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Especially as VTNL stock can be expected to tank in the foreseeable future, with so much convertible debt on the books, and a serious credibility problem for the CEO.
By-the-by, the PR where he "projects" $1.5M of revenues for Q2 seems to have been deleted....
He promised $1.5 million in sales, he delivered $2000....
Of course, his announced plan to buy back VTNL shares, and the plan to pay off some debt ,
just flew off the window.
And his plan to hire "200 reps" to increase sales looks like just another fib, to me.
VTNL CEO posted this Shareholders' Letter at the end of May:
https://www.otcmarkets.com/stock/VTNL/news/story?e&id=1093732
$2,046.
Loss from Operations: ($254,290)
On the financial side, they made $405,673 on "Debt Settlement6" but lost ($392,901) on Loss on Derivative Liabilities Valuation"
They had 2,653,441,892 shares outstanding as of August 8, 2018; why not give a more recent date ?
VTNL has borrowed $711,250 so far this year, for $3,014 of sales...
...but they owe $882,333 on that debt, due to the nice OIDs. Plus interest.
Monday morning would be my guess.
Last Q was filed early.
The NT 10-Q gives a 5 calendar days extension for filing the 10-Q.
This is perfectly normal.
NT 10-Q
VTNL sold about $1000 on-line last quarter;
strangely enough none of the much-touted Purchase Orders were delivered that Q.
Buy on Rumors ..Sell on News
And it is this very week that VTNL will post its financials, for which it has already come up with 2 excuses.
In pennystockdom, most PRed "Purchase Orders" are just bogus.
There's a tweet, "More disclosures coming".
What disclosures ? Bankruptcy ?
But the CEO can't pay the debt with the revenues,
firstly, because there are almost no revenue (his excuse are the California fires),
but mostly because the Promissory Notes can only be "prepaid" within the first 180 days, with a 115%-140% "penalty".
HPNN: Don't touch even with a 36,000 miles pole.
then maybe we can see new financials making millions of dollars in revenue
VTNL has already provided excuses for their upcoming miserable failure in Q2. That means Q2 will be bad. Real bad. A complete farce.
What will be interesting will be how much new debt they have piled it, and how many billion shares they issued lately.
but CEO must stop Dilution
He cannot. He has signed loan agreements, and when the lenders ask for debt conversion, he must allow the TA to release the shares. The contract also obligated him to reserve 10X the required number of shares at the initial price.
That explains the 50 billion shares A/S.
and be straight forward
He has known for more than a month that Q2 would be dismal failure. Hid didn't tell you.
show us real sales purchases
I personally expect the $3M + $6M supply contract to the soap company to be bogus.
If that soap company doesn't start advertising pet food on its website within weeks, it will confirm my suspicions.
and the pps will rise if you have faith
Nope, the$700K+ of floorless convertible toxic debt guarantees that the current shareholders will be diluted to oblivion, no matter how well the company performs.
If the company performs poorly, as Q2 results will show again, it will be a rough ride.
A death spiral.
So far, VTNL sold $968 with of pet food. Sales are sales.
I don't see her ownership in Royal Capital listed ??
My understanding of this company, based on their PR track record so far, is that any Big News will be followed by a massive dump-a-thon, and a few months later their Big News will be revealed to be pure fantasy, well above and beyond the call of the Forward-Looking Statement.
Take for example the "we will hire 200 reps" VTNL PR:
Vet Online Supply To Hire 200 Employees with $265M Projected in Global Sales
https://www.otcmarkets.com/stock/VTNL/news/story?e&id=1104870
The board always heats up when the toxic lenders are actively dumping shares.
Strangely enough that's also when the company's CEO makes yuge predictions that never pan out.
Correct, SideDraft, hemp oil can be bought by the gallon on Amazon,
but Hop-On sells it by the milligram.
Because it is "hemp oil CO2 extracted from hemp oil", go figure.
The Q2 financials, in 2 weeks.
Hop-On attempted to sell its CBD oil on Amazon, which Amazon refused (the Amazon page was blocked for a week).
Hop-On then relabeled the exact same bottles as "Hemp Oil', and Amazon was pleased.
https://www.amazon.com/Cedar-Hemp-Oil-100mg-Almond/dp/B07B7QQM1J
So I maintain that Hemp Oil must be somewhat legit in the US of A.
Pity Hop-On lacks the California manufacturing license required to make and bottle their product.
Hop-On HPNN once tweeted that they were receiving their hemp oil from Spain, legally.
And then they were reselling it at wildly inflated prices:
$54.99 for a 100mg bottle with an eyedropper.
