Redfin Network, Inc.(fka RFNN)

[MobileMadMan]

How about now (@ $.0075)?

My house is now worth more than RFNN.


:o(




Crap!

[caycehopeful]

It doesn't bother me so much that
CC and Jeffrey aren't buying. What
worries me is the Stuckert's have
apparently stopped buying shares.
Without their buying power the new
shares will keep killing this stock.

CC, you need to get James more involved
with the business and maybe he'll
start buying again. He is very successful
and I'm sure would be a great asset.


Oh and btw, RFNN TO DA MOON!

[MobileMadMan]

C.C. I'm reading through this document you presented and I can't see where it explains why a company has no BIDs or ASKs and seems to have all the MM's running for the hills!

Where are the trades?

Not even a BUY order from an Insider?

Nobody will buy RFNN at $.018???

Sad days we are in...

[carboncopy]

Friday, June 18, 2010
OTCBB vs. OTCQB... What You
Need To Know
A recent change to how SEC reporting issuers trade on the over-the-counter markets caused more than a little anxiety among those caught off guard. Until now, most small, fully-reporting issuers believed they were being listed exclusively on FINRA’s OTCBB®. However, unbeknownst to many OTC investors, there are many Fully-Reporting Issuers trading solely on what is commonly referred to as the “Pink Sheets”, owned and controlled by Pink OTC Markets, Inc. A restriction put in place in 2000, allowing only Fully-Reporting Issuers to trade on the OTCBB only reinforced this erroneous assumption, making it appear that they were the only OTC market where these securities could be quoted -- Not the case at all.

In fact, 98% of all FINRA licensed market makers place quotations on both the OTCBB AND on the Pink Sheet platform. Superior performance and functionality along with lower costs associated with Pink OTC versus the platform provided for OTCBB® trading by FINRA have further led many market makers to remove quotation of securities from the OTCBB platform, altogether, causing some 500 securities to be automatically "delisted" to the Pink Sheets even though they were current with their reporting obligations with the SEC under the Securities Exchange Act of 1934.

On April 5, 2010, Pink OTC created a new marketplace called the OTCQB, in an effort to assist investors in distinguishing Pink Sheet traded securities that are Fully Reporting Issuers from non-reporting issuers, while allowing recently delisted OTCBB® securities to get the
recognition that, while now trading solely on the Pink Sheets, are current with their obligations under the reporting requirements of the Exchange Act and are in good standing with the SEC with regards to these obligations.

This new OTCQB marketplace will ensure that investors know that Pink OTC has many Fully-Reporting Issuers approved for trading solely on the Pink OTC platform. In the future, as long as the issuer is listed with the Pink Sheets and is current in its reporting, it will be designated as an OTCQB security. If a company is late in its reporting requirements, it would be dropped to the designation of Pink Sheets –Current Information (see link below for Pink Sheet tier system). Once current again with the SEC, the Issuer will be moved immediately back to the OTCQB marketplace.

As an interesting side note, FINRA recently has been trying to dump the OTCBB. Seems they are tiring of keeping up with it, considering their main gig as a quasi governmental organization set up to monitor and regulate SEC licensed brokerage firms and representatives, and to maintain the entire NASDAQ system!

In short, it may take awhile for investors and Issuers to come to the conclusion there is no real difference between an OTCBB® listed security and a Fully Reporting Issuer trading on the Pink Sheets now under the OTCQB designation. The recent move by many market makers to pull quotes on the OTCBB® platform causing a mass delisting to the Pink Sheets may be a precursor to the end of the importance of being listed on the OTCBB®. As the old saying goes, will the last person to leave the OTCBB® turn out the lights!

For more information on listing your company’s securities on the OTCBB® and/or the OTCQBTM, please contact our firm at [phone] or email us at [e-mail]

Pink OTC Market, Inc.

OTCQB Fact Sheet

Pink OTC Market Tier Breakdown

[caycehopeful]

Did we recently move to the OTC's QB board?
Thought we had the .pk designation.

http://www.otcmarkets.com/stock/RFNN/quote


RedFins Don't Do It In The Pink!

[greenhornet1]

Thank you for sharing, Cayce! Sorry, I let my subscription lapse so I don't have PM right now.

[greenhornet1]

I guess we'll see if anything comes of it tomorrow.

