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If anyone thinks Benny is going to tell the 2-3 people going to Comic-Con anything new, they are crazy. Benny will be nice, yet he will just say he can't give out non-public information.
Better yet, he will give his standard "soon" answer or say due to NDA's I can't talk about that.
-PI
MC, I agree. If we sold anywhere near the 10,000 mark, Benny would be blasting it everywhere. If we had sold 10,000 you would not have been able to order Zwagbox as that was the cap and they said order now before it's gone. It was constantly for sale, so we know we didn't hit it.
I say we sold 3-4k boxes. I want to be dead wrong, yet it is what I believe if I had to bet on it.
Silence from Benny is never good, never has been, just like all this new stock and never-ending debt issues. Benny has NEVER been honest with investors about REDG and it's debt.
-PI
Did the O/S go up today? If not Friday was a lot of people moving money around.
3 weeks until Comic-Con!
Truth is unless we get financials and/or news for subscription numbers we are not moving much. Maybe back to .0004 for Comic-Con, maybe...
-PI
I blame the UK/EU vote for the fall in REDG share price
Happy Friday everyone!!!
-PI
REDG has everything we have always dreamed of in a penny stock, yet we are not going anywhere without financials.
As Wingman and many of us have been saying for a long time. Getting current on financials is the most important thing at this point if we want the stock to move to the point it "should" be at.
We were promised no new notes how many times and that factoring would be used in it's place. Factoring fell through with the GSL. Then we had this latest batch of stock from a settlement due to failure to pay on a loan.
Without current financials, we have ZERO idea how many of these loans were taken out or if we are missing payments on others. Is there just the latest one, another lurking, or multiple? We just don't know!!!
How are we paying for E-3, Comic-Con, etc? Are we using Zwag-box and POWFOLIO revenue or did we borrow more money?
As investors, these questions need to be answered and we legally deserve them.
I asked one of my good friends who is a Financial Manager, Broker, etc at Principle about REDG and it's debt and here is an excerpt of his response:
"Without current financial reports I cannot recommend investing in this company. Even if you are open to a significant amount of risk as I know you are with your history of investing in so-called "Penny-Stocks", this company is a total gamble as there is no factual way of researching how much debt the company has taken on."
Now with that said, I do plan on buying more stock this week once my 3 day waiting period is up, yet I really would like to know what is going on with our financials.
-PI
560 million today and the news. I take it he dumped it all today or does he have more to dump?
-PI
The market is just bad overall...
We can point to a lot of issues causing the REDG stock price to move around and I know many don't think the overall big market does not influence the OTC market, yet IT DOES...
http://finance.yahoo.com/news/baml-equity-fund-flows-exodus-142921175.html
The amount of money leaving the market right now is crazy. I am seeing it in my larger fund holdings and larger stocks. Not a fun time to be a long term investor in the big market.
If confidence in the market as a whole is not there, people run and don't take chances (higher risk). OTC relies on chance/high risk money and a lot of it is leaving the market right now...
Fingers crossed for later this summer around here!!!
-PI
I am actually excited/happy with the single digit daily increases.
I think a slow move is better than a massive jump. As I have said prior, I did think we would have been at .001 by now, yet in my opinion we waited too long for a launch announcement, yet it is what it is at this point.
I along with others are not happy with the 400,000,000 new shares they are discussing with the court settlement, yet again, we can't do anything about it and we do have revenue so again, it is what it is.
What does worry me, is how many other of these types of loans do we have out there? I have asked Benny to come clean on all debt in the past. This is the latest one to come to the surface, I fear there are others, yet I hope/believe with our revenue, payments can be made to stay off any further legal action.
Just my .02 for what's worth.
Here is to a bright and sunny summer!!!
-PI
Free Comic Book Day News Story:
Great local news story on FCBD and the impact it has. This one store puts out over 40K comics on FCBD.
I only wish we had a POWFOLIO card inside each book from Diamond.
IF ONLY...
http://www.kare11.com/news/free-comic-book-day-is-saturday/178091515
-PI
@wingman. I know you are in the 9 figure club as well.
I was having a discussion with another 9 figure holder on FB and we were trying to figure out how many shares someone would have to have before they have to file a Schedule 13G or 13D showing 5% ownership of REDG with the SEC?
It would be in the 300,000,000 range with straight math, yet with all the odd Z shares, etc, we were not sure how to do the math.
Anyone, any thoughts?