Flavors available: Natural, Coconut, Butterscotch, Ginger, Almond & Berry
https://cdn.shopify.com/s/files/1/0005/6331/4751/products/Almond_1up_100mg_540x.jpg
https://naturallycedar.com/products/cedar-organic-cbd-oil-100mg
Yes. The SEC attempted to make LBC Bioscience website comply with FDA regulations before OKaying the S-1.
It didn't last.
And LBC's IPO seems to have gone nowhere. Their initial NT 10-Q is 8 months old now.
Their last 8-K, they had switched their audit firm.
In its S1 negotiations with the SEC, VTNL's supplier LBC Bioscience, promised to the SEC that they would make no medical claim about their hemp oils, and would allow no testimonials on their website.
They got their S-1. Then they broke their promise.
Mr PM is requested on the FDA phone:
https://www.fda.gov/newsevents/newsroom/pressannouncements/ucm611047.htm
Yes, hemp oil made from commercial hemp is very low in THC. When the THC is lower than 0.003 % (?), it is not considered a controlled substance, even if in contains Cannabidiols (CBD).
The status of oils enriched in CBD is still uncertain, at least to me and to Amazon and to the US Post.
Their market prep must be awesome. I wonder if completely missing their Q2 revenues targets will adversely affect their plan to repay the convertible debt before it was converted into Billions of dilutive VTNL shares.
Their stock repurchase program is still up in the air. They will repurchase between $200k and $0 of shares. Peoples must mail them their shares certificates up to September 18, 2018, and the company will announce how many of those shares they feel like buying back on March 18, 2019...
https://www.otcmarkets.com/filing/html?id=12643682&guid=n41EU6tXsAUzl3h
Of course, without the "projected" revenues, the company will be unable to pay its debt with cash, so the debt will be converted into billions of VTNL shares, what a surprise.
Oh, and forget about the shares buy-back too.
VTNL might not have shipped $1.5 million worth of pot-laced dog food in Q2 after all.
In an upbeat Press Release, 2 weeks before they issue their Q2 financials, VTNL's CEO mentions:
https://www.otcmarkets.com/stock/VTNL/news/story?e&id=1143210
"Florida Bank of Fraud" seems wrong, ought to be "The Bancorp Bank".
And they're a Visa prepaid card, anyhow.
Yep, they missed their self-imposed Q2 target, big time.
Vet Online Supply Provides Update on Product Distribution Projects
San Francisco, Aug. 03, 2018 (GLOBE NEWSWIRE) -- Vet Online Supply, Inc. (OTC PINK:VTNL) (“Vet Online Supply” or the “Company”), an innovative holistic hemp and cannabis pet products corporation, is pleased to provide an update on their high yielding distribution programs (the “Project”).
The 2018 project for distribution of our hemp and cannabis based pet products on the west coast with a major distribution partner for the dispensary market is now well underway. Although field work at the project started later than expected due to delays in inventory production and the California fire season, our team was able to complete two and a half months of market prep in just four weeks. As a result, approximately $2M of our brand pet products will be distributed to over 500 dispensaries along the west coast from Los Angeles to Seattle. The products include our CBD Treats, CBD Drops, and CBD Oral Sprays as advertised on our website.
We have been hiring manufacturing sales reps during the past 30 days, and are now targeting large retailers such as Petco, PetSmart, Trader Joes, Amazon, Alibaba, Chewy and various large pharmaceutical distributors such as Cardinal Health, Invacare and McKesson. Our team has scheduled meetings in Europe during November 2018 to complete building the sales platform for the EU.
With the distribution implementation complete, our team has now turned their focus to completing the remaining hiring of the manufacturing sales reps and design of 2 new products for the pharma–market. The project will result in more than 200 manufacturing sales reps world- wide, contracts with the dispensary markets and large retail market, 4 Pet CBD brand products and 2 pharmaceutical products with international and domestic sales projected at more than $250M.
https://www.otcmarkets.com/stock/VTNL/news/story?e&id=1143210
Yes, that's what I'm suggesting.
I'm sure Naturally CEDAR would be flagged as a Related Entity owned by the CEO, just like USAcig and Re-Medical weren't disclosed.
In any case, HPNN is not filing financials anymore. It's not like the hapless shareholders worry about losing money.
The Cuentas card is a NextCala card. The Cuentas.com "Get a Card" button leads to the NextCala website.
https://www.nextcala.com/fees.html
There are plenty of fees:
$5.95 Card activation fee
$3.95 Monthly fee
$1.95 fee for withdrawals
$1.00 for a balance inquiry
$3.95 for reloading cash into your card
$9.95 fee for closing your account.
Not sure if the Cuentas prepaid card is already launched, or still to be launched Real Soon Now.
Not sure if it is basically the same as the NextCala prepaid card.
The Next Cala card seems to be an "affinity" Visa card.
I added it.