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In an effort to not only post about the sizable daily short sale transactions in the stock I would like to point out to investors that lately (last couple of sessions especially) the daily short sale ratio has been quite low (relatively speaking). Has anyone noticed? For instance today, the short sales versus total volume was a mere 14%, which on a historical comparison is rather muted IMO, especially when considering at times there has been daily shorting up to 60%+. I am unsure of what, if anything, can be concluded from this but I thought it was worth a mention. Perhaps those of whom bought the stock while it was moving up on it's last "run" have been selling to those of whom may be covering the shorts put on during the highs of the run. IMO it would be healthy for the future of the stock should the shorts be covering now and those of whom bought for a short term trade on the last "run" are or have already closed their positions. I think the technicals still look somewhat weak. MACD still on the decline but the RSI at just under the mid-line seems to be holding steady. Also the 50 DMA is still low but a potential golden cross coming soon is likely if the PPS and volume can be sustained. A big positive sign though is the Accum/Dist line, it seems to still be in an upward trend. Also slightly positive is the Chaikin Oscillator turning up. Though giving a negative short term outlook is the TRIX heading down. All in all I would say it is a very mixed technical picture and all longs can hope for is greater daily volume in the stock along with some fundamental news/updates from the company.
As far as the fundamentals, I am of the opinion that the overall industry changes should have conceivably made recent changes so as to open up greater business possibilities for RFMK going forward. I think the VI product line has a lot of potential and as a greater number of distributors get into the business of selling ecigs, I think RFMK stands a greater chance of making decent sales/revenues that we all know must come if we are to expect the stock to move over time. I think expectations of any new addition to the RFMK product line is all well and good, but IMO the audit and 10K is the highest priority for shareholders at this point. We do not even know how well the product has sold in Q4 2012, so IMO there is a limit to how excited we can become over any future forward looking statements about any new products in the pipeline. Shareholders need and require the audited 10K in order to move forward with investments and this has been the case since mid last year yet it seems nothing on this front has changed or been accomplished.
Where is the audited 10K??!!!!!!
How long does it take an accounting firm to audit a micro cap start up company with very little sales and revenues? I should think weeks, not months. BWTFDIK. Has anyone here done any DD on the supposed firm doing the audit? I doubt they would give someone from the public any updates or news on the audit but it would be interesting nonetheless to see what if anything they have to say about RFMK. I do not question the CEO's intention of eventually getting this company on the right path to fully reporting status and uplisted, but I do wonder why it is taking so long and why have there been so many unexplained delays.
I continue to be long and strong RFMK, but I also can say that by way of discipline itself, I cannot and will not continue to accumulate RFMK without any transparency; quarterly reports, 10K filing, shareholder updates, etc. As a loyal long term shareholder, I do not appreciate being left in the dark for extended periods of time, however if it is the case that the CEO is waiting to release news and updates because he only wishes to release just information only AFTER it has been actually accomplished, then I would think that this is a step in the right direction and I would feel totally fine about any delay of news/updates to shareholders. What would be unfortunate is to hear more empty promises and fluff from the CEO after being left the dark about corporate developments (or lack thereof) for so long. Just my opinions, take with a grain of salt, as needed.
GLTA
$RFMK
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