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Sooooo....based on the recent success of the “salami picks” when will that sleek guy be putting out his next winner??
All you have to do is look at all the “salami” stocks and destruction that was left in there wake...
I was PM’d over year ago about MJ** ..another OTC co the head Salami guy and his team blew up with big losses for the followers.
A few of us tried to warn everyone, but sometimes you have to lose in order to eventually win.
Waiting for the “Salami Team” to update the board on bid repopulation, If the PPS is still a steal at these levels, “Mitch” and his follies, hemp planting season, ect.
Sure miss those endless stories..
There really wasn’t any data available pre RS or data to be released that changes the fact VATE was a typical OTC stock and colossal failure from the beginning..
Go figure..questions AFTER the blow up.
I posted this on 3/19/2020...
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“FYI..Major issue now is maintaining the bid of .01 and QB status..once that’s lost you get into discussions of RS in order to prop up price..never want to see that especially in OTC world”
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Based on ceo letter—rinse and repeat..41.85mill shares? Wow.
My sympathies for all that were advised into this stock..
Going forward chalk it up to experience and move on.
Avoid the OTC, it’s a wasteland of companies and promoters.
Do some research and you will find good opportunities in the Naz and nyse that can make you money.
Straight from the boiler room..boiler room scammer..yep, that’s a good way to sum it up..
Typical OTC stock..
I believe you were pointing out how bad the co was pre-split....
“That's fine. But a company that sells @.0023 pre R/S split is not a good company”
“The market place is saying this is not a good managed company or has a future”
Exactly ..now your seeing the light.
??- VATE/D has/had convertible preferred shares which is another form of convertible debt. It’s dilutive to the common and I would wager that whatever form the new company takes there wil again be plenty of convertible preferred shares because that’s how a typical OTC stocks exists..
They need to sell shares in order to operate since there is little revenue coming in whether its directly ATM or to private lenders, insiders or service providers.
Sure-let’s look at facts;
Pps open 01/02/2019–.039
Pps close 12/31/2019–.0168
Roughly 60% decline in Pps
Still lower in 2020 ytd and down over 95% from all time high.
OS as of 12/31/2018–445mill
OS as of 13/31/2019–568mill
Roughly 30% increase in OS
the 2019 revenue was only $604k net...a not so good dry cleaning biz makes this type of annual rev.
I thought the best part of the annual report was the CEO salary and then he gave himself a bonus of 40k!granted that’s not much but what in the world did he accomplish to deserve a bonus? LOL..
VATE is a typical OTC co..think about who continues to be the chief salami and why he/she continues everyday to promote this and other co.’s while never acknowledging the reality....classic otc world...
$604k net rev for 2019? Ouch!
Typical otc stock and typical “salami” pick...too little revenue for current OS..weight of the shares crush price.
It just shows you how ridiculous OTC truly is... as this should never have been allowed to be a public co it just sells shares to stay a float...combine that with poor/rookie management you get PPS below .01
Know what you own..
Bad news—no revenue.
Past results are usually a good indicator of future performance...
Keep it simple..
By widening the lens, it’s clear the downtrend actually started in Jan 2018.
Your not wrong..I wonder if he received cash, common stock or preferreds.
Very odd.
It’s trading below .01...period.
Your complicating the formula...it’s all about revenues.
The market doesn’t even care if you show a profit on those revenues.
Stocks will get rewarded for simply having a positive revenue stream relative to valuation. It shows investors that there is an interest, possibilities, future demand...ect
Based on past filings, VATE simply just continues to fail on all these metrics.
Change in metrics = change in trend.
“Can’t”
What do you want to him to say? You can report something you don’t have.
The spiral excelerates as .01 becomes tougher to get above and maintain.
Think about the increase in OS that will be needed to stay a float..something that took a 10m increase in OS last month would now be roughly 20mill due to PPS.
Again pot stocks up ...VATE down.
This one is in a 2 yr death spiral.
No meaning revenue or significant distribution agreements.
Go to legalandsecurities.com.
