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The problem with the idea of posting here too is that DM would have to prove himself to say who he is. I can go and make an account and claim to be DM and write whatever I want. With the lack of PR's out there, do you think the company is gonna write one up to say i'm a fake on the boards? Anything that has to be official in terms of clarification or answering specific questions should be done on the official website, in an interview by one of these stock web sites, or by PR. everything else does not have an ounce of credibility than he said she said
If DM is gonna do any posting to clarify stuff, it should not be done here, it should be done on the official website for all investors to see. This board has a lot of people who are not shareholders and a lot of shareholders do not come to this board. I do agree though that a weekly update, on the official website, would help the company out a lot. DM, i left you a message sunday night and have not heard back...has anyone talked to him this week?
Why is everyone so concerned about what was sold back in September? It does nothing for where we are now. The biggest mistake the company did was the split. The second in my opinion was giving restricted shares out to people who could lift the restriction BEFORE the show was halfway through the season.
We are at an impass now. Either you ride it out, or you sell and leave with whatever you get. Hopefully the restricted shares will all be sold in the next couple of weeks, the company gets the financing partnership together, they complete the season with some big names (maybe even a 3man allstar panel of former drivers who offer input to the commish), and then this company offers a huge buyback bringing the stock back to a quarter. At that point a reverse split takes us back to a dollar and maybe some chance of getting recognized again.
Its gonna be a long long LONG road, so grab a beer or two every day and relax....
In one sense Flat, it makes sense not to air another rerun. If this is such as an infomercial and they are paying for the spot, then they might as well not spend more money on a rerun and save the slot for a later time. In the end it all depends on how the contract was written with spike, but maybe they have 13 episodes and the days could be maneuvered. i am hoping spike is working with us...
Dave I know monitors this board, and I have heard that the Schaeffers spend useless time here as well when Dave could monitor for them.
I have only one request: GET THE REAL STORY OUT, GOOD OR BAD, AND LET US KNOW WHAT THE TRUE FUTURE HOLDS HERE!
I personally would like to know how many more restricted shares are still to become unrestricted, are we still airing 13 episodes, and whats the status on financing and new networks?
Its simple to answer, just send out a PR that explains the fate of Reality Racing. I am tempted to fly down to Bronson myself to find out...
Scotch, you know I am with you on this stock for the long run. HOWEVER, Flat has a point or two that are very valid. When weston left, RRGI could and SHOULD have put out a PR about him leaving. He was a board memeber and the director, 2 big roles that need to be filled and explained as soon as it happened. With that never having been done, that last line makes no sense. Did the schaeffers just assume that all investors knew about it? and if sullivan getting hired has nothing to do with weston leaving, then why even put it in the PR? by saying that u are pretty much hinting that it does. I want to know if weston is gone, who is the current producer and director who is getting the final episodes done, and what are his credentials. I think as an investor everyone has a RIGHT to know. Put that out as a PR already
They also had ample time to add in that press release why reruns were being aired and if the company was extending the season to show all 13 episodes.
The company had a fiduciary responsibility to us, and they are far from handling it. Has anyone talked to Dave since saturday?
I just checked out your myspace page and noticed that above the photo of you in the race car it says "Watch me on Reality Racing Next show July 28th 9:00 am Spike TV"
what makes you think the show will actually air? Is it a rerun or a new episode, or you just write that in every week with a new date? Do you know for sure or were you asked to promote it every day like the other reality racing affiliated accounts. I am long this stock, but I'd like to also make sure it airs if its posted that way...
anyone call RRGI? anyone have the number there? this board is dead today
New to the board been with EDEX for quite a while. should have sold months ago when it was in the teens. Tom always tells me they are on point but they always miss....any news updates or recaps as to why we are sitting at around 3 cents?
I am pretty sure Fox Sports is national, but it is a cable station. Plus I think they are linked to the Fox Sports website. That would have done us better in terms of directly hitting the Nascar market. I also mentioned to DM that a great marketing strategy would be to actually buy ad time during a huge nascar race or get exposure at the next big Nascar event. He mentioned a booth with girls wear and passing out reality racing merchandise would be a good idea. Hopefully the marketing aspect of the company gets its act together because as of right now, the NASCAR market doesn't even know about us.
