GrahamB wrote: G1945V wrote: GrahamB wrote: WalkOverTheStrt wrote: Graham that is standard boiler plate verbiage most micro caps use in their filings....
We know sales are an issue but if you joined one of the investor calls Alvira has stated when they expect those POs/units to be accepted and the sales orders will ramp (Q4). I am not expecting anything of note until Q4. But if Q4 does not have a marketable (10-15+ sales) I will be concerned but again this was stated to occur two investor calls ago by Alvira. Do you join the investor calls?
I read the transcript.
the fact remains, sales are negligible and have been negligible for the history of the company.
this is a fact, verifiable.
The boiler plate, is a statement of going concern indicating that because there have been so little sold, and because sales are uncertain, the company very well could (and has ) become insolvent.
That is also a fact.Its also a legal requirement fo companies at risk of insolvency to protect investors, notwithstanding the reassurances of bagholders and those with a vested interest.
Now loooking forward, yes, sales MAY come, and the LONG sales cycle is well known.
Still, a cash raise and dilution is also likely, and I will believe that sales will happen when I see it.]So far its just doctors with free product, paid representatives, PR firms, and promoters talking about how great the product is.
Show me the money.
Graham, now you are stating that "the company very well could (and has) become insolvent". Where is this coming from?
Is this another one of your attempts to besmirch the company? G1945V
My post relates to my understanding of the financial history of this company and the companies current financials and posted “going concern”.
To be precise:
If we define Insolvency as:
“Insolvency is when an individual or company can no longer meet their financial obligations to lenders as debts become due. Before an insolvent company or person gets involved in insolvency proceedings, they will may be involved in informal arrangements with creditors, such as setting up alternative payment arrangements.”
https://www.investopedia.com/terms/i/insolvency.asp
Recall that in 2020 VPT ceased trading and indicated in a news release:
“The Company reported in its last financial statements for the period ended June 30, 2020, liabilities and accounts payables of approximately $1,699,181, of which approximately $1.1M was accounts payable and approximately .5M was accrued salaries. This was in addition to the approximately $1.1M of debt in the form of debentures. It is anticipated the remaining accounts payables will be settled over time and so the majority of the proceeds of the second tranche of the private placement will be used to advance the operations of the Company. It is also anticipated that current and former employees will wait until the Company has sufficient resources to be paid their accrued salaries (the majority is owed to the acting CEO and Executive-Chairman, Dr. Adams) or convert them into shares through settlement agreements which may be subject to approval of the Exchange and shareholders. A majority of the accounts payables date back several years and creditors, which have been patient throughout this period. There is no guarantee these creditors will remain patient. The ability to negotiate payout agreements with significant creditors may materially affect the Company going forward.”
Source:https://www.ventripoint.com/_files/ugd/8e5203_4c2902e59af5445ebe95a97e6f60499b.pdf
If you read the two highlighted sections and the full finacials at that period, MY impression is yes they were insolvent IMO
The current situation is well described in the financials, and I could do the math for you, but it’s pretty straightforward and if you read the companies statement, I agree with what they are saying. That’s all, I’m agreeing with the company.
G , I have taken the time to educate on this board, but , if I can be frank,I am finding your posts to be increasingly non collegial and accusatory.
I dont take the childish action of "blocking"people, as I am very good at filtering on my own. Pleased dont take any future non response as agreement with your posts or failure to have an answer.
it is just that with limited time, I choose to allocate my time where I feel it is best.
kind regards across the internet
G