Well, today marks the end of this (cough!) fun run for me. I scuttled all my VSPC shares today and took my loss.
I should have dumped this stock years ago. But I held on. You know, because at some point I wanted to believe management would get it together.
I bought it back when it was defense and JPL juiced. I should have known when they took a sudden turn to grass art that something was amiss. I mean - the one rule about running a successful business is focusing on what you know well. Not that you can't change course, but it seemed out of left field.
So I justified it to myself. "Maybe these scientist/business types are just playing 3-D chess and there is some angle related to their core competency that I in my simple mind do not understand," I rationalized as I waited for the next press release. When they cooked up the alternative energy idea, I got back on board, thinking, "sure, I guess those rocket scientists have this figured out after all."
But when they unveiled their brilliant plan of licensing grass, or whatever the heck it was... I grew concerned. How would you make a profit off of licensing grass? But I held on. I had originally invested at a whopping $0.032 per share. I couldn't jump yet, because surely it has to go up? Right? I mean... right?
But nope.
Oh a few ticks up now and then to get the ole hopes up, but I began to see a pattern that resembled more of what I have come to learn as the pump and dump. This was a paper printing scam, and all of the investments and partnerships were most likely contrived just to stay off the SEC's radar and keep the cash flow coming from all of us.
When they went the CBD route, for one moment (especially when the stock roared up to a whopping $0.005) I thought maybe I was wrong. It was intoxicating to think it could go higher, and I had made this irrational commitment to stay in until I at least broke even.
Man, was I an idiot. This had Looney Tunes written all over it.
No progress, only hot air. The pattern was so predictable: a release comes out, and then a bunch of shares being redeemed by the management. Apply. Rinse. Repeat.
So I decided it was time to take my bath. I had sullied myself long enough wallowing in the shame of my bad decision. I came back for the negative comments, somehow hoping to exorcise my naïveté. But enough was enough. I needed my self-respect back.
No more lies. No more fake press releases. And more importantly, no more lies to myself.
More than ever I think one should invest in a company that not only meets their due diligence criteria, but also focus on the management and leadership. Track record of deliverables, and accountability for how when things don't work out according to plan, are key for me (or will be going forward).
I no longer want to support this company, especially the management. I do not want to have any more connection to it.
So I bid you all adieu. Thanks for all your comments on this forum. I have enjoyed them.
My wish for Rod is that he finds the help he so richly deserves, and distances himself from this sham of a company.
My hope for the management is that they will have their opportunity for accountability.
I will never regain what I have lost financially from this company, but that is just the chance you take: Nothing Ventured, Nothing Gained.
It has been an education. A painful one, which is sometimes the best kind.
And, finally, I have but one last message to this Looney Tunes company:
"That's All Folks!"