Good point.
Where did you get those figures? Did you call the T/A directly? Just curious to know, I am.
Thanks for posting those metrics.
A few other points I wish to add are thus,
there is no telling how many shares IronRidge holds currently because as we know from the Form 10 filing, the 9.9% of the O/S worth of shares they need not report via Schedule 13g filings is in addition to the 780M shares they received via court order of which were exempt from reporting requirements. Perhaps they hold over one billion shares and as we know they are a long-term global investment firm.
Based on the fact that Mr Allinder has in some way or another canceled the shares (or warrants/options) that were held by the ex-management team, (likely warrants which are no longer exercisable so the company would refuse a request to convert them and make them fungible, which BTW does not need a court order), it could be the case that the restricted share count goes to zero as perhaps the 270M figure is just an accounting issue for now but could get straightened out soon enough and maybe most if not all of those restricted shares are going to wind up getting canceled (which would equate to a great many shares never entering the float). Just a thought, but who knows.
I should think we are all fully aware of the fact that IronRidge will continue to receive shares in exchange for the ongoing funding of $50,000 per month. One myth which needs to be dispelled is that IronRidge is necessarily obtaining those shares always at a 50% discount to the current price, this is just simply NOT TRUE, such is total speculative nonsense and guesswork spewed by anonymous paid bashers on internet message boards. Another myth is that IronRidge is each month receiving a steady bulk of shares in exchange for the funding, this is entirely UNKNOWN; the public cannot possibly know when IronRidge receives shares and how many shares it receives, it is likely IronRidge receives shares erratically and non-continuously at various price points over long periods of time. The notion that the company receives nothing from the dilutive effect of the issuances is another false assumption. Each month the company receives another tranche of $50,000 inflow of capital into the business, so after months and months of inflows, even with the business growing and handling certain operating costs, to assume management has NO cash on hand is IMO a bit absurd. It is true that the O/S continues to get diluted by the financing but it is also true that the company has a healthy balance sheet and operating cash to spend on growing the business in exchange for that dilution. Shareholders in fact get something back for that dilution and the relative valuation calculations based on these dynamics are speculative and unknown; it is not as simple as looking at dates of share structure changes and noting how many times over shareholders have been bilked out of their money, there is the other side of the equation to consider and that is how the valuation of the company has changed over time based on the inflow of capital, as well as the intangible effect those inflows have on growth (which bring the company ever closer to revenues and profits over the long term).
Yet another myth is that Allinder dilutes the O/S via IronRidge funding for his own benefit. This is absolutely a falsehood. First of all, it is in Allinders contract to receive 50M shares as part of the compensation package performing duties as CEO, therefore he has a vested interest in the PPS, so there is NO reason or incentive whatsoever Allinder would have to dilute the O/S which makes the PPS move lower (typically) and so makes his share stake worth less. Also there is no mechanism which allows the CEO to obtain more shares based on the funding agreement, so the CEO's stake always remains at the same level. The CEO is doing what is necessary for the company to obtain funding so it can grow, which unfortunately means further dilution. What I and so many others have complained about in the past is the extent to which this dilution has gone on without realized corporate progress; that is another matter. It is important to point out that the CEO does not get rich and the insiders are not enriched by the effect of dilution via the IronRidge funding. If they were, I imagine we would know of it by way of discovering that insiders and the CEO were receiving common share and preferred share issuances, but this is not the case according to the most recent filings. This was the case prior to Allinder becoming CEO, the past management team was in fact issuing themselves shares and that could be characterized by an insider enrichment scenario, but ever since Allinder became CEO, it appears the company has been cleaned out, for good and to the benefit of shareholders.
Another point to consider is if indeed IronRidge is fully committed to long-term investment into this company and they own roughly half of the common shares in the company then it is not out of the question to consider that at some point in the future they may decide to either buy it out (takeover for likely a hefty profit for shareholders) or a capital reorganization wherein there is a share restructure such that the O/S ends up to be much much smaller than it is now whilst the PPS moves up substantially. Of course this is pure speculation and would likely only be a possibility if in the distant future the company could begin pulling in real revenues and profits so as to provide IronRidge with a real return on investment for their initial investment of approximately $1.5M in the company. Just food for thought, when a large firm owns almost half of a development stage company, many exciting possibilities can occur for shareholders.
