RE:RE: Mr. Joshua Young Acquire Securities of RMP Energy Inc. "Why would RMP do this?"
That was my first question when I saw the PR this morning. This private placement provides RMP with a whopping $1 million, barely enough to cover director's fees. As for shareholders, there is nothing except further dilution.
RMP didn't do this. Josh and Bison did it for their own benefits. They could have spent this million buying shares in the open market, but that wouldn't give them any warrants - a 4 year option to buy shares x $0.75.
How did it happen that a young 'penny stock ' investor took over an entire company by owning 10%? The old CEO and the board just fled without a proxy fight, among other things, requesting an offer for all shares.