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whoa, you deleted my post? sheesh - not every piece of good info has a link to it
I don't understand where the money is coming from to pay for all these expensive advertisements. The most recent financials show only $71,000 of cash.
Did I miss a filing where additional money was raised? Is the NY Times accepting RVNG stock as payment?
From some simple google searching looks like the NY Times ad alone cost about $125,000.
Nothing will be done. There is no enforcement of securities laws on otc stocks. Caveat emptor.
www.stocktrendreport.com
Registrant Contact:
WhoisGuard
WhoisGuard Protected (a46efede75cf49baacf854cb37d9b7fd.protect@whoisguard.com)
+1.6613102107
Fax: +1.6613102107
8939 S. Sepulveda Blvd. #110 - 732
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somebody afraid to be known?
Now these guys are just going over the top with this:
"Due to high market demand for RVNG by institutional investors, some brokers may require you to phone in your order"
http://www.stocktrendreport.com/
lol
Same deal on page 3 of New York Times Business section today, Tuesday. Full page advertisement.
"Prime Location. Experienced Team. Creative Strategy. Everything is in place..all you need to do is ACT"
What a load of bullcrap.
Inadequate disclosure - no amounts given, doesn't say who paid for it.
Gotta cost a bunch. Are they spending $10 million on stock promotion?
Don't forget the CNBC advertising as well.
sold stock at $0.40 per share I believe
damn, you mean i got to listen to find out.....thanks for the info
S2 - where do you see that info? TIA Peter
I freely admit that the price of this stock may rise over the near term. I manage my personal portfolio accordingly. I've been at this for years.
However, it is indisputable that the assets they bought less than a year ago for under $2 million are currently over-valued at this share price, a market value of over $100 million. No one would buy this company for $100 million, when they could have bought, and probably still could buy, the same set of assets for $2 million.
It is all but certain as well that a person indicted for illegal stock promotion is one of the principals involved.
The current market valuation is a chimera and will not last long term. If you guys know how to make money in the interim according to the greater fool theory, then it is certainly your right to do so.
What does bother me though is people being untruthful, if such is occuring on this forum. But that's just me. Even if untruthfulness is occurring, and if it is illegal in these circumstances, there is no enforcement of such laws today, so it is caveat emptor on the Bulletin Board. I accept that.
In any case, we are each independent people, and may invest and speak as we wish. I know who I am, I know that I am truthful, and I know that I have had long term investment success practicing what I preach. It is enough for me to know these things.
Regards,
Peter
a 20:1 reverse split occurred in May. Therefore today's share price of $0.80 is equivalent to $0.04 in early May.
Market capitalization appears to be only about $12 million currently.
$0.40 per share.
16,464,042 shares of Common Stock, $.001 par value, with no pre-emptive rights, are to be issued in exchange for all issued and outstanding shares of Common Stock on a basis of one (1) post-split share for every twenty (20) issued and outstanding pre-split shares.
Trying to figure out the current, fully diluted, share count. Here's a beginning from the May proxy:
As of April 23, 2007 there were 329,280,834 shares of Common Stock issued and outstanding, and eligible to vote for any matter which may be voted upon by the stockholders of the Corporation, in addition to 100 shares of Series A Preferred Stock with the collective voting power of 228,353,889 shares of Common Stock, for a total voting power of the equivalent of 557,634,723 shares of Common Stock. Stockholders owning 89,191,688 shares of Common Stock and 100 shares of Series A Preferred Stock, for a total voting power of the equivalent of 317,545,557 shares of Common Stock, representing 56.9% of the aggregate voting power of all shares eligible to vote, have given their written consent to the above mentioned actions
deleted
ok, fair enough, thanks
The credibility and history of the poster is quite on topic in any discussion, sir. I agree to not let that deteriorate into a shouting match, but credibility is everything.
I am short this stock at a US broker. It is perfectly legal and quite common at the mainline brokers such as Merrill and so on.
You can wait as long as you like, unless your borrow disappears which can happen at any time. Happens commonly in stocks with small float. it's a dangerous game. I manage the risk primarily by having many small positions - no big positions.
Well, i have 4000 short, so maybe there are 1250 other folks like me out there. I doubt it though - more likely talk of shorts is meant to create another false reason for buying the stock. There exists no evidence that a huge short position exists.
