Greetings scout,
Not sure am I what in particular you saw in this company but I know from my own perspective, while I was a shareholder, I saw potential in the "disruptive" technology which was to be the new dry herb device, though after many months with no word from the company, in my opinion, it seems that either there were delays of some sort or else management failed yet again to bring shareholder value for one reason or another; seems to be business as usual.
I think many are forgetting that according to the funding agreement with Ironridge, the company is supposedly receiving $50,000 per month funding for an operating budget in exchange for shares in the company. This is likely why the O/S continues to increase and they pushed the A/S up to 5B shares; to make room for new issuances of shares to Ironridge in exchange for cash influx. I think the real question for shareholders is, where is that money going and how is it getting used to bring eventual shareholder value? If it is just going into the pockets of insiders, like B Fouch, then I do not see RFMK bringing any eventual shareholder value, however, if the business is actually making in-roads to some success in regards to filings, 10K, audit, removing the chill and delivering on promises of a new product launch, then perhaps eventually shareholders will see the value of the business development which necessarily needed funding which happened to be dilutive. There is 24/7 bashing of the company on other message boards and the primary point of bashing is always the constant dilution. We all already know there has been massive dilution, there is typically a lot of dilution in all of the PK stocks, it is a consequence of micro cap companies with no capital seeking investment capital to fund new businesses, hence dilution, sometimes aggressive dilution to raise necessary capital to fund the launch of a new product. Mindless zombie bashers though use it as the key point in an attempt to sway sentiment. We can discuss the level of dilution here but so far no one has yet proven to me that just by looking at the level of dilution one can come to the conclusion that a company is a scam and/or never has any intention of creating a real business or real product. It's all just basher spin, speculation, innuendo and nonsense.
Ever since I removed my investment from this company I have not engaged in any further research or DD, so I'm sorry to say that I do not know at all what Green Assets is doing, if they are still a business entity or how "they" are associated with Cheryl, or even how Cheryl is associated with RFMK, if at all. In business, very frequently groups with capital have intentions to get into this or that business or industry but then it does not pan out, it means nothing. Many times, strategic plans are delayed or canceled or changed. Just because certain plans never panned out does not mean that the people touting such possibilities about the future were "dangling a carrot" or were in some way committing fraudulent statements. There is always that possibility though, there have been many fraudulent PK schemes in history and still go on to this day, self proclaimed saviors on other message boards will tell you all about it.
From what I knew of Green Assets, it was an investment firm who was backing Cheryl's emergence into the MMJ industry and together I was under the impression that they were going to acquire small MMJ businesses and/or invest in them, with Cheryl leading the way as the public spokesperson and/or CEO. All of that could still very well be under way, IMO, we just do not know what is going on behind the scenes. Mr Allinder has given RFMK followers NOTHING since July, so we have been in the dark for many months.
If you are holding long term, then being "way down" just comes with the territory, IMO. I could tell you stories of all the decades I have invested in various plays, many times losing 99% of capital, but in others gaining thousands of percentages my original capital. The real investors INVEST in the long term, the players play in the short term; both have risks. When I was down 40% in Baidu years and years ago when it was first getting started, some laughed at my investment idea and I myself questioned it many times, I almost got out at even when it eventually went back up but then decided to hang on to it for years, and it wound up profiting many fold over my original investment. Any investment decision cannot be "judged" in a narrow window of time, unless of course it is intended to be a short term day or swing trade. I day trade commodities and currencies but I invest in companies for the long term. Many investments in my day caused me to scratch my head one too many times, but over the long run, it has made me a patient fundamental investor. Many laugh at the prospect of "investing" in PK stocks for the long term and indeed I have decided to not put capital into any PK stocks any longer but because of a specific reason, that reason being, too much of the PK market has become entirely manipulated by crony day trading firms who use illegal market maneuvers to siphon money out of these illiquid volatile no-name PK stocks. The DTC is complicit and the SEC/FINRA just allow it to go on and whenever they do catch these firms engaging in illegal naked short selling and other short selling schemes, pump and dumps and message board corruption (bashing and shorting), etc, they just give them slaps on the wrist with small fines and allow them to continue, business as usual. It also happens on the big exchanges but because the pool of capital is much larger the extent to which the manipulation causes real losses to real investors is mitigated to some degree. IMO the failures to deliver in the market will eventually bring down the entire system.
I think all RFMK'ers can hope for is the CEO coming out with a shareholder update or some kind of news that informs shareholders about what is going on with the business. For a CEO to continue to dilute each and every month as the PPS crashes to the cellar without any word at all or news to inform us of the progress of corporate goals is completely irresponsible and destroys credibility among the investing base and the market. At the very least, the audit should have been completed by now, and the new alleged dry herb vaporizer should have launched a month ago but here RFMK sits with no announcements from management and no signs of any business progress. It's a sad state of affairs for shareholders. I happen to think Cheryl's involvement or lack thereof has absolutely nothing to do with anything anymore. Shareholders need to be concerned about the business and the CEO right now. It's very simple, if the CEO gets real corporate goals accomplished, there would likely be something for investors to see value in and so perhaps the stock would follow, but with months of nothing other than dilution happening and no one knows where the $50,000 per month is going, there is effectively no reason for any investor to throw money into a dark abyss.
I have RFMK in my watch lists but until I see real news, developments, filings, product with reviews, I remain on the sidelines, not to mention there are many stocks hitting all time highs right now in the market, so many opportunities elsewhere, IMO, especially in the currency markets.
May the force be with you.
