Does that mean you own 0.5% of the $11 Million in the bank, which amounts to about $55,000???
Not to mention the rest of the enterprise that brings in another $2 Million per year.
Or the fact that they have shareholder approval to issue up to 15 Million new shares, up until May 22.
If the top 4 waive the right they could give generously to shareholders the rights to 5 for 1 at 10 cents, very easily, and raise another $1.5 Million.
That is unless shareholder number 3 decides they want them more.
Sinotrans, the Chinese State owned monster of a company, has expanded into shipping over the last decade. And are very big in China, in the same dry bulk shipping niche that Richfield dominates.
But just looking at the last page of the annual, the shareholder details are freakish. Of the 1061 shareholders, 694 hold less than a marketable parcel. And only 24 people have over 100,000 shares.
Makes me think the are going to give the rights directly to the shareholders, to reward loyalty, some time in the next six weeks. Unless a better offer comes along.
RIS Price at posting:
14.0¢ Sentiment: LT Sell Disclosure: Held
