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VLDI just broke support of the 200 day SMA of .0209. If it closes below that level next support is at .015 on the daily charts. What is interesting is that on the weekly charts the 50 period SMA is about to cross the 200 period SMA to the positive side. The 50 has not been above the 200 on the weekly charts since December of 2014. This could have a long term positive effect if it crosses but the daily chart at present does not support that cross at .021. Interesting that daily support and a weekly positive cross are so close together.
The product should close the deal by itself if it works as expected. Trial is always difficult but after trail sales should be easy.
I find it amazing that investors do not call out Bruce on all the sales announcements that never materialized and simply focus on the most recent announcement as if no one has ever tried the product in the past. At some point investors will realize either the product has too big of a hurdle to overcome since it is so radically different to break into the market or one one wants to chance a product which is basically a one man operation without any in house ongoing technical support after a sale is made. Another option is simply no one is interested in the VP product after testing.
Yes, I know Bruce wants to sell the company and does really want a ongoing business to run, but without real sales and time tested in the marketplace proof of the product capabilities that is extremely difficult to accomplish as proven throughout the years of failures to make sales.
Well I guess my prediction of this year being the year of either a rinse and repeat, r/s, and/or increase in authorized share count missed the mark, but it is simply another year of failure to delivery a single real client with millions of endpoint and a commercialized product that could produce ongoing revenue for VLDI.
Happy Turkey Day. VLDI is the turkey!
I ask the question more about where the sales and marketing dollars went. Over the course of the history of this company they have spent over $36M on sales and marketing and about $17 Million on R&D. So I always ask the question where are the sales and marketing dollors going especially since they have only made about 5 license agreements and all have gone nowhere.
BTW the promissory convertible note holders that were converting to common at 45-55% discount of the average of the five lowest day trading prices prior conversion, and now the 10% Senior Convertible debt being issued twice the amount raise and preferred C stock being issued at 3 times the amount raised are no brainers where the money is coming from. It is usually hard to lose money at those rates of conversions and grants to common stock.
Not really, especially when you look where most the money went in 2018. Sales & Marketing and G&A 269K, R&D 65K, interest expense and accounting auditors about 300K.
I would expect the boilerplate is copy and paste, but i would expect some thought should go into the operating budget, but then again its Bruce's smoke and mirrors!
He will never spend that much. Also if you go back for the last 3 years every year the operating budget is exactly the same. Last year they only spent about .6M
The Company expects to incur operating expenses of approximately $1,472,000 for the year ending December 31, 2019.
The Company expects to incur operating expenses of approximately $1,472,000 for the year ending December 31, 2018,
The Company expects to incur operating expenses of approximately $1,472,000 for the year ending December 31, 2017
The Company expects to incur operating expenses of approximately $1,360,000 for the year ending December 31, 2016
Do you mean the one that is posted every quarter and the one that has not allowed them to record revenue from three license agreements made in prior years:
Revenue: On January 1, 2006 we entered into an agreement with a Value-Added Reseller (“VAR”), pursuant to which we granted the VAR a license to sell our software to the VAR’s customers for a period of three years. As a result of subsequent delays in completing certain of our software products to a market ready stage, and in consideration of the general market decline during 2009, we have agreed to extend the expiry of this agreement, with terms to be negotiated upon completion of our current development initiatives. Our fee for this license, excluding applicable sales taxes, was $155,000, of which $151,650 has been collected. We will recognize revenue in connection with this sale once all of the criteria required for us to do so as set out in our accounting policies, have been met.
During the year ended December 31, 2010, we entered into an agreement with a VAR, pursuant to which we granted the VAR a license to sell our software to the VAR’s customers for a period of one year. A nonrefundable deposit of $165,000 was received in connection with this contract; revenue will be recognized under this contract as the conditions for recognizing revenue as set out in our accounting policies have been met.
During the year ended December 31, 2016, we entered into a Software License Agreement with a customer pursuant to which we granted a license to integrate and deploy our software in their application. An initial license fee of $400,000 was paid on signing for the license and integration, which integration was completed during 2016. A royalty per end point and/or end user is payable quarterly in arrears upon deployment of the application. We also entered into a Software License Agreement with another customer pursuant to which we granted a license to integrate and deploy our software in their application. An initial license fee of $75,000 was paid on signing for the license and another payment of $75,000 is due upon the integration, which is scheduled for completion during 2019, plus a royalty per end point and/or end user is payable quarterly in arrears upon deployment of the application.
I saw that too as well as they are working on next version of software.