The paraphrased version of my convo with DM was that the Schaeffers have a lot of new ideas for reality TV. Their plan is to bring out new shows under its own company or shell with its own private placement and funding. It was DM who told them that the problem with the current model of Reality Racing is that there is only one show. If it tanks, then the company is dead. If the Schaeffers were to instead change the company to a name such as Reality Productions with multiple shows under them, then investors have more legs to stand on. It wouldn't be an all or nothing stock anymore. Even though that idea has been introduced, there has been no solidifying the idea as law. Thus I doubt the financing now would go for new shows that are not Reality Racing. This is my take, but I am sure a call to DM would clarify it more.
Anyone know why Fox Sports never signed on for the show?
Scotch,
When DM talked to me about looking into an investment firm, the purpose was to fix the financing with Reality Racing, not any new show. The ideas of new shows were on the table and at that time, it was supposed to be new shows coming out as their own companies. If the financing is for a new show, I doubt it would be mentioned on the Reality Racing website.
I can't access the calendar on Spike's website...can anyone else? is there a description for the reality racing slot this saturday?
Hey this is a positive start. This is exactly what I had told DM should be done. Something addressing the company making a proactive approach to fix the wrongs and to show that they are working with other companies to move forward. Mr Mehalick, if you're reading this...GOOD JOB!!
.016
Thanks for the clarification.
In my convo with DM, I specifically did tell him that a PR stating that the company is looking into financing options as well as partnerships for production of season two is a step in getting shareholders involved again. That in itself build some insight, be it not much, but something is better than nothing.
Hey Flat,
I just wanted to know what the company considered a "preferred long" in order to get that email. I'll be pissed cause I've owned this company since August 2005, and never received anything.
I would assume, if there is indeed this other show, that the production crew would be totally different, and not the same as the one at the raceway, IMO. So I don't see how showing a rerun has anything to do with a new show. just my thoughts, but clarify if you got some insight, thanks
Today's conversations is a lot about nothing. As far as my conversation with DM went the other day, the Schaeffers have a lot of other reality ideas on the table. Some of them are really good. However, the intent was to bring them out separately just like they did Reality Racing. HOWEVER, it has been brought to their attention that trying to get individual shows up and running does not make sense. It would be better to make Reality Racing more like a production company and then bring these different reality shows ALL under the Reality Racing (or watever new name) belt. This actually increases shareholder value and gives them and new investors more "security" in that even if one show flops, another may do quite well.
I do not know of any of these other shows being in production or even being named, but I figured to drop what info I was told the other day.
Just to clarify from what I was told. Kathy is the PR person and she has wanted to put out some PR about different things, but nothing concrete was in them so it made no sense to put out more useless info. Dave and Kathy confer a lot about PR's, but as far as I know Kathy and the RRGI management sign off on final PR's that make it out.
he is an IR guy, but he also owns a production company. Call him up for clarification.
Flat,
I'm not sure how that works but when I asked about outstanding shares, I was told 450million are authorized to be there, but 154million are the outstanding shares with the 50million in the float
Call up Dave, he will answer all your questions. I don't think he loses by being upfront with you, afterall, he has only been working with RRGI for a month and has no shares
M
OK everyone let me give a recap of my call with Dave Mehalic. We talked for about 30-35 minutes:
1- the authorized amount of shares is 450million, 154 million are outstanding shares and about 50 million are in the float, but that might go to 75 or 80 million in the near future
2- The rerun was because editing was not done on time. The reason for this was a difference of opinion about the episode between the director/producer and the company.
3- Due to the loss of the episode, the company does hope to extend the series out an extra week. The time slot is indeed paid for as if it was an infomercial, and because the company didn't wait to air the show a few more months, they do not reap much revenue from the commercials.
4- The company does get some revenue, but nothing spectacular. They do receive some money for the segment sponsors. They do make some on the merchandise.
