Still dead as a door nail...but GZFX's move led me to do some DD.  Both GZFX & RNKE have similar share structures imo, (o/s over 1 billion, billions more authorized) and both have accumulated deficits in the $20 million range...Who knows, maybe RNKE has a snowball's chance in hades aferall?

Quoted from krill

Still dead as a door nail...but GZFX's move led me to do some DD.  Both GZFX & RNKE have similar share structures imo, (o/s over 1 billion, billions more authorized) and both have accumulated deficits in the $20 million range...Who knows, maybe RNKE has a snowball's chance in hades aferall?

As you know,
I was just reinstedet by SETH and I'm not allowed to disagree with yo.
As you know, I disagree with many of your Picks, but that's all gone.
I wish you all the luck in the World, and I hope you will be successful.

Former UGH45 - GMH37 - and now
JOHANN67

Ugh, you can most certainly disagree with me....all I ask is that we keep it respectful.  RNKE is a seriously flawed company, I was just commenting that if another serioulsy flawed company (GZFX) with similar fundamentals and share structure can get pumped up...maybe RNKE can too.  There's no fundamental value here though.

RNKE down to .0002/.0003 bid ask last look.  The last 2 quarterly filings showed the same number of outstanding shares (about 2.9 billion) which means there hasn't been any dilution happening for those periods.  With the lack of news/hype/promotion I'd be suprised if there's been any dilution in the past 3 months as well.

With 20 billion shares authorized there's only one way I can see them being diluted into the float...and that is with a major pump.

We should be seeing their next SEC filing any day now, I personally doubt there's been any more dilution going on....still waiting on a possible pump.

Scraping the bottom with a .0001/.0002 bid/ask.  Will or won't it get pumped?  That's the only question here imo.

I don't know Krill.  .0001 may be the bottom until a reverse split.  This company has issued an average of  over 109,000,000 shares per month for the past 27 months.  The authorized shares are 5 billion with well over 3 billion outstanding.  The issuance of shares must accellerate now because it takes a lot more shares for the management to receive the same monetary value.

Look over the most recent filings at pinksheets.com popeye:

As of September 20, 2004, we had 2,946,524,239 shares of common stock outstanding, $0.0001 par value.

As of March 22, 2005, we had 2,946,524,239 shares of common stock outstanding, $0.0001 par value.

Number of shares of the registrant's common stock outstanding as of February 23, 2005 was: 2,946,524,239

As of June 21, 2005, we had 2,946,524,239 shares of common stock outstanding, $0.0001 par value.

As of September 21, 2005, we had 2,946,524,239 shares of common stock outstanding, $0.0001 par value.

In other words, from September 2004 to September 2005 there's been zero dilution.  Has there been dilution in the most recent perios (Oct-Dec)?  We'll see if/when their next filing comes out.

RNKE got a ton of cash from Cornell, (see the sb2 filing) and haven't needed to dilute.

No dilution in the past year, unless indicated otherwise in the next filing....and Cornell sitting on a whack of shares according to the most recent sb2a filing.  Golden Gate was the CD holder with GZFX and it got a helluva pump....anyway here's hoping.  

Of greater concern to me is the possibility of RNKE moving to the pinks....if dilution starts popeye imo it'll have to come with one helluva pump.  Look at GZFX's bottom line...without the PPS getting pumped up like it was I'd argue nobody would have touched it.

Where are they getting their money to survive?  They have continued to lose money and do not take enough in to pay their liabilities.  I hope that there is a huge pump so that you can ease out of this thing.  Good luck!

If you look at the most recent financials they're not losing that much money anymore, less than 100K for the most recently reported 3 month period if memory serves.  And I believe they got over $1 million from Cornell in exchange for the CD last year......

It's Cornelll sitting on something like 13 billion shares according to my read.  They've had CDs with companies like RNVO and CYOS so a pump may just come to pass....

Kinda curious though popeye, how did you conclude they'd been issuing over 100 million shares per month for the past 27 months when there hasn't been any dilution in over a year?

Sorry Krill.  I took the average for 27 months .  From what you say all of that was issued in just 15 months, prior to the past year.

Well...I don't have the link, but it looks like the SEC is taking action against RNKE's CEO Smith.  I don't know how that'd affect Cornell with their 13 billion shares refereneced in the sb2....but if they're gonna dump 'em I'm thinking they'll want to do it before action is taken.

Here's the link.....

http://www.sec.gov/litigation/litreleases/lr19511.htm

Here's a snippet:

"According to the complaint, from 2003 through October 2004, Smith had Roanoke issue over one billion shares, pursuant to several Form S-8 registration statements, to Bojadzijev and Clark, purportedly to compensate them for services provided to Roanoke".

I just love the speed of SEC action and enforcement.  It's now 2006 and at some point in the future they're taking action against Smith for activities that took place in 2003 and 2004....enforcement at the speed of dark.

In fact...I wouldn't be suprised to see a settlement reached with a fine being paid.  I've seen so many cases where the settlement includes no admission of guilt but enjoins the accused party from engaging in the type of activity they never admitted to in the first place....again.

RNKE is of course still trading and we shall see if some type of pump ensues...with Cornell listed as the "selling stockholder" in RNKE's sb2 filing...and with somewhere around 13 billion shares I still think there's a decent chance of a P&D.