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This was always just a lawsuit disguised as a company. Right from the beginning Wade and the initial founders tussled in a lawsuit which set the stage for 22 years of conflict, lawsuits and utter failure.
This will drag on for another few years
Probably just a bunch of incoherent gibberish anyway
All I know is that his appeal will be another excuse to not get this trading again. The ultimate goal was to be a public company again, right?
No, please post.
Wonderful, he screws the shareholders again. This should delay re-listing on OTC for another year or two, correct? Hey Wade, if you’re reading this do something good for shareholders for once and throw in the towel. This could be your swan song.
A progress update on this issue would be nice
Is this new?
Many shareholders have asked when will VCSY’s stock will be trading again.
http://www.vcsy.com/faq.html#collapsetwenty-seven
VCSY is currently seeking funding to cover the costs of the audit (plus the first and likely the second quarterly review of our financial statements. In connection with an audit, we also need to have funds to pay employee’s salaries as well as other ancillary costs associated with the audit and as well as the application fees and costs for listing on the OTC Link (aka the Pink Sheets).
Realize that the company has to balance the need to successfully prosecute ongoing legal proceedings with the need to get VCSY common stock in a position to trade on the Pink Sheets.
For those shareholders wondering when the audit will be completed, realize the company has to have all costs covered before an auditor can be engaged (that is one reason why VCSY often filed late). The auditors will need some time before we will have a sense of when the audit will be completed. We will update our shareholders but only when we have a clear sense of a timeline that we will be able to meet.
In sum, we are working to raise the capital required to get the stock re-listed and we appreciate your patience.
What sounds great, an unrelated youtube video? Looks like RLH was on a drunken posting bender last night.
Wouldn't you be able to get that information with your connections?
But the last 10 or so years was so much fun if you played it with the right tech stocks. It will be nothing short of a miracle if they get this trading again with the trail of destruction Wade left behind.
It was easy money for great companies with great products and strong management teams, none of which VCSY possessed.
Without the Fed supporting the market like it has over the past 13 years with massive QE, who knows how low it can go. Feeling like 1999/2000 all over again.
With the current market conditions maybe it’s better this doesn’t trade for a few years until Trump is re-elected, fires Fed chief Powell and pumps the market back up with his tweets. Ahh, the good old days of 2020.
There was a ruling in the lakeshore case last week but nobody seems to know what happened. Or they do and don't want to report bad news?
You could have wrote it off as a loss the day it stopped trading
I suspect a few thousand Vcsy shareholders trapped in this stock would prefer a better thought. It’s been a year and a half since the SEC revoked the registration. More than enough time to get this trading again, I think.
Why would you think that? The company has not stated any such timeline in the publicly available FAQ.
Very Disappointing if it’s another year or two before this trades again. I think the longer it’s not trading the less chance it ever trade again. Hope I’m wrong.
Then we owe him a “Thank you” and hope he and others involved get paid back one way or another. Maybe they can use their influence to get this back on the OTC trading venue.
Look at the vcsy homepage.
http://www.vcsy.com/
VCSY currently markets the following administrative software products:
emPath®, a payroll and human resources solutions distributed through its subsidiary, NOW Solutions, Inc.. Empath® meets the needs of medium and large entities and is licensed as an in-house or a cloud-based solution.
Do you consider rlh a credible source?
Not sure how the rumor of getting his shares back got started. There's nothing the company has stated publicly in the faqs that indicates such.
Must have not been a settlement
The updated faq posted yesterday about the case doesn’t say anything about getting Wade’s shares back
There are always trial dates set, but a settlement could happen at anytime
A few thousand shareholders hope you are right.
If you're willing to pay, you could get the court documents on this Lakeshore case from Trellis or the LA Superior Court, and possibly Pacer.
Hopefully the Lakeshore suit worked out in V's favor. Didn't they have about 25% interest in Now Solutions from the bad deals Wade did with them?
If this Lakeshore case is settled, wouldn’t that be the end to all of the lawsuits outstanding? That would be a positive development worth announcing to the shareholders of this privately held company.
Must have been a settlement
Kona, looks like Elon is interested in an encrypted messaging capability for Twitter
Twitter DMs should have end to end encryption like Signal, so no one can spy on or hack your messages
— Elon Musk (@elonmusk) April 28, 2022
Was there an agreement or settlement with Wade to get his shares back?
If it's bad news, you will be waiting a long time.
Rlh will clear things up. He knows all.
It was just a hearing and doesn’t look like anything happened, at least from what I can see on this site
https://trellis.law/case/19STCV15381/LAKESHORE-INVESTMENT-LLC-A-CALIFORNIA-LIMITED-LIABILITY-COMPANY-VS-NOW-SOLUTIONS-INC-A-DELAWARE-CORPORATION-ET-AL
Date: April 25, 2022
Type: Tentative Ruling
Description: Case Number: 19STCV15381 Hearing Date: April 25, 2022 Dept: 39 Lakeshore Investment LLC v. Now Solutions, Inc. Case No. 19STCV15381 Defendant Robert Mokhtarians Demurrer to Second Amended Cross-Complaint
Not sure if this is accurate. Thought I’d share.
A Ploinks crypto p2p payment system would be something interesting for shareholders