Donald, your questions are all excellent ones, most all of which have been directed to "the company's one employee" by some people over here in the NY-NJ area. The answers from the CFO, I am told, are always reassuring. The problem is and continues to be BB who makes appearances on a radio talk show in the NY area called the "Ed Taxin" hour. BB makes or attempts to make explanations and excuses re: stock performance or lack thereof. Recently, he tried to blame the VTEH stock price on another radio show talk host in this area who apparently has been knocking VTEH. If you look back at messages in this thread, you will find a litany of promises and excuses he has made to stockholders re: all sorts of things, which are now too long to even list here. If you are serious about this company and still think there is something here to spend your time on, ask for a shareholder meeting. I will join with you. Good luck with that one. I have no expertise in analyzing their present financial situation,the "real reason" for the stock drop or "what ifs" looking forward but I can address your question re: the legality of internet gaming. As I understand it,
the legality of internet gaming is difficult to pin down. Some think that the present Federal law, the Interstate Wire Act, forbids telephone gambling across state lines, but the law does not EXPRESSLY apply to the internet. As such. Sen. Kye (Arizona) has introduced a bill to expressly forbid internet gaming. It is presently tabled in the Senate and there is no companion bill in the House that I am aware of. All this is on the Federal level.
In the NY Legislature there are discussions to allow off track betting over the internet in the NJ NY Conn area. Some think that the First Amendment is clear and I believe some Western states have introduced legislation to allow internet gaming based on that Amendment. One company, I believe it is IGC, actually sued the Attorney General of Missouri, when the Missouri AG sought a temporary and then a permanent injunction to forbid that company from offering internet gaming to Missouri residents. The company was shut down (for Missouri only ) when the local Judge issued a Permanent injunction. IGC has made a number of arguments for internet gaming including the First Amendment.This company has chosen to be the fighter-pathfinder in the arena, and we can only sit back and watch. It seems that it is best for everyone to have the business US regulated, taxed and monitored rather than licensed by some small Caribbean country. But, it is a political not practical question, and anything can happen.
I wish I had answers for you - but we are not to blame for VTEH's performance - I don't blame victims for fighting back, in fact they should be applauded for doing so.
I don't think that a BB thread would focus on VTEH but on BB himself. He promotoes himself as some kind of "guru" - well let's see. If it is true, what are you afraid of. If the company is what it claims to be and to be doing what it claims, what is there to worry about? I don't understand your concern - our money is lost - there is nothing more to lose (or very little)
Elliot |
