JC - this rs was engineered a loooongggggg time ago and is only playing out the same as most pinkies. My only hope was that we could actually make it past the debut before either RS or further dilution occurred. Do a study of previous Carnes deals and what happened to companies within a year or thereabouts.
I tried several times to bring myself to buy more and average down but could not bring myself to do it having been caught in a few RS deals over the past six months, prgl ( another past Carnes deal). I am now glad I listened to my inner voice and cut further losses.
That is not to say that a profit opportunity will not present itself again with this stock, as it appears the company is set to release marketing hounds this week after the rs takes place. The only chance of making any money from this one is POSSIBLY with more investment. At least you know the BIG event is just about to happen as far as timing goes.
Like I have said before, the company needs money to go forward and not unexpected given its a start up only a year old and having exhausted its bank, needing cash to move forward.
Even a CEO who has the best intentions to begin with must face reality and make tough decisions. One becomes a pink in order to raise cash and fund operations. This is what Peter is doing and intent of the company upon going public.
If cash was gas then I'd have to say that rvgd must be running on fumes and has been for some time. If you want to stay in the game your going to have to ante up again by buying more stock.
I feel for you and ahdioyoda (and many others) with your large holdings, and hope that the rs is only one for a hundred.
The only solace you can have is that Peter is pulling this RS off at a VERY bad time, and this market is not very forgiving at all. It will not take a genius to figure out that after the RS huge dilution will occur.
I have been following the volume and pps performance of pinkie stocks recently pulling RS. It has spelled the end of more than a few as investors unwilling to touch it. See prgl or teca for example. teca (formally tclt) took only a few weeks to reach .0001 - .0002 again AFTER the rs.
If Peter IS going to wipe out current shareholders with this RS, I sincerely hope the same happens to rvgd stock and Peter goes back to never never land.
Good luck to all in future trades. - P.
AI
