It’s Friday :)
I don’t mind losing that money- it’s the nature of the beast. I put money into RXPC that I was willing to lose- I have lost a whole more and thankfully I have made a whole lot more than that. Still, $200 buys a few candy bars...
I really don’t understand your points. So I buy shares of Microsoft- should I also be expected to buy an Xbox and every update of Office? I buy shares of Ford- should I be expected to buy a new care every year? I buy shares of Johnson and Johnson- should I stock up on foot powder?
I shouldn’t have to do anything. This isn’t like buying into Amway, where I give a guy $200 and he gives me some audio tapes and a catalog and sends me on my way. Fiorillo is the alleged expert. I have no interest in being Fiorillo’s lackey. He’s the guy with the reported vision and the skills to make money in the pharmacy industry. Clearly that’s not the case. RXPC was never advertised tome as a ‘grass roots’ company, so I shouldn’t be expected to respond as such.
Now here’s my background- I bought back shares of the company as a chart play. I had flipped it a couple times in the past making some decent profits, but I completely lost confidence in the company after hearing Fiorillo stumble through the shareholder meeting, his lack of transparency and reading his vague, cryptic posts on ihub. It just reaked of incompetence. So I stayed away for a long time- near the end, the share price got so cheap I said, man this is way oversold, I’ll throw a couple bones at it and see what happens. 3 weeks later SLAM! Delisted for a year. Oops.
I blame myself as much as anybody for holding these shares long enough for Fiorillo to drop the a-bomb and delist. As you yourself have said- pinksheet stocks are very risky. I took on the risk and accept the consequences. My only problem is that we aren’t calling a spade a spade. He took my money through either greed or incompetence and has the gaul to say it was for my own good. I’d rather be robbed than hoodwinked. Just take my money and run. Don’t insult my intelligence by giving me some long incomprehensible story about why it was for my own good.
I don’t want to hang the guy- in fact, kudos to you Fiorillo for convincing people to invest in your company and for having the guts to ask for even more money after you failed at your initial attempt. That’s some huevros!
Finally, you come on here and boast how your family saved money buying through RXPC, and that’s fabulous, yet somehow my coming on here and saying Fiorillo has ripped me off is somehow okay and shame on me for bringing it up. What kind of business takes money from shareholders, holds them hostage- and then passes on ‘savings’ to customers? The answer: a bad one.
Let me tell you about a great organization- Kiva.org, an actual charitable organization that I give money to regularly. They do micro-lending ($500-$1000) to individuals in third world countries and the individuals are expected to pay it back in time, with a time frame that’s appropriate for the individual, about 2 to 3 years in most cases. Once the loan is repaid, the money is returned to me interest free. Every 3 months, I get a report from individuals telling me how much they have saved with respect to their loan, how their business is doing, etc. They’ll talk about how much they’ve made, how much money went towards supplies, what business is like, etc. Why can’t Peter do the same?
In any event, good luck to those staying in, good luck to Peter and anyone else with an interest in the company.
