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Debt holders always have first priority and much more control of a company, since they can wipeout the common share holders and take control of the company, especially under the current circumstances. The problem with VLDI there is nothing to take control of, only spin stories.
Just too bad the road signs and the spins stories are polar opposites!
Do not confuse spin stories for a business plan when he has failed at every turn to make one single sale that produces on going revenue. Do not confuse silence for something is brewing since the 6 license agreements that he did sell went nowhere, including Ganthet. Do not confuse letting VLDI go grey as part of his plan when he is forced to do it by all his failures.
Just use a little logic of why have a public company if he could have done all this as a private company without common shareholders. Simply just realize that over the years he spent about $15+ million on Research and Development and over $35M on sales and Marketing without any real sales, It is just too obvious he simply took the common shareholders for a ride and pocketed most of the sales and marketing expense.
Why doesn't Bruce break the silence and put out a shareholder letter to let everyone know what happen to the 20+ qualified leads in various stages of negotiations and his plans to sell the company over that last 4 years. Once again a little logic goes a long way when you consider VP is supposed to be middleware that is easy to integrate within days or weeks with most existing cybersecurity software. So if it is so great why has everyone that tested the software for 4 months for free simply walked away from the software.
Yes the road signs have been there all along but so have the spin stories.
This was posted actually on February 22 when it came out by Willy, and it was discussed. .If you read it carefully you will see it only pertains to the common stock.
Copied from the actual form:
.Common Stock, $0.001 par value
(Title of each class of securities covered by this Form)
None
(Titles of all other classes of securities for which a duty to file reports under section 13(a) or 15(d) remains)
How is 5 minutes a whole day? Also Bruce does not have a grandiose plan, he has been flying by the seat of his pants for years the only problem is that he has run out of excuses for his failures to sell the product. He failed with pc, server and POS markets and he has failed with smart phones and endpoints as well. Oh yes what a great success Ganthet deal was and the other 4-5 license agreements.
If and when, if ever VLDI makes a real sale I will turn positive, but how can anyone be positive with all the failures, over all the years, at making real sales that produce ongoing revenue?
The good news is that now that VLDI is gray, no one can hurt us. There are only two things that can happen, total failure, which is now nearly impossible, short of World War 3, and incredible success that will likely make anyone with more than 50K shares a millionaire.
Bruce has never cared one way or the other whether or not we benefitted from his efforts or lost everything.
You are right in relation to to trading the stock, but I was making my reference to fake news, that is if any comes out. It has been silent every year since Rafael's recommendation with the exception of announcing the new website, which removed the history of all the fake news from the past.
Whether Rafael is working with them or not is not the point. VLDI has had a number of companies and individuals working with them over the years like Macadamian. Yes it would be great if he is, since it would be an endorsement that he still believes VP has some potential. But what is there to work on I thought VP was a finished product. At the same time 5+ years has been plenty of time for Rafael to bring at least one of his clients onboard with the product in an ongoing revenue producing application. The point is all the failed sales, which is proof in the pudding that something is seriously wrong or there is an insurmountable road block to making VP sales. There has been sufficient trials in beta and field tests, but not one real sale. So I ask again if VP is such a great product, so easy to integrate with other software, and it is middleware that should be added to every cybersecurity tool box, why hasn't anyone become an ongoing revenue producing client after their initial trials/tests?
Also once again if Bruce ever cared for his shareholders and there is any truth that they are close to some big announcement why would he let VLDI go dark and grey. Common sense once again tells one that you can't believe what he says in private or public.
So what is the hold up with the 20+ qualified potential sales which too are over 5 years old? I will make a bet that 2022 will be just like every other year for VLDI of the same old same old. Nothing ever changes and time just keeps passing by.
Just to the contrary emails are very effective since anyone can claim someone said this or that in a phone call and it is all hearsay without any proof. Just like Bruce always says one thing to shareholders over the phone and something very different in print.
