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I think this is a very bad idea as you will jeopardize the up-listing of the stock, which could, if not interfered with, significantly increase its value. It is not just you that is involved. Right now, I believe that value is being potentially diminished as some shareholders fill up this board with sarcasm and negative speculations about motivations and behavior. Further, I think the enthusiasm at trading sub-penny by shareholders who know the need for .01 minimums for 30 days before the application and then until the application is accepted- is rather curious.
There are a lot of problems with what has happened that are real. Very serious ones. I was ready to address them in a letter from a number of shareholders, but the new PR compelled me to wait and see. I now am writing a letter from myself alone, which I believe could be effective. This is based somewhat on new issues that have emerged in my awareness since that last PR.
I have some serious things to write about. But I have to think about some elements I am not sure of. My letter should go out soon.
No. I did not send it because around that time the new press release came out- to some degree softening my concern. I did post an explanation as why i didn't send it. The lack of information on the S-1 filing was my major stimulant at the time.
I do not think a complaint like that will help anything- since the next stages, when they happen, are critical to most of us.
I am thinking of writing a personal letter that will list the issues we are concerned about. There are additional issues. I have reason to think it will be read. Any further discussion of those details will have to be private- because I do not want to think aloud publicly. You or anyone else can send me a private message.
From Yahoo Finance's release
https://finance.yahoo.com/news/vita-mobile-systems-issues-otcqb-100000483.html?.tsrc=rss
This is a quote in the release from Sean, but a very specific one. The release is also posted in his website.
"Everything is coming together. In order to bring these initiatives to completion, we negotiated a small promissory note from our partner Tangiers Global for $42,000, convertible at $0.01 with a 10% fixed interest and a 7 month term. We appreciate Tangiers' confidence and showing their faith in our direction through this small promissory note while still holding all prior notes. Even though this process has taken longer than expected, rest assured we have also been using this time wisely to develop some new tools and expand our product offerings to capture more market opportunities, especially with our Artificial Intelligence (AI) content system."
I quite agree. The behavior to me is ridiculous and inexplicable. But that harsh reality probably has a different explanation than complete indifference because that doesn't make sense either. I am in the company of those like you who are truly concerned about the way things are going.
Yes, I believe that they want the stock to be up-listed because that greatly affects their short term and long term profitability. I don't think they want to wait months while the stock is pilloried in the public arena.
Do you think the fact that they got extra help from their major investor for this auditing and up-listing stage and thanked them for it- throws some doubt on the reality of them wanting a long delay, which surely would effect their credibility with their investor and everyone else?
Don't you think the performance of this stock over such a long period of time might cast a shadow over their up-listing? And do you really think management intends, by doing nothing, to wait that long to protect themselves from up-iisting?
I take it that "these guys" you referring to are management. If so, you are saying that they don't mind if the up-listing is delayed. If so, I would like you to explain in detail why you think that?
They have to do it thirty days in a row before submitting the application and then keep it at least ,01 until it is approved. We don't know how close the audit is to being finished- but all these closing bids under .01 will possibly delay the uplisting. And getting to the next listing is a key to raising the status and value of the stock.
They have to do it thirty days in a row before submitting the application and then keep it at least ,01 until it is approved. We don't know how close the audit is to being finished- but all these closing bids under .01 will possibly delay the uplisting. And getting to the next listing is a key to raising the status and value of the stock.
The stock has to be at least .01 for 30 days before the application is submitted and then stay at least at .01 until the application is accepted.
CONDITIONS REVOLVING AROUND MINIMUM .01 CLOSING PRICE
The following is from this link:
https://www.otcmarkets.com/files/otcqb_standards.pdf
3) Bid Price of $0.01. Have proprietary priced quotations published by a Market Maker in OTC
Link ATS with a closing bid price of at least $0.01 a) for each of the 30 calendar days
immediately preceding the Company’s application for OTCQB and b) as of the date OTC
Markets Group approves its application to join the OTCQB market.
My interpretation of this is that we don't know when the audit will be finished and the company will make its official application. So if the stock price goes into sub-penny at any time now, we risk prolonging the uplisting. And that goes after the submission until acceptance.
This is a public board. Although there are unsettled issues truly needed to be settled, I think negative comments on this Board- particularly those fueled by speculation and sarcasm should be completely stopped. This is not against IHUB policy per se. Because we can talk about management in a negative way.
But is it really good for us to do that now? Because in looking at the Board, even past the last PR, the beat still goes on.
CONDITIONS REVOLVING AROUND MINIMUM .01 CLOSING PRICE
The following is from this link:
https://www.otcmarkets.com/files/otcqb_standards.pdf
3) Bid Price of $0.01. Have proprietary priced quotations published by a Market Maker in OTC
Link ATS with a closing bid price of at least $0.01 a) for each of the 30 calendar days
immediately preceding the Company’s application for OTCQB and b) as of the date OTC
Markets Group approves its application to join the OTCQB market.
My interpretation of this is that we don't know when the audit will be finished and the company will make its official application. So if the stock price goes into sub-penny at any time now, we risk prolonging the uplisting. And that goes after the submission until acceptance.
This is a public board. Although there are unsettled issues truly needed to be settled, I think negative comments on this Board- particularly those fueled by speculation and sarcasm should be completely stopped. This is not against IHUB policy per se. Because we can talk about management in a negative way.
But is it really good for us to do that now? Because in looking at the Board, even past the last PR, the beat still goes on.
