He must have been reading my posts..lol.
It's nice to be validated about my conclusions that most of VV's PR's were just words that contained no real substance. To think that many members of this board were so SURE that there was meat behind Vince's PR's and that they did proper due diligence on Vince.
It brings into question if anything that Vince PR'd was true. Especially those PR's with specific dollar amounts mentioned (FilmOn and these recent six figure deals he claimed coming out of the Miami conference).
Pacal...I'm sure you are a nice guy. But Vince looked your right in the eye and lied to you. Just as Smite claimed he would.
The good news is that the shareholders have a back up BOD in place and ready to try and right the wrongs of Vince and the Rathods. Probably easier said than done since I figure the current financials situation at Valcom is probably far worse than anyone imagines. The 10-K is probably going to wake up a lot of people on this board. Most companies that pull this kind of crap usually die a bad death. Valcom has another chance. Hopefully VV will be a footnote on this board in a few months. I guess that Ingrid is on the way out as well (by association).
<Mr. Willemsen, Chairman of ValCom, stated “Far too many empty promises and deals have been announced in the past, but never brought to fruition. We intend to dispense with this hyperbole and focus on our existing platform to turn this company into a profitable business using the assets at hand.”
Mr. Willemsen continued, "One of our priorities as we begin to undertake the rebuilding of ValCom will be to annul the purported loan transaction with Solomed, a toxic transaction that was never authorized by ValCom’s board, and which immensely diluted ValCom’s shareholders.” Mr. Willemsen continued, "A recent letter from Mr. Vellardita was sent to certain shareholders. This letter was riddled with false accusations and misstatements, and included a proposed amendment to increase ValCom’s authorized common stock by tens of millions of shares, thus potentially diluting all shareholders substantially. However, our new management does not plan on such a recapitalization, rather, our aim is continue developing value, and in fact, to seek and nullify any shares issued unlawfully or in bad faith without the board’s knowledge or consent. The current Board members have a significant investment in ValCom and will work diligently to create value for all bona fide shareholders.">
