Replies to post #1657 on Rimrock Gold Corp (RMRK)

[stockbar]

It's in the sticky's on top of board; verdict1 Share Tuesday, December 14, 2010 4:59:03 PM
Re: None Post # of 1657

Current OS and Float explained

from last 10-Q
State the number of shares outstanding of each of the issuer’s classes of common equity, as of July 20, 2010: 77,037,250 shares of common stock.

From the current 10-K
Number of shares of the registrant’s common stock outstanding as of December 14, 2010 was: 30,390,000


Initially OS was 77M which included OS of 15M + 61M issued for the acquisition attempt made earlier in the year. That was cancelled and as a result all the 61M were cancelled. Please check the current 10-K.

So OS was back to 15M.
Next They acquired the Lithium Project for which they issued 15M shares from whom the property was purchased. and caused the OS to increase to 30.3M

Again based on CEO's email and many people talking to him these 15M shares are restrictive in nature and also CEO himself owns 2.3M in restricted shares. Leaving the float at around 11-13M

All the selling recently was overdone and people short here will have to cover high going forward

[verdict1]

Please see the last 10k. These are canceled as the deal didn't go through.