5- There is interest from other networks to pick up the show. These are most likely other cable channels, but until that idea is killed, signing a second season with Spike is not in the show's best interest.
6- The company is working with an investing banker to raise financing. Financing is the key to making this show and company get back on its feet. Last week there was an investor who was quite interested in getting involved, but after looking up the forums such as this, all the bashing killed his interest. In essence the negativity HERE is hurting us just as much as the concerns in management.
7- There have been suggestions of changing this company over from just one reality show to more of a production company with many shows under its wing. This helps diversify the company and gives it more legs to stand on. This idea obviously will only work if financing becomes available. There are a lot of good ideas on paper with the Schaeffers. They are looking into maybe partnering up with a production company that has experience and the know how to make reality shows the right way. Again these are ideas, and if reality racing can come up with a company willing to partner up, it may be easier to get the proper financing.
8- There were millions of shares whose restrictions were lifted by investors and vendors. This has definitely added to the decline of the stock price. Will the show rise up quickly, probably not soon. The company has the right ideas in place. They had funding in place, but they spent it the wrong way plain and simple. The idea now is to fix the mistakes and revive the company, but it will take some time. Steps in the right direction are being taken. Shareholders have to realize this and have patience. And the Schaeffers have shares that are restricted under Rulr144, so they can only sell 1% of outstanding shares every 90 days.
9- Dave Mehalic is a very straighforward guy. He has his own production company out in Hollywood and he was hired to help fix the problems. He did not get any shares, and he is being paid a lot less than his usual fees month by month. He knew Pat before and with that understanding is giving the company time to pay his monthly fees as he has not been paid for this month yet. He sees the company as having a good idea, but just need to be tweaked the right way here on out. He answers all questions with a non marketing view, a very no Bullsh*t approach. I asked him a lot of things and offered a lot of suggestions.
10- There should be a shareholder meeting, but a date has yet to be determined.
I may have missed some things we talked about, but if I remember I will post it.
IN CLOSING, people who are negative in this stock should get out. The share price will probably drop more and people will bitch more. But, if you get out now, then you won't have to bash and we may not lose another possible investor. IF YOU CAN'T HANDLE MORE OF A LOSS, OR YOU CAN'T WAIT IT OUT, GRAB THE MONEY OR VALUE YOU HAVE AND FIND A NEW PENNY TO GET INTO. I know a few around the current share price of RRGI that are doing real well. If you are long, stay in for the ride. I, for one, have close to 100,000 shares of this company at a lot higher price than most of you do. I am not gonna sell now because I think if things are realized sooner than later this company will come back around. And if financing is achieved, then look for me to double down on my position.......
ingenius business plan?? are you joking me?
I just tried calling mr mehalic and his voicemail keeps comig up. The girl at the 561 # said the show did not edit on time, and that the schaeffers are in "meetings" all day. These guys better be coming up with something big. RRGI knows editing deadlines way before taping so that just shows more inept management. I asked the girl if the rerun will shift the show out a week and she did not know, but said mr mehalic would....if anyone gets a hold of him ask him. anyone have an ASK/BID on this puppy?
what # you call? I'd like to ask a few questions as well....
Thanks hun,
I wouldn't say all pinks are bad though, I been making money the last few weeks with a few and they doing things proper..one has given disclosure on a regular basis and has a weekly shareholder meeting that you can listen into and they are taking PROPER steps to report and move to the bulletin boards...lets face it, in this case we got swindled
I can't believe they actually wrote in there that these factors raise substantial doubt about its ability to continue....
I am in shock after looking at these numbers. and this is unaudited so I don't even know which direction to turn. Like Scotch said, paper is worthless and a penny is worth something so I hope to get that opinion letter soon and then decide to sell all mine on any uptrends..i guess the slow stochastic will be my new friend
Scotch, I was not asking about the patent on car racing, but the concept of a reality show in which amateurs try to race and get a contract. That is a new concept and can in essence be patented for a limited time. I figure if the concept is protected then a major network would have to buy the rights from Reality Racing to air a similar show.