Lastly, my opinion of the recent spike in the volume and share price is that it was purely a technical rally based upon the chart movements. Indeed there seems to be a higher likelihood that the company is actually making progress and could soon be fully reporting and launch a new product which are positives for the fundamental side, so perhaps investors began buying in anticipation of this and the change in buying pressure caused an immediate bullish stampede because the stock had been in the gutter for so long. But perhaps it was all just merely a technical blip on the chart. There were rumors that someone had bought a promo so some were thinking this was merely another market pump and dump by market players, however I am skeptical. It is total speculation that such promo pumps are going on, to this day I have not yet seen any links to a specific promo regarding RFMK and even if there was, it means nothing. There is always some likelihood of this or that market participant using some money to buy a PK promo ad for a certain stock, it happens, typically there is a short term increase in volume and then it is over. Who knows what the cause was for this recent surge in the PPS but IMO it means nothing considering what the potential of the company is at this time. With so many potential developments seemingly in the near future, there is no telling what could happen fundamentally and where the PPS could go in response to those developments. Though it is also true that RFMK followers have been waiting for real corporate progress for many years and not much has actually happened, so with buying pressure dwindling and no new developments from the company, over time, the PPS could just as easily move back down.
I have always proclaimed that investors/traders should make their own buy/hold/sell determinations and I have never at any time suggested for anyone to buy, hold or sell this stock. I have shared my opinions about this company and the fundamentals, sometimes rather critical about management and company failures and negatives and at other times noting the potential positives. Who knows what the future holds for this company but all I can say is that the next few months should tell us RFMK followers a lot about this years potential for the company going forward.
Do or do not, there is no try.
GLTA
$RFMK
Where did you get those figures? Did you call the T/A directly? Just curious to know, I am.
Thanks for posting those metrics.
A few other points I wish to add are thus,
there is no telling how many shares IronRidge holds currently because as we know from the Form 10 filing, the 9.9% of the O/S worth of shares they need not report via Schedule 13g filings is in addition to the 780M shares they received via court order of which were exempt from reporting requirements. Perhaps they hold over one billion shares and as we know they are a long-term global investment firm.
Based on the fact that Mr Allinder has in some way or another canceled the shares (or warrants/options) that were held by the ex-management team, (likely warrants which are no longer exercisable so the company would refuse a request to convert them and make them fungible, which BTW does not need a court order), it could be the case that the restricted share count goes to zero as perhaps the 270M figure is just an accounting issue for now but could get straightened out soon enough and maybe most if not all of those restricted shares are going to wind up getting canceled (which would equate to a great many shares never entering the float). Just a thought, but who knows.
I should think we are all fully aware of the fact that IronRidge will continue to receive shares in exchange for the ongoing funding of $50,000 per month. One myth which needs to be dispelled is that IronRidge is necessarily obtaining those shares always at a 50% discount to the current price, this is just simply NOT TRUE, such is total speculative nonsense and guesswork spewed by anonymous paid bashers on internet message boards. Another myth is that IronRidge is each month receiving a steady bulk of shares in exchange for the funding, this is entirely UNKNOWN; the public cannot possibly know when IronRidge receives shares and how many shares it receives, it is likely IronRidge receives shares erratically and non-continuously at various price points over long periods of time. The notion that the company receives nothing from the dilutive effect of the issuances is another false assumption. Each month the company receives another tranche of $50,000 inflow of capital into the business, so after months and months of inflows, even with the business growing and handling certain operating costs, to assume management has NO cash on hand is IMO a bit absurd. It is true that the O/S continues to get diluted by the financing but it is also true that the company has a healthy balance sheet and operating cash to spend on growing the business in exchange for that dilution. Shareholders in fact get something back for that dilution and the relative valuation calculations based on these dynamics are speculative and unknown; it is not as simple as looking at dates of share structure changes and noting how many times over shareholders have been bilked out of their money, there is the other side of the equation to consider and that is how the valuation of the company has changed over time based on the inflow of capital, as well as the intangible effect those inflows have on growth (which bring the company ever closer to revenues and profits over the long term).
