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VTSS Investor Forum

GLOBAL CHIP ROSE 1.8% IN AUGUST

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Global chips sales rose 1.8% in august from July, according to the semiconductor industry association; Sales were driven by PCs and Wireless products, and the EXPANSION OF INFRASTRUCTURE in CHINA and INDIA.

I smell a very good quarter more and more for Vtss. Whitebox is going to really work with Vtss on this 25 mil thing.

Posted by GARIF - 13 years ago

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I love your optimism GARIF. I believe that this quarter will exceed the extremely low expectations as well.

Posted by matt38 - 13 years ago

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I really hope that this management team will have enough funds to pay off the Whitebox debt of 25 million in full by next years due date. This would go a long way in bringing back some much lost respect to the management team and potentially adding NEW investors.

The last thing that this management team needs to be dealing with is the refinancing of debt! Actually it's the shareholders who took the beating with the last debt restructure. And what a F***ING beating we took!

Posted by christ3opher - 13 years ago | Updated 13 years ago

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I second Matt's comment on Garif's good natured optimism, which is presented without the clueless pumper mentality that is usually observed on the Yazoooo thread. We all want for Vitesse to be successful and the share price to go up.

One good quarter from this company, a positive outlook, CRG getting replaced, Yonker sent packing, adult management and an adult BOD in place, relisted on Nasdaq, basic accounting procedures followed.....is that too much too ask???

Yeah, it is. I will settle for one good quarter and Nasdaq relisting......

Posted by altrfan - 13 years ago

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I don't like being the cynic here, but the way VTSS will pay off its loan will be to issue new stock and sell it, diluting current shares and dropping the price further. The fact that they had to go hire a new Sales/Marketing VP speaks volume as to the condition of the company. And they keep adding R&D people instead of living within their means. They just don't get it and never will.

Posted by Grandpubha - 13 years ago

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At one point in time Whitebox was a shareholder AND held the $25 million note. I have not seen any filings from whitebox indicating they are over 5% in stock ownership. I have no idea if they hold any VTSS common stock at this point. I hope so. Of one thing I am certain. Whitebox has never been reasonable in its negotiations with any company of which I am aware. I am hoping they still own a bunch of common stock because it may temper their negotiations on the debt. The best thing VTSS could do is get rid of Whitebox and find another financing source. If they end up refinancing with whitebox in my opinion it will essentially tell us VTSS couldn't find another source which would be yet another commentary not only on management but on the percieved weak position of the company. (However, I must admit I don't think the economy is benign for small company financings.)

Posted by dlog - 13 years ago

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My good friends, I see a wounded dog whose wounds are healing.
I see Perna as a serious answer to the ills of this company. Pernas presence will ease the pain with Whitebox. I see opportunity swirling, but this is just my uneducated opinion, Very "Dumb" as my sons would say; The next few months will speak plenty about all off our "opinions" time always does. Oh, the sons? they're societal misfits!!

Posted by GARIF - 13 years ago

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Dlog,

I think Whitebox is fairly straight forward with their strategy in that they deal with distressed companies that are poorly run. WB is a member in good standing with the BBB (fwiw) and their goal is to make money for their investors. It isn't WB's fault the Rogas/CRG regime is an abysmal failure in providing shareholder value, and as you so aptly put it in a recent post have failed to meet every single financial goal over the last 4 years.

My opinion is that a management and BOD that had personal integrity and professional pride wouldn't have been in the situation, nor have any desire to get financing from WB in the first place. They would have followed Bob Chapman's advice and sold the company rather than take out 10% loans when the going interest rate was half that. They also wouldn't have spent tens of millions of $$$$ on wild goose chases that provided no benefit at all when they had debt coming due.

I can see no reason for WB to play nice with Vitesse. I can see every reason for them to put the screws to Vitesse though. I would do the same if I were in WB's position.

Posted by altrfan - 13 years ago | Updated 13 years ago

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With regard to WB, I don't know why there is so much skepticism regarding the repayment ....errr...Other than the fact that we have been screwed over by our fearless leaders time and again.

Logically, VTSS should have over $40 million in cash by 9/11. This will allow them to pay the debt in full, maintain sufficient (but low) operating capital and increase profitiability from saving the exorbitant interest expense. I know we have been outraged before, but if they issue stock or get into a less than favorable refinancing arrangment, I will drive to Camarillo and place my foot firmly in the ass of CG!

Posted by matt38 - 13 years ago

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Hi Matt,
At this point in time the Vitesse management team has left us no other choice in being skeptical regarding ANYTHING that needs to be accomplished.

I will repeat: This Vitesse management team MUST pay back the Whitebox loan ON TIME to gain a speck of respect back from the investment community that has been abused multiple times over by the continuous diminishment in share price.

This will be a good question to ask on the next cc. For far too long now the questions that have been asked have eluded many of the important issues that should be discussed. The last conference call was open only to a few of the institutional holders. I hope in the future that the "blue collar" investor will again be included.

Posted by christ3opher - 13 years ago | Updated 13 years ago

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Altrfan, These products are Vitesses insurance, bargaining chips, Vitesses future!! They bet the farm, now have products that address needs in growing markets. Whitebox has made a living seeing the possibilities of things; They will bend nicely, besides i think Perna is their man.
Sell, sell, sell products and the "investment community" will fall head over heal to buy VTSS

Posted by GARIF - 13 years ago

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