I hope we see the 10K filed to the public before the elections on Nov 6th. Now that would be something I would really like to see. Obviously other factors for the stock getting resolved would be nice to see as well but I think the 10K filing is really the red meat investors have been longing for in order to really move heavily into RFMK. Just my opinion, but I tend to think that the lack of the transparency which the 10K would provide is to some degree keeping investors on the sidelines. I think after a 10K filed on EDGAR we could see the flood gates open up and more numerous and larger investors could get involved with this company. All of us dedicated longs know how far this company has come in a short amount of time because of the hard work and dedication of the "big three", but the rest of the investing world does not know. To a large degree, getting that 10K filed with the SEC brings the trust and credibility to the company such that investors can feel comfortable in knowing how they are putting their money to work and what they are getting involved in. With a 10K filing, new investors would be able to clearly see how dilution over this year has actually been used to grow the business from scratch. It would also probably show the financial status of the company which is critical for investors in deducing fair value for the shares. Without the 10K, investors must blindly feel around in the dark, with only a few old financial reports from a time when the company still did not really have operations in full swing and still had debt. From the perspective of new interested investors just glancing at RFMK and not looking deeper, they may only see the nearly doubling of the O/S in one year time period, debt without much in the way of revenues along with very high operation costs, which could give them a slanted view on RFMK and conclude it is just another pink sheet stock in the MJ sector instead of the industry leader and the company with the most potential for massive revenues going forward.
I think the filing of the 10K is the most important corp action ahead and it stands to offer critical transparency that many investors require before investing heavily into any company story.
When we see 10M, 15M, 20M shares traded intraday with basically HALF of the volume consisting of short sales, then it tells us that the shorts and flippers are in control, not the longs or the buyers. I think a large part of why the shorts are having such a tough time trying to knock the stock down lower is because there just are not very many sellers now as we are at the rather stable 200 DMA and even though the stock has gone up in the last couple of weeks, I think most positions have a cost basis that is too close already to the current price to justify taking gains in the face of how soon are the approaching elections. But there is also not much buying pressure and I think that is because of the lack of the 10K filing which shareholders were led to believe was coming in "weeks" not "months" several months ago. We dedicated longs know why there were delays but this gaff leads to credibility concerns with those interested in the RFMK but still on the sidelines waiting for transparency. I think only massive buying pressure can possibly move the shorters out and cause enough volume for the MMs to make money only on the spread as they move it higher and higher, rather than just shorting almost every bid that trickles in and then walking the PPS lower on a couple dollars worth of shares and covering low to make a small quick profit. That kind of game if left going on too long can eventually result in cascade selling in the stock. I hope that the CEO has already given the auditors the 10K and we are just waiting on them doing their work, because if the document is still not to the auditors at this point, then IMO it may not get through the process by the elections (which I have said is not the end of the world, however we know that it certainly can have a big influence on investors waiting on the sidelines and those investors not creating buying pressure could cause the stock to flounder going into the elections). Let us hope the CEO has all well in hand. I remain hopeful and think it will be accomplished.
Do or do not, there is no try.
$RFMK!
