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VTSS Investor Forum

Louie T and Gene settle and are done with the SEC.

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http://www.bloomberg.com/news/2013-09-27/ex-vitesse-executives-settle-with-sec-claims-over-revenue.html?cmpid=yhoo

Louie T pays $100,000 and Genie pays $50,000. I am trying to remember what the market cap of VTSS was in Feb of 2006. I think I remember shares outstanding were about 230 million. Stock price was $6-$7 per share. If that is the case market capitalization of VTSS was $1.2 billion or so. Today it sits at $170 million. The stockholders of 2006 have an investment worth about 20% of that ($35 million).

$1 billion dollars gone. And Louie gets fined $100,000. This is quite a system we have.

Posted by dlog - 11 years ago | Updated 11 years ago

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Didn't Bernie-M say something about our system being a "Ponzi-scheme"? bless our hearts!
On a sweeter note, Vitesse has surpassed one of its main competitors in share price! one small step for man- one giant step for Vitesse kind-sort of a thing.
Perhaps a prelude to future events.

Posted by GARIF - 11 years ago

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