Viscount Systems (VSYS)

[nynewbie]

I first thought of this when I read the 10K and saw that the beneficial shares owned make no sense unless the Class A shareholders had requested redemption based on the late filings. I guess I could be wrong but the only alternative is the board has made other changes that are self-serving and against the interest of common shareholders any ways.

The filing from 2012 below at 11.a reads that if the company files late the Class A shares are bumped by 150% plus other + interest and penalties especially if the company doesn't have the cash to redeem if a request is made. So, the board ( class A shareholders) simply filed late to get free shares?

Since the company has turned into a basket case under these clowns with the stock less than a penny the damage adds up in a hurry. It's a mess any way I look at it.


http://www.sec.gov/Archives/edgar/data/1158387/000106299312002055/exhibit4-1.htm