formed company which was created for the purpose of acquiring land for a development opportunity in Burnaby, B.C., a suburb of Vancouver. The development will be managed by Arcola's project manager, Kingswood Real Estate Management Inc. ("Kingswood"). The Issuer is party to a subscription agreement for purchase of Class B Common shares of Arcola, subject to acceptance by Arcola. All shareholders of Arcola will be party to a unanimous shareholders' agreement dated for reference February 26, 2016

Given the other discussion around Vancouver's real estate price and bubble, these guys must be really good for Sanjeev to get more engaged on this.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rohitc99 on May 25, 2016, 11:09:53 AM
Haven't received anything and I did participate in the 2014 offering?

Parsad
I'm on holidays in Australia/NZ til May 26. How long do we have to subscribe to the private placement?

The first tranche will probably close just before you get back...our legal counsel put down around the 16th, but it will probably be a little later.  The second tranche will close end of 1st week of June or so, so you will be able to subscribe before the 2nd close.  Cheers!

Should be emailed out tomorrow and Monday.  Cheers!

Should we expect an email or something in a hard copy ? i have not recieved either. assume this is the same for US based investors too
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on May 25, 2016, 03:41:21 PM
Haven't received anything and I did participate in the 2014 offering?

Parsad
I'm on holidays in Australia/NZ til May 26. How long do we have to subscribe to the private placement?

The first tranche will probably close just before you get back...our legal counsel put down around the 16th, but it will probably be a little later.  The second tranche will close end of 1st week of June or so, so you will be able to subscribe before the 2nd close.  Cheers!

Should be emailed out tomorrow and Monday.  Cheers!

Should we expect an email or something in a hard copy ? i have not recieved either. assume this is the same for US based investors too

If you have not received the private placement documents, please email me at sparsad@pdh-inc.com.  Christina should have emailed it out to everyone that participated in the original September 2014 private placement.  Let me know and I will get you the documents right away.  Thanks very much!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on May 31, 2016, 09:39:21 AM
The 6 month financials ending March 31st have been added to Sedar. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 31, 2016, 10:46:26 AM
I won't have a chance to look at it until tonight. Care to sum it up?

The 6 month financials ending March 31st have been added to Sedar.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on May 31, 2016, 01:41:00 PM
The only thing I am wondering it what happened in China?  Pretty large drop in scans for the 3 months ending March 31.  Was the center shutdown for upgrades part of the time?

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on May 31, 2016, 03:26:10 PM
The only thing I am wondering it what happened in China?  Pretty large drop in scans for the 3 months ending March 31.  Was the center shutdown for upgrades part of the time?
It sounds like demand just evaporated. I wonder is this a symptom of the Chinese economy? It went from a run rate of ~2.5K scans a quarter to just over 800 in the space of a single quarter.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rohitc99 on June 01, 2016, 11:45:34 AM
The only thing I am wondering it what happened in China?  Pretty large drop in scans for the 3 months ending March 31.  Was the center shutdown for upgrades part of the time?
It sounds like demand just evaporated. I wonder is this a symptom of the Chinese economy? It went from a run rate of ~2.5K scans a quarter to just over 800 in the space of a single quarter.

Yes, thats a major surprise. but these scans are generally for critical medical conditions, so they should not be so dependent on the economy (unless it is a venezuela). Was there a major loss of contract ?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on July 23, 2016, 09:43:58 AM
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) announces that it intends to acquire units ("Units") of MyCare MedTech Inc. ("MMI"), a telemedicine company which uses communication technology to deliver virtual medical consultations with licensed healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price of the Units is $0.35 per Unit. Premier intends to acquire up to $500,000 worth of Units in two tranches, with its first acquisition of $250,000 closing in July and its second acquisition of $250,000 closing in August. The purchase price will be paid in cash. 

Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to purchase an additional MMI Share at $0.50 until December 31, 2018. Additionally, MMI will issue 570,000 incentive MMI Shares to Premier. Premier does not currently hold any securities of MMI. After acquiring the Units, it will hold 2,000,000 MMI Shares, approximately 14.34% (undiluted) of the issued and outstanding MMI Shares. Sanjeev Parsad, Premier President and CEO, will be appointed to the board of directors of MMI.

MMI is a private company incorporated under the laws of Alberta and is a Canadian telemedicine company which provides virtual medical consultations with licensed healthcare providers through computers, tablets and mobile devices. The GOeVisit medical team can provide diagnosis, alternate remedies and/or prescriptions for over 30 non-emergency conditions and uncomplicated medical concerns such as a sore throat, stomach virus, upper respiratory infection (e.g. bronchitis), strain or sprain, sinus infection, urinary tract infection, rash, allergy, headache, pink eye, burn or laceration. GOeVisit is available 24/7 and its certified healthcare professionals include licenses nurse practitioners and doctors. More information is available at: https://www.evisit.healthcare. 

“Jim Viccars, founder of GOeVisit, has been involved with health insurance for over 30 years, spending the last decade trying to make diagnosis and treatment more convenient for consumers,” said Sanjeev Parsad. “MMI has the ability to do this and could be disruptive in how the average patient seeks general medical diagnosis
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: tripleoptician on July 23, 2016, 06:34:06 PM
This has been the Holy grail of e-health and the tech industry.
Competitive space even in Canada - https://www.askthedoctor.com/
Medeo.ca

Most of these have been around >5 years and have a hard time monetizing or growing quickly.

This also doesn't include the amount of VC /Silicon Valley $'s trying to do this in the US/on a global scale.

Is no question medicine will eventually go this way, but it has been difficult to find ways to compensate for the doctors time and get people to pay larger amounts for something that is covered for free in Canada.

I know senior management for askthedoctor.com and is interesting hearing the growth potentials but also the challenges that befall this industry

Hopefully PDH has success here but definitely has a speculative component

Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) announces that it intends to acquire units ("Units") of MyCare MedTech Inc. ("MMI"), a telemedicine company which uses communication technology to deliver virtual medical consultations with licensed healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price of the Units is $0.35 per Unit. Premier intends to acquire up to $500,000 worth of Units in two tranches, with its first acquisition of $250,000 closing in July and its second acquisition of $250,000 closing in August. The purchase price will be paid in cash. 

Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to purchase an additional MMI Share at $0.50 until December 31, 2018. Additionally, MMI will issue 570,000 incentive MMI Shares to Premier. Premier does not currently hold any securities of MMI. After acquiring the Units, it will hold 2,000,000 MMI Shares, approximately 14.34% (undiluted) of the issued and outstanding MMI Shares. Sanjeev Parsad, Premier President and CEO, will be appointed to the board of directors of MMI.

MMI is a private company incorporated under the laws of Alberta and is a Canadian telemedicine company which provides virtual medical consultations with licensed healthcare providers through computers, tablets and mobile devices. The GOeVisit medical team can provide diagnosis, alternate remedies and/or prescriptions for over 30 non-emergency conditions and uncomplicated medical concerns such as a sore throat, stomach virus, upper respiratory infection (e.g. bronchitis), strain or sprain, sinus infection, urinary tract infection, rash, allergy, headache, pink eye, burn or laceration. GOeVisit is available 24/7 and its certified healthcare professionals include licenses nurse practitioners and doctors. More information is available at: https://www.evisit.healthcare. 

“Jim Viccars, founder of GOeVisit, has been involved with health insurance for over 30 years, spending the last decade trying to make diagnosis and treatment more convenient for consumers,” said Sanjeev Parsad. “MMI has the ability to do this and could be disruptive in how the average patient seeks general medical diagnosis
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: james22 on July 23, 2016, 09:28:15 PM
You can buy it on Fido too. But that might not help Canadian people who may have restrictions on their broker selection (especially if they work in financial industry) or want to buy it in their retirement plans.

Vanguard as well.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on August 12, 2016, 06:22:32 AM
Sequant Re Holdings seems to have dropped in value.  They currently paid USD$0.50 per share and in the past the company purchased shares at USD$2.00 per share.  Anyone have any additional insight? 

http://thecse.com/sites/default/files/PDH_-_News_Release_announcing_Reinsurance_Investment_5bAugust_20165d.pdf
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Otsog on August 12, 2016, 09:00:05 AM
Curious about that too


shares
price
cash
Aug 11, 2016
600,000
0.50
300,000
Nov 3, 2015
158,000
2.00
316,000
Dec 16, 2014
     3,010,000     
0.50
     1,505,000     
Total
3,768,000
2,121,000
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on August 12, 2016, 05:25:31 PM
Another $300,000 today at .50....
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on August 26, 2016, 06:01:21 AM
The 6 month financials ending March 31st have been added to Sedar.

The 6 months ending June 30th should be posted in the next few days as well.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on August 31, 2016, 06:01:24 PM
Widened losses?

Revenue (note 17) $ 314,685 $ 431,716 $ 984,554 $ 1,068,868
Cost of goods sold (104,587) (106,639) (255,016) (279,844)
Gross margin 210,098 325,077 729,538 789,024
Operating costs (note 13) 343,366 360,173 1,028,523 942,485
Net operating loss (133,268) (35,096) (298,985) (153,461)
Total corporate expenses (note 14) 298,976 307,145 856,997 802,173
Loss before other items (432,244) (342,241)  (1,155,982) (955,634)

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on August 31, 2016, 06:11:19 PM
Would be nice to see some/any revenue from Sequant Re!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Junto on August 31, 2016, 09:08:54 PM
Parsad needs to ax the operations and focus on new ventures. Way too much money spent on diagnostic business with no growth and mounting losses. The numbers speak for themselves. 

Condolences to those of you who invested but more dilution is inevitable at this pace.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on August 31, 2016, 10:10:22 PM
Parsad needs to ax the operations and focus on new ventures. Way too much money spent on diagnostic business with no growth and mounting losses. The numbers speak for themselves. 

Condolences to those of you who invested but more dilution is inevitable at this pace.

I haven't seen any sale of PDH shares from corner capital so obviously Parsad is in denial if I follow your comments. I hope he will appreciate your attention with your condolences, you were right from the beginning. Congrats!  :o
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on September 01, 2016, 06:16:22 AM
Regarding dilution, Junto had this post at the beginning - sept 2014, the outstanding shares are now close to 150 million. However, the company is more diversified now and does investments too.

These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

Parsad needs to ax the operations and focus on new ventures. Way too much money spent on diagnostic business with no growth and mounting losses. The numbers speak for themselves. 

Condolences to those of you who invested but more dilution is inevitable at this pace.

I haven't seen any sale of PDH shares from corner capital so obviously Parsad is in denial if I follow your comments. I hope he will appreciate your attention with your condolences, you were right from the beginning. Congrats!  :o
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 01, 2016, 11:49:18 AM
Regarding dilution, Junto had this post at the beginning - sept 2014, the outstanding shares are now close to 150 million. However, the company is more diversified now and does investments too.

These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

Parsad needs to ax the operations and focus on new ventures. Way too much money spent on diagnostic business with no growth and mounting losses. The numbers speak for themselves. 

Condolences to those of you who invested but more dilution is inevitable at this pace.

I haven't seen any sale of PDH shares from corner capital so obviously Parsad is in denial if I follow your comments. I hope he will appreciate your attention with your condolences, you were right from the beginning. Congrats!  :o

Those options and shares were issued before my watch to our general manager in China, brought over from Siemens China.  It was a "kicker" as Junto said, but not my kicker.  Nothing even remotely close to that contract has been offered since I took over as CEO...not to employees, not to directors and certainly not to me.

Dilution was always going to happen because we had to diversify the business and start to generate different streams of cash flow.  That was not going to happen overnight with only income coming from China.  As you mentioned, the company is more diversified now, but is still a work in progress.  You now have Sequant Re, Mycare Medtech, our real estate investments, 18% of Russell Breweries, our investment portfolio, the China MRI clinic and contrary to what Junto suggests about the diagnostic business, the Burnaby PET/CT Clinic which is starting to scale up very nicely with our addition of Clinical Trial scans.

Look at our balance sheet...the Burnaby Clinic is carried at the depreciated cost of the PET/CT equipment...essentially the same as two years ago when it was shut down.  You all understand the difference between accounting carrying value and intrinsic value.  Can Junto in anyway convince a reasonable investor that the Burnaby Clinic is worth the same today as two years ago, when we are doing 30 scans a month, essentially now profitable, and scaling scans upwards going forward? 

This Clinic whose reputation was in tatters now has nearly 100 doctors referring patients.  A Clinic who has no other competition than the provincial government, who we are building a relationship with?  A Clinic that is now doing clinical trials where we do not have to buy the radioisotope for the patient or incur the shipping costs...gross margins on these scans are close to 80% and net profit margins are about 35%!  What do you think this Clinic business is worth today already and what should its true accounting value be?  Certainly not the depreciated cost of the PET/CT equipment!

Judge me in another 3 years, so that I have at least 5 years at the helm!  And as Goldfinger said, have you seen me sell a single share yet?  Cheers!   
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Sunrider on September 01, 2016, 10:02:08 PM
Parsad
Just an observation - getting upset about troll-like comments isn't necessary or befitting :)

Just do your thing. Mud will always be slung and judgement can only be made over a multi-year timeframe here.

C.

Regarding dilution, Junto had this post at the beginning - sept 2014, the outstanding shares are now close to 150 million. However, the company is more diversified now and does investments too.

These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

Parsad needs to ax the operations and focus on new ventures. Way too much money spent on diagnostic business with no growth and mounting losses. The numbers speak for themselves. 

Condolences to those of you who invested but more dilution is inevitable at this pace.

I haven't seen any sale of PDH shares from corner capital so obviously Parsad is in denial if I follow your comments. I hope he will appreciate your attention with your condolences, you were right from the beginning. Congrats!  :o

Those options and shares were issued before my watch to our general manager in China, brought over from Siemens China.  It was a "kicker" as Junto said, but not my kicker.  Nothing even remotely close to that contract has been offered since I took over as CEO...not to employees, not to directors and certainly not to me.

Dilution was always going to happen because we had to diversify the business and start to generate different streams of cash flow.  That was not going to happen overnight with only income coming from China.  As you mentioned, the company is more diversified now, but is still a work in progress.  You now have Sequant Re, Mycare Medtech, our real estate investments, 18% of Russell Breweries, our investment portfolio, the China MRI clinic and contrary to what Junto suggests about the diagnostic business, the Burnaby PET/CT Clinic which is starting to scale up very nicely with our addition of Clinical Trial scans.

Look at our balance sheet...the Burnaby Clinic is carried at the depreciated cost of the PET/CT equipment...essentially the same as two years ago when it was shut down.  You all understand the difference between accounting carrying value and intrinsic value.  Can Junto in anyway convince a reasonable investor that the Burnaby Clinic is worth the same today as two years ago, when we are doing 30 scans a month, essentially now profitable, and scaling scans upwards going forward? 

This Clinic whose reputation was in tatters now has nearly 100 doctors referring patients.  A Clinic who has no other competition than the provincial government, who we are building a relationship with?  A Clinic that is now doing clinical trials where we do not have to buy the radioisotope for the patient or incur the shipping costs...gross margins on these scans are close to 80% and net profit margins are about 35%!  What do you think this Clinic business is worth today already and what should its true accounting value be?  Certainly not the depreciated cost of the PET/CT equipment!

Judge me in another 3 years, so that I have at least 5 years at the helm!  And as Goldfinger said, have you seen me sell a single share yet?  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on September 02, 2016, 05:38:38 AM
Appreciate Parsad for giving color - there are many in this board who are invested with you.

Regarding dilution, Junto had this post at the beginning - sept 2014, the outstanding shares are now close to 150 million. However, the company is more diversified now and does investments too.

These numbers are not in thousands. June 30 (before PPM) shares outstanding 52,934,978 before considering numerous warrants and options outstanding.  The kicker is that on August 5, 2014 the company issued "700,000 options to purchase shares of the company, as well as 3,000,000 common shares at a deemed value of $0.05 per share to a director of the Company as a signing bonus." Awfully close to the PPM raise.

Parsad needs to ax the operations and focus on new ventures. Way too much money spent on diagnostic business with no growth and mounting losses. The numbers speak for themselves. 

Condolences to those of you who invested but more dilution is inevitable at this pace.

I haven't seen any sale of PDH shares from corner capital so obviously Parsad is in denial if I follow your comments. I hope he will appreciate your attention with your condolences, you were right from the beginning. Congrats!  :o

Those options and shares were issued before my watch to our general manager in China, brought over from Siemens China.  It was a "kicker" as Junto said, but not my kicker.  Nothing even remotely close to that contract has been offered since I took over as CEO...not to employees, not to directors and certainly not to me.

Dilution was always going to happen because we had to diversify the business and start to generate different streams of cash flow.  That was not going to happen overnight with only income coming from China.  As you mentioned, the company is more diversified now, but is still a work in progress.  You now have Sequant Re, Mycare Medtech, our real estate investments, 18% of Russell Breweries, our investment portfolio, the China MRI clinic and contrary to what Junto suggests about the diagnostic business, the Burnaby PET/CT Clinic which is starting to scale up very nicely with our addition of Clinical Trial scans.

Look at our balance sheet...the Burnaby Clinic is carried at the depreciated cost of the PET/CT equipment...essentially the same as two years ago when it was shut down.  You all understand the difference between accounting carrying value and intrinsic value.  Can Junto in anyway convince a reasonable investor that the Burnaby Clinic is worth the same today as two years ago, when we are doing 30 scans a month, essentially now profitable, and scaling scans upwards going forward? 

This Clinic whose reputation was in tatters now has nearly 100 doctors referring patients.  A Clinic who has no other competition than the provincial government, who we are building a relationship with?  A Clinic that is now doing clinical trials where we do not have to buy the radioisotope for the patient or incur the shipping costs...gross margins on these scans are close to 80% and net profit margins are about 35%!  What do you think this Clinic business is worth today already and what should its true accounting value be?  Certainly not the depreciated cost of the PET/CT equipment!

Judge me in another 3 years, so that I have at least 5 years at the helm!  And as Goldfinger said, have you seen me sell a single share yet?  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: eclecticvalue on September 02, 2016, 06:05:50 AM
Create a new company in the USA and you will get more money for sure. ;)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on September 02, 2016, 06:10:50 AM
Parsad
Just an observation - getting upset about troll-like comments isn't necessary or befitting :)

Just do your thing. Mud will always be slung and judgement can only be made over a multi-year timeframe here.

I agree with "not necessary", but I always enjoy reading Sanjeev's comments.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rohitc99 on September 02, 2016, 06:16:37 AM
Sanjeev
can you share why the Joint venture MRI centre in china down 50% on revenue ? can you share the plans on reversing the same ?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on September 02, 2016, 07:35:38 AM

Those options and shares were issued before my watch to our general manager in China, brought over from Siemens China.  It was a "kicker" as Junto said, but not my kicker.  Nothing even remotely close to that contract has been offered since I took over as CEO...not to employees, not to directors and certainly not to me.


