Well said, agree, I do. There are over 2 Billion shares in this company and the daily average shares which allegedly trade hands hovers around 5M to 20M shares. We have seen three days in a row now of over 80% daily shorting.
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There is no way for anyone to really know if those "shares" "traded" are actually real transactions between unique participants. Even 20M shares only makes up for about 1% of the total shares, yet about that amount or less has "traded" for several weeks, day in day out to pull it down from just over par value of $0.001 into the trips $0.0006, which is a 40% decline in share price. It's comical, there is no other way to look at it IMO. I do feel sorry for longs who are only holding down here in the gutter but for those, such as myself, of whom are considering that this may be a great opportunity to buy shares and accumulate, I actually feel those folks may have lucked out having capital ready to move into the stock while the stock makes new 52 week lows. Of course the 24/7 bashers who think it's all a scam will reference the spot PPS and price decline and claim that the stock performance tells you everything you need to know about RFMK and how it somehow proves all their arguments are right; this could not be farther from the truth.
IMO the CEO must provide shareholders with clarity very very soon, it is not a nice to have, it is a requirement of transparency to the shareholders of whom OWN this company. IMO Mr Allinder has lost ALL credibility and should step down from the CEO position as soon as possible. He has failed. Over one year ago the happy talk about 10K audits, uplistings, resolving the chill, etc was all the rage and with hindsight, now the shareholders and interested RFMK followers can safely conclude that it was obviously all just a ruse, a ploy, to get those interested in the stock to buy in so the company could dump hundreds of millions of shares to line insiders pockets; Mr Fouch, et al. Some of the dilution did go to getting the company out of debt and funding the launch of a product or two, however, what good does it do when those products are no longer going to be in the product line of the company?!
The truth is that without a removal of the "chill", the stock languishes in the PK scum swamp "cellar". Those market manipulators of whom control the daily action have the ability to toy with the price and volume on a whim simply because there is no competing volume, no bids, no preponderance of buyers for the stock. Why? As you say, the CEO has given the market no reason whatsoever to take a risk in this stock. At some point empty promises and no real corporate accomplishments equate to zero investor confidence and a dried up stock at the mercy of short selling MMs and other self-proclaimed saviors of the "free" market. Sure, we know the company continues to dilute, that is a fact of micro cap start up PK stocks, but do not let the soothsayers cloud your mind with nonsense calling naked short selling and shorting PK stocks, merely a myth. It is real and it does happen. Just look at the last three sessions of trading here. Regardless of the T+3 settlement window, there is NO explanation the peanut gallery can give to provide adequate reasoning for what we have observed with the daily proportion of short sales versus total volume. The percentage of short sales recently proves without a doubt that the FINRA daily short sale metrics do NOT somehow show the MM's "legged" trades, instead, they simply show the REPORTED daily short sale volume, nothing more. For all we know, there is much, much more shorting going on at firms which do not properly REPORT all of their short sales. We know this happens on a monthly basis, regardless of what the biweekly short interest reports show, because we can all go to the FINRA website and see in the "compliance" section how on a monthly basis dozens of firms are given slaps on the wrist for not properly reporting short sales. Often the discrepancies are grossly understated and these firms are driving real companies into the ground, daily, with no real regulatory body acting to stop the criminal activity.
For the sake of this company and shareholders, hopefully the CEO will act soon and resign from the CEO position, OR, deliver REAL shareholder value by delivering on long standing promises. It's time for shareholders, who have been funding this company story for years, be given at the very least some actual transparency in the form of audited financials. All just my opinions.
Do or do not, there is no try.
GLTA
$RFMK
