March 11,2013 The three top managment individuals are set to begin to receive and ability to purchase stock.
The" 2013 Incentive Plan" was voted in favor for during the 2013 shareholders meeting. There are 9,459,848 shares available @ $2.10 share in this offering, $19,865,680.80 total.
****CEO Chris Gardner SEC filing form 4****
will receive 182,000 shares released in annual quarterly increments beginning March 7, 2013, ending in 2016.
45,500 shares acquired in 2013
also the option (right to buy) 68,000 shares in annual quarterly allotments, ending in 2016, for the price of 2.10
17,000 shares @2.10 available in 2013
****CFO Martin Mcdermut SEC Filing Form4****
will receive 82,500 shares released in annual quarterly increments beginning March 7, 2013, ending in 2016.
20,625 shares acquired in 2013
also option to buy 31,000 shares in annual quarterly allotments, ending in 2016, for the price of 2.10
7,750 shares @2.10 available in 2013
****CTOMartin Nuss SEC Filing Form 4****
will receive 48,000 shares released in annual quarterly increments beginning March 7,2013, ending in 2016.
12,000 shares acquired in 2013
also option to buy 18,000 shares in annual quarterly allotments, ending in 2016, for the price of 2.10
4,500 shares@2.10 available in 2013
Posted by christ3opher - 13 years ago | Updated 13 years ago
It makes you wish the stock never goes above $ 2.10 so these undeserving "managers" don't profit! The only road to profitability for the rest of us would be to short the stock.
Posted by Techinvestor - 13 years ago
Mar 15: $ 2 now- will it hold? The trading session isn't over.
Posted by Techinvestor - 13 years ago
Mar 15: Closed at $ 1.97 on almost 6 times avg. daily volume. New 52 week low < $ 1.75 next?
Maybe Chris can do another reverse split to get the stock price up- his design wins, cutting operating costs, and new product announcements certainly aren't helping.
Posted by Techinvestor - 13 years ago
The writing on the wall is that, given new revenue growth rates and the rate of old revenue decline, total revenues should reach a low point some time this quarter. VTSS' P/S ratio is currently around 0.64. That has been a result of the share price not adjusting itself fully to the decline in revenue. Recent history has placed P/S somewhere in the vicinity of 0.45 to 0.5. That translates to a comparable share price of around $1.50 (using $2.15 as a starting point) if P/S ratios decline to recent historical levels. A company with more credibility could probably hold onto a somewhat inflated valuation on the promise of a rebound, but VTSS has lost all credibility with the investment community a long time ago. This is why the pros generally buy on the news and sell on the rumor. Settling the bond re-fi now would be a disaster (probably an impossibility given the continuing revenue decline). I hope Mr. Martin is in this for the long haul. VTSS' continued existence may depend upon it.
Posted by phobos - 13 years ago
i will add to this topic that i think we will need to compensate Dr. Martin Nuss to keep him - -
you can have ur opinions of crg and marty mcfly - -
but the board is fine with them, the real owners signed up for a new contract - - and in time we might also agree that they need to be compensated with shares that are going up.
i see $46.5MM in convert A = 10MM shares all converting at $4.50
so i see 36MM float, plus 10MM in convert A, plus 1.9MM in Whitebox convert B, plus 9.4MM shares in employee compensation plan - -for total of a lil less than 60MM shares total. and that means vtss today is worth about $120MM or one times current low revenues. a buffet buy - -and proof of fat andy's inefficient market theory as taught to Yale students in a Youtube video.
yes i see a multi-bagger - -same as raging billy.
Posted by daWiley1 - 13 years ago
i posted to topic "VTSS is a Great Trading Stock" for the first time in 2 months- - you can find it in the HOT section of topics.
Posted by daWiley1 - 13 years ago
correct that share count down a bit - -
use 37MM as outstanding float, 10MM in convert A, 1.9MM in convert B and <6.7MM> in the employee plan approved at the latest shm
so i count about 55.6MM shares total.
that does the calc 56 X 2 = $112MM or less than annual revs.
_____________________________
inefficient markets, or just disrespected among its peers,
eventually the market becomes a weighing machine - -VTSS
wares will win the day. valuations won't stay this low for the next
internet upgrade cycle. as the value is put on the scale the same
as its peers - -
dW1
Posted by daWiley1 - 13 years ago
Mon. (4/8/13): OMG- 200 shares have traded of VTSS after 4 hrs. since market open.
That is beyond pathetic- No one cares!!
Posted by Techinvestor - 13 years ago
It's the calm before the buying storm... Once the importance of Vitesse technology hits the CLOUDS we will regret not buying all we could.
http://investor.vitesse.com/releasedetail.cfm?ReleaseID=754870
Posted by GARIF - 13 years ago
Techinvestor,
Yes, the volume on 4/8/13 was absolutely pathetic and unbearable to watch, expecially since I was trying to pick-up a few hundred more shares just below the ask price. No one seems to want to sell right now, not even for a penny below the "ask." Gonna try again today, although it doesn't look much better.
Posted by csparacino - 13 years ago
Low volume could indicate no one wants to buy, or that no one wants to sell. What does it mean? It's too early to tell.
Posted by phobos - 13 years ago
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