I read the shareholder update and my reaction was positive. I must say, the CEO finally updating the shareholders and allowing investors to really know what is going on with the business and corporate matters is definitely a step in the right direction.
I think if we assume all that was written in the notice to shareholders was true and honest then hopefully for the sake of shareholders many good corporate events and points of progress for the company are soon to come.
In my opinion, it appears to be a very positive situation that the same group who performed the audit and accomplished the Form 10 is working with the DTC on the so-called 'big' chill. Perhaps, soon, who knows, maybe the so-called 'big' chill will become the tiniest of issues or not an issue at all. The problem though with the DTC is that the organization is a private company led by the very interests of whom play their angles in the scum swamp market place, so their process and 'requirements' to allow trading at this or that brokerage is a black box and unknown. It is not much different than the comical mafia movie scenario wherein a 'friend of mine' must be vetted to become a 'friend of ours' and so on. The financial system has been infiltrated by corrupt greedy hooligans of whom have no sense of the American way of life and morality, not to mention lack of business ethics, but that is another matter.
It is good to hear that the CEO has been working with HexCorp and close to getting the finalized unit to production. IMO once RFMK can get a brand new product to market, there could then at least be a chance for increased sales and revenues which can then finally lead to the building of shareholder value. I guess we shall see if the new dry herb unit is launched and becomes a reality.
It was somewhat disappointing to hear that the CEO intends March 2014 to the be the latest for when we can finally see that elusive audited 10K. In my estimation, if the accounting system they have put into place is so great then it should be a matter of weeks to consolidate and publish the 10K after the end of the year, not months. BWTFDIK, right?
As for the 'growth strategy', I think it is the smartest direction the CEO has intended yet to become effectively a holding company. I believe transitioning into a holding company is the right move for RFMK. Also it is a great idea to change the company name and ticker! I would agree that the business needs a fresh start and what better way to provide a fresh start by re-naming the company, acquiring a new ticker, uplisting to the OTCBB and launching a new product? I also think it is a very good sign to see that the CEO is opening up the floor to investors to provide ideas for the company. The shareholder and management relationship hinges on transparency and collaborative efforts. I think in coming up with a new name for the company the shareholders and management must decide once and for all what the nature of the business is to be for the long term. Obviously, the manufacturing of vaporizers will be a large part of the business, and I am assuming marketing services as well. If and when any other companies are acquired then their business will be a factor as well. I think it should be a very clear and bold name; keep the number of syllables to a minimum. Make the name mean something which signifies the general purpose, meaning, direction and goals of the business. I think if vaporizers are going to be only facet of the business then the company name should not have any reference to vaporizers or ecigs at all, allow the subsidiary to have that designation.
I think all in all this was a very positive and much needed notice to shareholders, I would imagine it was well received and much appreciated by all shareholders. I still think though that the Mind Technologies (B Fouch) situation needs an explanation from the CEO after all these immediate corporate efforts are accomplished. The shareholders deserve to know why and how over $500,000 of proceeds from dilution (shareholder's equity) was transferred to Mr. Fouch for some unexplained reason. The filings mention 'consulting' but IMO that is a very questionable explanation; insufficient for building of credibility and shareholder trust. If management is handing out shares to a consultant equivalent to practically all the capital raised in a year from dilution for mere 'consulting' services allegedly provided by one individual for one years worth of 'consulting' work, then something is drastically wrong with that picture. Just my opinions of course.
One of the main excerpts from the notice which peaked my curiosity was,
"We are setting up a new website for sales of this unit. We plan to add more units in the near future as I have built relationships with other vaporizer manufacturers over the last few months. Additionally, I am discussing other products with manufacturers that we can acquire and sell. More on this as we get into 2014."
It should be interesting to see what transpires for this company over the course of the next few months. I guess we will see what happens...
Do or do not, there is no try.
GLTA
I think if we assume all that was written in the notice to shareholders was true and honest then hopefully for the sake of shareholders many good corporate events and points of progress for the company are soon to come.
In my opinion, it appears to be a very positive situation that the same group who performed the audit and accomplished the Form 10 is working with the DTC on the so-called 'big' chill. Perhaps, soon, who knows, maybe the so-called 'big' chill will become the tiniest of issues or not an issue at all. The problem though with the DTC is that the organization is a private company led by the very interests of whom play their angles in the scum swamp market place, so their process and 'requirements' to allow trading at this or that brokerage is a black box and unknown. It is not much different than the comical mafia movie scenario wherein a 'friend of mine' must be vetted to become a 'friend of ours' and so on. The financial system has been infiltrated by corrupt greedy hooligans of whom have no sense of the American way of life and morality, not to mention lack of business ethics, but that is another matter.
It is good to hear that the CEO has been working with HexCorp and close to getting the finalized unit to production. IMO once RFMK can get a brand new product to market, there could then at least be a chance for increased sales and revenues which can then finally lead to the building of shareholder value. I guess we shall see if the new dry herb unit is launched and becomes a reality.
It was somewhat disappointing to hear that the CEO intends March 2014 to the be the latest for when we can finally see that elusive audited 10K. In my estimation, if the accounting system they have put into place is so great then it should be a matter of weeks to consolidate and publish the 10K after the end of the year, not months. BWTFDIK, right?
As for the 'growth strategy', I think it is the smartest direction the CEO has intended yet to become effectively a holding company. I believe transitioning into a holding company is the right move for RFMK. Also it is a great idea to change the company name and ticker! I would agree that the business needs a fresh start and what better way to provide a fresh start by re-naming the company, acquiring a new ticker, uplisting to the OTCBB and launching a new product? I also think it is a very good sign to see that the CEO is opening up the floor to investors to provide ideas for the company. The shareholder and management relationship hinges on transparency and collaborative efforts. I think in coming up with a new name for the company the shareholders and management must decide once and for all what the nature of the business is to be for the long term. Obviously, the manufacturing of vaporizers will be a large part of the business, and I am assuming marketing services as well. If and when any other companies are acquired then their business will be a factor as well. I think it should be a very clear and bold name; keep the number of syllables to a minimum. Make the name mean something which signifies the general purpose, meaning, direction and goals of the business. I think if vaporizers are going to be only facet of the business then the company name should not have any reference to vaporizers or ecigs at all, allow the subsidiary to have that designation.
I think all in all this was a very positive and much needed notice to shareholders, I would imagine it was well received and much appreciated by all shareholders. I still think though that the Mind Technologies (B Fouch) situation needs an explanation from the CEO after all these immediate corporate efforts are accomplished. The shareholders deserve to know why and how over $500,000 of proceeds from dilution (shareholder's equity) was transferred to Mr. Fouch for some unexplained reason. The filings mention 'consulting' but IMO that is a very questionable explanation; insufficient for building of credibility and shareholder trust. If management is handing out shares to a consultant equivalent to practically all the capital raised in a year from dilution for mere 'consulting' services allegedly provided by one individual for one years worth of 'consulting' work, then something is drastically wrong with that picture. Just my opinions of course.
One of the main excerpts from the notice which peaked my curiosity was,
"We are setting up a new website for sales of this unit. We plan to add more units in the near future as I have built relationships with other vaporizer manufacturers over the last few months. Additionally, I am discussing other products with manufacturers that we can acquire and sell. More on this as we get into 2014."
It should be interesting to see what transpires for this company over the course of the next few months. I guess we will see what happens...
Do or do not, there is no try.
GLTA
