Chairman Mao, VELT needs something else. And what does anyone here know? They haven't even released numbers for the last quarter - who knows what they still sell? You haven't said anything - just "China, China, China..." What ARE THEY SELLING? Ads? What?
IMO - I think mobile is a dead sector as a stand alone market. You need to have a core site (FB, Twit, Goog, AAPL, etc.) to leverage the space. MM might make it and perhaps clean up Hipp and some others along the way, but being a small fish in a large pond filled with sharks is not a viable business model. I could be wrong, it just my opinion, but it seems the proof is already in the PPS.
Ed - it's none of my business, but shouldn't you buy once it gets OVER a certain amount - say, .10 cents or something? Make VELT prove that it can rebound and sustain momentum? I mean, you'd still be averaging down, but you wouldn't be risking anymore money on the downward swing.
I was wrong last week as I thought we might see some shares trade at .029, but does anyone think it will happen this week? It should be a real fight to break down into the .02s.
Don't know anything about that Chairman Mao - but thanks for educating us, well not really, ewww.
This would be easier if we just listed what we DON'T know:
What business components are still operational?
What client base remains?
What A/R is collectible?
What revenue can we expect?
What is the number of employees remaining?
What are the company's financial obligations (A/P)?
Will there be another SPO or RS?
Velt PLC was gutted by GSO of most revenue producing products.
Shareholder lawsuits still in place against Velt PLC
PPS has declined from $20 to $0.03 in two years
If that's what you want you won't be able to post anything!!!!
Please give us a few of your "facts".
Ed - GSO didn't take the "troubled parts" - they only took the good stuff. IMO (to me only) it looks like GSO conspired to get what they wanted, only collateralized those things that made money, and then when it was obvious Velt wasn't going to repay, forced them into BK to get the revenue producing assets out from under the shareholders - i.e. you, me and everyone else.
So the multi-million dollar question is: What's left at Velt PLC that generates revenue? How many clients? What kind of cash flow? What, if any, relationship is left with GSO? These are the questions we've been asking and no one has answers - that's the problem.
Ed - most of the time (almost always) - the original owner of the IP gets an "in perpetuity" license to use it. No fees, nothing. I'm sure that was part of the deal, but it's my opinion.
What's a little more troubling is that GSO is close to breakeven on Velt's IP already - why is it that Velt was never close to breakeven? Bad management or the rest of what Velt owns (the leftovers) is so poor (and cash flow negative) that GSO didn't want it? I don't disagree with Blu, but GSO could've already purchased/encumbered what was left of Velt and been done with it. That hasn't happened so I wonder what's left that has any value to anyone?