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You should be on there payroll and maybe the CEO. I appreciate all the work you did to find out that information but that just shows how poorly there sales team really is.
Happy Holiday's to all
I wish I saw one more highlight
"New CEO hired and Bob Ferris steps down to fill the CTO position"
this is a LOL. If I had to guess Friday before a weekend, Christmas Eve (next Friday), New Years Eve (another Friday).
Happy Holidays everybody
Fantom19. I got a good chuckle this morning and you are correct Sharpcity would make a better CEO.
Your not as sharp as your username. If they got an order for $20 million and needed money for 6 months they can
1) get a hard money loan at 15% interest. Given there margins are over 50% they would need a loan for $10 million and interest would be $750,000 (expensive money but cheaper for the shareholders
2) open up a line of credit from a bank at 6% for $5 million - $7 million it will cost them 1% fee plus no interest unless they draw it down probably @ % interest.
3) sell out to the vultures and shareholders get less money but his employees get huge bonuses (more then the shareholders) and the vultures make more money with no risk.
Sharpchicity your are as smart as Bob as being a CEO/CFO
thank you fishhumter
Bob is basically going to screw the shareholders again
Am I reading the 3 month results properly. If not for the PPP we lost money?
I own shares in this company. Eagle dry shipping. Here is a comment from there CEO during there quarterly earnings report “ And you know, whether we pay out 30% or even more, or pay down 50 million or buy back shares, you know, it's that every dollar that we generate is for the benefit of our shareholders. And the real story here, in my mind, if you'll allow me, is that we generated 91 million of EBITDA with 53 midsize ships, you know. “
Most important “for the benefit of our shareholders “. I wish Bob would fell this way
So we can agree to disagree on this issue.
I an not 100% sure but i think is based yearly
So to follow up with the question I ask Bob. Bob called me on Tuesday to follow up on the conversation we had on Monday regarding the 15% employee bonus.
in the short of it.
Bob said that when the company bought back shares 3 years ago the percentage did not increase for the employees to reflect the increase of the value of the shareholders percentage. I tried to explain to him that it should not because the money that was used was shareholder money and the employees already got their bonus out of that money already and it was shareholders money, in a sense.
Bob did not understand that argument. When I realized the conversation went nowhere and that he could not comprehend what I was saying I told him to get and explanation from an accountant. I also mention I will fight this - he told me I would lose and to quote him "if you do not like the wat the company is ran do not invest in it" - to me that's pigheaded comment.
He then continued to say if you take away the 15% you will demoralize the employees.
He also mentioned the money that was gotten from the shares sold will increase profits for the shareholder and i explained yes the employees will make more even at the lower rate. Bob did not care.
I did mention to him maybe a compromise would work. current employees will get 15% and new employees will get (the diluted amount around 11%).
we will see where this goes.
BUT AT THE END BOB DOES NOT CARE ABOUT SHAREHOLDERS VALUE. WE NEED TO UNITE AND GET OUR VIOCES HEARD.
I will still need to post the rest of my Monday conversation with Bob
My question was
1) since the shareholder were diluted by approx. 30% does the 15% profit sharing to employees get diluted. as an example. if there were 1000 shares outstanding and the company made $1000 the shareholders value of the profit is $1 per share. the employees get $150 so our profit then goes to .85.
Now there are 1300 so the value of our sharers are .77 butt then deduct $150 so our value now is .65. that does not seem fair. my feeling are that the employee profit sharing should decrease to keep the shareholder on par with the diluted (devaluation) of our shares.
I spoke with Bob, as he called me back, and he said he will discuss it with the BOD and the CFO and they will look into it.
He tried to explain that the additional money from the dilution and the current value of the stock should make the shareholders happy but i explain that that is not the concern as an going forward on profitability of the company. they should be able to use that money to produce more income and profits which will make up for that devaluation but on the counter the shareholders should be rewarded equally as the employees
I had a long conversation with Bob and will try to post it later today or tomorrow.
We spoke about.
His Sales team.
Corporates (CEO/CFO bonuses) bonus/incentive levels
Gave Bob an idea about a selling promotion
at the end I was glad he called me right back and understood my concerns.
I asked 2 questions and they where not addressed. I just called the company and awaiting a reason why my questions were not answered.
I called and told them I will be on the call (no need to register) and I will have 2 questions for them. I also told the person that I will not send in my questions in advanced. I was told that questions will be taken on the call
no
I think Bob is a very smart person but is not qualified to be a CEO of this company in the current environment/growth of the VTSI. I was once a 1.8% shareholder but currently selling shares to get to 1%. I have made a lot of money from this stock. While i think this stock has the potential to get to $30 a share it should have been there by now (or 5 years ago).
