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I agree he’s not a typical OTC scammer CEO with typical pump/dilute/dump plan.
I admit I don’t know why he wanted to take his company public but he does seem like a qualified and hard working individual.
https://www.instagram.com/p/C6jMhCtgZEn/?utm_source=ig_web_copy_link
I said that the share price dropped at the end of September without any news, and only the company would know that revenue dropped from $2.5M to $850k
Can you disclose if the company sold any shares?
I basically asked if there was an insider trading..
Really frustrated.
Did you not see the payments from public school systems to VeeMost Technologies in NJ, OH, TX? This is listed on the schools websites and records.
LinkedIn reviews from ATT and FIT Technologies workers of Melvin Ejiogu dating back prior to JPEX and GDVM.
2014 magazine discussing VeeMost business?
Is the internet too hard for you to use?
The company moved their main office from Akron OH to Red Bank NJ
This has always been the case. Was described in the merger PR.
OS shares: 368 M
AS: 850M (this was reduced from 1.5 B I believe).
He can only convert 482 M shares to OS if he wanted for acquisitions or other purposes. Which he has not done.
Yeah I agree. Frustrating to see. With Q1 and Q2 alone I would like to see SP hold steady here or at least stay between .02-.025 range.
His email is publicly available with a google search.
I find dilution to be more scam-like behavior than a pending shell risk status.
HIRU, HMBL, DPLS.. can go on and on with OTC stocks that are not shells.
Aaaaaand order is gone. Spoof!
And timed right after a bid whack. Lots of duplicate trades on level 2 today.
Veemost CEO continuing to network and get the company’s name out there:
https://www.craincurrency.com/family-office-management/uncovering-cybersecurity-challenges-faced-family-offices
He is working on bringing more revenue in like he did at FIT.
Does this change the shell risk on OTCM? No. Did he tweet his response via email to me? No. Am I worried about it? No.
The advanced specialization certificates need to be renewed annually. So the certificates granted in Nov 2022, are valid until Nov 2023.
The customer experience specialization was granted Jan 2023, and is valid until Jan 2024.
Will do
Lol, if I was going to fake a letter to pump the stock price - I am pretty sure I would come up with something better.
With that being response and all the DD that I have done, I am going to pick up more in the .02s
Good luck
Not here to pump, just to reiterate nothing has changed. I surprisingly received this response from Melvin via email when asking for updates and PR:
Hi _____, thank you for being a shareholder. I am aware of the sentiments within the OTC market at the moment, but the truth is that I don’t control who buys and sells the shares, hence I don’t control the price of the stocks. I will share an update when there is one, not because the stock is down. With the last quarter that just ended I will include a post on forecast so that investors will know what we are working on. I will also give an update on Cusip when I have one.
This was my calculation based on Q1 from a post earlier in August:
Net profit is $900k a quarter, may be more annualized, but can say $3.6m. We
So PE of 10 is $36 M market cap or nearly .10 PPS, PE of 20 is nearly .20 PPS.
OTCM PE as a whole is 21 or so… https://ycharts.com/companies/OTCM/pe_ratio
Been a big gut punch. Though I invested only what I’m willing to lose - it’s a lot. Same with JPEX.
But no news, and no buying, just selling… all the excitement beforehand has fizzled out.
Still think The DD holds truth and everything I could find about the company is legit. Just think the hype and Twitter pumping before and shortly the merger drove this up twice… a lot will be needed to recover.
Been a big gut punch. Though I invested only what I’m willing to lose - it’s a lot. Same with JPEX.
But no news, and no buying, just selling… all the excitement beforehand has fizzled out.
Still think The DD holds truth and everything I could find about the company is legit. Just think the hype and Twitter pumping before and shortly the merger drove this up twice… a lot will be needed to recover.
Remember the tweet about $900k revenue in ERATE contracts? $116k from Wildwood NJ schools:
Page 6, point A12:
“ **A12. Accept and Award E-Rate Bid: Access Points
The Business Administrator and the Superintendent recommend:
that the Board accept the e-rate bids submitted for wireless access points and award bid for same to VeeMost in the amount of $116,451.00, in accordance with the attached bid evaluation matrix. The district will receive reimbursement for 85% of the cost of the project through E-Rate.”
Source: https://nj02210961.schoolwires.net/cms/lib/NJ02210961/Centricity/Domain/4/2023March15_FINAL.pdf
The company is real, revenues are real, so much is verifiable. I’m here to find out how much this company can grow. Would love PRs and more communication from CEO, but all the DD is there.
Single day volume with the .10 drop and .135 drop were around 60 million each. That was a long time ago… would not make sense that Melvin is dumping shares now as opposed to then.
I am holding my shares and seeing this thru. Deep in red now but I’ve got what I’m willing to lose invested.
Unfortunately need volume and good news to slow and reverse the walk down.
On level 2 this morning the same ask of 69k and 10k shares went from .035 to .032 right after the .0306 bid was sold into.
