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Chapter 7 Liquidation is not the end of the road for this technology though, just the end of the road for Vision. The progression will definitely be handed off in some form or another during the liquidation someone will buy up the software cheap cheap.
. . . and the advice I am sure was liquidation. Marshack specialty is Chapter 7, Changing lawyers is not going to change the good advice to liquidate
The big boys just quit because their client wont listen to their advice. This is toast.
"good cause exists for the Court to enter an Order relieving the Firm as Debtor's counsel of record!..." Why ? This is the END.
"the Firm can no longer effectively represent the Debtor. Given the breakdown in communication and existing relationship between the attorney and client, good cause exists for the Court to enter an Order relieving the Firm as Debtor's counsel of record."
"It actually sounds good" There is nothing good about it
Turn Out The Lights
Great opportunity to buy. When the MM'S try to grab a few.
Somethings Up Big Shake Out
Did News Leak?
Why the sudden volume increase last few minutes
Great Point "the Swiss just want their money"
I thank you for the opportunity to correct myself I should have said 'the swiss just want anything they can get from liquidation'. The management has played roulette and everyone loses.
The Swiss don't want to invest with them anymore and no lender will either. They have no trust. They are in no mood to be carrying on here. The CEO told them give us more money or else. Extortion plain and simple. The Swiss could care less. They want their money they want out. Martin knew they had the votes because they had 57% control, and yet he said who cares if they have the votes by announcing the A/S to 10 Billion he knew that the stock would plummet. He tried to box them in making the shares so worthless that they would have to vote for the increase. How can anyone like that be trusted ever again. The transition from Chapter 11 into Chapter 7 liquidation is mere days away.
Liquidation would definitely produce a strong closing signal. .0018 then .0012, .0008 .00000
Back down to .0008
IMO In the next 48 Hours Halted Trading will be in play for News Pending. GTAT will be bought by AAPL. Some Senior Management at GTAT will remain in leadership roles at AAPL newly acquired division. Target Price $11.78
It looks like they don't have many shares left if any to do any kind of financing. They will probably increase the A/S by a couple of billion they are going to have to no choice. This will definitely hit below trips
Why such a drop? Must be word has leaked to move to chapter 7 liquidation
This could go back to .0008 Quick
I had such high hopes for VIIC to succeed. Even though all the signs of failure were there I did not want to believe. Unfortunately I was wrong. IMO at this point they have no choice but to fold up tent and try again later. Good technology.
If only it were true. It was a fantasy.
And when will this enormous revenue happen? It wont.
Do you mean this DD?
To those who have connection to Attorney in Bankruptcy and on Chapter 11 cases...
VERY VERY IMPORTANT as this is how we know if we make It or fail...
with DIP financing...
"capital infusion" or "substantial loan"
Does this mean by shares? or just a high interest loan to be paid of and current shareholder continue?
ANY ATTORNEYS PLEASE INPUT OR PM AS THIS IS WHAT YOU CAN MAKE MONEY ON...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=107669052&txt2find=%22substantial|loan%22
The due diligence is the key. And the information that is available screams sell. The company is bankrupt and has no hope of any revenue. If they were to come out of BK it would trade around .0005 with dilution to 10 Billion shares flooding the market. There is nothing to move the PPS. If they sell the judge and he accepts the BK plan (that will be the only thing they have ever sold) then you still have an OTC in sub penny land.
"Almost 100% out of the question" Why not 100%? The facts are clear. Schuermann has shown that he has a dislike for shareholders. Why at this point would he want anything to do with shareholders. IMO it is a sell.
I think we will have a lot better opportunity in the next month to gather many cheapies. We may see a pop or two but I want a lot more shares so I am hoping it drops.
"NO IMPACT to the current O/S". going from 500 Million to 10 Billion is quite an impact and total dilution. If they were able to pull out of BK then they would dilute to 10 billion. But as I said the real concern is that they are NOT keeping up with SEC filings which tells me they are not concerned with SEC filings or listing requirements. It seems like they are going to wipe shares out. IMO
They already have the votes and already own most of the shares. It will be approved there is no question the mathematics says this goes to .001 before it comes even close to .01
IMO. They could just shut it down and form another company 6 months later. New slate new company new shares or no shares as a private entity.
"It is the Company’s Intention" they did not INTEND to go bankrupt either.
We are not talking hundreds of millions of dollars at stake. Schuermann could easily fold up shop. Obviously after all these years there are not a lot of interested parties beating down Visions doors to buy. If so they wouldnt be in this position. Nothing saying he couldnt close down vision and open 6 months or a yr later as XYZ Motors.
Well, No they don't have to agree. As we know the "company" does not own any exclusive rights or patents or any protections whatsoever. Look at it this way, a couple guys start this company called vision industries, they go public, it fails, they go private, it booms. That is the easiest smartest most logic path for them and for the vision.
If your shares have already been voted at the August 22, 2014 meeting, you will not need to vote again – your shares
will be deemed present and voted at the adjourned meeting if held on or before November 12, 2014.
OTC Edgar
Its a decent story line keeps you interested.
I believe Wednesday is the deadline to have obtained a quorum for a vote to increase to the 10 billion shares also.
And that could be telling, my concern may be the writing on the wall. If they were going to keep shares in tact they would follow SEC and make all filings. We already know that they should have filed an 8k when they brought the CFO back. But they didn't. If they dont file Quarterly that tells me they arent worried about listing or trading or filings. Is it possible that if they wanted to they could come to an agreement with the majority to simply dissolve as a public entity and reorganize as a private company? They should be keeping up with filings that is what makes me nervous.
Anyone know if they will file Quarterly ?
Be great to see this hit a penny today
Buying the VTEQ fear can be a good strategy . . . not here not yet.
They still had 300M as of the filing. As the vote approaches this Will decline. Who would buy knowing there will be 10 Billion shares in a month
The fireworks just getting started. In the next 60 Days we will see the price drop to IMO somewhere between .0003-.0005 Accumulate when you think it bottoms then we will surge. 4 Billion Shares in convertibles coming due. There is zero chance this stays any higher than it is. For Now.