<<Its our company you are maligning, and our management you are calling liars, without ever talking to them! You make all sorts of unsubstantiated charges and wild claims with no real basis supporting them. In fact, you seem to have done everything in your power to try and destroy this company, especially if you are the same person who posted as 'nowaynohow' on Yahoo. In fact, that person has accused me of being a paid tout for the stock, which I vehemently deny!>>
Excuse me Paul, but what a bunch of crap.
First of all, Paul, I have never called management liars. It is my opinion that management has been less than completely forthright with its shareholders. In 1997, this thread reported that VLNC's PR firm was still indicating production for early 1998 was "on track", while the stock price was tanking from $10 to $5. At some point in 1998, VLNC must have begun its "major redesign" of Line 1, but left its shareholders with the impression that production was imminent. In August 1998, Lev got around to telling us they were completing the "major redesign." Around September or October of 1998, VLNC issued the "on the cusp of commercial production" PR. They did not say that "on the cusp" meant at least a year away. In November, Lev refused to acknowledge whether they were sending out production samples, and acted ignorant of the terms of the variable rate financing. In February VLNC showed a video of working production lines at their annual meeting, leaving attendees with the impression that contracts were imminent. In August, Lev avoided Harold Hartzfeld's question about how much production capacity they have now.
Here's a list of my unsubstantiated charges and wild claims, Paul.
Last November, I sold the position I had held last summer because Lev refused to acknowledge they were sending out production samples, and refused to acknowledge the variable rate financing terms. At the time, I said these raised red flags for me. It turned out that last November VLNC was nowhere near commercial production, although I was castigated on this thread for suggesting this possibility.
Last December, when this thread claimed production was imminent, I pointed out the SEC filings still said they had not sent out any production samples. I was accused of being a paid short and told that the filings referred to the 3rd and 4th production lines.
Last February, I questioned FMK's claim that 6 production lines had the capacity to produce $3.5 billion of annual revenue. It turns out, VLNC "expects" to get to a $76 million run rate within 12 months.
Last February, when VLNC showed a video of working production lines to attendees at the annual meeting, which led these attendees to predict that contracts were imminent, I pointed out that VLNC's filings continued to indicate that they had no products for sale.
Last March, I questioned your assertion that Castle Creek was not shorting the stock because they had not filed with the SEC, and questioned your assertion that "after months of due dilligence," Castle Creek was "bullish on VLNC." Now according to you, Castle Creek is the primary seller of the stock.
Last June, I was the first to point out that VLNC was going to be added to the Russell 2000. Yet I also corrected Fred who claimed massive buying would occur after the buying in fact, took place. In fact, the massive buying Fred predicted never materialized.
Last July, when this thread claimed the death spiral scenario to be a "hoax" when the price did not immediately drop below $6 on July 29, I pointed out other floorless financings Castle Creek had done in which the floorless provisions did not immediately take effect. Within days, the price began its slide below $6.
More recently, I pointed out that the price of the stock drops substantially before each purchase by Daddy Warbucks, suggesting that Warbucks is selling his shares before he buys them. Now even you acknowledge that Warbucks has sold shares "from time to time."
So, Paul, where is your support for your assertion of "unsubstantiated charges and wild claims?" Show me just one unsubstantiated charge or wild claim I have made that has proven to be incorrect. |
