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Billy Martin now owns more than 1/5 of the company

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Looks like Billy has been the primary buyer recently, with Raging Capital scooping up more shares. Now owns almost 22% of the entire company according to yesterday's SEC filing. Wow. Wonder what he sees on the horizon, i.e. buyout or significant shareprice appreciation. I'm OK with buyout as long as it is a public entity.

Posted by sharpinvestments - 10 years ago | Updated 10 years ago

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I don't think going private at this point would be a possibility with the company poised for appreciation in several growing markets. I heard CRG mention a $40M quarter of few calls back now (probably by 2016 - if current projections hold), and I can't help but think that this might be the inflection point where a decision is made to grow-it-alone, or to sell if the premium is right (he must have made this seemingly random comment for a reason). Companies usually go private when there is value to be unlocked, but what needs to be done would be unpopular with the market. I see vtss staying public for now. Mr. Martin seems very confident of his decision.

Posted by phobos - 10 years ago

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If we break down the most recent filing by Mr. Martins, Raging Capital:

with two days of buying,

1,293,000 shares were bought on 1/29/14 for $3.41 share

745,000 shares were bought on 1/31/14 for $3.50 share

2,038,000 shares added to his sharebase

Raging Capital now owns 12,429,127 shares, costing him approximately $29,421,114. this now makes him a 21.5% owner of Vitesse.

I am a bit suprised to see this purchase made before the earnings call. up until now we have always had a substantial pullback after every call. and we all know the reason why!
I wonder being an insider maybe Mr. Martin has a better read on the direction we will be headed after this call. suprisingly I also added shares on 1/27/14.


The Convertible A that Mr. Martin has a stake in, shows that out of a recently revised $32.8MM total of Covertible A. Martin owns a $8,639,676 chunk. since there is a 9.99% ownership limit to convert and the fact that his total sharebase has been growing, this puts him further away from being able to convert his stake to shares. at this point in time, along with the most recent debt re-structure, it looks like Vitesse will be paying off the entire Convertible A in cash, stopping any more added dilution.

I also feel that Vitesse will not be sold until the opportune time. that being after the Big investors, we little guys are all clinging to, have all made their stake of the claim. this, by running the shareprice up as much as feasibly possible in conjunction with the "max out" of increased revenue by Vitesse.

Posted by christ3opher - 10 years ago | Updated 10 years ago

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Chris,
Sounds like you're saying Mr Martin is looking out for self! lets hope his actions leads to a bone or two for us last in line-ers. Anyone remember MINDSPEED?? the bagholders got hosed if I recall.
I hope this outfit stays Solo for as long as possible, buy outs have seldom favored bagholders in my opinion.
Please correct my ignorance someone!!

But yes, we are finally seeing positive momentum before an earnings! it's said that insiders know best. The long awaited/promised delivery may have just arrived.

GL to us all

Peace

Posted by GARIF - 10 years ago

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let us at least see some REAL revenue growth. as far as I am concerned we are still on the bottom. but watch out. I believe that newsworthy news (revenue growth) will soon begin to flow ( Q3 )

Posted by christ3opher - 10 years ago

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my experience is no one buys 20% of a company without a plan. There are no 20% passive investors.

Posted by dlog - 10 years ago

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Mr. Martin already has eyes and ears on the board. Let's see what he has in mind. Could this be a really good earnings call? What if CRG understated what was brewing to make this an especially good call to catapult vtss into the $4.50 conversion range? This is quite the build-up for tomorrow's call.

Check out page 10: http://html5.pagesuite-professional.co.uk/default.aspx?pubname=Los%20Angeles%20Business%20Journal&edid=60855ad4-ad90-49ef-a915-b008c128bacc

Posted by phobos - 10 years ago | Updated 10 years ago

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Well the interest is certainly there, but they aren't getting my shares. 500k shares in the first 1.5 hours and all day today and tomorrow to go. Certainly feels like what we have been waiting for. What is the cutoff date this year for Selection/inclusion into the Russell 2000? Lots more interest to come..... Good luck to all of us.

Posted by Satbob - 10 years ago

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Phobos,
I posed that same question few weeks back! Could Crg have understated matters.
We are enjoying a rare moment with Vitesse, she is behaving like great companies do before earnings... lets hope this becomes a regular patter in future quarters and years.

better yet, no one puts that much money into a company without having had a serious behind the doors conversation with the company leaders. Looks like Crg did not loose his composure in the private moments with the big boys, as they are going crazy after company shares.

Like you Phobos, I expect some powerful news tomorrow! perhaps more in depth news about the traction of Intellisec.
In a previous presentation vitesse alluded to Salesforce, Google and Microsoft.
http://www.youtube.com/watch?v=0ZOR0dPfmCQ
In the January 15 Needham presentation on page seven I see where Oracle,Citrix, Ebay and SAP have been added to that list.
Could Vitesse be these life/fortune changing Gorillas?? Lets hope tomorrow some revelation comes about.

It's going to be very interesting...

Posted by GARIF - 10 years ago

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could she be INSIDE?? sorry

Posted by GARIF - 10 years ago

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Interest/speculation I'm sure is being spurred by Billy Martin's addt'l recent purchases and large position in VTSS.

Definitely risky to hold through earnings/call because our fearless leader is not the best in giving good forward guidance and the history of VTSS post-call tank.

