Thursday, January 13, 2022 2:39:06 PM
I have added to my position since the above post, with buys in the .045-.091 range. Currently holding a little over 485K shares at an average under .0664 per share. Up until yesterday's volume spike, I was finding it increasingly difficult to get any orders filled at prices under 7 or 8 cents.
Definitely high risk (I'm not entirely comfortable with the prices I am paying), but I'm practicing the investment philosophy of trying to buy shells/RM situations early in the process and when there is minimal investor interest in the situation. My gut feeling is telling me to get my position built now. The annual report is due around the end of March, so we should get a potential clue of what is happening with the shell within the next 2-3 months (if no press release or announcement is made prior to that).
My expectation is that RINO will see at least a $10M valuation on its legacy shares. Depending on what legacy share number I use (59M or 29M), I am anticipating that RINO will see minimum prices somewhere in the 17-35 cent area.
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