Michael Self, of Lake Union Capital management.
As of September 29, 2011
The filing states that they no longer own any shares.
Lake Union WAS a 7.9% holder with 1,905,500 shares previously held.
Posted by christ3opher - 16 years ago | Updated 16 years ago
Are they all saying VTSS management has fed us a bunch of BS? Do they see that other products are superior?
What is the story with these major sales???
Posted by Mark - 16 years ago
Mark,
"What is the story with these major sales???"
I would say it is too early to tell that the earlier 500,000 share sell was not Lake Unions. We will need to see another SC 13G/A to let us know that.
Where we are now I would say that, this is the only fund that has sold out their position, There could be a number of reasons why.
Posted by christ3opher - 16 years ago
thanks for posting this Chirst3opher. Excellent information.
Unfortunately i think we are going to see more of this. Institutions don't hang around long when they see "the story" has some significant soft spots.
Posted by dlog - 16 years ago | Updated 16 years ago
Thanks Christopher,
From Sharp's post on the Vitesse website for share ownership, it shows Lake Union's last reporting date was 12/31/10, where other firms were showing 6/30/11.....so Lake may or may not have been selling shares over the last 8 months.
Sold my MSPD at $5.38 today, about a 6% gain from Monday. TQNT has been hammered recently, now appears to going for below book value, even though though after announcing a big sales drop for this Q, they still expect to make money.
Posted by altrfan - 16 years ago
Hi altrfan, great to have you back.
The last SC 13G/A for Lake Union was on February 1, 2011, with them picking up 5,500 shares. Giving them a total of 1,905,500 shares. 7.9%
*** If you look at the topic***
"SEC 13G owner/proxy/nasdaq update" which was written by altrfan, 10 months ago. 3rd from the last post down that is written by me
is where I have this SC 13G/A originally posted.
I will assume that their selling has spanned the last 8 months, beginning after February 1, 2011.
With close to 2 million shares to sell and with the very low trading volume that we have seen. Maybe Lake union has been the sole dispenser for the majority of shares sold over the last 8 months? time will tell. keep eyes open for new SC13G/A's to appear
Posted by christ3opher - 16 years ago | Updated 16 years ago
thanks for the info christ3opher.
will add it to my vtss notebook.
i will add that some time back i think i looked up holdings for Columbia Pacific and Lake Union. the baty boyz and mikey self sure had a load of crap worse than vtss!!!
i'll jus take it that mikey got tired of playin a loser's game.
maybe he is afraid of solar flares next june.
went to all cash to wait out the mayan's.
or just got afraid of the economy and sold all a the top because his technical indicators predicted a turn in the market.
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i'll take it on good advice that there are now about 8% or 2 MM shares out there on the market. might have been all on the 4.7 MM day that goes unexplained.
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do any of you find a bit of irony that we own shares of a company that is trying to get information moved across the internet at multi gigahertz speed - - -yet we have to wait up to 6 months to find out who bought or sold what as a 5% holder?????
and the info on the major fund holders that appears on the corporate website is most probably wrong????
aren't we being treated poorly by the market rules and couldn't we hope to persuade the management of our gigahertz products to be a shining light and provide some of the info in record speed for a public company???
i know that sounds like too much to ask.
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try to sell 1.9MM shares of vtss!!!!!!
only the 4.7 MM day suffices - - otherwise it is 1k, 2k and lots of 100,200,400 share trades for days on end.
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looking forward to a filing next february as to whether we have a new partner in the wheelhouse.
ta ta mikey - - -hope ya don't lose it all somewhere else.
as i take another bong hit . . . . . .
vtss will go up more than any holding on the naz or russ 2k in the coming 12 months.
now pass that hookah clockwise around the forum.
Posted by daWiley1 - 16 years ago
Hey Christopher,
You are correct on 13G filing date. I was using the info from the Vitesse website, but was not clear on it.....either way, Lake Union is kaput.....
".....find a bit of irony...." yeah, never looked at it that way Wiley, but it sure is.....just another example on how BHT expands them there horizons.....usually I am going WTF, and I don't mean Win The Future or Wisconsin Tourism Federation......
Gambling fool that I am, in TQNT this morning at $5.12....
cheers to all and a have a good weekend.
Posted by altrfan - 16 years ago
Hi Alt,
Like Chris says, great to have you back with your caustic tongue as I have pretty much gone MIA . . . but one has to wonder WTF; have you lost your mind? Are you like a reformed Vegas craps player that just can't stay away from the tables? Owning VTSS - not sure that you have actually purchased more; or are you just thinking about - is like having some sort of STD; it's the gift that keeps on giving!
Posted by G - 16 years ago
Hi G,
Obviously an extremely stupid decision on my part to buy back this POS....even though $3.03 looked like a good price. I mean, how could it go much lower given that CRG, always right on top of the business, stated that Vitesse was going to grow revenue in Q4.....
Oh wait, Vitesse isn't going to grow revenue??? CRG was just joshing and in reality revenue is going to tank???
Should have paid a little closer attention to that 500k after hours sale....maybe someone knew something, but neglected to let anyone know. 'Have I got a deal for you!'.....
Looking at the numbers given this morning, this company may not even be viable much longer if revenues don't start growing quickly. Have a stop loss right now (well above the current $2.60) if there isn't a little sucker buying I will dump at market tomorrow.....as it now looks like the 'Power 30' has the same sales momentum as VScope and Eco Ethernet...
Posted by altrfan - 16 years ago | Updated 16 years ago
Alt,
You really are out of your fucking mind after all you have been through with VTSS to step back in and buy more . . . and no sooner than you did, the con-artist CRG sends another shot across the bow with an earnings pre-A and down she goes. I would NEVER buy another share of this thing under current management. And just watch, CRG (and the BOD) will vote him another pay increase soon. CRG has clearly been blowing smoke up Christopher''s ass just like he has continued to do so to all of us for 5 years!
Posted by G - 16 years ago
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