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Form 10-Q for VITAL PRODUCTS, INC.
Italics and Highlights are my comments
At July 31, 2008, our sole business was to manufacture two products under the "On The Go" name: a padded training seat that helps toddlers with potty training, and a baby bath with a contoured shape to cradle babies 0-6 months old. As of July 31, 2008, these two products failed to produce enough revenue for us to cover our expenses. After evaluating the market for baby care products, we determined that the industry does not offer enough opportunity for a small company to create products that are affordable to develop, priced competitively for the consumer and that can be introduced into distribution channels without significant expense. As a result, we decided not to invest further funds developing our baby products line.
They paid over a million for this, they didn't even get the patent rights
But not to worry they used shares to pay for the whole kaboodle
In August 2008, we changed our business plan and began the process of developing a new line of business as a distributor of industrial packaging products. On September 17, 2008, we entered into a Letter of Intent to purchase Montreal-based Den Packaging Corporation. We believe that the addition of Den Packaging will undoubtedly strengthen our standing in the industrial packaging sector. We are currently in the process of renegotiating a final agreement to consummate the purchase of Den Packaging.
Gee, guess who owns Den Packaging, that's right Michael Levine
Consumate, you know how you consumate a marrage? It's gonna be pretty much the same. shares again
On October 7, 2008, we entered into a consulting agreement with DLW Partners of Toronto, an industrial packaging consulting firm specializing in market analysis, market and product strategies and the development of product line extensions. We believe that DLW will work closely with us to develop new products for existing markets and establish product line extensions to further our market share. Most importantly DLW has experience in the development of environmentally friendly products and we expect that DLW will further our initiative to develop environmentally acceptable products.
On October 21, 2008, we entered into a sales and marketing agreement with Eco Tech Development LLC of Nevada, a product research and development company specializing in eco-friendly industrial packaging applications, whereby we will market certain proprietary and patent-pending technologies that have recently been developed by Eco Tech, beginning with the marketing of a new bio-based foam packaging product.
On January 13, 2009, we formally announced that we had commenced production of Biofill(TM), our bio-based foam in place packaging product, and on January 26, 2009, we received our first purchase order. On January 30, 2009, we received a second purchase order for our Biofill(TM) product from a major North American manufacturer.
On February 19, 2009, we entered into an agreement to market a new paper packaging system. While we believe paper packaging has been a staple in the industrial packaging market for many years, our new system produces a craft paper product that simulates a moldable nest. We believe this product is priced competitively with other paper products and gives us the advantage of performance and range of use. Although our new line of business continues to develop, we believe that these purchase orders validate our product and reflect the industrial packaging industry's trend towards environmentally friendly product lines.
Man oh man all this business, they must have made a ton
We had revenues of $2,670 for the three months ended October 31, 2009, as compared to revenues of $0 for the three months ended October 31, 2008. The increase in revenues was primarily the result of our development of a new product line
If your revenues equal 0 can you really call them revenues?
As of October 31, 2009, we had total current assets of $29,065 and total current liabilities of $434,343, resulting in a working capital deficit of $405,278. At the end of the quarterly period ending October 31, 2009, we had cash of $321. Our cash flow from operating activities for the three months ended October 31, 2009 resulted in a deficit of $7,312. Our current cash balance and cash flow from operating activities will not be sufficient to fund our operations. Our cash flow from financing activities for the three months ended October 31, 2009 was $0. We believe we will need to raise capital of approximately $300,000 to $350,000 through either debt or equity instruments to fund our operations for the next 12 months. However, we may not be successful in raising the necessary capital to fund our operations. In addition to the amounts needed to fund our operations, we will need to generate an additional $500,000 to cover our current liabilities for the next 12 months.
Really, cash of $321 That sounds like a highschool kids made up password... three, two, one, GO
They need a projected $850,000 to run a business that (If you project out the current quarterly revenue ) could make $10,680
Where's that money gonna come from,oh yeah "debt or equity instruments" I wouldn't lend them money, We all know how easy it is to borrow these days so looks like the options are limited
Let's see $850,000 is how many shares, if we give them the benefit of the doubt and say .02 ( and it didn't make it there)
That's 42,500,000 shares. I wonder if selling that many shares would depress the price?
I'm just thinking out loud, but these are numbers from their filing.
