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.
VTNL: pot-laced dogfood and cryptocurrency mining!
Chinese manufacturers do not need to search the web to avoid doing business with hole-in-the-wall "company" like Hop-On.
They have lawyers. Those lawyers know that PM's plans to help them defaud Microsoft out of royalties are unsound.
The standard manufacturing contract that Microsoft extended to HPNN cannot be extended to third parties, except in the narrow case of contract manufacturing.
They're not. They have sold $4,300 worth of pet treats since January.
After claiming that they had $9M Worth of orders.
They lie a lot.
The share count is 2,921,569,860 as of October 26, 2018,
up from 2,653,441,892 last Q, so dilution was moderate.
The CEO lied again. Sales are DOWN.
Q2 sales: $2,046
Q3 sales: $1,295
Quarterly operating loss: ($189,283)
VTNL is sinking deeper and deeper into debt.
I wonder what's Rushford excuse this time. Last time he said that he missed his announced $1.5M in sales because of the California brush fires.
Maybe it was the rain.
It's a pipe dream that a subpenny stock can "go back" to any particular price.
Between then and now, billions of dilutive shares have been issued, and the company keeps on losing money and racking up debt. And repeating lies.
Making it ... worthless.
Don't worry, the CEO intends to reduce the float by 80%, according to his press releases at the begin of the year.
There are 2 possible ways to reduce the float: a MASSIVE share buy back (enough to take the stock private), which is obviously impossible since VTNL has no money.
The other way is a Reverse Split. A reverse split in a stock that has convertible debt fleeces all previous shareholders of the value of their "investment'. The R/S is followed by a dump-a-thon, the new share price tanks, and after a couple of months, everybody suffers a 90% loss,
PM apparently swapped Re-Medical for "CEDAR", a company or trademark that has never appeared in HPNN financials, such as they are.
As of last Q, VTNL had 2,653,441,892 shares outstanding.
And more than $700K of convertible debt on its books, all of it convertible as a deep discount off the lowest trading price.
So it is no surprise that debt holders have started converting the debt and dumping the hundreds of million new dilutive shares on the market.
Usually, they time their dumps with the CEOs outrageous announcements.
But this time, either the CEO has run out of fluff forward-looking statements lies, or the shylocks have decided not to lie.
We'll see in the next 10-Q how much dilution happened lately.
VTNL has a ceiling of 50,000,000,000 shares aurhorized.
The CEO promised that quarterly revenues would increase, thus more than $2000 of dog food sales.
The Q3 filings will reveal how many reps VTNL has actually managed to "hire".
Each new rep is supposed to receive a package of $25,000 worth of restricted VTNL shares.
Those shares issuances will show up in the financials.
The company talks of hiring 200 reps to increase its revenues 200-fold,
but I bet it won't even manage to have hired 6 reps during Q3.
VTNL talks big, and delivers… a ($250,000) quarterly loss.
Hasn't PM promised to release financials 6 months ago ?
If memory serves, he announced to his hapless shareholders that Hop-On /Re-Medical / Cedar would clear $200,000 of revenue during 2018 Q1.
Pity he cannot be bothered to back it up.
Of course, he cannot mix hemp oil products without a MJ license….
Nothing. For years. The company is shut down and owes money.
The stock repurchase period closed last month.
As a guess nobody bothered to mail in his or her stock certificates.
Q3 Financials are due in about 3 weeks.
PVSP hydroponics sales will climb thru the roof !
Takes time and money to accomplish great things.
In VTNL's case, money borrowed with convertible promissory notes, that will make VTNL's shares worthless thru dilution, even if VTNL sales pick up.
Also, one doesn't launch a sound company on the basis of lies.
Just ask Theranos' CEO Elizabeth Holmes.
VTNL CEO mislead his hapless shareholders a great many times about the company's prospects.
There were about a dozen PRs about their $9 million in supply contracts, that don't seem to creat any actual sales.
And his latest lie is the "200" reps that the company purports to be "hiring". Come year's end, VTNL will have less than 10 reps, not "200".
That doesn't prevent the CEO to advance bold numbers about how many $$$ millions in sales those "200" reps will genarate ... in 5 years.
Well, at least he toned down his rosy predictions a little.
He merely claims that Q3 revenues will increase. The $1.5M promised last Q seems off the table now.
And the bogus Share Repurchase Program is over now. How many of you guys tendered your shares so they could be repurchased at $0.01 a share by the company ?
For the VPs and "consultants" too.
Last year, VTNL spent $1,094,256 in "consulting fees", for $3,000 of sales.
So far this year VTNL spent $200,00 in consulting fees, for $3,000 of revenues.
Can't he dope himself with strawberry-flavored CBD oil ?
The CEO asserted, once again, that Q3 revenues would go up.
