There are a couple of ways I could respond to your post to me... but first a little background:
FBN stands for "Fly-by-Night" and is a fictitious company that some of us SI Y2K investors started in order to "joke" about the wild/dubious claims of certain Y2K vendors. The web site was made from a collection of past parodies we had done along with "traditional" new material for stuff you would expect to find on a legitimate Y2K web site. In what has become an SI tradition, we had a bit of fun on April Fool's Day in taking FBN public.
As for VXTK, the company used to be an oil mining stock (red flag #1) which promoted a bogus piece of land, but then later sued its partner saying they were duped. They eventually won the lawsuit and $5M with which they decided to get into the lucrative Y2K stock fest. For a better account, see: 207.183.153.206
As programmers, the FBN "staff" thinks VXTK's claims are, to be polite, bizarre. I suppose they may be based in truth, but the way they are presented clearly favors hype over substance (red flag #2).
The CEO posts on SI, but either knows little about the technology or refuses to answer direct questions about it (red flag #3)
The "reviews/articles" section of the VXTK web site is merely a collection of material from admittedly paid sources (red flag #4). Read the disclaimers.
The only (publicized) revenue-generating license agreement VXTK has is with VentureTech 2000. An LA Times investigation finds a link between VentureTech and Global Mining Consultants, a company recently shut down for fraud by the FTC (red flag #5).
VXTK, either as a mining company or a Y2K company, from what I can find, has never had any revenues of note (red flag #6). They also have no announced Y2K contracts one may call for reference (red flag #7).
These, to the best of my ability, are facts. Whether these facts make you want to buy or sell is your own business. If CEO David Hite wants to dispute these facts or clarify them, I would welcome that.
As for me, I am neither long nor short VXTK, nor have I ever held a position in it, nor do I post under any name or via anybody else about VXTK on Yahoo. When I called VentureTech 2000 I used my real name. If CEO David Hite wants to talk to me personally, all the necessary information to find me in minutes is in my SI profile.
Hope this clear things up. (gg)
- Jeff |