-PI
Looks like the market has spoken and .0003 - .0005 is our range until we get other news such as download numbers, pre-order numbers, Zwag-Box numbers, or financials showing the revenue from Zwag-Box and POWFOLIO.
I really, really, really thought we would see .001 at the end of this week, yet it is clear Benny missed the chance to ride the hype wave when all the new money had it's eyes on REDG and we hit .0008. Benny just sat silent and we lost everyone's interest, followed by an 8K that scared others off as well.
There are just too many outstanding shares at this point to justify an investment without financials for technical traders.
I would like to see some sort of marketing of the app via other comic sites, print media, get comic sites to write reviews of POWFOLIO, etc. Benny says how he has all these contacts in the industry. NOW is the time to leverage them
Until then, I think we sit and wait for July.
As I said before. Been here 3-4 years, what's another 6 months...
-PI
I am surprised we have not gone up, yet Benny waited too long to Announce!!! He clearly had the launch date and when we were up at the 8s with a lot of eyes on us was the chance.
Instead we got an 8k with more shares to come and a lawsuit. It is holding people back.
We will go up, yet it will be with launch and user numbers. Then up again with financials.
Waited over 3 yrs.... What is another 6 months... Eh...
-PI
POWFOLIO Launch!!!
Thank you Benny, FINALLY...
I think we could break .001 this week
-PI
I will stop asking Benny for information when he provides it.
The downturn we had at the end of last week is from one thing and one thing alone. Benny's inability to communicate information to investors in an timely and effective manor.
All the new shares and law-suites would not have mattered if he was keeping us up-to-date on POWFOLIO and Zwag-Box. There is no reason the POWFOLIO, ZWAG-Box, and/or REDG FB page isn't updated everyday. Saying we uploaded this much today... etc. Simple posts that take 2 min to post, yet would invoke huge amounts of support to Benny, REDG, the product, and this stock.
Benny has time to respond to random people on FB, yet he cannot answer basic questions to investors. Keeping your cards close all the time is not a good thing. I understand he got bit with GSL and giving launch dates, etc. However, this time we have multiple REAL products. He can let his guard down just a little and speak.
Looking forward to a great week and a possible launch next weekend...
-PI
I think we will have a great week Tlsmd.
-PI
Free Comic Book Day is NEXT WEEKEND...
POWFOLIO, when Benny, WHEN???
Q: When does POWFOLIO launch?
A: The POWFOLIO app has been extraordinarily well received by beta testers, and will launch as soon as it is 100% ready. Please follow updates on the official POWFOLIO Facebook page for the latest news. All we can say is VERY VERY soon! We can't wait to make EVERY day a FREE COMIC BOOK DAY.
-PI
You make good points docg, yet REDG's business is not the same as Marki's channel business. He is NEVER going to mix the two or endanger his bread and butter.
Will he promote the comic and digital download for charity with a quick comment like he did last year, yes... and hopefully on POWFOLIO is slipped in there.
However, I do not see him unboxing Zwag-Box on his channel... I could and hope I am wrong, yet he owns half the comic, not the box. He has no incentive to do it unless he is going to unload Marki stuff in the box every month (which could be). It is too risky to his image and brand without further information.
Cost-Risk analysis for him says he will not, yet I hope I am wrong.
-PI
It takes money to make money.
REDG needs to pay to advertise on other comic apps and sites to get the ball rolling. I am sure we will have a lot of ads on POWFOLIO, yet we need that up and going before we can say that is a viable option for marketing and pre-ordering.
Mr. Storm said the app was ready. I am guessing we are waiting on content uploads and the final "yes" from Benny and Apple. However, they have a timeline and as an investor I would like a projected timeline, or an update saying we are waiting on "blank" to launch.
Just like there is NO reason Benny cannot provide us with the number of Zwag-Box orders we have received. None at all...
If Benny can respond to Marki's fans left and right, why can't he give us BASIC information as investors?
-PI
Yes, as I said, I give him credit for targeting the right group, yet Keenspot is far from a popular or well read comic site. I used to go to it daily for D&D and it would go months without being updated.
The comics on there are housed on Keenspot servers, like the ones we are advertising on, but have a very small following and there are very few comics published on Keenspot.
-PI
POWFOLIO, when Benny, WHEN???
Free Comic Book Day is NEXT WEEKEND...
Q: When does POWFOLIO launch?