Sounds about right
Does anyone knowfor if there is a quiet time when a pink sheet registers to uplist to OTCQB and, if so, what are the conditions and timeline regarding the quiet time?
I don't think it's exactly the same, Jag. It does show serious moves forward to uplist. That alone must mean something. You disagree?
No. This needs to be reconsidered. It is out of date, for one thing. For another, it seems to me better to deal with all this after things have settled out. This doesn't seem to be just kicking the can but something real.
However, I am concerned about the lack of mention of the App. However, as I just posted recently, whatever they did- might be shrewd move. But the lack of transparency has been very bad.
I value your thoughts.
I did. I was on my way to the gym when I saw this info. I have thought for a long time that the emphasis might be changing and possibly downsize the importance or even actuality of the App and its testing. This was speculative and I didn't talk about it. One way or another, I don't know if it's a bad or good decision- perhaps very good to switch the emphasis. All I know is the effect of lack of transparency and regular communication of something - has been unnerving.
That’s fine. I join you with being very disillusioned with this company.
The letter is going out tomorrow or Friday unless I see something happening that we need to discuss. I would like to have gotten some more names. Any comments?
Thanks. I know exactly how you felt and how you feel now. But I think taking reasonable action instead of complaining feels better. I’d rather feel empowered and feel like a victim. So it’s a slightly different ball game than it was a few weeks ago
Thanks, BamaJax. I am really hoping I can get some more people. I can't blame them for not being around much.
SHAREHOLDER LETTER
I am going to ask everyone who agreed to add their names to this letter to share it with 3 shareholders not on the list.
https://mailchi.mp/afeb39932fd5/letter
SHAREHOLDER LETTER
I am going to ask everyone who agreed to add their names to this letter to Share it with 3 shareholders not on the list.
https://mailchi.mp/afeb39932fd5/letter
SHAREHOLDER LETTER: WE HAVE 13 SO FAR- LET’S MOVE IT UP TO 30 BY THE END OF THE WEEKEND. TO DO THIS. PLEASE CONTACT ME TO PUT YOU ON THIS LIST AND SEND LETTER TO THREE SHAREHOLDERS WHO HAVE NOT SIGNED IT= OTHERWISE THEY MIGHT MISS IT WHEN IT IS POSTED. IF WE CAN GET MORE SIGNATORIES- WUNDERBAR!!!
IF YOU ARE ALREADY ON THIS LIST, PLEASE HELP AS WELL AND SEND THIS LETTER TO THREE SHAREHOLDERS NOT ON THIS LIST
HOW EXACTLY TO DO THIS:
PLEASE SEND ME YOUR NAME (USER NAME ON IHUB) AND YOUR LIST OF CONCERNS TO BE ADDED TO THE LETTER AND LIST POSTED BELOW. START YOUR MESSAGE WITH THE WORD "LIST:” SEND YOUR CONCERNS AND NAME IN A SEPARATE MESSAGE. DO NOT SEND THIS EMAIL BACK WITH YOUR INFORMATION BECAUSE IT WILL MAKE THE EDITING MORE COMPLEX.
Note: Concerns need to be non-speculative, on-defamatory, but ruthlessly accurate All we want
is a change of attitude and communication by management To show we are still on Track with a
company that originally showed us so much promise.
LATEST UPDATE ON SHAREHOLDER LETTER.
ORIGINALLY SUBMITTED Post # of 32973
SHAREHOLDER LETTER
We, the following shareholders in Vita Mobile Systems, are responding to yet one more time the stock has dived to sub-penny. This unfortunate event transpired in the absence of any timely notification about the progress of the uplisting and the long-overdue explanations for multiple announcements with specific timelines that never came to pass. This lack of transparency and candor is as unacceptable as the innumerable attempts to contact you that were unanswered. Whereas we all respect the promise of Vita Mobile Systems, the fact is many of us- to the tune collectively of tens of thousands of dollars- have seen the value of the stock shrink to practically nothing coupled with the obvious lack of continuity of communication that was also promised in addition to the list placed below.
Hopefully, the uplisting will go as planned- but, nevertheless, this obvious failure to communicate on a regular basis must not go on. Also, we want explanations and follow-up on the items on the following list gathered by all of us. We are making this request respectfully with the hope that your timely response will also be respectful- in the speed, quality and completeness of your reply.
LIST OF CONCERNS
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER
START YOUR MESSAGE WITH THE WORD "LIST: IN RESPONSE TO THE FOLLOWING:
PLEASE PUT YOUR IHUB USER NAME ON THE BOTTOM OF THE LIST. I WILL BE EDITING THE LISTS ESPECIALLY WHEN THERE ARE DUPLICATES OR OUT OF
PLACE IN A COMMUNICATION THAT NEEDS TO BE RESPECTFUL.
YOUR USER NAME WILL ONLY BE USED ON THE BOTTOM OF THE SHAREHOLDER LETTER AND NOT WITH YOUR SPECIFIC CONCERN. I WOULD LIKE TO HAVE THAT NAME WITH YOUR SPECIFIC LIST SO I CAN CONTACT YOU IF THERE IS SOMETHING THAT ISN;T CLEAR.
LIST OF CONCERNS
HERE IS A SEQUENCE OF TWEETS THAT EXHIBIT PART OF OUR CONCERNS:
WHAT HAPPENED TO THE CEASE TRADE ORDER THAT WAS SUPPOSED TO BE RESOLVED EARLIER? ON MARCH 1, 2018, YOU TWEETED…
We are aware of the prior management team’s correspondence with the BCSC. We don’t anticipate it having an effect on our stock. We should have it resolved shortly.”
