RNVA is driving me nuts.
They did another funding deal yesterday added to the Senior Secured New Issue Discount Convertible Debentures due September 19, 2019 / updated from Original SEPT 19,2017 due dated.
for $1,244,000 and one for $620,000 last week.
Aug 1 PR shows insiders own 85% of the OS, which went to 3 billion the same date.
(meaning they have NOT sold into the open market) (Meaning market makers are NOT dumping those to retail)
They own them!
The CEO invested $250k of debit held for 250k series J preferred to gain voting control until SEPT 30th. So any restructuring needs to be complete by then.
Original A,B,C warrants were executable @ .26. So an R/S target could be insight.
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No matter how much research I do. I can't find the data needed to understand what's up the CEO's sleeve. What could/should/will he do to my stock value with share restructuring? But I have come to the conclusion the Debenture is the key. Need ratios of how much is non converted, and how much was and @ what levels would help.
My ownership comfort level has been fairly positive to date. As I feel since insiders own so much, 85% of common. The restructuring won't hurt shareholders. Because these insiders are investing huge amounts and not selling to market makers. As of AUG 1st.
But in the back of my senior moment mind. I recall this happening several times before with bad end results. So I waste time trying to comfort my mind by seeing the actions behind the curtain.
Will note I decided to flip .0001 for a while. Bought @ .0007 in 1 order. Been trying to sell @ .0008 for two days. 5 orders closed and still more then 1/2 not sold. Saw my orders closed in times & sales but they were for exactly 10x my close volume.
Now comfort level concern grows. M&Ms are manipulation large. IMO they are not dumping, they are flipping also.
I've been around, but this one is a gem.