[ada]

News

http://ih.advfn.com/p.php?pid=nmona&article=53660340&symbol=RFNN

[ada]

This is pretty much dead right now. There is no bid so they can't even dump shares. If they still have no cash and Asher notes due in Aug. and Sept. they will have to default on them. This is not looking good.

[MobileMadMan]

I agree with Homeland that earnings have to happens (the long promised positive cash flow) but I just have this feeling that they are purposely letting the price "do it's thing" until a certain amount of pressure selling is done. They don't want to finance another entity's stock sales. Once that group is done I believe they will start the IR machine back up and this will crank to historical highs. I keep going back to the fact that "Goldie" has so many fricken shares and he is either very gullible or going to be very profitable with this one. I have just accepted what this is and will wait until the fat lady sings!

OT: I am loving EGHT right now as it breaks out and goes for the new high for the company's history. Greater than $5 brings on the Institutions!

[Homeland]

I've given up any hope of seeing a PR or IR story. We all heard what was said. It's too expensive" and "only profits will make the stock raise in price" (Or something to that effect.) Too bad the company thinks that way. Promoting and letting people know about good stuff RFNN is doing is the way to let people know - Hey this is us, look what we've accomplished. That's a whole lot different than pumping a stock. RFNN thinks it's the same, and stated as much. But I don't run the firm, and as long as I hold stock I'm just a prisoner of sorts. They've made their position clear several times. Don't expect any announcements. Just watch the price move. The shame of ot is that they have (had) a niche market. There are others in the same niche now and they are getting stronger. I don't know how well their business is doing, but I've heard about them and whst they are doing. Can't say the same about RFNN. When a technology mag runs a story about portable handheld secure wireless payment services, I never see Red Fin's name. I do see others but nobody seems to know about RFNN. They may take out ads in trade magazines, but invetsors and anyone outside of that circle don't even know it exists. That's the real loss in not putting out news and PR.

I can't wait until after the summer when all of the newly released stock is absorbed and RFNN's PPS can go back to where it was. At least I won't be losing as much as I would be selling now. It's sad when stockholders want the price to rise because they want to get out without a huge loss. Not that the firm is doing so well and it's a hidden gem. Not anymore for me.

I don't post much any more here, mainly because I don't have anything good to post, or to get excited about here.
GLTA

[greenhornet1]

S'pose we'll ever hear anything about how this went? Jeeeesh, what a freekin' mess this is.

[MobileMadMan]

CEOs Afraid Of Going Social Are Doing Shareholders A Massive Disservice...
http://www.forbes.com/sites/victoriabarret/2012/07/12/ceos-afraid-of-going-social-are-doing-shareholders-a-massive-disservice/


J.S.???

We want to hear from you!









Go RedFin!!!
RFNN

[MobileMadMan]

WOW! No insider BUYs?

Even at a $0.03 ASK - Goldie, J.S. or C.C. won't buy their own stock.

Seems as though RFNN has hit a new low, not just in price, but in interest in the company...




:o(



Sad day...




Go RedFin!!!
RFNN

[MobileMadMan]

RFNN is FINALLY listed as a "client" on the Trans Media Group website...

It only took a few months after the original announcement.

















Go RedFin!!!
RFNN

[ada]

Not until all the Asher shares have been accounted for

[greenhornet1]

S'pose we'll ever get to moving again? Jeeesh, c'mon Jeff.

[MobileMadMan]

RedFin listed for the 2012 RetailNOW Convention in Las Vegas


2012 Las Vegas RetailNOW Convention

RetailNOW 2012 "About"










Go RedFin!!!
RFNN

[ada]

Unfortunately, from now until Sept this has nowhere to go but down. The company owes more money than it can pay, Asher has no interest in holding shares, so they will convert at 60% of the market and sell. There is not enough of a market to support the new shares. This is the death spiral. This could go sub-penny before all is said and done.

Our only hope is that after Asher is done converting, the price stabilizes, the comapny is turning a profit, the cash outlook gets better and providing the company doesn't need to borrow more money, the pps will bounce back. Until then, it is going to be bleak, IMO.

[Homeland]

I definitely agree with MMM and Cayce.

CC - Yes, we all read the 10K and Qs. We drink that stuff up, being thirsty for news of any sort. With the straightforward answers you provided, we all gain respect for you and the rest of management. Except for the small bit of sarcasm in some follow-ups, you did provide meaningful and helpful information. Thank you.

