I emailed him this with the subject "anything to say about this" no response from him,also I have emailed about the merger with no response
Posted by: twomey2 Date: Tuesday, April 20, 2010 6:20:07 PM
In reply to: None Post # of 48345
All those shares you guys saw today were mine. Sold out completely. Moving on to greener pastures. Might be back here sometime in the future but I have lost my confidence.
If anyone wants to know why:
1. Look up the address on Google map of the place in North Carolina that RR and EXPU said they were going to expand to. If you're too lazy to go find the PR I'll give you the address -- 90 Old Lodge Road Lake Santeetlah, North Carolina 28771 in Graham County. Its no more than a bait & tackle shop on a dirt road in a NATIONAL PARK! When I asked RR about this he could not explain anything. Some might consider this old news but it never really sat well with me.
2. The $111M jumbo loan they signed last year completely disappeared. They never saw a cent of revenue from that loan. RR will tell you this himself. Like everything else he claims that they are still "working on it." Well, I'm sorry, but loans dont take years to work on, especially if they felt comfortable enough to PR about it and tell investors to expect $20M in revenues from it. That never sat well with me.
3. First they said they were uplisting to NASDAQ, now to OTCBB . Nothing has happened.
4. The infamous acquisition that never happened. RR cant give me more than "We're still working on it" despite my pleas to find out more information or about a time table when we'll hear news.
5. Took them 3 months to reduce the shares like they said they would. And that only happened because of shareholder persistence.
6. In 5 months they've lost nearly HALF of their loan originators. Theoretically that could mean they've lost half their revenue creation. This does not sit well with me.
7. Frankly -- and this is my OPINION -- from talking to RR on the phone and listening to him during Conference Calls... he sounds like a liar.
All that being said, sure this could run back up to .08c. But I'm not betting on it at this point and I cannot afford to go down with the ship on this one. Good luck to all of you.
