Financials in a nutshell Go to the asset section and subtract your current liabilities from your current assets and you will see that VRB is technically insolvent
-Go to your current liabilities and look as notes 9,10,12 and 20 you will see that the majority of current liabilities are owed to your management and BOD for doing nothing.
-Go to expenses on page 2 you will note your expenses from 2020-2021 jumped 80% while you were under Covid lockdown AND suspended by the BCSC for months on end. If you look at those expenses carefully you will see that just about the entire 2.285 million dollars was paid in one form or another to your management while no progress whatsoever was made.
-If you move on to page 3 you will note that your shares issued and outstanding have now leaped to 319 million- who is going to invest in a company with nothing going on and with that many shares out?
-Page 12 this is where the company’s future gets really murky - page 12 go to H, are your patents of any value? They were filed in 2016 - have they been amortized yet? No. Yet we know that the technology did not work in Europe
-Page 16 section 7 look at the Iron T under “exploration and evaluation assets” - you will see that the value of 1.9 million is just about the same at the top and bottom of those figures from 2019-2021 in fact if you go back to 2013’s financials forward every year you will see that number does not change hardly at all. This is really bad news. This property has laid dormant since I drilled the original holes on it in 2011- between 2013 and 2019 this property should have been impaired in its full amount down to $1.00 and THAT is the value that should be shown now under the Iron T assets
-for you shareholders that have not seen any press release on the iron t except the one in 2019 announcing a multi million dollar option agreement to an unnamed private company I’ve got bad news, if you go to page 17 and slide down the page to the last sentence under Iron T you will see that like most other things this option went “poof” after the first $25,000 payment was made to VRB. Vanadiumcorp did receive $25,000 upon signing that option, however the optionor defaulted on the $75000 cash payment on October 18,2019; the $100,000 cash payment on April18,2020, the $200,000 worth of shares due October 18,2020, the $200,000 in shares due October 18,2021 and obviously is not going to pay the $600,000 of other shares payable under the option. The private company did not spend even one dollar of the 5 million dollars of exploration agreed to. The option expired 2 years ago- did you know that?
-Further down in subsection 19 this is all about the much touted office in Germany from which you may think you’re in “the battery business” - in paragraph 3 you will see that this office space was terminated last year. You all remember the press release about that right? Do you actually think you’re in the battery business?
There’s much more in those financials but just digest this info for now.