HERE WAS A PROMISING TWEET:
Our team has been working diligently and we will have an update for everyone later this week! Stay tuned. $VMSI
12:01 PM - 6 Mar 2018
THE WEEK PASSED. ON MARCH 21, THERE WAS A COMICAL VIDEO OF PUTTING ASIDE THE PING-PONG TABLE. BUT THE NEXT DAY, ALL WE GOT WAS ANOTHER TIMELINE PROMISE:
We will have an update with more details regarding Beta very soon! $VMSI
3:13 PM - 22 Mar 2018
THE NEXT TWEET ON APRIL 20TH, ALMOST A MONTH LATER, CAME, SAYING:
We are positively overwhelmed with the amount of sign ups for public beta testing just within this first week! We thrive off of everyone’s excitement and it just validates all of our team’s continued hard work at $VMSI
ON MAY 4TH, WE WERE PROVIDED WITH ANOTHER TWEET.
Stay tuned for a letter to shareholders from the CEO next week. Will include update on the exciting progress and direction of $VMS
ON MAY 22, 18 DAYS LATER WE GOT THE CEO LETTER.
We appreciate all inquiries & questions regarding our company timelines. Per the latest shareholder letter, we are currently working on accomplishing certain strategies that should bring both short term and long term value to $VMSI.
AN EXPLANATION WOULD BE APPRECIATED ABOUT THE EXECUTION OF THE STRATEGY "THAT SHOULD BRING SHORT TERM AND LONG-TERM VALUE" THAT NEVER HAPPENED. DID MANAGEMENT EVER CONCEPTUALIZE A STRATEGY AND IF SO, WHY DID IT FAIL?
IN THE LETTER ITS WAS SAID:
We are all very excited about the future of Vita Mobile Systems, and we look forward to providing regular updates on both our first app VITA as well and our growing content library, proprietary algorithms and any acquisition opportunities. I encourage anyone interested in learning more about Vita Mobile Systems and the VITA app to visit our website at www.vitamobilesystems.com or to reach out to our IR group at ir@vitamobilesystems.com or 949-864-6902.
WHY DID ALL REAL INFORMATION ABOUT THE APP DISAPPEAR? STATUS OF THE BETA TEST (DID IT EVER HAPPEN, IS IT ONGOING, OR IS IT COMPLETED)? NOT ONE SHAREHOLDER OR ANY OF HIS OR HER ASSOCIATES HAS SEEN IT. NOR WERE REQUESTS FOR SHAREHOLDERS SEEING THE BETA EVER RESPONDED TO. SIGN UP WAS 4/17/18. ONLY RECENTLY WAS THE REQUEST FOR BETA TESTERS TAKEN DOWN ON THE WEBSITE,
ON JUNE 8TH, THERE WAS A FAMOUS TWEET, LONG-REMEMBERED ON THE MESSAGE BOARD.WHY? BECAUSE NO EXPLANATION, THOUGH ASKED FOR MANY TIMES, NEVER CAME. ON JULY 2ND, MORE EXCITING NEWS CAME IN A TWEET;
$VMSI is looking forward to being featured on @NewsWatchTV, whose morning show on @AMC_TV highlights recent innovations and the latest tech trends!
IS THE NEWSWATCH FEATURE STILL ON THE TABLE? IT WAS PROMISED A LONG TIME AGO AND NEVER APPARENTLY ADDED OR RETRACTED?
THREE DAYS LATER WE WERE TOLD ABOUT A FORTHCOMING PRESS RELEASE WITH A BETA TESTING PROGRESS UPDATE:
We are coordinating a $VMSI Press Release that will give updates & timeline on the progress of Beta testing. We are sticking to our current PR schedule and a beta testing progress update will appear after the next planned PR.
NOW, ON JULY 13, WE HEARD ANOTHER PROMISE ABOUT THE COMING PRESS RELEASE:
We have our press releases planned but are just finishing a couple of clerical details prior to our next release. Per my last tweet, we will have a progress update on beta following our next $VMSI announcement.
BUT ON JULY 26TH, WE GOT ANOTHER TWEET. THE EASY JOB OF FINISHING UP THE PRESS RELEASE WITH A FEW CLERICAL DETAILS DIDN’T SEEM TO HAPPEN;
Our next $VMSI Press Releases will be held until we are fully completed with what we are about to announce. We receive daily emails asking for updates and this is all we are able to convey at this time. We cannot announce this before it is done.
BUT THEN ON AUGUST 9TH CAME ANOTHER TWEET PROPOSING TO CANCEL OUT ANY REAL COMMUNICATION BETWEEN THE COMPANY AND SHOULDERS
“We aren’t able to respond with any direct or insider information to any solicitation requests, messages or emails. We will deliver new updates when we are able to announce it publicly. Our team is still working towards our company goals mentioned in previous announcements.”
WHY DID YOU CUT THE SHAREHOLDERS OUT OF THE PROCESS, WHICH INCLUDED SO MANY ITEMS THAT WERE NOW CLOSED FOR INQUIRY?
