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.
Ya know Ted. I was just thinking how much conversation sucks. Wouldn't it be great if we were talking news and results. That great contract with the FBI, DOD or ... anybody. Wouldn't it be cool if the buzz was how they had cut the loss that had been dropping at the end of 2013 to break even or better and not the 10k financial nuke. This company had real momentum going into last year, the stock was increasing and PLOP goes the Raefield.
Now they have no money after blowing another $2M and have to do a 3 cent financing and no IR money to get the thing up a bit first. I doubt they have much cash left after selling their receivables so whatever they come up with will be BAD for all of us.
As a somewhat sophisticated investor in OTC stocks I learned something a long time ago. Many more people read these boards than post but the health of a stock can be indicated by the number of posters and postings. Posters tend to be new investors (like Boogins last year), fans and foes, and for dead stocks the hangers on.
VSYS is not a dead company but it is a dead stock and basically has a few hangers on. I know of stocks that are trading at way better valuations that don't have half the story of Viscount and all of them average 20-30 postings/day and trading at dollar volumes of 5-10X vsys.
I've harped about this since last year but VSYS had an incredible opportunity to get the word out last year with their contracts, approvals, patents etc. and the CEO totally blew it.
It's all very pathetic.
Interesting posts. I was just thinking about the lawsuit reported in the 10k. What if Raefield becoming COO was part of some sordid and concerted attempt to force the old CEO to resign that lasted a year? The MACE lawsuit that cost that company around $6M sounded similar.
One of the claims by the old CEO is that the company acted in Bad Faith. In the employment context this means dealing unfairly, lying, humiliating, stripping an employee of responsibilities etc. in a malicious fashion. Sounds like this is what was happening.
If this is true then this contract is both a smoking gun and one of the stupidest things the board/Raefield could do, to put in writing that the COO is the new Boss, that power was transferred etc. Canadian juries don't look kindly on this stuff, damages have been held up around $500k just for bad faith let alone the other claims.
Their proxy is later than other years. Intrigued as to the cash and prizes awarded to our imperious leader for his outstanding performance.
Will wonders never cease. I has This one tagged in the tax loss column and there's still a heart beating.
2.2 If I didn't feel so sick about this I'd Be saying I told You So when this brillant management change happened
I feel for you. I wouldn't give up hope since the world is full of companies that suddenly feel like over night successes after 5-10 years.
MY biggest concern about VSYS is that after years of heavy lifting and R&D they dumped the team that got them there are entered into a disaster that will be hard to get out of. The company did no real IR or marketing last year so I believe the issue for nsys for the last year has been a lack of hoopla, not too much.
I don't think they report compensation in the 10k. You'll have to wait for the proxy stuff in the next few weeks.
As an aside if Raefield put in some 9 cent money it's good to see his 3 cent performance affects him like the rest of his victims.
Can this thing go much lower. The chart looks like a downhill ski run.
Maybe he could cancel his $7500/month pad and trips for the wife and the company could start a share buy back. At these prices it'd be about 300,000 shares, at least a start
I'm not sure who's been making accusations. Finra noted some concerns. I did a web search on industry publications etc. and it seems to back up stufff he said. The Viscount sponsored webinars I found were all from 2012-2013 etc.
Looks like we're down again. Pretty soon Raefield will be making us use the old expression getting your 2 cents worth for anyone selling stock.
I'd love to agree except for a few glaring concerns. Firstly, this intercom system will represents peanuts as far as revenue goes. Secondly, Raefield was talking profitability by Q4. This company was on the rails going into 2014. The losses were dropping and revenue was starting to go up. Instead he lost $4 MILLLION. This harkened back to his days at MACE when he squeezed out the CEO with promises of a rapid return of profits. Instead he lost about $30M in 3 years.
Viscount doesn't need to bring in a bit of cash with another intercom. They need to clean house because as it stands the cash burn rate is untenable.
I noticed a while back that he's no longer board moderator. He bought in to vsys when it was over .10 so he probably sent Raefield an Xmas card and took a year end tax loss.
The number is on their news releases 212-682-6300. I've tried calling and left msgs but no reply. However another investor related the following. There are 2 contacts. First after a number of calls he talked to Allison who knows nothing about the firm and suggested he send an email, which he did and went unreplied. But she said Thomas might know something.
Then after several attempts he got ahold of Thomas. Thomas has a company powerpoint! He knows nothing about their plans, nothing about their financials, nothing about their products... nothing that's not on the powerpoint, which isn't much. Apparently he sounded more paranoid about saying anythingthan educated about the stock. But he suggested in the future if an investor needs details they should send an email rather than call.
