Amen. This is a great move had they gone to the loan sharks again they would have required preferred shares convertible to $1 a share with a 10% interest and the stock would have dropped to one dollar until the deal closed and at that time there would be a permanent ceiling on the stock price at 1 because the loan sharks would be shorting for anything over one and at the same time collect their 10% interest.
My concerns lie with the further dilution of shares causing additional erosion to all current shareholders. VTSS failed to specify in the preliminary prospectus how many shares would be offered and failed further to provide even a range for the offering.
I am very disappointed to see this course of action.
I will however be buying on the drop that is sure to come from the announcement to help average down to something hopefully attainable in the next year so I can get this albatross off my portfolio.
I wish us all the best of luck; we are going to need it!
You're drinking the kool-aid...
Tell me how this thing has had any GROWTH over the last 5 years?
Have you heard execs talking about GROWTH in their calls?
WHERE IS IT?
THIS POS is a dime (10 pennies) pre-split.
Every 20 cent we drop from here is another penny.
And what about investors that bought at 3 to 4 dollars pre-split?
The stock would have to hit $60.00 just to break even...
Has it been going in that direction since the split or since all these DESIGN WINS have happened? EVEN A LITTLE????
If I had to guess, this company is scrambling to survive right now.