Viscount Systems (VSYS)

[nynewbie]

I just listened to the audio file. Their top line was good and bottom line not bad but I just can't see why every investor presentation turns into a list of excuses and shooting from the hip baloney. It simply hurts corporate credibility and since there was no safe harbor statement is also dangerous legally.

For example, they had $1.9M in cash at the end of Q1, $1.3M at Q2 and $680k at Q3. Since they are burning a consistent $600k+ per Q how can they claim they will not need to do a raise for a year unless their sales hit approx. $2M/Q for Q4 since the trend shows they'll be strapped by year end. Someone should email the CFO or IR people and find out where the CEO gets his math.

Good to see they are bringing in a respected IR firm since the company listed as IR, Secure Strategy Group can't be doing much of a job with the stock tanking. The excuse that ex employees are dumping shares and hurting the price is all the more reason to do proper IR. After all, I read somewhere that IR is about bringing in buyers. For the CEO to say there is nothing he can do and that investors should just suffer left me bewildered.

Still waiting to see what contribution these new guys will make. Sounds like the guys that were already there designing government systems and getting projects are doing all the work and the new people are just a cash drain.