A: The POWFOLIO app has been extraordinarily well received by beta testers, and will launch as soon as it is 100% ready. Please follow updates on the official POWFOLIO Facebook page for the latest news. All we can say is VERY VERY soon! We can't wait to make EVERY day a FREE COMIC BOOK DAY. [/i
-PI
This list is misleading, yet true.
Yes, these are all sites that have Zwag-Box advertised at the top, so yes, it is there. However, 99% of them are all sub-pages of Keenspot, oh yeah, so part REDG and Benny. Comic Genesis, also under REDG. Look at the top of the page and they are all on Keenspot servers and on Comic Genesis look at the bottom for the REDG logo.
Yes, it is out there, yet it is all free advertising via companies that are part of REDG or Benny.
I give Benny credit for using them all and getting the name out there as much as possible into the market we are trying to reach, yet lets not act like we are on top read comic sites advertising here or on the front page of yahoo.
When people are on Ihub saying we are advertising all over the place, that is in fact not the truth, we are on 1 or 2 and its sub-pages.
Again, I am not negative, yet I do not like disinformation as an investor. It is that kind of shady comment that scares real money away as it looks like a pump and dump as they dig into it.
POWFOLIO, when Benny, WHEN???
-PI
I don't think Marki will push Zwagbox to be honest.
I think Marki only posted it on his FB page cause we pushed his hand on the matter. He gets his 50% from the comic, not Zwagbox.
I don't know if we will see him even touch Zwagbox. Beyond just a basic mention.
I think he will push his comic via digital download when it comes out, nothing more.
Do I want to see a full unboxing, HECK YA, but based off how he runs his business and channel and how he presented the comic last year, I don't see it. Just my opinion on the matter.
Yes, Marki is on the board etc, yet Marki makes millions off You-Tube, he doesn't need REDG. I think he bought into REDG as a favor to Benny and is using it as a basic way to grow his brand, yet he is VERY protective of his image and brand.
His WORST fear is becoming a sell-out and pushing stuff makes you that. Hence why he is all about the charity aspect. It prevents the sell-out conclusion from his fans and viewers.
-PI
I wish Benny would interact with investors this much.
POWFOLIO, When Benny, WHEN???
-PI
I agree and I am glad they found the cover.
REDG aka Benny is interacting with them, yet I wish he would read twice before posting...
Benny is misspelling words in his posts, he even gave the wrong address for zwagbox.... GET OFF YOUR PHONE and READ TWICE BEFORE POSTING!!! This goes to our public image...
Lily Fishebach WHEN IS THIS CMING OUT?!?
Like · Reply · 18 hrs
Red Giant Entertainment
Red Giant Entertainment Hayley Minahan the first one is in July and can still order with Zwagba.com
*******
Delitcia Cmn Hello, is there any way I can order the Markiplier series even though I am from France?? I don't know where to preorder it.
Like · Reply · 4 · April 26 at 8:31am
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Red Giant Entertainment
Red Giant Entertainment ZWAG BOX does ship internationalply as well if you want the exclusivets and other great gear and collectibles
Like · Reply · 3 · April 28 at 6:20pm
-PI
I tried asking last week before being shot down left and right about debt.
How much do we have outstanding? How many more of these loans, etc has Benny taken out?
As the original plan was to factor from the GSL to cover our debt, did we factor and now owe back?
Benny owes us answers!
These are relevant questions since REDG clearly is not paying it's bills and we are being sued AGAIN.
-PI
The 8K already includes his good news to cover.
If you look at the dates, the lawsuit is dated 15 April and the New shares is dated 25 April. So to cover up that bad news he included the agreement with Marki boy...
We need a POWFOLIO Launch date ASAP....
-PI
Benny/REDG has not been paying on the loans he/it took out.
From the 8K:
On April 15, 2016, we received a civil complaint from Lucas Hoppel, one of our lenders, alleging breach of contract for non-payment of loans. The complaint was filed in the circuit court of Lake County, Florida, Case No. 35-2016-CA-000653-AXXX-XX, and seeks $131,640 in principal, interest, and penalties. By agreement with Mr. Hoppel, our response to the complaint is due sixty days from the date of service.
I sure do hope they get some money in fast to start covering some of this debt. If not we are sunk, products or not.
REDG charged my card for my year of Zwag-Box, so I hope they use it to get this 1,000 pound gorilla off our back and fast. We cannot afford another Oceana settlement.
We cannot take on billions of new shares from a settlement. If so, we will see a RS or never see above water, EVER.
