Allen-Vanguard's next move ?
As their deal may not close as quickly as they had expected - due to pissing off shareholders, I wouldn't be surprised to see Allen-Vanguard revise the deal to see that shareholders get offered 'something'.
Maybe they will "find" a few million to offer shareholders (i.e .05/share...providing shareholders sign a quit-claim). It depends how fast Versa want to close this deal, as to how high they will go.
Versa wants VRS because they see opportunity to make money Why can't they come up with a few more million ?
Personally, I want .40 per share before I sign off. If Luxton and Versa can't find the money, then they can hand the keys over to a receiver, and let the assets draw new bidders. I would not be surprised if shares prove to have a net worth minimum of .50/share in a free and open bidding environment.
Shareholders, the law is on our side, don't let Versa's offer scare you into doing nothing - your shares are valuable, despite what the recent PR implies. Maybe our CFO's "magic pencil" will prove wrongdoing, I see trouble ahead. The court will NOT allow this deal to close without have a very close look at the financials. Our little group has found lots of questions already about the accounting methods - just wait until the pros have a look at what has been done.
While ied jammers sales have declined, EVERYTHING ELSE is increasing, look at the last financials [url]http://media.integratir.com/T.VRS/financials/AVC%20Q3%202009%20FINANCIALS%20-%20V3b-bop-FINAL.pdf[/url]. HMS, and Med-Eng bomb suits are world leaders in their divisions, and have excellent growth. The developing SAIC relationship with CBRNE has many hundreds of million dollar contracts potential.
Our order book is not reported in the last financials, however for the past several quarters it has maintained an average value in excess of $100 Million dollars - there is no reason to believe it should be different now... maybe the CEO/CFO just "forgot" to put it in the financials this time? |