GLTY
Not sure am I what in particular you saw in this company but I know from my own perspective, while I was a shareholder, I saw potential in the "disruptive" technology which was to be the new dry herb device, though after many months with no word from the company, in my opinion, it seems that either there were delays of some sort or else management failed yet again to bring shareholder value for one reason or another; seems to be business as usual.
I think many are forgetting that according to the funding agreement with Ironridge, the company is supposedly receiving $50,000 per month funding for an operating budget in exchange for shares in the company. This is likely why the O/S continues to increase and they pushed the A/S up to 5B shares; to make room for new issuances of shares to Ironridge in exchange for cash influx. I think the real question for shareholders is, where is that money going and how is it getting used to bring eventual shareholder value? If it is just going into the pockets of insiders, like B Fouch, then I do not see RFMK bringing any eventual shareholder value, however, if the business is actually making in-roads to some success in regards to filings, 10K, audit, removing the chill and delivering on promises of a new product launch, then perhaps eventually shareholders will see the value of the business development which necessarily needed funding which happened to be dilutive. There is 24/7 bashing of the company on other message boards and the primary point of bashing is always the constant dilution. We all already know there has been massive dilution, there is typically a lot of dilution in all of the PK stocks, it is a consequence of micro cap companies with no capital seeking investment capital to fund new businesses, hence dilution, sometimes aggressive dilution to raise necessary capital to fund the launch of a new product. Mindless zombie bashers though use it as the key point in an attempt to sway sentiment. We can discuss the level of dilution here but so far no one has yet proven to me that just by looking at the level of dilution one can come to the conclusion that a company is a scam and/or never has any intention of creating a real business or real product. It's all just basher spin, speculation, innuendo and nonsense.
Ever since I removed my investment from this company I have not engaged in any further research or DD, so I'm sorry to say that I do not know at all what Green Assets is doing, if they are still a business entity or how "they" are associated with Cheryl, or even how Cheryl is associated with RFMK, if at all. In business, very frequently groups with capital have intentions to get into this or that business or industry but then it does not pan out, it means nothing. Many times, strategic plans are delayed or canceled or changed. Just because certain plans never panned out does not mean that the people touting such possibilities about the future were "dangling a carrot" or were in some way committing fraudulent statements. There is always that possibility though, there have been many fraudulent PK schemes in history and still go on to this day, self proclaimed saviors on other message boards will tell you all about it.
From what I knew of Green Assets, it was an investment firm who was backing Cheryl's emergence into the MMJ industry and together I was under the impression that they were going to acquire small MMJ businesses and/or invest in them, with Cheryl leading the way as the public spokesperson and/or CEO. All of that could still very well be under way, IMO, we just do not know what is going on behind the scenes. Mr Allinder has given RFMK followers NOTHING since July, so we have been in the dark for many months.
If you are holding long term, then being "way down" just comes with the territory, IMO. I could tell you stories of all the decades I have invested in various plays, many times losing 99% of capital, but in others gaining thousands of percentages my original capital. The real investors INVEST in the long term, the players play in the short term; both have risks. When I was down 40% in Baidu years and years ago when it was first getting started, some laughed at my investment idea and I myself questioned it many times, I almost got out at even when it eventually went back up but then decided to hang on to it for years, and it wound up profiting many fold over my original investment. Any investment decision cannot be "judged" in a narrow window of time, unless of course it is intended to be a short term day or swing trade. I day trade commodities and currencies but I invest in companies for the long term. Many investments in my day caused me to scratch my head one too many times, but over the long run, it has made me a patient fundamental investor. Many laugh at the prospect of "investing" in PK stocks for the long term and indeed I have decided to not put capital into any PK stocks any longer but because of a specific reason, that reason being, too much of the PK market has become entirely manipulated by crony day trading firms who use illegal market maneuvers to siphon money out of these illiquid volatile no-name PK stocks. The DTC is complicit and the SEC/FINRA just allow it to go on and whenever they do catch these firms engaging in illegal naked short selling and other short selling schemes, pump and dumps and message board corruption (bashing and shorting), etc, they just give them slaps on the wrist with small fines and allow them to continue, business as usual. It also happens on the big exchanges but because the pool of capital is much larger the extent to which the manipulation causes real losses to real investors is mitigated to some degree. IMO the failures to deliver in the market will eventually bring down the entire system.
I think all RFMK'ers can hope for is the CEO coming out with a shareholder update or some kind of news that informs shareholders about what is going on with the business. For a CEO to continue to dilute each and every month as the PPS crashes to the cellar without any word at all or news to inform us of the progress of corporate goals is completely irresponsible and destroys credibility among the investing base and the market. At the very least, the audit should have been completed by now, and the new alleged dry herb vaporizer should have launched a month ago but here RFMK sits with no announcements from management and no signs of any business progress. It's a sad state of affairs for shareholders. I happen to think Cheryl's involvement or lack thereof has absolutely nothing to do with anything anymore. Shareholders need to be concerned about the business and the CEO right now. It's very simple, if the CEO gets real corporate goals accomplished, there would likely be something for investors to see value in and so perhaps the stock would follow, but with months of nothing other than dilution happening and no one knows where the $50,000 per month is going, there is effectively no reason for any investor to throw money into a dark abyss.
I have RFMK in my watch lists but until I see real news, developments, filings, product with reviews, I remain on the sidelines, not to mention there are many stocks hitting all time highs right now in the market, so many opportunities elsewhere, IMO, especially in the currency markets.
May the force be with you.
GLTY