That really does help us all, including RFNN's management. This is a place for stockholders to bitch and moan, or to show their enthusiasm, as was stated before. I hope you continue to maintain a presence here on a regular basis. (It's exhausting trying to prod you into posting ). I agree that nobody wants to threaten or negatively affect RFNN, it's all frustration.

Please give some thought to the suggestions placed on the board. Adding information on your "investor's" page is a great idea. A news release every so often would also help, for the reasons given by the board members here. However, we can agree to disagree on the merits vs. costs for a news release.

We had more activity on this board in the past week than for the prior month. It shows the power of positive actions.

[caycehopeful]

I think the best way for mgt to show
solidarity and empathy for shareholders
is to forgo the freebee shares they receive
each year. When co. is profitable for 2 consecutive
qtrs., they can resume their share awards.
This would cut down on dilution and give the rest
of us a warm fuzzy feeling. After all, isn't making
shareholders feel good the most important
role of mgt?

RedFins Don't Have To Sleep To Dream!

[MobileMadMan]

My only comment about the "news" releases is that potential investors will read through news releases and NOT always take the time on 10-Q/K's. We only sift through them because WE HAVE TOO!

As I have seen over the 20+ years of investing 1-on-1 (no brokers) when news hits the wire, the stock will move, whether up or down, but when just a 10-Q/K hits the filing bucket, not much happens. Even if it is Intuit, IBM, Apple or Google.

Most alerts are set on "news" and not always "filings". A lot of the "proper" news releases sum up whats in the 10-Q/K's and present it in a clear and simple way.

I was around when RFNN was doing it this way and the stock DID move and usually UP!

We (I) am not saying to PUMP up the stock with "air", but at least 4 times a year we should see news accompany the 10-Q/K pulling out the highlights and bringing in NEW investors, not just trying to keep us old farts around.

;O)


Go RedFin!!!
RFNN

[goldapple]

MAYBE IF YOU GET THAT GUY

STOCKPICKMAVEN TO PUSH YOUR STOCK ,THE PRICE WILL GO UP, PLUS

A LITTLE TIMELY RELEASE THAT YOU ARE DOING BUSINESS WITH THIS OR

THAT BANK THAT HAS 0VER 1000 BRANCHES

INSTEAD OF PUTTING IT BURIED IN THE FILING.

THE

STOCK WOULD OF REMAINED AT HIGHER LEVELS..THEIR USED TO BE MANY

POSTERS HERE ,NOW YOU HAVE BASICLY NO POSTERS, JUST TAKE THE CO

PRIVATE IS MY OPINION....LET JAMES BUY A LITTLE MORE AND YOU

SAVE YOURSELF THE $100,000 A YEAR IN FILING COSTS AND PUT IT

BACK IN

THE BUSINESS, JMO WHAT DO I KNOW.?

[caycehopeful]

Okay enough of this stock nonsense, here
are some remedies for every day life:

THESE REALLY WORK!!

I checked this out on Snopes and it's for real!
AMAZINGLY SIMPLE HOME REMEDIES:

1. AVOID CUTTING YOURSELF WHEN SLICING VEGETABLES BY GETTING SOMEONE ELSE TO HOLD THE VEGETABLES WHILE YOU CHOP.

2. AVOID ARGUMENTS WITH THE FEMALES ABOUT LIFTING THE TOILET SEAT BY USING THE SINK.

3. FOR HIGH BLOOD PRESSURE SUFFERERS ~ SIMPLY CUT YOURSELF AND BLEED FOR A FEW MINUTES, THUS REDUCING THE PRESSURE ON YOUR VEINS. REMEMBER TO USE A TIMER.

4. A MOUSE TRAP PLACED ON TOP OF YOUR ALARM CLOCK WILL PREVENT YOU FROM ROLLING OVER AND GOING BACK TO SLEEP AFTER YOU HIT THE SNOOZE BUTTON.

5. IF YOU HAVE A BAD COUGH, TAKE A LARGE DOSE OF LAXATIVES. THEN YOU'LL BE AFRAID TO COUGH.

6. YOU ONLY NEED TWO TOOLS IN LIFE - WD-40 AND DUCT TAPE. IF IT DOESN'T MOVE AND SHOULD, USE THE WD-40. IF IT SHOULDN'T MOVE AND DOES, USE THE DUCT TAPE.

7. IF YOU CAN'T FIX IT WITH A HAMMER, YOU'VE GOT AN ELECTRICAL PROBLEM.

DAILY THOUGHT:
SOME PEOPLE ARE LIKE SLINKIES - NOT REALLY GOOD FOR ANYTHING BUT THEY BRING A SMILE TO YOUR FACE WHEN PUSHED DOWN THE STAIRS.