Second Rafael was very forth coming with information and responses to my questions which I have posted here more than a few times. Of course I did not post anything without his permission So he was very comfortable in letting everyone know his true opinions in writing. To this day I remember the two statements I found the most significant. The first was the statement that even thou VP was counterintuitive and radically innovative it just might be its own biggest obstacle to over come with the old boys network and the difficulty in deviating from the norm. Also that VP was not the cure all that Bruce claimed and it may have its own market niche. I can support my statements with his actual emails where I could not if I made a phone call unless I recorded him with his permission but then that would be harder to post on this forum.
BTW to this day with VP being Middleware and so called easy to integrate, I can not understand why everyone would not simply add it to their existing cybersecurity tool box.
Like I have said common sense goes a long way when looking at Validian's history of failures.
LOL, first you say we should contact Rafael then you criticize those who try.
Very funny!
Dear Rafael Gorgal
It has been over four years since your glowing recommendation on Validian and their VP cybersecurity software.. You were very kind to answer my questions back then. so I was wondering if you are still working with Validian and do you still believe that software has some potential?
! agree 110%, nobody cares including Bruce and that is sad for all those that listen to the spin meister.
That is exactly mu point if Bruce cared about his shareholders he would have never allowed VLDI to go to the gray market and would be doing everything in his power to resolve VLDI to a fully reporting company, But Bruce is too busy make sales that never materialize in ongoing revenue. Yes what ever happen to Ganthet, and the 20+qualified sales leads in various stages of negotiations, LOL. Until VLDI gets back to a fully reporting company if you are invested it is dead money and if you are not thank God you got out in time, since all common shareholders are screwed until that changes if it ever does.
It is just the opposite everything gets old with VLDI and nothing ever makes any sense, except for those that still listen to the spin meister after all these years of PR sales that never materialized.
Not knowing were you are getting this from, I just commented on the list of nine mostly one man companies he has registered in his name of which 5 are active and 4 are inactive. It just gave me an oh my!
Also funny that he longer has a website, or least I could not find it, since before he did have a nice website with his G-C partners.com listed Company before it became inactive. Curious also why it become inactive and G-C Forensics company became active in 2019.
I did not get a reply yet, but it looks like this email address works, since it did not get kick back as non-deliverable.:
rgorgal@g-cforensics.com
This email might work rgorgal@g-cforensics.com
I sent him a message and will let you know if it got to him.
That is the same email address I have for him rgorgal@g-cpartners.com. The company G-C partners looks like it disappeared as well since the website no longer exists. G-C partners.com is available on the Go Daddy site. It looks like Rafael has about 9 companies and only 5 are active. G-C partners is now inactive and probably has been replace with G-C Forensics founded in 2019, but there is no website. With all these one man operations makes me wonder!.
https://www.corporationwiki.com/Texas/Dallas/rafael-gorgal/36873297.aspx
This is getting funnier by the day sorry to say,
Yes why would anyone talk to someone who lies about sales, his role with Ganthet Sham and all the sales that never took place after trails.
No you need to ask Rafael why after his glowing recommendation even thou he gave caveats indicating that it was not the cure all and that he would recommended the product to clients if it was a appropriate fit, why in four years he has not got one single one of his clients to take on the product! That says it all.
Even thou this is a serious reinforcement of the product failure it does not negate the fact the VLDI common stock is worthless and the stock is still on the grey market. Like I said if Bruce was going to reward his common shareholders he would have never let VLDI go dark and grey.
Just ask yourself one question, if Bruce was on the up and up why would he let the company go dark and stop reporting and let the common stock go to the grey market.
A little common sense goes a long way with VLDI. If VLDI every cleans itself up and gets back to a normal trading market it might be a sign there is something ahead, but as long as it is on the grey market the common stock holders are screwed, plain and simple.
Probably because there is nothing to sell, if there was valve in doing it you better believe they would!
I believe I answered that question the common stock holders are all screwed. because the Note Holders, Bond holders, and preferred stock holders can put VLDI into liquidation at any time and take over the company. Then if there is anything to sell it would all go to them.
Keep shopping since you will probably not be able to buy one, sorry to say!
He still has the preferred stock, note, and bond holders to report to and they have first claim on any assets.
No creditor is forcing him into bankruptcy since the company has no assets to sell to pay them off. So why would he file unless it is to his advantage to eliminate all the common stock holders and let the company go to the preferred, note, and bond holders. Maybe he is planning a reverse merger but I doubt that as well because private companies looking to go public are looking for clean shell companies and there is nothing clean about VLDI.
