Internet Explorer 6 is currently not supported. Please consider upgrading your browser to Internet Explorer 7. It's free.
Internet Explorer 7 Download

VTSS Investor Forum

This has to be intentional.....or not??

+1
0 Votes
-1
Vote history graph

Announce a 1/20 reverse split, followed a few weeks later by a terrible quarter with still talk of remediating material weaknesses in their accounting department and no hard date to get relisted by (well at least they've learned not to put a deadline out there, just so they could miss it for the 10th time :). I don't think they could screw up that bad even if they tried....mabe it is part of the hedge fund games that we're now up to our neck in. Drive it way down to accumulate prior to relisting?? If that is not what it is, then our fearless leader, his sidekick and board go from just plain stupid and incompetent to downright retarded. No management team and board could possibly be that bad......or could they ?? (sick feeling in the pit of my stomach starting again).

Ever notice how Gardner starts every sentence with "Yeah" or " So". It just adds to his smugness in answering questions without taking any personal responsibility. Ever since the news of his live-in sweetie being on the payroll was exposed, they have not taken any calls from private investors on the two subsequent conference calls. I guess we'll never know the correlation between that news being released and the General Counsel being unceremoniously dumped within days. Could he have gotten dumped for releasing it, or did he put it out there in the filing because he was being dumped? Or is it all just a coincidence? (doubt it). Remember when Colin and company visited Gardner and he commented on how hard he and Yonker were working, getting in at the break of dawn etc. etc. If they were really working that hard and this is where we're at, then I rest my case as to their ability to run a company.

I'll say this about Willow Shire when she was around. When you reached out to her, at least she got back to you. None of these current head-in-the-sand guys will even give you the courtesey of a "I feel you pain" response.

Posted by sharpinvestments - 15 years ago

Replies
7

+1
0 Votes
-1

To be perfectly honest Sharp, I wish Ms. Shire would have acted like the other BOD members and ignored shareholders. Like you I had a number of converstions with her and bought into her insistence that Vitesse truly wanted to 'make it right' and become a normal company once again instead of the disaster Gardner and Yonker have delivered.

I would have only been out of my original $70k instead of being completely screwed. Not too smart on my part....that is for sure.

Posted by altrfan - 15 years ago | Updated 15 years ago

+1
0 Votes
-1

Sharp,

This is yet another ploy by our charlatan ceo to avoid NASDAQ scrutiny, which is far more regulated than pink sheet.

We can put a stop to this by gathering petition against BOD for abdicating their fiduciary responsibilities. This company has been involved in many questionable practices by any measure and BODs have let it (i.e. ceo) go with impunity. We may have a much better relief by tuning our appeal to Business Fraud investigation unit of attorney general's office both in Los Angeles and Delaware county.

I personally have not seen any "under-the-roof" employee reference in any (i.e.High-tech industry) security filing except Vitesse.

I will do the leg work if there are few willing to sign the petition, we got to start somewhere, it has been long enough.

Personally, I was hoping a BOD reply to your email which addressed most of my concern.

Posted by scam_artist_ceo - 15 years ago

+1
0 Votes
-1

I think most, if not all members of this forum who are shareholders are in agreement that it is definitely past time for a new management team to take control of the situation that this company is now in. The big question is: do we have any rights? what are they? what can we do to oust current management?
if successful, who will the replacements be?

The current management team seems to have cut ALL ties with shareholders for the second time. The first being the "options backdating" scam. E-mails are not answered, telephone calls are not returned, conference call participants are "blocked' from asking questions. The shareholders have dealt with this incompetent group of imbeciles for far too long and have waited for far too long to have some value brought to our shares. Many of us purchased these shares during a time when this company was obscenely fraudulent in the way they stated their earnings.

What have the shareholders done for this management team to treat us like dirt ?
This management team needs to be schooled on what a legitimate, publicly held company is all about and not one that is about ONE guy with his hand picked accomplices spending limitless amounts of money on R&D, with no time constraints on accomplishing ANYTHING , no thoughts whatsoever regarding shareholders, no desire in bringing value to shares.

The shareholders funded the latest restructuring of debt through massive dilution. Management screwed up big by not making any money during the most important quarter. Now, our value has dropped considerably while this group figures out their next step of immaturity.

There is something very much wrong with this picture!
There needs to be change to make it right!
sign me up!

Posted by christ3opher - 15 years ago | Updated 15 years ago

+1
0 Votes
-1

I spent two years wearing that tin foil hat of mine, and the temptation to dig it out and put it back on is strong. Instead, I think I'll stick with this maxim for now: "Incompetence, when consistently applied, becomes indistinguishable from conspiracy."

Posted by LMS - 15 years ago

+1
0 Votes
-1

Hey LMS,

I don't know if that maxim is a 'golden oldie' or a classic you just made up but it got a chuckle out of me.

Christopher,

Perhaps a new tact to attempt in getting a management or IR response would be to pretend we are new prospective shareholders who are excited about the prospects for Vitesse. Maybe then there could be a response.

Posted by altrfan - 15 years ago | Updated 15 years ago

+1
0 Votes
-1

altrfan- It is good to see that you were able to get your original name back!

as far as getting a response from Vitesse using a different identity. This has not been successful either.

I will be soon attempting a different strategy

Posted by christ3opher - 15 years ago | Updated 15 years ago

Leave your Reply

Login or Create an Account to post reply.