I assume that nothing can be done in 'restructuring' the contract? I always felt that it's too much to pay for the china GM, especially given that the CFO is the wife?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 02, 2016, 10:02:29 AM
Sanjeev
can you share why the Joint venture MRI centre in china down 50% on revenue ? can you share the plans on reversing the same ?

China is china...more color in the annual letter.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on September 05, 2016, 06:51:01 PM

Those options and shares were issued before my watch to our general manager in China, brought over from Siemens China.  It was a "kicker" as Junto said, but not my kicker.  Nothing even remotely close to that contract has been offered since I took over as CEO...not to employees, not to directors and certainly not to me.


I assume that nothing can be done in 'restructuring' the contract? I always felt that it's too much to pay for the china GM, especially given that the CFO is the wife?

See CSE Form 7 filing for August. 

http://thecse.com/en/listings/diversified-industries/premier-diversified-holdings-inc

Never say never...but if contracts aren't in shareholders interests from the start, terminating them comes at a cost.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on September 07, 2016, 05:38:37 AM
Happy to see that the share price is decreasing  ;)

Happy to see that you keep the focus on the long term interest Sanjeev. As investors, that's what we are doing too.

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Otsog on September 30, 2016, 12:47:50 PM
Congrats on another year in the books!

Hopefully Sequant earned some money
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: karthikpm on October 04, 2016, 05:58:38 PM
What ticker is it currently trading under? I can't seem to find it
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on October 05, 2016, 05:26:00 AM
What ticker is it currently trading under? I can't seem to find it

PRDGF

Fidelity: https://eresearch.fidelity.com/eresearch/goto/evaluate/snapshot.jhtml?symbols=PRDGF
Yahoo:  https://finance.yahoo.com/quote/PRDGF



Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: IntrinsicEdge on October 05, 2016, 12:17:25 PM
Monthly report to the CSE for Sept is out:
http://thecse.com/en/listings/diversified-industries/premier-diversified-holdings-inc

Look at the right sidebar under the title "CSE Filings"
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on October 07, 2016, 09:48:52 AM
http://finance.yahoo.com/news/russell-breweries-inc-enters-two-152115137.html

Russell is selling-off the company for approximately $0.085 on a per share basis, which represents a premium of 35%.   Does anyone know what is the cost basis for Premier as it was via a share swap?

Sanjeev, the hunt begins...
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Otsog on October 07, 2016, 03:55:32 PM
PDH is buying 14,506,00 shares (~17%) of Russell Breweries from MPIC and G. Andrew Cooke.   Total value is $1,218,504. 

PDH is issuing 5,802,400 shares for purchase and is paying a pretty significant price premium (68%).  PDH shares at $.21 and Russell Shares at $.05.   PDH value  $1,218,504 and Russell value at  $725,300.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Otsog on October 07, 2016, 03:59:42 PM
So, $0.084 cost basis based on PDH @ $0.21

Cost of $0.056 cost based on today's closing price.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on November 02, 2016, 06:04:42 PM
More purchases of Sequant Re equity on 10/28/2016 - with a 41.81% total ownership now... I wish we had more news about what's up at Sequant Re though... It is quite opaque at the moment...

The Company completed a share purchase of 600,000 common shares ("Shares") of Sequant Re
Holdings Limited ("SRHL") at USD$0.50 per common share for total consideration of
USD$300,000. The acquisition was made through the Company's wholly-owned subsidiary,
Premier Diversified Holdings (Bermuda) Ltd. ("Premier Bermuda"), which is the registered
holder of the Shares.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
Premier acquired 600,000 Shares of SRHL at USD$0.50 per common share for total
consideration of USD$300,000 (approximately CAD$400,020). The acquisition was made
through Premier Bermuda, which is the registered holder of the Shares. The purchase price was
paid in cash by Premier Bermuda, from a loan made by Premier.
Following this acquisition, Premier holds a total of 4,726,000 common shares of SRHL
(approximately 41.81% on an undiluted basis), all of which are held indirectly through Premier
Bermuda.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on November 03, 2016, 05:44:50 AM
More purchases of Sequant Re equity on 10/28/2016 - with a 41.81% total ownership now... I wish we had more news about what's up at Sequant Re though... It is quite opaque at the moment...

I agree.  The continued buying does show that Sanjeev&Co. are still bullish on Sequant Re though.  That itself is a kind of information I guess.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 03, 2016, 06:02:12 AM
Or Sanjeev is stuck and forced to continue to increase his position as Sequant Re continues to burn through cash. 

More purchases of Sequant Re equity on 10/28/2016 - with a 41.81% total ownership now... I wish we had more news about what's up at Sequant Re though... It is quite opaque at the moment...

I agree.  The continued buying does show that Sanjeev&Co. are still bullish on Sequant Re though.  That itself is a kind of information I guess.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on November 03, 2016, 06:20:57 AM
Or Sanjeev is stuck and forced to continue to increase his position as Sequant Re continues to burn through cash. 

Or that.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: tombgrt on November 03, 2016, 06:43:57 AM
Or Sanjeev is stuck and forced to continue to increase his position as Sequant Re continues to burn through cash. 

More purchases of Sequant Re equity on 10/28/2016 - with a 41.81% total ownership now... I wish we had more news about what's up at Sequant Re though... It is quite opaque at the moment...

I agree.  The continued buying does show that Sanjeev&Co. are still bullish on Sequant Re though.  That itself is a kind of information I guess.

Was thinking the same. Not exactly liquid to let go and ultimately the risk adjusted return might be better by trying to right the ship, even it this means putting more capital at risk.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 03, 2016, 08:02:52 AM
Which is unfortunate as there seems to be no demand for this type of Insurance product. 

Or Sanjeev is stuck and forced to continue to increase his position as Sequant Re continues to burn through cash. 

More purchases of Sequant Re equity on 10/28/2016 - with a 41.81% total ownership now... I wish we had more news about what's up at Sequant Re though... It is quite opaque at the moment...

I agree.  The continued buying does show that Sanjeev&Co. are still bullish on Sequant Re though.  That itself is a kind of information I guess.

Was thinking the same. Not exactly liquid to let go and ultimately the risk adjusted return might be better by trying to right the ship, even it this means putting more capital at risk.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on November 03, 2016, 03:14:27 PM
Which is unfortunate as there seems to be no demand for this type of Insurance product. 
The concept seems intriguing -- how did you know that there is no market?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on November 03, 2016, 06:50:48 PM
I doubt there is no market, but building a platform business is hard. You need scale of buyers and sellers at roughly the same time. Platform businesses are high risk high reward startups. If you succeed you've created a durable moat quality business. But if you don't reach scale, a platfom startup is likely a total loss.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gfp on November 04, 2016, 04:32:43 AM
I know someone who founded a platform startup [can't disclose name, but it's now a public company] and seems to be making it work after a decade or so of a tough fight.  It is the type of business that absolutely needs scale and revenues are measured in basis points.  They ended up getting the scale and staying alive from merging with competitors / almost-competitors to gain scale that way.  Several deals.  He held on to the CEO role but was diluted a lot in the process.  Still a much better outcome than the alternative.  It's tough but if it looks like you won't get the scale you need in time, look at mergers to get it.  Not sure if there are any stand alone merger partners in this space as I don't know a whole lot about it.  Probably too early to know if they will need to get married to make it.

I doubt there is no market, but building a platform business is hard. You need scale of buyers and sellers at roughly the same time. Platform businesses are high risk high reward startups. If you succeed you've created a durable moat quality business. But if you don't reach scale, a platfom startup is likely a total loss.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Pelagic on November 04, 2016, 07:59:53 AM
The other thing with platform businesses is there is a high threshold for establishing trust in the product or service you're offering. It takes a long time for people's attitudes to change from "that's crazy, I'm not paying to ride in some person's own car" to "just call an Uber". Trust in a new product or service takes a lot of legwork by the team involved and creating a great user experience. I tend to think there is a market for what Sequant is offering, it just takes time for new customers to trust in the product they're offering. Every platform's dream is to reach that inflection point where network effects come into play and growth takes off like a rocket ship, whether Sequant gets there or not is yet to be seen but most successful platform companies had a number of lean years before things came together.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on November 10, 2016, 06:56:48 AM
Seems like a tough business to get going, especially as a startup.  Needs lots of time and cash.

Unfortunately, looks like the stock is reflecting that.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 18, 2016, 08:59:10 AM
Sanjeev, when do you plan on releasing year end results? 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on November 19, 2016, 03:52:48 PM
Sanjeev, when do you plan on releasing year end results?

Normally released towards the end of every January.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on December 21, 2016, 04:12:31 PM
Just thinking about the Russell Brewing sale.  Would it be conceivable that Sanjeev pulled a Berk/3G type deal and found a partner to work with to take Russell private?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on December 22, 2016, 09:07:57 AM
Not really. Sanjeev and his partner who traded russell shares for premier really took a hit. The only benefit is due to the stock falling in price, shareholders in premier benefited to the detriment of sanjeev and his partner. Russell management was exploring strategic options for the company. Read the circular that was sent out.

I bought a small position in Russell and then doubled down with a book value of $0.055. This has been a great investment and hopefully we get the full $0.085.

Just thinking about the Russell Brewing sale.  Would it be conceivable that Sanjeev pulled a Berk/3G type deal and found a partner to work with to take Russell private?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on December 22, 2016, 02:49:32 PM
I would think when Russell was trying to sell their businesses they would have asked Premier if it wanted to outbid the folks who did buy them, so presumably they have had a chance to bid and declined.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on December 22, 2016, 04:58:30 PM
The details of the sale are all laid out in the filings on SEDAR.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on January 03, 2017, 05:23:28 PM
What's everybody's expectations on what the year end results will say?

I'm most curious to see what if any traction Sequant Re has found.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on January 03, 2017, 06:45:09 PM
I would love to see some revenue from Sequant Re.


Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on January 27, 2017, 05:00:59 AM
Only a few more days to go. ......
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on January 27, 2017, 05:29:17 AM
Results came out yesterday..
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on January 27, 2017, 07:06:33 AM
Thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on January 27, 2017, 08:18:33 AM
I won't be able to read the MD&A until tonight, can anyone post key highlights?  (MRI clinic in China, Sequant still burning cash? along with how his equities positions did?)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gfp on January 27, 2017, 08:43:35 AM
Here are some links to the documents, makes it easier to find:

best to get it straight from the source

MD&A:
http://thecse.com/sites/default/files/investorx/PDH/1701261537393348.pdf

Financial statements:
http://thecse.com/sites/default/files/investorx/PDH/1701261537256776.pdf
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on January 27, 2017, 09:21:06 AM
Is there a separate letter to shareholders like last year?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: drzola on January 27, 2017, 09:23:03 AM
Ourkid8,  I sent you an email with my thoughts/rants on PDh so, keeping in mind this information is already going on 4 months old and what with Regime change ( i.e. Hyper active Trump too date ) who knows anything anymore.

Cheers.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: doc75 on January 27, 2017, 09:44:29 AM
I've taken only a quick look, but from what I saw it appeared revs from China essentially went to 0, and no mention of Sequant revenue, just a loss on that investment of approx $180k on the quarter.  There were a few words in the MD&A describing difficulties in China and the possibility that the China MRI ops could be disposed if poor conditions persist, and nothing on Sequant.  I would certainly appreciate some additional colour on those matters.  I have a token position but have been sitting on the sidelines until there's more clarity regarding the underlying businesses.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on January 27, 2017, 12:25:35 PM
Is there a separate letter to shareholders like last year?

Letter will come out in early February after we have set the AGM date.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wisdom on February 01, 2017, 04:09:24 PM
http://www.marketwired.com/press-release/premier-diversified-holdings-inc-closes-400k-private-placement-cse-pdh-2192025.htm

http://www.marketwired.com/press-release/premier-diversified-holdings-inc-announces-share-purchase-cse-pdh-2192448.htm

private placement and investment in sequant.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on February 01, 2017, 04:28:42 PM
http://www.marketwired.com/press-release/premier-diversified-holdings-inc-closes-400k-private-placement-cse-pdh-2192025.htm

http://www.marketwired.com/press-release/premier-diversified-holdings-inc-announces-share-purchase-cse-pdh-2192448.htm

private placement and investment in sequant.

Is this a dilution? 
Prasad must have seen great things for SequentRe to continue to put money in -- can't wait to see the annual letter.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on February 01, 2017, 05:02:36 PM
Not really dilution since the price is just the current market price.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on February 02, 2017, 08:02:14 AM
Regarding the letter Sanjeev, I agree with the others that more clarification about what's going one with the underlying businesses would be great. And if possible, what do you think about these businesses. Why did you invested in them in the beginning. It would help us clarify what is your investing framework.

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: warrior on February 02, 2017, 08:39:28 AM
Regarding the letter Sanjeev, I agree with the others that more clarification about what's going one with the underlying businesses would be great. And if possible, what do you think about these businesses. Why did you invested in them in the beginning. It would help us clarify what is your investing framework.

Cheers!

+1
 I agree with Partner24 and others that more clarity in AL in terms of mid term , long term objectives,  would be much appreciated.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on February 02, 2017, 08:58:02 AM
Regarding the letter Sanjeev, I agree with the others that more clarification about what's going one with the underlying businesses would be great. And if possible, what do you think about these businesses. Why did you invested in them in the beginning. It would help us clarify what is your investing framework.

Cheers!

+1
 I agree with Partner24 and others that more clarity in AL in terms of mid term , long term objectives,  would be much appreciated.

Yes especially with Sequant Re.  It has such a radically different business model that I have to think there is a real possibility of long term failure.  What makes you so confident in its long term success?  Is it still simply a trust in Guy Cloutier or is the company starting to show some traction?  PDH is investing heavily in Sequant, so some more color about what is going on there would be appreciated.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on February 02, 2017, 09:04:14 AM
Not really dilution since the price is just the current market price.

Not in terms of price, but in terms of number of shares outstanding.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on February 13, 2017, 06:05:52 PM
Do you have a date for your letter?
Thanks
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on February 24, 2017, 05:35:28 AM
Eagerly awaiting the letter and some discussion and color on Sequant RE.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on February 24, 2017, 12:14:14 PM
Eagerly awaiting the letter and some discussion and color on Sequant RE.

Do you have a date for your letter?
Thanks

Hi Folks,

The letter will be a bit later than originally indicated.  1st Q financials will go out soon, but I do want to put more color in about China, Sequant, etc and there are a number of things happening that will be included in the letter. 

Sorry for the delay, but there will be more information to digest for the wait!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on March 03, 2017, 11:56:39 AM
Out on SEDAR now.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on March 04, 2017, 10:00:05 AM
Out on SEDAR now.

I wish there is more color on Sequant -- we own 40+% now.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on March 04, 2017, 01:38:23 PM
I am sure there will be lots of color in the upcoming letter. Also, what is happening with the China subsidiary?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gfp on March 04, 2017, 03:44:05 PM
From this post I thought the letter was published - but just to confirm, it is not out yet - correct?  I did not find it on SEDAR.

Out on SEDAR now.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: nodnub on March 08, 2017, 02:19:07 PM
From this post I thought the letter was published - but just to confirm, it is not out yet - correct?  I did not find it on SEDAR.

Out on SEDAR now.

http://www.pdh-inc.com/financials.html

try using the sedar link from the PDH website.  That should work for you.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on March 08, 2017, 04:06:47 PM
yep, but the letter is not out yet.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CorpRaider on March 08, 2017, 04:54:26 PM
The "MD&A" is not the letter?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on March 08, 2017, 06:24:24 PM
The "MD&A" is not the letter?
The "MD&A" is not the letter?

No. That is released with every earnings release. We are waiting for the yearly letter to shareholders.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wescobrk on March 08, 2017, 08:32:08 PM
Is there somewhere other to find chairman letters beyond seder?
That site isn't search friendly.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on March 08, 2017, 08:49:49 PM
No
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on March 08, 2017, 09:01:32 PM
We just need a website like berkshire hathaway--link me to the AR and letter!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on March 09, 2017, 06:21:37 AM
We just need a website like berkshire hathaway--link me to the AR and letter!

It would be nice for them to put links to all of the letters on the website.  Last years letter is on sedar.com titled "Other" as follows:

"Jan 27 2016   19:57:20 ET  Other  PDF  193 K"

Not exactly easy to find.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on March 09, 2017, 03:33:42 PM
We just need a website like berkshire hathaway--link me to the AR and letter!

It would be nice for them to put links to all of the letters on the website.  Last years letter is on sedar.com titled "Other" as follows:

"Jan 27 2016   19:57:20 ET  Other  PDF  193 K"

Not exactly easy to find.

Will do!  I'll put buttons for all the letters linking to SEDAR going forward.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on March 10, 2017, 05:31:06 AM
We just need a website like berkshire hathaway--link me to the AR and letter!

It would be nice for them to put links to all of the letters on the website.  Last years letter is on sedar.com titled "Other" as follows:

"Jan 27 2016   19:57:20 ET  Other  PDF  193 K"

Not exactly easy to find.

Will do!  I'll put buttons for all the letters linking to SEDAR going forward.  Cheers!

Thanks Sanjeev!  It isn't your fault that sedar.com is just awful, but providing the links would be great.  I used to think that EDGAR was bad until I started researching Canadian stocks. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on March 23, 2017, 06:10:33 AM
hint hint, nudge nudge...

The letter will be a bit later than originally indicated.  1st Q financials will go out soon, but I do want to put more color in about China, Sequant, etc and there are a number of things happening that will be included in the letter. 

Sorry for the delay, but there will be more information to digest for the wait!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on March 28, 2017, 04:19:39 PM
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) announces that it
intends to acquire units ("Units") of MyCare MedTech Inc. ("MMI"), a telemedicine company
which uses communication technology to deliver virtual medical consultations with licensed
healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price
of the Units is $0.35 per Unit. Premier intends to acquire up to $500,000 worth of Units in several
tranches. The purchase price will be paid in cash.
Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share
purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to
purchase an additional MMI Share at $0.50 until December 31, 2018. Additionally, MMI will issue
570,000 incentive MMI Shares to Premier. Premier currently holds 2,000,000 MMI Shares. After
acquiring the Units, it will hold 4,000,000 MMI Shares, approximately 27% (undiluted) of the
issued and outstanding MMI Shares. Sanjeev Parsad, Premier President and CEO, is a director of
MMI.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: abitofvalue on April 04, 2017, 07:11:27 AM
Alnesh is taking over as CFO.

Following the resignation of outgoing CFO Grace Xian, Premier's board has appointed Alnesh Mohan as the new chief financial officer effective April 1, 201
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 04, 2017, 01:03:02 PM
Alnesh is taking over as CFO.

