Post by
arzee on Dec 17, 2004 11:22pm
Any opinions on latest financials?
From the financials, "On February 16, 2004, the Company completed a further non-brokered private placement of 3,965,565 units priced at $0.50 per unit with each unit consisting of one (1) common share and a half warrant, with each full warrant entitling the holder to acquire a further common share at $0.75 until February 16, 2005. The
Company applied the residual approach and allocated the total proceeds of $900,000 to the common shares and $ nil to warrants."
There hasn't been any news coming out, but somebody put their money into the PP and will be expecting these shares, in the next 10 weeks, to go up by 5x or 6x to make the warrants worthwhile. Not likely in my opinion.
Comment by
Andy007 on Dec 22, 2004 7:16am
IMO the latest financials should have resulted in a higher share price.
The market value is only 1.7 mio can$ at the moment. But it's year end
and VSC is an ideal tax loss selling candidate.
When VSC continues its profitable paint and coating production in 2005
we should see a much higher share price. In my opinion VSC is undervalued.
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