Yes, they need to update the OTC markets site with the current information. The OTC markets site categorizes RFMK as limited information which is not ideal. The company needs to fulfill their obligation to shareholders and file the most up to date recent disclosure and financial filings in order to get current with the OTC markets site reporting requirements. Perhaps this is underway but all shareholders have to go on is dated material from the end of last year. I should think management is working on getting their paper work in order and filed as we speak. Transparency is the key for investors, then growth and business fundamentals.
It looks like the O/S is now 1B shares and the float is about 680M. I have already addressed my opinion of the dilution, I think it was necessary and a good strategic move for the company so as to accelerate its growth path. However, at this point I think that if investors are to go six months without disclosure or financial filings then dilution must come to a screeching halt. I think it is asking too much of long term shareholders to sit idly by while each month millions of shares are added to the O/S all the while not having the ability to see on paper where exactly those funds are going and how they are being used to fund direct operations. Just my opinions.
I think that a very strong and bold move from management would be to make a statement by retiring 1B of the unissued authorized shares, and perhaps later if obtained long term funding, buy back a portion of the existing outstanding shares. This along with an audit and uplisting to the OTCBB would I think give the company a higher valuation which would mean a much higher stock price and the bigger investment could come into the stock, supporting a higher paid-in capital for which the company could use to collateralize lines of credit. Its a downward spiral to continue to dilute an A/S in the multiple billions while the pps falls because of low volume caused by languishing on the pink sheets.
Management announced on April 20th the ordering of another batch of 2,000 units. I am excited for the company with this large order in the works, however, it has been nearly two months now. Where is the shipment? I am glad to hear too that we now have Arizona and distributors in the Eastern USA planning to sell the CannaCig. The CEO stated, It took some serious funding to order this many units but our margins are great and we intend to keep reinvesting the principle. It is very good to hear that management intends to reinvest the principle to order larger and larger supply of units. Hopefully with great margins the growth path will allow for a very high P/E multiple.
All in all I think that management is on the right track and has the right intentions. There have been many corrective measures put in place so as to make this company REAL! The developments this year have in my opinion really set this company up for major success. These are the great positives. The only negative that I can see right now is that investors are now just in wait and see mode and to date really only have a test launch to hang their hat on. Its a very good start and progress with the launch of the webstore is great, however now we need some REALized progress and milestone accomplishments, which I think are coming very soon. Just my opinions. I think once we get these actual accomplishments the management team will have proven successful accomplisments and so will not have to rely on forward looking projections so much. Once we have much needed filings etc and seeing product getting sold on the webstore (with inventory) investors will be able to jump in with both feet. For now, it seems most are just waiting watching and hoping for real developments that actually HAPPEN. When will it all HAPPEN?! That is the question. When, not if, it does HAPPEN, I think management has done a fabulous job in creating all the right conditions for success and so the company should grow exponentially in the quarters thereafter but for now its still a wait and see mode because too many investors have been burned in the past by promises that never come true, which is why we are seeing so much negativity and doubt across the internet for this story, in my opinion.
GLTA!
$RFMK!