New Visual is extremely (6 years) late in developing it's technology. To date they squandered 57 million $$$$ attempting to develope a technology that allows data to be transmitted at greater speed and across extended distances over existing copper wire for more than 6 years with absolutely no positive results whatsoever. With this strategy, No one but company officers, insiders and friends have become exremely wealthy off the shareholders backs..
In the years since they started, various companies have met, surpased, and marketed products that virtually eliminate any need for NVEI to continue it's nonsense.
New Visual has been claiming it will market its undeveloped product (code-named Embarq) to leading global telecom equipment makers and service providers for over 4 years, helping them fill the gap between T1 and fiber for both business and consumer users. New Visual is a public company traded on the Over-the-Counter Bulletin Board under the symbol NVEI and has constantly lost value for it's average shareholders. To date the company has lost 99.96% of it's value from their all time high.
They have received various financing packages, including their latest of 3.5 million known to the industry as death spiral financing. In all cases where financing was obtained, virtually none of the monies (per SeC fillings) have been spent on developing this untested, uproven technology called Embarq. Instead the officers have awarded themselves millions in bonuses over the years when the company can't even pay their bills.
NVEI just hit yet another 52 week low of 3.4 cents, they have achieved new lows each and every year 4 years running. The death spiral financing package will cause tens of millions of shares to hit the market in the very very near future.
A reverse split a few years ago, death spiral financing today. IF!! they manage to keep the doors open after tens of millions of shares hit the market from the death spiral financing package, they will undoubtedly attempt a second reverse split.
No company has ever recovered from such desperate measures.
For the 3rd time the company will change its name in an attempt to distance itself from their unethical operational pracices.
For the 12th time they have set a completion date of a beta product. Who's design was suposedly frozen and ready years ago.
Managment has been saying it will market it's suite of products (of which NONE EXIST)for 2 years to telcos.
Recent NEWS: the company just completed a milestone (phaseI)
They are now moving onto phase II and III. They are also contemplating an advertisement in 2005.
NEWS: Ledbed has been solicited to pump this stock up while the death spiral financing unwinds.
Don't ask what milestone was completed because no one knows. Don't ask about phase II and III becasue no one knows. The only thing we know for sure is that someone will CONTEMPLATE drawing an advertisement on construction paper by the end of 05.
It is more than obvious that the their only concern is how long can they keep the scam operational.
Look out below...
this post is filled with with nothing but verifiable facts from the company itself.
it is a forgone comclusion, based on these facts, that the company started out as, and continues to be a bonified scam
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