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Did he close on the $16 million asset-based financing? If he did, I would like to know what is the lending source? Because that is a major accomplishment for a company this size acquiring that type of financing in this environment. Did the lender do a tombstone ad on the deal?
This is a critical component for the implementation of his business plan. Without this long term financing, the acquisition of this asset will be much more difficult to achieve.
Then you offer a rare prospective about the on goings of the Company at that point in time. Sort of like getting behind the curtain of the Wizard of Oz.
This is the best board on iHub. It's the Facebook of boards!
Going forward, Peter will be acquiring the Good Ship Lollipop.
I don't believe Peter would allow that to happen.
The annual financial statements aren't that important at this stage. This is the start up from the ground up. What is important revenue producing operations that hopefully will be soon.
WHAT!?! Regulatory action quite likely? Now I'm afraid. What will this do to the mergers? The stock?
Bottom of what? The ocean?
Especially if you had to go on a cruise in the Mediterranean to check out the ship!
General fraud to induce an investment would be similar to legal recourse for fraudulent representations for any of the officers, directors, law firms, or accountants/auditors making such fraudulent representations audited or unaudited and would be the jurisdiction of the Arizona Attorney General.
In Arizon, fraudulent non GAAP compliant financial statements would be under the jurisdiction of the Arizona Attorney General. If any investor relies on fraudulent non GAAP compliant financial statements and experiences a loss, then the Board of Accountancy suggested a formal complaint be filed with the Arizona Attorney General. This would be a Class 5 or Class 4 felony.
You're confusing real world and real business like yours with the Pink Sheet world with regard to auditing.
Oh the work for a small company would be easy but what I was referring to was that a fraudulent audit is a class 5 felony. Fraudulent audit in connection with the filing of financial statements with securities is a class 4 felony.
In the world of securities fraud, the auditors have the highest percent of being incarcerated with the paid pumpers having the lowest.
Boy, I would hate to be an Auditor for this Company!
Lather, rinse, repeat?
So what you are saying is that, in your opinion, this is fitting into the classic ANATOMY OF A SCAM/TOXIC TRADING PATTERN scam as outlined in Ihub's Stock Playars Caution Statements?:
http://investorshub.advfn.com/%C2%BB%C2%BB%C2%BB-Stock-Playas-%C2%AB%C2%AB%C2%AB-23001/
Caution Statements
ANATOMY OF A SCAM TOXIC / TRADING PATTERN
1. Take a shell which you control and buy back as many shares as possible while it has nothing in it and convert loans into more free trading shares such that the majority of all free trading shares are in the hands of the promoters; 1. PPS drops to .000#
2. Find an inventor with a failed technology or an inventor with a hopeful technology but the inventor is broke and the technology is going nowhere; 2. R/S the stock
3. Restructure the deal somewhat to accommodate the inventor but give him restricted shares; 3. PPS drops to .000#
4. Find some dope to act as CEO. It's even better if the CEO is broke and needs money from the scam to survive. In this way the CEO is totally controlled by the scammer promoters. 4. Management loads on undervalued shares, while everyone else sold out on panic or anger
5. Issue out some Fluffy PR's about how great the technology is. 5. P&D compaign begins
6. Find some individuals in far off places that seem to be legitimate to make claims of contracts and projections. 6. People buy in, stock going up
7. Put out fluffier PR's about how the technology is coming along; 7. Managment Sells
8. Sell some shares to naive investors; 8. Dilute by issuing
9. Issue some more Fluffy PR's with sales projections. 9. Repeat Step 1
10. Sell some more free trading shares to new investors buying into the fluffy news about the claimed technology.
11. When the deal ultimately fails, rinse and repeat.
The Mediterranean! No interest in Panama or Columbia... but Italy! Sign me up!
Site looks good on the iPhone!
http://medcruisestogo.com/
Yes that's the one. Couldn't remember the person/company. Too much Captain Morgan!
I agree with you. These are minor issues in the over all big picture. But issues that must be resolve if in fact they are true. But nothing Peter can't navigate through.
I agree with how management resolved the Korean deal. Neither party would have come out ahead in a court of law, except the lawyers. This way you have not only resolved the issue but now have a strategic partner whose interests are aligned with yours.
I can't see where bankrupt of any sort could be of any benefit to any of the parties. And odds are that whatever these lien/judgements are have been or will be satisfied using funds that were derived from the stock that was recently seen.
Bankruptcy is unlikely. Peter will be able to work thru these inconveniences.
I should have not said it was a debt. It was funds advanced by the Koreans on the the Expo deal. When VDSC couldn't get the ship to Korea, the deal fell thru. Looks like they got stock instead of a refund. I agree with management on that.
Was that how the Korean $5,000,000 debt was handled? By them receiving 30% owership? If so, I'm glad that is out of the way.
