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Why would the MMs take them at that price?
It is neither an asset or a money pit, it is just another addition to the scam. Empty paper.
To start with there aren't enough shares left to acquire anything of value, secondly there is no money available to throw into a money pit. The only possible effect will be when Fitz dumps whatever shares he got into the mix.
Please notice how the 'film' industry has reacted to the news and started a huge run on the stock.....not.
You gotta give old Newton credit for taking care of his stockholders. No way he was going to tell the world about this blockbuster by announcing it with a press service release. Nope, he is keeping the news close to the vest and only sharing it with the loyal shareholders who obtain their info from the web site. Nice job Gene.
You've also got to give a little credit to Fitzpatrick being so generous as to trade his up and coming feature film business for just a few thousand dollars in cheap shares.
How many shares does anybody think were left to trade with? DO you suppose the shares were discounted or swapped at face value?
Kind of a surprise that the value of the company and the number of shares wasn't mentioned, every other announcement about an acquisition provides those numbers, but I guess Gene doesn't want to violate the non-reporting rules. I guess we are left with just guessing at the value of the transaction. Oh well, what's new. LOL
Nothing is being 'held' down.
The market, as in the investors here on this board, has established the value of the stock and that is where it sits.
The value of a stock is determined by what people will pay for it, it is as simple as that. Look around here, I will bet that almost no one here placed a market order when they bought their shares. They almost all put in orders at specific prices at or below the published 'ask'.
Even those who believe in the future of the stock and expect it to rise in price didn't feel strong enough about it to place a market order.All of the buying pressure on this stock is downward pressure. The pps is where it is due to the assessment of the investors and is valued by the market (as it should be) anyone believing otherwise needs to find another method of investment.
The facts are not from the future they are verifiable right now.
I will absolutely guarantee to you that RCCH will never leave the pinks unless it is to cease trading altogether.
Based on the understanding that nature abhors a vacuum. LOL
Castell it is not an opinion, it is a fact.
The shares are NOT illegal, there is no reason to remove them.
Fake events that were never intended to happen however, are protected by 'forward looking statements'.
Ever heard of that?
The filing by Gendarme to dismiss part of the charges against them (posted by Earnest) and the SEC response to that filing (posted by Anvil) provide an answer to one of the big questions debated on this forum. The 'ugly' part is, with that question answered then the house of cards come falling down.
Ever since the first filing of the SEC complaint the loyal longs have tried to claim that the 2.1 billion shares sold by Gendarme were in fact 'short' or 'air' shares and were not obtained frm RCCH. These filings put that fantasy to rest. The SEC (and Gendarme) agree the shares were bought from the company.
With billions of shares in the float then all the fantasy explanations for the low pps go out the window. There is no need for naked shorts, MM games or any other nefarious conspiracy, billions of shares sold by the company into the float will drive the pps down on any stock in the world.
Let's pursue that.
I think you've got it backwards.
I couldn't agree more.
Thank you for supporting my argument.
That was the spin at the time but the questions asked were not comprehensive.
Deep inside a private conspiracy theory maybe, but not in real life.
That is the kind of misinformation that propagates these fantasies.
Have you ever heard of the law of supply and demand?
You might be right and we will go down the same path.
Remember when all the investors contacted Watersense? I can't imagine that the same thing won't happen here especially when the email address of the principle individual is being listed in the 'stickies'.
It won't be long before we get a direct response from Mr Fitzpatrick one way or another.
So how many people here think that Fitzpatrick has ever met or even heard of Gene Newton. lol
How many times must people be burned before they stop trying to pick up the hot coals?
Does anyone believe that a successful company would sell out to a holding company in exchange for shares that could not be sold? (no bid, remember?)
So there are two choices, either the acquisition is a scam falsely trading on the reputation of another company or the new company has never heard of RCCH and Gene is playing his 'LOI' gambit again.
Wasn't it Twain who said he would never join a club that would have him as a member?
You have to wonder about the quality, integrity, honesty, (or whatever metric you desire to consider) of a company that would voluntarily associate itself with RCCH.
If the company was a success they could buy RCCH lock stock and barrel for less than a million bucks, why would they sell themselves for less than that?
Realize that even if there are any shares left to print up and sell/trade ther are less than a couple of billion that wouldn't buy a successful espresso stand.
Who else is going to?
Castell,
You were specifically told exactly what would happen.
The ask would rise to .0002 but no higher.
Once the ask had risen and made room for a spread, the bid would reappear for a short time but would never exceed .0001.
You were told that it would be a very small window in which to exit the investment if you wanted. You even acknowledged the messages.
Please don't act surprised that those events have now occurred. It is exactly how these scams work.
