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A bit of company history and hope for the future:
Prior Management starts with basically nothing and looks to build shareholder value by acquiring interest in AquaLiv - a company with a lot of promise, a great technology that is very revolutionary (IMHO), and a very ethical man at the helm of Aqualiv now Aistiva.
Management gets very close, but is otherwise unable to secure the funding required to properly fully launch AquaLiv product lines due to lack of assets, so shifts gears to identify merger candidate.
Introduced to Verity which has a good management team, synergistic products, and an equally promising future.
Verity performs due diligence and site visit on AquaLiv (and vice versa) and is excited about the combination of talents, products, and technologies.
Merger between companies completed 12/31/2012 according to filed and executed merger docs. Prior Management spends 4 months working with new management on transition prior to stepping aside. AQLV becomes VRTY.
The combined entity now needs to work together to secure appropriate financing, execute on the business plans, and bring healthy food and water to all people.
Prior management and current management alike both believe in and continue to support these companies....putting any segment down is counter productive. My only issue is for people to stick to factual data and not speculation on their part.
Go VRTY!
Correction...he is not listed under VRTY. The email listed in their filings for their PR contact ties out with the Rick Lutz email listed on OTCmarkets.com
http://www.otcmarkets.com/research/service-provider/Rick%20Lutz?id=5098&b=n&filterOn=2
That is what is listed under VRTY on OTCMarkets.com If its not they need to updated their information.
Someone get a hold of the company's IR guy and tell him to do his job. The email below ties out to the company's PR releases.
Rick Lutz
Investor Relations
1089 Dunbarton Trace
Atlanta, GA, 30319
404-261-1196
investorrelations@mindspring.com
Not defending just stating facts.
More than happy to leave you alone, do the same for us and talk about what is happening now not what happened in your opinion prior to new management. That would be great.
Pure speculation on your part. How can you know what Wright knew? I happen to know for a fact that he recommended against doing a 100-1.
We are in month 11 with new management...when are we going to give it a rest and focus on what is or is not being accomplished now?
Does this company have nothing better to talk about than what prior management is up to? At least prior management is making something happen and moving forward with their projects.
I don't see how what prior management is doing is relevant to this board in any way. Time to ask VRTY why nothing is happening.
BTW, next time someone speaks to the current CEO ask him how his cousin is doing.
Don't forget some simple facts
The Reverse Split was performed and authorized by current management after the merger. Had nothing to do with previous management.
The reverse split was performed and authorized by Duane Spader on Apr. 9th 2013 8K filing. It was current managements decision as to the size of the reverse.
The argument is irrelevant. The fact is the original deal was done at market and not as was previously stated.
The reasons stated for a portion of the transaction being unwound is purely speculation.
The fact that a portion of the transaction remained is evidence of it being a legitimate deal. And again one that Duane Spader approved and signed off on.
To back up these claims check the Form 10Q for the period ending Dec. 31st 2012. Filed on Feb. 14th 2013 and signed and approved by Duane Spader. Extremely clean deal by prior management. No discounts given.
Unsubstantiated claims once again being posted.
In response to the claim that there was a "highly questionable and insupportable debt conversion on ridiculous terms," The fact of the matter is the conversion was completed on Dec. 10, 2012 at market price.
End of Story...
Pure speculation with no facts to back it up. Wright remains an advocate for the company and has not sold a single share. This can be verified by contacting the current CEO who can pull a transfer agent report. Or...you can call Mr. Wright and he will show you 100% of his physical certs. Not one negative word against VRTY has been uttered from Wright, Bushnell or Stein.
The ex CEO has never said anything bad about the company and has always been supportive to this day.
As for the assertion that the ex-CEO is selling is completely false. I have personal knowledge that his shares are still in certificate form. He has every hope and has afforded them every opportunity to be successful.
First of all I am not an insider. I was involved with AQLV as a Director but resigned effective 12/31/12 as new management took over. I am just a shareholder now like everyone else.
Second I do not believe anyone got "whacked". The company worked very hard to increase assets, revenue, and opportunity. I think that objective was accomplished and you now have a company with $5M in assets, $2.5M+ in revenue, and I believe a whole lot of potential.
