I've never done a formal study, but over the last 35+ years of playing the pennies, I would surmise that I have made as much $$ on "scams" as on legit business enterprises. Remember, we are playing in the swamps here, so legit business are the exception not the rule. Go back and study the last several years of the biggest runners - how many are still around? I personally have no clue as to whether $RITE is legit or not, but that really does not mean much for trading the ticker.
That is a good question. and a two part-er. Yes this is a scam.... it has been a scam in all its past lives.. .and the 'new' mgmt is just the same guy sucking in shares as a 'consultant' in the previous scam version of rite. to others points.. we all have made most our money off scams like this. So the question is can rite value the Skull Valley lease? Yes and no.
They can post about ...hype about and make claims about deals... but they can't value it on their books until they do an audit and the SEC approves it.. they have to fully reporting first......
First hurdle is to show they have a legit land lease... for 10 months they have struck out on that one second hurdle is they have to spend a load of $$ they don't have to get an audit done... ( the SEC won't take scam shares like our IR does) third.... the SEC will need to weigh in.
So I think you can see where this is going... I sold my millions of .0001s way too early but i can't complain about making money off a scam like this obvious one.
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