Thanks for the link.
Tom Allinder, CEO of Rapid Fire Marketing said, “We have four primary short term objectives which are to get fully reporting, get our DTC chill lifted, appoint a Board of Directors and get the new dry vaporizer to market. I appreciate HexCorp’s hard work in staying on top of the dry vaporizer development and keeping this project moving along on schedule.”
Indeed, the objective of getting fully reporting has been a goal of the CEO for a long long time. Mid to late last year the CEO was talking about "imminent" news relating to announcing the new Board of Directors and previous executives of other successful businesses who decided to join RFMK to help build the business; so it's a year later and it's still an "objective". In my opinion, the dry herb vaporizer looks like a VERY NICE product. The issue for shareholders is it does not really matter how great and "disruptive" the device is if they can only sell $7,500 worth of product per quarter. The Q1 report mentions the "objective" of getting a sales team together which sounds good for RFMK, but then there is verbage later on which states that the company foresees no change or increase in the number of employees; to be fair, perhaps this sales team will be exclusively contract sales people. I think the product could really change the industry and it has a LOT of potential, however as a long term value investor, until I see real corporate progress, I seriously doubt the ability of the CEO to push the product aggressively into the market and get sales rolling and revenues flowing. The easy way out would be to produce an outstanding product and have big tobacco love it so much they offer to buyout the company but there are two issues for RFMK in this regard. Firstly, there is no patent for the tech and not even an active trademark. Any company is going to possibly be able to reverse engineer the tech once the device is out on the market. Secondly, investors likely do not wish to wait in a stock which has been "cellar-boxed" by market manipulators for years just for the off chance that RFMK gets bought out. And why would a larger company buy them out for a substantial premium if they can just slowly buy up to a 51% stake of the O/S on the cheap (at or near par value $0.001) in order to control it? It looks like the market manipulators finally have crushed and scared away any buyers for this stock as volume and price have dwindled for weeks down to par value and below. All this while the CEO continues to increase the O/S and let it spiral out of control, spending half a million dollars on "general and administrative" expenses with no hint as to where all that money actually went and only reporting that they sold a few CannaCigs up to a pathetic $7,500 in sales. Truly sad and disturbing for shareholders. I would like to know where $500,000 dollars went (in three months time). If it is going to new offices, new inventory, new sales staff, product R&D, etc etc, then GREAT, but with ZERO transparency it does not induce any buyers to desire to come into the stock to invest IMO. For shareholders sake, lets hope that the CEO can someday produce the elusive promised audited 10K, uplist and launch the new vaporizer to the market; I think that would at least give RFMK stock a better valuation, but until we actually see real sales (number of units sold into the thousands) then IMO this company/stock is going to continue to struggle. At par value ($0.001) though, it seems as though perhaps it offers an interesting investment opportunity for those who may wish to have a speculative play in the ecig industry. I guess we shall see what happens in the end. I will be watching from the sidelines.
Do or do not, there is no try.
GLTA
$RFMK
