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Wednesday, 24 September 2008 15:58 |
Brad Ketch and Rim Semiconductor were locked out of their offices and defaulted on their loans, Ed Gubbins reports in Telephony. Portland Business Journal adds their cash fell to less than $2,000. They recently issued 3 Billion shares as their stock went below a penny. They've often claimed breakthroughs in data over copper, After twelve years, I have not seen any public demonstrations of their technology improvements.
Ketch remains hopeful, and introduced me to a modest sized firm that hopes to buy a substantial amount of Rim's products. He doesn't intend to give up. Investors have so far put nearly $100M into the company, and may have lost it all. Small cap stocks with minimal revenue are even more dangerous than some companies who have done miserably in the stock market bust. I started to write
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