Have you any reply to my valuation facts - verifiable facts published by the company itself? That is, the market value of the company's stock is 75 million times $1.66 = $125 million on assets acquired for less than $2 million.
What say you, sir?
Have you any reaction to the involvement of Mr. Shull, previously indicted on stock promotion charges?
By the way, RVNG has an indicted stock promoter involved with it. He settled the charges, and therefore was not convicted.
http://www.stockhideout.com/62998-post1963.html
"Such does not appear to be the case with Robert Shull, a Penticton area promoter indicted for market manipulation in 1998. Regulatory and government records hint he is still involved in stocks, with his name linked to at least two public companies."
Yeah, you are right. I just can't seem to bring myself to buy this junk. It's the me I'm stuck with.
Regards, Peter
Here are the facts on what these reserves and rights are worth - perhaps a little more or whatever, but unless you think the sellers of these rights gave away $100 million, then the value of RVNG stock is a lot closer to 0 than to today's price.
I estimate a total value of assets under $2 million. Market value of company in stock market is over $100 million. Does that make sense to any unbiased, intelligent investor?
How much would you pay to buy the whole company - $100 million or $2 million?
La Currita - $500,000
On August 23, 2006 the Company entered into an agreement with Tara Gold Resources Corp., for the La Currita Property, which was effective as of May 30, 2006. According to the agreement the Company was to make payments of $50,000 on the 25th day of each month commencing June 2006 and ending April 2007.... the Company issued and delivered to Tara Gold Resources Corp. 250,000 restricted shares of common stock.
Las Minitas - $600,000
On August 23, 2006 the Company also entered into an agreement with Tara Gold Resources Corp., for the Las Minitas Property, which was effective as of June 1, 2006. According to the agreement the Company was to make payments of $75,000 on the date of the agreement, $225,000 by August 1, 2006, and a final payment of $300,000 was to be made November 1, 2006. Furthermore, according to the agreement on October 26, 2006, the Company issued and delivered to Tara Gold Resources Corp. 250,000 restricted shares of common stock.
Big Mike - $3000
On April 26, 2005, the Company acquired the mining rights to two claims collectively known as the Big Mike Border Gold property located in the Skeena Mining District of British Columbia, Canada, for a purchase price of $3,000.
Oh, by the way, the company has missed scheduled payments owing on these transactions...... oops!
I'm a short seller. Found a small borrow on this stock and am short it.
As far as fundamentals, the best indicator of value, as accountants would tell you, is the price determined by a transaction between an independent and knowlegable buyer and seller.
In this case that value is best determined by the price paid by RVNG for the reserves it holds. That amount is much, much lower than the market cap of the stock.
The value of those reserves did not suddenly increase by 1000% just because the stock is promoted. The simple explanation for the market cap is that the stock is being promoted so that large stockholders may sell into the hype-created market.
That is how it works, again and again, on the BB. Selling valueless paper to a gullible public. Truth is the enemy of that seller.
Again, thank you for the civil tone here.
Peter
hmmmm, well, by my way of thinking, the continued paid promotion means the company or a large stockholder or convertible debt holder has more stock to sell and therefore the price will continue down.
I could be wrong. (but please don't tell my wife that)
He is a paid stock promoter. He somewhat inadequately discloses this by reference to the disclaimer on his website.
"Please see the disclaimers on the QualityStocks.net website."
Schadenfreude has a long history here on IHUB - a history of posting about stocks that reflect precisely what he is saying. That is, hyped OTC stocks may go up short term, but long term they will return to their underlying value.
He and I have both seen the same pattern repeat hundreds of times over a period of years. All the same things are always said by the promoters and the sheepish longs... who, when the stock drops, suddenly disappear in silence.
You, on the other hand, have a two day history posting only on RVNG - which implies to me that you are one of the promoters, paid to say whatever it takes to make people want to buy the stock, regardless of truth.
Who is one to believe?
Sure, he says, the stock may go up short term.... but long term it has next to no value.... based on an analysis of verifiable facts and the wisdom of long experience.
I will give you and sliver this... you are civil in tone, which I do appreciate. Thank you.
Peter
You are so full of ______, Sliver.
The problem with dealing with liars on message boards is ..... well, they never tell the truth. I can make a thousand valid points, but liars will never say, "ok, you're right, I was just bull shi**ing"
They just say anything to try to rile up a few buyers - truth or fiction, who cares?
