1. Quite common for startups to go back and raise more money, in fact it's almost seen as inevitable for nearly all of them if they're making any reasonable attempt to make money. And usually a speculative stock will have a hard time raising money in the first place.
I couldnt agree more, but if you take away the high salaries and the $1M paid to Digital4age they wouldn't have needed to raise the $2mil
2. It's a bigger waste of investor money to give up on a product with a lot of potential and perhaps see success than to let it fail.
The 4c's report will show more detail about what these guys have been able to achieve in 9 months with $8 million
3. Seems legitimate. Researched stock today, come out of the woodwork only to post on this one stock and down Ramp with no other posts anywhere.
I have been a member for awhile and i don't post, i see no point. With this one however i personally think its crazy how the investors have let the board run wild with spending like this.
4. Well the business model was actually quite clear to begin with, pricing structure ect was clearly available. It has since changed and we will likely get an update. As for the rest of it, we will have to wait for revenue to start flowing in to see how it should be attacked. I am sure they are figuring it out as well.
If the business model is so clear "today" can you answer the following questions:
How much does RFN make on average per client?
Whats the retention rate like?
Talk of a pricing change in the press, does any shareholders know what this change is?
(4.5) As for "triple dipping" it's extremely common for executives in Australia o serve on multiple boards. Even CEOs of large cap companies like TCL is on board with some mining operations from memory.
This isn't what i meant by triple dipping at all, i think its healthy for senior executives to sit on other boards etc. What i'm talking about is High Salary, Stock & service agreements, this cost the company $millions per year. This is the actual part that annoys me the most. Founders lining their pockets with investors money to do a job were all funding. Its a huge red flag. I back companies where the founders are 'in the risk with us' pay themselves enough to survive and ensure every cent the business has goes on the business becoming successful, i couldn't ask for anything else. I have seem a few posts since mine with "shareholders" saying this is completely A-OKAY.... it was disclosed etc etc. It's not okay when the company raises cash right before a 4c release to the market "must be positive news for everyone" grabbing whatever cash they can at the last minute before it really goes south. These guys should of raised 8-15 million when the stock was a dollar.
Has the company disclosed yet if they are still paying this $110,000 pm to digital4age?
5. Entire market is down this year so it's natural to see a larger decrease in small caps not limited to RFN at all. They are still 25% up on IPO.
I will reserve my comments about why the stock went up and down so quickly. 25% at the moment with sell trade at their is buy, it wont hold at these numbers for long, in a week you'll be below ipo IMO.
6. So how else will they get clients? Call the receptionist and ask to speak to Steve Balmer? Yeah right. They're building relationships and respect so people know who they are and that they're capable. Spreading the word, getting articles written about them, it's publicity and sales, and it is not uncommon in the slightest.
Not exactly sure what you're talking about here in reference to what i said, the self promotional conference where the kiddy CEO's travel around the world talking about themselves burning up investor cash. i saw on Jamie Prides twitter account
he posting Business class seats, no doubt he's eating at 5 star restaurants and staying in 5 star hotels. each to their own i guess but again, if this is money well spent i'll eat my words in a week when the 4c drops and shows this amazing result for the quarter.
As for tricky revenue reporting. If I am remembering correctly the confusion is from the quarterly, where they were reporting revenue that is yet to be recieced and is coming with an invoice. They rectified that with the half yearly and stated they are going to report the money as it comes not as its invoiced.
So really there is more clarity with statements than previously which is great. Less confusion for everyone.
This isn't what i was talking about, i was speaking about how i read through their half yearly report and i see this revenue graph. Shows great month on month revenue growth.... well, until i figure out its aggregated revenue month on month.
Never in my life have i seem a company get so fancy with their numbers in a report like this. When you dig a bit further it gets even worse, some of the revenue (25%) hadn't even been received yet. All i can do is shake my head and honestly feel sorry for the shareholders that have lost $$$ on this company.
My sentiment is SELL, run for the hills and stop enabling these sorts of reckless practices.
Jamie Pride should address shareholders concerns or Peter Clair needs to fire him! The company might have a fighting chance.
RFN Price at posting:
27.0¢ Sentiment: Sell Disclosure: Not Held
(20min delay)