Visual Management Sciences Inc. (fka VMAN)

[siar]

Yes, that's my real email-address.

[SKSO]

Thank you very much Siar. I will keep you update. The email you used in your real email, right?

[siar]

I have just sent the pdf.
If I remember correctly (it's more than 3 years in the past), I received that through my broker. But I also had a little email conversation with Steve Sukman.

[SKSO]

Hi Siar,

Please email the pdf to [e-mail]
Surprisingly, I was never communicated any material by the company for me to say I want to rather sell my stock than becoming part of merger. Do you know how the company communicated (email, mail, message from broker etc.)

Warm Regards
-------------------

[siar]

Shareholders like me/us had no chance to vote against the merger. From the pdf:

Although the Merger Agreement has already been effectively approved by written consent by stockholders holding a majority of the common stock outstanding and entitled to vote, the Company requests that you provide your consent as well.

If you post an (temporary) email-address, I will send the pdf to you.

[SKSO]

Thank you very much for the quick response Siar.
I did not get any mail or email to accept or decline the merger or anything saying that I have now share in Datascoops.
I think the only option left is to wait. Is there anyway you can send the pdf you mentioned in your message?

[siar]

I think you are by far too late to get the payment. Unfortunately I don't know how to find the old filings (supected they could still be available at otcmarkets.com or edgar, but I couldn't find any), but I still have the pdf-file from 2nd December of 2016. There one can read:

If you do not send the attached demand for payment within 30 days of the mailing of this notice to the above address, you shall be deemed to have waived your right to demand payment with respect to your shares.

If you are a native speaker (I am not) It could be useful to call them...

[SKSO]

Sorry for not being active.
The AVS site has some updates made to some documents in 2019. Other than that I do not see any activity. Datascoops site does not have any update or anything of interest. I do see many employees listed under AVS company in linkedin. It seems company is active.
It could have been better for us to know how company is doing now to decide if we wait or just go for 3 year old stock price.
My AVSC/VMAN stocks were bought through etrade. I will see if they can help in selling. I can pay $500 if that is the fees.
Please provide me link to security filings at the time of VMAN becoming private. I want to see if there is any time limit to get the last price of VMAN stock for my shares, from Datascoops.

[siar]

"1. Is the company still alive?"
I think so, but I have no certainty.
www.avs.com
www.datascoops.com

"2. Do they have any income?"
I suspect yes, but the CEO wrote to me: "As a private company, AVS is no longer required to publish financial statements, however plans to keep in touch with its shareholders on a periodic basis via its website and other forms of public communication."
I have absolutely no up-to-date information.

"3. Since most of us were not informed of the merger so did not agree to merger, are we entitled to the last stock price of 0.13 per VMAN stock?"
Unfortunately I don't remember anymore about the details. You surely can find out from the filings. I think I did not have the option to vote, but I had the option to sell my shares to the company. But my brokers price for this was too high to decide to do that.

You could send an email to Mr. Sukman and ask your questions. If you get an answer, please let me know.

I am afraid, the only way we could see any money for our shares is that in the far future someone buys out the company.

It's not fair by the management to give no information to us. They are working with our money and we get nothing. No information and no dividends.

[SKSO]

Thanks for your quick reply.
I tried to find the following googling but was not successful.

1. Is the company still alive?
2. Do they have any income?
3. Since most of us were not informed of the merger so did not agree to merger, are we entitled to the last stock price of 0.13 per VMAN stock?

I appreciate that you replied.

Regards
S

[siar]

In my opinion there's no realistic way to sell.
In open market it's not possible, and selling to someone directly would mean you have to find someone who wants this.

I consider my shares worthless.

The CEO primised to keep in touch with us. But he does not. Therefore I have no information.

[SKSO]

Hello Siar,

How can I close my position/share in this AVSC->VMAN->Datasoops company?
What are all the options you guys used?

Regards
S

[SKSO]

Hello Highlander and others.

How can I close my position/share in this AVSC->VMAN->Datasoops company?
What are all the options you guys used?

Regards
S

[HighlandGambler]

Thanks for your reply. I have also messaged Datascoops several times and received no replies yet. You are probably right about "worthless".

[siar]

Mine got a modified ticker symbol and are still listed in my trading account. But they are not tradeable and therefore virtually worthless.
I am disappointed, that we get no information from the company. More than one year ago I sent an e-mail to Mr. Sukman. He wrote, that the company will not anymore publish financial statements, but he promised to keep in touch with us shareholders. I did never get or find any information. Not even the shareholder structure seems to be available. Nothing.