Following the resignation of outgoing CFO Grace Xian, Premier's board has appointed Alnesh Mohan as the new chief financial officer effective April 1, 201

It's a transition that we planned on making 2 years down the road, but decided to do it now as things become bigger and more complex...I think shareholders will be pleased where we are taking things...just be patient.  Marta Davidson, who is Corporate Secretary, is also coming in as essentially our in-house counsel as well...we did not have to announce that.  Both will play big roles going forward.  The annual letter is going through Marta's legal hands right now...hopefully we'll have it up this evening.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on April 05, 2017, 01:56:28 PM
Alnesh is taking over as CFO.

Following the resignation of outgoing CFO Grace Xian, Premier's board has appointed Alnesh Mohan as the new chief financial officer effective April 1, 201

It's a transition that we planned on making 2 years down the road, but decided to do it now as things become bigger and more complex...I think shareholders will be pleased where we are taking things...just be patient.  Marta Davidson, who is Corporate Secretary, is also coming in as essentially our in-house counsel as well...we did not have to announce that.  Both will play big roles going forward.  The annual letter is going through Marta's legal hands right now...hopefully we'll have it up this evening.  Cheers!
Maybe this evening?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on April 05, 2017, 01:57:00 PM
its out on sedar
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 05, 2017, 11:09:37 PM
its out on sedar

Seems like the SequentRe is still struggling to gain a real big customer -- does anyone in the insurance business know if this is the norm? I'm wondering if we end up buying more shares and still not gaining traction.

China op is a bust.

Rest seems to be doing fine.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 06, 2017, 06:45:57 AM
its out on sedar

Seems like the SequentRe is still struggling to gain a real big customer -- does anyone in the insurance business know if this is the norm? I'm wondering if we end up buying more shares and still not gaining traction.


Normally how anything with ecomonomies of scale works.  All the bigger players want someone else to move first to validate the product.  No one wants to stick their neck on the line for something different.  If company B is able to say company A is already using the system it validates it some in the decision making process.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 06, 2017, 01:19:16 PM
its out on sedar

Seems like the SequentRe is still struggling to gain a real big customer -- does anyone in the insurance business know if this is the norm? I'm wondering if we end up buying more shares and still not gaining traction.




Normally how anything with ecomonomies of scale works.  All the bigger players want someone else to move first to validate the product.  No one wants to stick their neck on the line for something different.  If company B is able to say company A is already using the system it validates it some in the decision making process.

Yes, that's fair.  It's been 2+ years for them to find that one big fish -- I'm just wondering if PDH can support this indefinitely....
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 06, 2017, 07:21:28 PM
For the private placements that the company does to raise funds... do you have to be an accrediated investor to take place in them?  Just wondering if there was a way to buy directly from the private placements instead of messing with the thinly traded bid/ask.

Pretty sure I already know the answer but it just in case the answer is something other then No.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on April 07, 2017, 05:13:39 AM
For the private placements that the company does to raise funds... do you have to be an accrediated investor to take place in them?  Just wondering if there was a way to buy directly from the private placements instead of messing with the thinly traded bid/ask.

Pretty sure I already know the answer but it just in case the answer is something other then No.


And if one is an accredited investor what is the minimum investment?  Can you invest $10K or would it have to be something much larger?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Cevian on April 07, 2017, 08:36:03 AM
There is sufficient volume at the moment to fill orders in the $10-25k investment range.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on April 07, 2017, 10:27:59 AM
There is sufficient volume at the moment to fill orders in the $10-25k investment range.

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on April 07, 2017, 12:21:02 PM
anyone heading to Vancouver next week?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on April 07, 2017, 02:01:23 PM
There is sufficient volume at the moment to fill orders in the $10-25k investment range.

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
In the same situation.

I hate buying the foreign US OTC listed shares. Horrible liquidity, horrible costs on entry, horrible costs on exit, often hard to even sell at times.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 07, 2017, 04:14:20 PM
There is sufficient volume at the moment to fill orders in the $10-25k investment range.

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
In the same situation.

I hate buying the foreign US OTC listed shares. Horrible liquidity, horrible costs on entry, horrible costs on exit, often hard to even sell at times.

We are working hard on getting a TSX-V listing.  That will help with liquidity and virtually all U.S. brokerages will start accepting some of the certificates that are sitting in safety deposit boxes in the U.S.  Won't be long.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: John Hjorth on April 08, 2017, 07:33:16 AM
We are working hard on getting a TSX-V listing.  That will help with liquidity and virtually all U.S. brokerages will start accepting some of the certificates that are sitting in safety deposit boxes in the U.S.  Won't be long.  Cheers!

It's a great intiative, Sanjeev! It will most likely give PDH a larger potential investor base going forward.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on April 08, 2017, 08:55:06 AM
I am out of town for the annual meeting.   Can someone take notes?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 11, 2017, 08:45:49 AM
Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

There is sufficient volume at the moment to fill orders in the $10-25k investment range.

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
In the same situation.

I hate buying the foreign US OTC listed shares. Horrible liquidity, horrible costs on entry, horrible costs on exit, often hard to even sell at times.

We are working hard on getting a TSX-V listing.  That will help with liquidity and virtually all U.S. brokerages will start accepting some of the certificates that are sitting in safety deposit boxes in the U.S.  Won't be long.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 11, 2017, 11:42:27 AM
Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

+1.

For those who participated the original rights offering at $0.18, are you still holding?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 11, 2017, 12:09:44 PM
Unfortunately yes...   :'( :'( :'(

Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

+1.

For those who participated the original rights offering at $0.18, are you still holding?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 11, 2017, 12:14:24 PM
Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

There is sufficient volume at the moment to fill orders in the $10-25k investment range.

The listing cost to move over to the TSX-V, including issuing the circular and everything is actually relatively small.  We do not need a sponsor like we would have two years ago when we first talked to them.  Cheers!

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
In the same situation.

I hate buying the foreign US OTC listed shares. Horrible liquidity, horrible costs on entry, horrible costs on exit, often hard to even sell at times.

We are working hard on getting a TSX-V listing.  That will help with liquidity and virtually all U.S. brokerages will start accepting some of the certificates that are sitting in safety deposit boxes in the U.S.  Won't be long.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 11, 2017, 12:21:09 PM
Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

+1.

For those who participated the original rights offering at $0.18, are you still holding?

Hey, we were the biggest buyers, and have you guys seen me sell a share yet?  Either you are in this for the long-haul or not.  And that's what it will take...it's a long-term investment.

- Berkshire Hathaway was a crappy textile company until Buffett acquired Blue Chip Stamps. 
- Markel was a run-down insurance company that needed capital before Prem borrowed everything he could to buy it. 
- Steak'n Shake was nearly bankrupt before Sardar turned it around. 

We were in the same boat...invested in a distressed company, that needed a bigger turnaround than we thought.  Now we have businesses that are growing and no debt.  And we will buy more...and more...and more! 

What I will tell you is that we are not a Sears Holding Company!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: fareastwarriors on April 11, 2017, 12:32:23 PM

What I will tell you is that we are not a Sears Holding Company!  Cheers!


 ;D ;D ;D
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on April 11, 2017, 01:23:20 PM
Somebody needed 5,000 shares pretty badly today.  ???
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 11, 2017, 02:12:17 PM
Relatively small means additional corporate overhead which we cannot afford.  Increasing OH would mean further dilution to existing shareholders.  Does it inconvenience some, sure but that's not your issue at this time besides you have one sole focus. If you cut additional OH costs that would be a bonus so work with a 3G mentality.

Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

There is sufficient volume at the moment to fill orders in the $10-25k investment range.

The listing cost to move over to the TSX-V, including issuing the circular and everything is actually relatively small.  We do not need a sponsor like we would have two years ago when we first talked to them.  Cheers!

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
In the same situation.

I hate buying the foreign US OTC listed shares. Horrible liquidity, horrible costs on entry, horrible costs on exit, often hard to even sell at times.

We are working hard on getting a TSX-V listing.  That will help with liquidity and virtually all U.S. brokerages will start accepting some of the certificates that are sitting in safety deposit boxes in the U.S.  Won't be long.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 11, 2017, 02:29:28 PM
Relatively small means additional corporate overhead which we cannot afford.  Increasing OH would mean further dilution to existing shareholders.  Does it inconvenience some, sure but that's not your issue at this time besides you have one sole focus. If you cut additional OH costs that would be a bonus so work with a 3G mentality.

Let's hope there are no additional costs to obtaining a TSX-V listing as Sanjeev's sole focus should be on becoming profitable on a net basis without incurring unnecessary costs at this time.  If there are additional costs, let's hold off for the time being as we do not want to increase the built-in costs at the corporate level. 

There is sufficient volume at the moment to fill orders in the $10-25k investment range.

The listing cost to move over to the TSX-V, including issuing the circular and everything is actually relatively small.  We do not need a sponsor like we would have two years ago when we first talked to them.  Cheers!

Not quite true for me.  Fidelity doesn't give me access to that small exchange (even though I can buy other canadian stocks directly) I have to buy PRDGF and I have had a hard time buying more than 10000-15000 shares at a time.  Oh yeah, and there is a $50 "Foreign Settlement Fee" which they tack on to the normal $4.95 trade fee for some reason.  That $50 fee doesn't apply to other foreign stocks I own either on the pink sheets or directly bought on the foreign exchanges that Fidelity supports.    So because of the exchange that PDH trades on it costs me $54.95US to buy 10-15K shares.  To buy 100,000 shares would cost me $500-$600US in fees.
In the same situation.

I hate buying the foreign US OTC listed shares. Horrible liquidity, horrible costs on entry, horrible costs on exit, often hard to even sell at times.

We are working hard on getting a TSX-V listing.  That will help with liquidity and virtually all U.S. brokerages will start accepting some of the certificates that are sitting in safety deposit boxes in the U.S.  Won't be long.  Cheers!

Are you kidding me?  Work with a 3G mentality.

You have a built-in burn rate from corporate overhead...that isn't going to dissipate by saving a few thousand dollars that would be spent on generating more liquidity in the stock and allowing U.S. investors to participate in a more meaningful way. 

There is going to be dilution until the existing businesses can generate enough free cash to cover inherent operating costs or you acquire businesses with enough existing cash flow.  If you aren't adding capital over time, it's likely you will be getting diluted until we reach that point where we are cash flow positive as an entity.  That's the reality of the existing business.  You aren't going to get enough in cost efficiencies to overcome the inherent burn rate...you need growth! 

Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rohitc99 on April 11, 2017, 02:59:54 PM
Somebody needed 5,000 shares pretty badly today.  ???

or some one got mixed up between usd and canadian $
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 11, 2017, 03:11:13 PM
We all understand you cannot get enough cost efficiencies to offset the current burn rate however by reducing the OH further will mean less dilution until we have growth.  That's why you need to be cognizant of every dollar of OH spent until we are in a better financial position. 

"Either you are in this for the long-haul or not.  And that's what it will take...it's a long-term investment."  I fully agree with this statement as you want a loyal shareholders base who fully trust managements ability to run a business however based on the previous private placement, it was not fully subscribed and many original shareholders are starting to lose that trust.  I do not want to sound rude or condescending and sorry in advance.  I have had numerous private conversations with shareholders who were part of the original private placement (myself included) and this is the constant theme I heard. 

If you would like me to share some of the feedback offline, that's fine as well. 

Everyone, have I lost my mind or do people agree?

You aren't going to get enough in cost efficiencies to overcome the inherent burn rate...you need growth! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on April 11, 2017, 03:51:51 PM
Please check out Schwab, I don't believe that they have that big of a charge.  I bought mine there.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 11, 2017, 03:53:04 PM
We all understand you cannot get enough cost efficiencies to offset the current burn rate however by reducing the OH further will mean less dilution until we have growth.  That's why you need to be cognizant of every dollar of OH spent until we are in a better financial position. 

"Either you are in this for the long-haul or not.  And that's what it will take...it's a long-term investment."  I fully agree with this statement as you want a loyal shareholders base who fully trust managements ability to run a business however based on the previous private placement, it was not fully subscribed and many original shareholders are starting to lose that trust.  I do not want to sound rude or condescending and sorry in advance.  I have had numerous private conversations with shareholders who were part of the original private placement (myself included) and this is the constant theme I heard. 

If you would like me to share some of the feedback offline, that's fine as well. 

You aren't going to get enough in cost efficiencies to overcome the inherent burn rate...you need growth! 

I absolutely agree with you, in terms of being efficient.  We've essentially dropped down now to about as low as we can go with the departure/consulting contract of our former CFO, our China GM...both inherited...brought legal in-house, etc.

We have fixed costs that are far more significant than any TSX listing costs:

- Lease for corporate and clinic
- Insurance (general, E&O, D&O)
- Registration, Filings, Press Releases, Licenses, Computershare
- Salaries, Wages & Benefits
- Audit & Tax Return Expenses

The TSX-V listing will provide increased liquidity, visibility, allow U.S. shareholders to deposit their certificates, and decrease the spread between the U.S. and Canadian market price.  Most U.S. brokerages do not recognize stocks listed on the CSE.  This creates issues for all shareholders, but in particular U.S. shareholders, including MPIC Fund I, LP which is the largest shareholder.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on April 11, 2017, 03:58:53 PM
Please check out Schwab, I don't believe that they have that big of a charge.  I bought mine there.

The $50 fee is relatively new at Fidelity within the last year.  I own more than 500k shares and most of them were acquired at Fidelity before they started charging the $50 fee per transaction.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on April 11, 2017, 04:11:36 PM
That's a good discussion.

When you have to raise cash by equity capital because the business is not independant by itself, than shareholder trust is your oxygen. It make sense to get listed to facilitate trading as long as the cost is reasonable. But depending too much on trust is far from being the ideal situation. Trust can be something very volatile.

But I understand that PDH is a very small business with already many different investments that are not cash flow positive. So I understand that, for now, we need to give water and seeds.

But there is ultimately no alternative to become a positive free cash flow business. A nice balance sheet with continuous free cash getting in is the ultimate ingredient to independance and health. And many small businesses, both private and public, are able to do that. Just take a look at PDRX as an example. Tiny business, far more liquid assets than liabilities and free cash flow positive.

I am slowly, but surely building a position in PDH. Another member of my famility is also doing that. I have the tendency to be very patient. I can and will keep buying shares as long as the plan is to become a healthy and cash independant business and actions point toward that.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on April 11, 2017, 04:17:01 PM
The $50 fee is relatively new at Fidelity within the last year.

It is not a new fee. I've bought five-letter-F stocks on Fido with extra $50 fee for ages. They change which stocks it applies to based on who-knows-what. It's possible that they changed it for the whole stock exchange or for this particular stock for whatever reason.

I think I've even seen the fee appear and disappear for one stock the same day, which is really weird. I've was motivated enough to call and question their reasoning. They might drop it for your trade if you call them. It's just not worth it usually.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on April 11, 2017, 05:53:07 PM
The $50 fee is relatively new at Fidelity within the last year.

It is not a new fee. I've bought five-letter-F stocks on Fido with extra $50 fee for ages. They change which stocks it applies to based on who-knows-what. It's possible that they changed it for the whole stock exchange or for this particular stock for whatever reason.

I think I've even seen the fee appear and disappear for one stock the same day, which is really weird. I've was motivated enough to call and question their reasoning. They might drop it for your trade if you call them. It's just not worth it usually.

That's just weird. I never ran into it before.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ScottHall on April 11, 2017, 06:30:32 PM
I threw a fit over a similar fee at another brokerage and they gave me 30 free trades when I threatened to leave.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: BTShine on April 11, 2017, 07:55:59 PM
I had a similar experience to Scott.  Mine was related to them buying me lots of 50 or 100 shares/day of a stock trading in the pennies.  $50 for the stock and $10 for the trade.  They gave me 20 or 30 free trades to compensate.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 11, 2017, 09:13:02 PM

There is going to be dilution until the existing businesses can generate enough free cash to cover inherent operating costs or you acquire businesses with enough existing cash flow.  If you aren't adding capital over time, it's likely you will be getting diluted until we reach that point where we are cash flow positive as an entity.  That's the reality of the existing business.  You aren't going to get enough in cost efficiencies to overcome the inherent burn rate...you need growth! 

Cheers!

Dilution is what worries me. I know it's part of the business. One thing that bothers me is that we keep buying SequentRe shares, and I'm worried that it's chasing that one big fish that is never there (sunken cost).
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 11, 2017, 09:18:52 PM
The $50 fee is relatively new at Fidelity within the last year.

It is not a new fee. I've bought five-letter-F stocks on Fido with extra $50 fee for ages. They change which stocks it applies to based on who-knows-what. It's possible that they changed it for the whole stock exchange or for this particular stock for whatever reason.

I think I've even seen the fee appear and disappear for one stock the same day, which is really weird. I've was motivated enough to call and question their reasoning. They might drop it for your trade if you call them. It's just not worth it usually.
I've been using tdameritrade, and i don't see additional fees.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on April 11, 2017, 09:27:20 PM
I think people realize this is the opportunity to invest in the next Watsa that is much younger. Watsa himself invested with Sanjeev. Many people here have invested with Biglari - now we have someone who is ethical, does work for the community and not full of themselves.

cheers!
shalab
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 12, 2017, 09:57:04 AM
Would you care to elaborate?  - Is Fairfax or Prem a shareholder of PDH? 

Watsa himself invested with Sanjeev.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: hillfronter83 on April 12, 2017, 10:39:16 AM
The $50 fee is relatively new at Fidelity within the last year.

It is not a new fee. I've bought five-letter-F stocks on Fido with extra $50 fee for ages. They change which stocks it applies to based on who-knows-what. It's possible that they changed it for the whole stock exchange or for this particular stock for whatever reason.

I think I've even seen the fee appear and disappear for one stock the same day, which is really weird. I've was motivated enough to call and question their reasoning. They might drop it for your trade if you call them. It's just not worth it usually.
I've been using tdameritrade, and i don't see additional fees.

For US investors, I believe Premier might be considered PFIC (passive foreign investment company), does this concern you? Or you just hold this in your tax exempted account?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on April 12, 2017, 10:44:14 AM
The $50 fee is relatively new at Fidelity within the last year.

It is not a new fee. I've bought five-letter-F stocks on Fido with extra $50 fee for ages. They change which stocks it applies to based on who-knows-what. It's possible that they changed it for the whole stock exchange or for this particular stock for whatever reason.

I think I've even seen the fee appear and disappear for one stock the same day, which is really weird. I've was motivated enough to call and question their reasoning. They might drop it for your trade if you call them. It's just not worth it usually.
I've been using tdameritrade, and i don't see additional fees.