FLASH FORWARD TO OCTOBER 2ND WITH THE TWEET OF SOMEONE HOLDING A PHONE WITH THE TWEET:
Having lunch with my best friend VITA $VMSI
THIS THRILLED MANY SHAREHOLDERS UNTIL SOME REALIZED THAT THIS PHOTO DIDN’T PROVE ANYTHING ABOUT THE REALITY OF THE APP. AFTER THAT THERE WERE A FEW WELCOME TWEETS ABOUT THE TANGIER FINANCING. ON JANUARY 10, 2019 THERE WAS ANOTHER TIMELINE TWEET:
As an update, we're bringing the audit, uplisting & filing of our S1 across the finish line. We'll release various updates regarding our recent Board of Directors meeting, new developments & potential strategies & status of VITA the app. Excited for a successful 2019! $VMSI
THEN ON FEBRUARY 5TH, THERE WAS ANOTHER TWEET ABOUT THE S1FILING:
Vita Mobile Systems? @VitaMobileSys Feb 5
As an update, we just received the second draft of our S-1 filing. We are currently reviewing with our legal team and looking forward to it’s completion. $VMSI
THEN ON MARCH 21
Company initiatives are progressing well and we will be putting out a Press Release with an update next week. $VMSI
11:35 AM - 21 Mar 2019
ON MARCH 27TH, A PRESS RELEASE CAME OUT, ANNOUNCING COMPANY IN FINAL STEPS TO COMPLETE AUDIT AND REGISTRATION STATEMENT ON FORM S-1 FOR OTCQB UPLISTING. IT ALSO ANNOUNCED THE PURCHASE OF SHARES BY THE CHAIRMAN AND CEO, MARTIN WADE. THIS SEEMED LIKE GOOD NEWS IN ADDITION TO FUNDING BY TANGIERS. THEN-
Vita Mobile Systems? @VitaMobileSys Apr 5
We have been in discussions with our legal team regarding progress of the $VSMI S-1 registration statement. They have informed us that we will be provided with a final draft to review in several days.
THE LAST TWEET ABOUT THE LEGAL TEAM WAS ON FEB. 5 BUT THEN ON APRIL 25TH, THIS INFORMATION CAME:
We have only been relaying the information that we were given from the legal team that we retained to complete our S-1 filing. Unfortunately, the expectations they have given to us have not been met but they promise to have the final draft of form S-1 completed any day. $VMSI
THAT WAS THE LAST TWEET. INVESTORS HAVE SEEN THEIR STOCK PRICES SUBSTANTIALLY DOWNSIZED WITH NO REAL INFORMATION OR RESPONSIVENESS FROM THE COMPANY
WHY SUCH A LONG DELAY ON THE S1? AND WHY NO PROPER EXPLANATION OR UPDATE FROM THE COMPANY. WHY HASN'T MANAGEMENT FOLLOWED THROUGH WITH THE SIMPLEST OF ACTION ITEMS TO CREATE VALUE IN VMSI? THESE DIDN'T HAVE TO BE AN ACTION CHALLENGING PROPRIETARY INFORMATION BUT JUST AMPLIFICATIONS, UPDATES AND THOUGHTS ABOUT THE POTENTIAL USES AND POWER OF THE APP AND OTHER ASPECTS OF THE COMPANY, HOW THEY FIT INTO THE CURRENT TRENDS OF SHAREHOLDER INTEREST, ETC.
HAS ANY PROGRESS BEEN MADE TOWARDS BEING READY TO ACTUALLY LAUNCH THE APP?
WHO EXACTLY IS THE "NEW GUY", AND WHAT IS HIS ROLE IN THE COMPANY?
IS THE BIG DATA HANDLING INFRASTRUCTURE ACTUALLY IN PLACE?
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER SO FAR
Steponit
BamaJax
c18436572
RobinJoy
Ganjo
Jimmy99
Gharet
Rancor
Porterhouse 10
Jagman2018
dcdigrec
JFXL2
gopher broker
Will do, gopher. Please send me any additional concerns or corrections in regards to the letter. And if you have any shareholders your particular close to that or not on the letter please let them knows. Thanks for being a part of this. Take care.
Thanks, JFXL2.
I have added your name. I am interested in any of your concerns you might not have been covered in my message. Obviously, the more shareholders we have the more weight this letter will carry. So if you have specific shareholders you want to know about this, please let them know.
SHAREHOLDER LETTER: I HAVE ADDED MANY CONCERNS TO THIS LETTER BUT THERE
ARE PROBABLY OTHERS. EVERYONE SHOULD CHECK THIS OUT CAREFULLY AND ADD
ANY CONCERNS THEY HAVE- OR ANYTHING ELSE NEEDED TO KNOW ABOUT THIS LETTER.
WE NEED A LOT MORE SHAREHOLDERS THAN THIS. PLEASE NOTIFY SHAREHOLDERS NOT
ON THE LIST ON THE BOTTOM.
LATEST UPDATE ON SHAREHOLDER LETTER.
RE: SHAREHOLDER LETTER: PLEASE SEND ME YOUR NAME (USER NAME ON IHUB)
AND YOUR LIST OF CONCERNS IN REGARD TO THE LETTER AND LIST POSTED
BELOW. START YOUR MESSAGE WITH THE WORD "LIST:” SEND YOUR CONCERNS
AND NAME IN A SEPARATE MESSAGE. DO NOT SEND THIS EMAIL BACK WITH YOUR I
NFORMATION BECAUSE IT WILL MAKE THE EDITING MORE COMPLES.
Note: Concerns need to be non-speculative, on-defamatory, but ruthlessly accurate All we want
is a change of attitude and communication by management To show we are still on Track with a
company that originally showed us so much promise.
