Rimrock Gold Corp (RMRK)

[valdai]

LOTS OF BUZZ HERE, BUT

Only spent a few minutes reading the 10K, and I could be wrong, but a couple of red flags pop up immediately pop us. I'm being extra cautious, especially after the SA*I debacle.

First, per the 10K, the company concedes to having only $84 in cash and only earned $4500 for the fiscal year ending in August. Yet, in order to complete the deal for the Abigail property, it will have to issue another 15 million shares and raise $550k in cash by May 2011. With an O/S of only 30 million, that sounds like a pretty big hit. Its last deal fell through because it was only able to raise $75,000, so its clear the company will be diluting, the only question is when???

Second, does anyone live in Las Vegas? By the looks of it, their office is is another one of those virtual offices, deja vu, of SA*I.
http://www.superpages.com/bp/Las-Vegas-NV/Virtual-Offices-of-Las-Vegas-L2044624877.htm

Good luck on this one.