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Complaints should be filed with 40 Act staff too, since Platinum is manipulating its NAV by its dealings in VSTA, which results in higher fees to Platinum. Platinum may also be using money from one fund to prop up older funds. VSTA's filings do not appropriately disclose the level of control over the company exercised by Platinum.
Thanks for delivering heartfelt message from Salim -- so maybe we can focus on BGMO and Herzog's criminal mismanagement and sociopathic behavior.
What happened to all that happy talk last year about $88 mm profits in Europe and the financial statement filed with OTC Markets which led to SEC injunction and BGMO being slammed into the ground? As suspected, not a penny has been seen of this.
What happened to $1 billion deposits in Hong Kong Bank that BGMO was going to invest in all sorts of ways? Not a penny of that seen either.
Maybe that LL Bradford firm has to double check the assets -- it was their reputation that got burned, since Herzog has no reputation left to ruin.
And then there is that chuckle head at Vsta.
Thanks for providing all this information on how awful Bergamo Acquisition Corp is -- run by sociopaths like Hillard Herzog, Sohail Parekh and Salim Chamdia. It's mind boggling that Shawn Singh would associate with such people. Again -- thanks for continuously point out how bad BGMO is, and how much damage they've done. We are all in agreement with you on BGMO and its conmen management.
No revenue at all in last 7 quarters and spending on research spiraling downward. It's painful watching the company die like this. I can't find anything hopeful/promising in the financials. At least Platinum continues to pay for the operating expenses with convertible notes. Nothing on capital raising beyond the bridge notes from Platinum and constant restructuring of loans/notes to various parties. Assets come to a grand total of $263,700 (that's actual dollars not thousands). Hilarious that company continues to mention 15 month defaulted SPA with a sham company suspended by SEC -- not a good sign.
Thanks for the 10 K highlights. Company is in state of suspended animation. Small holders should take advantage of opportunity to exit. What does VSTA gain by touting its failed deal with Autilion --- it just shows how bad things really are at VSTA and what corrupt mindless idiots are running the place.
The one benefit of having absolutely no revenues, is that the audit is easy.
Sure, this company has been great profit maker -- for Canouse/Bradley. Shareholders repeatedly hosed.
What a Joke.
Acquiring a gardening shop -- but failed to mention the sales/profits. This scam just keeps on going.
Is the Toxic Series A Preferred still outstanding?
And for all that stock/cash, VSTA gets a worn-out, piss-poor IR effort -- Mission is just phoning in old generic verbiage they know will not attract investors or more the price. No surprise that a mere 200 shares traded this week.
Is that chucklehead Shawn Singh still waiting for BMGO to fund?
You've convinced me that Salim Chamdia, Sohail Parekh, Hillard Herzog, Gary Purdon were all part of the massive BGMO fraud. What should/can shareholders do about this?
In comparison to petty offenses like bank embezzlement and bribery, the harm Salim did to Bergamo is inexcusable. He forced Herzog to:
-Make false and misleading statements about garment company acquisitions from 2006-2008
-Lie about obtaining $1 billion funding from non-existent LondonWall, which Salim forced Hillard to make repeated PRs as he was dumping almost all his then BGMO holdings in 2009/2010.
-Lie about eSoft Informatics fundings, issue PRs about money deposited into BGMO accounts in June 2010
-heavily promote BGMO about to received $$$$ from schemes like Cash Backed Deposits from Hong Kong bank, Italian Bank MTNs, Brazil Bank guarantees, Swift transfers, money management with NWI, etc.
-Baldfaced lie about earning $88 mm net income in 2012.
-make commitments to fund Greensafe Demanufacturing, Suntrough Energy and Vistagen
-make announcements about power plants in Rajastan, New Delhi with Pilot, Lebanon, etc.
-Issue false financial statements through OTC Markets and then repeatedly claim that an accountant's compilation actually meant the accountant vouches for the figures in spite clear disclaimer otherwise
-invent Indonesian clean coal mine with epliconjob and make up FortuneMint
Apparently years of false and misleading statements used to sell BGMO shares (while simultaneously giving himself 62 mm shares for practically nothing) are all because of Salim Chamdia. Now that Salim has (allegedly) apologized, how do BGMO shareholders get their money back? When are Hillard and Sohail going to jail?
VSTA returned to moribund non-trading this week after a little teasing last week.
We keep hearing that BGMO is a scam run by conmen Hillard Herzog and Salim Chamdia -- so why would Shawn continue to deal with them? Nothing else going on, perhaps.
Someone needs to breathe life into VSTA and its IR effort. Repeating once again general information on "drug rescue" highlights that nothing new is happening at VSTA. The silent message is that there are no customers, no active trials, nothing happening. The IR effort is as lifeless as the company - Mission is just dialing it in.
Really?? That's rich. Yes, it's my opinion that BGMO is complete fraud. It has no assets or revenues or operations to speak of. It's run from Hillard's home and UPS mail box, because he couldn't afford the Regus rent-a-desk. It's my opinion that the papers purporting to represent a deposit at Hong Kong Bank were fabrications for the purpose of a "cash backed deposit" financial fraud. It's my opinion that the reported $88 mm profits in European subsidiary were imaginary. It's my opinion that LL Bradford was grossly negligent and aided and abetted a financial fraud by providing statements on its letterhead regarding the Hong Kong Bank papers without adequate verification, which is reason they ratted out BGMO to SEC.
