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Buy high, sell low.....
I thought you said the other day you had already sold out??
Don't let the door hit you in the butt on the way out.
"To be clear, the fear mongers aere claiming that this proposal will not benefit the company and the company will not uplist because they did not come right out & say it."
To be even clearer, Ferris stated IN WRITING in both the proxy statement and the latest quarterly, that they had no plan to uplist to a better exchange, a FACT which you some how choose to completely ignore.
Why do you choose to try to distort the FACTS by referring to verbal allusions which are in direct conflict with official written documents submitted by the company?? Is it your position that we should rely on verbal hints in the CC, rather than the official written documents provided by the company? Really?? Surely you are more intelligent than that, so what is your real agenda here?
Magic
I find it very interesting that 63 people participated in the share count survey a while back, and only 33 have voted in the RS survey so far.
Magic
I fear that several posters here who are apparently naive in the area of trading pink sheet stocks are about to get an expensive lesson. Hope they learn something for their money.
As my 7th grade history teacher (who was also my gret aunt) once said to me, "not only is experience the best teacher, for most of you little hard-headed SOB's, it's the ONLY teacher".
Magic
Oh I listened alwright. The FACT that those non-definitive allusions contradict the clear written statements contained in both the proxy proposal and the quarterly report, along with the FACT that he is proposing to abandon any semblance of complying with the governance requirements for uplisting, lead me to clearly believe he means what he clearly said in writing, no uplist plans.
Now any of you "have faith or sell" folks really want to deny these two FACTS contained in our SEC filed documents?? Really??
Magic
ap223, if Virtra were taking the necessary steps to uplist pursuant to a defined plan, I would tend to agree. Instead, they state in writing that they have no plan to uplist, and they are proposing to degrade their governance provisions such that an uplisting would not then be possible.
Magic
because it looks like we may be able to defeat the RS proposal.
Everyone eligible, please vote in the survey Sir Felix has provided for us:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=61784314
Thanks, Magic
There you go again, totally misrepresenting the facts. Please take your meds so you can stop this bi-polar cycle.
Magic
Sir Felix, thank you for putting up the survey. I wish it could include the share count, but I guess that was not possible. Very much appreciated.
Magic
Teeroy, Sir Felix, what became of our straw poll??
TIA, Magic
It is equally worrisome that you and others do not understand that the stock price and the fundamentals of the company do NOT necessarily go hand-in-hand, as evidenced by the current dropping in the stock price. The fundamentals of this company's business are very good. The stock price is being killed by this ill-advised RS and the accompanying degradement of governance which pretty much eliminates any shareholder control such as you assert.
I really like the company's business. If I suspect the RS will pass, I will sell prior to the meeting with the expectation of being able to buy back at less than half the cost.
Magic
Just a list of the proposals with a yes or no vote for each and the number of shares being voted.
It might be interesting to add a question something like:
If you voted "NO" on the RS, would you consider voting yes if there were a firm uplisting plan in place prior to the RS vote?
But really, I just want an item by item count of the shares for and against each proposal.
Thanks, Magic
Thanks Teeroy. Looking for ward to it.
Magic
Teeroy, I would like to hear your opinion of why the RS without a defined uplist plan is best for the company and/or the present shareholders, as opposed to getting a firm uplist plan in place prior to any RS.
Magic
PS: how about a straw poll on the RS??
Think how much BETTER it would be if you didn't have to start out in the hole by 50%. Can you really not see that? Isn't a 1000% profit much better than a 500% profit?
ztect, while he may well be a shill, which I agree is likely from his history, that doesn't change my intent or expectations. He could be Ferris for all I know. I simply wish to disprove the advisability of the RS under the plan presented. If management can see the wisdom in changing the plan, that's great. If not, I hope the majority of shareholders will see the inadvisability of the proposal and vote it down.
I am trying to save the market cap of the company and thereby the value of my investment. Illogical spins and false premises must be exposed to assure that happens, so I trudge ahead, despite the "have faith or sell" gang, etc. At some point I must determine whether the proposal is more likely to pass or fail, and decide the status of my investment accordingly.
I will admit to being a bit angry that management has blindsided my with this circumstance.
Keep up the good fight.
Magic
Stockguy, if you recall, I was probably the biggest rah-rah guy when the GM deal was announced, and valued it at up to $100MM. I haven't changed my thinking about that. I too like the management team, at least Ferris, for the product they have brought to market and their ability to market it.
If they do, in fact, have plans for uplisting to NASDAQ, then they shouldn't be denying it in writing in the proxy statement, and there is no reason they couldn't state it openly. That said, how can they then justify the proposal to basically eliminate the governance provisions in the corporate by laws??
I vehemently disagree that a RS under these circumstances should increase the share price, as you state. I actually expect that this RS, if approved, will cut the market cap of this company in half, at least, and I don't want to be holding if that happens. Thus, I again ask the mods to put up a straw poll to see where the board count stands and give an idea of the likelihood of passage. Hopefully management will see the wisdom of withdrawing it before hand.
Magic
Stockguy, that dog just won't hunt. You can't argue a possible uplisting on one hand and critically degrade the governance on the other, all the while denying any intent to uplist, in writing. A RS at some point in the future when accompanied with audited financials and a firm uplist plan might be a good idea and I might support it then. But this proposal jerks the rug from under all the penny stock investors who have supported this comapny and its growth up to now, and accomplishes nothing good that I can see.
There is no way to spin this that truthfully puts it in a good light. And I could easily cast this whole deal in a very diabolical dark shadow if I was a spin guy (going private, backroom buyout deal, etc).
I much prefer to keep to the high road and give them the opportunity to make this right for us shareholders.
