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Yea, its stil very interesting they went to all the trouble to file all those SEC filings, hire new accountants, new legal counsel etc and then let there business license expire.
My guess, is it will remain a shell until the business, either O&G or some new business is formed with a public offering.
On the positive front, the volume indicates that none of the big shareholders have unloaded anything (or anything of sgnificance)
Is the Hungry Hippo still around?
Bullion
I don't know what to say. These chinese guys throw money around so I guess VPRS will probably be an O&G play and not a RM into a pharma.
Sucks cause I got a lot invested here, but I guess I will stand pat for now and hope your predictions come out false. :)
GLTA
I still think they will reverse merge or they will reincorporate as another entity or they will do a public offering to raise captial for oil/gase exploration or do some combination of above.
Based on the 10k, all of those things are possible. This is my opinion only and you all will have your own ideas.
Me thinks most of the selling is related to tax loss. and those raising money for other reasons. Still, the stock seems over priced a .019 a share with no visible operations or assets. Take a snooze and hopefully some information will come forth before WWIII.
GLTA
Today's volume and price slide is disappointing, but it could easily be related to tax selling
I'm not concerned about sub-penny if it gets there, its obvious they will eventually monetize this shell...sooner or later IMHO
GOVPRS
Nice...
You know the other thing is there are large shareholders out there and we are not seeing the volume associated with a mass exodus
I don't know what to think, but I'm sticking long term cause I don't need any more losses to write off this year!
GLTA
Well...I'm hanging on cause I don't believe it will end the way you all think. It makes no sense for the chinese dudes to let this go to zero.
Something will happen someday. Maybe not tomorrow or next week or next month, but something will happen.
Good Luck to all of you who waited for it!
boring boring...waiting and waiting for something, anything...
Cash, women in bikinis always helps the pps...
Hedige/Small
You might be right, but there is no evidence they will reverse merger into the china pharma. China needs oil as well so its also possible they keep the O&G thing going
Now I hope you are right and I'm wrong cause your thesis seems more interesting...but its definitely wait, wait wait.
Boozing and snoozing here.
looks like we are heading to sub penny land...I mean there are no assets 4 employees and no cash in the bank....so WTF.
Well if there is a super 8k, I guess we can expect a nice pop. in the meantime...its boozing and snoozing.
10Q reads like an oil and gas exploration company....No biotech connection here except as noted that VPRS has 4 full time employees some of whom are connected to the china pharma
Well folks I suspect the wait continues.
I saw some other posts about what these chinese guys paid for the shell. Can someone please point me to the listing that says they paid .01 vs .10? I see the .10 one.
Thanks
Go
I'm still here and holding a large 6 figure position. I'd like to add but gonna wait till we get a little more clarity
I suspect that whatever they are upto is taking a lot of time to figure out. But just so its clear, if they paid .10/share for the shell, its hard to imagine that this will remain under .10 for ever
I think patience will be reworded if you paid under .10
GLTA
well Valiant, I agree and disagree. Yeah, they had to file to be compliant, but they also discuss management operations and give some info about the future and this is where I disagree with you.
They have stated they are moving forward with oil and gas exploration and among other things would need to raise capital thru a public offering. I see 300mill shares are authorized so they can do that. Plus Jimmy wang can sell chimerica's stake. Further, give no indication about changes in direction for the company. If they were planning that, they should have said something.
Iagree these guys are not oil guys, but they gave no indication they were getting in another business...so we will see.
And I do hope you are correct, if there is something you read that would support you other then education and experience of managment, please point me to that info
GLTA
Wiz - what money????
They need 15k just to pay rent, turn on the electric, maybe send a email now and then
This whole thing is a joke. I mean the idea that the chinese were going to do something different then oil and gas with the shell.
I guess on the positive side if they find some oil and gas, and oil goes to 150/bbl, then we might be rich. in the meantime, someone has to explain how the develop these leases on Working capital of 150k. Even if offer shares to the public like they state, do you think this management team which knows NOTHING about the oil business will be able to establish credibility with anyone in this industry?
Would be different if they were raising money for drug development, atleast there is some connection. Instead of Heinken, looks like PBR this weekend
Website is still down...I know nothing about reverse mergers but reading the 10k it seems like this will remain and oil and gas company for the forseeible future.
BADEN that owns alot of shares must be wondering WTF...They are in this oil/gas business.
