Rightsmile, Inc. (RIGH)

[FullDeck]

RIGH SCHEME UPDATE:

Someone with a stake in RIGH should really be analyzing this Q3 "Disclosure" instead of me, but "blinders" seem to be the style of the day.

On my first quick read of the "fins", I missed the addition of $10,000 worth of "Treasury Stock". An honest disclosure would have listed the number of shares this represents, but this is, well... you know...

Anyway, we are left to presume that this $10,000 "bought back" almost 2 Billion shares, a valuation of about .000005 (that's right FIVE Zeroes- QUINTS) per share.

That is what I meant when I said there is money to be made (for insiders) even trading these at .0001, when the cost is this low (.000005).

And we've seen the pattern of "monetizing/dumping/shorting) by insiders all too often:

Underhanded share manipulation for months, most recently 400MM+ at .0002+ to 0003 this week:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108383723
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106584155


And the accounting for the Treasury Shares is still absurd- the OS should have been reduced but is instead withheld (June totals reported instead) and the "Issued Shares", which should include the Treasury Shares, has been reduced (HUH?) by almost 2 Billion.

BTW, in my haste, I misstated the formula for OS in the "replied to" post- it should be-

Shares Outstanding = Shares Issued - Treasury Shares

For your convenience here's the pertinent part of the disclosure:

http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=129668

Games have also been played with the A/R (reduced- theoretically a good thing, but IMO likely done at common shareholder expense). I'll leave that for shareholders to pursue.

Most troubling is the nature of the debt RIGH has taken on- at least one "Convertible Promissory Note". This is the tool most often used by "toxic financiers" to get control of the next iteration of a company (think Matt Dwyer and his 8 Billion shares gotten from Angel).

The current note has now eaten into the purported new company- Genius Biotech with an undisclosed number of unregistered shares:



So shareholders haven't even officially been told that the Delaware registration has taken place (please correct me if I'm wrong here, but it was first disclosed by ME here, and I don't believe RIGH has yet disclosed it officially):

Taylor Moffitt creates Genius Biotech SHELL in Delaware!
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=106415400

So it appears that un UNDISCLOSED INVESTOR has already received an UNDISCLOSED NUMBER of UNREGISTERED SHARES in Genius Biotech, the wholly-owned new subsidiary.

Some may think that $15k, plus another $15k can't buy much (especially if THEIR PERSONAL investment was even MORE than that), but look at the 2 Billion "Treasury Shares" that were bought for $10k to get a feel for the games being played here and the numbers required. Lotsa games, little or no cash risk involved.

Dilute common shareholders much? (As if the hidden Authorized Share increase from 5 Billion to 30 Billion weren't enough.

SEE:
CEO SECRETLY increased Authorized Shares to 30 Billion...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99429725

SEE:
"Death Spiral Financing" and "Funding Commitments"...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108323451

AND:
"Toxic Financing". Why $RIGH is a "failed business"...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=108275566

Look, nobody but Taylor Moffitt of HolyDean, and MAYBE "Angel" knows the exact nature of the scheming here. But it is clear that existing shareholders' will be screwed with the launch of the new company.

Neither Moffitt nor Angel has any expertise at building a business. (Some other time for the argument about "Angel's" business creation.) Moffitt's expertise is in bringing new companies into existing shells- reverse mergers and such.

RIGH, as a "cannabis testing lab" is a failed business, greatly overshadowed by others in the space, SCLabs, Steep Hill Labs, Cannlabs, etc., and is a virtual non-player with no industry recognition.

RIGH CEO "Angel" Stanz has been hiding in the shadows since taking over RIGH in HIS reverse merger and now all he can do is try to pass it on to the next scammer.

Stanz has even proclaimed (in an email to a private investor, of course) that he usually doesn't attend industry events. So much for marketing efforts.

And he's declined (or ignored) an invitation to be interviewed by Alan Brochstein, perhaps the most prominent industry analyst. Brochstein has disclosed this on a subscription site, so no links are available, but here are his creds:

http://seekingalpha.com/author/alan-brochstein-cfa

So RIGH's value here will be in the offering of the shell to another company. And the proceeds from that will be minimal (in the $500k range at best) and will mostly accrue to 90% owners Tuzzolino and Stanz.

Common shareholders be damned.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107081654

Enough.... have a good weekend all.