Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The new owners always issue themselves a controling majority of shares, and then some, reducing the equity of previous shareholders to nothingness and oblivion.
Current shareholders will be wiped out.
$900 of sales in 3 months is not a "booming business".
after R/S only 2 million or less float
And that's when the debenture holders will convert debt into shares, pushing the O/S to 100 million all over again, and then to 1 billion…
What do you think will happen to the share price when 100 million new dilutive VTNL shares drown the 2 million remaining VTNL shares ?
R/S will bring this float down to little or nothing
...while wiping out shareholder's value…
20 million in volume today
people selling while they still can ?
VTNL has a huge backlog of convertible debt.
The debt holders have trouble moving those worthless $0.0001 VTNL shares.
It's at their behest that VTNL is going ahead with that 3000-to-1 Reverse Split. Shares will be easier to move at higher stock prices.
VTNL has $555,224 of convertible debentures outstanding, plus $567,250 of (unpaid) Notes Payables. That's a terrible financial position,
for a company that has no viable business yet, and that will have to borrow even more if they still pretend to be launching a business.
What do you think that will happen when the announced Reverse Split takes place ?
The stock will fall like a rock, and all current shareholders will be wiped out.
And all the people credulous enough to buy during that period, until VTNLD stabilizes anew to $0.0001, having wiped out another crop of hapless VTNL shareholders.
VTNL has "great products", but has been unable to find a market for them.
The company's finances are horrendous.
And now they're proceeding to a R/S, making all current shares worthless.
I mean, worthlesser.
Yep, VTNL will skyrocket down 3,000%
A sub-sub-sub penny stock stock price never recovers from a Reverse Stock Split, not while the company has still a huge overhang of convertible debt.
VTNL might trade around $1 for a day, and then fall down all the way back to $0.0001, fleecing another crop of shareholders in the way.
Why can't they instead retire the five billion shares?
You want VTNL to "retire" your shares ?
It doesn't work that way.
The ValueSetters sale was an insider transaction.
Pervasip's vice-president resigned 2 weeks before the transaction, and the servers and the VOIP business were "sold" (given away) to a company in which he was involded.
1 for 3,000 Reverse Split.
The current shareholders are being out.
https://www.otcmarkets.com/filing/html?id=13371368&guid=yuf3UaTrf7-rl3h
The 10-K has been filed.
In 2018 VTNL borrowed $973,585, and sold for $5,379 of dogfood.
During the 4th Q of 2018, VTNL sales were around $1000.
All the debts are convertible into zillions of dilutive VTNL sahres.
https://www.otcmarkets.com/stock/VTNL/disclosure
5.8 billion shares outstanding.
669,209,173 shares issued and outstanding at December 31, 2017.
As of December 31, 2018, there were 4,494,112,772 shares of the registrant’s $0.001 par value common stock issued and outstanding, which were held by 33 shareholders of record.
As of March 31, 2019, the Registrant had 5,826,958,371 shares of common stock issued and outstanding.
Total Current Liabilities: $2,791,251
Total 2018 sales: $5,379
Operating expenses:
Consulting fees: $1,376,284
Total Operating expenses: $1,638,974
Loss from operations: $(1,636,280)
Net Loss: ($4,568,608)
2. GOING CONCERN
The Company has experienced net losses to date, and it has not generated sufficient revenue from operations to meet our operational overhead. We will need additional working capital to service debt and for ongoing operations, which raises substantial doubt about our ability to continue as a going concern. Management of the Company is preparing a strategy to meet operational shortfalls which may include equity funding, short term or long-term financing or debt financing, to enable the Company to reach profitable operations. Historically, the Company’s sole officer and director has provided short term loans to meet working capital shortfalls. We have recently entered into financing agreements with various third parties to meet our capital needs in fiscal 2019.
During the year ending December 31, 2018, the Company received proceeds from new convertible notes of $934,500.
During the year ended December 31, 2018, a warrant holder exercised the warrants and the Company issued 199,523,445 shares of common stock through a cashless exercise of the warrants.
The following table and text set forth the names and ages of all directors and executive officers as of December 31, 2018:
Name Age Position
Daniel Rushford 48 President, Chief Executive Officer, Secretary, Treasurer and Director
Samuel Berry 40 Director
Significant Employees
We do not employ any non-officers who are expected to make a significant contribution to our business.
The great VTNL stock repurchase is already over.
The original contract contained a big rescission clause.
At the time, I denounced the Limecomm transaction, that Next Group Holdings was only renting the Limecomm business, and that the transaction would ultimately be rescinded.
And that's what happened.
NGHX / Cuentas is all make-believe.
I wonder what his family will think
Which one of his families ?
VTNL's financials shows 0 new hires, except maybe the dude that's supposed to hire the "200" reps.
PVSP enriched its lenders, who dumped dilutive shares unto hapless shareholders you believed either the company boasts, or believed the company's cheerleaders on IH.
We'll know for a fact that VTNL is a failed company when they miss their deadline for the annual financials (10-K).
VTNL's 10-K is due at the begin a April, unless they file a NT 10-K for 1 5 days extension.
If filed on time, the 10-K will reveal how much more the company has borrowed (and wasted) during the last Quarter of 2018, and how many billion shares they have been issuing lately.
Why not disposable cell phones ?
Or "Woody" patches ?
