Accounting for Every Share
Did anyone else notice how in their 10Q ROBK specifies every share that was ever issued....
I thought this was just something done in the 10Ks. Anyway, I was trying to figure out just how many shares were potentially in the public float as compared to being held by those investing in the future of the company.
76,747,325 total Outstanding shares as of February 15, 2010.
Acquisition of BevSystems 1,000,000
Main Stockholder/investor 8,999,900
Employee Contracts .......8,300,000
Services Rendered ........4,610,000
Acquisitions:
RB Gaming-Catskills .....26,580,000
RB Dayton ................5,480,900
RB India JV ..............8,400,000
Funding Transactions:
Consulting Agre @ $.05 .....100,000
Nov/Dec @ .50 per share ....114,000
Stockholder debt @ .057 .....48,283
Jan/Feb/Mar '09 @ $1.00 ....285,000
Consulting Jan '09 @ $1 .....50,000
Land Purchase @ $1.00 ....3,153,675
Apr/May/Jun '09 @ $1.00 ....220,000
Consulting Agr @ $1.00 ......75,000
Jul/Aug/Sep '09 @ $1.00 ....300,000
Shawanga land @ $1 .......3,895,467
Shawanga land anti-dilu ....350,000
conn. for services @ $.50 ..100,000
Note Payable @ $.50 ........660,000
Payment of debt @ $1.00 ..1,500,000
Subscr Commitment.@ $.50...unissued.......($1,000,000)
Oct/Nov/Dec $.50 .........2,545,500
Added up these come pretty close to the Outstanding Shares listed in the last 10Q. 76,747,325.
So there are not many low priced shares that can be hitting the market at current levels.
This list which is really just a copy of the 10Q...
I think the most important part of is that ROBK has been doing business for a couple years and they have paid for land, services, acquisitions with shares mostly at valuations between $.50-1.00.
Has anything materially happened to lower the value of these acquisitions or payments or purchases to current levels?
The ANSWER is NO. Market conditions over concerns about their gambling license (and really the status of the whole Seneca Catskills Casino project) caused some concern which resulted in a sell-off to current levels. The concerns that brought the share prices to current levels have been addressed and MORE.
What is the MORE? They've taken concretes steps to increase their assets (The Big Easy) and management agreements (Edmonton Bear Casino) and we will likely hear more about these in future weeks.
I think the prospects here are huge. Go Rotate Black!
