Allstocks.com's Bulletin Board: Is RNKE done?

This is topic Is RNKE done? in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.

To visit this topic, use this URL:
http://www.allstocks.com/stockmessageboard/ubb/ultimatebb.php/ubb/get_topic/f/8/t/003071.html

Posted by The Hippo on :

I bought RNKE at 0.017. Is it done moving up? Hold or sell for a loss?

Posted by glassman on :

Stalled because of yeserdays news-- I can't tell you whether it is going to continue moving up again, but it didn't retrace too bad--the key is whether or not they actually get the 10 million$ bond deal off the ground.

Posted by The Hippo on :

glass- what news are you referring to? all I saw was news that their bond deal is halfway complete

Posted by rajarammx on :

Well, if your take in consideration that this stock is up from 0.003x as of 1st Week of December 2003. Then today it has a gain of over 1000% & this down day is simply a correction & prfit taking, & a healthy one.

It had a resistance at 0.0080 which took couple of days to break. It went down all the way to 0.005x before breaking 0.008x

The next resistance is 0.015. Now, if we trust that the 100 million bond is happening & the buyback is actually taking place, this will fly.

On the other hand, the company has given us mixed news. On the day they reduced float (50 million), they added another 400 million shares thru S-8. In theory, in their Dec 27 PR they were very clear that the bond completion was halfway thru, & now it seems that it was the process which was halfway thru. This is a major setback & do not believe that this really was a mixup. Then again maybe they should fire their PR Releasing staff. Nobody knows.

I will be holding this, since despite the mixed signals, the stock has performed pretty well.

I really do not have an exit point yet. It all depends on the buyback program.

It is important to do your own DD before investing or selling.

Posted by rajarammx on :

Sorry, I meant 10 million bond.

Posted by Gonnaplode on :

Should point out that even the new PR stated that they were still on target for completion....I assume this means Mid January as posted in the earlier PR...

All in all it means we will hear more about this coming soon and the pps has lots of room to move up.

The S8 shares locked the consultant in until Nov 19th 2005...I doubt if these shares are currently being traded (JMO). I know I would be holding them if they were mine.

Posted by tacamo on :

Roanoke Technology Corp. Announces Office Relocation That Will Yield Substantial

Savings in Operations
Cost

Business Editors/High-Tech Writers

ROANOKE RAPIDS, N.C.--(BUSINESS WIRE)--Jan. 14, 2004--Roanoke
Technology Corp. (OTCBB:RNKE) announced that a decision has been taken
to relocate the operations of the company to Rocky Mount, NC as this
move will result in substantial savings.
This move will yield savings of $42,000 on lease payments and
approximately $18,000 for internet and long distance telephone charges
over the next three years. This new location will also eliminate
completely building maintenance costs for the next five years.
RNKE C.E.O. David Smith commented "A further significant benefit
of this move is that the labor pool in the new location has higher
educational levels combined with more advanced skills. The location of
Rocky Mount, NC, which is half way between Raleigh and Greenville,
also widens considerably the workers market available to the company."

Note: "Safe Harbor" Statement Under The Private Securities
Litigation Reform Act of 1995: The statements in the press release
that relate to the company' expectations with regard to the future
impact on the company's results from new products in development are
forward looking statements, within the meaning of the Private
Securities Litigation Reform Act of 1995. Since this information may
contain statements that involve risk and uncertainties and are subject
to change at any time, the company's actual results may differ
materially from expected results.

--30--EG/mi*

CONTACT: Roanoke Technology Corp., Roanoke Rapids
David L. Smith, 252/537-9222

KEYWORD: NORTH CAROLINA
INDUSTRY KEYWORD: TELECOMMUNICATIONS NETWORKING SOFTWARE HARDWARE
PRODUCT
SOURCE: Roanoke Technology Corp.

Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.

Jan-14-2004 14:22 GMT
Symbols:
US;RNKE
Source BW Business Wire
Categories:
MST/I/CMT MST/I/CPM MST/I/SOF MST/I/TEL MST/L/EN MST/R/US/NC
MST/S/PDT TGT/BWN

Posted by The Hippo on :

sounds like good news...Id like to see a little pop to free up some funds

Posted by rajarammx on :

The next PR which will definately make this go up would be an update on the 100 million bond completion & buyback program.