RLV the e-commerce company is dead; You are betting on Newco Their Fins ended March 2021 show this clearly:
- Revenues down 50%
- Net loss of $500k
- Debt over $2 million at 15% interest
- It has NEVER posted positive quarterly results since 2019
- Stock continues to be diluted to ensure consulting fees keep flowing. Most recently, a small sneaky line in this one: On December 21, 2020, the Company issued 800,000 shares at $0.03 for $24,000 and on February 7, 2021, 3,390,756 shares at $0.035 for $118,676, for services.
- In 9 months, over $320,000 in fees paid...for what??
So it's official: RLV has given up on e-Commerce, they keep bleeding $500,000/quarter, and for all the puffery around Biocannabix, they remain without a license to allow them to do anything other than issue empty PRs.
In short, anyone still in this company is investing in the belief that it can compete as a small player in the extremely competitive PPE market.
They believe that it can win contracts against established, credible multinationals like CAH, ABT, MCK, and smaller but successful players like AMD Medicom.
How do they do that with:
- No sales team
- No relationships
- No distribution facilities
- No product line (you need more than boxes of Thai gloves)
- No manufacturing facilities (all of the REAL players are vertically integrated...you can never be competitive having to buy from a third party)
The results are clear: In over a year, in the largest pandemic in 100 years, where all major players have signed and announced billions in deals, they have been unable to win any new contracts...and have yet to deliver a single glove to the one contract they have in 8 months.
Best case scenario: They fulfill their single contract, make $1.8 million in gross margin, and pay off most of their debt.
They still lose another $1.5 million in calendar 2021, have zero new PPE deals, and are either delisted or dilute themselves into oblivion in order to keep paying themselves fees:
It would taken 75 million shares issued just to stem the net losses until December...and then it would need to do so again.