Oh and btw, RFNN TO DA MOON!

[carboncopy]

Guys....

Perhaps by now you're starting to see the difficulty in trying to operate a Company and at the same time pay the kind of outlandish borrowing rates that have been shown in the filings.

100%. Gimme a break. But it seems that its the best management can do at this point in time with the company and stock as it is.

Unless of course you know where the Company can borrow at a simple 20 or 30% APR or a smaller stock discount with less stock dilution. :) In this zero percent interest rate environment you'd think there would be some takers.

Sales are growing as shown in the filings and the company is turning over it's inventory.

I'm sure management would listen to any proposals anyone might have to reduce our borrowing costs.

If you have any ideas, I'm sure management is all ears.

[caycehopeful]

I read a lot of filings and this
is the first derivative explanation
I truly understand. Thanks!

If Asher converted all of their $170,500 Notes on 3/31, that liability would disappear and then show up as $388,397 of income. Strange rules but thats the way they are. The liability that the Company must carry is larger than the outstanding balance of the note itself. The derivative and liquidating liabilities carried on the books cause large swings in profit and loss. That's whay they are put down at the bottom of the P&L along with interest so you can get a truer picture of the "operating" gain or loss from operations without being skewed.

Cash flow positive and the Asher notes paid off means almost $400K hitting the bottom line as gain. I'm sure management is pedaling as fast as they can to get there.

[ada]

I get the picture now, thanks for taking the time to clarify.

[carboncopy]

Hallelujah !!! A believer!! :)

And the information is in there.

The ability or intention of the Company to repay the notes by the due date can probably be concluded by the cash on hand to pay them off. Get the picture?

According to the filings Asher has done nine notes with the Company has converted all the debt thus far to newly issued (dilutive) stock. The Company (RFNN) must, as a condition of the notes, reserve a certain number of free-trading shares with the transfer agent (the company that issues the certificates) as a condition of the note as when Asher converts, they get free-trading shares as the holding period for restricted stock is 6-months and the clock starts when they lend the money, not when they request conversion. Hense the 6-month maturity.

This type of financing to raise cash can be dangerous ( as delineated in the 10-K filing under Risk Factors). Hense the commonly referred to name "Death Spiral Financing".

Look at "Note #5 - Derivative and Liquidating Liabilities" section of the latest 10-Q and you will see the number of shares that Asher "could" convert into at the then (3/31) price of the stock with the discount they get at conversion for each note outstanding.

Look at the dates of conversion under "Note #6 - Equity Transactions" in the 3/31 10-Q and you will see the Notes entered into with Asher as well as the list of conversions and at what price. I believe Asher has a clause in their note that requires that they never own more than 4.99% of the Company stock at any one time so they dont have to file certain forms so they never convert huge chunks all at once. But when they have converted they appear to have sold rather quickly based on what I can gather by comparing the stock action to the dates of conversion. It appears (at least to me) that Asher has no desire to own a position in the stock.

Under "Note #7 - Subsequent Events" you can see three additional Asher conversions that occurred after the quarter close between 3/31 and 5/15.

There is "no limit" to the number of shares they can convert into. The higher the price the less shares. The lower the price, the more shares. Simply based on share price.

As per the terms of the Notes, the Company has the ability to pay off the notes at 150% of the principal amount means, that if a note was for $50K, it could be paid pay off for $75K (plus interest of course) at the 6-month due date. 100%+ interest. Nice huh?

As long as the stock keeps trading, the Company can sell securities to raise cash, but with the share price risk, the interest rate is very high.

Obviously the sooner the Company can get to "cash flow positive" the sooner it can control it's own destiny and stop taking "blood money".

One interesting thing to remember is that the Company has taken (by law) a certain amount of "Derivative and Liquidating Liabilities" in the event that they default on the Asher notes as shown in the liabilites section of tyhe balance sheet. As of 3/31 these Derivative and Liquidating Liabilities totalled $388,397.

If Asher converted all of their $170,500 Notes on 3/31, that liability would disappear and then show up as $388,397 of income. Strange rules but thats the way they are. The liability that the Company must carry is larger than the outstanding balance of the note itself. The derivative and liquidating liabilities carried on the books cause large swings in profit and loss. That's whay they are put down at the bottom of the P&L along with interest so you can get a truer picture of the "operating" gain or loss from operations without being skewed.

