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VTSS Investor Forum

Dear Board of Directors

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If you don't use this new offering (every penny) to pay down the debt that is coming due, you should all resign, including our CEO, whose only consistent habit over the last 7 years has been to over promise and under deliver. Yes, you'll have to give up all your perks (stock options, fancy dinners at the Camarillo Country Club, dollars for just sitting on phone calls and rubber stamping whatever at your useless meetings). Maybe at some point you will all finally realize that this is a public company. You are supposed to represent the shareholders. At some point, the company is supposed to make money and reward the shareholders. So far, it appears that everyone (bond holders, board, Needham etc) but the shareholders have been rewarded (and handsomely I might add). I agree that this is one of the worst run companies I have ever seen. Yet the debacle continues and continues...........

Posted by sharpinvestments - 10 years ago

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OR use the funds to robustly grow top line revenue and get this company gaining market share and new business, convert the design wins into REAL revenue and do it THIS year!

Posted by sstockss99 - 10 years ago

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Sharp, the board is enamored with CRG, they even reward him "at the going rate for CEO's in the industry"(direct quote from Rogas). So it matters not that the company has not turned a profit. Rogas did follow with, "he inherited a unique situation" which has a lot of truth.
So CRG has a lot of support at the top, we will ride this thing for better or worse with him at the helm. Personally I don't think he will have us join Dawson at the bottom of the Atlantic.

All will workout well friends, funds will be used judiciously. We have turned the corner, the worst is behind us, profits are coming, so are mutual funds thanks to our love affair with Russell which will soon be announced.

Peace and Love

Posted by GARIF - 10 years ago

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The sad fact of the matter is this is a $100 million company, ie very small. There are not many people who would even want to sit on the Board of a company like this and the ones that do have egos that far surpass their business acumen. The only real chance of meaningful success here is some positive fortuitous external event that basically falls in the lap of this company. Not probable but we can hope.

Posted by dlog - 10 years ago

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IoT, and Storage perhaps?

Posted by GARIF - 10 years ago

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the convert is a poker game - -with October 31, 2014 as the river card - - - -

but until then - - our board is going to keep all cards close to their vest - -

that means they will say very little about what they will do with the money -- -

let's just say that Carl the "I" tweets to his gang that he is going in strong on VTSS - -

if by some chance VTSS gets over $4.50 this summer --it is VTSS option to cash out the bondholders with shares or cash --

so we could have dilution of 7.4MM shares after all -if the bond gets converted to shares over $4.50.

or they just cut them a check - -or maybe even re-negotiate terms for an extension of the debt (not likely but possible).

the bondholders now know that this time around - VTSS already has the cash in the bank to settle the debt. and that is probably why fat andy cashed out for a 7% premium - -he loves to play Simon Legree - -and that was not gonna happen here again.

remember that LTE is Long Term Evolution - -and even in 2014 the likes of VZ, ATT and AAPL are way behind on technology upgrades to 4G-LTE/Advanced.

we don't move until the big boys are ready to install in the usa and china - -why the delays?? just ask Snowden.

just know that VTSS will be inside - ---- the future is so bright -- i gotta wear shades.

trade on!

dW1

Posted by daWiley1 - 10 years ago

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Well I guess we have seen the flop and maybe the turn- the river card should be very interesting. Do we go "All In" before the river or make the minimum bet?

I like the Carl the "I" reference, but he would never even mention VTSS- it is so small and insignificant. He could buy VTSS with his lunch money if he had any interest. I flash back to Cramer doing a positive segment on VTSS on "Mad Money" years ago- not Cramer's finest hour.

Well, let's hope CRG and the gang use their new found wealth wisely and don't blow it staying at the Ritz Carlton and eating at Ruth's Chris.

Posted by Techinvestor - 10 years ago

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i term it the Snowden effect - -it cost 2 yrs of this tech roll-out to determine how this LTE/A is on the inside - -meaning hooks to the core of the net for govts - -probably very close investigation of circuits and code that might be hidden inside - -a fear of all u.s. corps tech offerings --and same by our govt. - -long term delays - -

now to our mini Carl the "I" in Raging Billy Martin - -

billy was just re-loading his bond convert shares that he will lose for $4.5 --he had 1,919,928 shares inside the convert - -or $8,639,676 of the $32.8MM left on the bond - -so he bot $1.5MM of it for a discount at $3.35 and will cash out the $8.6MM if and when they buy back the bond --

or he gets to keep the 1.9MM shares if we go over $4.5 this summer - -easy trade - -one u would make in a heartbeat - if u had confidence in the long term results.

the offering hit $3.35 and $3.36 --so all retail had a chance to buy along with the large funds - - did you add like the fat cats ??

remember to tell folks in ten years that you bought a corp. named VTSS that did a 1 for 20 reverse split and then did 3 stock issuances - -and still went UP!!

trade ON!!

dW1

Posted by daWiley1 - 10 years ago

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CRG will be flush in cash soon- please spend wisely!
========================================
" Vitesse Semiconductor Corporation (NASDAQ: VTSS) today (6/17) announced the closing of an underwritten public offering for 8,582,076 shares of its common stock, which includes the exercise in full by the underwriters of their over-allotment option, at a per share price to the public of $3.35. The Company will receive net proceeds of approximately $26.7 million after deducting the underwriting discount and estimated offering expenses."

Posted by Techinvestor - 10 years ago

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Regarding the "Snowden effect":

http://www.wired.co.uk/news/archive/2014-06/20/nsa-backdoors-closed

The parasitic class may well be reigning in their electronic voyeurist toadies at the NSA.

VTSS will have no more excuses...

Posted by phobos - 9 years ago

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