I agree, I just don't think you'll like it
Oh well (sigh)
Might as well give it up Nayo, the damage is done.
Looks good in the account though
There is really little technical indication that signals a buy right now.
RSI recently dropped to 48.04% from above the critical level of 70. VTPI is no longer overbought and the stock appears to be weakining
stochastics also point to a bearish trend because the%K is below the %D It is neutral and neither overbought or oversold
The macd is bullish although it is flatining out
These technical indicators really don't mean crap if the company is in the process of diluting the float.
You really should wait. IMHO.
Another factor you should consider is the current overhead. How many people bought over the last few days and are now just waiting to recover. That will strongly inhibit the ability for this to increase the pps
I'm sure quite a few people where congratulating themselves this week. I don't think it will hold though.imho
Nothing new here, this has always been the pattern. Most probably they will max out the share count then vote in a reverse.
It's only 5000 shares. really not indicative of anything
This is not a pink sheet stock, this is a fully reporting stock listed on the otc.bb
I was thinking maybe a person should look at the filings before buying instead of after. I am not interested in buying. I'm not interested in bashing. I'm chatting, like the man said. I will answer any question I can about this company. I've been following them since before the original registration. Call it a research project. I've read every filing, I am using it as a learning experience. It dosen't make me bad. I'm not trying to trick anyone. I learned the hard way and I just enjoy debate. You wouldn't believe the story here. I'm still amazed.
Unless the company maxes out the authorized share count then does a reverse split (Which they have already done, I'm not making it up) and your 1000 shares turns into 100, or your 1000 shares turns into 1
And guess what, they won't pr that little fact until after they have filed the paperwork with the sec.
How am I bashing if I am only posting a link to the company sec filings? This stuff is the truth. I didn't make it up. Anything someone dosen't want to hear is bashing.
Help me out here. I'm kinda stupid. How did you determine this is the bottom. Tech indicators,hunch,ouija board
Dosen't it suck to read this stuff after you bought?
EMPLOYEES
As of November 13, 2009 we had two full time employees.
CUSTOMERS
We currently have few major customers. Two customers represent 100% of revenue and one customer represents 100% of the total outstanding accounts receivable. We are looking to expand our customer base in Canada and the United States. In general, the dealers and consumers of our products also sell and use other similar products, some of which compete with our products.
http://ih.advfn.com/p.php?pid=nmona&cb=1264010915&article=40360242&symbol=NB%5EVTPI
CALCULATION OF REGISTRATION FEE
Title of Amount Proposed Maximum Proposed Maximum Amount of
Securities to to be Offering Price Registered Aggregate Registration
be Registered Registered(1) per Share(2) Offering Price (1) Fee
-------------- ----------- --------------- -------------------- ------------
Common Stock,
$0.0001 par
value 65,000,000 $ 0.0065 $ 422,500 $ 23.58
Total
Registration
Fee 65,000,000 $ 0.0065 $ 422,500 $ 23.58
http://ih.advfn.com/p.php?pid=nmona&cb=1264010574&article=40591534&symbol=NB%5EVTPI
THE COMPANY HAS 2 EMPLOYEES
If history repeats itself they will issue the whole 100mil then do a reverse and start clock all over again.
I never told anyone to buy or not to buy. I never mislead anyone that is the difference. I never misquoted the previous prices. I am willing to discuss the facts with anyone on an even level. Thats the difference. I hope you do well because at least it seems like you have an open mimd
I know how to trade. I also know most of the people receiving email promotions don't. Then they visit a message board to attempt to get some info because they don't know filings and all they get is rah rah pumping. They become the victims.
This is such a shame. the pumpers are gone, the bagholders will remain.
This is the only board on Ihub that is worth anything. The other mods only use the boards for their own personal agendas.
You might have bought his shares
You might have bought his shares
You havent seen him posting all day have you, he's gone
This stock never traded at 7.50
I'm afraid I'm not really being allowed to post my thoughts. I have been following this company since before the original registration. Whatever happens I wish you luck.
Man oh Man
Thank you so much for the valuable advice but I might just wait to see if this takes a direction
Mr Kau also is investor relations for Metro One, the company that provided initial funding for Vital Products. That funding was a convertable financing arrangment using shares to pay off the initial purchase from On The Go Health care ( The original name of Metro One) and also subsequent capitol.