Cash flow positive and the Asher notes paid off means almost $400K hitting the bottom line as gain. I'm sure management is pedaling as fast as they can to get there.

:)

[ada]

It's somewhat clearer now after your recap and re-reading the filing. What's not in the filing of course is Redfin's ability or intention to repay the notes by the due date or let them convert to shares. The way I see it is, the current market for RFNN will not be able to bear the amount of shares needed to convert to re-pay the promissory notes without collapsing the pps.

Questions:
Is there a limit to the number of shares they can convert or is it based on the amount owed? Also, what does "terms of the note are repayment of 150% of the principal amount" mean?
Thanks

[carboncopy]

Of couse I understand. I'm a shareholder also. You gambled on the promise this technology. Technology changes every day. Look at those people who gambled on Facebook. My guess is she goes to $20.

As stated before, if investors don't even bother to try and read the filings(and stay current with their investment) and advise as to what you may not understand then not much can be done. Based on the posts here it is assumed everyone can read english. Any press release would simply be a rehash of items included in the filings and in the same language.

If someone can read plain english, they can read the filings on-line the moment (the second) they come out. Try. If an investor doesn't read or understand the filings, they shouldn't invest. Would you rather get your information from your dentist or a stock promotor?

Each filing also includes a section called "subsequent events" that details all things that happen right up until the date the report is filed. So the 3/31 10-Q had information events covered up until 5/15.

Read about the convertible notes. Read how when Asher converts their Notes to stock, the date they convert, the number of shares, and the subsequent action in the stock price. It's all in there. Each of the Asher notes is filed as an exhibit to the filings with all of the terms and conditions. Did you know that ASHER converts their notes into stock at a price of 60% of market and also gets 8% interest on their money? And they convert after only 6 months. Do the math. Read the filings. It's ALL in there. Watch the action.

I'm sure management understands investor frustration but understand management's as well. They've been at it for 7 years now and have millions of shares personally invested.

In investing, hind-sight is always 20-20. The best way to attempt to stay ahead of the curve and protect your investment is to do your due diligence, read the filings as they are the best source of information, and question management if there's some confusion or questions. If the filings aren't written in clear enough language for investors to understand, then management has a duty to clarify the explainations or rewrite the disclosure of information in a way EVERYONE can understand.

Glad the rhetoric has been toned down. But understand management is not going to "feed" investors simply because they are "hungry" for information. Especially after management feeds the investors a very expensive "banquet" of information every 90 days. Use the drive-thru (a.k.a. the filings via www.sec.gov) and pick-up the free lunch.

I'll make you a deal. I'll do my best to clarify things you may not understand (here)regarding the filings if you take the time to read them. But I cannot keep you "up to date" or engage in Company banter via any message board. That's not allowed. Hope you understand.

You get much more with sugar than you do with vinegar.

:)

CC

[ada]

CC, I'm sure you understand our frustration. The posters on this board probably hold several million shares for several years. I know that I could have put that money to better use in that time, but I have held out with the promise of this technology.

Yes we can read the reports, and they may seem easy to you, but what seems easy to me in my field of work, may not seem easy to you. The point is, if someone from the company is going to be on this board, a posting like #14520 goes a long way. Thank you for the honest explanation and try to keep us as up to date as you legally can.

[carboncopy]

Shareholders' frustration is understood. I'll bet management has frustrations as well and they don't have a website to blog on. They can't. And if they did noone would listen because it's all about the shareprice when it comes to investors. Stock is up, all is well with the world and everyone has a smile on their face.

Of course PR/IR in important. It goes without saying and I'll bet management knows that. But the Company can't post any significant news solely on it's website without going through the legal/SEC process.

Advertising is a different story.

The Company spends a significant amount of money advertising in industry publications and trade magazines such as the GreenSheet to promote sales and potential customer awareness.

Here's a good place to look and there is a story about RedFin last month:

http://www.greensheet.com/emagazine.php?issue_number=120402&story_id=2995&search_string=RedFin&search_string2=

The quarterly and annual filings contain a "boatload" of information as required by the SEC. You should use it to your advantage. "Deciphering" is not required as they are writen in clear easy to read language.

