Form D: Round 2 of 5. Just as a headsup, this is only round 2 of the VIPR dilution. As soon as this one is done, look for 3 more rounds to come per their PR dated Sept 8, 2009.
[NOTE: This is a repost of post 25929 which was deleted due to me accidentally including the wrong pr. I was asked to correct the pr reference and repost. I have no further comment.]
IMO, Jason's plan has been from the beginning to dilute VIPR shareholders for all they were worth and then hit them with an RS when the OS became to obscene. In my earlier correspondence, I would ask about the possibility of an RS and he always responded that he had no plans "at this time." I just didn't like his wording for obvious reasons.
Anyway, good luck to you but it's hard having faith in a mining CEO whose only real professional background revolves around acting pursuits. http://www.jasonbarbeck.com
VIPR Industries Announces Additional Financing Commitments, and Other Events
LAS VEGAS, NEVADA -- (MARKET WIRE) -- 09/08/09 -- VIPR Industries Inc. (PINK SHEETS: VIPR) ("VIPR") is pleased to announce it has received additional financing commitments for up to $1 Million, to be followed by an anticipated non binding commitment for an additional $5 Million.
VIPR (the "Company") has to date received approximately $500,000 in financing during the previous quarter. The funding has been collected in stages from accredited investors who have provided the Company with a commitment for an additional $500,000 in funding. Once the $1 Million goal has been attained which the Company expects to be completed within the next quarter, an additional $5 Million commitment is likely to be exercised with the same accredited investors. Although the financing commitments are on a best efforts basis with no assurances that the total amount can or will be collected, the Company is optimistic which is as a result of its recent success in raising funding during what is thought to be by many in the industry as a difficult period for junior exploration and mining companies.
VIPR has been accumulating its cash reserves in expectation of utilizing these reserves jointly for further exploration on existing properties as well as additional key targeted acquisitions and/or joint ventures. The joint opportunities were not available prior to the previous quarter due to financial constraints. The more funding the company can secure, the healthier its options on various fronts. In other developments, VIPR has identified and isolated what it believes to be key target zones to be used towards any further exploration on its Singida-Londoni property in Tanzania. Additionally the Company has recently been using the services of key, well established professionals in the industry who are facilitating some key introductions on potential sought after acquisitions and/or joint venture opportunities. Further news and updates to be released as they become available.
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