I have to admit that when Rino cancelled it's conference call last evening even I, a long time RINO supporter and investor, was forced to admit that it looked as though the company's management was guilty of something.
There's are plenty of questions outstanding regarding whether Rino is a fraudulant company (and countless accusations on this board to that effect) and I'm not going to repeat all of them. Let's just say that by not answering the charges quickly and passionately, Rino has made itself appear criminal in the eyes of the market.
But what if Rino has done nothing wrong except bungle the response -- or what if Rino's legal team put the kabash on any public statements and they had to cancel the CC last night. What if Rino actually is a company in China that does work on cleaning up waste water at factories like it says...and is growing rapidly given the demand for its services. Surely the big guns of Goldman Sachs, Bank of America, Deutche Bank and others who have invested hundreds of millions of dollars in the compnay did some DD...were they not able to discover that Rino had no revenue and no customers?
If Rino is innocent (and I agree that the recent actions of the company call this into doubt), then the company's share price today will be one of the biggest bargains of the year and this story will be told by each of us for a very long time to come. Understandably, Fear has ruled the day for the past week -- but what if greed suddenly jumps out in front again?
I think at this point, given what I've read, it's very likely that RINO in fact inflated its revenue by inventing some non-existent sales. Some of MW's allegations have been confirmed by a third party, though only 1 supposed client was asked. I think the scope of "fraud" may be less than what's alleged by MW, but here lies the problem: there's no way to rationally evalute RINO's worth if rev was inflated by 20% vs 50%. I don't think current institutional holders would want to hold RINO given the prospect of holding a fraud-tainted stock.
IMHO the only "safe" time to buy RINO is: 1. wait for RINO's refute, or 2. wait until all current big holders have sold out.
greed will take over soon enough if the company issues any kind of reassuring statement, but the silence is deadly.
the shorts will all become longs....there's too much buying at this level without any information, so I have to comclude that the only people buying are those who have been in on the manipulation all along, because who else would buy in such an uncertain environment? And if I'm right about that, the stock will turn the corner fast as the company provides reassurance and debunks MW et al...then you will see the same people who were bashing the stock hyping the stock. my 2 cents...I've been out for a few days now - I'm just watching with fascination to see how this all plays out.