VLDI signed license agreements before in 2006, 2009, and 2010 with VARs. They all went nowhere since no one has produced ongoing revenue for VLDI. Two of these agreements are still on the books since they were never taken into revenue. The other one was reversed, since the VAR never paid VLDI. Signing agreements with development stage companies like Ganthet and development stage products like the ISV simply do not cut it. The ISV was supposed integrate in Q2 and it did not, soon Q3 will be over and still no sign of the ISV integration.
The license agreement with Ganthet is with Bruce and it is a total sham. No positive cash flow just the retirement of debt that would have probably never been paid back anyways. VLDI 10% convertible debt has been in default ever since 2008 so the only way these guys ( Bruce and his relation) can get there money back is by acquiring a messaging App developed by and paid for by VLDI and a channel partner. Then Bruce takes cash back for debt instead of converting it into common to the tune of $518,000 BTW much of the debt was converted into preferred and the preferred Bs on the conversion were given almost twice the amount of preferred shares in relation to debt. So if they originally had $400k in debt in now become about $800K in preferred and the retirement of half at $400K still leaves the original amount of $400k after the deal. BTW if the debt was inconsideration for a purchase then it would have been properly classified as such and not mysteriously appear on a sale after the fact.
So far no intelligent or successful professionals have step up to the plate after testing the product only the Ganthet Sham and a ISV development stage product and also three prior VARs. So why can't VLDI sign a single real client with a commercialized product. It is so illogical that a cutting edge radically innovated product is having such a hard time making a single real sale! The competition with their so called mediocre products are making sales all the time.
