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Technology Stocks : VRDM - Veridium Corporation
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To: whenitgoesup who wrote (11)10/26/2005 4:00:15 PM
From: rrufff  Read Replies (1) of 133
 
OT CMBV has got to be a scam. First it was a mining company, then a gambling company, how a bird flu company? Shows the power of promotion in this end of the market.

You must have missed my posts on VRDM. I tried picking up some shares at the bottom but was not quick enough. I'm going to see tomorrow how it looks. Relatively light volume, and a few panic sells.

They filed an 8-K today detailing the costs of shutting down the NJ facility.

This is not unexpected as it was announced in the shareholder letter issued over 2 weeks ago. The $3 million is a non-cash item. The only news in the 8-K is the estimated cash cost of $250,000, which seems like a reasonable figure.

So, I'm not abandoning ship but I clearly would not argue that it is good news. As I've posted before, it's a speculative venture. Bashers had urged the NJ facility to be shut down for years so, in a way, it's positive as it's cutting the losses.

The drop in stock price clearly shows that it is being perceived as negative news.

What's it worth? I figure fully diluted with everything out on the table, the share count will go to perhaps 150 million shares. At .02 the company has a market cap of only 3 million.

Reasonable gamble on the turn around, aquisitions and possible spin offs and this from the shareholder letter.

and it is generating revenues of about $14 million per year and about $1.5 million in EBITDA. Its management team is exceptional and the overall business contributes materially to our value. Its growth goals and needs just clearly in my view diverge from the requirements of the technology driven path that I strongly believe Veridium needs to be on.
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