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If we are really going to do something, here are the steps I think we need to take. And various members will have to help. During this time, we can try and find a lawyer we can trust and who will help us. Who this is and terms must be a collective decision.
1. Find out who the shareholders are, as many as possible, and try to make an assessment about the number of shares they own- and contact information.
2. Create a simple letter from a large number of shareholders, asking why the audit has been delayed. Give them a matter of days to answer it. Their response or non-response gives credibility for specific action.
3. If they don't answer in a positive way or answer at all, we need to have an online Zoom or Skype meeting where we can see- or at least talk to each other.
4. If there is a consensus, I suggest we ask for a shareholders meeting. We need something like 5% of shares to mandate one by Florida law, I believe. Florida will not enforce a meeting or minutes on that meeting unless we have the votes. At any rate, in the first instance, they demand but do not enforce the mandatory annual meeting prescribed by Florida law for a meeting. But if they do not comply, we can hold this as evidence of their lack of transparency and irresponsibility in a civil law suit.
5. If they do not hold that meeting, we answer for the immediate
resignation of Guerrero and Wade.
Thanks for your detailed reponse. Very helpful.
I know a little bit about lawyers. My father was a lawyer who spent much of his time suing insurance companies for medical claims that have been neglected by insurance companies. He also was active in civil rights and went to Mississippi to defend civil rights activist against the police as well as defending me and 16 other defendants in a sit-in Maryland. The year that he retired, he defended where is victims of police brutality and for different trials. But in my experience, very few lawyers have seemed to equal his level of integrity so I want to be careful. But there are some great lawyers and we need to find one. Hopefully on contingency if we have a very good case.
As I said and you agreed with in a recent message, the first thing we should probably do is to collectively request directly from VMSI the reason for the delay of the audit. This shows our collective strength and intention, but it also doesn’t involve a complaint that could jeopardize the stock going forward. I think that there are a few other steps which I’ve already explained that I think we should take prior to an FCC complaint. But then we should definitely make it and it might be a good cleanse. After that we should call in our lawyer but there is no reason not to start a dialogue with a lawyer and to find out the conditions for working with one we like,
But first we should try to get as many shareholders together as possible.
I like your last sentence.
I think we should have several meetings- perhaps audio- better video AND subscribe to a private message board and have an email account. Listening to a lawyer is a great idea but you have to discriminate yourself as the right path to follow. Sometimes, as you know, lawyers can miss direct you so we have to think very carefully and collectively. That’s my opinion what it’s worth.
Agreed. Me, too. A big disaster. Thanks for your interest.
Of course, I agree with you. But recently, as I understand it, several shareholders have contacted lawyers. I don't know if a substantial conference has taken place- and maybe they can reply to us here.
My problem with that- as I have outlined in my last message- is that there are steps that need to be taken before we get into formal litigation or serious SEC complaints. The golden goose is this succeeding- not some lawsuit or even criminal prosecution, if it is warranted.
I think a good lawyer would want us to take some more impactful first steps before commencing with litigation. This should be more than just talking on the Board or having individuals write emails, make phone calls or Tweet (though that has never been a bad idea- and I believe it has sometimes stimulated a response).
I have outlined in my last message what I believe the proper actions should be. Basically, they involve some steps preliminary to starting litigation.
We need to get organized.
Acting is definitely what we should do- but in the right order- to protect our investment. This working out is the best possible alternative. But, at this point, doing nothing- is not worth very much. Some kind of speed is necessary.
I have suggested that we investigate litigation if we can right away. So we know what we are doing.
But there are various things we should do first- to build our case, if necessary- but also to demonstrate our seriousness as shareholders willing to protect their interest- going forward.
The first thing we should do is send a registered letter to management requesting the reason for the delay in the audit. If they don't reply at a reasonable, designated time- that will certainly count against them.
I have tried, literally, for several years- to get the shareholders to think and act collectively. Before we even send a letter, we should try and get in touch with es many as we can- who will co-operate with us in our efforts to get justice. We also need to know how many shares are out there- shares belonging to the shareholders. If we have over 5%, then, as I understand the laws applicable to Florida corporations (by that state), we can mandate a call for a meeting. If less than that, we can call for a meeting but it will not be enforced by the state.
Florida does legally require an annual meeting and minutes, as I understand, but will not enforce it. However, a refusal by management to hold an annual meeting, even if we cannot mandate it, can count against them in a civilian court- as ab action showing neglect of shareholders.
All this about Florida needs to be verified. This is what I understand and only that.
So then, one way or another, after we find out our voting power, we should send a letter requesting a meeting.
Now, if there is fraud involved in these promotions- as various other elements- such as lack of transparency, intentional false deadlines, unwarranted lack of communication to the shareholders, we can make SEC complaints. There is a point of illegality in this area which can be subject to criminal prosecution. As I and many others are out thousands and thousands of dollars, I think this area- particularly fraud, is also something worth studying and acting on, if we investigate and decide this is the case.
