HOTSTOCKED.COM NEGATIVE trend of VDSC
Back on April 24 ALAS International Holdings, Inc. (OTCMKTS:VDSC, VDSC message board) announced the merger with a Greek cruise company and investors got into a frenzy. That day 100 million shares were traded, the stock surged by more than 200% but the momentum proved to be short lived. Just two weeks later enthusiasm subsided and by now the ticker has lost 69% of its value dropping from $0.016 to just $0.005.
On June 25 VDSC once again tried to recreate this remarkable session by informing the market that the merger was completed. This time around the fact that Hidraiki Naval Company were willing to pay $12.5 million for 25 million shares of VDSC, meaning that they valued the company's stock at $0.5, failed to reinvigorate the interest in them. Even the added bonus of the luxury cruise vessel M/V Porto beginning operations didn't help much to impress traders.
And seeing the fundamentals of the company it becomes obvious why the uptrend couldn't be supported. For the period ending March 31 they had:
Zero Cash
$926 thousand total current assets
$6 million total current liabilities
Zero revenues for the period
$592 thousand net loss
VDSC also have defaulted on a number of notes that are currently totaling over a million. The liberal use of common shares continues with another 55 million free trading shares were issued for services rendered.
The last news that came from the company in order to entice investors was regarding the spinoff of their subsidiary Red Tide Defense Group, Inc. Under the name IMAG Group, Inc. it will become an independent publicly traded company with its own ticker symbol with the IPO value set to $1 per share. In addition, VDSC are going to pay dividents of 1 IMAG share per 164 VDSC common shares. Currently some debates have ensued if this falls into the regular or special divident category.