I'm getting deeply disgusted again like I did last summer on CSHD. I better take a break from these boards - it's too upsetting to witness day after day. Just a river of lies and fraud. No enforcement of the laws whatever. Free ride for scams.
Go for it. Take your dirty money and buy yourself a cigarette boat or whatever. You are fortunate to be able to live without guilt in your heart......unless there really is a hell.
There is no value in this stock or most of the other junk on the BB's and pinks. Truth.
Take a breath and look for some tweezers for that sliver.
There's nothing of real value in this company. Just a pump and dump. Take a look at the filings and tell us what you see in there to justify this absurd market cap.
An investor was interviewed in Barrons and said this:
"How about General Steel [GSHO]? It has a great story. The company was founded by some farmers as the first privately owned steel company in China. It scavenged equipment that was being thrown away by a local government steel mill. Deng Xiaoping came and blessed it. It recently announced joint ventures with two big Chinese steel companies. General Steel should make about 40 cents a share this year, and next year as these joint ventures start to hit, it should make $1.50, with over $2 the year after. The stock is at 3.75. Eventually mainline analysts are going to pick up coverage of these companies because they're real businesses with exciting growth stories."
THE OUTSPOKEN PETER SIRIS BRINGS a fresh approach to one of the hottest investment topics: China, which accounts for about 20% of the $45 million Guerrilla Partners fund. The Manhattan-based fund invests in China through a little-known group of Chinese companies that are listed in the U.S. and Canada.
I wouldn't put too much faith in whatever Mr. Taylor might tell you. His business is to pump near-worthless stocks, imo.
A simple google search (on the phone number) reveals a long list of failed, probably scammy, over-hyped BB's and pinks.
Take a look at the old charts for some of those tickers - it's a graveyard.
wow, your Church scored a coup with that domain name, parkavenue.org
Anyway, Dave, I think you have identified the basic problem here. All talk, no reality.
Combine that with this character's past history of deals and the conclusion becomes pretty clear.
In my opinion, Peter
SEC and NASD have stopped any enforcement efforts on OTC stocks, except once in a blue moon. It's nasty out there - the bad guys know they can get away with anything.
Today's PR said nothing at all of any value. More obfuscation by TEXG. Still no filings disclosing any real details on these supposed transactions.
All utter BS in my opinion. Good luck on your short term investment, but long term I think we all know this will go way down.
Question 1, after all the transaction hanky panky, should it actually occur, how many shares will be outstanding?
Quesiton 2, What will be the total assets and liabilities?
These are basic investor questions, which TEXG makes unanswerable.
EquityAlert.com, Inc., Innotech Corporation, Bhupinder S. Mann ...In the Matter of. EquityAlert.com, Inc., Innotech Corporation, Bhupinder S. Mann, Harmel S. Rayat, T&G2, Inc. and Virilitec Industries, Inc.,. Respondents. ...
www.sec.gov/litigation/admin/33-8306.htm
This is a Harmel Rayat stock. Google him.
That will do nothing unfortunately. With extremely rare exceptions, the SEC does not do any enforcement on bb's and pink sheet stocks.
This is one area in which crime DOES pay, thus the amazing prevalence of fraud in those markets.
This has nothing to do with shorting. Insiders are selling stock in my opinion.
the share price is still way higher than the company's value.
this is called "pump and dump" - the dump will likely continue imo
Hi Mullimatt:
sorry I didn't see your post earlier - anyway, I'm basing my statement on the following:
"In consideration for entering into the $16 million agreement which provides the $15 million of future funding as well as the $1 million of funding prior to the registration statement being declared effective by the SEC, we agreed to issue to Fusion Capital 3,168,305 shares of our common stock"
So, for starters, CSUG gets $1 million in exchange for 3.2mm shares. To a large degree this is a financing fee and does not reflect the average price the company will get for selling stock.
You are right that future take downs of this cash will be at prices much closer to the market price. However, the high cost of getting this financing started (way higher than a bank loan, for example) points to the weakness of CSUH' financial condition.
I've seen Fusion financings many times before. Generally, it's a negative signal, although not all companies using Fusion do badly. Many do, but not nearly as high a percentage as Cornell, for example.
To see this, just google Fusion, and look at charts of companies that they have financed. Not a terribly pretty picture.
Peter
well, thank you - i look forward to it when you find a convenient time