equijohn, It is difficult to have an opinion as
Post# of 11899
Posted On: 03/05/2015 12:55:36 PM
equijohn,
It is difficult to have an opinion as not many real actualized developments have occurred with this company in a very long time and also I am no longer a shareholder and have not been a shareholder for a very long time. I have no plans to become an RFMK shareholder once again because I have effectively abandoned the OTC and Pink Sheets stock market place for good. I am currently only trading currencies, commodities, equities and options.
That said, I can say that it appears that the A/S has been increased from 5B shares up to 20B shares and the O/S is basically upwards of 5B shares at this point, so the CEO has effectively diluted what had been the entire, already gigantic, O/S.
Now once again shareholders have been diluted, this time dilution to the tune of four fold the original outstanding share count. Three years ago when the CEO came on to "clean up" this company, there were about 800M shares which quickly doubled to 1.5B shares within the first few months. One can observe the rate of dilution by doing some quick "DD" but suffice it to say that over a three year period, the O/S has gone from about 800M to 5B, with another 15B authorized shares idly waiting to be issued and spun into the O/S to dilute shareholders to an even greater degree. During all of this dilution, I supported the CEO because from the appearance of things it looked as if the company was making progress, (SEC filings, audits, ecig product designs, production and supply build out, etc), however, after $50k per month, O/S at 5B and increasing and three years later, it appears that there are still only promises about the immediate, imminent future, nothing concrete or REAL. I hate to admit that the bashers were right, and I still do not agree that this company is merely a share selling scam, however what they appeared right about is how all the dilution got this company nowhere, at least so far, but at some point it is up to each individual investor to look at the track record of dilution and fund raising and judge that against whatever company progress there has been since, and from the looks of it, nothing at all has occurred.
It's a sad state of affairs for shareholders. The shareholder update mentions many excuses and reasons why there were so many delays but in the end, this company still has NOTHING to show for years of dilution and fund raising. IronRidge had agreed to pay nearly $1.5M dollars to the company over a two year period to get sales up and running along with an fully SEC reporting company but it does not look like this company has achieved either of those goals. If a management team which raises $1.5M for an operating budget cannot even get a meager few tens of thousands per quarter in sales up and running, even selling lemonade on a street corner, then I should think there is not much to be said about that management team. My opinion is that the CEO has failed and the management team has shown themselves to be utter dismal failures.
There are other problems as well, because all of this time developing the "perfect" ecig product before getting it out to market, the competitors have not stood still either, they have developed many intriguing ecig products and so the competition out on the market place is tougher than ever. Just look for instance at the V2 "EX" brand ecig, there is a small cig-sized version and a larger version (series 7) which can vape e-juice, wax or dry leaf! So basically there is already a stellar dry herb vaporizer unit (actually there are many not just one) out on the market. So RFMK has their work cut out for them if they wish to overnight go from nothing to leader in the ecig industry. The ecig industry has become extremely competitive and nothing appears to be coming out of RFMK other than promises and excuses, for years.
I do not wish to bash this company because as always I still believe, especially in the OTC market, that small start up companies can do anything at anytime, and it is still possible for this management team to get its act together and get a REAL product out to market and begin selling; even if only a few ecigs every month. The CEO could literally go out to his friends and business contacts and sell a few ecigs just to get some word of mouth marketing going. Then get a REAL website up with its OWN cart and checkout system, then get distributors to do the same and ramp up sales, slowly. This is rather an easy business model to follow yet after years there is still no product and no sales/revenues. The company has failed, they are failures.
The company is still a holding company, therefore if they are serious about this business plan then I would think it would be the highest priority for a company doing business as a 'holding' company to acquire at least a SINGLE company to be a subsidiary. After years though of being a 'holding' company this company has not a SINGLE business it is 'holding'. There is always risk to any action and decision as a CEO but Mr Allinder should learn that there is also risk to NON-action and IN-decision. As a CEO you must actively find opportunity and act to seize the advantage. This CEO appears to be akin to a deer in head-lights. For the sake of shareholders, I should hope that management ACTs 'soon' to acquire a REAL company and in so doing by way of RFMK 'holding' a REAL company, perhaps then RFMK can effectively be seen as a REAL company as well. Until then, or at the very least the actualized launch of a REAL ecig product, this appears to be nothing other than a failed 'holding' company with no assets, no business plan, no product, just shareholder updates once in a while full of promises and excuses forever looking forward to future possibilities which never wind up transpiring.
