RLV has found a new way to torture its shareholders First, it was sheer incompetence by driving a once-successful, profitable Bioganix e-commerce business into the ground.
This took the stock from 27-30 cents down to 7 cents.
Then, it promised and failed to deliver a single thing in the cannabis space with Biocannabix. Well, if you don't count the multimillion-dollar writedown of Cannakids. Ouch!
That cut the share in half, from 7 cents to 3.
For its next trick: Hand sanitizer!! Preorders of $250k, a national distribution deal with the Paper Store., Blah blah....ZERO SALES EVER in its actual financials.
Enter the Management Cease Trade Order and the Regulatory Fine leveled against them.
You would think they'd run out of ways to torture its shareholders, who watched the stock go down 90%, be diluted with now 211 million shares outstanding (4 million new shares just in the last 90 days, only to keep fees paid!) and over 50 million warrants at 5 cents....but NO, their Leadership won't stop there!
They're not quitters!
"Hey, I have an idea! Let's halt trading for 48 hours, and say ABSOLUTELY NOTHING! That'll be FUN!"
Welcome to the Circus everyone