ORIGINALLY SUBMITTED Post # of 32973
SHAREHOLDER LETTER
We, the following shareholders in Vita Mobile Systems, are responding to yet one more time the stock has dived to sub-penny. This unfortunate event transpired in the absence of any timely notification about the progress of the uplisting and the long-overdue explanations for multiple announcements with specific timelines that never came to pass. This lack of transparency and candor is as unacceptable as the innumerable attempts to contact you that were unanswered. Whereas we all respect the promise of Vita Mobile Systems, the fact is many of us- to the tune collectively of tens of thousands of dollars- have seen the value of the stock shrink to practically nothing coupled with the obvious lack of continuity of communication that was also promised in addition to the list placed below.
Hopefully, the uplisting will go as planned- but, nevertheless, this obvious failure to communicate on a regular basis must not go on. Also, we want explanations and follow-up on the items on the following list gathered by all of us. We are making this request respectfully with the hope that your timely response will also be respectful- in the speed, quality and completeness of your reply.
LIST OF CONCERNS
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER
START YOUR MESSAGE WITH THE WORD "LIST: IN RESPONSE TO THE FOLLOWING:
PLEASE PUT YOUR IHUB USER NAME ON THE BOTTOM OF THE LIST. I WILL BE EDITING THE LISTS ESPECIALLY WHEN THERE ARE DUPLICATES OR OUT OF
PLACE IN A COMMUNICATION THAT NEEDS TO BE RESPECTFUL.
YOUR USER NAME WILL ONLY BE USED ON THE BOTTOM OF THE SHAREHOLDER LETTER AND NOT WITH YOUR SPECIFIC CONCERN. I WOULD LIKE TO HAVE THAT NAME WITH YOUR SPECIFIC LIST SO I CAN CONTACT YOU IF THERE IS SOMETHING THAT ISN;T CLEAR.
LIST OF CONCERNS
HERE IS A SEQUENCE OF TWEETS THAT EXHIBIT PART OF OUR CONCERNS:
WHAT HAPPENED TO THE CEASE TRADE ORDER THAT WAS SUPPOSED TO BE RESOLVED EARLIER? ON MARCH 1, 2018, YOU TWEETED…
We are aware of the prior management team’s correspondence with the BCSC. We don’t anticipate it having an effect on our stock. We should have it resolved shortly.”
HERE WAS A PROMISING TWEET:
Our team has been working diligently and we will have an update for everyone later this week! Stay tuned. $VMSI
12:01 PM - 6 Mar 2018
THE WEEK PASSED. ON MARCH 21, THERE WAS A COMICAL VIDEO OF PUTTING ASIDE THE PING-PONG TABLE. BUT THE NEXT DAY, ALL WE GOT WAS ANOTHER TIMELINE PROMISE:
We will have an update with more details regarding Beta very soon! $VMSI
3:13 PM - 22 Mar 2018
THE NEXT TWEET ON APRIL 20TH, ALMOST A MONTH LATER, CAME, SAYING:
We are positively overwhelmed with the amount of sign ups for public beta testing just within this first week! We thrive off of everyone’s excitement and it just validates all of our team’s continued hard work at $VMSI
ON MAY 4TH, WE WERE PROVIDED WITH ANOTHER TWEET.
Stay tuned for a letter to shareholders from the CEO next week. Will include update on the exciting progress and direction of $VMS
ON MAY 22, 18 DAYS LATER WE GOT THE CEO LETTER.
We appreciate all inquiries & questions regarding our company timelines. Per the latest shareholder letter, we are currently working on accomplishing certain strategies that should bring both short term and long term value to $VMSI.
AN EXPLANATION WOULD BE APPRECIATED ABOUT THE EXECUTION OF THE STRATEGY "THAT SHOULD BRING SHORT TERM AND LONG-TERM VALUE" THAT NEVER HAPPENED. DID MANAGEMENT EVER CONCEPTUALIZE A STRATEGY AND IF SO, WHY DID IT FAIL?
IN THE LETTER ITS WAS SAID:
We are all very excited about the future of Vita Mobile Systems, and we look forward to providing regular updates on both our first app VITA as well and our growing content library, proprietary algorithms and any acquisition opportunities. I encourage anyone interested in learning more about Vita Mobile Systems and the VITA app to visit our website at www.vitamobilesystems.com or to reach out to our IR group at ir@vitamobilesystems.com or 949-864-6902.
WHY DID ALL REAL INFORMATION ABOUT THE APP DISAPPEAR? STATUS OF THE BETA TEST (DID IT EVER HAPPEN, IS IT ONGOING, OR IS IT COMPLETED)? NOT ONE SHAREHOLDER OR ANY OF HIS OR HER ASSOCIATES HAS SEEN IT. NOR WERE REQUESTS FOR SHAREHOLDERS SEEING THE BETA EVER RESPONDED TO. SIGN UP WAS 4/17/18. ONLY RECENTLY WAS THE REQUEST FOR BETA TESTERS TAKEN DOWN ON THE WEBSITE,
ON JUNE 8TH, THERE WAS A FAMOUS TWEET, LONG-REMEMBERED ON THE MESSAGE BOARD.WHY? BECAUSE NO EXPLANATION, THOUGH ASKED FOR MANY TIMES, NEVER CAME. ON JULY 2ND, MORE EXCITING NEWS CAME IN A TWEET;
$VMSI is looking forward to being featured on @NewsWatchTV, whose morning show on @AMC_TV highlights recent innovations and the latest tech trends!
