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.
Probably your very best question to date.
I would say appropriately- in the sense, he should try and validate ;the reality of our investments. The problem to me, given I am assuming a basic honesty by management, is that true communication presupposes that the persons communicating care empathically about others. A great CEO and great management will be responsive because they genuinely care about their investors and can understand the value psychologically of being responsive.
Although I have sometimes felt Sean's responsiveness to me personally- on occasion- NOT RESPONDING TO MOST SHAREHOLDERS PHONE CALLS OR EMAILS OR EVEN TWEETS is not a sign of empathy- but a sign of feeling above shareholders.
I have diligently tried to convince Sean- and indirectly I suppose the others in management- to give a damn about their investors feel and to be responsive as a rule and pro-active whenever possible.
Also, communication should be regular- even if it is not focused on critical announcements or legal issues. Even sometimes if it is just a bit gossipy or funny. Why? Because it shows that management has a basic human interest in the people who follow and support them.
There have been signs of improvement. I keep hoping for verification of a change in attitude.
Which one?
Completely true. Like myself and many others, this lack of responsiveness is amateurish- and even hostile. I thought I have seen recent positive changes and have not given up hope, as reflected in my latest tweet which you have seen.
However, if this pattern continues, I will gladly join you in whatever is necessary to protect us and the other shareholders.
On the other hand, if by some chance, that all this turns around and some real progress is shown, I think we will have to, instead, join in together in what could be a rather massive celebration.
I just posted this. Please join me- politeness and respect can be joined to directness.
Replying to
@VitaMobileSys
Seriously, we need an update. Management needs to rebuild trust and you seem to be up to creating more regular, expected contact with shareholders. In the past, there's been a tendency to post something promising than disappear. Please continue to make this important change.
We all have. These are among the final moments when reality will be truly tested.
I want to know if this is real verified knowledge or mostly speculation? If it is speculation- and mainly an outlet for airing your own completely valid frustrations (which is shared by many of us), is it possible that you might give this type of posting a break for a few weeks?
Some of us see the recent recent postings a step up from the past- both in frequency and content. I and many others would like to give management the full benefit of the doubt.
Could you possibly co-operate?
Last night's tweet was pretty optimistic, I'd say... a few dark sub-penny clouds fell off the horizon.
We received confirmation of receipt from the auditor for all requested outstanding items pertaining to the audit. We are now just awaiting response back regarding the audit’s resolution and completion.
— Vita Mobile Systems (@VitaMobileSys) August 27, 2020
This is my reply to this very welcome Tweet:
Thanks you for giving us this update. We hope these recent & decently prompt postings foreshadow a new era in communication between management& shareholders. My personal goal during these several years as shareholder has always been to help create real Trust between all of us.
Absolutely. We must all participate in demanding transparency, responsiveness and follow-up. And if a new path doesn't open and we continue to receive never-ending and never verified promises, then this strategy must give way to another.
I believe that there is a psychology involved in interactions between shareholders and management- so far.
Basically, I believe management has in the past- and possibly now- believed that shareholders are greedy enough and desirous enough of real compensation from their investment that they will put up with delays, lack of transparency, lack of responsiveness and stay on board. That are only due attention when it is extremely important in what they they are company survival issues.
They really don't care about the sub-penny state of their stock and they make no real effort to communicate with enough frequency and commonsense to create Trust.
To me, it is an elitist but self-destructive attitude. That is why many of us question the upteenth change in the audit finale when we have been given many false deadlines.
Management doesn't even care about the majority of insulting, bizarre nicknames and unnecessary slurs on their reputation= which I and other people on this Board do care about and dislike intensely.
But that is because they feel they are abgve us- better than us- and won't even give us the respect we are due for our investments, even though this kind of attitude is destructive of their own interests.
This was my Tweet:
As I said on the phone, an update would be nice- and you can see from responses in Twitter so far, I'm not alone. Consistency and responsiveness builds Trust. (I spelled that with a capital T for a reason.)
I tweeted, too. Doesn't hurt.
I phoned Sean. I basically told him that a lot of the shareholders are giving him the benefit of the doubt. When I last tweeted him and requested transparency, he tweeted back to me that telling us where the audit stood was an example of transparency. I responded today by saying that not only was there transparency, but there was responsiveness and adequate follow`-up on issues that needed an explanation.
I also told him that I hoped that VMSI would become a great company and that I wanted him to become a great CEO- but all the above elements are necessary for anything like that to take placew\.
I then told him that he should think about tweeting something to us right away. Today!
I have to say that, in certain ways- but not always- Sean has been responsive to me. I hope this time will be my lucky day- and for all of us. Because updates can be valuable hints that management actually cares. And it would be very good if we all thought they did.
I’ve tried many times but it doesn’t seem to work for me.
Jimmy, are you suggesting we should all buy one- so we can properly bond with management?
Might be nice. Then, no matter what happens, we can feel warm, fluffy and secure.
Good idea!!
Tweet from me:
Come on, Sean. Maybe you're not ready for a formal statement till after Sunday, but you could give shareholders a nudge today- to assure us all is on track. If things become more transparent, with follow-up and regular communication, I'll request that you & Martin be knighted
Sean:
We are being transparent in passing along information as soon as we receive from the updates from the auditor.
Thanks. Perhaps for good luck, we should all be singing that- perhaps led in the chorus by Sir Weasel!!!
I have both phone and tweeted Sean today. Maybe if you agree me, you could join me in my request...
