Rim Semiconductor Company (fka RSMI)

[shazaam]

Of all the risky investments I have made over the years I have never seen so many going concerns in a filing before. This is flat out scary for any owner in this stock. On a good note the word salary wasn't mentioned in the paragraph below. Of course the word operations could mean daily expenses which would mean more salary for the boys.(raise your hand if your ready to pony up another $300,000 for the boys!)


We need to raise approximately $300,000 on an immediate basis in order to
keep current essential vendors and suppliers and maintain our operations as
presently conducted through the third quarter of fiscal 2004. We will need to
raise an additional $3-4 million to complete the design, testing and commence
the commercialization of our Semiconductor Technologies. Except for the
approximately $900,000 net proceeds that we expect to raise from the proceeds of
our Convertible Debentures following the effectiveness of the registration
statement of which this Prospectus is a part (of which approximately $86,500 has
been pre-funded in April 2004), we have no commitments for such amounts nor can
any assurance be provided that we will be successful in raising these amounts on
commercially acceptable terms.