Readen Holding Corporation (OTC Pink: RHCO) is a listed venture capital corporation with over 30 years of activity. The Company has a long history of engaging in the retail trade. More recently, it has been active in the Fintech, Online Payment and E-commerce industries, a vast potential growth sector es-North America. RHCO has subsidiaries and liaison offices in Europe, Asia and New Zealand.
Investors tend to eschew OTC pink stocks, but the adage everyone has to start somewhere is appropriate in Raeden’s case. And in many instances, the companies represent value in plain sight.
Should you want an accurate world comparison, many core people at Readen cut their teeth at Groupon.
An example of the approach from the latest PR:
OkePartners are the individuals, companies or charities who can share their invitation code with anyone to become OkeMembers. OkeMembers can enjoy great discounts offered by OkeMerchants. For all the spending of OkeMembers at OkeMerchants through OkeApp, the corresponding OkePartner would receive a commission of up to 5% of the discounted amount.
The Company also announced today that since the soft launch of OkeApp early this year, it had recruited more than 500 OkePartners.
As well as two recent personnel acquisitions; Siegfried Yu as the Chief Financial Officer of the Company and Ernest Kwan as the General Manager of OkeApp (www.okepartners.com).
The OKE App has 131k merchants total, 568 partners and over 1.8 million members: Virtually every type of good is available, from retail to clothing to travel to food.
Readon’s strength is acquiring distressed assets, selling off the weak parts, and growing the best assets. The free App is available in all the usual places.
The Company is aggressively pursuing an uplisting to the OTCQB. It hopes to conclude this tear.
Richard Klitsie, CEO of RHCO, stated, “RHCO has started the year of 2022 very well, and we are thrilled to announce the completion of its quarterly filing. We are riding on the momentum of OkeApp and Readies, and both are performing well beyond our expectations.”
RHCO reported an increase in Revenue of 634.42% compared to the quarter ending December 2021, which is also a year-over-year increase of 161.39%. After two previous quarters of a minor loss, the Company has recorded a nominal profit, and its Net Assets saw a rise of 1.99% compared to last year’s end.
Here is a link to what can only be described as historically impressive quarterly results. While the concept is simple, there is no predicting what businesses will be added to the mix. Given the provenance of the executives, the risk/reward scale seems to tilt to the latter.
Readen is an aggressive trader with a 52-week range of USD$0.02 to USD0.21. Not a bad run for a pinkie.
Lots more to this one. Lots.
Enterprise Value (MRQ)22.03M
Total Shares Outstanding (MRQ)324.277M
Number of Shareholders765
Price to Book (FY)1.0935
Price to Sales (FY)8.2338
Quick Ratio (MRQ)0.3518
Current Ratio (MRQ)0.3752
Debt to Equity Ratio (MRQ)0.4630
Net Debt (MRQ)7.078M
Total Debt (MRQ)7.115M
Total Assets (MRQ)28.27M
Basic EPS (FY)0.0057
EPS Diluted (FY)0.0057
Net Income (FY)1.853M
Gross Profit (MRQ)357.588K
Gross Profit (FY)1.335M
Last Year’s Revenue (FY)1.999M
Total Revenue (FY)1.999M