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No one wants to buy a stock that isn't worth anything. The stock isn't cheap, it's worthless. There is absolutely no value in the company at this point.
I actually do own shares; I've been buying and selling VIDA since it was GTWO. It's a non-existent shell company now.
It went to .002 on a crazy buyer on one day and immediately fell back down, no on made money on that. I'm still waiting for your multi-penny predictions - just like all the other multi-penny predictors before you.
Boy oh boy, VIDA took off like a rocket :rolls eyes:. Guess you were wrong.
Boy oh boy, we're rolling in the dough.
There won't be any news other than paid news by pumpers.
When? Ain't happenin'.
Today or 1 1/2 years clearly weren't it.
Boy oh boy, VIDA is rolling in the money now :rolls eyes:. I know where that dump came from too (see the message in reply to line).
Why the heck would you short a penny stock, the losses could be immeasurable.
I took you a year ago and two years ago: I've been here since the beginning (back when they were GTWO) and I would be here to the end. Why am I here right now? Someone has to provide truth to investors that don't want to do their DD so they have an option to understand what they're buying.
Wow a whooping 25 cents were traded today! To the moon :rolls eyes:.
Right and because that preferred isn't going to be redeemed, there are dividends that are regularly owed. It's small buckaroos but it understates the actual value of the stock because your not dilluting the O/S for the preferred share liabilities.
Are you finally taking into account the preferreds? Because that's a lot different than "Stock is valued at .0272!" that was being spread.
Remember though, there is a face value on the preferred shares is callable at $3,377,817.30, which is old converted debt. Plus there are over 1/2 million in warrants outstanding.
Interesting how preferreds can hide how much in future liabilities are sitting out there.
Loading zone? Roughly $700-$800 traded today. Doesn't sound like a massive amount of loading to me.
Volume continues to drop, the pump is over, no one is buying into it. Vidaroo isn't going anywhere beyond where the pump take its. There is no fundamental value.
They have one or two ex-pro athletes that are "supporting" it because the company is giving their non-profits free publicity and money. Sounds like a net operating loss strategy to me.
Never said ti taken take $750 to reactivate.
Sounds like a lot of speculation to me - even more so than myself. Past performance generally a better predictor that some sort of crazy prediction that pumpers put out there. It's a dud.
Do you know SkyNet stock is worth $3 million. I don't even know if the whole company is worth that, let alone the portion given to Vidaroo.
To spend money on re-activating the stock would require money and employees. There is no one really working for the company and from what I can tell there isn't any money. Why would anyone even spend a dime reactivating an incorporation if they aren't going to do anything with it.
Many of us thought the stock might be used as a shelf stock for SkyNet to do a reverse merger. But, you would generally leave the incorporation active and keep filing with the SEC so you would have a cleaner road for the reverse merge, so that has come to past.
But, then again, I think SkyNet isn't worth anything, so I wouldn't want merge into that anyways.
When should I expect my multi-pennies? Sure looking like a dead-cat bounce to me.
Do you have proof SkyNet is worth $3 million in total, let alone $3 million in the stock that was provided? No. No at all.
It's a bit more complicated than that. "The entity’s right to do business is revoked as an operation of law and the entity status in our system is changed to “Revoked.”" That should happen sometime in June or so. Here's where things get complicated: technically, because the entity can no longer operate, technically the stock itself is supposed to be delisted from public trade and we would become private holders would have to deal with our claims in court. Now, whether the SEC or FINRA would enforce the "delistment" or even notice on such a small firm is a completely different story.
Now, what may happen is OTC Markets may change to caveat emptor or grey makret.
Never said they did, but when the company is dissolved, we have no legal claim to them unless we sue in court.
And, $3 million in stock of a private company who has no revenue and probably a ton of liabilities isn't exactly an asset. SkyNet is valuing their own stock at $3 million, we have no view of their books to place our own judgment of if the stock is actually worth that. I don't think it is because SkyNet isn't doing anything of value.
I dislike Legal Zoom, but it does a good job of explaining: http://info.legalzoom.com/happens-shareholder-dissolved-corporation-21095.html
And here's how Nevada handles administrative dissolution: http://www.nass.org/component/docman/?task=doc_download&gid=1523&Itemid=
See information below for Legal Zoom definitions
Administrative Dissolution
Some state laws require that a corporation be dissolved if it fails to adhere to state filing or tax requirements; this is usually referred to as an administrative dissolution. For example, in Arizona Corporation Commission will dissolve a corporation if it fails to file its annual report as required by Arizona law. Such a dissolution means that the corporation ceases to exist, typically without the shareholders' knowledge. Significant adverse consequences will result, such as the shareholders becoming personally liable for all debts and liabilities incurred in the continued operation of the corporation's business. Also, the IRS will treat the dissolution as a distribution of assets to the shareholders, despite the fact that the shareholders did not intend to dissolve the corporation and make a distribution. This will cause the shareholders to incur a tax liability they were not planning for.
Suspended Corporation
Shareholders who properly wind up the business operations of their corporation may still incur future liabilities if they fail to take all the steps necessary to dissolve the corporation. In most cases, the misstep occurs by failing to file articles of dissolution with the state -- which means the corporation still exists and must continue making its annual filings and payment of fees to the state. In states such as California that do not administratively dissolve corporations for failing to make these filings and payments, the corporation is suspended but still in existence. As far as the state is concerned, the corporation stills exists and must continue with its yearly obligations, which will continued to accrue with penalties and interest each year that goes by without articles of dissolution being filed. The shareholders will not be able to file the articles unless all back fees, penalties and interest are paid.