For US investors, I believe Premier might be considered PFIC (passive foreign investment company), does this concern you? Or you just hold this in your tax exempted account?

They have operating businesses, so I hope it isn't PFIC or will stop being one soon.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: oddballstocks on April 12, 2017, 11:08:06 AM
The $50 fee is relatively new at Fidelity within the last year.

It is not a new fee. I've bought five-letter-F stocks on Fido with extra $50 fee for ages. They change which stocks it applies to based on who-knows-what. It's possible that they changed it for the whole stock exchange or for this particular stock for whatever reason.

I think I've even seen the fee appear and disappear for one stock the same day, which is really weird. I've was motivated enough to call and question their reasoning. They might drop it for your trade if you call them. It's just not worth it usually.
I've been using tdameritrade, and i don't see additional fees.

For US investors, I believe Premier might be considered PFIC (passive foreign investment company), does this concern you? Or you just hold this in your tax exempted account?

They have operating businesses, so I hope it isn't PFIC or will stop being one soon.

Or buy it in an IRA and not worry about it.  But I think the fact that the operations are significant protects them for now.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: tombgrt on April 12, 2017, 11:11:54 AM
I think people realize this is the opportunity to invest in the next Watsa that is much younger.

I think some people, after over 2.5 years, still haven't realized that this is pure hope and nothing more. To be clear, Parsad is a great and talented investor and chances are he does very well.

This is what I posted 09/2014:

Also I'll say it's rare to get such feedback from management. Sanjeev is candid and lays out his plan. Moreso than from the majority of CEOs out there. This automatically improves the odds because you don't have to discount management or quality of information you receive as an investor. In fact it may warrant a premium IMHO. How many managers out there do you know you can trust?

For all you know you are already paying a very rich premium to fair value. What is your investment basis other than "the turnaround will work under good management"? How long will it take before things stabilize? Before they get decent returns on invested capital? This will impact your return tremendously.

This stock price explosion is little more than speculation and a result of a 5-year old extreme bull market, exploded board membership and idolization of permanent investment vehicles and great investors. No offense to anyone. After all, speculation can still make you serious money when done right.


And I still believe it is true. And being honest and thrustworthy and all is nice, but returns are what ultimately matter most. No one is doing this out of charity and neither should you as an investor.

I also feel like the risk here was underappreciated by most. Claiming that's how Berkshire etc started back in the day is just cherry picking those few that succeeded. Most fail horribly. Berkshire was in better condition than PDH at start and dilution to stay afloat was not an issue. Yet Buffett said it was his worst mistake. No bonus points for complicated investments etc...

Regardless, best of luck to all!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on April 12, 2017, 12:21:21 PM
I think people realize this is the opportunity to invest in the next Watsa that is much younger.

I think some people, after over 2.5 years, still haven't realized that this is pure hope and nothing more. To be clear, Parsad is a great and talented investor and chances are he does very well.

This is what I posted 09/2014:

Also I'll say it's rare to get such feedback from management. Sanjeev is candid and lays out his plan. Moreso than from the majority of CEOs out there. This automatically improves the odds because you don't have to discount management or quality of information you receive as an investor. In fact it may warrant a premium IMHO. How many managers out there do you know you can trust?

For all you know you are already paying a very rich premium to fair value. What is your investment basis other than "the turnaround will work under good management"? How long will it take before things stabilize? Before they get decent returns on invested capital? This will impact your return tremendously.

This stock price explosion is little more than speculation and a result of a 5-year old extreme bull market, exploded board membership and idolization of permanent investment vehicles and great investors. No offense to anyone. After all, speculation can still make you serious money when done right.


And I still believe it is true. And being honest and thrustworthy and all is nice, but returns are what ultimately matter most. No one is doing this out of charity and neither should you as an investor.

I also feel like the risk here was underappreciated by most. Claiming that's how Berkshire etc started back in the day is just cherry picking those few that succeeded. Most fail horribly. Berkshire was in better condition than PDH at start and dilution to stay afloat was not an issue. Yet Buffett said it was his worst mistake. No bonus points for complicated investments etc...

Regardless, best of luck to all!

+1

I think there will be enough time to invest in PDH, when results are improving and competency of the management is clear. I know it is harsh, but based on what I see so far, this is still a turnaround In progress and management isn't proven. Being ethical and having value bent is good, but not enough to be successful running a business. Running a business well is very hard, turning around a business is even harder and has very little to do with being good at investing, imo.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on April 12, 2017, 12:34:18 PM
There's also a chance that it just is really highly priced for a long time (assuming it works).  E.g., FRMO trades very high relative to other compounders due to the type of shareholders that are already present here.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 13, 2017, 12:17:17 AM
Would you care to elaborate?  - Is Fairfax or Prem a shareholder of PDH? 

Watsa himself invested with Sanjeev.

Neither.  Fairfax is the largest investor in MPIC Fund I, LP, which is the largest investor in PDH.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on April 13, 2017, 09:10:11 AM
Based on the deteriorating fundamentals of PDH, we see more similarities than differences.  I do not think you can claim PDH is not SHLD until PDH has actually turned around and is growing. 

What I will tell you is that we are not a Sears Holding Company!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: drzola on April 13, 2017, 10:06:25 AM
Can someone answer this question;  the requirements to be an accredited investor in MPIC LP fund 1 ( US )?

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on April 13, 2017, 10:20:19 AM
Can someone answer this question;  the requirements to be an accredited investor in MPIC LP fund 1 ( US )?

If the answer is the same as an accredited investor in the US then you must have either $1M+ in investable assets or an income of $200K+ for the last 2 years (and expect the same for this year).  I don't know if it being a Canadian fund changes things.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: drzola on April 13, 2017, 10:39:18 AM
 Thank You!

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on April 13, 2017, 12:18:36 PM
I think one of the issues with those companies (SYTE, PDH) taken over by value investors is that they are really small and generally cash flow negative. When we compare this the Berkshire, in the mid 60's, well Berkshire was already a $50M revenue company back then 50 years ago, which would be like a $500M company now. This means that Berkshire had way less corporate overhead than PDH or SYTE. Berkshire was a crappy business, but it generally wasn't losing money and tax loss carryover and shrinking working capital means that cash could be extracted from the business.

Getting in at the ground floor is only a good idea if it takes off. I could well I imagine  buying in, when these companies are 10x their current size. Sure, the stock could just go stratospheric and become overvalued, but then there is the possibility that the business improves and the stock does not.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 13, 2017, 01:35:04 PM
Can someone answer this question;  the requirements to be an accredited investor in MPIC LP fund 1 ( US )?

If the answer is the same as an accredited investor in the US then you must have either $1M+ in investable assets or an income of $200K+ for the last 2 years (and expect the same for this year).  I don't know if it being a Canadian fund changes things.
I assume that becoming an investor in MPIC LP fund mean that you have to file foreign ownership with IRS?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on April 13, 2017, 04:21:45 PM
Sanjeev,

When will you post the annual meeting presentation?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: racemize on April 13, 2017, 08:36:25 PM
Can someone answer this question;  the requirements to be an accredited investor in MPIC LP fund 1 ( US )?

If the answer is the same as an accredited investor in the US then you must have either $1M+ in investable assets or an income of $200K+ for the last 2 years (and expect the same for this year).  I don't know if it being a Canadian fund changes things.
I assume that becoming an investor in MPIC LP fund mean that you have to file foreign ownership with IRS?

I think he has a U.S. entity, so it wouldn't be foreign.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 14, 2017, 02:46:00 AM
Can someone answer this question;  the requirements to be an accredited investor in MPIC LP fund 1 ( US )?

If the answer is the same as an accredited investor in the US then you must have either $1M+ in investable assets or an income of $200K+ for the last 2 years (and expect the same for this year).  I don't know if it being a Canadian fund changes things.
I assume that becoming an investor in MPIC LP fund mean that you have to file foreign ownership with IRS?

I think he has a U.S. entity, so it wouldn't be foreign.

Correct.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 14, 2017, 02:54:38 AM
Based on the deteriorating fundamentals of PDH, we see more similarities than differences.  I do not think you can claim PDH is not SHLD until PDH has actually turned around and is growing. 

What I will tell you is that we are not a Sears Holding Company!  Cheers!

What deteriorating fundamentals are you referring to? 

- We have no large pension liability. 
- Our businesses are headed towards cash flow positive positions rather than increasing losses when you back out the capital being spent on Sequant Re. 
- We have little in other liabilities. 
- We have a healthy and positive quick ratio compared to Sears. 
- We have other investments that are liquid or will be making large distributions over the next two years. 
- We have positive equity. 
- The intrinsic value of our Burnaby clinic business isn't even accounted for in our books under IFRS.

You are incorrect in your comment about similarities.  You are correct about proving that we are different...the proof is in the pudding for any business...not just PDH.  Cheers! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on April 14, 2017, 09:14:02 AM

- Our businesses are headed towards cash flow positive positions rather than increasing losses when you back out the capital being spent on Sequant Re. 
 

Do you plan to time-box (or better yet $-box) SequentRe's investment?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 14, 2017, 12:09:15 PM
Wondering why everyone's expectations of Sequant Re becoming a fully operational self supporting business is so much faster then mine.  The company started from 0 and on top of that it is in the insurance industry, that tends to move a lot slower then other industries.  Maybe it's just my background working on the marketing side of insurance and banking.  Things tend to move a lot slower inside organizations then some of your expectations.  Two years is really not much time at all for a new product in the insurance industry, at least from what I have seen in regards to how fast we move to innovation on the insurance side of the house. 

I get the feeling that some of y'all expect this business to pick up along the lines of adoption of some fast paced web app.  It just does not work that way.  The way I am comparing it is to more of an Ebix model.  Where you have small operating income until you have a track record.  Then as the bigger boys come on, business will increase very fast as not only the initial big target but also all the smaller companies that support the big target.  Two years is really no time at all for Sequant Re.  Especially when you consider the time it would take internally (within the big company) to adopt this technology.

As far as limiting the investment in Sequant Re, in my view this would not be wise.  Currently I believe we own 44% of the company.  Not only would stoping the investment put a strain on a company that is basically an infant, it would also make it more expensive down the line to purchase the company outright.  (Have a feeling this is the goal if it becomes successful). 

My personal belief is not to judge anything regarding Sequant Re until after 5 years of operation.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on April 14, 2017, 02:03:33 PM
Did anyone attend the annual meeting?  Would really like to see some notes if anyone took any. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 14, 2017, 04:29:51 PM
Did anyone attend the annual meeting?  Would really like to see some notes if anyone took any.

We had about 20 people attend, not including the proxy scrutineers...12 were shareholders and 8 were directors, staff, management.  There were at least 4 shareholders who are members here that attended...not including yours truly. 

The powerpoint will be on the website later this evening.  I can't speak for the shareholders, but my impression was that virtually all left feeling better about where the company is headed...including both long-term and more recent shareholders.  What I can say with certainty is that company morale is in a very good place in terms of goals, opportunities and prospects for PDH's future.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: RichardGibbons on April 28, 2017, 12:27:44 AM
Hey Sanjeev, in the HCG.to thread, you say the following about the Vancouver housing market:

Quote
But I suspect when this thing blows, it will be a much larger bubble than if they had pricked it a few years ago.  Now it could prove to be quite painful for institutions and especially the average consumer!

This seems to imply that you believe that the Vancouver housing market is in a bubble, yet Premier has been investing in Vancouver real estate (which has been a correct decision based on price appreciation to date). 

What's your reasoning here?  That the prices you're doing these deals at have such a large margin of safety that it doesn't matter if Vancouver real estate collapses while Premier is financing these developments?  That Premier will get out before the bubble pops?

I've been curious about that investment for months, so I was wondering if you could explain the apparent incongruity between believing in the bubble, but still investing in Vancouver real estate.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on April 28, 2017, 01:28:31 AM
Hey Sanjeev, in the HCG.to thread, you say the following about the Vancouver housing market:

Quote
But I suspect when this thing blows, it will be a much larger bubble than if they had pricked it a few years ago.  Now it could prove to be quite painful for institutions and especially the average consumer!

This seems to imply that you believe that the Vancouver housing market is in a bubble, yet Premier has been investing in Vancouver real estate (which has been a correct decision based on price appreciation to date). 

What's your reasoning here?  That the prices you're doing these deals at have such a large margin of safety that it doesn't matter if Vancouver real estate collapses while Premier is financing these developments?  That Premier will get out before the bubble pops?

I've been curious about that investment for months, so I was wondering if you could explain the apparent incongruity between believing in the bubble, but still investing in Vancouver real estate.

The Kingswood projects we are in are on the lower end...townhouses between $650K to $850K.  There is an enormous lack of supply in the townhouse market, unlike condos and detached homes over $1.5M.  So while the townhouse sector would take a hit, it would not be affected like the condo market or detached home market.  These projects will also soon be going to presales, and we have no other real estate projects planned. 

The main pain will be in all of these HELOCs with their variable rates...secured and unsecured...and the sudden increase in financing costs that the consumer will face.  The average consumer does not even have enough in liquid assets to survive for more than a month if they lose their job.  There will be no way they could support higher finance charges if rates moved up 2-3%.  With increased consumer/auto loans and higher credit card balances, combined with their HELOCs, any economic recession or sharp increase in interest rates will impact the consumer's ability to service their debt load. 

To put it as bluntly as I can, I don't think I've seen Canadian balance sheets this leveraged since the 1981 crash in real estate.
 Interest rates increased to 18% back then from about 6-7%.  We're at 2% and these balance sheets are stretched and barely serviceable.  What happens if rates move just to average historical rates...4-5%?  What if Canada faces hyperinflation because it has to support the Canadian dollar and interest rates move to 10%?  Few people think about these things because they always seem so remote...until they happen!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: petec on April 28, 2017, 02:45:07 AM

To put it as bluntly as I can, I don't think I've seen Canadian balance sheets this leveraged since the 1981 crash in real estate.  Interest rates increased to 18% back then from about 6-7%.  We're at 2% and these balance sheets are stretched and barely serviceable.  What happens if rates move just to average historical rates...4-5%?  What if Canada faces hyperinflation because it has to support the Canadian dollar and interest rates move to 10%?  Few people think about these things because they always seem so remote...until they happen!  Cheers!

Most of the world looks like this at some level today.   UK mortgages, for example, are almost 100% floating rate, and mortgage debt is huuuge.   There are only two possible ways out, short of a depression: vast productivity growth (not looking very likely) or inflation.   What will be very interesting to see is whether central banks adhere to their inflation targets or allow it to rise without doing much to rates.   
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on April 28, 2017, 03:50:59 AM


Most of the world looks like this at some level today.   UK mortgages, for example, are almost 100% floating rate, and mortgage debt is huuuge.   There are only two possible ways out, short of a depression: vast productivity growth (not looking very likely) or inflation.   What will be very interesting to see is whether central banks adhere to their inflation targets or allow it to rise without doing much to rates.

The fact that most of the world looks like that, does not really make the situation any better. You can't justify a bubble without similar bubble somewhere else. Something gotta give at some point and it won't be pretty. FWIW compared to Canada, housing in the US appears to be quite reasonably valued.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: petec on April 28, 2017, 04:18:10 AM
I wasn't justifying it.   It's more that the situation looks all too familiar.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: RichardGibbons on April 28, 2017, 09:15:42 AM
The Kingswood projects we are in are on the lower end...townhouses between $650K to $850K.  There is an enormous lack of supply in the townhouse market, unlike condos and detached homes over $1.5M.  So while the townhouse sector would take a hit, it would not be affected like the condo market or detached home market.  These projects will also soon be going to presales, and we have no other real estate projects planned. 

Ah, I understand your reasoning.  Thanks, Sanjeev.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on April 28, 2017, 10:47:58 AM
The Kingswood projects we are in are on the lower end...townhouses between $650K to $850K.  There is an enormous lack of supply in the townhouse market, unlike condos and detached homes over $1.5M.  So while the townhouse sector would take a hit, it would not be affected like the condo market or detached home market.  These projects will also soon be going to presales, and we have no other real estate projects planned. 

Ah, I understand your reasoning.  Thanks, Sanjeev.

I understand it as well, but it still sounds risky to me.  Even a deal like this would lose money if the bubble popped at the wrong time.  The high end is going to take down everything under it when it falls.  Things always overcorrect at first.  It just seems like trying to make an easy profit on the expanding bubble in an area that won't pop quite as badly when it does.  I sure hope PDH doesn't do any more Canadian real estate investments, at least until after the bubble does pop.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on May 04, 2017, 01:54:04 PM
Did the powerpoint get posted yet?  I’ve looked for it and can’t find it.  Although it’s very possible I’m not looking in the right place.  Can somebody provide a link?  Thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: lschmidt on May 04, 2017, 01:59:21 PM
http://www.pdh-inc.com/investors.html

Click on "2017 AGM Presentation"
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on May 04, 2017, 05:05:46 PM
Thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on May 11, 2017, 10:41:09 AM
It seems like we are getting into the custom cabinet and skin cancer treatment business.   

"The Issuer's management incorporated a new partially owned subsidiary, Greenway Millworks Inc., which will be a custom-made cabinetry company. "

"The Issuer’s wholly-owned subsidiary, Premier Diagnostic Center (Vancouver) Inc. entered into a non-binding letter of intent with a German company to acquire Canadian rights to provide a certain
skin cancer treatment."

http://thecse.com/sites/default/files/PDH_-_CSE_Form_7_-_Monthly_Report_April_2017_FINAL.pdf
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rjstc on May 13, 2017, 04:35:40 PM
It seems like we are getting into the custom cabinet and skin cancer treatment business.   

"The Issuer's management incorporated a new partially owned subsidiary, Greenway Millworks Inc., which will be a custom-made cabinetry company. "

"The Issuer’s wholly-owned subsidiary, Premier Diagnostic Center (Vancouver) Inc. entered into a non-binding letter of intent with a German company to acquire Canadian rights to provide a certain
skin cancer treatment."

http://thecse.com/sites/default/files/PDH_-_CSE_Form_7_-_Monthly_Report_April_2017_FINAL.pdf

I'd be interested to know where you found this information if you don't mind. I am a stockholder and don't remember seeing this before. Thanks
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: MarioP on May 13, 2017, 06:12:47 PM
It's in the report linked. Paragraph 1 for the cabinet maker and 5 for cancer treatment.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rjstc on May 15, 2017, 12:40:43 AM
It's in the report linked. Paragraph 1 for the cabinet maker and 5 for cancer treatment.

My question was where did you get the form 7 monthly progress report? I have never seen that before. I would like to be able to see this on a monthly basis. Thanks
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: jimjam on May 15, 2017, 01:56:08 AM
rjstc: Look at:

http://thecse.com/en/listings/diversified-industries/premier-diversified-holdings-inc

In the right hand column there is a box "CSE Filings" (you may have to scroll down). Click "View All" to see all the monthlies.

