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SBV is just another scam "company" like VCSY. It's funny to read some of you guys still hyping the "technology" that will never amount to anything. I hope I get a chance to sell my shares to some other sucker soon.
Wow, seriously? How long have you followed this poor excuse of a "company"? You still believe you're going to get rich off of a couple of bogus patents?
The patents are garbage, imo. Most of them are expired or expiring soon. This clown show has gone on for over two decades. I think I first started reading about VCSY in around 2008??
I think you're right, and your post is pretty funny.
Wade hasn't been "convicted" of anything because there are no criminal charges. He'll likely lose the civil suit and have to pay. Nobody was/is going after vcsy patents because they're worthless, as you can tell by two decades of trying to scam companies in patent infringement lawsuits. The FO patent was total garbage, and so are all of the other patents. Nobody tried to bankrupt VCSY, except Wade.
It's unlikely you'll see any criminal indictments of Wade. You've been saying you were going to start a "class action" against mirror for over a decade and a half and nothing has transpired. These are all civil proceedings, and if there was any criminal activity he would have been charged by now. Spending company money in strip bars isn't a criminal act as far as I know. I seriously doubt any of this will recover anything for shareholders, and I doubt the stock ever trades again. I'm just waiting til the sorry end of this mess.
Yeah I remember how Portuno and the gang praised Wade and protected him from any criticism. They said he was a "genius". Now we see that neither Wade nor his supporters were very smart.
There is no criminal case against Wade that I've seen. These lawsuits are all civil matters, with no criminal charges like you claim, so Wade won't be handcuffed and thrown in jail like you keep claiming will happen.
All well and good, except VCSY hasn't filed bankruptcy. It's just delisted and the stock is still outstanding. Shareholders still have ownership in the company. Even if you write it off, and prove to the IRS that it's not trading, you still own the stock if you can't sell it. Then what if it starts trading again? I asked this question earlier. I would assume you would still own it, and if you ever sold it your cost basis would be zero since you wrote it off earlier.
if Wade still has 80M shares he will likely have to forfeit them but they're worthless anyhow, so you can't pay the IRS with worthless shares. None of this is a criminal proceeding so there will be no jail time, unless someone actually files criminal charges, so stop with the nonsense. The deals Wade made are legal because he was the CEO at the time he made them. You have been screaming "class action" for years but there is no action. I don't know why there's such a focus on suing Wade, and not on getting the company's business going again.....if there is anything.
It's my understanding, after doing some research on the matter, that you can't take a tax writeoff on VCSY because the stock still has value and you need to sell it in order to write off the loss. How can you sell it when it's not trading? Your brokerage probably won't give you a net zero sale on it, but maybe they will. I could use the tax writeoff this year so I hope they get this shid trading again or someone offers to buy my shares.
Nothing is going to happen in "7 days" like some seem to think. What's going to change? The business, if you can call it that, still has no assets except Now Solutions. Where does that money go? Asking for a friend.
Our shares are "safe" and worthless. They can still cancel them by declaring bankruptcy if they want to. But for now they're in limbo. And nothing will happen in 11 days, just as nothing much happened in the past 2 years since delisting.
Portuno was never right about anything. He said Wade was a genius and defended him tooth and nail. He said the patents were worth "billions". He claimed the FO patent worked and he saw a working model. Sorry, you people who put Portuno on a pedestal and praised him like a god obviously didn't understand technology. You see now how "right" Portuno was.
Frankly, the patents are all garbage. The FO patent was bogus from the get-go, despite what the pumpers said. Obviously 744 is worthless as nobody has licensed it since the patent troll lawsuits were settled. There is nothing of value that I see. VCSY never had anything except Now Solutions to pay the rent.
So you really believe it will ever trade again? I have serious doubts, based on what's happened the past 2 years since delisting. They got investors to pony up a bunch of money for the audit.....we still have no audit. That's what they claim is holding up re-listing. Now Solutions is still supposedly running and last I knew it had $4M in revenue. Where's that going? And once the audit is complete, how long to get re-listed? Finally, once listed, what are the assets that make the 2B shares worth anything? The patents are worthless. None of the 12 "subsidiaries" besides NS brings in any money, and a few were even money sinks. I see no value here other than being able to sell stock to the next sucker who gets conned into this scam.