He did say might do investor relations at some point and said they'd be targeting institutional investors. When it was pointed out that that most institutional investors are barred from investing in the OTC Thomas said that the company is participating in a tradeshow. When it was pointed out that a tradeshow isn't an IR activity Thomas asked my friend what he would suggest.
My friend said that there is no retail support and that perhaps the company should target retail investors through social media and perhaps partnering with some of the penny stock sites etc. Thomas said they company isn't willing to anything illegal like a pump and dump. My friend told him that promoting a stock is only illegal if it is based on fraudulent misrepresentations and that Viscount has more than enough ammunition to do ethical promotion.
I can't remember the rest but basically appears these guys are being paid to answer the phone without any training or knowledge of the company. So much for Raefield's Q3 announcement of bring some real pros onboard for Q1.
Based on the 10k it appears they are paying $7500/month + $5000/month in stock for this. I've heard that chimpanzees are cheaper and probably more informed.
I would welcome someone else to call. They've only been on board a few months so perhaps we're being too harsh to expect the IR guy to know .....anything.
Try phoning their new IR firm. I found it ..enlightening.
Go Dennis GO. .026 with a bullet
Warning - Sarcastic Post to Follow
After a year of wondering what the @#$ these guys were doing today we found out and management is fully exonerated of my concern that they are simply clueless.
It was not streamed to Ihub but Yahoo reports that at the world's largest security tradeshow next week Viscount's BIG focus is the release of the Enterphone IQ or the EIQ - not to be confused with EIO, the popular expression from a children's song describing pigs at a old McDonald's trough, not the ones at the vsys trough.
I bet the $2M investors from last year are as pumped as I am. I bought into a company with an amazing technology that could get bought at a big multiple if the company executes. Instead of spending the $2M to market Freedom and the stock he spends it on an intercom system?
The intercom business is puny and will do squat to enhance the value of this company. THAT IS THE REASON the old CEO MIGRATED TO ACCESS CONTROL IN THE FIRST PLACE>.
I may be wrong and will solicit comments:
We know from the 10K that sales of Enterphone for 2014 were $400,000 and were expected to be stagnant or fall. The market is approx. $100M.
We know from the 10K that sales of Freedom went from $888K to $1.6M. The market is over $1.2B.
Please help me, someone.. anyone.. understand why it makes sense to add a product to the dying product line in the puny market instead of investing in growth and why an investor would like this new story.
In other words, even if successful the EIQ will generate what? Maybe $200K/yr. in sales in a company that needs to grow by $3-4M/yr to get anyones attention. This is freakin insane.
After reading the last post the whole board should resign. Let's see, Viscount does about $1M per quarter. The cash and prizes kick in with a single Q with operating income of 4% - a big $40k; even if the company reverts to losses the first $100K stays. This is before interest, taxes etc. so the shareholders get about $30k to share.
So by generously rewarding us with a single nominally profitable quarter with about $30K CDN after tax Raefield gets a raise of between $125K and $250K per year.
LOL LOL. Do the math. We're better off at break even!!!
I sold a bunch between .10 and .15 then backed off, stupidly in retrospect since I broke my own rules by keeping a block. Now there are no buyers so I'm stuck. The company isn't far from liquidity value I suppose. I just noticed the new 8k filed today. Usually these agreements are reserved for companies in cash flow crisis. Even though Raefield has been lying about cash and we all know the truth hopefully they'll do a financing soon, can Raefield and keep the doors open.
I can only conclude that the CEO can't recall his lies. During his Q3 call which was after all during Q$ he stressed that the company had a good cash position and now they are making excuses that sales were impacted by a lack of Q4 cash etc etc etc. He takes us for fools.
Was anyone on the call. I'm interested in the Q&A. The rest would be just talking heads.
I've never sat in before and have so many excellent questions. I doubt he'd answer them anyways.
VSYS released their 10k results apparently but it hasn't been filed with the SEC? I've never heard of a company sending out a news release with their financial summary before filing. I may be wrong. If someone has a link to the actual document pls post it.
Awesome. “2014 was a stabilizing year for Viscount,” said Dennis Raefield, President and CEO of Viscount (and no longer Chairman) Does anyone remember anything about a stabilization plan for 2014. wtf. That is the most absurd CEO statement ..ever.
Actually, Raefield "stabilized" the company to the tune of losing $4M smackaroos. omg lol. The same kind of story when he "stabilized" Mace.
They say they reported Q4 but had nothing to say about it. Possibly because sales for Q4 fell about 12% vs. 2013 and about 35% vs Q3.
What we now need is a good stabilization plan for 2015 that the doesn't include Dennis "the stabilizer" Raefield or we're toast.
PS. I posted awhile ago that he was talking with forked tongue during the Q3 call about cash. He also said during last year's agm that they would never have to raise cash again! They had $190 at year end and raised a bit more in January. Do the math ppl.