Cheers.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rjstc on May 16, 2017, 09:32:22 AM
rjstc: Look at:

http://thecse.com/en/listings/diversified-industries/premier-diversified-holdings-inc

In the right hand column there is a box "CSE Filings" (you may have to scroll down). Click "View All" to see all the monthlies.

Cheers.

Perfect. Thanks much. Ron
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on May 27, 2017, 11:02:43 AM
Quote
Half of incumbent insurance companies expect to lose 20% of their business to disruptive startups within five years, PwC survey finds

https://twitter.com/WhatILearnedTW/status/868517206165831680
Title: Re: PDH - Premier Diagnostic Health Services
Post by: CONeal on May 27, 2017, 06:23:53 PM
I'll give you the simplest explanation, but as you know, nothing is necessarily as simple as it sounds! 

ILS, or insurance-linked securities, are essentially securitized products based on underlying insurance contracts.  Unlike normal reinsurance companies, that use a significant amount of asset to equity leverage and other reinsurance products to offset risk, insurance-linked securities are fully-collateralized...thus the brokerage has very little...virtually no...insurance risk. 

Where the brokerage makes money is by taking a percentage of the gross premiums as an underwriting fee and on any gain in the underlying capital collateralizing the insurance risk.  The downside to ILS is the lack of use of leverage and float, but the upside is no exposure to underwriting risk and unlimited capacity to underwrite risk. 

That being said, as an ILS brokerage builds its book of contracts, and generates significant annual income, it can set up another insurance subsidiary that is fully-capitalized by its retained earnings, that could eventually underwrite reinsurance risk directly like any other reinsurer.  Thus benefiting from asset to equity leverage and the long-term benefits of insurance float. 

Again, it's a lot more complex than this, especially what SequantRe is trying to do, but this simplifies it a bit.  Hope it helped!  Cheers!

I apologise in advance if im being completely dumb about this. Also I have not read anything about SequantRe and the comments below are not about SequantRe but just ILS, or insurance-linked securities in general.

To me this seems very similar to banks making loans and then passing them off to Fannie/Freddie and keeping a fee. The more loans banks made the more money they made and they didn't keep the risk.

This seems similar but with insurance. Since the people writing the insurance have keep no risk, how do one make sure of the quality of the insurance that is written? The motivation for an ILS company seems to be to write as many contracts as possible to maximize profits.  ILS companies would have to write more contracts the lower insurance rates got. But if an insurance company is not getting the premiums to cover the risk it should be writing less insurance?

The way SequantRe is structured, is that it gets a percentage of the profits from any investment gain from the underlying collateralized capital.  That only happens two ways...good investments and good underwriting.  If you have poor underwriting, that can easily wipe out any investment gains.  Thus we are incentivized to make good underwriting decisions.  Cheers!

Been thinking about SequantRe the last couple of days since I've been trying to learn about the whole blockchain technology and smart contracts.  Still have the understanding of the technology of about a 1st grader so bear with me. 

My understanding is blockchain technology would be ideal for managing derivative contracts between two parties.  Since SequantRe is creating ILS, will it be trying to use smart contracts when a chuck of securities are split up and sold to investors?  My thinking, there would need to be some way to tie everything back together.

 An example would be, insurance policy is written to cover tornado damage in Atlanta, Ga.  The ILS is created and split into different groups that are sold off to investors.  Two years later a tornado come through and wipes out Atlanta.  How would the different grouping (exposure to Atlanta security 1 25% security 2 75%) of the policy be matched back together?  If I am way off the mark just say so in how it actually works.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on May 31, 2017, 04:38:57 PM
6 month financials ending March 31st is out

http://thecse.com/en/listings/diversified-industries/premier-diversified-holdings-inc

Scroll down to CSE fillings on that page (it's the easiest way without trying to navigate Sedar)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on May 31, 2017, 06:20:22 PM
will Sequant Re ever make any money??
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on May 31, 2017, 08:55:47 PM
Sequant Re is an option.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on May 31, 2017, 10:03:54 PM
Sequant Re is an option.
PDH invested much more money in Sequant Re after the initial offering so that I tend to hope that this is more than an option now...  :-[
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on May 31, 2017, 10:39:57 PM
Sequant Re is an option.
PDH invested much more money in Sequant Re after the initial offering so that I tend to hope that this is more than an option now...  :-[

This is my biggest concern on PDH's operation so far -- i'm worried that this becomes 'sunk cost' that keeps sucking money out of PDH
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on June 01, 2017, 10:12:00 AM
Congrats to Alnesh on another board seat.

http://www.investorx.ca/Doc/U3TPHKKT1DB/2017/05/26/lottogopher-holdings-inc/material-change-report-english

Any ideas whether this will end up a PDH or Corner Market holding? Filings indicate its just 20% of his time as CFO/director, so maybe its not PDH related at all.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on June 01, 2017, 05:11:12 PM

Any ideas whether this will end up a PDH or Corner Market holding? Filings indicate its just 20% of his time as CFO/director, so maybe its not PDH related at all.

Hope it doesn't turn into a PDH holding.  While on the surface it looks like a clever idea, the chance of being run out of business via the lottery commission (in a particular state) is very high.  Several states already allow you to purchase lottery tickets online directly from the lottery state. 

Unless maybe the angle is to sell the software to the lottery state that allows all the numbers and payouts to work seemlessly. doing that would probably cut down on the development time/expense for a system to be built from the ground up.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wescobrk on June 01, 2017, 05:33:04 PM
it has 64 million shares o/s along with another 8 million warrants and 4 million options.
So, unless I'm missing something, the market cap is about 40 million and it has less then 4 million in shareholder equity and pretty much zero revenue (galaxy has almost zero revenue as well)
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on June 01, 2017, 06:24:38 PM

Any ideas whether this will end up a PDH or Corner Market holding? Filings indicate its just 20% of his time as CFO/director, so maybe its not PDH related at all.

Hope it doesn't turn into a PDH holding.  While on the surface it looks like a clever idea, the chance of being run out of business via the lottery commission (in a particular state) is very high.  Several states already allow you to purchase lottery tickets online directly from the lottery state. 

Unless maybe the angle is to sell the software to the lottery state that allows all the numbers and payouts to work seemlessly. doing that would probably cut down on the development time/expense for a system to be built from the ground up.

LOL!  Don't worry, it has nothing to do with PDH, nor are we looking at investing or acquiring it.  It is one of Alnesh's clients through his firm Quantum Advisory Partners LLP. 

The lottery business in my opinion, not unlike Buffett's past comments, is one of the biggest scams the government pulls on its own citizens.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on June 19, 2017, 11:15:55 PM
Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 2,842,105 Shares at $0.095 per Share for aggregate gross proceeds of
up to $270,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about June 20, 2017. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund the acquisition of an interest in Sequant
Reinsurance Holdings Ltd., a Bermuda-based reinsurance company, and for general working
capital.

A little more dilution at 0.095/share. Almost half the initial offering price. And this is for more Sequant Re. I really wish Sanjeev has protected the downside here...
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Sunrider on June 19, 2017, 11:24:07 PM
Yeah Sanj, come on man. It really sucks seeing dilution at half the price many of us bought in - can't you go and find some other people to buy it at similarly high prices or get the sequent re guys to put their own money right behind their sexy pitch that hasn't worked out so far?



Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 2,842,105 Shares at $0.095 per Share for aggregate gross proceeds of
up to $270,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about June 20, 2017. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund the acquisition of an interest in Sequant
Reinsurance Holdings Ltd., a Bermuda-based reinsurance company, and for general working
capital.

A little more dilution at 0.095/share. Almost half the initial offering price. And this is for more Sequant Re. I really wish Sanjeev has protected the downside here...
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on June 19, 2017, 11:39:24 PM
Yeah Sanj, come on man. It really sucks seeing dilution at half the price many of us bought in - can't you go and find some other people to buy it at similarly high prices or get the sequent re guys to put their own money right behind their sexy pitch that hasn't worked out so far?



Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 2,842,105 Shares at $0.095 per Share for aggregate gross proceeds of
up to $270,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about June 20, 2017. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund the acquisition of an interest in Sequant
Reinsurance Holdings Ltd., a Bermuda-based reinsurance company, and for general working
capital.

A little more dilution at 0.095/share. Almost half the initial offering price. And this is for more Sequant Re. I really wish Sanjeev has protected the downside here...
+1 -- I am really worried that this has become a 'sunken cost' for us, and we'll keep on diluting and never see a dime returned from the Sequant guys ....
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on June 20, 2017, 06:21:08 AM
 I am not expert here, but in my opinion, these small public investment holding companies like PDH and SYTE just have way to high fixed cost relative be to their assets to be viable. In additional, the C-corporations structure is not that tax efficient either, at least at that stage.

I don't think that there is a margin of safety in those stocks, they are more like moonshots and should be treated as such.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on June 20, 2017, 03:52:16 PM
Yeah Sanj, come on man. It really sucks seeing dilution at half the price many of us bought in - can't you go and find some other people to buy it at similarly high prices or get the sequent re guys to put their own money right behind their sexy pitch that hasn't worked out so far?



Premier Diversified Holdings Inc. ("Premier" or the "Company") (CSE: PDH) is pleased to
announce a non-brokered private placement offering (the "Offering") of common shares of the
Company ("Shares") of up to 2,842,105 Shares at $0.095 per Share for aggregate gross proceeds of
up to $270,000.
There is no minimum Offering amount required to close, and the Offering may be closed in
tranches. The first closing is expected to occur on or about June 20, 2017. The Shares will be issued
in reliance on exemptions from the prospectus and registration requirements contained in the
securities legislation in the Province of British Columbia and in the jurisdiction of residency of
each investor. The Shares will be subject to a hold period. No finder's fees or commissions will be
paid in connection with the Offering. The Offering is subject to approval by the Canadian
Securities Exchange.
The net proceeds of the Offering will be used to fund the acquisition of an interest in Sequant
Reinsurance Holdings Ltd., a Bermuda-based reinsurance company, and for general working
capital.

A little more dilution at 0.095/share. Almost half the initial offering price. And this is for more Sequant Re. I really wish Sanjeev has protected the downside here...

People must be unhappy about this -- the price today was lower than that of the private placement :(
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Foreign Tuffett on June 20, 2017, 08:09:45 PM
I am not expert here, but in my opinion, these small public investment holding companies like PDH and SYTE just have way to high fixed cost relative be to their assets to be viable. In additional, the C-corporations structure is not that tax efficient either, at least at that stage.

I don't think that there is a margin of safety in those stocks, they are more like moonshots and should be treated as such.

+1
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on June 21, 2017, 06:22:52 AM
In the corporate world, free cash flow is key to independance. PDH is more like a startup and live more on less on faith. More faith, dilution for a better price. Less faith, dilution for a lower price. Yes, we need to water the project...as long as it is very rational to believe that it will feed us with it's fruits before it's too late.

You have to trust the jockey here.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Crip1 on June 21, 2017, 07:01:26 AM
In the corporate world, free cash flow is key to independence. PDH is more like a startup and live more on less on faith. More faith, dilution for a better price. Less faith, dilution for a lower price. Yes, we need to water the project...as long as it is very rational to believe that it will feed us with it's fruits before it's too late.

You have to trust the jockey here.


Agreed in full, I see this as a Jockey stock.


-Crip
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on June 21, 2017, 01:04:55 PM
And the more solid the balance sheet will be, the less a jockey stock it will looks like. Same thing with free cash flow.

Cheers!

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on June 21, 2017, 02:04:03 PM
I am not expert here, but in my opinion, these small public investment holding companies like PDH and SYTE just have way to high fixed cost relative be to their assets to be viable. In additional, the C-corporations structure is not that tax efficient either, at least at that stage.

I don't think that there is a margin of safety in those stocks, they are more like moonshots and should be treated as such.
Agree totally.

In the past, I used to really relish going through the list of stocks that have a market cap of under $10m and buying up a lot of "value". Nowadays, I am far more circumspect for the reason you give. The smallest market cap stock I now own is £15m and I only own it because it's got a long term record of producing free cash flow.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on June 21, 2017, 05:22:48 PM
Not sure if the math is correct.  Think we now own 46.21% of SequantRe. 

As a term that 76er fans are accustomed too.  "Trust the process"
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on June 22, 2017, 11:49:36 PM
Not sure if the math is correct.  Think we now own 46.21% of SequantRe. 

As a term that 76er fans are accustomed too.  "Trust the process"
From the press release:
"Following this acquisition, Premier holds a total of 6,126,000 common shares of SRHL,
approximately 46.60% of the issued and outstanding shares of SRHL (45.13% fully diluted), all of
which are held indirectly through Premier Bermuda."
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on July 05, 2017, 12:26:20 PM
Dennis Tusar seems to be selling lots of stocks lately:
https://www.momentousnews.com/2017/07/05/premier-diversifie-tsepdh-insider-sells-c11000-00-in-stock/
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on July 05, 2017, 12:32:19 PM
Dennis Tusar seems to be selling lots of stocks lately:
https://www.momentousnews.com/2017/07/05/premier-diversifie-tsepdh-insider-sells-c11000-00-in-stock/

FYI...Denis is the former CEO from over 2 years ago.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: goldfinger on July 05, 2017, 12:49:50 PM
Dennis Tusar seems to be selling lots of stocks lately:
https://www.momentousnews.com/2017/07/05/premier-diversifie-tsepdh-insider-sells-c11000-00-in-stock/

FYI...Denis is the former CEO from over 2 years ago.  Cheers!

Thanks Sanjeev, I know... I am kind of amazed by the volatility in this stock that's supposed to be held by more patient investors. Probably previous personnel that caused most of the downside on low volumes over the last year... Denis seems to have gone out massively today though...
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on July 05, 2017, 01:22:20 PM
Dennis Tusar seems to be selling lots of stocks lately:
https://www.momentousnews.com/2017/07/05/premier-diversifie-tsepdh-insider-sells-c11000-00-in-stock/

FYI...Denis is the former CEO from over 2 years ago.  Cheers!

Thanks Sanjeev, I know... I am kind of amazed by the volatility in this stock that's supposed to be held by more patient investors. Probably previous personnel that caused most of the downside on low volumes over the last year... Denis seems to have gone out massively today though...

Between Denis and our China GM, both really former employees of the company...they have/had about 11,000,000 shares...so much of the selling pressure is coming from those employees.  Our former attorney, RNLLP, was responsible for much of the selling as well the last year.  All selling for personal reasons, mostly related to their departure. 

Shareholders should worry when Alnesh or I sell shares...or our director Andrew Cooke.  We have not and will not.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: TwoCitiesCapital on July 05, 2017, 01:38:58 PM
Dennis Tusar seems to be selling lots of stocks lately:
https://www.momentousnews.com/2017/07/05/premier-diversifie-tsepdh-insider-sells-c11000-00-in-stock/

FYI...Denis is the former CEO from over 2 years ago.  Cheers!

Thanks Sanjeev, I know... I am kind of amazed by the volatility in this stock that's supposed to be held by more patient investors. Probably previous personnel that caused most of the downside on low volumes over the last year... Denis seems to have gone out massively today though...

Prices are set by the marginal buyer/seller. If everyone is a long-term holder with few willing buyers/sellers, you'd expect volatility to above-average between each trade. This may lower volatility over time if shares go days without trading, but as long as there are few trading participants, you'll see a wider bid/ask, more volatility between trades, and an elevated overall vol if it trades daily.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on August 09, 2017, 12:30:44 PM
Hi Folks,

Some of you may see a SEDI filing that shows MPIC Canadian LP selling some PDH shares.  That is because we are closing the Canadian Fund and liquidating some of the PDH shares over time. 

Let me make something clear...Alnesh and I are not selling any PDH shares!  We will be taking at least 80% of our investments in the Canadian fund as PDH shares, and a few other partners are taking significant PDH shares.  But we are liquidating some of the shares for the remaining partners.

Here is also an excerpt from the annual report for the Canadian fund, sent to our partners a couple of months ago, that discusses why we are closing that fund:

Over the last 9.5 years since we launched the Canadian fund, through bull market, financial crisis, sideways market, fluctuating currencies and political turmoil, we have managed only half of our mandate…to avoid permanent loss of capital.  We have failed in the other half of our mandate…to grow investment capital at an above average rate.

Essentially, our partners have done marginally better than a 1-year GIC over 9.5 years…not acceptable!  We as investment managers, have added no value to performance, that our partners could have easily surpassed by simply investing in an index fund.

We are not alone in this, but almost 90% of investment managers have not surpassed their respective index over the last decade, as we have seen an enormous bull-market since the end of the financial crisis.  But if that were the only reason, then why has the performance between our Canadian and U.S. Fund been so glaringly disparate?

We believe there are some fundamental flaws in the Canadian Fund that do not exist in the U.S. Fund.  These include:

- Assets Under Management - It has been excruciatingly difficult for us to raise non-RRSP/TFSA capital in Canada.
- Operational Expenses - Our audit, legal, tax, filing costs are the same in Canada and the U.S., but the asset base is over 10 times smaller in Canada…thus a disproportionate amount of costs are being carried by partners.
- Inability to Use Options – A large part of our U.S. Fund strategy is the occasional use of call options, which have made a significant impact on our results…we cannot buy call options in Canada without using a margin account.
- Turnover of Partners – Our US Fund partners seem to remain partners significantly longer than our Canadian Fund partners.
- Liquidity – It was the departure of our largest partner in 2015 that impacted results so severely, as liquidity in the fund dried up rapidly…we were stuck with very large positions in Premier Diversified Holdings, Russell Breweries, Rainmaker and SED International.

We spent the better part of 2016 eliminating Rainmaker after it converted to WOW! Media, as well as other assets to restore some liquidity to the fund…that has at least put the fund in a much better position.

But ultimately, assets under management, operating expenses and the inability to use options are inherent flaws that we cannot change.  As such, we have made the necessary, but uncomfortable decision of closing the Canadian Fund and liquidating the assets over the next few months.  We did not come to this decision lightly…we would be doing a disservice to our partners to try and muddle through a structure that is not in their best long-term interests…and is clearly evident from nearly 10 years of data.

Fortunately, all of our partners except one recent addition are above water.  Alnesh and I will make that one partner whole with our own capital.  Also, Corner Market Management will take almost all of its capital in Premier Diversified Holdings (PDH) shares.