RichDude, to be a separate legal entity that holds assets on behalf of shareholders (public or privately traded), which is what a corporation is, you ARE required to be registered. You cannot hold assets as a separate legal entity if you are not registered as an entity in a home state.
Not being incorporated is the equivalent of being a community association that is a collective of people. That "collection of people" have no rights as a legal entity to claim assets and have no protection from legal liability as individuals.
This is corporate law 101.
At some point the state Nevada will automatically dissolve Vidaroo for no filings. From there, Nevada state law allows for claims to assets for up to 2 years after dissolution. Those claims can be made by individuals owed assets, but the claims need to be made in court.
In order to sue Vidaroo, there needs to be a legal entity. In order for there to be a legal entity, you need to be incorporated. If your corporate paperwork lapses and you are dissolved in your home state, you are no longer incorporated, no longer a corporate entity, and there is nothing to sue.
As far as dividends and preferred shares:
See there last annual filing. "1,650,693 shares of Preferred Stock and 575,161 warrants to purchase our Common Stock exercisable at $0.10."
Specifically, "Pursuant to authorization of the class of Preferred Stock the Entity issued 33,778,173 shares of Preferred Stock. These shares carry an annual coupon of 5% and are callable by the Entity at $0.10. The dividend is payable annually within 30 days of December 31. Should the dividend go unpaid, the Entity would be prohibited from increasing Executive compensation or paying cash bonuses under the terms of its settlement agreement with the previous holders of its Convertible Secured Promissory Notes and Promissory Notes Payable."
I actually agree with your technical/structural assessment: when you own Vidaroo the stock you own a holding company that is theoretically holding some SkyNet stock (if the IP purchase closed, presumably it did). We don't know how much SkyNet stock or what percentage of SkyNet that stock is.
I disagree with you on almost everything else:
- being registered as a separate legal entity is a requirement, even for holding companies. That's how there is a legal distinction between individuals and people. That's a fundamental fact of our legal system. Sorry buddy.
- If the company gets dissolved, that means the stock issued to us provides us no legal claim to stock.
- I think it's an interesting though experiment to think about what happens to the SkyNet stock that's in Vidaroo's name if the company dissolves. I actually have no idea.
- $3 million in "SkyNet" stock is what SkyNet values it's private company at. Private stock is notoriously difficult to valuate and its illiquid. For me to believe the stock is worth anywhere near $3 million I need an Q filing from Vidaroo placing a valuation on stock. They have missed all of their legal filings with the SEC so we don't have that. Now, if anyone as access to an income statement or balance sheet for SkyNet (we don't have those either), I would happily take a look at that.
- When you're doing your debt calculation, you're forgetting the dividends that need to be to preferred shareholders (which are also debtholders).
- You're forgetting about preferred shareholders when calculated the O/S and your theoretical liquidation value.
Basically, in other words, where you and I differ:
-Incorporation is required and cannot lapse.
-SkyNet isn't an appealing or company of any value, so that $3 million is self valued stock is worthless.
-You're forgetting preferred shareholder dividends
I've had the same opinion for 18 months now.
Wrong. SkyNet is a seperate company and they are a privately traded company. The software (the Vidaroo platform) is what SkyNet operations (or rather isn't operating since the site has been shutdown). Vidaroo the company and stock ARE NOT operated by SkyNet.
If you're so confident in this money making money, I have a little chunk of VIDA for sale at $0.003. You're welcome to come get it.
Keep on believe in fairy tales and unicorns, it ain't happenin'. Stock is just going up on pump, that's all. But, if you can make money from it, you should .
Website has said that for 19 months. The platform (intellectual property) was acquired, not the company and stock. The company/stock is still a separate entity and is no longer operating.
Care to place a timeline on it?
- Vidaroo was less than 20 employees. Skynet is the same size or less.
- The acquisition occurred 19 months ago at this point.
- You don't let your corporate paperwork lapse when you're looking to do a reverse acquisition.
- The three main players of Vidaroo have left the company and formed their own company and have even rebranded their the old Vidaroo movies http://www.goodtheory.com/
-- The video production portion of the company was really the only portion generating sufficient revenue and SkyNet didn't get any of that.
-- Vidaroo's office have been taken over by Good Theory
-- Vidaroo no longer has any employees from what I can tell
Legally, Mahala/SkyNet are in no way related to Vidaroo. Mahala bought Vidaroo's intellectual property and gave them some cash and stock. That's it; Mahala/SkyNet IS NOT Vidaroo's parent company. Vidaroo is no longer operating.
I visit their Facebook page once a month or so. They are pretty active on social media, but the product hasn't really done anything from what I can tell. And, with ApplePay and Visa pay products, there market is getting even more competitive from the 5-6 mobile pay systems that existed prior to ApplePay.
When should I expect multi-pennies?
There was no buy-out; VIDA's IP were bought and the company is no longer operating.
Haha, same to you. Someone has to fight the pumpers and make sure people know the facts. If folks want to invest in VIDA when knowing the facts, then more power to them.
They were not acquired, their intellectual property was bought and the company is no longer operating. Big difference.
I echo the other poster, show me the "full credentials" because the only "full credentials" I'm aware of are the Nevada corporate entity that is in default and the Florida corporate entities that have gone inactive.
I make a couple bucks here and there playing when people like Silver come and pump it.
It's just going up because it's being pumped. That's all.