Not Making the Same Mistake Twice

By: Robert Grosshandler | May 10, 2019

Yesterday we filed with the SEC the paperwork necessary to have our offering requalified. Our offering allows us to offer people the chance to earn our stock. Without a qualified, effective offering, we’re not supposed to offer our stock (either for sale or to be earned as a rebate).

Last year, for several reasons, we screwed the process up, so we didn’t have a qualified offering between mid February and mid June. And then we had to offer to buy back any shares earned during that time. That cast a dark cloud over us until December, when the rescission offer was complete (and two people had taken advantage of the buy back offer).

What’s Next

The SEC considers our filing, and if they have questions or comments, we’ll go through a process of responding. The timing for the whole process is set out clearly, and the SEC in the past has executed their part of the process really well. When we started this journey, I was worried about the big bad bureaucracy of the SEC. I was wrong, they’ve been great. I haven’t always agreed with them, but they’re clear, precise, and prompt.

Once they’re satisfied with the filing, we’ll be “qualified” for another year. If the process goes beyond June 13, we’ll have to stop offering our shares as an incentive. We don’t think that’ll happen. If it does, that’s a very bad day.

What’s Different This Time

Not much. Officially, what we submitted is a Post Qualification Amendment (“PQA“), since this offering was originally qualified in June, 2018. We amended the offering by updating the numbers (it now has 2018 financials, for instance), talking about Bitcoin awards going away, and the fact that we’ll no longer accept Bitcoin or Ether for the purchase of our shares. Interesting side note, not a single person offered to buy our stock using crypto.

What This Means for the Stock Price

A big fat nothing. Mostly. This filing only affects our ability to sell stock. It doesn’t affect people who already own our stock. They (you) buy and sell on the market.

There is an interesting question, yet to be answered, about how the fact that we’re encouraging folks to go shop and earn stock (priced at $.15/share) interacts with, and is affected by, the market price of that stock.
And if you haven’t noticed, there’s been some activity there. As I write this, somebody just paid $.165/share. I need to repeat myself. Right now, stock price is a distraction. A fun distraction, but a distraction.

Go Buy (Stuff & Stock) – The Self-Fulfilling Prophecy

My theory on that interesting question is that our members respond to the stock price, with a greater inclination to use iConsumer as the stock price goes up.

When you buy “stuff” via iConsumer, we make money, and when we make money, the hoped for result is that the market recognizes that, and our stock price goes up. Be sure to make it easy on yourself, get the iConsumer Button and see what the latest and greatest deals are.

Our stock price going up hopefully incentivizes our members to shop more and tell their friends to join and shop more. And, the cycle repeats (we fervently hope). It’s one of the reason I’m telling folks to buy our stock, and suggesting that selling right now is counter-productive.

TD Ameritrade, like most brokers, is very happy to help you buy RWRDP on the open market. You can buy a small amount of shares with about 5 minutes of effort. And we’re always happy to have you invest directly in iConsumer.

Thanks!

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