I'm concerned also of us trying to ride the coat tails of the "big boys"- it doesn't usually workout well for us.

Previously posted my Tell labs (TLAB) experience where long term holders were screwed on a buyout (Under book) at $ 2.45 (with small premium), which locked us into a loss, after waiting forever for a buyout.

Posted by Techinvestor - 10 years ago

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Satbob,

the date that I found for inclusion to the Russell 2000 index is:

preliminary additions and deletions are June 14.

updates to the list of additions and deletions are June 21 and June 28.

A final membership post is made on July 1.

Posted by christ3opher - 10 years ago

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Guys, Guys, "Russell" sounds nice but lets let her remove the RUST, the toxic covering which has engulfed her for nearly a decade first. This baby is a toddler all over again taking steps to stand up and start walking.

One small step for men one giant leap for mankind sort of a thing... Indeed Vitesse has become a 'startup company', rare opportunity for the smallest of investors is unfolding here.

I hope Vitesse avails her self to the world as if for the first time, tomorrow evening.

Posted by GARIF - 10 years ago

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The sector/industry got hit hard yesterday but Vitesse stood tall!! never have/had I seen this phenomenon before. Truly amazing!!

Posted by GARIF - 10 years ago

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VTSS has repeatedly gone counter market/sector for years. It is in its own little world. My gut feeling is there won't be any new wonderful news tomorrow on conference call- just same low revs and platitudes about "gaining traction" and improvements in the future.

Posted by Techinvestor - 10 years ago

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Tech, I never bet against well informed deep pocket people. These people have had Vitesse reveal her heart to them and answer all their curiosities, my brother they are DEEPLY,DEEPLY impressed.
As bagholders our wish has come to life, Big action before an earnings report! lets enjoy it, I just wish I had some available funds..

More of the same from CRg tomorrow just does not match all this action. Something strong is coming out of crg on Tuesday
and I don't think it will be his breath!!!!

It's going to be more fun than the Superbowl to listen to, hell i got something at stake!!!! Be a Sea hawk tomorrow Crg.

peace

Posted by GARIF - 10 years ago

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I hope you are right GARIF. Let's hope CRG is a Seahawk and doesn't have the ball snapped over his head at the opening of the Conference call!

Posted by Techinvestor - 10 years ago

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Looks like nervous holders of VTSS aren't willing to hold through earnings- down $ .20. Who can blame them based on past history.

Posted by Techinvestor - 10 years ago

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...without the IP, that's a fairly ugly quarter.

Posted by phobos - 10 years ago

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Anyone seeing anything happening afterhours?

Satbob

Posted by Satbob - 10 years ago

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Hopefully Raging Billy buying was based more on what's going on now than what happened in the just announced last quarter. Saved by some I.P. revenue, more design wins yada yada. Now more options for all, board included for another less than outstanding quarter (though quite outstanding in their minds as usual....at least good enough to keep the party going). It just never ceases to amaze me. I've been around long enough to watch batch after batch of bag holders get sucked in by Gardner's b.s. Even got one now that refers to the company in the female gender. Please save us from further pain Mr. Martin. Find a buyer!! Fire somebody!!

Posted by sharpinvestments - 10 years ago | Updated 10 years ago

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Just as I thought- another blah quarter. Like I said Billy Martin's investment is the only thing putting a floor under the stock and gives hope to investors.

His next goal should be to remove CRG and try to get proactive managemnet with a sense of urgency. If not, CRG is content to milk the company for years to come, doing just enough to get by.

In after-hours not much activity (To be expected), stock down $ .02 at $ 3.58.

Posted by Techinvestor - 10 years ago

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Good evening VTSSers . . . it has been many moons since I last posted. I rarely check in these days, or even look at the price of the bird-cage liner stock certificates that I still hold of this 14 year nightmare. It seems like the meltdown was just the other day; just the other day being 2006. The crook CRG and the BOD continue to milk this puppy for every last dime, and will continue to do so, until all the money is gone. This is, and has been since LT's time, a zombie stock, and a company with chips in all the wrong places, as evidenced by the their sales numbers. Sorry to be so dark and all the best to u.

G

Posted by G - 10 years ago

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VTSS reminds me of a microcap stock (WAVX) in a promising sector (security) that has never made a profit in decades (At least VTSS has made a profit), has done the reverse splits, issues new stock, has a devout following (Wavoids) that thinks the next quarter is the one, had founders that milked the company for years, etc.

It's amazing how people lock onto some insignificant company and it becomes their religion- taking out second mortgages on their house.

Posted by Techinvestor - 10 years ago

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Mr. William Martin, of Raging Capital has issued another Filing 4, on Feb. 10, 2014.

purchasing two more rounds of shares,
combined total of 292,000 shares

2/6/2014: purchased 276,100 shares @ $3.35 share
giving him total of 12,705,227 shares.


2/7/2014: purchased 15,900 shares @ $3.35 share
giving him grand total of 12,721,127 shares.

Posted by christ3opher - 10 years ago | Updated 10 years ago

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lord Martin has the hots for vitesse! bless his heart. Oh!! it's going to be fun watching many other Martins attack this companies shares in the near future.

for sure the after hour activity tech mentioned was Lord Martin hoarding away.

Thanks Chris

Posted by GARIF - 10 years ago

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