The commends about JP being out of the office promoting instead...

The commends about JP being out of the office promoting instead of inside are nonsense, what is he meant to be doing as the CEO? Cold calling or programming as opposed to marketing the product as the face of RFN? Having said that the amount of praise this guy gets on this forum for doing his job, without transparency or clear communication is not warranted. His attention on other companies when RFN is IMO not in the best position is of concern.

Raising funds to keep the lights on. To an extent its true, if RFN can’t grow their client base and their revenues they will go out of business…. So naturally when expanding internationally it is crucial that they can sustain their efforts to grow their client base. Just because they are hiring doesn’t mean they are in a great financial position, it means they need people so that they can get more clients.

The comments about having 400 clients in Aus/NZ, 250 in US and 300 in Asia by the end of the year would have been nonsense when the price was 1.80 and are borderline delusional now… I’m not saying they can’t sign up 100 or 50 in these areas… But if it takes them over a year to reach 150 in Aus what makes you think they can sign up twice as many in Asia or the U.S in LESS time? These two markets are culturally different, regardless of whether the product meets their needs or if the sales team increases their “skills exponentially.”

The way the company makes its announcements is quite poor, and drawing parallels between how the announcements talk about “rapid growth” or “rising potential” is nonsensical. What company is going to say “10 clients signed, not bad.” Announcing the wooboard clients when 8 or so of them are paying $1 on contracts for who knows how long?

I do like the idea of the product but ultimately RFN needs to generate revenue, and be able to break even at some point. If they can in fact continue to grow their customer base, then they have a chance. But realistic expectations….

IMO it’s a good product but by no means revolutionary. The next quarterly will be very telling. For me there is too much uncertainty when I am more confident sleeping at night holding other stocks. Loss aversion is something i myself am guilty of too, in hindsight it would always have been the right decision to sell and buy back cheaper but anyone can say that now.

GLTAH