EASY TO SAY SQUID Why would they want to close up shop after 10 years of R&D?
YES YOUR RIGHT EASY FOR MARTIN TO CLOSE SHOP... Why did he not?
THAT IS THE QUESTION YOU SHOULD SEEK...
WHY WOULD HE NOT CLOSED SHOP AND TRY TO REORGANIZE THROUGH CHAPTER 11?
WHY DID THE SWISS NOT FOLD?
WHY DO THEY OWN MORE THEN 50%?
WHY DID THEY NOT VOTE MOST IMPORTANTLY?
BECUASE MARTIN HAS TOO MANY INVESTORS WHO WANT IN...
THAT IS WHY HE HAS TO INCREASE A/S to 10 Billion Share
THAT IS AUTHORIZED SHARE.. NOT OUTSTANDING.... AUTHORIZED SHARES... SWISS DOES NOT WANT TO GIVE UP THEIR MAJORITY AND ALSO WANT MORE.....
VIICQ has voluntarily filed for Chapter 11 bankruptcy protection. This event was primarily the result of its inability to obtain quorum at its August 22, 2014, Shareholder Meeting, at which the Company sought permission to increase its authorized share count from 500 million to 10 billion common shares. The increase in authorized shares was requested by management to enable the Company to seek further funding to continue operations.
“We are disappointed by the lack of participation by our shareholders, especially by our main shareholder.(The SWISS) This more than limited our options to raise capital; it effectively made it impossible,” says Vision’s CEO Martin Schuermann.
During the reorganization process, Vision will continue to operate and work on ongoing government supported programs and R&D projects. It is the Company’s intention to reemerge from the Chapter 11 protection with a healthier balance sheet and thus be able to raise capital to execute its business plan.
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