Also realize that the majority of the shares sold into the bid during it's brief existence, belonged to those who claimed that the train was leaving the station when what they really meant was they were leaving the investment.
Notice how the ranks have become depleted.
That is a very plausible scenario, but I would clarify it a little. If the agreement was conditional in any way and the conditions were not met, then the deal never actually took place. So in this speculation RCCH never actually bought IWS they just had a conditional agreement to acquire it which never came to fruition.
On the other hand, Newtons obvious attempt to cover the failure of the transaction by creating a counterfeit lookalike would seem to be borderline fraudulent. Would that kind of bait and switch tactic be considered actionable?
And yet you do.
It only "doesn't make sense" if you assume the confusion is unintentional.
Since it is impossible for customers to contact RCCH or it's fake IWS affiliate (no phone no address), since every promise made by Newton has been a lie (financials, lawsuit, uplist, etc), it is an absolute certainty that there is no letter of intent either.
This latest gambit is clearly DOA.
Next?
What contracts?
No individual invested 'millions of dollars in DNAPrint.
A corporation is constrained by the laws of the state in which it was incorporated. The fact that there are two different states involved in your statement defines two different and separate entities.
Since there are verifiably more than one IWS, I don't think your question is viable.
They don't have any SBR's to sell. Where have you been?
The equipment is made up of modular 'off the shelf' components , they can be ordered from a dozen different sources. The customer will buy the components from the best sources. IWS has no inventory. If IWS decided to install a system themselves they would buy the components and have them delivered to the job site.
I don't know where you derived your estimates of revenues from this job, but I would be much less optimistic than those projections.
From the wording of the update it doesn't sound like IWS is contributing anything more than perhaps a design review of an already designed plan.
Reality double check.
The standard experiences of everyone here is to be misled by a message, only to reread it later and realize there really wasn't any content to begin with. This one looks like more of the same.
I read that the customer is going to operate and construct the plants using their own plans.
So what is IWS providing? They aren't planning the installation, they aren't building the plant, they aren't going to run it.
Sounds like another red herring to me.
I wonder if the 'customer' is even aware of IWS' 'letter of intent' or if Newton found a project on google that fit the bill and cooked up an 'update' about it. Given his MO of posting unrelated lawsuit PRs and pretending they are related to RCCH it wouldn't surprise me to learn that the 'customer' in question has never heard of IWS and never met Newton.
I don't even think it would be illegal for me to write an LOI and sign it myself suggesting that the new house being built down the road is going to use the same technique of pouring cement into wooden forms to create a foundation that I myself used when I built my house. LOL
Richard Gabriel filed papers with the SEC publicly resigning his position at DNAPrint.
After they had transferred all assets and intellectual property to Dutchess which then passed it along to another private enterprise, Gomez and the founder Frudakis walked away from the company. None of them have any financial or legal connection to the remaining empty shell.
No it is incorrect.
You could break the 'Ask' to twenty bucks and it wouldn't affect the prediction.
The 'value' of a share is what you can sell it for, that's it. In this case you can temporarily sell it for .0001. Until you get that to move the prediction is still 'golden'. lol
Biofrontera isn't worth anything. It is another of the netherworld investor scams populated by the same crooks and cheats as all the rest. The 'values' represented are fictitious, promoted as part of the scam.
The 'value' of the company changed on a continuous basis depending on the story being told at the time. When DNAG rolled out their association with Dutchess they told everyone that they were going to get $25 million dollars of financing and they were going to purchase 51% of Biofrontera, establishing the 'value' of the company at over $50 million. Later on (not long after) they purchased 18% for $1.9 million, presumably after doing something else with the rest of the $25 million. 18% at $1.9 million puts a 'value' of around $10.5 million.
The reality was that there was no $25 million it was just a story to 'sell' the association of the company with a toxic death spiral financier. Additionally Biofrontera was a convenient foil to spin stories with while the company printed and sold shares, which was their only real source of income. There was no viable technology and there was no viable revenues, just window dressing for selling shares. Once the shares were gone and the pps was worthless the principles walked away with their 'salaries' and left the dregs to be fought over by the remaining investors and all the creditors, including Dutchess who in the end got reamed as well.
It sure is ........... and you have good reason.
The stock was sold back to Biofrontera a long time ago.
It was sold with an 'option' to repurchase it, but by that time everyone knew we were done with Biofrontera.
I don't know what 'looks pretty clear' to you, you appear to have some unsupported theories about what happened. The reality is that there are no remaining assets belonging to DNAP and both Gabriel and his wife (Monica Tamborini, CFO for DNAP) were with Biofrontera before they came to DNAP and are still associated with them after DNAP is long gone.
The 18% share of Biofrontera was publicly accounted for and DID NOT end up in GAbriel's pocket regardless of what is 'pretty clear' to you.