It's my opinion that the financial group around Herzog would love to relaunch the ATM but doesn't realize that grey market is kiss of death for them.
According to this report, just about every share traded is a "short sale" which isn't plausible. I suspect there is a problem with the methodology of reporting on what is a "short sale".
In any event, VSTA shares, which rarely trade this year, are easy to manipulate. It's a surprise that the few retail investors holding shares aren't taking advantage of opportunity to sell for real money what is otherwise worthless paper.
Nobody bats 100%. 2013 saw no acquisitions, buybacks or dividends. Company got thrown into grey markets by SEC because of financial fraud. To no surprise, fake papers about fake deposit in Hong Kong produced not a cent of real money. I hope the jackasses behind the ongoing BMGO scam get what is due them.
My theory is the Chamdia is having problems with Gary Purdon of Coquitham BC, non-stop pumper for Hillard Herzog. Both Chamdia and Purdon sought to profit off Herzog's stories/lies. Now they are fighting each other. It's not a pretty sight, but it distracts from real issue -- BGMO is a scam company with sociopathic liar CEO, that has no ability or intention to complete "investment" into VSTA. In many countries, signing contract to make investment when the signer does not have two nickels to its name, is fraud.
Sometimes "amateurs critics" can spot a fraud.
Are these short sales transactions from 2013 or earlier? Once SEC shut down trading in BGMO shares for cause in August 2013 (take your pick on the reason -- filing of fraudulent financial statements, failure to respond to inquiry, campaign of false and misleading statements, failure to maintain books and records, willful misconduct, gross negligence, fraud, etc.), it became impossible to short the shares.
BGMO is an explosive stock -- SEC blew it up on Aug 1, 2013. Not a single one of Hillard Herzog's fantastical stories of investment and profits over the last six years was true -- all were lies upon lies, actively promoted by friendly scam artists seeking to profit from the lies. The facts don't lie.
Two days later the SEC closed down BGMO for intents and purposes proving that irony can be so ironic.
Am I the only one who finds the recent trading strange? Generally purchases like this at the offer indicated motivated accumulation. But this stock has barely traded in last five months, and the company is desperate for cash, so (as shown in footnotes in SEC filings) it's cutting frequent below-market deals for placements to investors with ample warrant coverage and other benefits, even for small investments.
The trading is oddly bunched, indicating perhaps some washing going on. We haven't seen any news or commercial developments with the company and recent PRs/IRs are meaningless fluff.
Platinum is up to its eyeballs in VSTA, and from time to time has to explain itself to LPs, so some window dressing may take the pressure off.
On the other hand, the filing of S-1 may mean company is preparing for a Pump/Dump episode -- in which case shareholders will have opportunity to sell during the frothy pump (perhaps next week). Any company that can set up shelf registration is candidate for hot money P/D operators like Konrad Ackerman of Alpha Capital Anstalt. The operators of p/d are skillful at creating a "breakout" chart, garnering attention, lighting up hot stock boards, causing high volume and share price spike, while carefully building their short position -- and covering to lock in profits from a below-market placement.
That is what I think is being set up here. Time will tell. I wouldn't bet against them, on the other hand, don't forget to sell before the pump is over, as the stock inevitably falls back.
It's not easy to assess the quality and potential of VSTA's stem cell derived testing cultures, but one can easily conclude that VSTA has nothing and Shawn Singh is a chucklehead conman because he keeps reporting the deal with Hillard Herzog. Shawn and the board have no one to blame but themselves. No wonder the company failed to commercialize its IP -- the management and board have no business judgment, and their words can not be taken seriously.
Nope -- should I? VSTA hasn't reported any revenue in the last 7 quarters. If major pharma is using the product, I assume company would make sure investors knew about it. Instead, IR agent posts ambiguous statement hoping people would misread it that VSTA has real clients. If I am wrong, i hope company clarifies this.
Company is not being helped by constant references to involvement by Pakistani conmen. Connection to CEO Shawn Singh is unclear, but the company suffers from innuendo.
Last month's PR indicates that Platinum is still funding. S-1 filing is method for company to issue registered shares, which can be used to cover shorts. This is requirement of the hot money firms that specialize in running p/d on thinly traded OTC stocks. Put on your seat belt, as the shares about to go for a ride. No real business achievements are needed (and certainly none are visible), as long as P/D fund believes it can foster rally where it ends up with short position, which it then covers with below market share purchase from company, including warrants to boot. The key is ability to attract a crowd by using various signals to circle of friends who try to hang on for the pop. Very few independent float shares, so not difficult to manipulate price, as recent trades prove.
Thanks for information on Pakistan's highly corrupt AEDB. Didn't Herzog/Parekh's friend in government agency supply the plans for 554 MW "clean coal" power plant in 2009? Herzog used the coal plant to spin fantastical lies about getting $1 billion from LondonWall, which led to brief spike in share price and profits to that awful Vancouver promoter. Later BGMO claims their AEDB friend demanded kick-backs. What a shock. Someone was trying to shake down the scam artists.