Magic
Strat, I'll take your word for that, makes sense as well. Just hard to fathom who would decide at this time to dump 1.5mm shares at these prices, unless
based on the volume, I suspect some of this selling to be the PP buyer, btwtfdik.
Magic
Dear Mssrs. Ferris and Andrus;
Good character is one of the most important attributes a person can achieve in their lifetime. If I have learned anything in 60+ years, it is that you will always continue to make mistakes in life, hopefully smaller ones as you get older, wiser, and more experienced. In fact, mistakes are just what makes you wiser. That is, of course, if you have learned how to deal with them when they occur.
One of the greatest indicators of good character is recognizing your mistakes, promptly admitting them, and taking whatever action is necessary to correct/mitigate them. You have such an opportunity before you right now. Whether due to bad advice, poor judgment, inexperience, or whatever, clearly the proposal that is being offered to shareholders contains some elements that are just plain wrong.
Please take this opportunity to demonstrate your good character and withdraw this proposal in its entirety. You have brought this company to the brink of major success through your hard work and attention to the fundamentals of the products, along with your ability to market the products very successfully. Punishing the shareholders who financed this endeavor by continuing to pursue the current proposal would certainly not be an indication of good character, and would not be in the best interest of the company going forward.
Your serious consideration of this suggestion would be very much appreciated.
Magic
Hey Teeroy, how about putting up a straw poll to see where we stand on the proposal???
Magic
You have something to share or just avoiding answering the question?
Magic
As a person who actually makes those decisions, negotiating contracts and making purchases, I couldn't care less about the other party's stock price. If I have any question about their ability to support a product, honor a warranty, etc, I look at their financials and reputation. The questions I ask myself are: do they have a good reputation with their customers, and can I collect if I have to go after them. Stock price, private vs. public, etc have no bearing whatsoever.
Magic
Upgrade the investor class????? That's hilarious. Run off the penny investors like me who buy good companies at cheap prices because of the leverage that penny prices offer. Then replace us with whom????? Institutions?? Not a chance with unaudited financials and pink sheet listing. Who then? C'mon, define the "better" class of investor you think might be attracted to this stock after a 1/100 RS, no uplist plan, nearly no public shareholder input, nearly no governance, and a declining stock price.
Magic
Now THAT was funny, tasteless, but very funny, thanks.
Magic
So we do a RS of 1/100 and the stock price drops back to $4, which cuts the market cap in half, and somehow that makes the company more respectable to a purchasing manager???? The logic of that totally escapes me, and I'm a guy who signs checks for millions of dollars in vendor purchases every year. That dog just won't hunt in any world I know of.
Magic
"We could easily add the requisite number of indpendant directors and complete a full SOX audit in a quarter"
So why do it in reverse order? A RS can be done in a month if the audit and governance requirements are in place. A RS with an immediate uplisting plan in place would be MUCH more palatible to those of us who are voting NO under the present circumstances. But asking for a RS while at the same time degrading the governance status, and no stated plan for audited financials smells to high heaven to me. Bad judgment, at best.
Magic
On the proxy porposals.
I think we can all agree that earnings matter.
I would like to see a straw poll on the proposals so I can get a feel for whether the RS is likely to pass or fail. It would help me decide whether to sell or hold thru the meeting.
Magic
Straw poll???
Magic
I read it, it sucks, pretty much. No time to expound right now.
Magic
Kinda funny looking back that the suggestion of getting audited financils done came up serveral times in recent months, but not once do I recall anyone suggesting that a RS without a firm uplist plan was even remotely a good idea. In fact I don't recall a suggestion of a RS coming up at all. Now it gets thrown up here out of the blue, and the have faith or sell guys act like it's a great idea, with no logic whatsoever to back it up. Kinda makes you wanna go "hmmmmm"!!!
Magic
Funny you would mention LOGIC, then assert the nefarious uplist goal, when parts of the proxy proposal degrade the company's qualifications for uplisting (governance requirements). Oh yeah, I know your reply, "have faith or sell".
How about applying some real logic to the situation and explain in clear, logical language how this proposal is in the best interest of the current shareholders, beginning with the RS. I could be pursuaded by a really good argument, but I ain't heard it yet and you have offered absolutely nothing.
Magic
"Rome was not built in a day"
No, it wasn't. And the roof was not built before the foundation was laid and walls erected to support it.
So let's start with the foundation, audited financials; then work on the walls, governance requirements: then look at whether a RS is needed for uplisting, ......
Magic
Sir Felix, according to your prior survey there are at least 67 million votes represented on this board. How about putting up a survey for us to vote on the proposals?? It could be similar to the proxy form, with each person indicating the number of shares they are voting. Such a straw poll could be very valuable to many of us who are on the fence about whether to sell or not. It would also allow many here who read but do not post to let their position be known anonymously.
Thanks,
Magic
Jim, extremely well stated.
Magic
ztect, et al, thanks for carrying the ball here. It seems to me that the NO group has about a 3 to 1 edge, based solely on the posts here. I hope that is, in fact, the case, as I believe that my investment here will be significantly degraded if the RS is somehow approved. I wish we could get a count of the current position on this issue, as I would like to sell if I think it likely that the RS will get approved. I haven't posted much since setting forth my position in this matter, as I am angry that management has blind-sided me with this proposal and effectively pulled the rug from under my strategy for making a significant profit here. I have found that posting from an emotional level (anger) tends to alienate those with different initial leanings, and I think a well thought-out, rational judgment is much preferable, though it seems that the "trust or sell" group can't get their minds around that concept. Thus, I am trying to stay on the sidelines and let cooler heads such as yourself lead the defense of our rights.
Thanks, and voting NO on 1,3,4 and 5.
Magic
I don't see you adding anything other than "have faith or sell".
Got any real facts to offer??
Magic
It looks like directors fees to me.
Magic