PrimeTime, welcome to the IH board, where the true longs actually discuss fairly and openly the real deal for RFMK.
The filing just shows the official details of the equity financing that the company received by way of doing business with the finders named in the filing.
It looks like $643k was obtained for 145.5M share issuance. The negative is that it further increases the OS from the already huge 1.3B level, but the positive is obviously the funding for immediate operations. The company was already starting out with zero debt so this adds $643k onto the balance sheet as operating cash which is great for growth. The added transparency also instills confidence because it shows that the CEO was serious about the imminent funding. The other interesting note is that the funder basically got a cost basis at about $0.0045 per share. It states in the filing that the funder is not to short sell a single share for a half a year and typically the also stipulate in the contract that the firm will attempt to at least wait for double the price for any potential exit, to capture the principle from the equity funding transaction, so just a guess but perhaps Ironhedge would wait until $0.009 before even thinking of selling a single share, not to mention any time constraints already in place.
It is a very positive development, but we longs who do not erroneously place odds on the CEO accomplishing what he had been planning to do and instead faithfully wait to see it happen already knew these kind of filings and corporate actions were going to be coming down the pipe. The 10K and everything else is coming as well, it's only a matter of time. RFMK is closest to a sure thing in the world of micro caps that I have ever seen. With this new capital on the books to be used for operations immediately the stock valuations I should think would jump rather abruptly, perhaps even as early as the next trading session or once most realize how this funding package has changed the growth path and fundamental valuations. This capital paves the way for tens of thousands of canna it's to be ordered. Exciting times for RFMK!
Do or do not, there is no try.
$RFMK!
It looks like $643k was obtained for 145.5M share issuance. The negative is that it further increases the OS from the already huge 1.3B level, but the positive is obviously the funding for immediate operations. The company was already starting out with zero debt so this adds $643k onto the balance sheet as operating cash which is great for growth. The added transparency also instills confidence because it shows that the CEO was serious about the imminent funding. The other interesting note is that the funder basically got a cost basis at about $0.0045 per share. It states in the filing that the funder is not to short sell a single share for a half a year and typically the also stipulate in the contract that the firm will attempt to at least wait for double the price for any potential exit, to capture the principle from the equity funding transaction, so just a guess but perhaps Ironhedge would wait until $0.009 before even thinking of selling a single share, not to mention any time constraints already in place.
It is a very positive development, but we longs who do not erroneously place odds on the CEO accomplishing what he had been planning to do and instead faithfully wait to see it happen already knew these kind of filings and corporate actions were going to be coming down the pipe. The 10K and everything else is coming as well, it's only a matter of time. RFMK is closest to a sure thing in the world of micro caps that I have ever seen. With this new capital on the books to be used for operations immediately the stock valuations I should think would jump rather abruptly, perhaps even as early as the next trading session or once most realize how this funding package has changed the growth path and fundamental valuations. This capital paves the way for tens of thousands of canna it's to be ordered. Exciting times for RFMK!
Do or do not, there is no try.
$RFMK!