Or E-cigs ?
Or anti-radiation buttons ?
this will skyrocket huge
VTNL's financial situation is dire.
VTNL has borrowed about $800,000 last year, all of it payable with newly issued dilutive shares, at a huge discount.
During the nine months ended September 30, 2018, cash used in operating activities was $(791,637) compared to $(384,015) for the nine months ended September 30, 2017. The increase primarily resulted from an increase in convertible notes executed and from the fluctuation of the Company’s stock price which impacted the valuation of the derivative liabilities as well as the interest expense incurred on the convertible debt.
There's little point in owning shares in a company that is flat broke, has negligible sales, and is certain to dilute current (and future) shareholders into oblivion.
And then the company will have to borrow all over again to attempt, again, to launch a business, thus causing even more future dilution.
VTNL used to boast that they had "contacts" with vet offices, so they would be able to place several $$$ millions worth of pot-laced pet food in bo times at all. It didn't happen.
Then the CEO boasted of his most excellent sales team. Which hasn't made a single sale other than on-line purchases.
Then he annonced that he was "in the process of hiring" "200" reps, which collectively would generate $265 millions in sales withing 5 years.
There's no evidence that any rep has been actually signed on, and there were no sales attibutable to reps as of the last filing.
VTNL's 10-K is expected either at the begin of April, of around April 15 in case of a NT 10-K.
The company enjoyed working with Mr. Chan with the implementation of the Crypto currency business.
I predict there will be no expenses, and no revenues, that can be tracked back to the cryptocurrency "business".
Like many other things those PR quips are there only to help along the relentless dumping of newly issued shares. The was no plan to generate actual revenues.
The risk that concerns me the most in that the CEO lies a lot in his PRs.
He could plead he's merely completely incompetent and writes nonsense in every single one of his PRs.
A Reverse Split would make you lose 99% of your savvy $0.0001 VTNL Investments.
VTNL going completely out of business instead of staying a $7,000 annual sales company would hurt too.
A R/S would benefit VTNL lenders.
In the first 3 Qs of 2018, VTNL spent (and borrowed) $925,521.
All that debt is convertible -- and being converted right now- into billions of dilutive VTNL shares.
VTNL's Autorized Shares ceiling is 50,000,000,000 common shares.
They are dumping 12 million dilutive worthless PVSP shares ?
how exciting
From the July 2018 10-Q:
Stellar products by VTNL
...And no meaningful sales.
Lots of debt on the books, tho.
Since there's no sign of any issuance of shares to any reps, (except to the new director in charge of hiring other reps), in the financials, then no Rep has received any signing bonus yet. And no new sales have occured so far.
The $25K in restricted VTNL stock as a signing bonus is a very poor incentive. Restricted stock cannot easily be changed into common stock (and then into cash), and this requires an "Opinion Letter" from a lawyer, which costs $250 or so.
Besides, $25K of VTNL stock now might not be worth much after one year, if there's a Reverse Split in the meantime.
I smell big news coming for VTNL
You always do.
Their $9 million "supply contract", (to begin in Q2, 2018), morphed into a joint venture into developping a hemp soap. No word when sales will begin.
It’s time to sink or swim.
VTNL has been sinking for quite a while already.
It's the deliberate lies by the CEO I have problems with.
$771,773 paid to consultants, who were a big help, guiding the company into making $4,300 of sales.
All this is borrowed money, payable in worthless shares, discounted 50%.
A net transfer of money from the hapless shareholders pockets to the shylock lenders, with VTNL officers pocketing their rewards.
VTNL's Total Sharehoders' Deficit grew from ($959,890) to ($2,714,608) in the first 9 months of 2018...
Yes, they're about to launch an hemp-based shampoo for cats!
Don't worry, after 3 years of being unresponsive, the SEC will revoke the stock.
And then, bu-bye PVSP.
is insignificant longterm
That $38K might have to be written down. What is the shelf life for doggie treats ?
They do need a capital raise to ramp production and inventory.
Nope.
1) the company is already sitting on a mountain of unsold inventory;
If you look at the financials, VTNL is already sitting upon $38,332 of unsold inventory, cost.
During the first Quarter, VTNL ordered $20,000 of dog food, cost of which they sold $1000 worth (sales price).
Same for the second Quarter, they purchased $20,000 more of dog food (cost), and sold $2000 of it (sales price).
In the third quarter, they didn't buy any other useless inventory, and sold $1,300 from their existing stocks.
2) Raising more capital would be, and will be because it is of a certainty that VTNL will borrow more every Q, a disaster both for current and future VTNL shareholders.
Why ? Because the company has already a great deal of convertible debt on its books, all convertible at half of the lowest traded price of VTNL stock, thus at $0.00005 and under. Billions of new dilutive VTNL shares are already slated to be issued and dumped.
Of course lenders will insist on a Reverse Split before lending more,
which will seal the fate of all current shareholders.
----------------------------
Buy low, sell high ? How about buy at $0.0001 and see the SP drop to $0.0000001, split-adjusted ?
What dispensaries are selling VTNL?
From inference from their financials: none.
And no vet office either.
VTNL's total sales for the first 3 quarters of 2018 tote up to $4,309, which is consistent with online sales, and not many of those, due to the total lack of advertisement.
If you spend $771,773 on "consultants" for $4,000 of sales, you're doing wrong.