IS THE NEWSWATCH FEATURE STILL ON THE TABLE? IT WAS PROMISED A LONG TIME AGO AND NEVER APPARENTLY ADDED OR RETRACTED?
THREE DAYS LATER WE WERE TOLD ABOUT A FORTHCOMING PRESS RELEASE WITH A BETA TESTING PROGRESS UPDATE:
We are coordinating a $VMSI Press Release that will give updates & timeline on the progress of Beta testing. We are sticking to our current PR schedule and a beta testing progress update will appear after the next planned PR.
NOW, ON JULY 13, WE HEARD ANOTHER PROMISE ABOUT THE COMING PRESS RELEASE:
We have our press releases planned but are just finishing a couple of clerical details prior to our next release. Per my last tweet, we will have a progress update on beta following our next $VMSI announcement.
BUT ON JULY 26TH, WE GOT ANOTHER TWEET. THE EASY JOB OF FINISHING UP THE PRESS RELEASE WITH A FEW CLERICAL DETAILS DIDN’T SEEM TO HAPPEN;
Our next $VMSI Press Releases will be held until we are fully completed with what we are about to announce. We receive daily emails asking for updates and this is all we are able to convey at this time. We cannot announce this before it is done.
BUT THEN ON AUGUST 9TH CAME ANOTHER TWEET PROPOSING TO CANCEL OUT ANY REAL COMMUNICATION BETWEEN THE COMPANY AND SHOULDERS
“We aren’t able to respond with any direct or insider information to any solicitation requests, messages or emails. We will deliver new updates when we are able to announce it publicly. Our team is still working towards our company goals mentioned in previous announcements.”
WHY DID YOU CUT THE SHAREHOLDERS OUT OF THE PROCESS, WHICH INCLUDED SO MANY ITEMS THAT WERE NOW CLOSED FOR INQUIRY?
FLASH FORWARD TO OCTOBER 2ND WITH THE TWEET OF SOMEONE HOLDING A PHONE WITH THE TWEET:
Having lunch with my best friend VITA $VMSI
THIS THRILLED MANY SHAREHOLDERS UNTIL SOME REALIZED THAT THIS PHOTO DIDN’T PROVE ANYTHING ABOUT THE REALITY OF THE APP. AFTER THAT THERE WERE A FEW WELCOME TWEETS ABOUT THE TANGIER FINANCING. ON JANUARY 10, 2019 THERE WAS ANOTHER TIMELINE TWEET:
As an update, we're bringing the audit, uplisting & filing of our S1 across the finish line. We'll release various updates regarding our recent Board of Directors meeting, new developments & potential strategies & status of VITA the app. Excited for a successful 2019! $VMSI
THEN ON FEBRUARY 5TH, THERE WAS ANOTHER TWEET ABOUT THE S1FILING:
Vita Mobile Systems? @VitaMobileSys Feb 5
As an update, we just received the second draft of our S-1 filing. We are currently reviewing with our legal team and looking forward to it’s completion. $VMSI
THEN ON MARCH 21
Company initiatives are progressing well and we will be putting out a Press Release with an update next week. $VMSI
11:35 AM - 21 Mar 2019
ON MARCH 27TH, A PRESS RELEASE CAME OUT, ANNOUNCING COMPANY IN FINAL STEPS TO COMPLETE AUDIT AND REGISTRATION STATEMENT ON FORM S-1 FOR OTCQB UPLISTING. IT ALSO ANNOUNCED THE PURCHASE OF SHARES BY THE CHAIRMAN AND CEO, MARTIN WADE. THIS SEEMED LIKE GOOD NEWS IN ADDITION TO FUNDING BY TANGIERS. THEN-
Vita Mobile Systems? @VitaMobileSys Apr 5
We have been in discussions with our legal team regarding progress of the $VSMI S-1 registration statement. They have informed us that we will be provided with a final draft to review in several days.
THE LAST TWEET ABOUT THE LEGAL TEAM WAS ON FEB. 5 BUT THEN ON APRIL 25TH, THIS INFORMATION CAME:
We have only been relaying the information that we were given from the legal team that we retained to complete our S-1 filing. Unfortunately, the expectations they have given to us have not been met but they promise to have the final draft of form S-1 completed any day. $VMSI
THAT WAS THE LAST TWEET. INVESTORS HAVE SEEN THEIR STOCK PRICES SUBSTANTIALLY DOWNSIZED WITH NO REAL INFORMATION OR RESPONSIVENESS FROM THE COMPANY
WHY SUCH A LONG DELAY ON THE S1? AND WHY NO PROPER EXPLANATION OR UPDATE FROM THE COMPANY. WHY HASN'T MANAGEMENT FOLLOWED THROUGH WITH THE SIMPLEST OF ACTION ITEMS TO CREATE VALUE IN VMSI? THESE DIDN'T HAVE TO BE AN ACTION CHALLENGING PROPRIETARY INFORMATION BUT JUST AMPLIFICATIONS, UPDATES AND THOUGHTS ABOUT THE POTENTIAL USES AND POWER OF THE APP AND OTHER ASPECTS OF THE COMPANY, HOW THEY FIT INTO THE CURRENT TRENDS OF SHAREHOLDER INTEREST, ETC.