I don't want to go off topic however these two companies are impossible to sever from each other. On The Go went through multiple reverse splits both as On The Go and Metro One.
If a person is considering investing here a comprehensive research of both companies would be valuable as they are so interelated.
I see you mentioned Al Kau
I guess you can call a hired promotor your investor relations
http://www.stockupticks.com/profiles/4-15-02.html
I am the president of The Search For Value and also a founding director of the Southern California Investment Association, which presents twelve small cap companies every other month at their Capital Conference Forum. The attendees are Broker Dealers, Investment Bankers and accredited investors. In that capacity I see hundreds of companies and have a chance to evaluate them. I believe this, and over 25 years in the financial markets qualifies me to recognize a company with great potential.
For the latest news, merger updates and to answer any questions you might have, please call (888) 795-3166 (888) 795-3166 toll free and ask for Al Kau, president of Search For Value, Inc.
The phone number is the same as the press release
I never owned this stock, I never lost any money on it, I'm just interested in it if thats alright with everyone.
What happened after this press release dated Mon, 09 Feb 2009 03:53:00 EST
The trading symbol was VTLP at that time
Vital Products, Inc., a multi-channel innovator in the industrial packaging sector, announced that has begun collaborating with a $300 million international manufacturer to potentially design and develop a bio-based foam in place packaging system.
Vital Products Chief Executive Officer, Michael Levine stated, "The system is a pre-filled package containing our bio-based foam thus eliminating the use of a dispensing system. This technology offers an innovative and highly protective packaging with no equipment or start up costs."
Mr. Levine added, "Now that we have begun sales of our bio-based foam we are always looking for new markets to utilize our technology. This International Manufacturer employs over 1,700 people across 5 countries and will provide us with excellent distribution of our products."
A 1/100 reverse split in 4 months,almost no revenue. sales equaling 1 tenth expenses.
What happened to the 300 million dollar international company Mr Levine? You never mentioned their name that time either. This previous press release was promoted by multiple paid promotional sites. Look at what happened to the chart.
vtlp now vtpi
No one is thinking of the most recent 1 for 100 reverse split in
June of last year. Look at the chart since that occured.
Foam in a can for home improvement has existed for years. This is nothing new.
They released this fluff press so they have a market to sell the 65 million recently registered shares into.
Once the email promotors, traders, and the company themselves start selling those shares this will take the same path it has repeatedly taken after every previous press release
This is no different than any of the other fluff prs this company has released in the past. They do not name the company they are supposed to be working with. There is no mention of any contractual agreements. There are no firm commitments. This will generate a buying interest among the email recepients, they will sell shares into the demand, then it will drift back. They have to create a market for the shares they have for sale or they wont be able to keep this afloat to generate capitol. They have done it multiple times before. If you were lucky enough to have recently purchased shares, here's your chance. If you buy into this pr....bagholder.
You should read this part of the release first, it's a disclaimer.
"The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations"
IMHO it's gonna get quiet again for a long time.
I deserved the tone of your pm. I seemed uncharcteristic to me for you to still be involved in this stock is all. I guess I'm assuming too much. It has been my experience in the past for you to be less than gentle with other longterm holders of penny stocks. I was reviewing some previous holdings to see where they were and I guess my post was a bit of a drive by.
They are not barely making profits, they have never even come close to making a profit. Unless you are talking about the profits they have made by selling shares.
They also recently registered 65,000,000 shares as part of an employee compensation package
They have 2 employees
- Securities Registration: Employee Benefit Plan (S-8)
Date : 12/01/2009 @ 12:19PM
Source : Edgar (US Regulatory)
Stock : (VTPI)
Quote : 0.0066 -0.0003 (-4.35%) @ 8:18AM
Total
Registration
Fee 65,000,000 $ 0.0065 $ 422,500 $ 23.58
Return on Assets (ROA) -1109.6 % (Wow)
Sales $ 2,670 $ -
Cost of sales 21,616 sales cost 10 times
As of December 3, 2009, the Issuer had 30,455,187 shares of common stock issued and outstanding, par value $0.0001 per share.
It looks like they are getting closer to that value every day
Still here Flat, what about that koolaid thing?