PITA, you have been the voice of logic and reason throughout this entire exercise. You've done your DD and have generally been criticized and chastised for what you learned and conveyed to this board. When you learned what you did about the new building scenario, it started to become evident that "the emperor had no clothes", yet you were still criticized as a groundless basher. PITA……you did good….. Thank You!
Very little of what has been stated in announcements is valid on its face. Wishfully subjective shareholder interpretation and attempts by the Company to explain away the "failure to execute" through vague re-characterization of the statements it has made have actually been somewhat successful heretofore, because people (i.e. some Revenge shareholders) will more readily believe what they want to believe than what good judgment and logic says is true.
There most certainly is no eighty million dollar contract as it was initially presented and characterized.
There is most certainly no system-wide relationship in place with Penske. If you doubt this, contact them at the corporate HQ and speak with them at the highest possible level, they’ll be happy to explain.
There is or was a Revenge Ridgeline for sale at a Penske dealership. Ridgelines, like the Pontiac GTO are and have slumped very badly in sales and perhaps the thought was that anything that might help sales would be worth a try. There's good business to be made by modifying slow selling vehicles so that they indeed might sell better, and time will tell.
There have been so many unfulfilled hopes created through selective information release and rumor that it's absolutely impossible to place blame anywhere at this juncture, and an exercise in futility to even attempt to do so. The number of shades of grey in this entire set of circumstances is now incalculable.
There will be more dilution. The only issue is when it will occur. There will be a reverse split of shares if the Company ever wants to secure public financing again, through either a private placement or a secondary offering.
The worst part is that the Company may well have lost the single most important asset that a start-up entity can ever have.... credibility.
The new IR company has its work cut out for it, but may have an ace in the hole for Mr. Collorafi et al, in the form of an entire new group of shareholders post the reverse split. Only then will the often promised yet never accomplished corporate transparency become a necessity.