Viscount Systems (VSYS)

[nynewbie]

Hi Ted. If you follow my vsys posts you'll notice that I actually could care less who the CEO is and if the new guy had done a good job I'd be the first one to pat him on the back here. The stock is trading at about 50% of last year's high and that's the only grade that matters. In addition I believe he was stretching things about all the cash he has because the financials tell a different story and the burn is scary. The new board appointment points to my concerns being quite accurate but as I noted this may be good for investors.

I've never posted anything here that wasn't public knowledge. I recall that the post about Immigration was simply that vsys had released the client name initially and the the IR guy ( I called the CEO on occasion and it may have been him and not the IR guy) told me that Immigration called and requested not to continue naming them until officially approved higher up.

Other than that I know little more than the next guy but I never invest in OTC stocks unless I at least know someone who knows someone, usually pre-ipo seed stock. My someone got me to buy stock in vsys quite a few years ago when it was in the dumps. This wasn't because I had faith in the CEO but because the company was trading way below liquidity value at the time. The market cap had dropped to under $750k. My buys averaged around .03 so since I've been in the money I kept a chunk of my vsys as one of those potential homerun deals.

Hopefully this Q will be the belated big Q. The old CEO told the same story at times but I did have faith that they kept overhead low and wanted to expand through growth. This new approach of hiring in order to expand is not necessarily wrong but I think they should be hiring at the bottom not the top. Having a stable of VP's has been shown over and over to be dangerous and when they first started I assumed they had the contracts in the bag to finance this and it doesn't appear to be the case = ugly cash burn.