Rimrock Gold Corp (RMRK)

[mrgnfreeman]

Correct, but they cant sell from the treasury because they never finished the IPO. This whole thing is a dumb, complicated legal maze. But if you look into CRCW's IPO process, you can pick apart what is going on here.

The IPO is completed when the red herring prospectus is submitted. It gives all the relevant information on the public placement that is about to hit the market. This is where CRCW fell short. So they registered 850,000 shares from the S-1, but never got the SEC approval to sell these publicly. This is where the Jobs Act comes in.

The Jobs act gives non-accredited investors, the ability to act as an accredited investor given certain criteria is met. Volume has to stay below a certain percentage, number of investors is limited, as well as other stipulations. You can see in the S-1 that CRCW was listed as a Jobs Act participant. CRCW has yet to do a public placement.

You need to ask yourself: if CRCW is fully reporting, publicly selling company, why on earth would you issue form D's? Form D's are unregistered shares. No one in their right mind would buy unregistered shares from a company when you can buy registered shares more easily. Theres no point to side step a federal regulation if you already complied with the rules to sell common shares.

From this, you can determine CRCW isnt publicly trading, but certain loop holes allow a percentage of shares to exchange hands