HAS ANY PROGRESS BEEN MADE TOWARDS BEING READY TO ACTUALLY LAUNCH THE APP?
WHO EXACTLY IS THE "NEW GUY", AND WHAT IS HIS ROLE IN THE COMPANY?
IS THE BIG DATA HANDLING INFRASTRUCTURE ACTUALLY IN PLACE?
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER SO FAR
Steponit
BamaJax
c18436572
RobinJoy
Ganjo
Jimmy99
Gharet
Rancor
Porterhouse 10
Jagman2018
dcdigrec
Done. Please send me any concerns you might have and let any shareholders know that you may be especially connected with that this letter exists. Thanks for joining us.
Thanks, Jag. Done.
If you have any concerns you would like me to list, please send them to me.
Saw this and modified list. Had some of this already. Thanks.
LATEST UPDATE ON SHAREHOLDER LETTER.
RE: SHAREHOLDER LETTER: PLEASE SEND ME YOUR NAME (USER NAME ON IHUB)
AND YOUR LIST OF CONCERNS IN REGARDS TO THE LETTER AND LIST POSTED
BELOW. START YOUR MESSAGE WITH THE WORD "LIST:.” SEND YOUR CONCERNS
AND NAME IN A SEPARATE MESSAGE. DO NOT SEND THIS EMAIL BACK WITH YOUR I
NFORMATION BECAUSE IT WILL MAKE THE EDITING MORE COMPLES.
Note: Concerns need to be non-speculative,non-defamatory, but ruthlessly accurate All we want
is a change of attitude and communication by management To show we are still on Track with a
company that originally showed us so much promise.
ORIGINALLY SUBMITTED Post # of 32973
SHAREHOLDER LETTER
We, the following shareholders in Vita Mobile Systems, are responding to yet one more time the stock has dived to sub-penny. This unfortunate event transpired in the absence of any timely notification about the progress of the uplisting and the long-overdue explanations for multiple announcements with specific timelines that never came to pass. This lack of transparency and candor is as unacceptable as the innumerable attempts to contact you that were unanswered. Whereas we all respect the promise of Vita Mobile Systems, the fact is many of us- to the tune collectively of tens of thousands of dollars- have seen the value of the stock shrink to practically nothing coupled with the obvious lack of continuity of communication that was also promised in addition to the list placed below.
Hopefully, the uplisting will go as planned- but, nevertheless, this obvious failure to communicate on a regular basis must not go on. Also, we want explanations and follow-up on the items on the following list gathered by all of us. We are making this request respectfully with the hope that your timely response will also be respectful- in the speed, quality and completeness of your reply.
LIST OF CONCERNS
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER
START YOUR MESSAGE WITH THE WORD "LIST: IN RESPONSE TO THE FOLLOWING:
PLEASE PUT YOUR IHUB USER NAME ON THE BOTTOM OF THE LIST. I WILL BE EDITING THE LISTS ESPECIALLY WHEN THERE ARE DUPLICATES OR OUT OF
PLACE IN A COMMUNICATION THAT NEEDS TO BE RESPECTFUL.
YOUR USER NAME WILL ONLY BE USED ON THE BOTTOM OF THE SHAREHOLDER LETTER AND NOT WITH YOUR SPECIFIC CONCERN. I WOULD LIKE TO HAVE THAT NAME WITH YOUR SPECIFIC LIST SO I CAN CONTACT YOU IF THERE IS SOMETHING THAT ISN;T CLEAR.
LIST OF CONCERNS
Why such a long delay on the S1?
Why hasn't management followed through with the most simplest of action items to create value in VMSI? These didn't have to be an action challenging proprietary information but just amplifications, updates and thoughts about the potential uses and power of the App and other aspects of the company, how they fit into the current trends of shareholder interest, etc.
An explanation would be appreciated about the execution of the strategy "That should bring short term and long term value" that never happened. Did management ever conceptualize a strategy and if so why did it fail? This was the tweet that was accompanied by a very appealing CEO shareholder letter on May 22: :We appreciate all inquiries & questions regarding our company timelines. Per the latest shareholder letter, we are currently working on accomplishing certain strategies that should bring both short term and long term value to $VMSI.”
But this was cancelled out by the following email in August 2018 when you tweeted
“We aren’t able to respond with any direct or insider information to any solicitation requests, messages or emails. We will deliver new updates when we are able to announce it publicly. Our team is still working towards our company goals mentioned in previous announcements.” Why did you cut the shareholders out of the process, which included so many items that were now closed for inquiry?
Status of the Beta test (did it ever happen, is it ongoing, or is it completed)? Not
one shareholder or any of his or her associates has seen it. Nor were requests for shareholders seeing the Beta ever responded to.
Has any progress been made towards being ready to actually launch the app?
Who exactly is the "new guy", and what is his role in the company?
Is the big data handling infrastructure actually in place?
What happened to the Cease Trade Order that was supposed to be resolved earlier?
Is the Newswatch feature still on the table? It was promised a long time ago and never apparently added or retracted?
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER SO FAR
Steponit
BamaJax
c18436572
RobinJoy
Ganjo
Jimmy99
Gharet
Rancor
Porterhouse 10
Thanks a lot. I really appreciate it.
But if it is possible, please send me a list of your concerns. Because as I said, you are generally the most communicative about those details. Now they are needed. At least to have a complete letter that lists everything significant. Short intro- Long list of concerns.
Thanks. Will do. If you have any other concerns you want to put on the list please send them to me as soon as possible.
