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.001 x .0011 over 5 million shares just hit the bid. Conversions at this rate could bring this back to .0005. Has the CEO set a lower limit that VFIN can convert at ??
.0012 x .0014 V14.3M
so they are selling the units for $60K each ??
Yes, but all debts had been cleared here with 3 million sitting in an account. It didn't go bust.
Did anybody here use dissenters rights to try and sell shares during the take over ? If so what was deemed to be fair value ?
IS your statement of the the 15th of January where you said
"I spoke with Paul about two weeks ago and he said they have an acquisition that should close in 60 days."
lies ?
Surely there must be some legal obligations to report what has happened the money. Who actually owns or runs the company now ?
Has there been any indication of what happened to the 3 million from the buyout ? Most of Phils remuneration was in shares no money.
Does anybody have a number for the person that took over from Phil Blocker ?
He says "Any Day now" every few months. Nothing to get excited by.
So your post on the 15th of January was just another lie ?
Can you PM me Phils number. Thanks
Those jokes are getting a bit old now.
When was the last time you talked to Nick ?
Does anybody have a number for TOMS or anybody else at the company ?
Can you do something about getting our money back here ?
sums it up.
They have 2- 3 million $'s from the sale of the company. Once that is used up in bonuses and wages for Toms and his buddies then he will do something. Untill then we wait.
Obviously at that point our shares are worth zero.
Breach of Fiduciary Duty obviously those of you on this board suffering from Stockholm syndrome will never see anything wrong with TOMS actions, actually feel sorry for some of you now :(.
A case has just been brough against the JBII CEO for Breach of Fiduciary Duty TOMS mismanagement was so bad it manages to make the JBII CEO look like a genius.
Shocking that three years after been delisted by the SEC(which followed years of massive dilution and running a company into the ground) some are still saying "in due time". Is 5 years due time, ten years ???
That 3 million will be a nice retirement package for TOMS.
"and hope to have news" that has been Toms position for years now all the while he draws down massive wages and our positions remain worthless.
SeeClear who was the biggest bullS...... i have seen on boards for a long time and so called friend of Toms claimed that this company was worth over 20 million while defending Toms for years.Now we this shell is worth less than 3 million and that will not take long for Toms and his buddies to use up.
Toms has proved him self as big a failure as any of worst scam CEO's.
7.7 billion shares would probably make sense when you add the 5.5 Billion O/S after delisting + the recent 750 million share bonus for the incompetent management + NIR's remaining 20% equity converted.
We will likely see a 20:1 or greater RS as no legitimate company would touch that share structure.
It should be obvious to all including the most rose tinted Nicholas Toms supporters that this company was and will be for the sole enrichment of management at the expense of retail shareholders.
Nobody is criticizing or questioning you, just the company. NIR will take what they are given, they already made several million from selling shares. I'd be very surprised if NIR were much out of pocket at all, they likely didn't get to multiply there investment as expected.
Thats even more disturbing, they got $9.5 million in funding from one company alone, yet the company is now worth less than 3 million.
Just how incompetent were these fools ??
The management of this company disgust me, there supporters even more so.
Three - four years ago this company was trading @.0065. Now the company has a value at .0004/share. So the company has lost almost it full value. Yet the incompetent careless management have decided that they are worth another $300K of a bonuses by giving themselves another 750 million shares.
These pinkies appear to be the best way of making money going, setup a company if you run it into the ground you make money, if you do well you make money, can't lose.
The management of this company are no better than the worst of the pinkie scams out there.
Its 5.5 billion shares, from Phil himself.
From the company.
Only qualified dissenters get an offer. Fair share value can be determined as follows:
your shares
----------- X After Closing BV (estimate it based on Proceeds)
5.6 Billion shares
"I'll gladly send you his texts from my phone so you can irrefutable proof we are all screwed."
Well we know the management aren't screwed, they ran the company into the ground and then awarded themselves whatever is left. They should be getting zero not a bonus.
Its obvious that us retail shareholders were used solely to funds there wages and bonuses.
I agree and while the R/S will almost wipe us retail shareholders out and crystallize the losses we already have, management due to their massive unwarranted bonuses that they have given themselves have ensured that they are the ones who will benefit out of any future upside.
I see the management of this company as no better that any of the other pinkie scams out there. The out come for the retail shareholder has been no different.
Not sure, not sure if it will include the 750 million share bonus either. They could have been paying themselves in the shares for the past 3 years.
The A/S was maxed at 4 billion a few months before revocation and then they increased the A/S to 8 billion. I would not be surprised in the slightest to see management own more than 3 Billion shares.
We do its 5.5 Billion as per a CYSG officer yesterday.
Was told last night by the company thats its 5.5 Billion O/S. Not sure if this includes Toms 750 million share bonus. Thats how i can give an estimate of the fair value at .0005.
I'd love to know what the ex staff have to say about been sold out there shareholdings diluted and Tom and the boys getting a 750 million share bonus.
Gonzo i think i will do the same as you sell out one account, thats if they even offer .0005.
Yip he is making money on both ends and if he relists he will continue to draw large wages and he can decide to keep giving himself hundreds of millions of shares as he wants, further diluting the existing shareholders.
The share price does not matter to them as long as there is a .0001 bid and if that drops they will Reverse split allowing them to keep selling their billions of shares. If they don't make enough money out of that they will issue themselves another few billion shares.
If i was there ex employees i'd be heading to the courts they've been screwed even more than us.
5.5 Billion. I'd love to hear how they can justify giving themselves 750 million shares, when they are so clearly incompetent.
Even if he assigns all the proceeds from sale it is worthless, .000545/share. They ran the company into the ground after making there money from share sales.
There is already 5.5 Billion shares out and Toms and co have just given themselves another 750 million shares as a bonus for this deal. Toms and co will keep issuing themselves shares as they see fit.
There not touching DPSI. They have probably milked that for all they could already.
Does any body have a figure of how much money this company raised by selling shares since it was started ?
Why are they getting a bonus, they have sold several million of stock onto the market and now the company is worth only three million.Surely they should be getting fired for utter incompetence.
So Toms and his 4 buddies get almost 750 million shares as a bonus for selling the company for a fraction of the money they raised by selling shares ? This is looking more and more ridiculous!!!
Its no wonder DPSI shareholders are running for cover.
No they supposedly had a company lined up to purchase but this current deal took too long. Probably more lies though.
They did have but that was a year ago and that has passed.