-PI
Horrible 8K.
See below:
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 15, 2016
Red Giant Entertainment, Inc.
(Exact name of registrant as specified in its charter)
Nevada
000-53310
98-0471928
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
614 E. Hwy 50, Suite 235, Clermont, FL
34711
(Address of principal executive offices)
(Zip Code)
(877) 904-7334
(Issuer's telephone/facsimile numbers, including area code)
Not Applicable
(former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See: General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c))
SECTION 1 - REGISTRANT'S BUSINESS AND OPERATIONS
ITEM 1.01 - ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
LICENSE AGREEMENT WITH RELATED PARTY
On April 25, 2016, with an effective date retroactive to April 12, 2016, we entered into a License Agreement with our director Mark Fischbach. In exchange for 50% of net revenues, Mr. Fischbach licenses to us on an exclusive world-wide basis the copyright and license to his likeness as it pertains to the character behind the proposed MARKIPLIER COMIC, a four (4) part mini series, including any other adaptations, modifications or derivative works to the likeness, including without limitation (i) printing, publishing, vending and selling in all forms printed editions of the likeness; (ii) making and authorizing others to make electrical, transcription, mechanical, synchronization, dramatic and commercial uses of the likeness in any form, including without limitation web comics, digital comics and app comics; (iii) granting rights to publicly distribute the likeness for profit; (iv) to collect all fees and royalties becoming due for any of the above; (v) prosecuting, defending, and settling any third party action or claim relating to the likeness and the respective rights of the parties therein. The term of this agreement commences on the Effective Date and remains in full force and effect so long as any Property Rights to the likeness shall remain in perpetuity for the licenses so long as it remains in circulation in print and/or digital for a period of no less than 5 years.
The description above of the License Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement filed as Exhibit 10.1 hereto.
SECTION 3 - SECURITIES AND TRADING MARKETS
ITEM 3.02 - UNREGISTERED SALES OF EQUITY SECURITIES
WARRANT EXERCISE
On April 25, 2016, we issued 581,066,667 shares to Typenex Co-Investment, LLC, upon its cashless exercise of a warrant using 3,200,000 shares of our common stock as payment. The warrant is dated June 21, 2013 and is filed as Exhibit 99.3 to our Current Report on Form 8-K filed on January 27, 2014. The issuance was made pursuant to a March 28, 2016 notice of exercise of warrant.
SECTION 8 - OTHER EVENTS
ITEM 8.01 OTHER EVENTS.
On April 15, 2016, we received a civil complaint from Lucas Hoppel, one of our lenders, alleging breach of contract for non-payment of loans. The complaint was filed in the circuit court of Lake County, Florida, Case No. 35-2016-CA-000653-AXXX-XX, and seeks $131,640 in principal, interest, and penalties. By agreement with Mr. Hoppel, our response to the complaint is due sixty days from the date of service.
SECTION 9 - EXHIBITS
ITEM 9.01 - EXHIBITS
Exhibit
Number
Description
10.1
License Agreement.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Red Giant Entertainment, Inc.
Dated: April 28, 2016
/s/ Benny R. Powell
By: Benny R. Powell
Its: Chief Executive Officer, President,
Chief Financial Officer, and Secretary
Comic-Con 2016 should be amazing.
I close my eyes and I see the REDG booth this year between Marvel and Dark-Horse Comics, just like the last two years.
The booth has REDG, POWFOLIO, Zwag-Box, and the Markiplier meet and greet.
We have a massive line for everyone to meet Marki, yet they have to walk by and stand next to the Zwag-box display with a discount if they sign up at Comic-Con for a year.
Then and god please BENNY LISTEN TOO ME!!! Set-up five tablets locked to the table like Best Buy does running POWFOLIO for people to play and try it while they wait in line. Then have the POWFOLIO download bar-code right there so they can scan it and download it.
Then have business card size flyers printed for POWFOLIO with the scan bar-code on it that you can drop all over the convention.
In addition, you hand the flyers out to everyone in line for Marki so they can read and explore the Markiplier comic on POWFOLIO while waiting hours to meet him.
Comic-Con is where we make our REAL 2016 numbers for all parts of the company.
Then..... This fall we get financials and numbers. Revenue, maybe profit, debt-numbers, subscribers numbers, download numbers, etc. Then the stock will really go, yet that is this fall to next spring.
-PI
@Tlsmd, you are correct.