The U.S. Fund is over 15 times bigger and we have no plans on ever closing it.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on August 09, 2017, 09:50:48 PM
Parsad,
Are Canadians permitted to invest in the US fund? My current letter recommendation to my executor has a position with you guys as one of the suggestions for when I'm no longer around to manage my own money, so if that's not possible anymore I'll update the document.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: John Hjorth on August 10, 2017, 08:47:31 AM
Without being involved, I just have to say: Deep respect for your post of yesterday in this topic, Sanjeev.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on August 21, 2017, 09:54:08 AM
Anybody who holds this at Schwab notice they changed the holding from PRDGF to a cusip?  There is no detail for the holding and won’t accept any trades for an unknown ticker.  Just curious if anybody has noticed this or knows what’s going on with it at Schwab.  TIA.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: JayGatsby on August 21, 2017, 11:41:57 AM
Anybody who holds this at Schwab notice they changed the holding from PRDGF to a cusip?  There is no detail for the holding and won’t accept any trades for an unknown ticker.  Just curious if anybody has noticed this or knows what’s going on with it at Schwab.  TIA.
You may need to call their global trading desk for a trade: 800-992-4685.  I had to do that for a spinoff share that was listed on a stock exchange where they don't have direct trading. They outsource these trades to a local partner. Execution was fine, it just took a quick phone call (and more commission).
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: frog03 on August 21, 2017, 12:53:00 PM
Parsad, has the US fund bested the indexes then?

Doing better than the indices by a meaninfgul amount is not easy.  For a few Mecham, Turtle Creek, etc, there are tons of professional money managers doing worse than the index...

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Liberty on August 21, 2017, 01:21:53 PM
Without being involved, I just have to say: Deep respect for your post of yesterday in this topic, Sanjeev.

I second this.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: investmd on August 22, 2017, 06:06:51 AM
New to PDH. Have gone through the pages of postings over the past 3 years and read the 2016 annual report.
See that it contains insurance business, real estate investments, private medical investments (GoEVisit and Burnaby PET CT clinic) and potential for purchasing wholly owned businesses. This is with a current market cap of approx C$12-13M. Had sustainability issues in 2014 and past 3 years has been a turnaround process - most of it successful. Future may be very bright.

About 3 years ago, Pabrai launched Dhandho funds with a similar goal of being a holding company able to own an insurance business, and own different asset classes outside of the equity market. Recently, Pabrai indicated that the theory behind Dhandho was flawed and he is looking to find a good exit.
Reasons given included:
1)govt regulations with insurance business are v cumbersome
2)Hard to find good businesses to buy at attractive valuations. In the stock market, able to identify mispriced equities - selling for far less than they are worth - can't do that when buying well run private businesses.

My question: What are the factors that might allow PDH to succeed whereas Dhandho didn't?
Realize that I'm new to this and many people following this thread have been involved for a long time. Appreciate the thoughts.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on August 22, 2017, 06:18:26 AM
New to PDH. Have gone through the pages of postings over the past 3 years and read the 2016 annual report.
See that it contains insurance business, real estate investments, private medical investments (GoEVisit and Burnaby PET CT clinic) and potential for purchasing wholly owned businesses. This is with a current market cap of approx C$12-13M. Had sustainability issues in 2014 and past 3 years has been a turnaround process - most of it successful. Future may be very bright.

About 3 years ago, Pabrai launched Dhandho funds with a similar goal of being a holding company able to own an insurance business, and own different asset classes outside of the equity market. Recently, Pabrai indicated that the theory behind Dhandho was flawed and he is looking to find a good exit.
Reasons given included:
1)govt regulations with insurance business are v cumbersome
2)Hard to find good businesses to buy at attractive valuations. In the stock market, able to identify mispriced equities - selling for far less than they are worth - can't do that when buying well run private businesses.

My question: What are the factors that might allow PDH to succeed whereas Dhandho didn't?
Realize that I'm new to this and many people following this thread have been involved for a long time. Appreciate the thoughts.


Quickly off the top of my head on your item 2: I don't think PDH isn't trying to be only a holding company.  If I understand it correctly it will own stock in public companies if that is the best place it can find to invest.  So if PDH finds that identifying mispriced equities is easier than finding well run private companies then that is what it will do. If it can find well run private companies to buy, then that is what it will do.  I think it will probably end up doing some mix of both.  Certainly it is easier for a smaller company with limited assets to buy fractions of public companies than it is to purchase whole companies (public or private) outright. So I suspect PDH's investments will be somewhat weighted towards purchasing equities over whole companies until it is larger.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: StevieV on August 22, 2017, 07:31:26 AM
New to PDH. Have gone through the pages of postings over the past 3 years and read the 2016 annual report.
See that it contains insurance business, real estate investments, private medical investments (GoEVisit and Burnaby PET CT clinic) and potential for purchasing wholly owned businesses. This is with a current market cap of approx C$12-13M. Had sustainability issues in 2014 and past 3 years has been a turnaround process - most of it successful. Future may be very bright.

About 3 years ago, Pabrai launched Dhandho funds with a similar goal of being a holding company able to own an insurance business, and own different asset classes outside of the equity market. Recently, Pabrai indicated that the theory behind Dhandho was flawed and he is looking to find a good exit.
Reasons given included:
1)govt regulations with insurance business are v cumbersome
2)Hard to find good businesses to buy at attractive valuations. In the stock market, able to identify mispriced equities - selling for far less than they are worth - can't do that when buying well run private businesses.

My question: What are the factors that might allow PDH to succeed whereas Dhandho didn't?
Realize that I'm new to this and many people following this thread have been involved for a long time. Appreciate the thoughts.


Quickly off the top of my head on your item 2: I don't think PDH isn't trying to be only a holding company.  If I understand it correctly it will own stock in public companies if that is the best place it can find to invest.  So if PDH finds that identifying mispriced equities is easier than finding well run private companies then that is what it will do. If it can find well run private companies to buy, then that is what it will do.  I think it will probably end up doing some mix of both.  Certainly it is easier for a smaller company with limited assets to buy fractions of public companies than it is to purchase whole companies (public or private) outright. So I suspect PDH's investments will be somewhat weighted towards purchasing equities over whole companies until it is larger.

Any suggestions on the best brokerage or method for accumulating shares?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on August 22, 2017, 07:50:01 AM
I used Fidelity to buy PRDGF, but there is a $50 fee per trade because of the exchange that it is on.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on August 24, 2017, 08:16:36 AM
Q3 2017 MD&A released. Sequent Re continued to burn cash and still no revenue.  Sanjeev, is there a point we are going to cut ones's losses?

I also thought we are shutting down the Chinese operations and liquidating the business, are you changing directions? 

http://thecse.com/sites/default/files/Premier_-_MDA_Q317_-_FINAL.PDF
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gary17 on August 24, 2017, 08:41:04 AM
I'm surprised Sanjeev's lawyer is okay with a wording like this in the MD&A


Quote
In accordance with the Company’s Investment Policy (available on www.sedar.com), one-third of cash assets were
set aside in an investment account with ScotiaMcLeod shortly after the 2015 Annual General Meeting. The CEO of
the Company, Sanjeev Parsad, has full discretion to allocate this capital into public market securities to generate
the maximum return for shareholders of the Company.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on September 01, 2017, 01:55:48 PM
Q3 2017 MD&A released. Sequent Re continued to burn cash and still no revenue.  Sanjeev, is there a point we are going to cut ones's losses?

I also thought we are shutting down the Chinese operations and liquidating the business, are you changing directions? 

http://thecse.com/sites/default/files/Premier_-_MDA_Q317_-_FINAL.PDF

I think Sequant Re is being counted on to be the engine that runs Premier.  The cash generating piece that allows Sanjeev to do his thing.

Without Sequant Re, there is no Premier.  What says you Sanjeev?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on September 01, 2017, 02:09:21 PM
No.  Sequent re was supposed to be an option as we bought into the medical clinics and Sanjeev's ability to allocate capital.  Sequant re has become much more than an option as Premier depends on its success since it continues to burn through cash causing dilution to shareholders of PDH.  Not impressed at all.

Q3 2017 MD&A released. Sequent Re continued to burn cash and still no revenue.  Sanjeev, is there a point we are going to cut ones's losses?

I also thought we are shutting down the Chinese operations and liquidating the business, are you changing directions? 

http://thecse.com/sites/default/files/Premier_-_MDA_Q317_-_FINAL.PDF

I think Sequant Re is being counted on to be the engine that runs Premier.  The cash generating piece that allows Sanjeev to do his thing.

Without Sequant Re, there is no Premier.  What says you Sanjeev?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Value^2 on September 02, 2017, 09:38:05 AM
New to PDH. Have gone through the pages of postings over the past 3 years and read the 2016 annual report.
See that it contains insurance business, real estate investments, private medical investments (GoEVisit and Burnaby PET CT clinic) and potential for purchasing wholly owned businesses. This is with a current market cap of approx C$12-13M. Had sustainability issues in 2014 and past 3 years has been a turnaround process - most of it successful. Future may be very bright.

About 3 years ago, Pabrai launched Dhandho funds with a similar goal of being a holding company able to own an insurance business, and own different asset classes outside of the equity market. Recently, Pabrai indicated that the theory behind Dhandho was flawed and he is looking to find a good exit.
Reasons given included:
1)govt regulations with insurance business are v cumbersome
2)Hard to find good businesses to buy at attractive valuations. In the stock market, able to identify mispriced equities - selling for far less than they are worth - can't do that when buying well run private businesses.


My question: What are the factors that might allow PDH to succeed whereas Dhandho didn't?
Realize that I'm new to this and many people following this thread have been involved for a long time. Appreciate the thoughts.
Sorry offtopic, Could ya elaborate where he did say that?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: John Hjorth on September 02, 2017, 10:51:45 AM
New to PDH. Have gone through the pages of postings over the past 3 years and read the 2016 annual report.
See that it contains insurance business, real estate investments, private medical investments (GoEVisit and Burnaby PET CT clinic) and potential for purchasing wholly owned businesses. This is with a current market cap of approx C$12-13M. Had sustainability issues in 2014 and past 3 years has been a turnaround process - most of it successful. Future may be very bright.

About 3 years ago, Pabrai launched Dhandho funds with a similar goal of being a holding company able to own an insurance business, and own different asset classes outside of the equity market. Recently, Pabrai indicated that the theory behind Dhandho was flawed and he is looking to find a good exit.
Reasons given included:
1)govt regulations with insurance business are v cumbersome
2)Hard to find good businesses to buy at attractive valuations. In the stock market, able to identify mispriced equities - selling for far less than they are worth - can't do that when buying well run private businesses.

My question: What are the factors that might allow PDH to succeed whereas Dhandho didn't?
Realize that I'm new to this and many people following this thread have been involved for a long time. Appreciate the thoughts.

Sanjeev's investment universe is not identical to the investment universe of Mr. Pabrai.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on September 25, 2017, 08:39:22 AM
Bought more MyCare MedTech.  Saw this release dated the 22nd.

Item 5 Full Description of Material Change
5.1 Full Description of Material Change
Premier has acquired 572,000 Units MMI, a private telemedicine company which uses communication technology to deliver virtual medical consultations with licensed healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price of the Units was $0.35 per Unit, for total consideration of $200,000 in cash.
Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to purchase an additional MMI Share at $0.50 until December 31, 2018. Premier holds a total of 4,572,000 MMI Shares, approximately 30.50% (undiluted) of the issued and outstanding MMI Shares. Sanjeev Parsad, Premier President and CEO, sits on the board of directors of MMI.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on September 25, 2017, 09:35:35 AM
This was part of the initial agreement to purchase units in two tranches (July/Aug).  Each one of the units has warrants to potentially acquire additional units by end of 2018 if I remember correctly.   

Bought more MyCare MedTech.  Saw this release dated the 22nd.

Item 5 Full Description of Material Change
5.1 Full Description of Material Change
Premier has acquired 572,000 Units MMI, a private telemedicine company which uses communication technology to deliver virtual medical consultations with licensed healthcare providers for non-emergency conditions through its app GOeVisit. The purchase price of the Units was $0.35 per Unit, for total consideration of $200,000 in cash.
Each Unit is comprised of one Class A Common share ("MMI Share") and one half of a share purchase warrant ("MMI Warrant") of MMI. Each whole MMI Warrant will be exercisable to purchase an additional MMI Share at $0.50 until December 31, 2018. Premier holds a total of 4,572,000 MMI Shares, approximately 30.50% (undiluted) of the issued and outstanding MMI Shares. Sanjeev Parsad, Premier President and CEO, sits on the board of directors of MMI.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on September 25, 2017, 09:55:06 AM
yes, you are correct.  Warrants are $0.50 and expire in 2018.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on October 05, 2017, 06:55:41 PM
Looking at the September monthly report and noticed the following

"The Issuer's management completed and filed a formal application for conditional acceptance of the
listing of the Issuer's common shares on the TSX Venture Exchange."

Will is provide better liquidity/  make it cheaper to buy for US shareholders (thinking about the Fidelity fee)?  Not familiar with this exchange, just wondering what makes this one different.

How long does it normally take to be accepted to a new exchange?

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on October 05, 2017, 07:10:27 PM
I am rather disappointed by this news as this will increase OH and burn rate which would in turn require additional unnecessary dilution. This has been one of my worst investment decisions...

Looking at the September monthly report and noticed the following

"The Issuer's management completed and filed a formal application for conditional acceptance of the
listing of the Issuer's common shares on the TSX Venture Exchange."

Will is provide better liquidity/  make it cheaper to buy for US shareholders (thinking about the Fidelity fee)?  Not familiar with this exchange, just wondering what makes this one different.

How long does it normally take to be accepted to a new exchange?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on October 06, 2017, 07:10:16 AM
Hopefully Sanjeev is by shortly to help explain the strategy.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on October 18, 2017, 08:43:52 AM
Where do you find the "September Monthly Report"?  Thanks.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on October 18, 2017, 10:24:06 AM
Where do you find the "September Monthly Report"?  Thanks.

http://thecse.com/en/listings/diversified-industries/premier-diversified-holdings-inc

Scroll down to CSE Filings on the right hand side of your screen.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on October 18, 2017, 05:18:25 PM
Found it, thanks!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on November 10, 2017, 08:30:31 AM
Hi Sanjeev, regarding the funding of the business operations and investments, you issued new shares from time to time. Now that the price of the shares have dropped significantly over the last few weeks, is there any change in the way that you plan to raise or use cash for PDH? Thank you.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 10, 2017, 09:09:27 AM
We will continue to see significant dilution until one of the following is met:

1. Vancouver clinic is able to generate enough cash and absorb the bleeding from Sequant Re which looks to be at least a couple of years out
2. Sequant Re starts generating revenue which so far has been non existent
3.  Sanjeev is able to buy a profitable cash generating business  to absorb the losses from Sequant Re (I cannot see why any businesses would want to sell themselves to PDH in the current state)
4.  Sanjeev decides Sequant Re is a flop and shuts it down

I really hope Sanjeev is looking closely at option #4 and realizes he was taking on too much risk way too early.

Hi Sanjeev, regarding the funding of the business operations and investments, you issued new shares from time to time. Now that the price of the shares have dropped significantly over the last few weeks, is there any change in the way that you plan to raise or use cash for PDH? Thank you.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: tombgrt on November 10, 2017, 09:21:55 AM
Don't bite off more than you can chew.

Feel bad for people that invested here based on a certain persona. Hey, been there, done that... This was always one big gamble imo.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bizaro86 on November 10, 2017, 03:25:26 PM
October report indicates they are taking a minority stake in a immigration services business. While I'd prefer to see immediate cash flow generators, this is better than their other startups from a risk perspective.

Both the med tech and reinsurance businesses have the potential to be great businesses with two sided network effects giving rise to a large moat. Unfortunately, if a network business doesn't scale it is usually a zero, which is tough when you have overhead and limited investment funds.

A services business for wealthy immigrants to Vancouver has the potential to be high margin, with strong immediate cash flow.  That is what PDH needs right now, cash flow to cover overhead to buy time for the other investments to play out. Even if it doesn't ever scale that would be perfectly OK if it keeps the lights on.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on November 12, 2017, 08:33:15 AM
PDH is now at 6 cents/share. Anyone buying at these levels?

October report indicates they are taking a minority stake in a immigration services business. While I'd prefer to see immediate cash flow generators, this is better than their other startups from a risk perspective.

Both the med tech and reinsurance businesses have the potential to be great businesses with two sided network effects giving rise to a large moat. Unfortunately, if a network business doesn't scale it is usually a zero, which is tough when you have overhead and limited investment funds.

A services business for wealthy immigrants to Vancouver has the potential to be high margin, with strong immediate cash flow.  That is what PDH needs right now, cash flow to cover overhead to buy time for the other investments to play out. Even if it doesn't ever scale that would be perfectly OK if it keeps the lights on.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Value^2 on November 12, 2017, 12:32:34 PM
PDH is now at 6 cents/share. Anyone buying at these levels?


That's still quite hefty premium over book value.

btw: any idea why they pay 250k pa for leasing  6,145 sf office / clinic space? That seems expensive, to put it mildly.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CassiusKing1 on November 14, 2017, 09:46:01 AM
PDH is now at 6 cents/share. Anyone buying at these levels?

October report indicates they are taking a minority stake in a immigration services business. While I'd prefer to see immediate cash flow generators, this is better than their other startups from a risk perspective.

Both the med tech and reinsurance businesses have the potential to be great businesses with two sided network effects giving rise to a large moat. Unfortunately, if a network business doesn't scale it is usually a zero, which is tough when you have overhead and limited investment funds.

A services business for wealthy immigrants to Vancouver has the potential to be high margin, with strong immediate cash flow.  That is what PDH needs right now, cash flow to cover overhead to buy time for the other investments to play out. Even if it doesn't ever scale that would be perfectly OK if it keeps the lights on.
I think you'll be able to buy at $0.06 for a while if not a little bit cheaper in the near term.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Junto on November 14, 2017, 01:35:38 PM
Parsad I wish you would take the emotion out of the responses a little. The facts remain the results are not very good and I understand it is a turnaround but the investment returns leave much to be desired.

Very little discussion on Sequant, what is the real story? $1,505,000 to $952,041 (USD) in 7 months?  Would be good to get some more detail because that is tough to stomach.

Net Losses continue to be excessive compared to revenues. 2015 YTD Revenues of $561,400 with a Net Loss of $993,481 vs 2014 Revenues of $332,727 and Net Loss of $558,220.

Just trying to be constructive here as the business fundamentals and investment performance to date have been a struggle.

Are you planning to come out with some more support for the actions and how the company intends to get to profitability? Thanks.

Junto,

The emotion is there because it is mind-numbing when people speculate on things without knowing what is happening underneath the hood.

