Here is some good news possibly,
"The Company's belief that the Company's officers, directors and principal shareholders will pay the Company's expenses is based on the fact that the Company's officers, directors and principal shareholders collectively own approximately 71.02% of the Company's outstanding common stock and will likely continue to pay the Company's expenses as long as they maintain their ownership of the Company's common stock, so long as they do not incur financial hardship."
Company insiders including the CEO have personally assumed a combined $300k in debt. The loans are payable in common stock convertible at .2 per share. Even if insiders were bailing they could not liquidate their 35mm shares efficiently enough to recoup their personal investment.
I think the Company thinks they have something with this copper project, but they are running out of money quickly. That would explain the paid promotion. Pump and dumps generate stock buzz which can help a company solicit outside investment. When they closed the deal with Goldfield the stock was trading at .2, who's to say the deal would have still closed if RITE had been trading at today's levels.
In order to justify a stock price of even .10 per share, the company would need to be generating something like $4 mm in income per quarter, which seems like a major stretch. but according to the Company's most recent SEC filing, they have the rights to %50 of the profits from the Mexico mine. So if Peckman can even partially deliver on the 4000 tons of copper he claims to be moving, then, at $3500/ton (which might even be conservative), that $4 mm figure looks a little more reasonable.
And FYI, I drove out to the site of their new processing center and 55 South Geneva Road. There was no obvious construction but the land was under contract and there was what looked to be preparation for something.