People cannot pass-up a 500-800% profit, especially when we have not been given any news from Benny. There are the "longs" who can sell part of what they own after averaging down and cover their costs and let the rest ride.
However, the flippers ARE here. That comes with new money and when "we" jump around on all the OTC stock boards hyping REDG, it is going to attract them. One comes with the other and it is what it is. It is an ends to a mean.
I have not sold anything yet and with how fast we got to .0008 without product release it has made me reconsider when I will sell to cover my costs. I originally said .0008-.0012, yet I am considering waiting until .0016-.002. That way I can sell 25% of what I own and let the rest ride instead of 50%.
My break even is/was .0004
What worries me is that there is not as much new money as we thought. If just a few million shares being offered can drop the stock back down 3 ticks, the floor is not nearly as stable as I thought. I think we will have a solid floor once we have POWFOLIO out on the market and making money.
-PI
Benny needs to provide us a POWFOLIO release date.
Given Benny's hint at Free Comic Book Day being the POWFOLIO release date and REDG's love of putting out news on Friday after close or on Saturday, I predict we will see a release announcement this weekend...
If not, the stock will drop/remain in the .0003-.0006 range.
Q: When does POWFOLIO launch?
A: The POWFOLIO app has been extraordinarily well received by beta testers, and will launch as soon as it is 100% ready. Please follow updates on the official POWFOLIO Facebook page for the latest news. All we can say is VERY VERY soon! We can't wait to make EVERY day a FREE COMIC BOOK DAY.
-PI
Diamond Comic's Preview World, official links for the first two Markiplier issues.
Remember any comic book store that is part of Diamond's distribution network can pre-order these comics. I have five of each on order at my local comic book shop. You just need the Diamond Item Code for each. Granted prices will differ based upon store. I am paying full SRP.
Item Code for #1:
APR161875
Item Code for #2:
MAY161727
Markiplier #1:
http://www.previewsworld.com/Catalog/APR161875
Markiplier #2:
http://www.previewsworld.com/Catalog/MAY161727
-PI
The interesting part is we have created a situation where "longs" who averaged down have to be very careful about an exit strategy. Too me this helps the stock continue to rise.
I say this, as like you and I, I know others who have purchased so many shares (more than they ever thought they would own) that if they just said at price XXXX I am selling everything, it would just create a wall and possibly stall the stock. Possibly triggering others to sell as well.
Therefore, I know I have to trickle my shares out slowly, if not new money might think people are dumping or another debt holder is cashing out, and get scared away.
I have to really sit down this weekend and try and figure out at what price I am going to let what amount go for (hard without projections).
I have REDG stock that was bought when it was really high, so it will technically be a loss for tax purposes, yet overall a profit from averaging down.
I think I told you before I bought in originally at 0.09 and followed it down. Two years ago I sold everything for a massive loss and took the tax write-off with multi-year carryover. I waited 45 days and REDG actually went down even more. That allowed me to buy more shares than I had originally, but it still went down and I followed it down, trying to average down, as I bought more prior to each failed launch.
After my tax selloff and buy back, my highest shares were bought at .008 and my lowest at .0001 with a break even at .0004. Most of my shares until I started averaging down with .0001's were bought between .001 and .005. I bought a TON of shares the last couple of months at .0001 and .0002 to get that average down there as I knew this is was our last chance/time.
Again, it put me in the place of when to sell which shares to minimize taxes and still wanting to remain in REDG long term as I see very long term potential with POWFOLIO. I plan on buying some 5's and 6's on Monday, yet that's it for me. I cannot justify buying more.
I am still considering selling 40% around .001 so I cover my investment and let the rest ride, yet I don't want to stall the potential of a run and of course we all get greedy and then think, well, if I leave it ALL in there and it goes up this much, that's a gazzillion dollars... It's so tempting yet has bit me in the @$$ every time...
Have a great weekend Tlsmd.
-PI
The good news Tlsmd is I don't think there are that many flippers yet. That is why the ticks have been so thin. I think most of it is held by longs that have much higher average prices per share and were averaging down knowing this is their moment.
I know I was the buy that picked-up almost all of the 2's that started all this last week. I was hoping for 1's last week yet when I saw it wasn't going to happen I jumped on all the 2's I could get. Then I took 4's twice this week to try and keep it up there. I am waiting on funds to settle, yet I hope to buy a last batch in the 6's on M-Tues, yet then I am done.
