Posted On: 09/16/2013 8:03:32 PM
Post# of 11899
This is an opinion board and there have not been many posts here lately so I guess I will share my opinion for whatever it's worth. I personally think the CEO has much to answer for. Any shareholder(s) of whom invested in this company for a year or longer has been absolutely crushed by price depreciation and dilution. Dilution in and of itself is not the end all worse thing despite what many 24/7 bashers will tell you. If the company can use the dilution to raise decent funding for operations and then use that capital wisely to kick start the business then it can work.
Many times before I have explained what can happen though if the CEO allows the slippery slope of dilution to cascade into an uncontrollable spiral. Any further fund raising is forced to be done in a stock with basically no interested buyers and a share price which is effectively cellar boxed by penny stock manipulators. As the company attempts to raise capital with dilution, the sharks swarm and tank the PPS over time (constant down-trend and it never recovers until they want it to), then, typically for a very brief time period they will sky rocket the price while they are over-loaded with shares that they wish to dump. The lemming day traders see day trading opportunities and they all pile into the stock for a few days as it goes up day after day sometimes over 100%+. Then as it goes higher and at the top, the shady market participants dump all their stock on retail traders late to the party. The stock tumbles and crashes back down to the floor and all the paid bashers pound the table about how management diluted into the "run" and killed the momentum and so on and so forth about how they are obviously scammers and the company is all a scam. Meanwhile usually the company management does not even realize what happened to the stock in a few days time until it is all over. This is why there are so many pump and dump operations in the penny scum swamp. The SEC seems to allow it so it will likely continue. The DTCC has their own agenda (protecting their brokers and brokerages of whom themselves take part in these pump and dump schemes, naked shorting tons of phantom shares, etc) so under the guise of "protecting shareholders" they issue various forms of freezes "chills" and "locks".
Who knows what the CEO is really doing for shareholders, day in and day out. I cannot imagine much is happening because months ago he made a statement in a PR that his very first order of business (highest priority) was getting the audited financial statements to the SEC and thereafter submitting the 211 to FINRA, however, nothing has happened. Supposedly there is a dry herb vaporizer (maybe) coming "soon" but that was stated months ago as well. I am just glad to be on the sidelines watching from afar. Back in the early part of this year I was giving Mr Allinder a few more months to get the audit completed but that never happened so a while back I relinquished my status as an RFMK shareholder (long). I personally still see potential in RFMK the company and the product as well (if it is ever launched). However, management has left many questions unanswered. The most glaring issue in my opinion is the $500,000 handed over to a company insider of whom I guess is still part of mindspring.com which is on their PR's as a supposed investor relations contact, but I myself was a large shareholder for over a year and out of all the correspondence I sent to the CEO, I never once, not once, received a reply, so this alleged "investor relations" group or individual is just smoke and mirrors, else it is completely in-effective, as are RFMK's "sales" and "revenue", which border on the suspicious as $6,000 in sales would mean literally only a handful of ecig units were sold.
What happened to GotVape? What happened to all of the Ecig stores in California, Arizona, etc? What happened to online sales and marketing? Cheryl did a great job with social media and giving the brand initial exposure but she can only do so much, there was absolutely zero follow-through with any online marketing presence (besides the MyKayla fiasco which likely netted zero sales).
I agree that the new vaporizer, if it exists, looks like a pretty nice device and it should do quite well against the competition, if not disrupt most of the competitions' sales. The problem seems to be the pace of corporate progress. I have no idea what the CEO is doing day to day, but it does not seem like much is happening. If and when the company begins actually moving along with marketing, sales, DISCLOSURE, AUDIT and financial filings (required), then perhaps I would once again look to accumulate the stock but for now I would not touch RFMK with a ten foot pole. I will not become a 24/7 basher just because I am not a shareholder but I cannot say that I think the CEO has done a great job because shareholder value has not increased, instead, shareholders have been taken to the wood shed and ultimately it is the fault of the CEO. "Imminent", "soon", "great things coming..." are just empty promises if so much time goes by and such statements continue appear in PR's but months go by and nothing actually ever gets accomplished. Unfortunately I must say, in my opinion, this company story looks to be about over, it has run it's course and has turned out to be a failure. It is not surprising, most penny stocks fail, only a rare few succeed.
Hopefully for the companys sake and the last of the die-hard shareholders still left in RFMK, the CEO pulls it together and accomplishes even just one of his many corporate goals. I imagine IronRidge cannot be very happy with their investment into RFMK watching $50,000 per month go out the door and meanwhile the value of their holdings continues to shrink from under par value to $0.0001 per share. The 200 DMA is still just a tick or two above par value but even so it's not looking good for RFMK technically. Low volume (vs the size of the float) and on top of that we continue to see shennanigans in the trading of the stock (T-trades after hours at new 52 week lows) and continuous daily shorting, etc, meanwhile the stock is still in a DTC chill.
I wonder how those new offices are working out for management as there is effectively no sign of business whatsoever, no sales, no marketing effort, nada. Seems it was just another waste of capital. For manufacturers, "ramping up" assumes that the business plan will be to eventually use the supply chain build-out to get product flowing through distributors to consumers, etc, but for RFMK, it meant ordering thousands of units they never sold and right now those units are just sitting in boxes somewhere. CEO noob 101 mistake, first establish real demand and then "ramp up" marketing so that "sales" can actually begin to "happen".