Someone didn’t want it to even bounce back to .0393… watching level 2 the bid got hit at 037 and the 0393 ask was undercut with 038.
Likely does.. there was an audit by third party and Cisco when they achieved Customer Experience Specialization. This may have included financials… but seemed to focus more on validating their service model and customer feedback.
https://www.globenewswire.com/news-release/2023/02/23/2614675/0/en/VEEMOST-TECHNOLOGIES-HOLDINGS-INC-ACHIEVES-CISCO-CUSTOMER-EXPERIENCE-SPECIALIZATION-CX.html
Thanks for your thoughts. I am not worried about it at all.
I don’t have a good reason as to why it is still designated as “shell risk” on OTCM. Plenty of filings clarifying it is no longer shell and merged with a legitimate company.
It seemed that the CEO planned carefully for a clean shell making sure it was PCAOB audited.
See page 10: https://www.otcmarkets.com/otcapi/company/financial-report/325690/content
I looked up Robert Hymers when I first saw his name on the filings. I agree he probably made a mistake as a 27 yo CPA working for a spiraling retired professional athlete who lost all his money… but it seems like his accounting firm is real and has been for many years. Maybe a little slow and responsible for delayed quarterly reports.
Cisco has Veemost listed on their Partner locator. After Melvin bought the shell GDVM and before it merged with Veemost, Cisco updated their website to include Customer Experience Specialization under Veemost profile.
Melvin’s LinkedIn has many comments from ATT and FIT Technologies dating back to 2010.
This article about Veemost is from 2014 https://www.cioreview.com/veemost-technologies
Ok… that was a waste of my time explaining this. I’m pretty confident shareholders who did their DD can see you spreading misinformation. The share price is way lower than it should, some people are patient others are frustrated.
And no notes, no debt, no dilution.
1 year ago OS was 3.5 B and not merged with VeeMost.
Net profit is $900k a quarter, may be more annualized. We will find out soon. So PE of 10 is $36 M market cap or nearly .10 PPS, PE of 20 is nearly .20 PPS.
Nope. JPEX shareholders all got Hovendicked (the name of the previous shareholder that screwed the merger was Hovendick). Frank the custodian also screwed it up.
Melvin found, purchased majority shares in a dead GDVM ticker and reduced AS by 90%. Almost a year ago now. He merged VeeMost into GDVM in February. He renamed GDVM from Global Developments to VeeMost Technologies Holdings LTD.
Not sure what the hold up is with FINRA and CUSIP change is but I’ve not lost any sleep over it nor do I think it changes the legitimacy of the merger or the financial reports that have been posted and will be posted in the future.
Patiently waiting for this to take off too (which it will).
But from what I can tell, NVDA is following the Cisco model for IT and cybersecurity, except for AI. They are probably trying to increase revenue streams through creating AI and cybersecurity packages that companies like VeeMost can customize and tailor to their clients (and rake in more cash). Looking forward to the partnership and what VeeMost has to offer.
An IT company like VeeMost started in 2002 helped companies adopt digital information systems from paper, from intranet systems to internet systems, transition local data storage to cloud storage and secure digital data. He’s kept his company modern with the changing technology and seems to be forward thinking about incorporating AI. Clearly a long term outlook but meanwhile making plenty of profit with business as is.
Just my thoughts. Looking forward to Q2 and beyond!
That’s probably high. Based on Q1 - annual revs probably in the 10-$15m range, but importantly annual net profit maybe 3-$5m.
Granted any new contract can change that. And cisco gold or a new partnership announcement will send this.
Invested heavily as well, and money sitting here and not in tech stocks returning to ATH definitely hurts. Just being patient seeing this through.
Cisco gold is the ultimate catalyst. Whether that’s a long term or short term catalyst, who knows.
Meanwhile, the company has solid numbers from Q1 and growth potential.
Good luck as well
It’s even inconsistent on TDA. When I look up quote it shows Global Developments, when I search symbol it says VeeMost.
Apple Stocks app shows VeeMost.
I guess my point is that GDVM approved the company name change and filed it with Delaware as previously stated.
The CUSIP number change which seems to involve more regulation and has different implications as seen online and in this thread is a much longer process.
If you’ve followed this stock - there has been continued doubts and fears but the company has proven it is clean and the CEO eventually takes the steps in the right direction (usually quietly and not on Twitter). All that being said it is the OTC, volume is low, and current PPS is rough.
Company name change happened a while ago shorty after the merger announcement, see the name of the company here:
https://finance.yahoo.com/quote/GDVM/
Unclear why this hasn’t taken effect on OTCM website.
The CUSIP change is dependent on FINRA’s review of the company’s application, which I interpreted as them having 180 days to process.
Agreed… share reduction, executing merger, maintaining and adding Cisco specializations, posting profitable quarter - all speaks louder that pump tweets.
I’d hope not - no way to enjoy a holiday! Cheers
Thanks for pointing out.