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To: Stroke who wrote (2221)5/10/1999 9:15:00 AM
From: tinsoldier  Read Replies (1) | Respond to of 2994
 
Yes stroke I am. I took out a very small, very tentative position at .63 I think in February and Jeff knows this as I PM'd him asking if he knew when RDIM would become fully reporting at which time I would consider a larger position. Jeff told me to ask Folger.

When I bought I was under the distinct impression that the PP took place at .46 and this information come from Jeff. I also received a PM from Jeff prior to buying when RDIM was trading around .75-.80 and before it went over $1.00. I am looking for the PM in my files and will consider posting the details if Jeff continues to ignore this issue.

The simple facts are that according to Jeff's post the InvestRight Club gave itself 2.4 million shares a .17 and then went on to promote RDIM without disclosing this information. Indeed in my case I understood the PP took place at .46. Here again is Jeff's February response to my question and others have asked similar questions and received similar answer.

Message 9428546

Note he begins this response with 'RDIM Relevant Information: Concerning the Original Private Placement Information which is publicly available at the Smilex site'

I guess the InvestRight club underwriting it's own share issue was not relevant in February and I guess I have a different understanding of the word 'original.'

There is also the issue of the float count. Obviously 2.4 million UNRESTRICTED (i.e. marketable immediatly) shares is the starting point for any legitimate float count. If I recall correctly, Jeff was working hard to get to this total even after he stated what a great response he had and that most of the shares where accounted for.

All RDIM investors are owed an explanation at the very least. This situation reminds me of the HVSF thread. If my memory is correct, the originator of that board was charged by the SEC for failing to disclose his position in HVSF while he actively promoted the stock. It appears the InvestRight Club has followed a similar path and I, for one, feel I have been misled.

In case anyone cares, this issue has nothing do to with CLCK, ABMI or anything else. This one has a smell all of its own. I am also now wondering how many other PP's the InvestRight Club has in its closet.