RXAC - Do you have any idea on the float size? I recently got into RXAC due to Florida SOS activity that makes it ripe for a big uptrend in the near future. In my opinion from what I can tell it looks like last October, 2011 Dana Pekas the CEO gave up the ghost, so to speak and sold the shell to Ken McBride. Ken probably facilitates shell sales to companies wanting to access the public markets. Then in early may the shell was bought by Michael J. Rhodes of jolly ol' England. Mike Rhodes then filed the first amendment under his control on 5/04/12 with Florida Sunbiz.org. His filing increased the authorized commons from 250M to 400M. And created a preferred class of stock with 100M shares. It was at this point that I bought into RXAC, due to the fact that usually when there is a control change with a shell the new management will do a reverse split so as to use the freed up shares to access the public markets. That didn't happen here, I believe the preferred were created as a tool for controlling interest. I am assuming the public float is rather small as Mike Rhodes didn't deem it necessary to do a reverse split. When he took control of RXAC I believe he received the bulk of the 75M outstanding (hence controlling interest). Anyways when the filings start coming in this has the potential to be trading in pennies within minutes, it's extremely thin on the L2. They are only a few quarters shy of being up to date on 10Q financial filings (which I expect are being worked on now). At which point I assume we will get a peak behind the curtain as to what the new business incoming will be. If you still own shares here I say good luck to you!