The real first step then is to prepare for a letter by contacting the shareholders. I think this should be taken of by someone who knows quite a few of them and has more of a grasp of SEC procedures and civilian law regarding shareholders rights.
Sorry- where is this from?
thanks Appreciate you letting me know.
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What are member's evaluation of Hive's recent movements? Since the recent press release described Ethereum's mining output, would that have an effect on the stock, specifically for those involved in Ethereum and penny stocks? Or is that kind of investor practically non-existent?
Hi Robin-
I think the next logical step is to gather the interested shareholders together and send a signed registered letter to VMSI,
a very simple, polite letter- saying that the shareholders are concerned about the delay and would management please update them as to the raason for the delay. We should ask for an answer within a certain number of days, perhaps a week. The letter should be sent priority mail.
By sending this letter, you give them the opportunity to convey their credibility- or, conversely, their lack of responsibility. All this- and other things we can do- can be used if we need to take any kind of legal action.
Everyone should realize the desired outcome of all this is that THEY DO TAKE RESPONSIBILITY.
Best,
Ganjo
COMMENTS ARE APPRECIATED BY ANY SHAREHOLDER WHO IS INTERESTED
Thanks, Robin. I know you understand the importance of doing things right to maximize our effectiveness and safety as shareholders.
I think I'm replying to a June message. But it's looking good this morning, too.
I think this is the week we should plan for contingencies if management defaults or delays communication any longer. By this I do not mean jumping into litigation- but certainly investigating it along with other methodologies. The most profitable thing that can happen is that we make money on VMSI by continuing to buy and sell the stock in a healthy, sane and profitable company.This should be our first goal- and it should develop out of a detailed discussion with interested shareholders.
This should be a genuine organized collective effort. Not acting impulsively without real reflection as to an intelligent, careful strategy intending to make things work= through our collective power as investors and shareholders.
Me, too. But you have to admit- it’s a real question.
I don't know. That is perhaps reflected in part by the cumulative effect of many things- principally the audit and the up-listing processes being continually stalled. What I am asking- in your opinion- why would Tangiers put themselves on the line in regards to the audit and the reality of VMSI's technology (which their commitment to this and to the financing depends on) if it weren't true- unless they were part of the larger negative picture? It strikes me that this would be a very foolish thing to do... and you would think that they believe in the new financing they were promising. Or wouldn't they?
What do you think of Tangiers backing the fees for the audit and the filing fees for the up-listing in the last press release? Just curious. Not to say I am enthralled by recent non-events.
YES, JIMMY- A DOLLAR A SHARE!!!!!
You don't get it. I AGREE WITH YOU that they have proven nothing. Remember the picture of a cell phone that was labelled the VMSI MOBILE APP. A lot of people really thought the app was ready to go. I was the one who solicited a list from everyone and recorded their legitimate complaints two years ago. I know what's going on.
BUT I HAVE CHOSEN TO VISUALIZE SOMETHING POSITIVE DESPITE ALL THIS. WE ALL HAVE THE RIGHT TO CHOOSE WHAT WE FEED OUR IMAGINATION WITH. AND THIS IS WHAT I'VE CHOSEN.
$VMSI- A DOLLAR A SHARE!!!!!!!
I refuse to visualize .01 a share. I am going to visualize $1.00 a share so I won't be stuck in the mud of my own negative imagination.
I don't disagree with your complaints. We have basically the same complaints. But I do cultivate the habit, when I remember, of reversing negative thoughts and visualizations consciously. Why? Because it lays the ground for the best possible outcomes. Not necessarily in that specific instance. In other words, just because I visualize something positive- like $1.00 a share for VMSI- doesn't mean it will happen- but something will probably happen positive in the long run as a reward for my alignment with the positive energy behind the universe.
Thank you.
It's negative because you are continuing to visualize and proclaim a negative outcome. Not without reason and evidence. But not with a 100% certainty either- although it feels that way to you.
I cam choosing at least to focus on a positive outcome- despite the poor communication and unjustifiable lack of proof by management as to the reality of their professed work and claims of forward movement.
In my view, we can't totally disassociate the nature of our inward focus from external outcomes.
Despite the chaotic silence and the discussion of lawsuits and retaliation- and despite the fact that we all have legitimate complaints and the right to address our grievances, I have decided to visualize and focus on $1.00 a share for VMSI within the next 6 months. (This part was tweeted)
Thanks for pushing me over the edge, Porterhouse. There's only a certain amount of negativity that I can take!!!
Yes, I will join my fellow shareholders in seeking legal redress if we have to. But I also intend to keep my focus on a desirable outccome.
$1.00 a share for $VMSI!!!!!!
Just prior to the lawsuit action plan, I posted a suggesting that we get together to create a collective strategy to deal with this problem. While a lawsuit could be an endgame, it is not the best middle game so to speak. I can think of many things that could be better- because, as was said, a lawsuit may not be profitable and can take a long time. If this is an out and out scam (which I truly don't know), there could be criminal charges- but I don't personally take pleasure in that- but all the false deadlines, lack of follow-through and, yes, radio silence at critical moments- could suggest something more than simple incompetence. At this point, I think it could be a somewhat sophisticated pump and dump.