If you go back quarters ago and even years ago you will find similar statements about testing in R&D expense. I just picked two dates at random:
March 2017:
developing the migration to the Apple iOS operating system including SDK's for Objective-C and Swift and testing; and supporting installation of Validian's core technology into a customer's environment for testing and evaluation.
several different roaming configurations to Validian's core technology; and supporting the testing of Validian's core technology by certain channel partners as well as the technical review of the source code of Validian's core technology
The only other note worthy item from the financials is that from the money raised they repaid about $60,000 of cash promissory notes.
Like I have said borrowing from Peter to pay Paul.
Nothing ever changes and the revenue can is kick to Q4.
Did not have time to go through the financials in detail, but what is obvious is they stopped issuing cash promissory notes as of the date of the last financials and they have gone back to issuing convertible preferred C stock and also 10% Senior convertible notes. Things must be getting really bad, since they had to issue $150,000 of convertible preferred C stock to raise $75,000 in September. Then in subsequent events on October 21, they raised an additional $15,000 but they had to issued $15,000 worth of 10% senior convertible notes plus $30,000 worth of convertible preferred C stock.
So they went from issuing twice the amount to three times the amount in notes and/or preferred stock for the cash raised in about a months time.
The total common stock issued and outstanding still remains the same at 688,287,060 while the fully dilute is getting very close to a billion at about $996 M.
Maybe Bruce can get Ganthet Mobile to write a review as well. They too were testing for 2.5 years.
Nice find! This review was posted June 2019 and by no means a paying customers, just testing for 2.5 years. BTW anyone can post on this site, very little credibility to the post. No indication they ever made a sale to this poster or if they truly exist.
https://www.capterra.com/p/32392/Validian-Protect/#reviews
It is worth noting the rest of the site, especially the listed product comparisons and pricing to VLDI.
Once again it seems like just more smoke and mirrors.
Where are the 10s of millions of endpoints that are to be producing revenue for VLDI. Just another example of stealth mode!
Let see of Q3 comes out in time tomorrow.
Yes there are a vast number of questions Bruce has refused to answer and he just keeps putting out his spin stories which some still believe. I will stick to the facts!
The only answer worth anything is why can't they make a single real sale. in over 20 years of VLDI history.
Until that changes everything else as always is just fluff!
Just keep asking oneself why no one that tested the product in beta or field, no one from the three year old sales pipeline of 20+, no one from two years ago of negotiations with majors and minors, and no one after Rafael's recommendation of two year's ago has step up to the plate as a real client, with a commercialized product, producing ongoing revenue for VLDI.
Oh, I forgot the new website with its sanitized history as sales tool with a email that now works, but still no phone number, and the new testing application is going to change all that along with one small research firm naming the VP product as one of the top 10 RASP apps.
Except they are dead ducks
Over 5 years ago I was posting that no one knows about VLDI and that Bruce needs to get a white paper out on the VP product, articles in trade journals, participation in trade shows (RSI cyber security conference) and get out a market research report from either the Gartner Group or Forrester a couple top names in the industry. What I find very disappointing is if Market Expert 24 ( whoever they are) thinks VLDI is one of the top 10 RASP in the industry why VLDI does not play that up big time on their website. Not even a mention of RASP under VP features. In fact there is not even one mention of them being one of the top 10 designated RASP by Market Expert 24 or itintelligence.com. The only mention is in the PR about a new testing platform.
It makes one wonder why not, especially since it appears to be a hot topic in cyber security world.
Also I when directly to their site and report ID: 35024 does not appear. They have many other reports listed for RASP with different ID numbers:
https://www.itintelligencemarkets.com/search?search=rasp
So it looks like the report was produces by itintelligencemarkets.com and their address listed is
US 76 AT US 19 HWY
129 Murphy Highway,
Blairsville, GA, USA
Funny thing is when I do a google maps search on that address I get the Burger King
The dots are getting more interesting 1cloud is no longer selling the report>
Some of the Venture of TechMozer International FZE AE companies:
1 Cloud consulting UAE a software consulting company, Mover Zone UAE a moving a packing company, Painter Zone UAE a painting company, Mechanics zone UAE Car service and repair.
Interesting!
Interesting that these 10 RASP companies keep popping up. At least these guys 1 Cloud are not selling a research report, but offering consulting service for all ten RASP companies.
Also interesting this is a Dubai company:
Venture of TechMozer International FZE
G069 Techno Hub 2 , Dubai Silicon Oasis, Dubai, UAE
I love it more dots.
Just trying to connect the dots to see where they lead. Too bad not enough dots yet.
I tried to connect the two firms but could not find a connection. I wonder if one firm knows the other is selling their report. I expect that Market Expert 24 may be the originator of the report since it came on September 26 vs. the other which came out on October 10.
I just find this very strange.
Thanks for the link. I find it very interesting same research report, the same article, written by two different people and two different research firms and on this link they are charging 3900 for a 90 page report vs 3300 for a 123 page report. BTW Word Press is at least behind Market Expert 24 which is also behind VLDI website.
