Of considerable interest :)I was in e-mail correspondence with Samantha
Haynes, Vendtek Investor Relations to-day, Sunday,
and received her permission to post our communication,
as is, on the Stockhouse, Vendtek Bullboard - for the benefit
of Vendtek Investors.
There are other subsequent letters of interaction but
they are not of general interest.
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05 April 2009
Dear Ms. Haynes:
I am a Vendtek shareholder and, naturally, am
quite concerned about the protracted VSI cease
trading order and the, as yet, unresolved accounting/
inventory fiasco.
Could you please give me some idea as to
when one could reasonably expect this situation
to resolve and as to when one could reasonably
expect VSI shares to start trading again on the
venture exchange.
Thanking you in advance.
Sincerely,
XXXXXXXXX (Vendtek Shareholder)
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05 April 2009
Dear Mr.XXXXXXXXX,
I can appreciateyour worry. I can absolutely assure you that our business is ongoing as wediligently work towards resolving the inventory issue.
It was an internaldiscovery of the inventory issue. The AUDITED financial statements had theinventory error.
In 2007 the amountof inventory we had was $87 MM– we are looking at a maximum inventory issue of$2 MM. It is taking this long because we are looking through more than 20,000transactions PER DAY in Canada and each and every one from 2007 and 2008 has tobe looked at. As you can imagine, this is very timeconsuming.
We will send out anupdate soon. At this time I do not know when trading will resume. Tradingdepends on the financial statements being filed.
To reiterate, ourbusiness in ongoing as we work through this inventory issue.
I hope this providesyou with some answers.
Sincerely,
Samantha
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sincerely.....
mrkarpov