[HighlandGambler]

Anyone ever receive any acknowledgement from Datascoops of your converted shares? I haven't.

[siar]

Did anyone of you achieve any progress?
I don't like that the only chance to get back my money is, if the company is sold.
Somehow I can't loose my thought, that the huge fee for getting the money (instead of a buy back through open market), was to make it senseless to request the payment.

Does someone know if and where the company has to publish reports in the future? Can we at least hope for dividends?

[Traderfan]

Not that I remember anything. I didn't even know about all of this until I discovered it by accident a few days ago.

[funnyG986]

did you guys get any form from IB before this merger ?

[Traderfan]

Yes, I'm with IB as well.

[teomax]

just discovered in my IB account merged shares, under the title:
DTSC.CNT, Stock, CORPACT
crazy thing. they should just give us 1 cent or whatever was the price at that time and i wouldnt complain...

[jpike]

Agree. Holding until more news from Steve. Going to use market weakness to accumulate additional SFOR.

[Traderfan]

What are you doing with those shares now?? They are worthless to us, at least for now.

[jpike]

Not me. Accepted new merged shares.

[siar]

Not sure if that has any effect if you already talked to him. We need to get the SEC involved somehow I figure. Can't be legal to give somebody shares in a private company which one can't sell instead of owning shares in a public company with a market.

Yes, I understand and agree.
Unfortunately I have no knowledge about SEC rules and I am not located in the US and I am even no native speaker of English. I don't like the situation we are in, now, but I don't see any way to take action.

[Traderfan]

Will you contact the CEO?

Not sure if that has any effect if you already talked to him. We need to get the SEC involved somehow I figure. Can't be legal to give somebody shares in a private company which one can't sell instead of owning shares in a public company with a market.

[funnyG986]

cash payment is like a dissenters right. I heard from TA that some form was mailed on Dec 2nd. But I never received any

[siar]

"You can't sell these shares since they aren't a publically listed company."
Thanks for the information, but

Will you contact the CEO?

[Traderfan]

That's friggin ridiculous, never heard something like this before in the last 20 years I'm doing this. Giving shares of a private company instead of the publically traded one and then not provide a cash out situation without a huge fee? Got to get the SEC involved here if this CEO is such a moron.

You can't sell these shares since they aren't a publically listed company.

[siar]

I wanted to get cash payment for my shares, but the agent asked a fee of USD500 for this transaction. I think, such an amount is not fair and not realistic. I did ask the CEO about that, if the company pays for that and why he didn't offer to buy back the shares through open market. He wrote to me that it's standard practice they do not pay anything in connection with the merger. That's why I do own some Datascoops shares, now.

Do you know, how these shares can be sold? At my broker I was able to submit a sell order, but there's no bid and ask.

[Traderfan]

So has anybody gotten cash for his VMAN shares instead of the stock divi? I was wondering since I now own some of these Datascoop shares, I didn't even realize that the merger happened.

[jpike]

So Steve is just rolling VMAN into his privately owned company? I guess we will need a few days to collect all the info. Same officer in both.

[funnyG986]

how did you get hold of him ? any # we can call ?

[HallaDurg]

Nothing yet. Just VMAN# in my account shows 0 shares. Maybe after Thanksgiving.

[funnyG986]

do you have TA contact for VMAN?

[funnyG986]

I thought we should get some tender offer form from brokers, but I haven't got any

[HallaDurg]

How do you decide? Do you automatically get the new shares if you do not make a choice ?

[funnyG986]

What's the fair market value

[Renee]

VMAN: Stock merger; VMAN acquired by Datascoops, Inc., a private corporation; for every 5 shares of VMAN, shareholders have the right to receive 1 share of Datascoops, Inc.; shareholders who do not consent to the merger are entitled to dissent from the merger and have the right to obtain a cash payment of an amount that is fair market value of their shares of VMAN common stock.

FINRA deleted symbol effective 8:52 A.M. today.

http://otce.finra.org/DLDeletions

[FergusVI]

Steve wouldn't speak with me when I called...

[jpike]

Customers listed of VMAN include IBM, Shell, Oracle, etc.

[jpike]

Appears something brewing. News coming?

[funnyG986]

yes

[Grolden]

This was AVSC before right?