Validian Corp (fka VLDI)

[Surwin]

LOL, VLDI annual operating budget for 2019 is estimated at $1.5M and last year they had the same operating budget of about $1.5M yet they had an operating loss of only $513,000 and negative cashflow of $173,000, the difference was financed with stock, convertible preferred, and convertible promissory notes. As of Q3 they stopped issuing stock, convertible preferred, and convertible promissory notes. All present and future financing appear to be 12% cash promissory notes without any convertibility into stock. They have not been paying the interest on these notes since they do not have the cash to pay the interest, so the interest in just accruing. They can only do that so long.

Yes, it is amazing they raised about $315K by March 19, 2019, but that is hardly a drop in the bucket, especially if you account for Q1 expenses which will be known when Q1 financials come out, plus $900K for R&D and $300K for sales and marketing they are budgeting but highly unlike they will incur those expenses just like they did not last year. It simply looks like the are borrowing from Peter to pay Paul.

In summary, provided we are able to obtain adequate funding, we expect to spend a total of $1,472,000 for all expenses during the year ending December 31, 2019, subject to our ability to generate revenues from the licensing of our products and our ability to raise additional capital.

If they just manage like they did last year, they still need to raise at least another $200K. Hardly the signs of a company that will make in through 2019 on an operating basis, unless they can continue cutting costs, but at this point there is very little left to cut.

VLDI was a rinse and repeat from 1989 when it was CCC funding, I believe they were originally a mining company:

We were incorporated in Nevada on April 12, 1989 as CCC Funding Corp. to seek out one or more potential business ventures. On January 28, 2003, we changed our name from Sochrys.com Inc. to Validian Corporation

Your Qoute:

I have not heard nor read any such information that would indicate his endorsement is anything less than full-throated

And you have not heard anything to the contrary as well and that is why it is fading fast.

The only one that got rich off VLDI is Bruce and his inner circle that milked this company for over $35M in sales and marketing expense when they never had a finished product to market.