"A shell corporation is a company which serves as a vehicle for business transactions without itself having any significant assets or operations. Some shell companies may have had operations, but those may have shrunk due to unfavorable market conditions or company mismanagement."
(from Investopedia)
I think we can all agree to VGTel suffering from at least the latter part of this description of a shell corporation. Some might argue that the first applies as well. Obviously Mr. Durante took VGTL for a ride. Mismanagement, at least up until when Amilya was hired as CEO in the middle of this year had plagued VGTel and the stock price. And now we haven't heard anything other than the latest 8-K where she indicated there were "significant remaining ongoing challenges." However, she also said that management (whoever management is now) was working on the correct strategy and that they were sketching out a solid business plan as well as acquiring financing for the existing debt.
So the question really is, has anything changed since that last 8-K that will effect the outcome of VGTel? Apparently, there is some question about who the President is or will be, but does that change the business plan or the outworking of it? Probably not as the CEO is perfectly capable, with the board's approval, to get rid of or hire whoever is necessary to carry out the plan. It would be nice for us as shareholders to know the inner workings at the management level of VGTel, but it's not required. Does Apple or Intel let the average common stock shareholder know the inner workings of their corporate staff meetings or decisions. No. They report their earnings and the general direction of the company through filings. As reported in their 8-K, VGTel is working on an audit and filings.
It seems like the real problem many have is the amount of time that has gone by without any official news.
So, what's the normal amount of time a business, involved in a "restart", should take before making a report to the shareholders?
This question is directed to all of you penny stock players who have actually been hired by a faltering company as the new interim or permanent CEO to turn it around, and succeeded.
If it's too long of a wait, take your money and run. If you've lost money, you're not going to help your situation by posting negatively if you still own stock here. If you're just disgruntled, well, sorry but there's no hope for you.
