FYI VCTY Name change PR's from last year
November 15: Videolocity International, Inc. (VCTY) management announced that the company has ceased its application for a name change to Odessa Corporation, and will remain Videolocity International, Inc., with the symbol VCTY. In light of recent developments, namely, the merger with Ameta and the possibility of vending out subsidiaries Tactician University (TCU) and Avtar Singh Construction Co (ASCC), VCTY decided to rescind the name change.
November 10: Videolocity International, Inc. (VCTY; www.videointernationalcorp.com) management announced that the company has entered into merger discussions with Ameta International Co. Ltd. Ameta is a profitable technology sales company with 25 employees, national sales representation throughout Canada, and $3 million USD in annual revenue. The company is engaged in sales and distribution of security and closed circuit monitoring services.
VCTY is considering Tactician University (TCU) and may begin to entertain similar proposals for the Avtar Singh Construction Co (ASCC), subsidiary on an all-cash basis to reduce its current outstanding share structure. For TCU, the purchaser is in the process of completing its due diligence, currently for ASCC all options remain open. Should Ameta come to fruition, VCTY will also rescind the name change currently in process.
VCTY management is of the opinion that Ameta International Co., which does not offer revenues in the same ranges of the Asia businesses, may offer the market a more in-line business model and, being a North American company; a better connection with the VCTY shareholder base.
November 5: VCTY completed the first step towards officially changing its name to Odessa Corporation. The name change has been approved by Nevada's Secretary of State, and the amendment will soon be available on Pinks Sheets. Before the name change becomes official, VCTY must obtain a new CUSIP number and secure the approval of FINRA.
VCTY Q&A
Q: Why do financials go out as a filing and not a press release?
A: They do get sent as a PR sometimes. We use 2nd tier carriers as a cost-cutting measure and news companies delay delivery 2-3 days. (Remember, if this is what the issuer subscribed for, we only deliver what was paid for and subscribed). Don't shoot the messenger!
Q: Min Mar has stated in PRs that VCTY has "true growth potential." The stock has gone down nearly 100% since that release. What are you going to do to restore shareholder faith and bring the share value back up?
A: We don't comment on share values, nor do we own shares of the companies we represent. We are paid in cash for services we offer. We always maintained that the entire stock market is a net zero gain: Don't shoot the messenger, that's only our opinion!
MMG Commentary:
As previously announced, VCTY has commenced a name change. The Registered Agent unfortunately misspelled the new name, Odessa, and the correction is presently being made. In the meantime, another event has taken place: The Close Caption Video Company, with which VCTY has been in discussion for a long time, has finally come forward. In a merger business, this is how things sometimes work. The companies come and go and everybody jockeys for the best position. Close Caption is seriously looking at VCTY with the mindset that Tactician University will be sold in the near future (our bets are on COUV), thus creating an opening in VCTY for a good merger candidate, and hopefully something that will bring substantial value back to VCTY, as everybody would like to see this company retrace and get back to its proper share valuation.
VCTY Q&A
Q: Does the name change result in a CUSIP number change as well? And with these two changes will all of the short positions be covered?
A: In theory, it should. How long and what the outcome will be is anyone's guess. We can't comment on any possible stock outcome as that's a federal violation.
Q: When will ASCC's financials be released?
A: In Q4. However, interim, prorated and pro forma financials are being done and will be filed shortly.
Q: What is going on with the share structure? What is happening with the 1.5 billion shares that were supposed to be allocated to Hydro?
A: A large part of these shares were used up for the ASCC merger. See filings. ** False - only 8 million shares were disclosed as used for the purchase of 1/3rd of ASCC)**
Q: A recent PR stated that ASCC contracted to build 64 km (4 lanes) of the Golden Quadrilateral in Highway in India. They do not show up as a company on the website's contractor list, but a company named AFCON does, and it states that they are building 64 km (4 lanes) in the same area (NH 4) that ASCC is supposedly building. What is the real story?
A: ASCC was one of many subcontractors. ASCC never claimed it was an exclusive and sole contractor.
Q: Concerns about the share value.
A: Pink Sheets are highly speculative
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