Shades,
Although I'm currently busy catching up on some other long neglected threads that I have bookmarked, I will take time to answer you.
Thank you Ron. I really do respect that more than anything and your time is not wasted here, I only wish more people felt as you do, no matter what happens either way I have not seen you get over emotional about this thing and make wild claims either way, your rationality is something the other nays could learn from, you seem cool, collected and calm and not in an admitted ego battle and that is the kind of stock market man I would want to manage my money.
About us all making mistakes, you're right. But when the company has a fiduciary obligation to release accurate and current information and they don't for many months, then we have a violation of securities regulations and a justification for a governmental investigation. The company has not released filings that truly reflect its current or past operational status. Like I said before, if you are a regular "joeblow" investor researching this company and reviewing company press releases, you have an entirely different picture of its status than the company has privately admitted to.
I have seen it said here where this is a common occurence among many BB companies and even though it may be wrong it happens all the time, management has changed hands and I am sure it will take time to sort through the mess. Just like there are many market makers who illegally short stocks and it is just an accepted act, here are some links to deal with the issue:
nasdr.com
nasdr.com
nasdr.com
nasdr.com
nasdr.com
They are cracking down on these things, but it still happens and will continue, but there have been wrongful press releases the other way too, just to hurt the company, we must remember them as well, as it has been said before, there are alot of issues here on both sides, some of the information may have been from previous management or the current management may not know what all is wrong with the company or screwups from eariler times and it is just going to take them alot of time to get everything together, but when all the cards fall and no matter how many times management changes, or how many screwups previous management may have made in the past, if you have a great product at a great price your company will survive.
This is not a situation where "Letters of Intent" are interpreted as contracts, or assets being slightly inflated. This is a company that has led investors to believe they will have $12 million in revenues in 1997 and has not yet adjusted this. This is a company that declared 4 million shares of stock being worth $14 million as an asset. Yet we have a press release from another company debating this fact. Shouldn't this be reported as a materially impacting event??
Current management has been handed many problems to deal with, and lawsuits take time and statements usually cannot be made about them until all is over and done with. Problems are inherent here, possibly from many old issues current management inherited and still may not be aware of, or problems that current menegement themselves have created, but we all make mistakes and it takes time to work out problems, we will all know the truth in the future, but give them time to get things going and ready, we all know they have a great product in a growing market, they may know water and not know accounting, that does not mean they cannot make it rich.
Between lawsuits, and fradulent press releases, and mergers, and financing, and getting deals signed, and phone calls and getting production going, and figruing out shipping methods and freight, and meeting contacts from Asia you must admit RMIL is under many more pressures than a "normal" company that does not have to deal with all of these issues.
We are not talking about mistakes here. We are talking about misrepresentations of actual fact and serious violations of securities regulations. An unknowing investor investing solely off the financials and public releases without talking directly to management is being woefully misled as to the current revenue stream and profitability of the company. N'est Pas??
Nothing else matters.
When you say this though, you must make it clear that misrepresentations has been made against them too that were not factual and currently there are many lawsuits both ways and in many different areas, we will not know the results of everything until the courts decide and that could take a very long time. Maybe Puhr knows water and knows asia, but is not completely affluent with what is business practice here, maybe the way he thought he could bring that money over to RMIL was incorrect, that does not mean he was trying to do something illegal, I realize ignorance is not supposed to be an excuse, but there is alot of it out there. Until we have all the facts Ron, you and i are just both specualting. Like I said, when the investigations are over and the courts have decided, then we shall all know, but whatever happens to anyone, the company has a gold mine and there is big money there no matter who is managing it.
And you're wrong. The RMIL thread is widely regarded as an abomination here on SI. That is what drew me here. I wanted to see what the hoopla was all about and whether or not the hype being generated here was justified. I base my negative opinions on the fact that it is not.
Again only time will tell, but wether things go up or down, that will not invalidate the internet as a source of good information and good research, you can go to a library and read a book on how to assasinate someone, that does not mean the library is bad. |