Go there. Take a look. Here's the last 10-Q:

http://www.sec.gov/Archives/edgar/data/1100394/000119983512000333/redfin_03312012-10q.htm

I'll bet one of management's frustrations stems from hearing from shareholders who do not take the time to read the filings and simply bitch about the stock price. The answers are in the filings. Between auditing, legal, accounting, and preparation better than $100,000 a year is spent on putting out those filings for YOU THE SHAREHOLDERS. Do management a favor and at least try to read them. If there are parts you don't understand, ask, and I bet management will explain as there will be no NEW information given in an explanation.

It is acknowledged that the share price is "the best way" to determine the value of your investment. But it is not the only measure of managements' continued efforts to make the Company profitable.

Of course stock appreciation and shareholder value is the ultimate goal.

[Homeland]

Yes, it does. I forgot about the SEC filing and legal fees.

Silly me. That being said though, I'm sure that everyone on this board benefited from the post you just made regarding the costs of a pess release. I wouldn't be surprised to see a few friendly posts to you, based on the tone of today's recent interchange.

While it doesn't make sense to me, particularly in view of the boatload of press releases from firms in much worse shape than RFNN, I'll have to defer on that point.

In keeping with the spirit of the conversation, I think that IR is an important, if necessary evil, expense of a public firm.

It's true I don't know the ins and outs of running a public firm. However in my own business experience, news blasts, used sparingly, have served me well in the past. Of course the press coverage was not picked up by MarketWatch or Dow Jones, but then again, that wasn't my target either. Marketing and publicity is a cost of most businesses, even private ones.

Let's all hope that RFNN can afford to make a monthly or so IR release, so the stock price will stabilize (higher) and some new investors learn about the firm.

Again, very impressive and much preferred to have a nice and even toned conversation.

[MobileMadMan]

Hey C.C.! I got a great idea...

You or Jeff can use the RedFin "Investor Relations" page on YOUR own website to give us details like you just did. With almost NO news this entire year, it is very hard to keep a head in this ball game, but my only "hook" is the fact that Goldie has so much stock and as long as he doesn't start to sell, I WILL HOLD!

Also, I recieved emails or phone conversations over the past almost 4 years with a promise of a shareholder letter, "state of the business", investor lunches, etc. and never seen one yet. Could you please at least keep your shareholders informed? Most of the info on your Investor page are out of date or blank!

If we can go somewhere to see what's up, rather than trying to decipher the 10-Q/K's it would be nice and would not cost you one cent!

Remember, no matter how much we b*tch, we are still YOUR shareholders and should be treated as if you do want us to stick around.

These boards are places for us (shareholders) to get excited about a stock or b*tch about it if things are not going so good. We should NEVER threaten anyone and I don't think that was anyone's real motive - probably just frustration. Using your website would be unbiased and a better place to post information for shareholders.

Just a thought.

Thanks and keep up the good work. Although behind schedule, cash-flow-positive could be achieved either by the end of this year or beginning of next, eh?

;o)

[carboncopy]

Another area where we have to agree to disagree is your assessment of the Company's ability and willingness to release information from time to time.

Press releases, no matter the content, typically require review by legal, and then REQUIRE Form 8-K SEC filings so that any release is made available to everyone (that darn Regulation FD) via EDGAR.

The process, while not very time consuming if it's been done before, does require significantly more than 5 minutes.

It also requires expeditures for internal company labor, legal, SEC EDGARization and filing fees. And we haven't even gotten to releasing it to the many newswires. You don't simply fax it to them and they put it up for free. No, no, no.

Depending on the number of locations you want the news release to hit, it costs cash. They don't do it for free. Everytime the company attempts to "open it's mouth", there are a significant amount of rules that must be complied with and fees that have to be paid. The life of a public company.

Not excuses. Facts.

Perhaps this might help you understand the hoops that the Company has to go through as well as the time and costs involved. It adds up quickly.

[Homeland]

CC, I'm impressed.

You stated clearly where the firm is, in a straightforward and sincere manner. This is all anyone here could reasonably expect.

While I disagree with you about IR/PR, we can disagree and still be civil. Civil begets civil. Thanks for posting.

Regarding IR/PR, IMO, it wouldn't hurt to release some information from time to time. Not pumps, but information to let us know that RFNN wants to keep investors. The growth of Redfin's client base is something to brag about. The lessening of overall debt is another. Conferences attended, someupgrade in the service provided, things like that. Even if it's one a month, at least there's some communications to the little people out here.
This could be done without cost, just by spending five minutes and typing a press release, sending it to the various investor's news agencies by fax or email.

