I spoke with him Tuesday afternoon after market hours about the filing. I didn't post about it because although I'm positive he didn't tell me anything he wasn't supposed to, he is very cautious in what he can and can't say and I didn't want to accidently get him in trouble.
Here is what I can say that I know for sure:
1) He told me they expected the PPS would drop with the filing - I don't have any other information, but that's what he said. So maybe they have a plan, but it was at least encouraging to know that they expected this as opposed to just dropping it and being surprised. He didn't seem concerned at all and it sounds like they know what they are doing. Like the offering was necessary for something bigger. Their next steps in moving forward.
2) He is not answering any emails or posting on Twitter because he is being very careful about what he can and can't say. He also told me they are working on a solution to this, but didn't go into any detail - Perhaps they are hiring an IR firm or bringing on someone specifically to manage their PRs/Social media.
3) I asked him about the purpose of the offering and told him I read $1.1 mil will be used for advertising and 400K will be used for inventory. He confirmed this and when I asked about the other funds he said it will be used to clean up their balance sheet. I also asked if the shares sold would go into the tradable float. He wasn't specific in giving me a yes or a no, but said this will not have a negative impact on shareholders (other than the panic selling) and will be a positive. He also said they have been and are very cautious about diluting shareholders.
4) I asked about CPAP machines and their products being used to help with COVID-19. He said the articles we have read are true and that CPAP machines can be used as ventilators. - That's it, nothing further. Doesn't sound like RemSleep is involved in this yet as they as just getting their products out there.
5) Lastly, I pretty much begged him for a PR or Tweet and told him the silence is deafening... He said he understands and they are hard at work. I said is there anyway you could put something out to coincide with the 10-K that will be filed soon? He said that is correct, it will be filed soon, its already been audited and everything. I asked again for a PR or Tweet to update shareholders and he said they have been working hard and will update everyone shortly.
Hope this helps; that's all I have...
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