BVTK: I asked this hub, why did Tom allow the fins to lag. Here are 2 divergent answers, paraphrased, which I received. Your thoughts:
1. It was wise of Tom b/c the company was such a mess when he took over, getting current would have been 'a waist of money'. 2 or so years later things have changed and 'deals are coming together'.
This person feels 'it's all part of the plan' and Tom is a trustful person.
2. Person 2 feels: Tom has destroyed BVTK, formerly ECRY, which put out similar messaging in 2014 such as: ' "Ecrypt being sold....etc. etc. "
This school of thought continued that Tom relied heavily on toxic death spiral financing and all the promises 'did not materialize'. In short revenue never 'outpaced the debt. The stock was diluted a lot, so much so that 'two reverse splits were needed to get the stock to be liquid enough for the remaining notes to convert.'
He continues that Tom did not inherit a mess, but instead created one and what's happening now looks 'eerily' what happened with ECRY.
He adds that it's a bad sign and does not look good on Tom that he could not secure traditional financing.
Finally, this school of thoughts adds: so many participants on this hub believe a big deal is about to happen, but if so 'it would have to be in the filings' He states: "If he could secure massive revenue and cancel out the toxic notes before going current, why would't he do that? Obviously, he doesn't have the money to do that.
He said, "I'd be terrified of this company going current. They are absolutely buried in debt. Note holders don't care about the share price. They can convert immediately once the company goes current, killing the share price, there WILL be heavy dilution. The question is... will there be some massive development at that point that creates enough buying pressure to offset it"
Which point of view do you believe? This really speaks to your position re. BVTK. Is Tom about ready to knock one or more deals out of the field, or is this the same old, same old and we should look forward to getting wiped out like previous investors? Important!!!