Do or do not, there is no try.
GLTY
It is difficult to have an opinion as not many real actualized developments have occurred with this company in a very long time and also I am no longer a shareholder and have not been a shareholder for a very long time. I have no plans to become an RFMK shareholder once again because I have effectively abandoned the OTC and Pink Sheets stock market place for good. I am currently only trading currencies, commodities, equities and options.
That said, I can say that it appears that the A/S has been increased from 5B shares up to 20B shares and the O/S is basically upwards of 5B shares at this point, so the CEO has effectively diluted what had been the entire, already gigantic, O/S.
Now once again shareholders have been diluted, this time dilution to the tune of four fold the original outstanding share count. Three years ago when the CEO came on to "clean up" this company, there were about 800M shares which quickly doubled to 1.5B shares within the first few months. One can observe the rate of dilution by doing some quick "DD" but suffice it to say that over a three year period, the O/S has gone from about 800M to 5B, with another 15B authorized shares idly waiting to be issued and spun into the O/S to dilute shareholders to an even greater degree. During all of this dilution, I supported the CEO because from the appearance of things it looked as if the company was making progress, (SEC filings, audits, ecig product designs, production and supply build out, etc), however, after $50k per month, O/S at 5B and increasing and three years later, it appears that there are still only promises about the immediate, imminent future, nothing concrete or REAL. I hate to admit that the bashers were right, and I still do not agree that this company is merely a share selling scam, however what they appeared right about is how all the dilution got this company nowhere, at least so far, but at some point it is up to each individual investor to look at the track record of dilution and fund raising and judge that against whatever company progress there has been since, and from the looks of it, nothing at all has occurred.
It's a sad state of affairs for shareholders. The shareholder update mentions many excuses and reasons why there were so many delays but in the end, this company still has NOTHING to show for years of dilution and fund raising. IronRidge had agreed to pay nearly $1.5M dollars to the company over a two year period to get sales up and running along with an fully SEC reporting company but it does not look like this company has achieved either of those goals. If a management team which raises $1.5M for an operating budget cannot even get a meager few tens of thousands per quarter in sales up and running, even selling lemonade on a street corner, then I should think there is not much to be said about that management team. My opinion is that the CEO has failed and the management team has shown themselves to be utter dismal failures.
There are other problems as well, because all of this time developing the "perfect" ecig product before getting it out to market, the competitors have not stood still either, they have developed many intriguing ecig products and so the competition out on the market place is tougher than ever. Just look for instance at the V2 "EX" brand ecig, there is a small cig-sized version and a larger version (series 7) which can vape e-juice, wax or dry leaf! So basically there is already a stellar dry herb vaporizer unit (actually there are many not just one) out on the market. So RFMK has their work cut out for them if they wish to overnight go from nothing to leader in the ecig industry. The ecig industry has become extremely competitive and nothing appears to be coming out of RFMK other than promises and excuses, for years.
I do not wish to bash this company because as always I still believe, especially in the OTC market, that small start up companies can do anything at anytime, and it is still possible for this management team to get its act together and get a REAL product out to market and begin selling; even if only a few ecigs every month. The CEO could literally go out to his friends and business contacts and sell a few ecigs just to get some word of mouth marketing going. Then get a REAL website up with its OWN cart and checkout system, then get distributors to do the same and ramp up sales, slowly. This is rather an easy business model to follow yet after years there is still no product and no sales/revenues. The company has failed, they are failures.
The company is still a holding company, therefore if they are serious about this business plan then I would think it would be the highest priority for a company doing business as a 'holding' company to acquire at least a SINGLE company to be a subsidiary. After years though of being a 'holding' company this company has not a SINGLE business it is 'holding'. There is always risk to any action and decision as a CEO but Mr Allinder should learn that there is also risk to NON-action and IN-decision. As a CEO you must actively find opportunity and act to seize the advantage. This CEO appears to be akin to a deer in head-lights. For the sake of shareholders, I should hope that management ACTs 'soon' to acquire a REAL company and in so doing by way of RFMK 'holding' a REAL company, perhaps then RFMK can effectively be seen as a REAL company as well. Until then, or at the very least the actualized launch of a REAL ecig product, this appears to be nothing other than a failed 'holding' company with no assets, no business plan, no product, just shareholder updates once in a while full of promises and excuses forever looking forward to future possibilities which never wind up transpiring.
Do or do not, there is no try.
GLTY
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