Without discussing anything not already in filings, press releases, monthly filings on the CSE, etc, here is what has happened in the last 12 months...and over 90% of it in the last 9 months:

- The Burnaby Clinic was completely shut down and behind on all payables by 10 weeks, including employee salaries...that was all taken care of
- The company's rent was six months behind with the bailiff picking up the rent check...that was taken care of
- The Burnaby Clinic hired a full-time tech as we started again from scratch with a tattered reputation
- Completed the Asset Purchase Agreement for the Clinic
- We did a huge private placement at zero cost other than legal and filing fees
- Huge undertaking of properly documenting the company's operations, corporate governance policies, internal controls, missed regulatory filings, missed financial filings and tax filings
- Hired a new auditor
- Changed the company from a medical issuer to a holding company/investment issuer
- Replaced half the board of directors
- Head office hired a company receptionist/admin...we pay about half the salary, the other half is covered by our sub-lease Cystic Fibrosis Canada
- Notice how payables are down $700K in the last 9 months...part of that was roughly 7 significant settlements, including one for over $430K in the last quarter that was settled for 43 cents on the dollar; settled with the former CEO; settled with Siemens; dealt with HK tax summons
- Complete revamp of how the financials are presented to shareholders, including the MD&A and all disclosures
- Push to grow China business, including hiring a highly qualified General Manager and implementing the same controls and policies as head office
- We launched Sequant Re from scratch...literally zero
- We made a bid for control of Russell Breweries, including significant legal, regulatory and filing costs

These are just the major issues...doesn't include many of the more trivial minor issues that still have costs associated with them.

So let me ask you Junto, with all of that happening, how much do you think are one-time costs in legal, consulting, professional fees, regulatory filings costs, press release fees, Computershare, Broadridge fees, transitional accounting and audit fees, printing costs, settlements, etc?  Any idea?  Can you pinpoint that number?  Of course not.  Not without sitting at my desk or being a fly on the wall in my office.

In terms of Sequant Re, it is a complete start-up from scratch.  We are essentially building a reinsurer/ILS entity from a standing start.  And remember, Bermuda is not cheap!  You have to hire staff, pay them adequately, subsidize their housing, set up an office, equipment, software, legal (enormous), statutory and regulatory documents, filings, website, advertising, travel, meetings, etc...the list is endless.  We aren't building some half-assed $5M insurance business!  Ask yourself how long it would take any of Berkshire's or Fairfax's insurance businesses to have launched from scratch?  Sequant will run losses until gross premiums scale to break-even.

I don't know if you read Mohnish's latest letter on Dhandho, but Stonetrust had a $4.2M underwriting loss last year.  We are trying to build an insurance business from scratch that will do more in premiums than Stonetrust in less than five years for what Stonetrust lost in one year!  Stonetrust also is replacing their in-house actuary...showing how tough the insurance business is in terms of recruiting talent.  We have two of the best actuaries in the business already in-house in Guy Cloutier and David Lalonde!  These guys are working relentlessly to build this out and scale the business.

Like Berkshire, Fairfax, Markel, Leucadia or any other holding company type of structure, we have built-in monthly fixed costs at head office...salaries, rent, benefits, corporate costs, accounting, filings, press releases, listing costs, legal, etc.  This is fixed at a certain amount, and our operating business net revenues and investment income (gains, dividends, interest) have to cover those costs or preferably surpass them.  For a very small company, that is tough to do, but I've always had people count me out.  Even long-time friends and partners close to me had doubts about whether we would succeed or not...that was very disheartening and disappointing!   

Investors should be focused on two things:  Is our net operating revenue growing when one-time costs are removed?  Is book/value per share increasing over time?  As one-time costs dissipate and our operating businesses continue to grow, we expect that to happen.  Take a look at our growth in revenues at the Burnaby Clinic.  That business has about a 60% gross margin, but 28% net profit margin now at the levels it is running at!  It's not even running at 40% of capacity yet!  This was doing nothing last year and had a massive burden of payables.  It's reputation was a laughingstock!  Recently, we were the only clinic in Western Canada selected for an Alzheimer's drug trial.  We have about 70-80 different doctors referring to us now with patients from BC, Alberta and Vancouver Island.

I would encourage our shareholders to talk to our employees, directors, business operators, and even service providers and ask them where this company is today compared to last year.  And where they think it will be five years from now!  Personally, the best thing I could have done for myself and Corner Market Capital was to invest in Premier...even though it was never planned to pan out this way in terms of our vehicle.  I cannot explain how big an advantage captive capital is, and both our shareholders and Corner Market Capital partners will benefit enormously from that over time!  Cheers!

Two years later and the business has not turned a corner. 6 cents or lower, it is still overpriced in the marketplace. You all should be selling and waiting to see what happens here.

Dilution from equity raises to support the poor fundamentals will continue to pressure the business. Parsad should have taken my advice to shut down the legacy business and focus on new pursuits. The largest risk I see on the management strategy is a layering of start up investments on top of a negative cash flow legacy business. High risk on top of high risk is not a good focus.  Investment returns in stocks are not enough to make up for the poor underlying operating units.

This has played out on target with my expectations and I sincerely hope many of you avoided it or only invested what you could lose. This way the losses could be offset with the market surge during the same period.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on November 14, 2017, 01:48:38 PM
Sanjeev, would you please provide your feedback?  Shareholders are getting absolutely crushed. 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gurpaul88 on November 14, 2017, 02:05:33 PM
Didn't Corner market sell shares in Oct? I think it was ~4,000,000 according to Sedar
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Gregmal on November 14, 2017, 02:33:37 PM
No position here, but I think some of the criticism of the business model that people had for something like BOMN would apply here as well. It's just challenging and something one must view as speculative. At least here you guys know Sanjeev is honest and doing his best. Not to mention he has the nuts to address most of you guys on a message board, typically behaviour viewed as taboo in the investment world. Lot's of fund managers are 1) anti social douchebags who have no problem taking(whether it be fees, assets, media attention, or in relation to a place like this, investment ideas) but rarely ever reciprocating. Mr. Parsad seems to be the antithesis of this. 2) no genuine interest in holding investors hands through an investment(again, something Sanjeev does for you guys), and 3) lack the nuts to face criticism on a consistent basis(Imagine Berkowitz owning a website and holding a regularly updated thread on SHLD?)

Maybe the project isn't panning out as planned. The investment results havent been good. But there is no reason to hold this investment in any different light or have any different set of expectations than you would with any other highly speculative, high risk high reward venture. Sometimes things just don't work out. At least here everybody had an idea what they were getting into and was provided complete transparency along the way. Much more than you typically get with an investment like this. That doesn't mean heads should roll or the guy running it needs to be vilified. At the end of the day we are all responsible for the investments we make(although admittedly sometimes complaining is necessary and/or fun. I just don't think here it is warranted).
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on November 14, 2017, 03:54:40 PM
Didn't Corner market sell shares in Oct? I think it was ~4,000,000 according to Sedar

Cannot comment on the company...investors will have to be patient and hold, or sell if they so desire.  We're in this for the long haul...not 2, 5 or 10 years.

Neither Alnesh, myself, nor Andrew Cooke have sold a single share.  The sales you see are related to any redemptions in either of our funds...redeeming partners received their pro-rata share in PDH, so that we do not jeopardize our fund liquidity at all.  Corner Market Capital has to file whenever this happens.  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: CONeal on November 14, 2017, 04:27:34 PM
Guess I’ll be the asshole that goes against the grain here.

Personally I don’t care if he comes in and addresses the stock price.  I prefer he doesn’t bc then we will expect him to address every market move.

Maybe I am viewing things incorrectly but everything has been laid out.  Including the expectations of when we might see SequantRe generate fees.  All this is in the MDA’s and this year’s letter.  It is a waste of time to complain about SequantRe not generating revenue when there was not an expectation for them to be generating fees.  Management has clearly stated when they think SequantRe will generate fees from that operation.  Once a person goes through the MDA and matches it to a timeline it gives an indication when cash flow might improve.

Does it suck that the stock price is in the gutter?  Hell yes!! And like most people, I am just weathering the storm.  Keep in mind there are approx. 1.5 million options that in March/May (can’t remember right off the top of my head) with a strike price of .05 cents.  That is free money to whoever is holding them.  Also large holders from the old management team have been unloading their shares in the past.  This is probably also helping contributing to the fall in stock price since supply outstrips demand.

Could he do a better job?  Of course, no one is perfect but he could also be doing a hell of a lot worse.  Most of the investments are startups and needs a startup mentality/expectations.  Despite the fall in stock price, it has not changed my view or thesis of the company. 

Of course as soon as I typed this all out Prasad would have a response.  lol
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: bookie71 on November 14, 2017, 09:31:02 PM
Quote
Does it suck that the stock price is in the gutter?
Only if you are selling, if you are in for the long run and your due diligence says the company is doing what you want it to, then you use the low prices to increase your position.
jmho
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gurpaul88 on November 29, 2017, 12:12:15 PM
Another private placement at .075

"The net proceeds of the Offering will be used to fund the acquisition of an interest in MyCare MedTech Inc. (an Alberta telemedicine company), and for general working capital. The Issuer may, in its discretion, determine to use the proceeds for acquisition of other entities or assets, including an interest in Sequant Reinsurance Holdings Ltd. (a Bermuda-based reinsurance company)"
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: PLynchJr on December 05, 2017, 06:45:53 AM
Yikes!  PRDGF down to .0421 now.  FYI...it appears the $50 fee to buy with Fidelity is now gone.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on December 05, 2017, 07:00:16 AM
FYI...it appears the $50 fee to buy with Fidelity is now gone.

I noticed that too.  I had a limit order in for a while to buy at $0.055 and it filled recently with no $50 fee.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Jurgis on December 05, 2017, 07:02:47 AM
Yikes!  PRDGF down to .0421 now.  FYI...it appears the $50 fee to buy with Fidelity is now gone.

The fee has been inconsistent before. Sometimes it was on, sometimes not.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: gurpaul88 on December 05, 2017, 07:37:52 AM
could probably expect continued dilution.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on January 08, 2018, 02:55:50 PM
Thank you for selecting #4!   :-)

https://finance.yahoo.com/news/premier-diversified-holdings-inc-provides-221500013.html

We will continue to see significant dilution until one of the following is met:

1. Vancouver clinic is able to generate enough cash and absorb the bleeding from Sequant Re which looks to be at least a couple of years out
2. Sequant Re starts generating revenue which so far has been non existent
3.  Sanjeev is able to buy a profitable cash generating business  to absorb the losses from Sequant Re (I cannot see why any businesses would want to sell themselves to PDH in the current state)
4.  Sanjeev decides Sequant Re is a flop and shuts it down

I really hope Sanjeev is looking closely at option #4 and realizes he was taking on too much risk way too early.

Hi Sanjeev, regarding the funding of the business operations and investments, you issued new shares from time to time. Now that the price of the shares have dropped significantly over the last few weeks, is there any change in the way that you plan to raise or use cash for PDH? Thank you.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on January 08, 2018, 03:12:10 PM
Hi,

It was not an easy decision, but we spent the last three months in due diligence with an offer for $2M in the holding company and $50M in the ILS portfolio.  We were so close...but right before Christmas, this very well known firm decided to pull out.  So at last Thursday's Sequant board meeting, it was decided to put it into liquidation after exhausting all of our contacts.  We will have more details in the annual letter at the end of the month.

It's painful to take the loss, but the dilution decreases dramatically, current and new resources will go into actual, growing cash flowing businesses, and losses will decrease by 60% plus after this quarter.  We gave it three full years...a year longer than we originally planned...even if we put more money into it, the stigma of a lack of commitment into the ILS portfolio would only create more questions from institutions.  Ironically, the model portfolios performed fantastic the last three years, returning anywhere from 7-12% annually, even during such a busy hurricane and catastrophe season.

We will continue to focus on the clinic business, goevisit.com and real estate which are all doing wonderfully, and we'll work hard to recoup these losses over the next few years!  Cheers!
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on January 08, 2018, 03:24:20 PM
Quote
As a result of the liquidation of SRHL, the Company will write down the carrying value of the Investment in Associate in the amount of approximately $2,500,000 to $nil as of September 30, 2017.
Yikes, this looks awful. Shareholder equity as of the most recent interim was $5.9M. If $2.5M gets knocked off because of the Sequant impairment, we can maybe expect another $0.5M of losses if the first half of the year was anything to go by. Shareholder equity could be as low as $2.9M as of year-end.

I really don't know how PDH can remain viable as a public company with such little capital. The only consolation is I would bet Parsad is hurting more than any of the shareholders right now.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on January 09, 2018, 06:47:31 AM
Now the conversation should shift to cost cuts at the holding company e.g. Salaries etc. until we can truly become a viable public traded company.  Sanjeev and team should take a significant pay cut until the clinic's cash can offset the OH costs at the HoldCo. 

Quote
As a result of the liquidation of SRHL, the Company will write down the carrying value of the Investment in Associate in the amount of approximately $2,500,000 to $nil as of September 30, 2017.
Yikes, this looks awful. Shareholder equity as of the most recent interim was $5.9M. If $2.5M gets knocked off because of the Sequant impairment, we can maybe expect another $0.5M of losses if the first half of the year was anything to go by. Shareholder equity could be as low as $2.9M as of year-end.

I really don't know how PDH can remain viable as a public company with such little capital. The only consolation is I would bet Parsad is hurting more than any of the shareholders right now.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Partner24 on January 09, 2018, 12:21:46 PM
OMG. It must have been terrible to have a big project like that ends up with a liquidation.

But you stopped the bleeding. It was a 10 feet pole, two birds in the bush, you name it...

I don't care for the accounting loss. Profit is vanity, cash flow is reality. I'm happy to see that you'll now put all the focus on the other projects.  The day that you generate positive free cash flows...is the day that we are independant from outside investments and safe.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on January 09, 2018, 02:43:56 PM
Now the conversation should shift to cost cuts at the holding company e.g. Salaries etc. until we can truly become a viable public traded company.  Sanjeev and team should take a significant pay cut until the clinic's cash can offset the OH costs at the HoldCo. 

Quote
As a result of the liquidation of SRHL, the Company will write down the carrying value of the Investment in Associate in the amount of approximately $2,500,000 to $nil as of September 30, 2017.
Yikes, this looks awful. Shareholder equity as of the most recent interim was $5.9M. If $2.5M gets knocked off because of the Sequant impairment, we can maybe expect another $0.5M of losses if the first half of the year was anything to go by. Shareholder equity could be as low as $2.9M as of year-end.

I really don't know how PDH can remain viable as a public company with such little capital. The only consolation is I would bet Parsad is hurting more than any of the shareholders right now.

This really sucks -- a typical 'sunk cost' that went too long. Have to learn to walk and be independent before shooting for the stars.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: RichardGibbons on January 09, 2018, 04:50:30 PM
This really sucks -- a typical 'sunk cost' that went too long. Have to learn to walk and be independent before shooting for the stars.

To me, it doesn't sound like a sunk cost that went too long. From what Sanjeev said, it sounds like there was a reasonable chance of success right up until a few weeks ago. The way I see things--that is, assuming none of the people involved is clairvoyant--it sounds like it was shut down at exactly the right time.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: rkbabang on January 10, 2018, 05:07:58 AM
This really sucks -- a typical 'sunk cost' that went too long. Have to learn to walk and be independent before shooting for the stars.

To me, it doesn't sound like a sunk cost that went too long. From what Sanjeev said, it sounds like there was a reasonable chance of success right up until a few weeks ago. The way I see things--that is, assuming none of the people involved is clairvoyant--it sounds like it was shut down at exactly the right time.

Yes, It may have seemed like a reasonable bet to make, but benchmark has a point that a much larger well capitalized company could have more safely made such a bet. And could have even afforded to give it a few more years to play out.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on January 10, 2018, 07:06:41 AM
What happens next to corner capital market hedge fund? I thought it was heavily into PDH. From yahoo finance, the market cap of PDH is now 9 MM, if the book value is going to go down to 2.5 MM, it could fall a lot still?

This really sucks -- a typical 'sunk cost' that went too long. Have to learn to walk and be independent before shooting for the stars.

To me, it doesn't sound like a sunk cost that went too long. From what Sanjeev said, it sounds like there was a reasonable chance of success right up until a few weeks ago. The way I see things--that is, assuming none of the people involved is clairvoyant--it sounds like it was shut down at exactly the right time.

Yes, It may have seemed like a reasonable bet to make, but benchmark has a point that a much larger well capitalized company could have more safely made such a bet. And could have even afforded to give it a few more years to play out.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Parsad on January 10, 2018, 04:55:14 PM
What happens next to corner capital market hedge fund? I thought it was heavily into PDH. From yahoo finance, the market cap of PDH is now 9 MM, if the book value is going to go down to 2.5 MM, it could fall a lot still?

This really sucks -- a typical 'sunk cost' that went too long. Have to learn to walk and be independent before shooting for the stars.

To me, it doesn't sound like a sunk cost that went too long. From what Sanjeev said, it sounds like there was a reasonable chance of success right up until a few weeks ago. The way I see things--that is, assuming none of the people involved is clairvoyant--it sounds like it was shut down at exactly the right time.

Yes, It may have seemed like a reasonable bet to make, but benchmark has a point that a much larger well capitalized company could have more safely made such a bet. And could have even afforded to give it a few more years to play out.

Clinic, stake in goevisit, real estate investments, cash and other investments...worth over $9M on their own...even if equity falls.  Clinic, goevisit, real estate are all carried at cost...not what their current value is. 

Hedge fund is actually in really good shape...PDH was down alot in 2017, but non-PDH assets climbed more than drop in PDH. 

Can't really say more than that...you'll have to read PDH annual letter at the end of the month and MPIC annual report when it shows up on CMC website in September/October.  Cheers! 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: netnet on January 10, 2018, 05:30:16 PM
Of course the liquidation and the stock price declines are painful, but at this point you are paying about the estimated book for the business, with no growth factored in; plus I might add you get Parsad for free, as it were.

You have the business value there in front of you with the bad news out and already priced in.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Junto on January 10, 2018, 07:34:59 PM
Of course the liquidation and the stock price declines are painful, but at this point you are paying about the estimated book for the business, with no growth factored in; plus I might add you get Parsad for free, as it were.

You have the business value there in front of you with the bad news out and already priced in.

I think you are living in a bubble. Look at the fundamentals. This is not even close to "already priced in" for valuation. For value investors, many of you are forgetting basic balance sheet and cash flow analysis.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: tombgrt on January 11, 2018, 03:30:46 AM
Correct Junto. I'm surprised this is still trading where it is.

Halo and bandwagon effect are a b*tch. Learn from it and move on.


plus I might add you get Parsad for free, as it were.


Honest question: Would you say this has been a net positive or net negative for the company and its investors?

And doesn't he get paid?  ???
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: netnet on January 11, 2018, 12:13:14 PM
Of course the liquidation and the stock price declines are painful, but at this point you are paying about the estimated book for the business, with no growth factored in; plus I might add you get Parsad for free, as it were.