And if there are other shareholders you might know that might not hear about it please let them know.
I agree. Something like that could very well be happening. Hey could you do me a favor- and send me a list of your concerns that would be appropriate to a relatively polite inquiry as to the concerns we have about all the unkept deadlines and promises that were made to us? As you know, I am compiling a list...
LIST: I WOULD LIKE TO PUT YOUR NAME ON THE LETTER I AM SENDING OUT.
I have added some clarifying elements to your concerns. I felt youR concerns were important enough to amplify in certain ways- so I did. Tell me if I am right>
Is the Newswatch feature still on the table? It was promised a long time ago
and never apparently added or retracted?
Why hasn't managment followed through with the most simplest of action items to create value in VMSI? These didn't have to be an action challenging proprietary information but just amplifications, updates and thoughts about the potential uses
and power of the App and other aspects of the company, how they fit into the current
trends of shareholder interest, etc.
An explanation would be appreciated about the execution of the strategy "That should bring short term and long term value" that never happened. Did management ever conceptualize a strategy and if so why did it fail? This was the tweet that was accompanied by a very appealing CEO shareholder letter on May 22:
:We appreciate all inquiries & questions regarding our company timelines. Per the latest shareholder letter, we are currently working on accomplishing certain strategies that should bring both short term and long term value to $VMSI.”
But this was cancelled out by the following email in August 2018 when you tweeted
“We aren’t able to respond with any direct or insider information to any solicitation requests, messages or emails. We will deliver new updates when we are able to announce it publicly. Our team is still working towards our company goals mentioned in previous announcements.” Why did you cut the shareholders out of the process, which included so many items that were now closed for inquiry?
Porterhouse-
You are clearly the one person who has articulated the most of your concerns than anyone else on the Board on a regular bases. Can I add you to the list of names and will you post all your concerns, which will help me immensely? I have also added the Canada Cease Trade Order to the list below. Please help me get other names and a complete list of concerns. I want this list to be comprehensive.
RE: SHAREHOLDER LETTER: PLEASE SEND ME YOUR NAME (USER NAME ON IHUB)
AND YOUR LIST OF CONCERNS IN REGARDS TO THE LETTER AND LIST POSTED
BELOW. START YOUR MESSAGE WITH THE WORD "LIST:.” SEND YOUR CONCERNS
AND NAME IN A SEPARATE MESSAGE. DO NOT SEND THIS EMAIL BACK WITH YOUR I
NFORMATION BECAUSE IT WILL MAKE THE EDITING MORE COMPLES.
Note: Concerns need to be non-speculative,non-defamatory, but ruthlessly accurate All we want
is a change of attitude and communication by management To show we are still on Track with a
company that originally showed us so much promise.
0
ORIGINALLY SUBMITTED Post # of 32973
SHAREHOLDER LETTER
We, the following shareholders in Vita Mobile Systems, are responding to yet one more time the stock has dived to sub-penny. This unfortunate event transpired in the absence of any timely notification about the progress of the uplisting and the long-overdue explanations for multiple announcements with specific timelines that never came to pass. This lack of transparency and candor is as unacceptable as the innumerable attempts to contact you that were unanswered. Whereas we all respect the promise of Vita Mobile Systems, the fact is many of us- to the tune collectively of tens of thousands of dollars- have seen the value of the stock shrink to practically nothing coupled with the obvious lack of continuity of communication that was also promised in addition to the list placed below.
Hopefully, the uplisting will go as planned- but, nevertheless, this obvious failure to communicate on a regular basis must not go on. Also, we want explanations and follow-up on the items on the following list gathered by all of us. We are making this request respectfully with the hope that your timely response will also be respectful- in the speed, quality and completeness of your reply.
LIST OF CONCERNS
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER
START YOUR MESSAGE WITH THE WORD "LIST: IN RESPONSE TO THE FOLLOWING:
PLEASE PUT YOUR IHUB USER NAME ON THE BOTTOM OF THE LIST. I WILL BE EDITING THE LISTS ESPECIALLY WHEN THERE ARE DUPLICATES OR OUT OF
PLACE IN A COMMUNICATION THAT NEEDS TO BE RESPECTFUL.
YOUR USER NAME WILL ONLY BE USED ON THE BOTTOM OF THE SHAREHOLDER LETTER AND NOT WITH YOUR SPECIFIC CONCERN. I WOULD LIKE TO HAVE THAT NAME WITH YOUR SPECIFIC LIST SO I CAN CONTACT YOU IF THERE IS SOMETHING THAT ISN;T CLEAR.
LIST OF CONCERNS
Status of the Beta test (did it ever happen, is it ongoing, or is it completed)?
Who exactly is the "new guy", and what is his role in the company?
Why such a long delay on the S1?
Is the big data handling infrastructure actually in place?
Has any progress been made towards being ready to launch the app?
What happened to the Cease Trade Order that was supposed to be resolved earlier?
NAME OF ALL STOCKHOLDERS WHO WILL SIGN THIS LETTER SO FAR
Steponit
BamaJax
c18436572
RobinJoy
Ganjo
Jimmy99
Gharet
Thanks for the list. Overall, I agree that what is behind all this is a form of selfishness perhaps rationalized because of lawyers advising them to being cautious of anything they say. But to be real, like I just said to Jimmy, your conscience should supercede lawyer's lack thereof. And lawyers, if they were, indeed, selfish, perhaps might ignore certain timelines if they felt like it.