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lol
" Our sales representatives and our advertising are now focusing only on the growth of our mobile app product, which we anticipate will see significant gains in fiscal 2013. We measure the growth in number of credit card payments each day from app users and in the number of daily calls made by mobile customers. In early January 2013 we averaged three credit card payments a day and in March 2013 we average 14 payments a day. We have had as many as 29 credit card charges in one day, and we believe that we can continue to grow our mobile app customer base and reach 50 payments a day soon after our iPhone app is released."
" We believe the launching of our mobile services for Apple products in the second quarter and our planned utilization in the fourth quarter of Web Real-Time Communication (“WebRTC”), which enables browser to browser applications for voice calling, video chat and file sharing, will generate expeditious growth in our subscriber base and revenues."
"We offer our mobile VoIP service to Android users and we plan to release our voice and video services application to iPhone and iPad users in the next 30 to 60 days. With these new products, we will be one of the few application providers that enables video telephone calls from an Apple device to an Android device, and also allows users to make a telephone call to any person on the public switched telephone network (the “PSTN”)."
G3 isn't going to convert at .02 and .006 IF Riss is going to screw them a couple weeks after they convert. Hang tight for the truth and not scare tactics.
4.5mm buy today. 3mm yesterday. 5mm last week. Someone is accumulating large blocks of shares.
Many of us will retire off PVSP
7mm shares with a cost average of .0065
Looking forward to the new technology developments in 2013...and major deals.
The 10K will give us a good status report of technology developments/timelines. Having the debt eliminated from Laurus was huge for next steps.
Only trust your own DD. Some of you should do your own and not rely on others. JMO
Madeindet - I agree. Looking forward to the 10k.
Now look for this to happen with Laurus out of the way--->
Excerpt from 3/4/13 PR:
" We are very pleased with the refinancing and eliminating of a substantial majority of our secured debt because we believe this series of transactions will allow us to start exploring options for long-term equity financing at enhanced valuations."
"The revised deal is a bit more complicated than what we usually do. NetCapital continues to work with us. "
RMD - yup, Paul mentioned they wanted to make sure no junior creditors would come after them when closing out the debt. Complex, but explains why NCC could still be involved. Thanks for sharing.
Paul mentioned in my email exchange they were still working with NetCapital. In what capacity, I don't know. You could be right about the Factor Fund. He mentioned this was a complicated funding arrangement. The good news is getting Laurus off the books. JMO
Looking forward to the 10-K
And for the conspiracy theorists - it's my hunch NetCapital couldn't make the payments based on the new payment schedule. So we get a deep pocketed investor who ponies up the money based on what he knows.
You don't sink major $$$ unless you know where this is going.
I wouldn't be surprised to see NEW long-term financing more favorable to PVSP based on what's coming next.
Paul states this debt elimination deal is very good for shareholders.
Paul was confident eliminating Laurus and the threat of lawsuits and having new $$$ committed to the success of PVSP was an exciting development for shareholders. While NetCapital is still involved in some capacity - he made it clear what Mark and his team are creating trumps NetCapital or whomever the equity partner is....
I guess we won't have to worry about Laurus putting together prepackaged BK proceedings or Paul begging anymore. .....lol. PVSP has the leverage now.
Major debt is off the books. This was critical for the next step. JMO
Mark Richards, the Company's chief information officer, added: "The world changed a few years ago with the introduction of smartphones and tablets. It will continue to change in 2013. Imagine a world where your phone, tablet, iPad, TV and computer all communicate on a common platform. Imagine video chat on any platform through your web browser. That's WebRTC. It's where our team and our technology are heading. The day where you can seamlessly connect video and voice without worrying about how the underlying technology works is closer than people can imagine. I want to connect to the person irrespective of whether they are at their desk, on their smartphone, or their tablet, and let the technology figure out where they are and how they are connected."
Mark is building something special. Hang on Longs. Lets get the show on the road!
NetCapital continues to work with PVSP. Since they assigned the debt to the Factor Fund - why are they still around? That was interesting. Paul is more concerned with getting Laurus off the books and preventing lawsuits. Maybe NetCapital felt they couldn't come up with the funds in the time period required? Bottom line, $5 million of debt is gone and so is the heavy debt nightmare from years past that could have sunk the company. Now they can concentrate on the cash cow business model and not Laurus shutting them down. Mark is the wildcard.... JMO
You don't understand what transpired. Reach out to Paul and ask him. I did.
Mark Richards is the man...
What's Mark up to? Mark and his team are building something special. That's the vibe I received in my exchange with Paul.
Bosox - there is more to the story. NetCapital is still working with PVSP according to Paul. I find that interesting. Let's see what Paul and his team have up their sleeves. GLTA.
This new financing is very good for the shareholders and is set up to take out the Laurus debt and to prevent a junior creditor from taking action against PVSP. $5 million of the Laurus debt is already paid off because of Factor Fund. Just to clarify.
Management feels this is a good situation for shareholders. I remain very positive on PVSP.
Shareholders - Laurus is gone. That's a big deal in itself. I had a nice email exchange with our CEO. Shareholder value is incorporated into this debt deal. As they say, there's probably more to the story.
Why wasn't this 8-K incorporated into the 10-K. Could be an interesting 10-K. JMO
Someone just grabbed 5 million shares.
"Interest and Principal. Principal and interest payments on Amended Note 2 can be made at any time by the Company"
Stay tuned - JMO
Selective copy and paste. Read the entire 8-K.
You were dead wrong on the settlement and the ability to pay it off quickly. Your credibility is beyond question.
This clears the path for major news. The weight of major debt is gone.
Very NICE
Daubs
We are on the same page. Paul says many opportunities exist in all directions. This is not a one dimensional company. If we get a large carrier using VoX as its own, we fly. We have retail on the app/calling card - video galore with WebRTC, and soon to have interoperable calling platforms.
We are unique and still under the radar... For now.
Large incumbent carriers will indeed be white labeling VOX. That's why I'm now over 7 million shares and holding until this plays out in its entirety. Too much whining from some longs that can't see the big picture. JMO
I've added two days in a row. We are undervalued big time. Major developments are coming and we no longer have the weight of debt.
Great post.
"We are very pleased with the refinancing and eliminating of a substantial majority of our secured debt because we believe this series of transactions will allow us to start exploring options for long-term equity financing at enhanced valuations."
"Our debt was holding us back"
Not anymore....
This clears the path for major deals and soon. JMO
I thought if was supposed to take 8 weeks to pay off the settlement? Payments to reduce $5MM this early is a huge sign. JMO.
Excellent news and sooner than expected. That's news in itself.
Mark makes it clear in the latest PR that VoX has big plans for video utilizing WebRTC. I'm glad Mark is driving the technology initiatives at PVSP. Shareholders are fortunate.