I may still post about things that I'm unhappy about, but keep in mind that these are more to get things off of my chest then to attack any one person. Except when I want to poke someone to respond . But I'll chill with those. Again, a very impressive post CC.

Welcome back.

[carboncopy]

For those who read the Company's financial statements you will see that there is no cash.

I'm sure management is more than eager to hear of sources to borrow funds to keep the doors open at rates chaper than those being charged by Asher that include the associated stock conversions.

With resources being limited (read the liquidity and capital resources section of the 10-Q) there aren't all that many options at this point in the Company's financial situation. Promoting the stock (which is illegal by the way) may not the best place to use limited resources. Perhaps the purchase of more product to sell (at a profit) might be a better use of precious capital instead of investor relations although in the short term it may not be what the shareholders may want to hear?

Management has not given up the ship, is staying the course, and continues to be committed to making this Company a success.

The only way this company is going to be a success (a.k.a. the stock price go up) is to become profitable, have positive earnings, and have a "real" story to tell not by pumping and promoting the stock.

The financials are there for all to see. If you don't like them (or the performance of management) you can vote management out and find another team who is willing to continuously try, day in and day out, to make this company a success (with very few resources). Either that or sell your stock and move on. The largest shareholders are not management. All the largest shareholders are listed in the 10-K. Give them a call or write them a letter, have a shareholder vote, and do what you feel you have to do. But stop with the threats and accusations.

But enough of your "rants". You're absolutely right, they have no effect and will get you nowhere. The may arouse a reply, but I suspect nothing outside of what you read in the filings will ever be revealed. As a public company, management's hands are tied in many respects on what they can and cannot disclose. That's the way it is.

Management are also stockholders and you can believe that they are not happy watching their personal equity also being diluted due to having to issue stock to raise cash. All stockholders are treated equally.

Remember, it was only a few short years ago this Company was 4 or 5 million dollars in debt and had NO business. It is making progress albeit not as fast as some, or management probably likes.

Those are the facts. Like it or not.

[Homeland]

Thanks MMM. I can always count on you to state the real deal.

You have been the single best asset to this board and to RFNN.
(No offense to everyone else).

CC should take a lesson from you in the right way to promote a stock without pump. Just the facts.

Keep up the good work. Thanks for your continued input and shared iinformation.

[Homeland]

I was wondering when you would come out of the woodwork, CC.

Yes, glutton is a very good word.

Yes, everyone here is sick and tired of RFNNs disregard for private investors.

I don't need your attention and don't really care what you think. I get all of the attention and accolades I need in my line of work and from my friends and family, thank you.

RFNN has turned into a "Stinky Pinky", all at the hands of those running the firm.

Perhaps your job might be easier, raising funds, if you did something, Anything, in the way of IR/PR for the stock.

Wake up. Don't you read all of the posts here? I may be outspoken, but everyone on this board has similar things to say.
Feel free to single me out, as you have. I have broad shoulders, so I don't mind.

RFNN is having financial troubles, yet they have the money to lend to a client? Why not dilute the shares some more to lend everyone money?

As long as we are talking about transparency here, why not let us in on the consultant's role. Looking to take it private? Maybe a sale? How about some real information, instead of the defensive posture?

And by the way, thank you very much for your insightful comments and "help" in pointing to the various resources.

[MobileMadMan]

C.C. I think that EVERYONE is a little (lot) frustrated with the way that things have gone with the company. Here we are (loyal shareholders - but that are p****ed) with thousands of dollars invested with a company that promised much (IR/PR, Cash Flow Positive) and many other things, but many years later we are sitting at the lows and almost no interest in the stock. How do you combat that fact? How do you explain this one?

Thanks!

[carboncopy]

Homeland:

From the 1Q12 10-Q.

On February 29, 2012 we lent $50,000 to Ellamate, Inc., a third party that is also a customer, under the terms of a $50,000 Promissory Note. The note, which bears interest at 12% per annum, is due on August 28, 2012. As additional interest to us under the note, the lender will pay us 3% of their “residual” income over the term of the note. Residual income is defined as income derived from the profits generated by merchant service fees from the processing of credit and debit cards along with online ACH (automated clearing house transactions). A copy of the note is filed as Exhibit 10.28 to this report. We funded this note through proceeds we received from short-term borrowings during the quarter as described earlier in this report. The Company believes that the additional residual income on this note will yield up to an additional 30% return on is note beyond the 12% base interest.

