I am starting to comprehend a bit more how much of a struggle it has been for PV to get this company rolling against some horrible odds dished out by a group of unscrupulous people. Thanks to My02cents and Motzu0 (by the way, I agree 100% with the comments posted on RB about them being the two bright lights shining in the dark). Thank you so much, My02 for continuing to leave me bread crumbs, when for some odd reason, other longs in this company cannot stand for you to help another unknowing investor who gets on the verge of feeling like they have been scammed, see the other side of the company and the hard, honest work that has gone into building a company of which I can be proud to have put my money into.
I am beginning to appreciate on a much deeper level what the extrememly hard work, apparent honesty, and deep-seated devotion of PV has contributed to building this company. Damn, it gets detailed, entwined and confusing!, but as I have spent hours reading through some of the filings and e-mails from PV, I am starting to get some idea of what he has done. It APPEARS that PV got duped in the initial deal when IPVC bought the VTI subsidiary, VergeTech, and scoundrel IPVC directors decided to renig on the deal to stay around to help the company get on sqare footing. Then PV had to do what he could to maintain control of the company while maintining value for potential shareholders. Through this arduous task, so far I have seen that PV has accepted some funding from the Augustine Fund, albeit, not a huge proportion, and has had to approach several avenues of obtaining funds to enable the company to grow in the way he plans. When some of these plans were thwarted, by another set of unscrubulous scoundrels, PV was creative enough to go get private funding and put the monies into a fund, SEPARATE FROM NMKT - so that these funds could not be ravaged by stealing equity value by shorting the stock. This INNOPRISE FUND is available to provide funding to NMKT, but the backers who were kind enough to provide such funding have assurances that they will get their investments back because the funding does not buy stock, but gets them convertible notes. If shorters try to take the stock price down, in addition to the unscrupulous debt holders being able to get more shares (thus, a higher level of control), the people who have provided funds through the Innoprise fund will also get more shares for their convertibles, so the power untimately remains in control of "friendly hands" - the people who will work hard to see this company succeed!!!
Ingenious!!!!
Now, I'm sure I am wrong about how some of how this works, but I am starting to get some sort of an image.
I'm also sure I will have MANY, MANY more questions about how all this pans out with this company, and I will certainly always question whether the moves are really beneficial to the shareholders (sorry blind cheerleading longs who hate questions), but at this point, I have had a major infusion of confidence in, and respect for PV.
Charleoi, I think this is why the Innoprise Fund is set up the way it is. Now, as far as the legality, I would have to spend money talking with an attorney to find out how legal it is to set up a private fund to support a public entity. This would merely increase the cost basis of my investment way higher than I would like. I think I will hold to the confidence I have in my investment and just keep searching WHEN I HAVE TIME (I do have another life, you know). On the surface, it DOES sound shady, but after I have investigated the reasons that it was established, as a shareholder, I think it is ingenious.
