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I wonder if the seller could’ve been one of the family members. Has this been ruled out?
I did ask and receive a reply from Sam about this back in Feb 2017. I was curious why the acquisition did not result in any new asset coming onto the balance sheet.
He said:
I still can't wrap my head around the $5.9 million "investment in subsidiary" from two years ago. As far as I can tell, there's no one outside the company who understands what that was all about.
The website is working for me today.
Their website, alloysteel.net, appears to have some sort of adware/malware on it.
It still counts as dilution even if his shares are locked up for awhile.
Kiel was not so hot on the HVAC performance in the letter:
The PR seemed to indicate that it would keep trading as VTSID until next week, but apparently the D is already gone.
I really don't know. If I had to guess, I'd say no it won't get any sweeter.
They never sold any of their properties. It seems to me they're rescuing stockholders. They were running out of cash and it was starting to look kind of bleak.
Yeah it was sweetened to $1.51 or something like that. There was a filing with the SEC.
People are probably scared of the capital raise (if it happens).
Every quarter nothing happens other than the cash being increasingly depleted.
Not sure about the volume other than the 10-Q just came out. Was there something of note in there?
"The nature of this action is: fraudulent conveyance."
What does this mean?
The biggest risk with MR in my opinion is that it ends up being a big waster of time & attention (for VirTra).
I think VirTra has protected themselves pretty well from any devastating obvious financial losses. It's more like owning an option.
Unfortunately, the concept doesn't seem to be sticking as well as hoped. At least from what I can tell, which admittedly I haven't followed it that close.
Who has control of the domain currently? And what is the argument that it should rightfully be in shareholders' hands?
Congrats to Knowledge Is King!
What's the best e-mail to use to ask them about this accounting issue? We should all hit them up over this.
Despite that, I bought some more shares for the first time in a long time today. The solid quarter + the rally in the price of iron ore bode well for AYSI.
Yeah the claim is a separate issue, but we can learn about the size of the settlement (regardless of the legitimacy of his claim) from the statement I referenced.
But I haven't really heard a cogent argument on this board why his claim isn't legitimate. Did he not lend the money he said he did? Is anyone here claiming that? Did he calculate the interest & penalties wrong? It seems like those who might know, aren't saying.
It wouldn't make sense for a 4th payment to be on the order $5-$10 million, because we read in a previous filing that the total settlement would fall significantly short of the minimum $8 million (?) that Galanis's other company claims to be owed.
Why wouldn't IP Global's claims over the settlement money be legitimate, as described in the Murphy Pearson letter posted to the court today?
http://iapps.courts.state.ny.us/iscroll/SQLData.jsp?IndexNo=650321-2012
Rough quarter. I got them losing $0.08.
Really thin gross margin -- maybe due to rebates hitting, who knows.
Thanks for response EOM
Just got off the phone with Fidelity. They won't even allow anyone to purchase FNDM anymore.
The rep told me Fidelity has a "caveat emptor" label on it, that they consider it a shell, or an empty shell, or something like that. And that it is worthless / a "losing trade".
That said, does anyone know any brokers who will allow purchase of FNDM still?
Thanks for running the contest, SSK -- it's a lot of fun!
I think that this last week was the only week that I ended in First place :/
Congrats to JDC in Second and Researcher59 in 3rd. Very close!
1 NATSTOCKS 37.83%
2 JDC 36.74%
3 RESEARCHER59 35.17%
Most of my strength came from one stock, VTSI, which I think roughly doubled over the contest.
Looking forward to the next contest in January.
KiK, how do you know this is the entity that receives the royalties? From the PR, it sounds like it is a supplier of physical materials.
"the vehicle through which the Kostecki family trust currently supplies various materials and production inputs to ASAI"
The night is long and full of terrors -- WILDBILLY will have his downfall
Does anyone know what the stock price requirement is that they're trying to meet?
"The trading symbol will revert to “VTSI” on November 18, 2016."
VirTra Announces Reverse Stock Split Effective Date
The uplist I guess will take longer: April? Unkown?
Waiting for that sell-off, champ!
Good I hope the stock tanks when they reverse split, I still want more and couldn't be less scared about R/S.
SSK - Sorry if you already answered this but what source do you use to determine avg. daily volume? Different websites list different volumes.
Thanks.
"the post-split authorized capital is only 25% of what it was while in Texas"
Not really accurate because each share will represent 10X as much of the company.
The dry powder has become really large *in relation to* outstanding shares now.
I am very, very bullish on VTSI but this is the only recent update I don't like.
Wow awesome review, Jim. Thanks. What day of the week were you there?
You can put me in the no need to promote camp, if we're taking a tally here :)
It's working for me.
Twister, your posts really come across as a guy trying to talk the price down.
Earnings can be found here: http://www.otcmarkets.com/stock/AYSI/filings
$3.8mm sales
Loss of ($0.008) per share
SSK - I can't find the rules. Do we have the option to do 2 trades in a month?
The company has garnered a ton of press. Both CNN and MSNBC have featured it in prime time programming (CNN multiple times). There have been endless local news stories covering Virtra's simulators.
It probably gets more press than your average NASDAQ listing let alone that it's a lowly Pink.
All things considered, I don't think lack of press is a real concern. I don't really think there are any major concerns other than maybe the simulators are pricey and sometimes tricky for departments that want them to find a way to buy them.
If they're successful in selling off that Indonesia property, that's an ADDITIONAL $0.25 or so per share.
I like a special dividend in a case like this. Or a significant tender.
The company seems to have no need for all this cash. And the market seems to give the cash and/or the business (or both) a VAST, VAST discount.
Such a crazy situation.