VID truthI've been following this board for several months, mainly for entertainment value. Watching people pump this garbage, then realize they've been sccewed and give in to the fact they've lost all their money. Then there's still id iots like marvel, who I'm convinced at this point is GF, still desperately trying to convince people there's still hope.
Let me lay out the real deal for all those who have been screwed, including myself. I lost several thousand dollars on the stock, and I'm owed several thousand dollars as an ex employee. I don't know what the hold up is in confirming the company is bankrupt as they haven't been operational since the end of April. In fact, for the month of April they were operating with only 4-5 employees who were tricked into staying based on the promise of being paid at the end of the month which wasn't properly fulfilled.
GF is a complete scumbag who absolutely no one at the company respected. He didn't know jack sh*t about video proudction, only how to manipulate investors, piggybacking on the (true) story that video is becoming a bigger and bigger marketing tool - unfortunatey VID only pumped out garbage videos that no one really wanted. On the cheap, paying well below industry standard rates for production, resulting in inferior products that essentially make companies look bad. Videos! Yes! Sh*tty videos? Not good!
So after bragging about having raised 30+ million dollars for the company, and not being able to close the latest deal around Christmas because institutional investors caught on to the fact that GF was essentially pocketing most of their cash, paying himself nearly 300K a year (not to mention 500K Christmas bonus in 2014) for running the company into the ground, like a dog chasing cars trying to latch on to the next idea - things began to fall apart. Late and partial payments were made to staff beginning in January 2016. Why did I continue to work with partial payments? Because I was told that if I left, I would go "to the back of the line" in terms of payments. Staff that was still there would be first priority of being paid when investor financing did come in. Which makes sense from the company's perspective, but is still completely unfair.
So I actively looked for jobs in the beginning of 2016, but didn't come across anything I wanted to pursue. So I stuck it out, hoping financing would come through and get paid up (I had a running tally of money owed to me of between 4-8 weeks pay).
Steve came along and everything seemed to be moving in the correct direction, trying to clean up the massive mess that GF left. I was actually bewildered as to why Steve had motivation to try to clean up a company with such massive debts and poor reputation instead of just starting a new company. Then the tragic accident happened which was extremely sad to hear about - rest in peace Steve Hancock.
Now here we are, stock halted and I believe delisted from the TSX since you can't even search for it there anymore, and here it's only noted as SMDWF which is its symbol on a German exchange I believe (even more people tricked into throwing money at it).
Fact is GF is a complete scam artist, and I hopped on board for the ride, mistakenly thinking I would profit from it as well. This mess should follow him around for the rest of his life, and nobody should ever invest any money in his ventures as they are based solely on greed, not about building good sustainable businesses. SoMedia and VidWrx were built on lies, manipulation, and complete disregard for professionalism in video production. So kiss your investment goodbye, I believe there is nothing more to say on this board, although its been an amusing ride that I'll look back on down the road and have a funny story to laugh about.