The only thing left that I can see is resolving the debt outlined in msgs #65351 and #65220. If these are true (I have no way of knowing), then the recorded judgments and liens on file are over $3,000,000. Has anyone check this out? Is stock used to satisfy these if they are true?
Also, Seaam comments in message #68996 is somewhat of a concern. I'm not a lawyer so I don't know if his comments are true. Personally I can't believe that it can be that easy to force an involuntary bankruptcy.
"my self and other creditors I know will not accept Restricted shares or shares of any kind for their debt. They intend to take this company into involuntary bankruptcy if a payment of cash is not made. What else can be said except that with judgments on file now, that cannot be disputed, it only takes three creditors to petition the court. Defaulted judgments are already on file and this has allowed Peter and Company to dispute the claims, which were not, and thus Peter has already had his day in court and the opportunity to tell his story via disposition. Peter has already forfeited his rights for a voice in the court. The day of reckoning is coming. In other words Peter and Company, shut up with your lies, this is going to be stuffed down your throat.
"And it is my understanding, that shareholders are last in line for a bankruptcy...in other words...your ownership shares become completely worthless. Bye Bye....it was a known risk of investing in this penny and not exercising your right of shareholder corporate governance."
Does anyone know the validity of these statements?
Oops, yes, you are correct that the financials are not filed with the SEC but rather are filed with the OTC and are unaudited. I was referring to the OTC posts viewed at
http://www.otcmarkets.com/stock/VDSC/filings
Specifically, most recent annual report....in regards to Saenz Yachts.
http://www.otcmarkets.com/financialReportViewer?symbol=VDSC&id=109932
in particular,
footnote 4 - Notes Payable, does not mention the any lien or debt related to Saenz Yachts, and
footnote 7 - Acquisition of Saenz Yachts, does not mention any lien or debt.
Also, Management's Current Update of prior exposures,
http://www.otcmarkets.com/financialReportViewer?symbol=VDSC&id=103756
where Peter certifies that, "
"ISSUER'S CERTIFICATIONS
Peter Villiotis certifies that
Based on my knowledge, the financial statements, and other financial information included or incorporated by reference in this disclosure statement, fairly presents in all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented in this disclosure
statement.
Dated: May 6, 2013
Certified by: /s/ Peter Villiotis
Peter Villiotis, its President"
Yes you are right, financial statements submitted to OTC Markets by VDSC are false. I just found it amusing in Peter's email to Brian, Peter uses debt on the assets as an excuse.
In regards to the numerous previous court postings and citations for judgment and liens in various courts, I do not see them in the financials or the footnotes either. I am referring to message #65351 for these court judgment/liens. If these are true, then I am afraid that a company with no real assets and revenues will not be able to satisfy these judgments and might be the end of the company.
I don't understand. The VDSC Financials submitted to the SEC do not show any debt related to Saenz Yachts. The officers swore to the SEC, (Ed Salmon, Peter Villiotis, and Al Ayers) that all debts had been disclosed.
Yet now we have e-mails, from Peter supposedly stating that there are.
From: Peter Villiotis <peterv2010@live.com>
To: 'Brian Xxxxxxxx' <xxxxxxxxx@msn.com>
Subject: RE: VDSC shareholder?
Date: Sun 9/15/13 10:57 AM
Hi Brian
The Saenz deal was good and the assets was valuable, Ed salmon was promised
to Saenz raise capital to paid the debt company had which unfortunately
didn't happen, the funds never arrive and the creditors when after the
assets.
The assets still available but serious capital need to be raised in order to
be free and make the fleet operate again and create revenue.
Best regards
Peter
Am I miss reading this? Or has Peter not been completely honest either to the stockholders, investors, or the SEC?
“Press on. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” – Ray Kroc
DOWNWARD DEATH SPIRAL
No ship = No revenues = No business = No value
Lol that's a good one.
CONFIRMED MERGER RUMOR
It makes sense that with 1.9 billion A/S (authorized shares), and Peter working for Carnival Cruise and knowing everyone at Royal Caribbean Cruise, heard a rumor that he is doing a leveraged buyout (merger) of Carnival and Royal Caribbean. It makes absolute sense, he has only announced one merger, we expect three, this would be the other two mergers.
However, I am concerned, in light of the recent FTC (Federal Trade Commission) ruling disallowing the proposed merger of US Airways and American American and creating a monopoly and too much market concentration. I am concerned they would not authorize Peter's merger.
This merger would be great for the shareholders.
Where is Ms Cleo when you need her?
Lol I just want the stock price to go up! I don't want any of these creditors interfering with that. Cheaper to discount the note and be done with it.
This is a nuisance suite needs to be handled. If this note is true then it needs to be taken care of. It's going to costs too much in lost stock value.
Isn't that the definition of pink sheet companies out of S Fla? - Fly by Night!
Omg gone in the middle of the night!