posted
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.
Posts: 36378 | From: USA | Registered: Sep 2003
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posted
glass- what news are you referring to? all I saw was news that their bond deal is halfway complete
Posts: 1148 | Registered: Jan 2004
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posted
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
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.
Posts: 95 | From: Watertow, MA, USA | Registered: Dec 2003
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posted
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.
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posted
The next PR which will definately make this go up would be an update on the 100 million bond completion & buyback program.
Posts: 635 | Registered: Nov 2003
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