Actual reason for RS
Long time reader, first time poster. Just discoverd the real reason behind the latest rs. These people are complete crooks!
Everybody who posted that it's to screw those over who purchased restricted shares last year, are partially correct.
The rabbit hole goes deeper!!
The following is a PR from last year:
ORLANDO, Fla.--(BUSINESS WIRE)--July 11, 2006--Raven Moon Entertainment, Inc. (OTCBB:RVMO - News) announced today that founders Joey and Bernadette DiFrancesco have exercised the company's current 40-for-1 warrants to buy 4 billion shares of restricted common stock that will be exempt from the announced 1 for 20 reverse split on July 17, 2006, as well as from any reverse splits for 12 months following the purchase of the shares.
So, what did we learn? Joey isn't gonna get hit by the split. The stock price will pop just in time for his 4 BILLION!!! restricted shares to become unrestricted, and allow for major dumping and profit taking!!
It's all clear as day.
--remember, warrant holders had until the end of July to exercise their warrents. Most exercised early, and will get hit by this next rs. But not good ole' Joey!