If you're gonna heap trash on my VNWC prospective investment on a guilt by association rap, then I guess I've got an open space here to defend it:
After noting the following two late August press releases, I bought VNWC, then a Nasdaq-listed stock trading under the symbol of VNCI:
prnewswire.com
prnewswire.com
Noting VNWC was headquartered at the Pease International Tradeport, formerly the Strategic Air Command Pease AFB, I knew the company had a credible address located at a Designated Trade Zone. I grew up nearby, knew Pease had recently been converted and there was a great deal of scrutiny as to who and what kinds of companies got located there. So I had some local familiarity before I decided to buy in.
I also was impressed with then recent Turner Broadcasting Studios Canadian Broadcasting Corporation contracts, also inked in August.
Regardless of what you think, I thought I had some pretty good reasons for buying, especially in a depressed tech market, the stock at its lows and, concurrently, I wasn't very happy with one of the stocks I was in at the time. I was looking to make a switch. I picked VNCI, having nothing to do with Rene Hammouth. I never heard about him until it was reported he was buying shares in the open market early 2002. Hey, I was already in. It's not my fault he decided to buy, is it?
Anyway, I hung in there while the company went through some tough times. What tech company wasn't having tought times. I saw VNWC as a matter of bad timing. They spent 60 million developing the product but by the time it was ready for market there were two problems: a) bad economy; and, b) the need to bring customers up-to-speed on the technology.
So, struggle, struggle, struggle--near the point of bankruptcy. But then a new deal got struck with BankOne/MoneyLine Teletrate only days ago took over 55 percent ownership of the company. VNWC also merged with B2B Video and the new, larger corporation now conctrates on two fronts: a) videoconferencing; and b) video security.
Moreover, they just inked a partnership deal with Lockheed-Martin which last Friday made an announcement it got a 350-490 million contract for civilian (airport) and military security. I'm surmising VNWC, under the auspices and financing of its new ownership is gonna get a piece of that Lockheed pie.
Also, they just inked a deal with Sloan-Kettering Cancer Clinic which follows deal with the Cleveland Clinic, Lahey Clinic, and Perdue Pharmaceuticals, all credible medical institutions. VNWC also does a lot of work in the government's education e-rate program.
Kerry, there's lots of reasons to like VNWC and they have absolutely nothing to do with Rene Hammouth.
I hope you feel better about me--I don't care what you think about him, I'm not takikng his bum trip and you should put it on me. Got it? I hope so! |