Any agreements made by VCSY like 744 lawsuit settlements are legal and can't be revoked. And if you think the remaining patents are worth anything you're kidding yourself. The patents are old, and if anyone wanted to license them they would have come knocking. The fiber optic patent was always a joke. I really don't know what VCSY has that's worth anything. Ploinks is worthless. Now Solutions is the only money-producing entity of the "dozens" of "subsidiaries" Wade created to give the illusion of a valuable company.
I agree. I think they owe shareholders at least quarterly updates, even if it's "nothing has changed". We need to know they're still working to bring the company back from the dead. They haven't updated the website FAQ since May. There has to be money coming in from Now Solutions, so why is the audit taking so long?
Pretty sure "big news" was supposed to come over a decade ago too. Even is VCSY ever starts trading again, there is nothing VCSY has that's worth much of anything. I'm just hoping a bigger fool buys my shares.
Vertical has absolutely nothing that Elon Musk wants or needs. There was all sorts of hype about the world coming to a stop if they didn't license VCSY IP a decade ago. The world is running just fine and nobody even mentions VCSY. I don't see one thing that VCSY has that anyone wants or needs, except maybe Now Solutions' Empath, which is two decades old now.
Private or not, we're still shareholders of the company until they either declare bankruptcy or just cease operations. They haven't communicated anything since May as far as I can tell. At least they're putting some things on the website.
As I recall, Now Solutions was bringing in around $4M in revenue when VCSY was delisted. I assume it's still an operating business. Where is that money going now? Why is it taking so long to get an audit done? They said last December 2nd that the stock could be re-listed after an audit.
"Settlement with the SEC. Under severe penalty which would have deregistered VCSY with the SEC and prevented VCSY from ever trading again, we filed the necessary interim SEC filings that were delinquent to keep VCSY trading through 2020. At the same time, the VCSY BOD/team utilized external legal counsel to negotiate settlement with the SEC that resulted in VCSY having the ability to return to trading once the necessary audits are in place by an outside auditor.
This junk has been delisted over two years now. At this point I can't even sell. I don't see a way to write it off because I can't sell. If this scam ever trades again I'll be out in a nano-second. VCSY has nothing worth anything. The "patents" are as bogus as a $3 bill. Ploinks is a joke. SBV is just another VCSY.
"Putting 2 and 2 together" and "connecting the dots" is how we all got trapped into this scam. I've seen so much "connect the dots" nonsense about VCSY posted over the years that I got sick of it. The lies and deceit were worse than I've ever seen on any other stock boards. Lesson learned.
Someone apparently fell for Portuno's technobabble and hired him. He's good at that, but that's about all. SBV will never be anything....just like VCSY. They'll suck up some government grants to feed the scam and will disappear in a few years.
I have a question for you guys. Since VCSY stock quit trading it's basically worthless. However, it's still showing up in my brokerage accounts. Have any of you taken a tax write-off for the loss? Do you know what happens if you take the tax loss, and it starts trading again? I put way too much into this junk than I should have and the loss would help me on taxes this year. Thanks.
Jeezus, I had to turn off that gibberish generator to clean up this board and make it readable....wags.... What a bunch of irrelevant technobabble nonsense....wags. How do you guys put up with that here....wags? LOL.
Thanks for the reply k9. I don't know where to find information about what's going on with VCSY but I understand there's some new management working on things based on what's posted here. What makes you think it will trade again? I stupidly bought a lot of shares before the MSFT lawsuit thinking it would run the stock up significantly. Unfortunately the miniscule settlement did nothing but enrich Wade and his cronies.
doc, can you explain what all that gibberish you posted is about and how it affects VCSY? What's the "wags" stuff you keep repeating?
Hi, I bought into this stock over a decade ago and it got delisted. I've been reading this board for a while and just registered. There's a lot of useless garbage posted here but some relevant stuff too. Anyone think VCSY will ever trade again? Anyone want to buy my shares? LOL