Securities law/otc-market-compliance
Scroll down to otcqb....
It’s a good read for anyone who invests in otc...
Hope it helps..
4th day below .01..this is the major hurdle at this point and time.
Longer it stays below equals bigger implications(problems)..new updated financial disclosures would soon follow.
Has about 1week to retake and stay above .01..otherwise.....
FYI..Major issue now is maintaining the bid of .01 and QB status..once that’s lost you get into discussions of RS in order to prop up price..never want to see that especially in OTC world.
This one is done....
#Salamis 2020
The overall track record would support that viewpoint.
Interesting..how many shares do you own?
??..VATE never participated when the market was going up. It’s down over 90% from its high..
The co has little to no revenue because no one is ordering any of the product in a meaningful way and it has to sell shares to stay a float.
So yes...the problem is VATE.
Know hat you own...
Yup..it’s one thing to have sector related ups and downs and your a thriving, revenue generating co..but it’s quite another thing when you no business coming in the door and no real prospects to speak of.
Also what real pressure does the CEO have to perform well? He makes a small salary and has authorized shares up to 1 billion if he needs additional cash for operations....a consistent theme with these “salami” stocks.
This really means nothing..if orders were being done along with meaningful revenues being confirmed, I think VATE would have announced that.
The fact that you don’t hear about orders, reorders from the various distributors signed up or actual revenue numbers should tell you all you need to know...
Marketing is a small part of the problem. It’s obvious there is little to no demand for the product on a large scale. The coffee was an awful flop and realistically how much tea can you sell at $3-$4 a bottle? the taste just isn’t good enough to attract a word of mouth buzz and generate meaningful revenue. No marketing can overcome that.
Combine that with 500Mill+ in OS, the overhang of convertible preferreds and you get the stock price you see.
Typical otc stock...
If you rely on gov for your investment performance your going to lose all your money.
Even if/when refs get clarified..VATE is still a company that faces many issues..
Until the co proves it’s worthy of investment..it’s not.
Follow that logic and better your odds of not losing more money.
Well for one it’s a “salami” just look at the others picks and can you see they have all been POS for almost 2 yrs..makes you wonder huh?
For VATE specifically ..
no/little revenue..too many shares OS..product/shipment delays..which all reflects on poor management.
Hence the dilution to stay afloat, insider dumps and no retail support..
Surprised people are just realizing the preferred shares that have been clearly on the books for a long time..of course they get converted.
Whenever someone has the bright idea to put up 6figure bids and they get taken out in big chunks quickly..suggests insiders with converted shares looking to exit..
Probably some retail at there max pain threshold as well.
Combined with the fact there is little retail support it causes downdrafts..
This continued drop really can’t be a surprise..the writing has been on the wall for months.
And the chart pattern has never broken out of the downtrend started last 01/2018...It’s stair steps up and the elevator down..
I don’t disagree with that view..
And if you follow that line..private co.s with private equity establish a revenue base before going public.
That’s the beauty of the otc you can bypass all of that and just sell shares to mostly unsophisticated investors who think they are getting a bargain..when in reality that bargain is overpriced to begin with.
Fact ..VATE down almost 90% from
It’s high..it’s not doing well.
I would assume you equate doing well by the value of your investment?
Need to show meaningful revenue..can’t show revenue without consistent sales..even if you achieve the first two, you can’t dilute the share base to the point of negating any positive steps forward.
This really has no relevance to the current or future share price of VATE.
If your relying on Gov to help your investment performance...your in trouble.
The Q2 “astonishing” fins report showed 315Mill tradable float and updated as of 8/7/2019.. but that’s in conflict with whats reported in Q1 and otc markets monthly update which is a higher float.
There might have been an increased adjustment to one of the preferred series that lowered the float. But odd they slipped in the 8/7 date in the fins that ended 6/30.
That was the major one.
52 week low pierced on above avg RVOL...
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Re: mjh4 Post# 41529
Generally speaking..The more often support or resistance lines get tested..the weaker they become.
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