AI
Sunday, November 04, 2012 6:03:38 PM
I'm very curious about these 30,000,000 free trading share issuances that keep happen also.
30,000,000 free trading shares issued between 8/24/12 and 9/04/12
30,000,000 free trading shares issued between 9/26/12 and 10/19/12
30,000,000 free trading shares issued between 10/19/12 and 11/02/12
3 separate occasions that 30,000,000 free trading shares were issued to somebody for an undisclosed reason.
We will not find out why those three 30,000,000 blocks of free trading shares were issued (90,000,000 free trading shares total) at least until much later this month and that is only if RFMK does their next OTC quarterly filing and they include the disclosure of all share issuances in that filing.
Right now I think we can speculate that 1 of 3 things probably are happening.
1) Somebody has been converting preferred shares
Preferred shares convert into 30 common shares each.
Somebody may have converted 1,000,000 preferred shares into 30,000,000 common shares on three separate occasions (3,000,000 preferred shares into 90,000,000 common shares total).
As of June 30, 2012, there were 12,343,000 preferred shares outstanding. Those 12,343,000 preferred shares can be converted into 370,290,000 common shares.
Since RFMK never discloses who owns the preferred shares in any of their filings we have no way of knowing who got those 90,000,000 free trading common shares that got dumped into the market during this ongoing pump&dump.
Just during the first 6 months of 2012, 8,000,000 preferred shares convertible into 240,000,000 common shares were issued for services with no disclosure about who they went to or exactly what services were being provided for those shares (screen shot from the last quarterly report).
$8,000 worth of services paid off with 8,000,000 preferred shares convertible into 240,000,000 common shares. What a cushy deal. 240,000,000 common shares for $8,000 equates to $.00003/share. I bet every RFMK shareholder would love to get shares for $.00003/share. Ah but they are not insiders so they don't get to participate in the insider enrichment scheme.
Since RFMK has never disclosed who owns any of the preferred shares we will never know who does get their shares at $.00003/share.
2) RFMK has been selling free trading stock in illegal private transactions to raise capital.
During the 3 months ending June 30, 2012, RFMK diluted 275,120,000 free trading shares into the market to raise $370,000 in capital (screen shot from the last RFMK quarterly report).
That was a conversion ratio of $.0013/share. RFMK never traded any where near as low as $.0013/share at any time during the 2nd quarter of 2012 (April 1st - June 30th). Most of the period it was trading in the $.003/share - $.004/share range. Who got those shares at more than a 50% discount to the market price?
That means that RFMK was issuing free trading shares in exchange for cash at a well below the market price. It was illegal for those shares to be free trading. I'm very curious what attorney signed the opinion letter to remove the legend on those shares.
Between June 30, 2012 and August 25, 2012, RFMK sold another 50,000,000 free trading shares in exchange for $30,000 cash. That is a conversion ratio of $.0006/share (screen shot from the last RFMK quarterly report).
If I was an RFMK shareholder I would be pretty upset that RFMK was selling shares that were illegally made free trading through the use of a bogus opinion letter from a dirty attorney at $.0006/share at a time when RFMK was trading at $.0012/share.
Who is getting free trading stock at a 50% discount to the market price? A friend of Tom Allinder? Is Tom getting a kick back from the sales of those shares?
Maybe RFMK is continuing to sell free trading shares in private transactions at a 50% discount to the market price (or more) and that is why we saw those three 30,000,000 free trading share blocks get issued over the past three months (90,000,000 free trading shares total). Those shares are getting diluted into the market helping somebody make a nice big profit.
3) Somebody is being paid in free trading shares for some kind of service to the company
RFMK has been known to pay shares for services in the past. This is a common occurrence for stocks like RFMK that do not have any money to pay their employees/consultants/service providers in cash.
There are rules in place though about paying out free trading shares for services.
It could be that somebody has been getting paid 30,000,000 free trading shares (probably illegally) each of the past 3 months for some type of services they are offering to the ticker. Maybe for IR services? Maybe for promotional services?
Maybe in the next OTC quarterly report we'll find out what those 30,000,000 free trading shares blocks are being issued for each month.
All we know for sure at this point it that it amounts to dilution which isn't good for the RFMK share price, but what else is new.
