David,
Trying to understand the market has always been, and will always continue to be, a big challenge. I've seen stocks go up on bad news, and down on good news. This is one of those instances that we, as management, have a difficult time understanding why the market reaction was so poor to our news.
We are committed to accomplishing the goals and objectives established at the beginning of the year. RCG was essentially bankrupt a year ago. Since then, with the assistance of Credifinance/InterUnion, RCG received a bridge loan, restructured nearly all of its debt, cleaned up its balance sheet, closed a $2.5m financing and signed a Share Exchange Agreement with a very dynamic, fast growing biopharmaceutical company, and is now on the verge of a significant financing. The business accomplishments have been tremendous. The financial rewards for this have been very illusive for now.
Tax loss selling will be overwith soon. Bridge investors and Special Warrant investors are under water so it doesn't make sense that they would be selling. Your guess is as good as ours.
Yorkton has been a net seller of over 1 million shares this year, possibly short. I wonder how they would feel if the stock rallies?
Joe |