Third new management took over January 1, 2013. All control and decision were made by them from that point forward. The previous CEO stayed on at their request during the transition. With the major transitional points out of the way he then resigned effective May 1st, 2013 and is no longer involved with VRTY.
All this information is available to anyone in previous filings.
Current management took over January 1, 2013. Old management was not responsible for the filings between then and 6/30/13, but was there to support the transition. Make sure to check the facts before releasing information.
Referring to the increase in revenue is exactly why old management did the merger in the first place...because it was good for shareholders. That is not the move of a bad CEO it is the move of a CEO with the shareholders best interest in mind.
A trip to New York is great....now show the results of that trip and lets continue to discuss what VRTY is doing now not what may or may not have transpired in the past. Shareholders would prefer to see news releases from the company and communications like you see with other good companies. We have yet to see the transparency one would expect from the new management. Getting second hand information from posters on this board is unreliable at best. We shareholders expect results not conjecture and uninformed information about the past.
Why is the only argument that can be made to support this stock is to compare to the past? The past people upset with the past never had a stake in the game. They were simply there to push it down. If you go back through historical postings, you will find just as many people that made money through their AQLV trades.
My point is - the past is the past. The important issue is what is VRTY and current management doing with the company today? The prior management engineered mergers and acquisitions that have resulted in this current VRTY. It is up to the current management to take the ball and run with it.
If you support the company now, you need to support where it came from and what it is doing today - not yesterday. As far as I can tell, past management supports the company 100%. I have seen nothing to think otherwise.
After much thinking and watching all the speculation and negative talk I decided to speak out and tell the real facts as I know them being previously involved with this company and so in full disclosure, I was a former director (under AQLV) and current shareholder of Verity. I have a working relationship with the former CEO and actual knowledge of events that have taken place.
First off, the previous CEO has nothing bad to say about Verity Corp or their management. He has never spoken negatively about them and has always been available to them for calls to him regarding historical information. Given the negative comments that continue to come at him, I am surprised that he continues to take the high road, but I think that says a lot about his integrity.
Let me take you back 3.5 years to when he took over what was then known as Infrared Systems International (IFRS). That company had been run by another CEO. Interestingly, he said that previous CEO got beat up on the iHub boards and was accused of selling stock, etc. but said that was never the case. He said that former CEO of IFRS was professional and worked with the new company when at all possible to help the company and the shareholders.
He then took a soon to be zero asset company (based on the agreement that the IFRS sub was to be spun out - this is all in the filings) and began laying the ground work for acquisitions and growth. This brought him to an introduction to AquaLiv, a biotech company run by another party. His opinion is that the Aqualiv technology is amazing (and I concur having used the products myself) and that the Aqualiv President is one of the best people he has met or done business with (again I agree with him).
He freely admits that the downfall was the inability to secure adequate financing. The company had a large funding commitment a few years ago that was backed up by a larger farming group and a conglomerate of other businesses. However, in the end he believes the deal had too many moving parts to be completed. Because of this he started looking for an acquisition with assets and revenue that would be aligned with the vision of Aqualiv. His opinion was that Aqualiv did not have enough assets to secure the financing in the market.
This lead him to an introduction to Verity. He was impressed enough with Verity's business model and management team that he believed a merger would be in the best interest of the shareholders (I concurred). I was also evident that Verity recognized the value in the Aqualiv technology and wanted to ensure that was part of the deal moving forward. After evaluating all things, the conclusion was this was a good step in the evolution of the company and that it was necessary to help secure current shareholders. As part of that transaction I resigned from the board to make room for others and so that I could focus on new endeavors. The prior CEO was to remain on and take the new company through the merger and filing processes, which he did without flaw. I can attest to the number of unpaid hours he spent working around the clock working with the company and vendors to get things completed on time and properly.
