Atrocious, pathetic numbers for Q1 and actually quite questionable. There are questions to be raised by shareholders when a company has sales of only $7k and "general and administrative" expenses of over a half million dollars. Hmmmmm
Glad I am to no longer be a shareholder in RFMK. Sorry to show negativity for the longs still in but I do not see any way to look at the Q1 report other than bad bad bad. Over 800M shares diluted to raise about half a million dollars which all seemed to have gone to "administrative" expenses for which there is a reference to an unaudited financial sheet breaking down the numbers but then it does not exist, so far on OTC anyway. Sales of about $7,500 means for $100 per unit, only about 75 units were sold in three months time??! That's about 25 units sold per month, maybe. What happened to GotVape? What happened to distributors nation-wide? I had high hopes for this company and the CEO but I can admit when I am wrong and this is clearly a loser. I still think it has potential but this CEO is going to have to really hit the books and turn things around if it is going to ever become profitable and build shareholder value. The first step would be delivering real truthful AUDITED financials as was promised a year ago; 10K and uplisting. I should think receiving $50,000 per month from Ironridge it would be possible to get a few auditors to sign off on a few documents showing a meager $7k of sales and $2k of cost of sales. BWTFDIK, right? Shareholders deserve better.
Shame to Mr Allinder. Truly pathetic.
Do or do not, there is no try.
$RFMK
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