I agree, I think that the all important 10K is the key for investors right now and only with transparency can investors feel confident in putting hard earned money to work in RFMK. Stocks are nothing without transparency, its a requirement, especially in the face of dilution over time. Shareholders can understand dilution, it is what gives speculative micro cap start ups the impetus to grow and raise capital to get the business up and running, however without a detailed official accounting of where and how that money was spent, investors grow fearful because it becomes akin to throwing money down a black hole.
One major positive for RFMK though is that the 10K will be audited which is unheard of in the pink sheets. If indeed we do get an audited 10K filed with the SEC, that is going to be a MAJOR step forward for the company IMO. To date really the only main complaint shareholders have is that promises were stated by the CEO which have not yet come to pass, that is the main issue and so over time as day after day, week after week goes by with no 10K, investors can easily begin losing trust in the CEO and the basher scam arguments take their toll on sentiment. We have already seen many alleged RFMK investors throw in the towel here and on other boards, seemingly because of the delays. I still remain hopeful that the 10K will come out but we can really no longer use the term, "soon". It is a loaded word and it has lost meaning at this point. We understand there have been delays with the auditors, but as weeks turn into months and the elections go by and still more promises and then the end of the year quickly approaches, the issue becomes the worry that it will never come. I think the new year should be the absolute maximum time frame for the CEO. I think Mr Allinder should make certain that the audit will pass and the 10K will be filed with the SEC by then, whatever must be done. If certain reporting time periods are causing the entire audit to get held up then perhaps the reporting time frame needs to be condensed and shortened in order for it to pass and then at least shareholders can see an audited 10K for a decent time period, the main portion of time is better than all of it. Perhaps the CEO bit off more than he could chew with such a monumental task of getting multiple years worth of business operations audited. Can the auditors not just do it in section? For instance Jan 2012 through Oct or Nov 2012 and then leave the earlier time periods to be audited later? I realize they are attempting to get it all done but at some point it becomes a cost benefit analysis and the delays are causing more harm for the company in terms of confidence lost than in what the corp gains by completing the audit for that entire time period.
I think this company IS for real and everything that the current CEO has promised HAS come to pass this year, so I am thinking the 10K gets done but the timing is the issue. I do not think we can really say that the "trading" in RFMK consists of "trends". Yes, there are fluctuations and ups and downs in the stock, however with a float just over 1B, any given day with only trading of 10M, 20M or 30M shares is just noise, IMO. The price fluctuations mean nothing. Now when we see say 75M or more shares trade intraday then I think perhaps those days actually can tell us something about how the market is pricing RFMK stock. Hopefully for the sake of shareholders, the 10K is filed before the end of the year. Just my 2 cents.
GLTA
$RFMK
