Why are not more of you upset with this pr? Its why I bought some more at the time and consequently why I sold the majority of my shares last week. I feel like I was lied to. Released almost 2 months ago....as far as I can tell NOT ONE thing said in it actually happened. As a matter of fact the exact opposite took place. There was no outreach program(the company has in fact gone totally silent), and there has been no buying whatsoever(the stock hit an all time low this week and is going sub-penny). This makes RTGV look like just another scam stinky pinky. Not a way to run a business or to get the share price higher. Dumbfounded as to why so many still support them with the vigor they do when this proves what they are really all about.
RTG Ventures Plans Share Buyback Program
NEW YORK, NY--(Marketwire - 03/22/11) - RTG Ventures, Inc. (Pinksheets:RTGV - News) has announced that it will commence a strategy of public market support for RTG through a Share Buyback Program to take advantage of what the company sees as a drastic undervaluation based on published financial documentation and forward guidance. The share buyback program will commence within the next few weeks following an outreach and additional communications to the investment community as the program rolls out.
Companies use share buyback programs for many reasons, the most obvious being when their public share price is significantly undervalued. Companies also use buyback programs to make a strong, confident statement to the marketplace. At this point, RTG's management sees its languishing share price as an impediment to business development.
RTG's Media & Payment divisions are not only in vogue but are fast becoming part of everyday life. When augmented to the management, deployment and measurement of social media throughout RTG's divisions and prospective client companies, the buyback is reflective of the company's belief in its people, products and service as well as the market sector it operates.
Dominic Hawes-Fairley, CEO & President said: "Since September 2010, when we officially became an operating company, we made it clear that we were not going to engage in a typical micro-cap stock promotion. While we don't doubt that that these kind of promotions may raise share prices temporarily, we don't regard them to be beneficial for value-based investors and long-term, our research indicates that they do more damage to a company than the benefit delivered in the short term. Instead, during this period, the company initiated longer term strategies, designed to recognize the embedded value being created in RTG leading to a steady and sustainable increase in the price per share."
RTG Ventures announced its investor relations campaign on December 13, 2010 which, it explained, would use internal and external resources to extend the reach of the company's communication to reach new investors. At the heart of the campaign was a social media strategy devised by digital marketing guru Reggie James, managing director of RTG's leading-edge consultancy, Digital Clarity. All activity has now been taken in-house and placed directly under the control of James.
Commenting on the campaign, James said: "A strong foundation is now in place establishing a communication strategy that uses social media to reach out to new investors. As stated when the strategy was being discussed in December 2010, it's not a quick fix, it will take time. It's also important to point out that social media is not a panacea. We have to do other things in order to reach our stakeholders, including new shareholders and the reason we've taken control of the whole process is in order to achieve the goal of increasing return on investment.
"In the past, the company has only utilized the news wires to distribute news from the company to its stakeholders. This gives the company a very narrow focus and prevents some of the deeper issues being articulated, because the news wires are primarily about hard news. Sometimes, there's a real need to issue softer news pieces and sometimes there's a need to add detail to news stories in order for the whole communication to make sense. For this reason, we will be releasing softer news on the company website, detail behind the news on blogs and reserving the news wires for more significant announcements. Social media tools will be used to syndicate all forms of news and in this manner we aim to be able to present a more rounded picture of the company."
Hawes-Fairley summarized by saying: "We have reached a point when the share price is becoming an impediment to business so action is required right now. The management of RTG now believes that it can deliver more value to shareholders by initiating a buyback program demonstrating confidence in the business plan, the executive team, the disruptive technologies and the ability of the company to deliver and grow its return on investment.
"While RTG will continue to reach out to investors and investment groups on both sides of the Atlantic, we want to send a very clear message to the market that this is a Company that has a very bright future. We are undervalued at present, but we intend to change that situation starting in the short term to set the stage for the long term growth anticipated."
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