But I am not sure of this. And why would Tangiers stick their neck out at the late date?
We should protect ourselves and our investment by really thinking carefully before we jump. I am not the largest shareholder but I am out enough money and have enough stock- that a positive reality would be fantastic.
Self-knowledge, to me, is the root of success. And the Socratic idea of "Gnothi Seuton" (Greej fir :Know Thyself") is the very beginning of true, positive manifestation and the way the universe could work humanity's behalf. And sometimes, transformation- even changes for good- can be part of the process.
I'll still raise my cup to that possibility.
I thought that last conversation between Gharet and jpike eas extremely interesting and I have respect for both of them, somewhat polarized in their thoughts on this what I think has been a pivitol day.
That would be a highly welcome outcome. The day is still young.
Today strikes me as a pivotal moment in our VMSI experience.
Yes, we cannot let this go. But let's do this civilly but in a very determined fashion, assuming we need to.
Better if VMSI would prove themselves to all of us.
There are serious and polite ways to deal with people who have injured you. Personally, although many people have created problems for me- because part of what I do is with creative media, a very tricky field to work it- I alway strive not tl indulge in taking pleasure in the process of defending myself.I believe this kind of behavior is self-destructive and just adds to the discomfort caused by the offending party.
I guess you might say I believe in the David Carradine Kung Fu approach. So despite the fact that I think legal action may be necessary, I personally wish Wade and Guerrero to win out by coming through- although I will protect my and other shareholders' interest by, if necessary, participating in litigation.
Collective action is best thought out by working collectively and thoughtfully.
If management does not come through, I will join other shareholders in protecting out interest. But I do so reluctantly.
And I would appreciate it if the hateful and sarcastic public banter could stop.
Probably it won't, but one can always hope.
This is my latest tweet to management:
We now return to the Twilight Zone of amorphous deadlines, high promises with inadequate follow-through & communication, share prices tumbling to new low levels; shareholders' distrust & dissatisfaction reaching new proportions & disillusionment. Is this really what you want?
I am ready to discuss and implement various tactics to somehow retrieve the wasted time and money we have spent on this stock- unless I see some immediate and meaningful PR. I agree with Porterhouse that a year later we could be still waiting for a real move.
My answer to the proposal to contact members of the Board of Directors- is that is very good and it could work.
But it is one of many tactics. And what we need is a strategy and a time-table for action that comprehends a full range of tactics. Not just taking potshots randomly- but making a full effort to acquire our investments back and get some kind of justice out of this very long and difficult connection to VMSI.
I personally am going to work on an action plan. It will be simple. It will be a list of all the actions we can take that I can think of. I propose that everyone here who seriously wants to do something compose such a list.
I think we should get this done by early next week.
Then we get together privately to discuss our priorities and, of course, our resources.
If something changes, then I will be very happy. I would rather Sean and the rest of management prove their reality and help us redeem our belief in VMSI but the hour is getting late.
Shareholders- please use all your powerful, positive energy to tweet, make phone calls, send emails to management- showing shareholder solidarity in the face of THE SOUND OF SILENCE.
@VitaMobileSys
Again delay- low stock price., low volume, high investor dissatisfaction. I hoped you'd change your communicarion protocol & post regularly even if with only a little info & raise shareholder trust. Shareholders are human, like you. Empathy's an important human trait. Use it!
Sent you something else.
But, yes, I believe that they have something- and I believe they will have an audit finished pretty soon- and that they are prepared to uplist if they can.
But they cannot up-list unless they can get the penny stock price to get higher. And, in my opinion, their lack of regular, reliable communication has constantly worked against them- and unless they change, will sabotage whatever value they currently have.
Sent. Check your mailbox.
As I have indicated previously, it is very unlikely that the audit doesn't exist and will not be completed, owing to Tangiers' explicit involvement in the last press release. I know perfectly the well the multitude of events that have led to our dissatisfaction with communication of management.
But this is a new day! Many of us are psychologically prepared to protect our interest now and I doubt if much more distraction and lethargy will serve the interest of management.
Still, I think everyone should make their voice heard now. We need the news... so work on those tweets, emails, phone calls. And someday, perhaps management will begin to see that real communication is the Royal Road to creating Trust between the shareholders and themselves. And that will work a lot better in the long run than what is happening right now... again, for the millionth time.
Who knows? Maybe one day they will email us back on a regular basis or even... God knows... answer phone calls!!!!
Keep the faith, Porterhouse! If even for a few more days!
Do you really think that Tangiers would attach themselves to a press release that committed them to pay the auditing and filing fees for the next step in VMSI- and basically deceive the world about the reality of the audit and the filing fees? Please explain why they would do that and what do you suppose their strategy would be to get out of that level of deception?
If you can't answer this question, maybe you should be skeptical of your own truly fascinating comment? And then, one can imagine, you could consider wondering what motivated you to say it in the first place?
Explain please...