I would tend to agree but I didn't get this way by my own. I have now listened to 3 quarterly and annual conference calls and have been simply shocked at the amateur presentations by this so called big shot CEO.
Yet I am now more optimistic. He's been stripped of his Chairman role and that says that someone else is fed up too.
One important thing to listen for is who's to blame for the .05 stock. During the Q3 call Raefield blamed ex-employees for dumping shares and pushing the stock from .15 to .08. The stock has fallen about 40% more since then so I really want to know who Raefield blames for the additional drop.
Try to guess which of the 4 answers below is very unlikely his explanation for the stock price crash.
a. Will he blame the ex-employees again?
b. Will be blame small investors and perhaps some ex posters like Boogins?
c. Will be blame some larger original investors who have been selling?
d. Will he blame the himself as CEO who did nothing to promote the company's products or stock so the drop is a reflection of his own mismanagement?
We'll know tomorrow.
I don't usually sit in but I've been told the CEO is entertaining. Instead of talking about IR plans, marketing plans, and financials he usually gets to the important accomplishments like renvovations. This kinda makes sense since the CEO probably knows we all find financial stuff boring. I've prepared some questions for the Q&A already:
Last year you talked at length about office renovations and desks but never discussed the lunch room. Do you have any plans going forward to replace the coffee machine or fridge and would the fridge have a built-in ice maker?
I agree. The old expression that no news is good news is the opposite for stocks - no news is bad news
Facetiousness about volume aside, this week we saw about $1800 in trades. So much for the much balleyhooed investor relations promised during the Q3 call.
I believe the 10k comes out mid april. Regardless of the results we should be patient. I think Raefield has driven the stock about as low as he can so there isn't much downside. Perhaps the stock will rise like a phoenix. Or perhaps more the like the steam that rose off the fresh crap I took when I was out fishing early Sunday morning.
If You put lipstick on a pig its still a pig. Raefield Never looked good in makeup anyways
I think Viscount's CEO is spiting those of us who believe that public companies should be well.. public. Last year he announced the long awaited IR push in January. This week the total trading volume appears to be about 23K. That's about $1200 for the week. Somewhere about $250 smackarooos a day in dollar volume.
At that rate it would take 3 years of trading to equal a single share of Berkshire Hathaway lol
GO VSYS IR plan.
We all have our opinions. I'd have more patience if I saw more progress.
Re "Lots of different ways to make money in investing."
Unfortunately I'm just not very sophisticated. When it comes to common stock the only way I've found to make money is for the stock to go up, not down.
I don't think anyone here knows why they changed CEO's. The only thing we can be sure of is that the new one is doing a crap job based on the money we've all lost on vsys in the last year (at least us unsophisticated types).
PS. Without an awareness campaign Viscount's annual results will simply not matter unless they had a groundbreaking Q4. They could be up 40% in revenue and be profitable and we'll all be sitting here patiently congratulating the CEO of our 5 cent stock.
My concerns begin and end with the stock price, which incidentally was .15 last March 3 and .05 today.
Think about it folks. An OTC stock falls by 2/3 despite revenue growth and Homeland Security approvals, patents and contracts.
So IT DOESN"T MATTER! They can grow all they want and start hitting great milestones all they want. They can announce a $5M Gov't deal. They can hire and add the odd financing til the cows come home. The stock will go nowhere. They have a few bottom feeding buyers and a few long suffering shareholders who are selling off because they see no upside.
Nbody knows about VSYS. Nobody cares because the CEO doesn't bother telling anyone about it.
Patience just doesn't enter this guys. Raefield never needed time. He could have started promoting last summer. He didn't and here we rot.
I listened to the CC's and last year was the year it was gonna hatch. The egg was there. Raefield just had to make it hatch. The only thing he seems to be good at is building an organizational chart.
But as was noted he has brought us from .15 to .05 despite positive revenue growth and meeting some milestones. Obviously something is wrong with something.
I'm wondering if the Raefield grâce period Is up yet.
Just for fun we should call them. I bet they know nothing.
I hâte négative posts. At Mace the marker cap droppes by 80-90% by the time his contract wasn't renewed. I'd call vsys's drop of 60% a relative succèss. Cudos to the CEO
It appears the much ballyhooed new IR firm isn't doing us Much good
Wow. If they keep getting jobs like this we might still have a prayer...
i noticed the news came from another new IR firm. Must Be the long anticipated push. Ironic that the stock hit .04 the same Day.
Well in a way I hope you're right that they are hoarding news. At the same time this is dangerous ground for public companies if any of it is truly "material". If for example they had several million $ in gov't contracts that haven't been announced and the stock went up a bunch before they announce they could get into some trouble.