Whew! For a second there, I did not think that my remaining shares of Refocus Group (RFCS) were going to be cashed out. As you might recall, in December I wrote about how the shares of Refocus Group that I purchase on December 5th were not cashed out when everyone else was reporting that they were receiving cash for their shares. I contacted Firstrade and their client services person indicated that they were going to track down my shares and address the issue.
Yesterday, all 1,999 shares of Refocus Group in my Special Situations Real Money Portfolio were cashed out for $0.35 per share. I received $699.65 for the shares that cost $566.67. That earned my son’s Coverdell ESA $132.98 or a 23 percent gain. Since I only held these shares for 39 days, this trade earned a 220 percent average annualized rate of return. I was pretty happy with this little trade.
Now that I have a bit of cash pooled up in this account, I’ll start looking for a new opportunity. I’ll be closely reviewing my going private transactions list this weekend to identify the best opportunity to invest this cash. You can gain access to my list of current opportunities by contributing to Fat Pitch Financials.