I think the shorts will have a field day until its clearer what this company will do to increase revenues. The most important data point I read that is a reason to short, is around the need to rais 150k to fund current operations. Are you kidding me.
Wonder what the GURU has to say about that.
I guess its time to start drinking...
Abd this.... nothing feels like biotech land
Our current business plan strategy is to develop the prospects that we may acquire interests in. We intend to fund any lease acquisitions and any seismic costs needed to further define the prospects from additional financing. No assurance can be given that such additional financing will be available to us as and when needed or, if available, the terms on which it will be available.
Subject to receipt of necessary financing and the evaluation of our proposed oil and gas operations, we plan to spend approximately $100,000 in the next 12 months on oil and gas related activities.
We will require financing to meet working capital costs, including the cost of reviewing and negotiating transactions and other ordinary general and administrative costs such as regulatory compliance, investor relations, advisory services, officer’s salaries, office and general expenses, professional fees, travel and entertainment and rent and related expenses. We estimate that the level of working capital needed for these general and administrative costs for the next twelve months will be approximately $150,000. However, this estimate is subject to change, depending on the number of transactions in which we ultimately become involved. In addition, funding will be required for follow-on development of working interest obligations of any successful exploration prospects.
Oil and gas exploration requires significant outlays of capital and in many situations may offer a limited probability of success. We hope to enhance our chances for success by effectively using available technology, rigorously evaluating sub-surface data, and, to the extent possible, managing dry-hole and financial risks.
We intend to rely on synergistic partnering with sophisticated industry partners. The ideal partner would tend to be a regionally focused independent which has a large seismic database, a solid grasp on the play’s history, and a lead in understanding technology to exploit the play. However, there is no assurance that we will be able to successfully negotiate any such partnering agreement or raise the necessary financing to invest in such a venture, or that any such venture will yield us any revenues or profits.
Saw this
"Management has plans to seek additional capital through a public offering of its common stock"
Yep, its pretty clear this 10k is backward looking and nothing about forward looking statements. Although there have been indications of reverse merger, there seems to be know information about the future plans of this company, no update what on what new management is planning.
Could be they sit on the oil leases until China needs some oil
I stil maintain there is a reason for spending.10/share to buy out the old management. I guess we still have to wait and wait.
Good luck to all LONGS!
When they file, they would do so under the company name etc. It filed as if the "E" was never issued. the "E" is to alert investors that the company has not complied with SEC.
Keep in mind the ramifications of "E" means we end up on the pinksheets. Removing the "E" is important cause you can't be "E" and trade on BB or NASDQ. On the other hand, pinksheets doesn't mean you are out of business, you just fail to meet the listing requirements.
I'm not worried, but will keep watching this closely. I think either way, I have to stick this out cause like many we believe the company's new ownwers will take the company in a new direction and lock in shareholder value. It makes no sense for them to buy the shell for .10/share and then waste it by letting this go to pink sheets
That's all my opinion and I disclose I'm long and still buying
E (for error) is not a bad thing as long as they come compliant in the next 30 days. If they don't comply, its off to the pink sheets and that would make the value of the shell worth much less the 3.5 mil
I don't know if what hedgie says is true. but now is not the time to panic. If we are still here 29 days from now, then its panic time!
Good Luck to all
I believe they file the 10k. It might not be today but they will file it cause they have gone to great lengths to file everything else. If they dont file today, we still can trade here for a short while before we pink sheet.
The market is behaving like something is wrong. I hope the market is WRONG...
I was getting ready to buy daddy some new shoes and momma a diamond ring. I guess I'm off to the thrift store for some shoes and a box of cracker jacks (hoping the prize is a diamond ring!)
Hotlips, the point I was trying to convey is the company thru Chimerica LLC has 35 million shares for which they paid .10.
The principals at Chimerica are also part of the new management team at VPRS. No one knows (atleast no one on this board) what they intend to do with there 35 million shares, but raising money to fund company operations (thru public offering or open market sell orders) is certainly one possibility. They could also sell shares and high tale it back to china.
we just don't know. But sitting on stock for them makes little sense to me. You own a shell company as of today. Tomorrow you might be in oil, you might be in biotech, maybe fast food!!
