Some Questions About RNXI put these questions to this enlightened Board, as I cannot find the answers in the company's official public statements. Not in the public presentation, the MD&A, or the Financials at Sedar.
1) What are the shareholdings of the directors and management? Do the insiders have any skin in this game?
2) Who, if any, are the outside Institutional investors, and what percentage of the stock do they hold?
3) Despite all the operational good news, RNX is operating at a consistent loss of somewhere around 0.13 cents/share. That's big money and it means continuous borrowing and dilution of shareholders which cannot be healthy. Have I missed something, or is bad news good news?
4) There are over 450 million shares issued fully diluted, including warrants and options. That's huge, and will continue to grow with future financings because operational revenue seems insufficient. That's why we have a 0.34 share price. So, are we, retail investors, simply suckers for a good story, or are there redeeming features that I have overlooked?
5) For the Dumont mine to be financed, a lot more money will be needed. Free cash flow cannot cover it, so how will this be achieved?
6) It will take many years and many millions of dollars before Dumont achieves full production, so short term there is nothing here but more misery for retail investors, yes, or no? Longer term, we are on the verge of a market crash and multi-year recession.
7) Already, RNX has some $20+ million in short-term debts that come due for repayment in 2018. More losses, dilution?
8) How much are the directors and management paid? How much in cash and how much in stocks or options? I suspect all cash. Any info on this? I can't find it.
So, although I am interested to put some money in this stock, I cannot commit without some assurances that insiders are fully committed too. The above questions are part of the due diligence any investor should do in MHO.
Please, if anyone can provide some answers, I would be grateful.
Thanks.