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Rift Valley Resources Corp C.RVR

Rift Valley Resources Corp. is a Canada-based company. The Company’s principal business activity was the evaluation of a wireless service business and other business opportunities. The Company's wholly owned subsidiary, Ruralink Wireless Inc., is engaged in supplying wireless broadband services. The Company has not generated any revenue or positive cash flows from operations.


CSE:RVR - Post by User

Bullboard Posts
Post by rainorshine59on Feb 20, 2020 3:54pm
82 Views
Post# 30714544

Should have stated...'as a follow-on to the recent financing

Should have stated...'as a follow-on to the recent financing'...

The $1.4 MM @ $0.05 adds 28 Million to the share count.

Now at ~ 60 million shares issued
...and a further 28 million fully diluted assuming the exercise of the two year $0.15 warrants

Prior to the financing the Insiders controlled close to 26 Million.

Even if they individually did not participate in this round that still puts them at about 40-50% ownership, currently, and ~ 30% after the exercising of the warrants are included.

One should note that 84.3% of the last offering in June 2019 @ $0.075 (and not at $0.75 as stated in the 'typo' filed on SEDAR) was taken up by Insiders.

I'll overlook that proof reading 'miss' that they filed, and continue my accumulation as I see their level of participation on this round.

About 9 million shares that are held by the currently listed Insiders are 'stale'...from 2013...

The next thing should be a NR on the successful conclusion of the Phase 1 deployment in Crockett, beginning of Phase 2, and potentially a name change proposal for the next AGM or 'Special Meeting'...and funding from Microdoft????

Oh well...one can only buy their ticket and hope the train stays on the rails towards the  destination.

Hope these snippets help your DD. 
Bullboard Posts