Here is my tweet:
"Come on, Sean. Maybe you're not ready for a formal statement till after Sunday, but you could give shareholders a nudge today- to assure us all is on track. If things become more transparent, with follow-up and regular communication, I'll request that you & Martin be knighted..."
I believe that if Sean and Martin reach the next level in communication and follow-up- and perform as we now all expect, they should formally receive a knighthood.
Sir Sean and Sir Martin- now how does that look on a business prospectus?
This is to the best of my knowledge.
VMSI is a Florida Corporation. By law, a Florida Corporation is enjoined by Florida law to hold an annual shareholder and keep its minutes. However, the State of Florida does not enforce this law. Interesting, huh? This absence of a meeting could count against them in a lawsuit, however.
The state of Florida, I imagine, has laws like this to attract more companies, who do not like the idea of being reasonably responsible to share holders.
Again, my understanding is that shareholders can themselves call a shareholder's meeting but only if the shareholders have at least 5% of outstanding shares.
Would that ability to call such a meeting be valuable in some cases. I should think so.
But should this counting be done publicly? I think not- if shareholders don't want to. But in certain cases, if we ever get organized- a private count would be necessary to move forward... if shareholders want to call a meeting.
Can you please tell me how the timing of a post like this helps in any way whatsoever? Does it further your cause- which I think is to make money on this stock- at a time when many of us are poised to see the reality of this last press release.
You are not the only one who has legitimate concerns. Still, I have noticed that most of us who are in this position are giving management the benefit of the doubt- in the hopes their press release was sincere and they can deliver what they promised.
Very nice. Responsive at the right moment.
Very important observation. I think it would be better that we entertained "guarded optimism." Yes, this appears to be one of the best ways to fast track this company forward but will take management to make an entirely better commitment to communication, follow-up and transparency to be able to hold and attract investors through the inevitable trials ahead of us. But, yes, Guerrero has scored a hit with all of us about his new plan. And, if so, deserves congratulations.
Thanks, Robin. Your recnt support for your fellow shareholders during recent weeks has been appreciated. But is good to be able to walk with you the bright side. And, yes, this could be very bright!
Invested in 60k, having regained a bit of my optimism.Putting aside the various steps forward and seemingly backward over the years, if Sean was going to make a grand plan to exit the carousel, I couldn't think of a better idea than going for a promising app with a bunch of downloads and quickly accelerating to a merger of technologies and improved financial prospects for both companies.
I think keeping an open mind is a good idea at this point. I, for one, intend to try.
You are a bit of an anchor in positive reality, which is an attitude this Board desperately needs. Yes, there is a time to draw lines and protect ourselves- but this is sometimes a positive thing to do.
But the Board often tends to go excessive and condemnatory and I disagree with that- and I am sorry to see someone with a constructive attitude leave.
So I would say- Please stay! - but I also believe it is your choice to make- and I can appreciate your reasons for doing so.
Do you think shareholders are aware of the latest tweet?
I agree but I would go further- if NO REAL communication comes-communication that does answer real questions and indicate real progress- not just building hope based on extending the endless waiting for non-deliverables- then we should proceed with your suggestion.
But winning people's confidence, particularly when is based on blindness (flaws in personality which allow victims to lose judgment under certain conditions)is definitely a skill that can be highly developed. And, although the victims can be blamed for their blindness, the art of gaining confidence when there should be none, can be developed into a fine art.
At this point, I appear to be one of the victims of masters of this art. And yes, I can waddle in self-guilt about all that- but I think it better to take action against those who deliberately play with my trust for the sake of their own destructive greed and covetousness.
Of course, being reluctant to hurt someone, even if justified and necessary, does not mean I cannot entertain some slight hope of an aggressor's self-directed repentance and willingness to materially make up for their actions. It sometimes happens, but rarely
I hope so, too.
My second tweet today:
ANOTHER UPDATE FROM YOUR AUDITOR AND A NEW EXPECTED TIMELINE!!! Please explain how it is possible that the finalization for the audit has taken so long?
Thank you!
Please become a moderator. Whereas I appreciate everyone on this Board now, I do not like ad hominem attacks and ethnicity insults. I have stated this regularly. I certainly understand the anger, impatience and desire for pay-back- but I would prefer to do this in a fact-based approach- with the appropriate legal consequences for wrong-doers. Not just threats- but real collective action.
Twitter, emails, phone calls are fine- but it is time to think strategically together and get organized.
I am not sure if this meets your respectable standards, but this is what I posted.
I would like to see a new day in the management of VMSI- honesty, transparency, follow-up as well as vigorous, creative forward movement, but quite frankly I am skeptical. A prompt update on the audit, uplisting and some verifiable progress report would be appreciated.
I think everyone should be involved in posting on twitter as you suggest.
Sounds like this has been done already,
Probably a more accurate description.
I understand, Robin. The last tweet wasn't at all promising. It left room to kick the can the road more weeks or months. I no longer have patience for this level of B.S.
I believe that we agreed that we would work together with other shareholders on whatever we do regarding potential complaints and litigation. And whatever we do, we would certainly tell management what we want and need and draw a line in the sand, whereupon we would carry out any action we mentioned if they do not adequately comply.
I obviously agree with you that something should be done. But whatever we do should take into consideration that many of us are on the same boat and therefore should find out who wants to be involved and take measured steps.
If you just act without agreement with the other share holders and without providing adequate notice to management, you may cut off the possibility of actions management might take to keep this entire ship from sinking.
It is a good idea to think and plan before you act- and it is considerate to act with all of those interested. I am on board too but please do things the right way.