Hotlips, what I mean by public offering is that management which has 35 mil share may chose to raise money either by selling in the open market or thru a public offering. If its thru a public offering, they can SET THE PRICE. I have seen many early stage companies allow insiders to contribute their shares in a public offering.
Dilution would occur if they increase the outstanding # of shares and then use that as "cash" for whatever purposes like acquisitions, employee options etc. There is no reason to speculate right now if they intend to increase the float or the # of shares to issue. Its possible they could do both in the future but they won't ask for shareholder approval on this until they identify what they intend to use the shares for. The good news for us is management does NOT HAVE 51% of the voting rights so have to come to us for such a decision.
$3 to $6 would be sweet. Daddy can get a new pair of shoes and momma a diamond ring
I think the filing is necessary but also reminds us how many shares the insiders have and maybe ready for sale at anytime. without any knowledge, I suspect they will want to raise cash either thru market sell order or thru an Public Offering. either way, this is more evidence they will likely monetize their investment which is good for ALL SHAREHOLDERS who purchase below their price of .10
GLTA
based on the lack of volume, it looks like the market is NOT anticipating anything exciting related to the 10k. this is my opinion only
some one got a a lot of cheap shares today. Everything under .10 is a BUY!!!
Good luck to all.
I;m stil here too. I've add some over the last 7 days...feeling pretty FULL...
Will be interesting to see what happens 1 week from today.
:)
Milk
That certain is possible...what's interesting is the 10Q should refelect the business of the new owners...that could cause some fireworks!!
still a 40% discount to management's buy in of .10. These prices are attractive unless management intends to lose money
Hedgie, remember that I predicted this delay??? Its doesn't mean things are bad or good, it means they need more time to do it right.
I think that is what we should all focus on....They are making every effort to make things right. Althugh I'm holding until I raise more cash, I would suggest to all that if you are a gambler, you might want to keep adding shares at or below .10, which is Management's cost to acquire the shell.
Expect the report on Wednesday, Sept 14th. and possibly some filings before then.
Hippo, Wiz, get ready brothers...
Hippo, what does it mean to be non-dtc?
I'm in another penny stock TECO and they would not execute my sell order at the bid today. I don't understand why unless it was because I had large position to sell noted as ALL OR NONE
I'm done nibbling boys...getting ready for the feast.
Hippo, you ready??
Why can't I buy some cheapies today?
trying to buy some shares at the ASK and no one is selling to me.
Not sure what happens this week or next, but I stand by my call that anthing under .10 is a STRONG BUY based on management's stock holdings at .10.
GOVPRS
It was a quiet day for VPRS, so the market waits and waits to see what will come next.
Hippo, hope you got some cheapies today!!!
GLTA
Some thing is going to happen someday...
The lower pps right now is a huge buying opportunity for anyone who wants to take a chance.
Management paid .10/share today you can buy for .057 Its hard to imagine why the managment wouldn't monetize their investment.
I just raised some cash thanks to the nice move in the broader market and will be looking to keep adding to VPRS as long as we stay below .10 pre 10k release and R/M annoncement.
GO hungry hippo, go Wizkid, go Hedgie.
GOVPRS!
Wiz, the 10k will be mostly backward looking. There is a chance that in the 10k they will discuss operations in terms of what is planned, but I suspect they will issue a PR as well as some other filings that show things like
1) New name
2) new incorporation (Maybe they incorporate in another state?_
3) and some a current Qtrly report so we see what is up.
I dont really know for sure cause I'm new to the R/M thing, but 10ks are generally looking back so keep that in mind incase for some reason the 10k comes out, but info about the new direction comes later.
Good Luck to all LONGS!
GOVPRS
43% Discount to those who Believe that good things will happen
RE:AUDIT
Wiz has a point that the audit might be taking some time. I suspect Sam is looking at the books of the "biotech" but we really have no idea. The books for VPRS are relatively clean. WIth no business activity, I would imagine things are not complicated. With a biotech that presumbly has business operations, that's a completely different story
Its very very possible that 10k gets released by Aug 31 and news on the RM is release sometime later. If you have set a deadline of Aug 31 to dump shares if no R/M Accouncement, then you might be leaving $$$ on the table. We are here for the R/M and because we want the new company to be legit, we hope Sam K will find the truth.
I'm holding until R/M is annouced no matter what happens before or on Aug 31.
Fill the bid for 525K shares... DO IT!!