You don't need to be a bank to lend money to make money.

Company is fully compliant with all rules, regulations, and reporting requirements. Breaking no laws. Please see Exhibits 31.1 and 31.2 of the most recently filed 1Q12 10-Q.

All consulting agreements, notes, etc. are filed with the quarterly or annual reports as exhibits. Everything that happens is disclosed. If you spent as much time reading as you obviously do speculating you might feel a bit better. See following link.

http://www.sec.gov/cgi-bin/browse-edgar?company=RedFin+Network%2C+Inc.&match=&CIK=&filenum=&State=&Country=&SIC=&owner=exclude&Find=Find+Companies&action=getcompany

Nothing hidden. Everyone can see the filings and major developments (via Form 8-K) within seconds on sec.gov

"Gluttons"? "Manage to get out of an annual meeting"? "Get away with"? Really? And you wonder why you don't get the attention you feel you deserve.

Your rants are rubbish and you obviously are no "legal eagle".

The aforementioned explainations are provided for those who care to take the time to do their own due diligence rather than simply rant.

Written inquiries to the Company requesting more detailed explainations on filings will be provided as the disclosure rules (Regulation FD) allow.

You may find the following link enlightening:

http://en.wikipedia.org/wiki/Regulation_Fair_Disclosure

[goldapple]

[Homeland]

Are they breaking any laws?

I'm not a legal eagle, but it seems to me that they are right on the edge in a few ways.

First, not promoting the stock or even keeping non-insiders informed about their filings and major developments. Such as the increase in dealers and the latest stuff about the consulting firm and lending money.

Second, about lending money. They aren't a bank and I don't think they are in a financial position to do so. There's more to this than we know.

Third, why the consulting firm? We know it isn't for IR/PR. What is their intent?

Unfortunately for them, when they decided to go public they also took on fiduciary responsibilities to the shareholders. Aside from the insiders, who own a vast mahority, don't they still have a legal obligation to treat the public shareholdrs in some way commencerate with those to a private investor? I'd like to file a complaint but I don't really know how or on what basis. I don't know if there are grounds for a shareholder's action, but someone with more knowlege than me might be able to share some information.

With the stock trading so low, I'm sure they want everyone to sell so that they can accumulate most of the float and then take it private. I don't care how much it costs them at this point. They certainly are costing us a ton of cash.

Do I wait for a sale? Do I hold just to save whatever is left? I just don't know.

I do know that I am more pissed than I have ever been with these gluttons. They did manage to get out of holding an annual meeting. What else can they get away with? I'm almost tempted to buy as many shares as I can at these low prices, if only to get to a point where I own enough shares to become a major stockholder so they can't ignore my rants. But it probably isn't worth it. Knowing them, they'll bankrupt the firm just out of spite.

Redfinns are RED with anger!

[goldapple]

[greenhornet1]

yep

[ada]

This sucks. All the years I held this POS because I thought the management was doing the right thing. They turned out to be like the rest of the pink sheet scammers.

[greenhornet1]

Yep. This pretty much sucks.

[Homeland]

It looks like RFNN is paying a consulting firm to either take them back private or to arrange a sale. I'm fairly sure it isn't for IR/PR. They consider that a waste of money. Yet they have enough money to lend a client 50K ??? Hmmm

I don't know how others here feel about that, but I have a few thoughts. Firstly that they are running the firm as if it's a private firm and not public, doing what they want. Second, the loan looks like a way to earn a few bucks, which indicates to me that they need operating money. Lastly, I wonder if their charter allows them to act as a lender? It isn't what they are in business to do and I'd be interested to know if they are allowed to be a lender (bank?) according to RFNNs Articles of Incorporation.

I'm kicking myself for not selling when I was about even, a few of months ago. Now that it's way down, I don't want to lose this much money. I'm sure JS and Goldie have anti-dilution clauses on their option shares. Probably all of them do. But I'm probably going to hold my shares for the year that the consulting firm is under contract. I figure they will sell or merge prior to the contract's end date.

But what the Heck do I know? It's a crap shoot. I could possibly get even or maybe make a little, or I can lose the entire amount. I was so sure of this firm when I bought in. Now that I've given up, maybe something will happen. We officially own a "stinky pinkie" now. Congratulations everone. :`(

[ada]

Red Fins are sinking

[ada]

This is getting diluted. I wonder how James feels about it?