VLDI currently has a market cap of $688.29 and 688,290,000 shares of common stock outstanding out of a possible 700,000,000. If Bruce has anything worth while to the benefit of the shareholders his first steps should be to get VLDI back to a fully reporting company. Obviously that is not happening. Also do not forget there are all those convertible preferred stocks, notes and bonds to content with and not enough common stock to effect their conversion and why would anyone want to convert!
Under the current circumstances VLDI could sell VP maybe for some money and take care of some or all the debt and preferred stock with nothing going to the common stock holders.
Things just keep getting worse for VLDI, but Bruce has a plan, but I would not count on him including the common holders.
I am sorry for both of you ! Just remember you can put lipstick on a pig but it is still a pig.
I did not reply to your question only because I believe Bruce has nothing to sell otherwise he would have signed a number of clients out of that 20+ pipeline of qualified potential clients from years ago.
I just feel sad for all those that hung onto his smoke and mirrors words and still believe VP has the potential to be a billion dollar product.
Simply put there is probably nothing to sell. The convertible preferred A shares get twice there money back in a liquidation and probably now have the ability to take over the company even if there is something to sell and the common stockholders get screwed.
Most people have stopped believing all the lies;
It has been over five years ago since the Ganthet deal announcement and nothing to show for it to this day
OTTAWA, Ontario, November 16, 2016 /PRNewswire/ --
"In today's mobile marketplace, most mobile messaging platforms have core common features with little real differentiation and marginal security. Even with encryption, there are significant gaps in security and privacy. Validian has provided Ganthet with significant competitive and time-to-market advantages and we are positioned to quickly develop apps with robust cyber security and a rich set of differentiated True Privacy™ focused features", stated Robert Nadon, President of Ganthet Mobile Corporation. "We look forward to unveiling our Ganthet Mobile messaging app as we launch to our marketplace."
Ottawa, May 19, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Validian Corporation (OTC: VLDI; “Validian” or the “Company”), a leading innovator in cyber security technology, today announced that it has incurred unforeseen delays in filing its Form 10K for 2019 due to COVID-19. Validian is working diligently to complete and file its Form 10K for 2019 as soon as possible and upon filing will be fully compliant again. Upon filing its Form 10K, Validian will then proceed to complete and file its Form 10Q for Q1 2020 as soon as possible thereafter
I believe all this means is that under certain conditions like having less than 300 holders of the stock VLDI ( 232 holders) will no longer be required to report. I wonder what it will take for VLDI to be totally delisted.
The classes of securities eligible for the suspension provided in paragraph (a) of this section are:
(1) Any class of securities, other than any class of asset-backed securities, held of record by:
(i) Fewer than 300 persons, or in the case of a bank; a savings and loan holding company, as such term is defined in section 10 of the Home Owners' Loan Act (12 U.S.C. 1461); or a bank holding company, as such term is defined in section 2 of the Bank Holding Company Act of 1956 (12 U.S.C. 1841), 1,200 persons; or
(ii) Fewer than 500 persons, where the total assets of the issuer have not exceeded $10 million on the last day of each of the issuer's three most recent fiscal years; and
(2) Any class or securities deregistered pursuant to section 12(d) of the Act if such class would not thereupon be deemed registered under section 12(g) of the Act or the rules thereunder.
What is Amazing is that it is going on 5 years this November since Rafael's glowing review of VP product when many thought VLDI had turn the corner and his review and Rafael 's client recommendations would bring in sales.
I keep asking why all those that tested the product throughout the years have not resulted in sales. All I get is silence. The silence along with VLDI moving onto the grey market is so deadening that most have jumped ship or are stuck now. Too many years and too many unanswered questions about sales that never materialize like the pipeline of over 20 qualified potential candidates in negotiations from August 2016:
OTTAWA, Ontario, August 16, 2016 /PRNewswire/ --
Validian Corp. (OTCQB: VLDI), a leading innovator in cyber-security technology, today issued another marketing and sales update. Over the past 30 days, the ongoing exchange of marketing and technical documentation,
discussions, meetings and demonstrations have doubled Validian's sales
pipeline. Now, Validian has scheduled the next round of discussions and
negotiations with senior decision makers of more than 20 qualified prospects, comprising large to major companies, during August, September and October
2016.
