The average market cap of companies on the TSX Venture Exchange in Canada is $27,000,000. How does a company like RCCH with a market cap of about $35,000 make such a transition?
Some say wait for the audited financials. LOL on that. There is no proof they even own IWS at this point let alone hold any interest in other companies. It is all smoke and mirrors. I would imagin that RCCH is essentially bankrupt but they have their ATM machine still in operation for now at least.
The cost of trying to move to another exchange are staggering and they could have used their money from investors far better to keep the lights on.
The collapse of Lehmans brings a company like RCCH into far clearer focus. Then the collapse of AIG the USA's largest insurer this morning adds further clarity to the situation. In this market it is all about the cash I don't think Newton has any left after paying the 9 attorneys, auditors, accountants and advisors he added to the payroll in May.
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