RG:
I am NOT gloating. I stand to lose much more than you claim you are losing. This is a very sad time.
All we tried to do is discover what was really going on and warn others not to get into a trap. If you recall, our opinion was that:
1. New Visual Corporation is in a persistent state of dilution. As the holders of the floorless debentures convert, the dilution will be nearly endless and the stock price will approach $00.0001.
2. Embarq is etherware. No prototype, no FPGA, no chipset.
3. NVC has/had a GLIP. Certain shareholders were guaranteed their investment through price protection while the rest of us had our holdings diluted away.
There is nothing here to be proud about; it is a very sad situation. Da Boyz chose personal wealth enhancement and abandoned the shareholders by foresaking their fiduciary responsibilities, IMHO. When Congress passed the Sarbanes-Oxley law there was a need for oversight of American public corporations. Do you have any doubt about it now given the NVC experience? Da Boyz incurred $51millions in losses for the corporation while drawing big salaries, receiving perks, and taking bonuses. Something just does not sound right to me. As an astute investor, how do things look to you?
