I disagree. The volume in RFMK is anemic. If we even see close to 25M to 50M in daily volume, that still represents only small fraction of the total shares outstanding; about 1%. And typically we do not even see up to 50M shares trading. The other issue is that even if we do see 50M or above daily volume, there is really no way to know the real level of activity happening in the stock because a single MM or market player can use algorithmic trading bots to spin the gears of the stock, shuffling tens of millions of shares back and forth to their own accounts to make it appear as if there is volume when really there may have only been a couple real dollars actually invested or removed from the market. The O/S is now over 2B so IMO in order to see an active stock I think we begin to see at least 10% of the shares trade in a day, that would be just over 200M intraday volume.
It appears that the fall into triple zero's last month was funding via Ironridge and the fall further down to .0003 which occurred in the last week or two has likely been driven by dilutive raising of funds by the toxic funder amidst an RFMK market for the shares wherein there really exist hardly any buyers. The key is having interested buyers of stock. Why would investors be interested in RFMK stock? Because they think it may represent a decent opportunity to make money (the stock could go up). However if one looks at the chart, since March of this year when the stock fell from the 200 DMA it has continued to fall and never once had an uptick, so there are likely hardly any investors thinking that there is any opportunity to make money in the stock. For now they have no reason at all to buy stock and become a shareholder. Why? Because the failings of the CEO has made the market weary of this company. The last PR was almost three months ago in July and it featured promises of pre-orders to begin in August. It's mid October now and we have heard absolutely nothing! This inept CEO has given investors absolutely no real reason to think there is an opportunity in purchasing the stock, therefore, no buyers of the stock, and amidst a toxic seller, the stock falls and falls on low volume. This is not rocket science, it is very easy to understand. I do also think that the MM's have overplayed their hand and have had a field day with this unfortunate set of circumstances for shareholders.
At a certain point, when months and months have gone by with no corporate progress or developments, one begins to wonder if the promises from the CEO were merely lies rather than over-zealous touting of all the great things to come soon we heard from management.
This company and stock is a disaster and it is unfortunate because the product (if it exists and is ever launched) I think could have a really good chance to succeed in the market place, even with all the competition in the industry. IMO the failure is entirely on the shoulders of the failed CEO of RFMK. No 10K, no audit, no uplisting, no removal of the DTC chill, no announcement of board of directors, no new dry herb vaporizer unit, etc, etc, etc.
Not all pink sheets stock succeed, in fact most do not succeed, but that is no excuse for lack of REQUIRED information to shareholders via filings. This CEO should step down, resign, IMO.
Do or do not, there is no try.
GLTA
It appears that the fall into triple zero's last month was funding via Ironridge and the fall further down to .0003 which occurred in the last week or two has likely been driven by dilutive raising of funds by the toxic funder amidst an RFMK market for the shares wherein there really exist hardly any buyers. The key is having interested buyers of stock. Why would investors be interested in RFMK stock? Because they think it may represent a decent opportunity to make money (the stock could go up). However if one looks at the chart, since March of this year when the stock fell from the 200 DMA it has continued to fall and never once had an uptick, so there are likely hardly any investors thinking that there is any opportunity to make money in the stock. For now they have no reason at all to buy stock and become a shareholder. Why? Because the failings of the CEO has made the market weary of this company. The last PR was almost three months ago in July and it featured promises of pre-orders to begin in August. It's mid October now and we have heard absolutely nothing! This inept CEO has given investors absolutely no real reason to think there is an opportunity in purchasing the stock, therefore, no buyers of the stock, and amidst a toxic seller, the stock falls and falls on low volume. This is not rocket science, it is very easy to understand. I do also think that the MM's have overplayed their hand and have had a field day with this unfortunate set of circumstances for shareholders.
At a certain point, when months and months have gone by with no corporate progress or developments, one begins to wonder if the promises from the CEO were merely lies rather than over-zealous touting of all the great things to come soon we heard from management.
This company and stock is a disaster and it is unfortunate because the product (if it exists and is ever launched) I think could have a really good chance to succeed in the market place, even with all the competition in the industry. IMO the failure is entirely on the shoulders of the failed CEO of RFMK. No 10K, no audit, no uplisting, no removal of the DTC chill, no announcement of board of directors, no new dry herb vaporizer unit, etc, etc, etc.
Not all pink sheets stock succeed, in fact most do not succeed, but that is no excuse for lack of REQUIRED information to shareholders via filings. This CEO should step down, resign, IMO.
Do or do not, there is no try.
GLTA