Yet another myth is that Allinder dilutes the O/S via IronRidge funding for his own benefit. This is absolutely a falsehood. First of all, it is in Allinders contract to receive 50M shares as part of the compensation package performing duties as CEO, therefore he has a vested interest in the PPS, so there is NO reason or incentive whatsoever Allinder would have to dilute the O/S which makes the PPS move lower (typically) and so makes his share stake worth less. Also there is no mechanism which allows the CEO to obtain more shares based on the funding agreement, so the CEO's stake always remains at the same level. The CEO is doing what is necessary for the company to obtain funding so it can grow, which unfortunately means further dilution. What I and so many others have complained about in the past is the extent to which this dilution has gone on without realized corporate progress; that is another matter. It is important to point out that the CEO does not get rich and the insiders are not enriched by the effect of dilution via the IronRidge funding. If they were, I imagine we would know of it by way of discovering that insiders and the CEO were receiving common share and preferred share issuances, but this is not the case according to the most recent filings. This was the case prior to Allinder becoming CEO, the past management team was in fact issuing themselves shares and that could be characterized by an insider enrichment scenario, but ever since Allinder became CEO, it appears the company has been cleaned out, for good and to the benefit of shareholders.
Another point to consider is if indeed IronRidge is fully committed to long-term investment into this company and they own roughly half of the common shares in the company then it is not out of the question to consider that at some point in the future they may decide to either buy it out (takeover for likely a hefty profit for shareholders) or a capital reorganization wherein there is a share restructure such that the O/S ends up to be much much smaller than it is now whilst the PPS moves up substantially. Of course this is pure speculation and would likely only be a possibility if in the distant future the company could begin pulling in real revenues and profits so as to provide IronRidge with a real return on investment for their initial investment of approximately $1.5M in the company. Just food for thought, when a large firm owns almost half of a development stage company, many exciting possibilities can occur for shareholders.
Lastly, my opinion of the recent spike in the volume and share price is that it was purely a technical rally based upon the chart movements. Indeed there seems to be a higher likelihood that the company is actually making progress and could soon be fully reporting and launch a new product which are positives for the fundamental side, so perhaps investors began buying in anticipation of this and the change in buying pressure caused an immediate bullish stampede because the stock had been in the gutter for so long. But perhaps it was all just merely a technical blip on the chart. There were rumors that someone had bought a promo so some were thinking this was merely another market pump and dump by market players, however I am skeptical. It is total speculation that such promo pumps are going on, to this day I have not yet seen any links to a specific promo regarding RFMK and even if there was, it means nothing. There is always some likelihood of this or that market participant using some money to buy a PK promo ad for a certain stock, it happens, typically there is a short term increase in volume and then it is over. Who knows what the cause was for this recent surge in the PPS but IMO it means nothing considering what the potential of the company is at this time. With so many potential developments seemingly in the near future, there is no telling what could happen fundamentally and where the PPS could go in response to those developments. Though it is also true that RFMK followers have been waiting for real corporate progress for many years and not much has actually happened, so with buying pressure dwindling and no new developments from the company, over time, the PPS could just as easily move back down.
I have always proclaimed that investors/traders should make their own buy/hold/sell determinations and I have never at any time suggested for anyone to buy, hold or sell this stock. I have shared my opinions about this company and the fundamentals, sometimes rather critical about management and company failures and negatives and at other times noting the potential positives. Who knows what the future holds for this company but all I can say is that the next few months should tell us RFMK followers a lot about this years potential for the company going forward.
Do or do not, there is no try.
GLTA
$RFMK