Simple reality -- BGMO never was anything but a two-bit non-operating shell run by story-telling sociopathic CEO who lied and lied for years while steadfastly ducking fiduciary and legal responsibility to shareholders. He got nailed by SEC last August, so company not surprisingly fell apart, except for one-man rear-guard effort to blame someone else and divert attention.
Much like namesake Lyndon Larouche, I find the text incomprehensible. But it's entertaining.
P/D would be good news.
Who is Salik Al-Turabi? Innuendo about people unrelated to VSTA is not helping VSTA.
"4x the average daily volume" is funny since shares barely trade -- but that may be about to change.
No thanks to scum at BGMO.
Yes, interesting. Actual dollars are not large, but someone actually wants a few of the shares. Maybe the company has found a pump/dump shop, which means shareholders may be about to be taken for a wild ride.
P/D shops love brain damaged OTC penny stocks with shelf registrations. They orchestrate a rally (look at PLUG) and generate much trading activity, while steadily establishing a short position. They cover the short with below market S-1 at nice profit and get free warrants as added sweetener. Seen this happen with several companies recently.
This process does produce cash for the company, abet at cost of dilution. It's a lot better for Platinum than the status quo, which is costing them cash every quarter. In the end, common holders not wise enough to sell during the pump are left holding the bag.
Good luck to VSTA holders -- you might get a lucky break.
Share trading this week may be related to filing of S-1 on May 12th for unspecified "best efforts" placement by CEO and directors. Little new information == company has no revenue since June 2012. Accumulated losses total almost $70 mm. $6.5 mm of real debt and payables. No new commercial activities mentioned. Rehash of well-known blather. Still mentions BGMO SPA, with no activity since head fakes in Oct/Jan that funding was soon to happen. As always, everything from BGMO is BS, but VSTA can't get away from this fraud, so nothing from VSTA can be taken seriously. If you do business with a conman, you are a conman.
There is so little trading in VSTA, often days goes by with no trade at all, so it's hard to fathom why the stock would jump up. CEO has vested interest in propping up the shares since this helps bring in desperately needed cash from Platinum. He has exercised out-of-the-money options in the past, so why not buy shares above market?
At this point, there is no evidence of commercial activity at the company, so any value must be based on possible sale of IP to someone else. It's difficult for outsider to assess whether anything will be available to common holders once ever-growing debt overhang is paid.
Apparently Shawn Singh is deeply in bed with a criminal Salim Chamdia based on frequency of references-- this can't be good for the company. Chamdia is financial wheeler dealer accused of insider trading. Much like BGMO, there are many claims/promises of charges about to be filed against this conman, but of course, nothing actually ever happens. Just like BGMO's claim of helping wiht solar demo in Pakistan -- the BGMO people are well known for making promises which are never completed.
It appears based on repeated claims/references here and elsewhere, that Chamdia is the crook helping Herzog with BGMO scam.
Welcome back. The Canadian manipulator lives n Coquitham, BC. Look for the person who pumped this stock unrelentingly for years, never once acknowledging Herzog's stories were full of crap. This bozo must be target of SEC investigation.
And how does this relate to VSTA?
Do Habib and Chamdia have anything whatsoever to do with VSTA? It's a mystery why this is being discussed.
Nothing to do with VistaGen.
"VistaGen is confident it can rework these abandoned candidates into something usable"
Please expand on your post -- how many abandoned candidates is VSTA currently working on? WHat license arrangements exist with pharma companies that own these molecules. Are the pharma paying VSTA to do this research? How many people are currently working at VSTA? What are they actually doing?
Re-running old PRs sends strong message that company has nothing new going on and the IR agent is lazy or on auto-pilot.
You mentioned that "VistaGen shared exciting news in April 2014 when it found out that it had received a Notice of Allowance..." - does VSTA have money to actually proceed with patents in USA and elsewhere? Can VSTA license IP to others? Is anyone infringing on existing IP (not that VSTA has money to pursue them).
Why is company so opaque?
Is the latest trade example of $2 broker.
Glad to see BGMO is dead. Well deserved and fully expected result of Herzog's long running scam to fool market with unending false and misleading statements, while actually accomplishing nothing.
Even before the garment business failed, Herzog perfected his scam of lies. He was able to string this along for many years, foisting one scam after another. Glad to have called him out, and stopped the Vancouver crowd from profiting off deceitful practice.
So, what happened on April 19th?
Was this another BGMO head fake, like the diversion of attention over Salim?
It appears that the company has stopped functioning in every way, shape or form. Just waiting for slow wheels of regulation to cancel the shares.
Yes the airflow will be highly turbulent especially when the airflow makes a 90 degree turn. You do realize that minor turbulence greatly reduces energy output from traditional wind turbines, which is why you don't see shrouds/cowlings upwind of wind turbines, which could in theory greatly magnify the airflow.
As a business, this tower will never get built. Good luck with your investment.