Post by
bandit69 on Dec 28, 2020 1:54pm
All Over the Map
These guys are all over the map. All they talk about is the cash they have and this is great to maintain their salaries at the expense of shareholders.
You can't decipher their business model. Are they promoting cash? Turkey? a deep well program? or "m&a" to be able to tell a fresh new story for a few years (maybe) while collecting nice salaries? they promoted production is the savior because it provides cashflow....negative cash flow mind you...they used to say the reserves were worth a lot more than they sold it for too.
1%insider ownership? hahahah...what a joke. And he gives the excuse of "but that's because we have been changing the insiders and managment the last few years"...really?? When I buy an equity it takes me less than 5 minutes to click a mouse, put in an order, and I am an owner. What is the hold up? and then he says insiders are buying now....but it is chicken feed. Show people they are "buying on the open market" but when your salary is over 1MM per year, thanks to shareholders, a few thousand dollars on some shares to "show" insider buying is chicken feed and a nice show.
.....the shares were at .25 not long ago why did they write options... for themselves... instead of buying massive volumes on the open market if the story is so compelling? then they wouldn't be restricted by divesting schedules. They could sell anytime. The answer to this is obvious, because they do not have confidence in their story. No conviction. No skin in the game.
So, cash, and maybe a fresh story to tell and obvious associated upcoming dilution as he said in the interview....how do you buy a business worth over 100MM with only 40MM in this cash they keep promoting? dilution. Shareholders should not only be excited by the cheap options management/insiders wrote....for themselves.....exorbinant salaries, but now dilution to their holdings. What a great story...for insiders.
I am so sick of these "businesses" that produce cash for themselves while blowing smoke to shareholders. However, shareholders are to blame not management. Shareholders have the power to make or break a company...especially one with a yuuuugge insider ownership of 1%. HAHAHA....so you are to blame. shareholders keep taking it up the bum while these salary suckers ride the wave as long as possible then ride off in to the sunset. I have seen it too many times to count over a few decades now but this format has been more prevalent in the last 10 years.
It's never about creating value for shareholders anymore. Most have discovered that storytelling and collecting egregious salaries are the business model they develop. It works. Obviously.
What an exciting story. You guys will all be rich sticking with this one. No doubt about it. ;)
Comment by
Debentures on Dec 28, 2020 9:31pm
Yikes what a salty former shareholder. This is what you do in your spare time post on VLE despite not holding! Nice.
Comment by
Debentures on Dec 28, 2020 9:35pm
All we can do is stay tuned into Q1-Q2 low risk of holding given cash in the short term. Good luck and here's hoping for a lot of positive energy in your life going into 2021 :-) have a great new year
Comment by
waitingstill on Dec 28, 2020 10:40pm
Yes next two quarters will tell the tale for this company. Let's see what they can do.
Comment by
RockLobster1 on Dec 29, 2020 3:41pm
If you are still long and this negative then you'd be called stupid. If you are not long but have that much time to drone on and on with nothing to say then your life must really suck. Take your pick.
Comment by
RockLobster1 on Dec 29, 2020 3:49pm
my apologies in advance for being so harsh (rather than just humorous) in this time of peace and goodwill... all the best to you for 2021..!
Comment by
bandit69 on Dec 30, 2020 12:32pm
I'd respond to the dreamers here but I am still laughing that VLE even mentioned a dividend at this stage. Carrot + stick = a board full of suckers. lol
Comment by
Debentures on Dec 30, 2020 12:37pm
Wishing you and your family a happy new year. I hope it's filled with unforeseen riches. VLE still isn't a div play despite your tactics. Enjoy the rest of the week :)
Comment by
bandit69 on Dec 30, 2020 3:08pm
there's no tactics. Just observations and experience. That was my point, they are not a divi story...at all..... and that's why I was laughing. It shouldn't have even been mentioned. I do wish you luck and you might do well on this one but the odds are highly against it, that's all.
Comment by
firstworld on Dec 30, 2020 10:40pm
Anyone who thinks $250K a year is a nice salary clearly does not have the means or the skills to speculate on a play like this. SG can barely afford to support a family after govt takes all their direct and indirect taxes.