Bullboard - Stock Discussion Forum RIFCO Inc. V.RFC

Financial Services Credit Services

RIFCO Inc is an auto-purchase finance company. Its subsidiaries are engaged in vehicle financing. The company provides non-traditional vehicle financing to motorists through a growing network of select new and used vehicle retailers. Its auto financing is available to both franchise and independent dealers who want to create a partnership. The company has its operation in all provinces in... see more

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RIFCO Inc. > Drop then uptake

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Post by Lawyerup on Dec 14, 2020 6:44pm

Drop then uptake

Short term I expected a drop to around $1.10 then an uptake once investors read that the board and CEO have been replaced. Interim CEO until they find a competent replacement for the old one. Things look positive going forward so I expect we will be much higher six months from now. The new board looks much more positive than what they replaced. Just my two cents. All the best, Charlie.

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Comment by SamRothstein on Dec 16, 2020 3:24pm

Charlie, I haven't got div money yet for Rifco stock I bought on Dec.10th. I hope I didn't get a bum steer from the CFO at Rifco. I have it in writing from him that I would get dividend if I bought on the 10th. I didn't buy a lot of stock on the 10th, but i only bought to get that dividend. If it isn't in my account tomorrow I will contact my brokerage. ...more

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Comment by Lawyerup on Dec 16, 2020 6:49pm

Hi Sam, I suspect the 7th was the ex-dividend date as in the notes when my dividend was deposited into my iScotia account. Check with your brokerage it looks to me some people profited off the confusing news release. As stated the Securities Commission should look into this. Cheers Charlie.

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Comment by SamRothstein on Dec 17, 2020 5:48pm

Ok thanks Charlie. I have it in writing from the CFO that I could buy on the 10th and still get the dividend, which is only reason i bought some more shares on the 10th. It was asn't a lot of shares that i bought on the 10th, but enough that I am not going to let it go and I will be contacting the new Rifco executives to make good on this mistake.

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Comment by Lawyerup on Dec 18, 2020 4:08pm

Thanks Sam, yeah I wouldn't let it go either. So when you look at it if I sold my shares on Deceber 3rd or 4th I would still get my dividend giving 3 days for possession date on December 7th. So someone that bought my shares on December 7th or later would not get the dividend based on ex-dividend date as what a normal company would abide to. The news release added to ...more

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Comment by SamRothstein on Dec 18, 2020 6:39pm

thanks Charlie. Yes i emailed them today about it so will see what they see. Luckily it is small amount so I can file in small claims court if I need to. I have a good paralegal that files those really cheap for me.

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RIFCO Inc.