So who is the real researcher and how can two different firms provide the same research report? This is getting suspicious.
They had a pipeline of 20+ qualified potential sales over 3 years ago.
They were in negotiations with major and minors over 2 years ago after testing.
The only real substance in any PR would be announcing a real agreement, with a real client, with a commercialized product, that would produce ongoing revenue for VLDI. Everything else is just fluff and that has been the case for the last 6-8 years.
No substance as far as sales! They are working backwards from 2 years ago when negotiations were to lead to sales in the next 45-90 days. Just fluff to string investors along as VLDI continues testing over 8 years with potential clients all leading to them running for the hills. Why would anyone expect this time to be different?
I do not call repeating testing over and and over again as progress or substance, since you can just call wolf so many times before most catch on. Bruce can fool some of the people some of the time but not all the people all the time!
In time we already know based on history how this all plays out!
BTW is was able to get the Gartner report by registering on their website for free. It gives a detail analysis of each companies major strengths.
Wrong I wanted substance and not fluff as far as making a sales, but once again smoke and mirrors with more testing after they were in negotiations only two years ago expecting to sign agreements in 45 to 90 days(lol). Who likes working backwards!
What is strange about the companies listed, they failed to include some of the bigger and more successful players such as Signal Sciences which was named by the Gartner report as a Visionary in the 2019 Gartner Magic Quadrant for Web Application Firewalls for its RASP. BTW is was Garnter that coin the phrase RASP.
https://www.signalsciences.com/lp/runtime-application-self-protection-rasp/?utm_campaign=rasp&utm_term=%2Brasp&utm_medium=ppc&hsa_kw=%2Brasp&hsa_mt=p&hsa_grp=1264438677559604&hsa_tgt=kwd-79027713032555:loc-190&utm_source=bing&hsa_net=bing&hsa_acc=%20149166540&hsa_cam=1547110541&hsa_ver=3&hsa_src=o&hsa_ad={creative}&msclkid=5d6dacafe6181d3acdb7f11660a2315c&utm_content=rasp
BTW Micro Focus is mentioned in the Gartner reports as well as Contrast Security, White Hat Security and others mentioned in the Gartner report but not in the Market Expert 24 report are IBM, Rapid7, Acunetix, Cast, Qualys, Checkmarx, Veracode and Synopsys. No mention of VLDI or the others mentioned in the Market Expert 24 report, which is too bad since the Gartner group carries a lot of weight in the industry. fwiw
Most of these companies are small start ups or private companies other than VLDI and with the exception of Micro Focus, that is if this is the same as Micro Focus PLC (MFGP). This company trades @ about $13.00, it has over 3.2 Billion in revenue and a capitalization of 4.6 Billion, fwiw.
Thanks!
Too bad the report costs $3300, it would be interesting what they have to say about VLDI.
RASP: A False Sense of Security For Apps & Data
https://www.darkreading.com/application-security/rasp-a-false-sense-of-security-for-apps-and-data/a/d-id/1321784
Worth a good read for those that do not know about RASP.
https://www.infosecurity-magazine.com/opinions/the-growth-of-rasp/
I was looking for that report and I could not find a single independent report mentioning VLDI. I did find the Gartner Group's report on RASP mentioning other companies, but not VLDI.
In fact I was surprise why Bruce did not mention who put out this independent report that mentioned VLDI or provide a link to that report. It would have given the statement some credibility.
So if you have a link please post it! TIA
No substance, since the PR is just like all the rest with promises of potential sales that never happen. History proves this is just a repeat like the OEM that was going to do a global rollout years ago after testing which never happened
It is not just an opinion, but one based in facts and history.
Like I said a PR with no substance and only the fluff. Nothing that is certain, nothing signed, only the promise that never happens.
they have been testing for 6-8 years without a single on going revenue producing client. Why would this time be any different. Just an excuse for two years of doing nothing, LOL.
Remember I posted this on October 17th:
I expect the pump with or without any substance will happen soon. Any info put out without substance to support this move makes it less likely to continued and the smoke and mirrors will once again consume VLDI's stock price as in the past.
Soooooo true and like I said Bruce's smoke and mirrors continues, since you do not go from qualified leads, to testing, to negotiations, only to go back to testing after three years.
If one believes that I got some swamp land in Florida for sale.
By now over the course of about 6 years that I have followed VLDI they have been in testing/sales negotiations with at least 35-40 potential clients. In that same period of time they signed two license agreements one with the Ganthat sham. which is now three years old and another with an ISV that never integrated the product in over 3 years. A total of five license agreement over the course of 10-12 years that have gone nowhere.
I again ask why did they all run for the hills and why would anyone expect this time is different . The spin meister just keeps kicking the revenue can down the road.