Posted On: 12/21/2015 3:39:08 PM
Post# of 11899
Shareholders of RFMK have been given a Christmas gift this year from Mr Allinder of a 1:1000 reverse stock split in their stocking along with some coal representing the lack of any launch of an alleged new product in the 'pocket puffer'.
The last company update, nearly two months ago included the following statement by the 'CEO' of this 'company',
"The plan all along has been to get RFMK to fully reporting status, build a business, grow revenues and become profitable. The economic reality is that you must become cash flow positive if you want to move forward in business. The old days of living off of funding and recycling ideas and never getting to profitability are dead and gone forever."
After over three years with Mr Allinder diluting shareholders into oblivion, none of the stated goals have been accomplished and shareholders are again in a dark period of zero communication from management, failure to meet SEC reporting standards, no real 'business', no product actually selling on any decent level, no revenues and no profitability.
Years ago shareholders began their investments with an O/S which was under 1 billion shares, now it is 9 billion shares; diluted 9-fold.
Shareholders were led to believe that the 'pocket puffer' launch was 'imminent' and that yet another minor 'flaw' in the design had been corrected at the factory and that the first production batch completion was 'imminent' or within a week or so; that was back at the beginning of November. There are now about two weeks left in the year and no communication or updates for shareholders about what is going on other than a filing stating the intention to reverse split the stock.
In my opinion, after giving Mr Allinder ample time and resources to produce and bring value to shareholders, it is safe to be of the opinion that he has failed as 'CEO'. All confidence has been lost in what appears to be as the bashers have stated, another PK share selling scheme, unfortunately.
The stock has not had any bid for several weeks.
I have not been a shareholder for a long while but I wished to express my disappointment for shareholders in that it appears that Mr Allinder has failed his fiduciary duty to shareholders and while promising a new product launch any day now, any week now, for months and months, the real plan seemed to have been to do nothing and wait for Christmas so that shareholders could receive the Christmas present of coal in their stockings via a reverse split.
Shameful.
Do or do not, there is no try.
$RFMK
The last company update, nearly two months ago included the following statement by the 'CEO' of this 'company',
"The plan all along has been to get RFMK to fully reporting status, build a business, grow revenues and become profitable. The economic reality is that you must become cash flow positive if you want to move forward in business. The old days of living off of funding and recycling ideas and never getting to profitability are dead and gone forever."
After over three years with Mr Allinder diluting shareholders into oblivion, none of the stated goals have been accomplished and shareholders are again in a dark period of zero communication from management, failure to meet SEC reporting standards, no real 'business', no product actually selling on any decent level, no revenues and no profitability.
Years ago shareholders began their investments with an O/S which was under 1 billion shares, now it is 9 billion shares; diluted 9-fold.
Shareholders were led to believe that the 'pocket puffer' launch was 'imminent' and that yet another minor 'flaw' in the design had been corrected at the factory and that the first production batch completion was 'imminent' or within a week or so; that was back at the beginning of November. There are now about two weeks left in the year and no communication or updates for shareholders about what is going on other than a filing stating the intention to reverse split the stock.
In my opinion, after giving Mr Allinder ample time and resources to produce and bring value to shareholders, it is safe to be of the opinion that he has failed as 'CEO'. All confidence has been lost in what appears to be as the bashers have stated, another PK share selling scheme, unfortunately.
The stock has not had any bid for several weeks.
I have not been a shareholder for a long while but I wished to express my disappointment for shareholders in that it appears that Mr Allinder has failed his fiduciary duty to shareholders and while promising a new product launch any day now, any week now, for months and months, the real plan seemed to have been to do nothing and wait for Christmas so that shareholders could receive the Christmas present of coal in their stockings via a reverse split.
Shameful.
Do or do not, there is no try.
$RFMK
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