Preparing to close its anticipated acquisition, Rimrock Gold Corp. (OTC: RMRK) is becoming a favorite for many OTC investors. Since the acquisition will allow the company to operate in a multi-billion industry, many investors are confident RMRK stock could provide value in the long-term. As for the short-term, the closing of this acquisition could be around the corner as both companies held a meeting recently. In light of this, RMRK stock could be one to hold in anticipation of more news regarding the acquisition.
RMRK Stock News
Through its subsidiary Acqua Cannabis, RMRK has been offering cannabis based coffee and other products like CBD oils and hemp extracts to capitalize on the rapidly growing cannabis market. Although the cannabis market is expected to grow at a fast pace, RMRK was unable to take advantage of this market.
Back in April, RMRK shared PR about its operations and growth plans with its shareholders. In this PR, RMRK shared that it was struggling to grow its business organically mainly due to the increasing competition in the cannabis and wellness markets as well as its lack of funds to continue its operations. As a result, RMRK is currently exploring growth opportunities to expand its business in order to increase its shareholders’ value.
In addition, RMRK shared that it is in the process of conducting due diligence for a number of acquisitions in different sectors. By utilizing this strategy, the company believes it has more opportunities to enter growing markets where it can secure a significant share and grow financially. With this in mind, RMRK gained investors’ attention lately after sharing that it was in the final stages of conducting its due diligence on an acquisition and would be updating shareholders very soon.
In the meantime, investors are anticipating PR from the company regarding its expected acquisitions as RMRK shared that it is waiting for final approval to complete an acquisition. It has also promised to update shareholders about this matter in the near future. Based on this, some investors are bullish an announcement could be made as early as next week. Given that RMRK stock has been running in anticipation of the acquisition, releasing PR could send RMRK to new highs especially if the acquisition is in a lucrative industry.
Meanwhile, many investors are bullish the upcoming acquisition could be profitable for the company due to their confidence in the CEO Jordan Starkman. With an extensive background in finance and business development, investors believe Starkman will find the best acquisition possible for RMRK’s future growth. Through his 20 years of experience, Starkman has been the president of public companies Pacific Green Technologies (OTC: PGTK) and Health Advance Inc. (OTC: HADV). As well, Starkman worked for 10 years as a consultant for several public companies and was responsible for starting new businesses for these companies. Based on this experience, investors are bullish RMRK stock could become profitable with the current management in place.
*Updated September 2nd
Venturing into a new industry, RMRK signed an LOI to acquire BluNutric Group Ltd to enter into the growing algae farming and nutraceutical industry. Upon closing this deal, RMRK will issue preferred shares to BluNutric’s shareholders and intends to form a board of advisors comprising industry, finance, and business experts. In addition, RMRK plans to execute a name change following the completion of the acquisition. Based on these plans, RMRK stock could be poised for a significant run upon closing this deal.
BluNutric has a main business focus on extracting proteins and omega 3 oils from nannochloropsis algae which could be a profitable business thanks to the high demand for such oils. To achieve this business focus, BluNutric is utilizing its foundation of scientists who are experts in algal biology and biotechnology. As BluNutric’s scientific team is considered to be the second in the world in agriculture, RMRK stock could be poised for significant growth in the future.
On that note, investors are extremely bullish on this acquisition’s potential thanks to BluNutric’s relationship with the University of Queensland. Through this acquisition, BluNutric is able to cultivate the algae at highly profitable aqua farming production sites near Brisbane, Australia. Considering that Australia is known for its optimal solar footprint for algae growth, BluNutric could be well-positioned for substantial growth in this emerging market.
With this in mind, algae is emerging as a promising sustainable source of biomass and oils that are pivotal for several industries and BluNutric is already targeting 2 markets that it intends to sell its products to. The first market is the $2.3 billion global omega market which is suffering from the failure of commercial fishing in meeting the demand for omega fish oils. At the same time, BluNutric could have a competitive advantage in this market since algae have lower production costs which would allow the company to offer its products at highly competitive prices. For this reason, BluNutric could secure a significant share of this market which could reflect on RMRK stock price.
BluNutric is also targeting the global biofertilizer market which is worth $2.6 billion. This could be achieved as algae can be used as a biofertilizer to boost crop growth since they are rich in nutrients that are beneficial for the soil and plants. In this way, using algae as a biofertilizer could enhance the growth and yield of plants. Moreover, algae are rich in minerals that could enhance root growth and the plants’ drought resistance. In light of this, BluNutric could revolutionize the biofertilizer market since algae could be more effective from other biofertilizers. For this reason, RMRK stock could be worth holding onto for the long-term thanks to BluNutric’s growth potential in these highly demanded markets.
With the company preparing to close this acquisition, RMRK has reiterated that it has no plans to increase its AS to finalize the acquisition and that no dilution happened to the company’s shares. Meanwhile, the acquisition appears to be on the horizon as RMRK recently held a meeting with BluNutric’s management team. With the company promising further updates when legally allowed, RMRK stock could be one to watch in anticipation.
RMRK Stock Financials
According to its latest quarterly report, RMRK has $3.9 thousand in assets and $371.4 thousand in liabilities. Meanwhile, the company has not reported any revenues and has $4.2 thousand in operating expenses. As a result, RMRK reported a net loss of $4.2 thousand. Despite these poor financials, the report highlighted that the company has no outstanding debt and no convertible notes which could be a good sign for RMRK’s shareholders.
The company has clarified that it has no plans for dilution or a reverse splits. In the interest of transparency, RMRK also shared that its number of outstanding shares has not changed.
Media Sentiment
@Modrnerapharaoh is holding RMRK stock thanks to BluNutric’s substantial potential.
@SuperRobotOTC with the DD on RMRK stock.
Technical Analysis
RMRK stock is currently trading at its resistance at $.0014 and shows other resistances near .0021 and .0025. Meanwhile, the stock has a strong support at .0008. RMRK retested its resistance multiple times this week and failed to break through it. Based on this, RMRK could drop near its support which has shown to be a strong support level previously – which could be an ideal entry point for bullish investors. Considering the potential of the BluNutric acquisition, accumulating RMRK stock at its relatively low PPS could be a profitable investment in anticipation of the closing of the acquisition.
Accumulation is trending upwards thanks to the bullish sentiment surrounding RMRK’s acquisition of BluNutric. Meanwhile, the MACD is bearish, but appears to be approaching a crossover in the near future. The RSI is holding at 48 which could indicate a strong movement in either direction. In light of this, bullish investors could take a starter position at the current RMRK stock price as the stock for a break through $.0014. In that case, RMRK could easily reach near $.0021, however, the stock would require high volume to facilitate such a run considering its OS of 2.7 billion and float of 2.4 billion.
RMRK Stock Forecast
As the company is preparing to close its acquisition of BluNutric, RMRK appears to be well-positioned for significant growth in the future considering the profitability of its targeted markets. With this in mind, RMRK could achieve this growth by utilizing the experience of BluNutric’s scientific team and its relationships with the University of Queensland. Through these relationships, BluNutric is set to cultivate algae at a highly profitable site which could aid the company in achieving financial growth. Considering the company’s plans to establish an experienced board of advisors and change its name upon closing the acquisition, RMRK stock forecast appears to be bright for the long-term.
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