This time, he didn't promise $1.5 million in revenues.
So, $5000 would be enough.
But, but but ! PM tweeted that there were "new disclosures coming".
He wouldn't lie about that, would he ever ?
Pervasip's "sister" company, Bitzio, was suspended by the SEC last week, for being dlinquent.
Both companies were for a while owned by Kevin Kreisler, and were used as a vehicle to obtain a loan, which they both failed to repay.
BTZO now has a nice skull-and-crossbones flag, and will trade in the Greys.
BTZO's last 10-Q was in September 2016.
PVSP's last 10-Q was in December 2016...
Quarterly sales of $2,000, not $20,000.
$700K+ in floorless convertible debt.
I expect these charting algorithms assume that the O/S is constant during the period in question.
I mean, when has a subpenny stock with heavy convertible debentures ever increased its O/S without notification ?
with no drop in the SP
VTNL was trading at $0.05 in May...
PVSP is being promoted.
According to one of the posters on the channel:
Is he still in this, or did this get hijacked
Without financials, no way to tell.
Kevin Kreisler had relinquished control,
Oh, right, it's being promoted.
That means a toxic lender has 3 billion shares to dump.
That lender will make money. Everybody else will lose.
Facts don't matter. Black is white. Truth isn't truth.
SUSPISCION BREEDS CONFIDENCE
The company is broker than broke. Until it releases up-to date financials, it should be considered worthless.
After it releases its financials, it will be proven to be worthless.
In 2015, the company was ($9,103,249) in the hole.
Then it got worse.
During the 2015 move, a lender dumped 2.5 billion shares.
The first company that PVSP "acquired" was worthless.
The second, a run-down gardening outfit, closed shop after 6 months of losses.
Even Kevin Kreisler cancelled his 60% ownership of PVSP to avoid getting involved in the toxic lender lawsuit.
Valuation ??? The company is worthless and in the hock of several toxic lenders.
The key question is how many billion PVSP shares did TCA Global settled for,
and when will it start a PnD campaign to get cash from those worthless dilutive shares.
So you have nonpublic insider's information ?
Right, building shareholders' value all the way to $0.0001
And then going dark for years.
That's certainly possible.
I wonder how many billions of PVSP shares TCA Global received for the $1,000,000 owed by PVSP ?
Pervasip might be tempted to put out a couple of fluff PRs to help along the dumpathon (as they have done in the previous dumps), but I seem to recall that the SEC takes a dim view of companies that make grandiose PRs while their financials are not current ?
PVSP is seemingly out of any business.
PVSP had "acquired" a gardening shop located in Denver, Co, Grow Big Supply.
The manager of the shop was its previous owner, that had became a minority (40%) owner since he partnered with with Kevin Kreisler for funding.
Pervasip "acquired" 60% of Grow Big Supply in a transaction where PVSP also gave away 60% of its ownership to a Kevin Kreisler company.
Pervasip operated GBS for a few month, until the employees of Grow Big Supply apparently emptied the store of anything of value. That was the end of the "brick-and-mortar" pot era.
PVSP had also "acquired" Canalytix, a purported hydroponics software company. As it turned out, Canalytix had no employees, no offices and no operations. Just a paper company.
Since Pervasip had borrowed $500,000K from TCA Global, and that Grow Big Supply's inventory was the only meaningful asset that was pledged against that loan, TCA Global sued Pervasip.
Pervasip went dark. I've been told that the lawsuit had been settled since, no details.
Here are excerpts from PVSP's last 10-Q.
Yes, last PVSP filing was a year and a half ago years ago.
Since then, total silence from the company, such as it is.
The PVSP board is suddenly infested with pumpers, while the company has been inactive for 2 years.
Clear sign of imminent dumpage of newly minted dilutive shares, usually accompanied by fluff PRs.
Assumes fact not in evidence.
The CEO has been bragging about his company's "growth" all year, but all he has to show is $2000 of online sales.
What is definitely growing is VTNL's debt. But hey, it's all convertible into dilutive shares, so it will all go away sooner or later, right ?
Here's the CEO bragging about his $3000 of sales, months ago:
Total Shareholders’ Equity (Deficit) ($3,133,252)
VTNL is a very undervalued stock
Right. Each share is a two-and-a-half billionth of a $3 million debt.
That and 50¢ will not buy you a cup of tea.
Do you think VTNL will make $2M of revenues in Q3 ?
That would be a big jump, from $2K to $2M in 3 months.
If the California fires are over.
At $0.01 a share with 2,653,441,892 shares outstanding, VTNL would then achieve a valuation of $26 million dollars.
But wait, they owe $882,333 of debt convertible into shares, that should increase the O/S to 6 billion shares, which would make the company even more valuable if it ever reaches $0.01 a share !