I agree....we have trouble communicating....but I'm willing to forgive.....lol
As for the CT order justifying the pps of IPA.....NO....I would suggest it does the opposite.....we already know VSPC paid $12 mil more than it was worth....the S-1 says so...the following is copy/pasted from the 12/29/09 filing...pg 67
The value paid by VIASPACE and VGE for the acquisition of IPA BVI and IPA China was $15,832,000. The IPA BVI and IPA China net assets acquired totaled $3,003,000. The excess of value paid for the acquisition in excess of net assets acquired is recorded on the balance sheet of VIASPACE and was assigned to: grass license - $507,000 and goodwill - $12,322,000.
As I have said before....pgs 46-69 of the S-1 really make me question management.....if GKG is the BIG tech that is being touted.....feed and fuel....it's being brought to market....the wrong way....imho.... Chang owes $1 mil to IPA....IPA owes 2 employees....same filing...page 51
Provided that the Second Closing has occurred, if our common stock is not listed on a trading market within January 15, 2010 , then VIASPACE will issue to Chang the number of shares of its common stock equivalent to US$5,600,000. The stock price will be calculated as the average closing price of VIASPACE’s common stock during the 60 day period prior to and including the Second Closing Date. In exchange, Chang shall return all shares of our common stock he received pursuant to the Purchase Agreement to VIASPACE.
Included in the Company’s consolidated balance sheet at September 30, 2009 are Related Party Receivables. The Related Party Receivables represents amounts due to IPA BVI from Sung Hsien Chang, President of VGE and CEO of IPA China and IPA BVI, and from JJ International, a company owned by Sung Hsien Chang that operates separately. IPA China recorded revenues of $233,000 for the nine months ended September 30, 2009 from JJ. An employee of IPA China owes $204,000 to VGE at September 30, 2009.
The following table represents a summary of Related Party Receivables at September 30, 2009 (unaudited) and December 31, 2008:
2009 2008
Due from Sung Chang $ 1,009,000 $ 209,000
Due from JJ International 706,000 657,000
Due from employee of IPA China 204,000 ?
Total $ 1,919,000 $ 866,000
IPA China owes $19,000 to an employee of IPA China at September 30, 2009 which is shown as a Related Party Payable in the accompanying consolidated balance sheets. In addition, the Company owes $25,000 to its Parent Company at September 30, 2009 related to expenses paid by Parent Company on behalf of the Company.
Now if you are comfortable with VSPC good...I wish you all the best of luck.....but I came interested in VSPC...ask some questions ....called everything in the book...told to do my own DD....and did....the Chang deal ain't good for VSPC imho....does that mean the stock won't go up....NO....I may buy at some point.....DMFC and IONFINITY look promising.....will be checking in
If anyone wishes to discuss my brillant DD on this live trial "misleading" pr....and what the S-1 says......the cost will be $10......if Deuce brings that much....I should too.....
Go get some good news this week....