You have the business value there in front of you with the bad news out and already priced in.

I think you are living in a bubble. Look at the fundamentals. This is not even close to "already priced in" for valuation. For value investors, many of you are forgetting basic balance sheet and cash flow analysis.
Balance sheet analysis is only the beginning not the end of valuation, so the question is whether assets carried at cost are worth more than that.  I personally believe Parsad when he says:
Quote
Clinic, stake in goevisit, real estate investments, cash and other investments...worth over $9M on their own...even if equity falls.  Clinic, goevisit, real estate are all carried at cost...not what their current value is.

I'm not an investor, as I only buy pure jockey stocks after one complete cycle, one failure, and multiple outstanding successes, unless the business fundamentals are overwhelming positive, in which case it is not a pure jockey stock.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: KFRCanuk on January 11, 2018, 01:35:53 PM
We will continue to focus on the clinic business, goevisit.com and real estate which are all doing wonderfully, and we'll work hard to recoup these losses over the next few years!  Cheers!

I'm Canadian and signed up for goevisit.com . I don't have a need for it today (I'm not sick) but at somepoint I will try it out.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on January 11, 2018, 06:03:39 PM
The problem with PDH is that the capital  ase and the potential returns from it are way too small to carry the current overhead. The loss in Sequant makes this problem much worse.

Shareholders look at continued losses and dilution here.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: compoundinglife on January 13, 2018, 08:51:43 PM
It will be fun to look back on this many years from now.

Will we look like geniuses for getting in at the ground floor with a budding unknown operator/allocator who made us a truckload of money?

Will we look like idiots because we invested in some rando on the internet with a website that has berkshire and fairfax in the name?



Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: compoundinglife on January 13, 2018, 11:57:31 PM
It was not an easy decision, but we spent the last three months in due diligence with an offer for $2M in the holding company and $50M in the ILS portfolio.  We were so close...but right before Christmas, this very well known firm decided to pull out.  So at last Thursday's Sequant board meeting, it was decided to put it into liquidation after exhausting all of our contacts.  We will have more details in the annual letter at the end of the month.

Look forward to reading the annual letter. One of the main questions I have is given all insurance industry connections between you, Guy, American Safety Re, Fairfax etc... Why was it so hard to find an institutional partner? Was there a critical gap in the idea behind Sequant? ILS and CAT bonds appear to still be in their infancy, were you too early in the market?

I did not know anything about ILS before Sequant so curious to learn what the mistakes were.

Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wescobrk on January 26, 2018, 05:32:46 PM
What was the total loss on sequant?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: OracleofCarolina on January 26, 2018, 05:40:35 PM
What was the total loss on sequant?

This is form the press release,

As a result of the liquidation of SRHL, the Company will write down the carrying value of the Investment in Associate in the amount of approximately $2,500,000 to $nil as of September 30, 2017.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: redhots on January 26, 2018, 05:49:45 PM
I think their cost is closer to $5M CDN.   Not sure why the writedown is different.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on January 30, 2018, 12:28:31 PM
http://thecse.com/sites/default/files/PDH_-_2017_Letter_to_Shareholders_0.pdf
http://thecse.com/sites/default/files/Premier_-_MDA_YE17_-_FINAL.PDF
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: warrior on January 30, 2018, 04:30:49 PM
That was a huge loss as a for start-up  busseness. Im not sure what was the rational  to bet that much on Sequant re and keep adding into it...
"In order to succeed you must first survive" and avoid ruin.
Sanjeev, I  do wish you luck.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on January 31, 2018, 08:55:08 AM
http://thecse.com/sites/default/files/PDH_-_2017_Letter_to_Shareholders_0.pdf
http://thecse.com/sites/default/files/Premier_-_MDA_YE17_-_FINAL.PDF

Seems that PDH has a tendency to be a VC (Sequent Re, MyCare), which usually fail. Let's get back to invest in business that solid track records of making money :(
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on January 31, 2018, 09:22:23 AM
I am fine with MyCare because Sanjeev seems to have learned his lesson with SequantRe, it is relatively small and related to PDC.  Sanjeev, would you please provide growth details on MyCare along with those growth targets? 

PDC seems to be firing on all cylinders, which is great! This business comes with sexy gross margins!

"After learning our lesson with Sequant, we told MyCare earlier in 2017 that they will have to find outside funding
going forward, or be self-financing, as we have completed our financing commitment. Recently, they signed a
$2.5M outside financing, at a $8M valuation for MyCare. The financing comes with some tight targets and
deadlines for MyCare, including a liquidity event in 2019. Expectations are high for MyCare! "


http://thecse.com/sites/default/files/PDH_-_2017_Letter_to_Shareholders_0.pdf
http://thecse.com/sites/default/files/Premier_-_MDA_YE17_-_FINAL.PDF

Seems that PDH has a tendency to be a VC (Sequent Re, MyCare), which usually fail. Let's get back to invest in business that solid track records of making money :(
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on January 31, 2018, 09:50:33 AM
I am fine with MyCare because Sanjeev seems to have learned his lesson with SequantRe, it is relatively small and related to PDC.  Sanjeev, would you please provide growth details on MyCare along with those growth targets? 

PDC is also showing significant growth which is great with sexy gross margins!

"After learning our lesson with Sequant, we told MyCare earlier in 2017 that they will have to find outside funding
going forward, or be self-financing, as we have completed our financing commitment. Recently, they signed a
$2.5M outside financing, at a $8M valuation for MyCare. The financing comes with some tight targets and
deadlines for MyCare, including a liquidity event in 2019. Expectations are high for MyCare! "


http://thecse.com/sites/default/files/PDH_-_2017_Letter_to_Shareholders_0.pdf
http://thecse.com/sites/default/files/Premier_-_MDA_YE17_-_FINAL.PDF

Seems that PDH has a tendency to be a VC (Sequent Re, MyCare), which usually fail. Let's get back to invest in business that solid track records of making money :(

I'm glad that Sanjeev learned his lesson and stopped funding MyCare. I'm curious about what Sanjeev's thought process on investing in Sequant and MyCare (or maybe there are numbers that we don't know about these businesses) -- as I assume he surely knows that most VC funded venture fails.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on February 01, 2018, 07:42:35 AM
I wanted to perform a sum of parts analysis on PDH based on the data Sanjeev provided.  We are looking at a value of ~$4M without factoring in PDC however there is a substantial burn rate.  At the current market cap of ~$6.5M, it looks to be fair/slightly under valued unless PDC is worth substantially more than $2.5M

-Cash and equivalent $566,695
-MyCare investment - $2,400,000 (Valuation based on outside financing)
-Russell - $381,400 (This is already distributed as cash so i'll value it at $0)
-Bentley - $425,625 (Roughly ~13.5% increase in value based on the comps Sanjeev provided)
-Arcola - $620,000 (Roughly ~31% increase in value based on the comps Sanjeev provided)
-PDC - Anyone have any idea how to value this business? It does ~$1.3M in revenue which grew @ 23% and has a gross margin of 69.2%
-Recovery of assets from China operations, $100-$200k at a minimum? MRI equipment is not cheap...

Feedback? 
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wabuffo on February 01, 2018, 12:21:32 PM
Recovery of assets from China operations, $100-$200k at a minimum? MRI equipment is not cheap...

Aren't the China assets a zero?
Quote
Subsequent to September 30, 2017, the Company entered into a sale agreement ... with a director of the Company’s Chinese Entities to sell those entities to the director. Pursuant to the Agreement, the Company will transfer all the assets and liabilities of Premier Diagnostic (Hong Kong) Ltd., and Premier Diagnostic (China) Corporation (the “Disposal Group”) to the director, for $nil proceeds

wabuffo
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on February 01, 2018, 01:31:27 PM
Sanjeev's letter to shareholders:

In 2017 we began efforts to sell the China operations. These discussions continue and are inherently long in nature,
so we have decided to take the conservative route and write-down the China operations at this time. Any recovery
of assets will be treated as a gain in subsequent quarters.


Recovery of assets from China operations, $100-$200k at a minimum? MRI equipment is not cheap...

Aren't the China assets a zero?
Quote
Subsequent to September 30, 2017, the Company entered into a sale agreement ... with a director of the Company’s Chinese Entities to sell those entities to the director. Pursuant to the Agreement, the Company will transfer all the assets and liabilities of Premier Diagnostic (Hong Kong) Ltd., and Premier Diagnostic (China) Corporation (the “Disposal Group”) to the director, for $nil proceeds

wabuffo
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: benchmark on February 01, 2018, 01:47:49 PM
I wanted to perform a sum of parts analysis on PDH based on the data Sanjeev provided.  We are looking at a value of ~$4M without factoring in PDC however there is a substantial burn rate.  At the current market cap of ~$6.5M, it looks to be fair/slightly under valued unless PDC is worth substantially more than $2.5M

-Cash and equivalent $566,695
-MyCare investment - $2,400,000 (Valuation based on outside financing)
-Russell - $381,400 (This is already distributed as cash so i'll value it at $0)
-Bentley - $425,625 (Roughly ~13.5% increase in value based on the comps Sanjeev provided)
-Arcola - $620,000 (Roughly ~31% increase in value based on the comps Sanjeev provided)
-PDC - Anyone have any idea how to value this business? It does ~$1.3M in revenue which grew @ 23% and has a gross margin of 69.2%
-Recovery of assets from China operations, $100-$200k at a minimum? MRI equipment is not cheap...

Feedback?

Without numbers on MyCare, it's hard to know if 2.4M is the right number. Usually VC numbers should be discounted unfortunately :(
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: wabuffo on February 01, 2018, 02:00:03 PM
I dunno - the disclosure in the audited statements seems pretty clear but what do I know. 

In Note 19, it says that all of the assets of Premier Diagnostic (China) Corp (a/k/a - Premier International Medical Equipment Technology Services Ltd.) were sold for nil.  This subsidiary appears to be 100% owned by Premier Hong Kong Ltd.

This was after the date of the financial statements.  I saw the comment in the letter but I have to say the letter is confusing vs the financial disclosures.

In addition, it appears the assets of the other two Chinese subsidiaries - Premier Investment Hong Kong and Premier Investment Shanghai were not part of the deal.  Still the main asset of these two subs (Hong Kong owns 100% of Shanghai) was a net cash balance which was also written off.

I'm not sure - your guess is as good as mine.

wabuffo
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Ballinvarosig Investors on February 01, 2018, 03:26:20 PM
I wanted to perform a sum of parts analysis on PDH based on the data Sanjeev provided.  We are looking at a value of ~$4M without factoring in PDC however there is a substantial burn rate.  At the current market cap of ~$6.5M, it looks to be fair/slightly under valued unless PDC is worth substantially more than $2.5M

-Cash and equivalent $566,695
-MyCare investment - $2,400,000 (Valuation based on outside financing)
-Russell - $381,400 (This is already distributed as cash so i'll value it at $0)
-Bentley - $425,625 (Roughly ~13.5% increase in value based on the comps Sanjeev provided)
-Arcola - $620,000 (Roughly ~31% increase in value based on the comps Sanjeev provided)
-PDC - Anyone have any idea how to value this business? It does ~$1.3M in revenue which grew @ 23% and has a gross margin of 69.2%
-Recovery of assets from China operations, $100-$200k at a minimum? MRI equipment is not cheap...

Feedback?
Your cash balance estimate is wrong as it doesn't include the distribution of $0.035 from the second distribution from the Russell Brewery liquidation. I estimate that the cash on hand is almost $1.1m on the dot, that is before cash burn from continuing operations.

I think that while shareholders have too little information to value Bentley and Arcola, my guess is that your valuations also looks too low. For example, PDH holds a 40.5% interest in Bentley which they paid $375k for. They intend on developing 4 properties which Parsad says could sell for $800 a sq/ft. If they are developing 4,500 sq ft worth of property (which seems reasonable for 4 bi duplex properties), then that is gross proceeds of $3.6m, or $1.46m for PDH's 40.5% share. I am purely guessing here, but I reckon the initial money raised for Bentley paid for the site, and that they would need the same amount again in financing to bring the project to completion. That would give us $1.46m in gross receipts, minus $375k for the site, minus $375k for development. That would give PDH a profit before taxes of $760k or so, This seems reasonable to me given how much Canadian property has run up since the initial purchase. My feeling is that the same holds true for Arcola.

The only other thing I would question is whether the liquidation of the Chinese business and Sequant will yield nothing. Surely there is something left there?

I said a few weeks ago, I don't see how PDH can continue as a viable entity with their current rate of equity and cash burn. I don't really see anything to change that. In fact, I wouldn't be surprised if PDH aren't actively considering, or putting their remaining assets on the market with a view to liquidating.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on February 01, 2018, 07:41:26 PM
Don‘t forget 844k in corporate cost annually.  Cutting them will cost money first. If you put a 2–3x  multiple on them, in the case of a liquidation or restructuring , PDH‘s NPV will be quite a bit closer to zero.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Value^2 on February 02, 2018, 03:05:23 AM
I am fine with MyCare because Sanjeev seems to have learned his lesson with SequantRe, it is relatively small and related to PDC.  Sanjeev, would you please provide growth details on MyCare along with those growth targets? 

If SequantRe was small... how you would describe their other investments?

Meaningless?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on February 02, 2018, 05:36:13 AM
You took my statement out of context.  I was extremely disappointed and upset over SequantRe.  I am okay with Mycare as it is a $1.2M investment, related to PDC and we are not going to further fund its operations!!!

I am fine with MyCare because Sanjeev seems to have learned his lesson with SequantRe, it is relatively small and related to PDC.  Sanjeev, would you please provide growth details on MyCare along with those growth targets? 

If SequantRe was small... how you would describe their other investments?

Meaningless?
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on February 03, 2018, 09:49:20 AM
850K in corporate cost for a 5MM market cap company? Might as well take the concern private but that is unlikely. We can look for more dilution moving forward. A lot of people on this board that invested in this will probably lose money.

Don‘t forget 844k in corporate cost annually.  Cutting them will cost money first. If you put a 2–3x  multiple on them, in the case of a liquidation or restructuring , PDH‘s NPV will be quite a bit closer to zero.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: Spekulatius on February 03, 2018, 01:05:49 PM
850K in corporate cost for a 5MM market cap company? Might as well take the concern private but that is unlikely. We can look for more dilution moving forward. A lot of people on this board that invested in this will probably lose money.

Don‘t forget 844k in corporate cost annually.  Cutting them will cost money first. If you put a 2–3x  multiple on them, in the case of a liquidation or restructuring , PDH‘s NPV will be quite a bit closer to zero.

I mentioned this before, but PDH, even before the recent writeoff has too small of am; asset base to be viable. It would need to be 5x or even better 10x larger to justify the current level of expenses and overhead. We will see if  PDH is able time shrink the current overhead now that some of the business are gone. This stock is either a zero or they need to raise a lot of capital to increase the asset base,  because it won’t happen from retained earnings.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on February 04, 2018, 10:28:19 AM
I don't see the quota for this anymore in google finance. Yahoo was not showing it before. Looks like 4 cents/share CAD and likely go down further.

850K in corporate cost for a 5MM market cap company? Might as well take the concern private but that is unlikely. We can look for more dilution moving forward. A lot of people on this board that invested in this will probably lose money.

Don‘t forget 844k in corporate cost annually.  Cutting them will cost money first. If you put a 2–3x  multiple on them, in the case of a liquidation or restructuring , PDH‘s NPV will be quite a bit closer to zero.

I mentioned this before, but PDH, even before the recent writeoff has too small of am; asset base to be viable. It would need to be 5x or even better 10x larger to justify the current level of expenses and overhead. We will see if  PDH is able time shrink the current overhead now that some of the business are gone. This stock is either a zero or they need to raise a lot of capital to increase the asset base,  because it won’t happen from retained earnings.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: StevieV on February 04, 2018, 10:46:45 AM
Everything I have read about Parsad has been great.  He seems like an upstanding guy who will care about his investors.  Great investor as well.
I am also glad he created this board.

That being said, I am not sure I understand PDH.  It seems to me as though Parsad's expertise is in investing in public securities.  PDH has mostly been focused on operating businesses.  As has been said above, not only operating businesses, but early stage companies or even brand new (Sequant).

They've had a couple of missteps so far.  First with the Chinese operations and now with Sequant.  I don't think there is anything unusual about that.  Going into China, starting new ventures - those are going to be things riddled with missteps.  It just puts a very small company in a tough financial position.

Maybe I am looking through biased glasses, but I still tend to think Parsad will make a go of it eventually.  And, I would like to own shares of PDH someday.  However, in order to make a reasoned investment case, I will need to see more.  Hoping the next few years go well for PDH and I can become a shareholder.

Best of luck to all of those involved in the company.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: shalab on February 04, 2018, 11:08:27 AM
I also hold Parsad in high regard. He owns multiple businesses and is a self made multi millionaire.

For PDH to survive, they have to do a reverse split to raise the share prices. They can then do a secondary offering at the same time.  They would need to cut the salaries of "overhead" and bring it down. This will be a painful but necessary step. I don't see how 25% of the market cap in overhead can be sustained.

They also need to change the business model to invest in public securities as opposed to speculative ventures.

cheers!
shalab

Everything I have read about Parsad has been great.  He seems like an upstanding guy who will care about his investors.  Great investor as well.
I am also glad he created this board.

That being said, I am not sure I understand PDH.  It seems to me as though Parsad's expertise is in investing in public securities.  PDH has mostly been focused on operating businesses.  As has been said above, not only operating businesses, but early stage companies or even brand new (Sequant).

They've had a couple of missteps so far.  First with the Chinese operations and now with Sequant.  I don't think there is anything unusual about that.  Going into China, starting new ventures - those are going to be things riddled with missteps.  It just puts a very small company in a tough financial position.

Maybe I am looking through biased glasses, but I still tend to think Parsad will make a go of it eventually.  And, I would like to own shares of PDH someday.  However, in order to make a reasoned investment case, I will need to see more.  Hoping the next few years go well for PDH and I can become a shareholder.

Best of luck to all of those involved in the company.
Title: Re: PDH - Premier Diversified Holdings Inc.
Post by: ourkid8 on February 05, 2018, 07:03:32 AM
Agreed and this needs to start with Sanjeev and his management team taking a substantial pay cut.  I would also like him to immediately stop any initiatives to increase OH such as listing on the TSXV as we are in survival mode.     

I also hold Parsad in high regard. He owns multiple businesses and is a self made multi millionaire.

For PDH to survive, they have to do a reverse split to raise the share prices. They can then do a secondary offering at the same time.  They would need to cut the salaries of "overhead" and bring it down. This will be a painful but necessary step. I don't see how 25% of the market cap in overhead can be sustained.

They also need to change the business model to invest in public securities as opposed to speculative ventures.

cheers!
shalab