InvestorsHub Logo
Followers 3
Posts 367
Boards Moderated 0
Alias Born 01/31/2016

Re: seven-up post# 1296

Friday, 12/29/2017 8:26:46 PM

Friday, December 29, 2017 8:26:46 PM

Post# of 2596
Which brings up another interesting point, VDC is in Liquidation which means the only official owners of VDC are common share holders.

There are no bonds, convertible bonds, CDs or any other ownership in equity assets in VDC other than common shares until liquidation is finished.

So, by proxy of VDC the common share holders value is in the remaining assets of VDC.

This is were it gets a little more tricky. In the current VDI SEC filing https://www.sec.gov/Archives/edgar/data/1380565/000119312517361026/d494794d424b3.htm ,

You will see two things the, $62.6 million in equity assets in VDI, and also stated in that filing:
"
The following table summarizes the balances payable to VDC included in the Company's Consolidated Balance Sheet as of the periods indicated:


June 30, 2017 December 31, 2016
(unaudited, in thousands)
Accounts payable to related parties, net $17,278 $17,278"

So, basically if it were not for SEC filings, there would be no proof that, I can honestly say the shares in VDC/VTGDF are legitimately worth around 5 cents a share and that is a modest assessment. But if they think they are going to get away without taking care of the common share holders, I for see problems for them, because as stated by the judge who granted a strike off to VTGDF/VDC, deduced the common shares value would be determined at the end of the liquidation.

Now the next thing you will probably say is what about the creditors. The restructuring agreement signed all equity assets and liabilities from the old parent company to the new parent company. There fore the only foreseeable creditors would be the common share holders. The entities that had convertible bonds in VDC now are in the trust, which were listed in the S-1 filing in the previous post.

This all started because OGIL, saw it fit to go through a restructuring BK and replace the VDC as the parent company! It will promote the longevity of the company but will also has started a lot of in fighting. Especially considering investors like Anchorage Capital received shares in VDC for their investments that they had in VDC, also Nobu Su's company is a part of that and one other.