Bruce Benn, Chief Executive Officer of Validian, commented on the Company's
recent developments in marketing and sales, "We are very pleased to see the
steady increase in momentum as we continue our march towards sales, cash flow and revenue during 2016
"We are pleased with the progress of discussions and the level of interest of each large corporation in arranging a strategic partnership with us. These discussions and negotiations are continuing into November, with the structure of a strategic partnership now ranging from licensing to exclusive rights in a particular market sector to acquisition," commented Bruce Benn, Chief Executive Officer of Validian.
I occasionally go the VLDI website to see if anything has changed and I must say the site has vastly improved especially if you download the PDF files which are now dated January 2022. The puffery is great at making the product sound like a slam dunk to the novice without knowing anything about VLDI's past history. I would have to say the website paints a very attractive picture. They are missing one important ingredient and that is a credible management team with years of experience which is usually under the corporate heading to impress potential clients but since this is a shoe string one man operation I can understand why that is missing. Also missing are all those endorsement from those that tried the product. Too bad the picture is far from the reality and that is why they have eliminated all the past PR reports over the years which paint just the opposite picture of failures to succeed year after year.
One thing has always bothered me about VLDI and that has been the following statements direct from the website.
Our unique Application & Data Protection Software, ValidianProtect, is a powerful, flexible, scaleable and rapidly integrated cyber security middleware
Validian is ideal for protecting any and every market sector, and is seeking channel partners for each of the following:
Banking, Finance, Secure Payments, Credit Cards & Credit Reporting Agencies
Insurance
Mobile Communications & Social Media
E-Commerce
E-Health
Major Internet Companies
Automotive Connectivity
Power Grids & Infrastructure
Transportation & Courier
Government & Defense
Funny it seems like a lot more than 9 years wasted on this stock. I am glad when I got out the majority of my holdings at .10 and .095 many years ago followed by the remainder with the Ganthet sham announcement around .035.
I still think it is amazing that Rafael's review was over 4 years ago and VLDI has nothing on its books to show for it.
Never trust a penny stock CEO since he will only tell you what he thinks you want to hear.
They only need to be transparent about what they are trying to do and why they continue to fail at it. Like I said before why not get VLDI off the greys if they really have some earth shattering news that will benefit its shareholders, so they can take advantage of it when it happens.
Smoke and mirrors that is all that I see, even when trying to find solid facts to support the possibility that VLDI may ever succeed. The only info that gave me some consideration that I might be wrong about VLDI was Rafael's product review, too bad that is now over 4 years old without a single sale!
How time flies when you are willing to hang on forever!
They offered to tailor a report to my needs and I was willing to pay for it. When I stated my needs were only for all the information they had on VLDI they stated what I posted once before and it is not that difficult to understand. Also I suggested if anyone did not believe me to contact the marketing research company directly to verify their reply.
Response: Validian Corporation (VLDI) is out of the scope of our research. The report only focuses on companies with actual revenue.
Sorry for the inconvenience.
We are looking forward to your response and happy to serve your needs.
I'll tell you what, Bruce may not be much of a CEO or cybersecurity expert, but MAN he is one amazing con artist. He needs to write a book. He makes Bernie Madoff look like an amateur.
Too bad there are no hard facts too support that dream. Stop believing the smoke and mirrors and look at the facts and reality. VLDI is on the grey markets. If Bruce was to do anything worthwhile and positive it would be to change that and become a fully reporting company again. Until that happens if ever there is no reason to buy this stock if you are not in it. If you are in it your investment is currently worthless so there is no reason to sell.
I am done with this subject because my posts can be directly verified by the research company.
Once again I did not ask for anything for free. They asked me what I required and I told them. They offered to tailor the information to my specific needs. Then when I asked them for information on VLDI they specifically stated
According to your message, our analyst team has provided solutions to your requirements
Response: Validian Corporation (VLDI) is out of the scope of our research. The report only focuses on companies with actual revenue.
Sorry for the inconvenience.
We are looking forward to your response and happy to serve your needs.