How embarrassing, how embarrassing.
Do or do not, there is no try.
$RFMK
Many times before I have explained what can happen though if the CEO allows the slippery slope of dilution to cascade into an uncontrollable spiral. Any further fund raising is forced to be done in a stock with basically no interested buyers and a share price which is effectively cellar boxed by penny stock manipulators. As the company attempts to raise capital with dilution, the sharks swarm and tank the PPS over time (constant down-trend and it never recovers until they want it to), then, typically for a very brief time period they will sky rocket the price while they are over-loaded with shares that they wish to dump. The lemming day traders see day trading opportunities and they all pile into the stock for a few days as it goes up day after day sometimes over 100%+. Then as it goes higher and at the top, the shady market participants dump all their stock on retail traders late to the party. The stock tumbles and crashes back down to the floor and all the paid bashers pound the table about how management diluted into the "run" and killed the momentum and so on and so forth about how they are obviously scammers and the company is all a scam. Meanwhile usually the company management does not even realize what happened to the stock in a few days time until it is all over. This is why there are so many pump and dump operations in the penny scum swamp. The SEC seems to allow it so it will likely continue. The DTCC has their own agenda (protecting their brokers and brokerages of whom themselves take part in these pump and dump schemes, naked shorting tons of phantom shares, etc) so under the guise of "protecting shareholders" they issue various forms of freezes "chills" and "locks".
Who knows what the CEO is really doing for shareholders, day in and day out. I cannot imagine much is happening because months ago he made a statement in a PR that his very first order of business (highest priority) was getting the audited financial statements to the SEC and thereafter submitting the 211 to FINRA, however, nothing has happened. Supposedly there is a dry herb vaporizer (maybe) coming "soon" but that was stated months ago as well. I am just glad to be on the sidelines watching from afar. Back in the early part of this year I was giving Mr Allinder a few more months to get the audit completed but that never happened so a while back I relinquished my status as an RFMK shareholder (long). I personally still see potential in RFMK the company and the product as well (if it is ever launched). However, management has left many questions unanswered. The most glaring issue in my opinion is the $500,000 handed over to a company insider of whom I guess is still part of mindspring.com which is on their PR's as a supposed investor relations contact, but I myself was a large shareholder for over a year and out of all the correspondence I sent to the CEO, I never once, not once, received a reply, so this alleged "investor relations" group or individual is just smoke and mirrors, else it is completely in-effective, as are RFMK's "sales" and "revenue", which border on the suspicious as $6,000 in sales would mean literally only a handful of ecig units were sold.
What happened to GotVape? What happened to all of the Ecig stores in California, Arizona, etc? What happened to online sales and marketing? Cheryl did a great job with social media and giving the brand initial exposure but she can only do so much, there was absolutely zero follow-through with any online marketing presence (besides the MyKayla fiasco which likely netted zero sales).
I agree that the new vaporizer, if it exists, looks like a pretty nice device and it should do quite well against the competition, if not disrupt most of the competitions' sales. The problem seems to be the pace of corporate progress. I have no idea what the CEO is doing day to day, but it does not seem like much is happening. If and when the company begins actually moving along with marketing, sales, DISCLOSURE, AUDIT and financial filings (required), then perhaps I would once again look to accumulate the stock but for now I would not touch RFMK with a ten foot pole. I will not become a 24/7 basher just because I am not a shareholder but I cannot say that I think the CEO has done a great job because shareholder value has not increased, instead, shareholders have been taken to the wood shed and ultimately it is the fault of the CEO. "Imminent", "soon", "great things coming..." are just empty promises if so much time goes by and such statements continue appear in PR's but months go by and nothing actually ever gets accomplished. Unfortunately I must say, in my opinion, this company story looks to be about over, it has run it's course and has turned out to be a failure. It is not surprising, most penny stocks fail, only a rare few succeed.
Hopefully for the companys sake and the last of the die-hard shareholders still left in RFMK, the CEO pulls it together and accomplishes even just one of his many corporate goals. I imagine IronRidge cannot be very happy with their investment into RFMK watching $50,000 per month go out the door and meanwhile the value of their holdings continues to shrink from under par value to $0.0001 per share. The 200 DMA is still just a tick or two above par value but even so it's not looking good for RFMK technically. Low volume (vs the size of the float) and on top of that we continue to see shennanigans in the trading of the stock (T-trades after hours at new 52 week lows) and continuous daily shorting, etc, meanwhile the stock is still in a DTC chill.
I wonder how those new offices are working out for management as there is effectively no sign of business whatsoever, no sales, no marketing effort, nada. Seems it was just another waste of capital. For manufacturers, "ramping up" assumes that the business plan will be to eventually use the supply chain build-out to get product flowing through distributors to consumers, etc, but for RFMK, it meant ordering thousands of units they never sold and right now those units are just sitting in boxes somewhere. CEO noob 101 mistake, first establish real demand and then "ramp up" marketing so that "sales" can actually begin to "happen".
How embarrassing, how embarrassing.
Do or do not, there is no try.
$RFMK
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