I went back and traced the stock price from when he took over until today. I found that after accounting for the forward split that he performed 3.5 years ago and then the large reverse split that Verity performed post-merger, that the stock price is relatively the same today as it was 3.5 years ago. The big difference seems to be that now the company has $5m in assets and $2.5m in revenue. The only problem I see is that the current company runs in a negative and does not seem to be communicating anything to the market compared to previous. Other than that, it seems like all of the positive moves for the public company came from the previous CEO.
I think the current company needs to spend more time working on the current business and showing investors what they have done lately, rather than compare to what the past looks like. From what I can see, if it was not for the moves made by the previous CEO, there would not be a company to be talked about in the first place.
If you have any questions about this post feel free to private message me and I would be happy to answer any question you may have.
www.aqualivwater.com
Just wait and see...
You my sir have no idea what you are talking about.
I know Mr. Wright and you are all speculating and making false accusations. This is the same false statements that were made against the CEO prior to Mr. Wright - Gary Ball. Everyone claimed that Mr. Ball was a slime ball and was selling shares. The fact is that Mr. Ball sold very little to no shares during and after his being CEO.
The same holds true for Mr. Wright. He ran the company for 3 years. During that time he started with nothing, merged in Aqualiv (n/k/a Aistiva), merged in Verity, and kept the stock price in a range that eventually settled at the same price that he took it over (if you account for the forward and reverse splits).
Now everyone is hurt over the fact that Mr. Wright has shares and claims he has been selling. These are the same shares that he bought and paid for - none given. I know for a fact that he has not sold one share, if he had he would had to have filed it with the SEC as a reporting entity. All his shares are marked as "control shares" and not one has hit the market. Additionally, look at when the preferred shares were issued......after the merger and approved by new management. He did not give the shares to himself as everyone is speculating.
So stop speculating and making false accusations. The fact is, this is a company in a small cap market and in case you have not noticed, it is not easy getting things off the ground out there. If you like the Aistiva technology or you like the Verity business plan, why would you be pissed at Bill Wright? He is the one responsible for bringing them into the fold. If you are interested in the company, give them a break and the time needed to get something done - nothing happens over night like you would all like to see happen.
CGRA Take a look...
Mr. Spader has been the CEO since Jan. 1. They have had months to prepare the Q. One can only hope this is not going to be the trend for VRTY.
I thought the IR guy said they would be filing on time? What happened to this?
Jason Otteson - Noble Mining - Bill Wright - CEO of Cgrowth Captial - Join the Show | George Jarkesy Radio Show http://bit.ly/XsMrWl
www.aqualivwater.com is where you get the water system.
Wouldn't that be fantastic for this board! One can only hope.
I think your going to see strong support. AQLV is the real thing and so is Verity Corp. Been in business a long time.
I'm not disagreeing I Just don't think it matters. Even if they did do what you said at anytime in the future they could increase the A/S anytime they want. Its really insignificant in the long run especially if they get their funding and increase revenues which I am confident you will see this year.
Some have no idea what they are talking about. Mr. Spader is a seasoned businessman. He is not doing this for short term profit or deception of any kind. He us all in to take this company to success for all shareholders and if any of you would take 10 minutes to look at him and his history you will see he means and does what he says and It will pay off nicely for all who stay loyal and believe.
Very good information and is the war Verity is fighting for everyone.
Not the case here...
How about pointing out some details instead of generalities please. Please be specific.
That's interesting...you can spin your statement however you want but the fact remains the Q is correct and it does get audited remember. Don't think you really know what your talking about.
That statement is completely inaccurate. Total assets = total liabilities + stockholders equity(deficit). This is accounting 101 and the numbers are represented accurately. Kudos to Spader and the AQLV team for a very up to date and well put together Q. An investor personally may not like whats in the Q but it is accurate.
Really? Facts? Show us.
I understand the questions. The company is not required to disclose that information. What does it matter when the property was originally acquired by the company and what its worth now? The auditor will have to verify that in order for it to remain in the 8-K/A.
It still has to be audited. Unless u are gonna claim the auditor is somehow crooked? Why wont u take my challenge in public?
Wait for the Verity audit. They cannot put it on their books without backup for the auditor. I bet they show up. If I'm wrong I will never post again...you up for the same bet?