I got my average down to .0004 so this is all black for me. It's just a matter of an exit strategy, yet I have been here for years, sticking it out for another 6 months is fine with me if it pays off.
-PI
Great find thedocg. It's really interesting when you look at the developmental timelines of both and the certification process.
Either way, we have iOS and that is that. I just want to see POWFOLIO get a launch date and Android ASAP.
Especially if we are looking at the Manga section Mr. Storm was talking about as Manga is all Asia and Asia is Android (LG, Samsung, Sony, etc). I think the Manga section holds the most potential for future revenue. Asia is so "connected" and Manga is so big over there, it is a win win when we get it out.
Come on Manga section in other languages!!!$$$!!!
-PI
I agree with you about Apple's environment and they make a lot of money. You are also correct that an Apple user is more likely to come from a family with higher income and more disposable income. However apple has lost market-share monthly for the last couple of years and continues to fall. Look at their stock, down, down, down. Also, Apple in not letting others use their iOS on their devices is the same mistake Apple made in the early 90's with Macintosh. Windows forced them out by sheer market share and they are repeating that mistake Forbes etc have written extensively on this issue and why almost everyone is not bullish on Apple. anyways, Apple aside... that is a different discussion.
Who has the most devices does matter as POWFOLIO is free and we want people to read comics for free and see ads. Therefore, most number of devices does matter. Now yes, we want subscription users as well and those are more likely to be from Apple users, that is true. Yet, I would rather have millions of free readers swiping ads for profit then a small amount of paid subscriptions with a shrinking base.
However, you need to look at the demographics of who will be using our products. Comics and the end user of this app are more likely to be your nerds, geeks, sci-fi fans. Which I am proud to call myself all of those and so are my friends. We are all Android users and we are not poor. I respect Apple, yet it isn't strong in that community.
Android is hands down the preferred platform of that demographic as they believe in the ability for one to control their devices and play with the settings, code, unlock it, etc. Not to mention Samsung, just makes better hardware at this point.
Wil Wheaton just gave a fantastic speech at DC-STEM which included an entire section about Apple and Android and why Android is opted for in the Science world.
If you have something constructive to say or can refute anything that I have stated, that is called a discussion, which IHub is for. Not snippy comments from right field or personal attacks.
This isn't the comments section of CNN.
-PI
This is business. I am an investor. I am not go with the flow, follow everyone off the bridge type of person. In your words, I am 100% chill.
I hate seeing people who clearly have zero background in finance and economics or the stock market keep picking up the torch for Benny who is not doing his job as CEO thinking they are going to get rich quick. New ones come on here all the time, almost daily.
When longs who have a LOT of money tied up in REDG want real answers we are negative because we are not gum-drops and lolly-pops? This is business and in business you have to answer the hard questions, especially as a publicly traded company.
Using REDG as an OTC stock as an excuse to let Benny do what he wants with other people's money is wrong. When he gave himself all the Z shares we should have stood up against him and demanded answers. Now we are stuck.
I do 100% believe we should call for a shareholders meeting, even if its virtual. There are to many outstanding questions that Benny has refused to answer for not months, but years... Where did all the money go we borrowed for GSL if it in on the back burner? Just gone? We as investors, some of us more than others, picked up those shares so REDG didn't get de-listed. We took on that debt, and for what?
We are the shareholders, we own REDG. We have the right to certain information and updates. Including on-time financials, which he has promised for years..... Benny changed accounting firms to fix the issues, etc, yet the same problems have remained for years...
The fact that it is a penny stock changes nothing. It is still a publicly traded company which has certain laws and regulations.
I want REDG to succeed. Many people think in the OTC market that means put as much lipstick on a pig hype hype hype it up, pump it and dump it as you can. I believe in real investment. That is why I have held REDG for over 3 years and bought as recently as yesterday as full ask (.0004).
However, I as a shareholder demand the information that we are legally entitled too. That information is what keeps the stock market transparent and for everyone to see what they own, forecast it, and create an investment strategy.
-PI
OW, I have emailed Benny so many times with "real" questions it is a lost cause. He only responds to what he wants and his Investor updates only touch "on the surface" questions. They are nice, yet not what real investors need to know. They are great for hype and pump and dumpers to attract new short term money, yet not real investors with real money.
The one time I got a response from Benny it was the normal Benny:
"We are working around the clock... Everyone is working really hard... We are full steam ahead... Lots of amazing things happening around here and will announce them soon..."
Not the exact quote, yet that is what it was, all fluff.
-PI