Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days, by anyone who acquires beneficial ownership of more than 5% of any class of publicly traded securities in a public company. A filer must promptly update its Schedule 13D filing to reflect any material change in the facts disclosed, including, among other things, the acquisition or disposition of 1% or more of the class of securities that are the subject of the filing
The requirement to file amendments to a previously filed Schedule 13D continues until such filer has reported ownership below 5%. Accordingly, if a change of beneficial ownership results in ownership below 5%, but such change is not a 1% change that would otherwise trigger the requirement to file an amendment, that shareholder can voluntarily file such an amendment to relieve themselves of the Schedule 13D filing requirement going forward (or at least until a new triggering event required such filing in the future).
Will this product be a game changer? In order to retrieve the article google in the following:
"A new approach to the design of retractable needle technology" by Richard P. Meyst.
IMHO, the outcome of the appeals trial is the most important reason for the stock price to appreciate, but after reading this article, RVP should be able to get some traction from this new product. The question now is : Will RVP be able to sell it to the hospitals? Time will tell.....
Investors better read the 10q . Warning signs all over the 10-q. Warned investors in 2010, and warning them now. This is a super risky investment.
From the 10q:CEO Pledge of Common Stock
As previously disclosed in filings with the SEC, our CEO, Alan Shortall, previously pledged a total of 5,301,668 shares of the Company’s common stock owned by him as collateral for multiple loans from two lenders, FP Ventures Limited (“FP”) and Equities First Holdings, LLC (“EFH”). As a result of the decline in the market price of the Company’s common stock, events of default occurred with respect to the loans from FP on September 30, 2015 and, following Mr. Shortall’s entering into an amendment of the loan agreements with FP to cure such events of default on October 26, 2015, events of default occurred again with respect to the loans from FP on December 9, 2015. At December 9, 2015, Mr. Shortall had 3,401,668 shares of the Company’s common stock owned by him pledged to FP. Following the events of default on December 9, 2015, FP foreclosed on its loans to Mr. Shortall, who forfeited all of the 3,401,668 shares of the Company’s common stock pledged to FP in full satisfaction of the loans from FP.
If the market price of the common stock declines or if Mr. Shortall does not comply with his obligations under the loan documents with EFH, Mr. Shortall may default on the loans from EFH, in which event Mr. Shortall may forfeit the 1,900,000 shares which remain pledged in connection with the loans from EFH and any other collateral, among other things