I didn't even talk about the illegal Toxic Debt arrangement that RFMK has with Ironridge Capital in this post, but here are some good links to read about that:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80277315
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80297703
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80723651
At least the TA is not gagged so nobody can claim they didn't know that dilution was happening:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81103482
30,000,000 free trading shares issued between 8/24/12 and 9/04/12
30,000,000 free trading shares issued between 9/26/12 and 10/19/12
30,000,000 free trading shares issued between 10/19/12 and 11/02/12
3 separate occasions that 30,000,000 free trading shares were issued to somebody for an undisclosed reason.
We will not find out why those three 30,000,000 blocks of free trading shares were issued (90,000,000 free trading shares total) at least until much later this month and that is only if RFMK does their next OTC quarterly filing and they include the disclosure of all share issuances in that filing.
Right now I think we can speculate that 1 of 3 things probably are happening.
1) Somebody has been converting preferred shares
Preferred shares convert into 30 common shares each.
Somebody may have converted 1,000,000 preferred shares into 30,000,000 common shares on three separate occasions (3,000,000 preferred shares into 90,000,000 common shares total).
As of June 30, 2012, there were 12,343,000 preferred shares outstanding. Those 12,343,000 preferred shares can be converted into 370,290,000 common shares.
Since RFMK never discloses who owns the preferred shares in any of their filings we have no way of knowing who got those 90,000,000 free trading common shares that got dumped into the market during this ongoing pump&dump.
Just during the first 6 months of 2012, 8,000,000 preferred shares convertible into 240,000,000 common shares were issued for services with no disclosure about who they went to or exactly what services were being provided for those shares (screen shot from the last quarterly report).
$8,000 worth of services paid off with 8,000,000 preferred shares convertible into 240,000,000 common shares. What a cushy deal. 240,000,000 common shares for $8,000 equates to $.00003/share. I bet every RFMK shareholder would love to get shares for $.00003/share. Ah but they are not insiders so they don't get to participate in the insider enrichment scheme.
Since RFMK has never disclosed who owns any of the preferred shares we will never know who does get their shares at $.00003/share.
2) RFMK has been selling free trading stock in illegal private transactions to raise capital.
During the 3 months ending June 30, 2012, RFMK diluted 275,120,000 free trading shares into the market to raise $370,000 in capital (screen shot from the last RFMK quarterly report).
That was a conversion ratio of $.0013/share. RFMK never traded any where near as low as $.0013/share at any time during the 2nd quarter of 2012 (April 1st - June 30th). Most of the period it was trading in the $.003/share - $.004/share range. Who got those shares at more than a 50% discount to the market price?
That means that RFMK was issuing free trading shares in exchange for cash at a well below the market price. It was illegal for those shares to be free trading. I'm very curious what attorney signed the opinion letter to remove the legend on those shares.
Between June 30, 2012 and August 25, 2012, RFMK sold another 50,000,000 free trading shares in exchange for $30,000 cash. That is a conversion ratio of $.0006/share (screen shot from the last RFMK quarterly report).
If I was an RFMK shareholder I would be pretty upset that RFMK was selling shares that were illegally made free trading through the use of a bogus opinion letter from a dirty attorney at $.0006/share at a time when RFMK was trading at $.0012/share.
Who is getting free trading stock at a 50% discount to the market price? A friend of Tom Allinder? Is Tom getting a kick back from the sales of those shares?
Maybe RFMK is continuing to sell free trading shares in private transactions at a 50% discount to the market price (or more) and that is why we saw those three 30,000,000 free trading share blocks get issued over the past three months (90,000,000 free trading shares total). Those shares are getting diluted into the market helping somebody make a nice big profit.
3) Somebody is being paid in free trading shares for some kind of service to the company
RFMK has been known to pay shares for services in the past. This is a common occurrence for stocks like RFMK that do not have any money to pay their employees/consultants/service providers in cash.
There are rules in place though about paying out free trading shares for services.
It could be that somebody has been getting paid 30,000,000 free trading shares (probably illegally) each of the past 3 months for some type of services they are offering to the ticker. Maybe for IR services? Maybe for promotional services?
Maybe in the next OTC quarterly report we'll find out what those 30,000,000 free trading shares blocks are being issued for each month.
All we know for sure at this point it that it amounts to dilution which isn't good for the RFMK share price, but what else is new.
I didn't even talk about the illegal Toxic Debt arrangement that RFMK has with Ironridge Capital in this post, but here are some good links to read about that:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80277315
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80297703
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=80723651
At least the TA is not gagged so nobody can claim they didn't know that dilution was happening:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81103482
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