He does not know who to put a sales team in place or how to sell nor pick a great BOD that might want to hold shares and see that company succeed the way it should.
I still cannot figure out the reason for dilution and I am waiting for the shareholders meeting to ask 2-3 questions relating to the dilution. I know it cannot be revised but there are issues that I have regarding the dilution that affect shareholders value.
I have spoken with Bob a few times and meet him a shareholders meeting. I asked a very simple question "if we have a group of 35% shareholders would you allow us to put a member on the board" he flat out said NO. I am not making asinine statements I am making a statement of how I feel. I am not the one with a stick up my Axxxxx.
Bob would be a great CTO.
You never know with Bob - He does not really care about stockholders. You will realize that if you attend the shareholders meeting
Problem is our sales team. They should offer all large city's a 30 day FREE demo. the investment of time and labor would be well worth it. I am pretty sure 8 out of 10 city's will purchase or STEP them.
YOU NEED TO SPEND MONEY TO MAKE MONEY. use your profits and newly infused funds
No need for board members who get options to purchase shares on the open market. the options they get, like the last ones, they can purchase @ $2.XX and keep them.
I am not asking for the employees/board members to purchase shares on the open market, just buy the shares at the option price and keep.
Why would Ferris and Brown sell there shares that they can purchase at $2.10 when all this good news is coming down the pipe.
What they cannot afford $10,000 and $5,000 to keep it for more upside profit.
this is why they need a FULL replacement of the Board and CEO.
I hope all shareholders vote no to the board members - or I can at least dream.
The good news is the stock is finally at .54 pre reverse split. it should be at $20 ($1.00 pre). Just imagine if they never sold the 3 million shares the stock would be at $14-$15 now. What did they really need the money for. I think it was Bob's Ego
Well enjoy the stock price everyone - a well deserved and long time coming profit.
VirTra just called me back - I was happy they responded to me in a very acceptable timeframe. Maybe things are changing there. Confirmed it was a problem they are fixing
thank you. Do you work for Virtra. That was an amazing find. I am very impressed
I just called VirTra and I am awaiting a callback from them. Will report I get more information
then i stand corrected about the tempe building
If I remember correctly and I am pretty sure I am correct, could be wrong, Ferris family owns the Tempe building in one way or another.
I do have to say one thing. With the 3 millions additional shares being issued, I will now assume that Ferris did not give them additional information otherwise they would have held onto there shares.
I still believe that VTSI did not really need to dilute the shareholders
Questions:
1) the Tempe location is owed by the Ferris family - is VTSI on the hook to continue paying the rent until they find a new tenant to sublease the property or is there lease up.
2) I assume the new location will be owned by VTSI
Are you kidding me. The only person who is "cozy" is Ferris. Who cares about the PR unless you what to sell your shares that day. The real question is when is the Annual meeting.
Without a great sales force we are still a small fish. Take $2mil and go out and find the best sales team you can - steal from Axon and other top competitors - pay what ever you need to get the best. 3 great salespersons with a great team leader can produce amazing sales.
Ferris is too timid as our leader - needs to grow a pair of " "
The real question is, what did VTSI tell these investors that is not public knowledge for them to purchase at $6.00 a share (at that time above market price). There is definitely something that went on behind close doors. I am not saying illegal but it sure smells like it.
If I do go to the shareholders meeting (if they have it live and not virtual) I will ask that question straight out and record the answer.
There should be a shareholders meeting very soon or at least an announcement soon. Last year it was in august and the year before in September
How low do we go. I think $6.25 it will bottom out.
any other guesses.
The message board is getting stale
Fishhunter your a newbie. I purchased my 1st share in 2006
Ferris has to go as CEO. Sales team needs to be replaced. BOD needs to be replaced.
You learnt from the best CEO and Sales team around. Your hired for there new PM position.
Gave me a good chuckle today
that is the problem with the CEO and Sales team. here is a great sales pitch and they will ignore it. Huge opportunity again lets see if they can "seize the moment"
Thank you Fishhunter. I could not agree with you more.
I do believe Ferris should step down and take the role of CTO with the same salary and bonuses plus give him more future incentives when the company hits milestones.
Put in a great CEO and this company's stock will fly to $50+. It would make everybody rich, including Ferris, the current BOD will not make money as they always sell their shares.
you are correct twister. the only true answer without a board member is to put a group together with a 10% shareholders and start requesting information and making Roberts and the board members lives miserable.
what we would have to give up is a NDA, SEC filing, and restrictions on our ability to trade shares. the good part is we, as a group would then have some leverage plus we can file with the SEC the same thing that Ferris file to be able to trade our shares (forgot what it was called).
I am on the fence about that but its a possibility.
I would vote for a true shareholder outsider if one wanted to be elected