Why would I not wish to discuss the goings on of VSPC with you my friend? I hope you didn't get that impression....
As for IPA adding value........I see no value......until I see a $20 million contract....then we might agree on value added....
The money owed to/from IPA....not sure what it is....it may be loans....I think that would have to be disclosed as such.....if it helped put the deal together....didn't see it that way....looks bad on the balance sheet though...and to date I see NO value added.....BUT that's how we have been able to keep going....through the IPA cash flow.....some direct offering would have been better....imho.....and with changes on going at Hobby Lobby....who knows?...from a June 2009 interview with the founder and CEO David Green....
While, by the end of 2009 we will have opened 25 new stores this year, we have the cash flow to open 35 or 45 - but this [real estate] is all we found that we thought was right for us.
One change we are making, however, is within the wall-decor and home-accents department.
Over the next 24 months you will see a tremendous amount of change and improvement in that department. Google Hobby Lobby Same Store Sales
will it effect IPA/VSPC?.....it could....from the 11/29 filing
We are heavily dependent on one major customer for our revenues
For the nine months ended September 30, 2009, sales to one customer, Hobby Lobby Stores, comprised 75% of our total revenues. We believe this concentration of sales to a small number of customers will continue in the near future. We do not have a long-term contract with Hobby Lobby Stores. A loss of Hobby Lobby Stores as a customer or even a dramatic reduction in sales to Hobby Lobby Stores could significantly reduce our future revenues.
Unless I see the $20 million deal....or I'll even say a $10 million deal....will I believe this has been good for VSPC....and the major reason that gives me concern about being a long term with VSPC is from the Memorandum and Articles of Association filed
11/25/09 section 70...#4
(4) No director shall be disqualified by his office from contracting with the Company either as a vendor, purchaser or otherwise, nor shall any such contract or arrangement entered into by or on behalf of the Company in which any director shall in any way interested be voided, nor shall any director so contracting or being so interested he liable to account to the Company for any profit realized by any such contract or arrangement, by reason of such director holding that office or of the fiduciary relationship thereby established.
This was an amendment....they went out of their way to write this....this is not good leadership....you want NO ONE to be able to say anything questionable about your day to day operations.....in fact it seems desparate....when was it amended?.....NOVEMBER.....WHY?....If a HUGE deal was in the pipeline.....why would they need to look at being a VENDOR or CONTRACTOR?....why wouldn't they be leading....getting more deals.....getting more land.....signing more deals.....I mean some posters are suggesting that's what IR told them.....DP wants to keep this under raps....hush hush....the demand is GROWING...
Now I still wish to discuss VSPC....but it seems a lot of interest is on GKG.....I think the other techs would make for some interesting posting....imho
Not sure what going to happen with VSPC/VGE....but IONFINITY could be an OBAMA play overnight....with the Victoria Secret bombers getting on airplanes.....you talk about a pps jump....I might even buy and hold for that reason.....when/if it hits .00's.......see ya tomorrow...got some DD to do...hope y'all get some news this week.....seriously