I was away from the boards for a while, so can someone tell me how we know that shares were used to pay for vendors. If I was a vendor that agreed to get paid by shares, it would make no sense for me to sell this low. If I agree to take shares for the service, I'd have done it with an expectation of the shares going up to a certain point by shows end. Lets face it, this company should never have done a split when it hit 4 dollars. That in itself diluted the shares and took any credibility of stock price away from potential investors. What this company needs to do is get off its lazy but, put full disclosure on whats going on, and offer a major buyback as soon as possible. 8 weeks in and all those great names they said were involved have been seen making stupid remarks and asking retarded questions behind a table for all of 5 minutes per episode. When is one of the greats actually gonna interact with contestants on the track? Maybe explain how racing works or some of the strategies so the public viewer is more involved?!?!
The Schaeffers took my money and if there is a shareholder meeting come September, you can bet your last breath I'll be there to ask what @#$% happened!!
I don't know what is going on with this show. We do know one thing, this was a planned rerun because, as stated in an earlier post, they did not do their usual "Next week on Reality Racing..." Had this been a regularly syndicated show on FOX or ABC, we would not care because big shows like LOST and Prison Break have had weeks without new episodes. I think the issue is that they gave us warning about the show not airing the 23rd and then mentioned nothing about this week. That has gotten investors uneasy, especially since no one returns emails and calls!
Who knows what the prize package will entail. We don't even know what Racing division the winner goes into and for all we know they get $750,000 of worthless RRGI stock.
I am not bashing the show. I think from day one they have done nothing but make improvements to the show. We went from a blindfolded game in the garage to them actually getting four cars on the track and even some pretty impressive driving and accidents. Intensity has picked up, but the disclosure to investors has dwindled.
I for one hope we get a pre market announcement and I hope some big networks get in and try to fix the show. This is a paid spot, but then I do wonder why sponsors get their names up for sponsoring a segment...but whatever, thats beyond my scope of knowledge.
Did want to know one thing though, did anyone keep up with the celebrity version of this on ABC? was it any good? anyone know if its still on? Does RRGI have a patent on the idea of ROOKIE reality racing? If the celebrity one did well, then maybe this amateur one has a last hope....
Anyone live near the track? Anyone see any filming or any activity going on? I hope the finale makes up for all downside since the first episode aired. Maybe that Host substitute will get this show ending the season with some momentum...
I have left messages and emails at the corporate headquarters this week with no replies. All I ever get is a damn voicemail. Anyone have a # or email where the company actually picks up or replies? Its time to get the info from the horse's mouth. Tired of defending this company without the company saying anything!
to be truly honest, i am long this company for now. I am in the process of getting the opinion letter, which should be no problem since I have been invested for quite some time now. I think the stock will come back to at least a dime or so eventually, at which case I'd consider taking the smaller loss, but at these prices, it makes no sense to leave with almost nothing. If there is a second season, then the stock may find new companies to invest. the website now has banners for Crowne plaza resorts, commerce casino and Aquahydrate. Lets hope this brings some light to the stock.
sorry for late response, but i posted that message the same day i received the email. pretty much read it, came over to ihub and copy pasted it.
I SKIMMED A FEW POSTS THIS WEEK AND NOTICED A LOT OF QUESTIONS ABOUT OUTSTANDING SHARES. I AM A LONG INVESTOR WITH 144 RESTRICTED SHARES WHICH NEEDED TO BE LIFTED. I SENT AN EMAIL ASKING FOR INSTRUCTIONS AND INCLUDED WAS THE FOLLOWING INFO:
You need to take the certificate to your stock broker and fill
out Form
144, and whatever else your broker needs. The information they
will
need as far as I know is as follows:
Attorney Contact for opinion letter: Greg Bartko 404-238-0550
Stock Transfer Agent: Island Stock Transfer 727-289-0010
Our corporate federal id # 20-2840836
*******Current oustanding shares 154,559,286*************
THAT SHOULD HELP CLEAR SOME DISCREPENCY.
THIS WAS SENT TO ME FROM THE CHIEF FINANCIAL OFFICER