>>Have you ever been pee'd off at the way your VSE investment has turned out? Do you wish that just once you could get back at the A holes that run Canadas most laughable stock exchange?
Well the folks that have invested in Secured Communications(V-SKB) are mad, and we're not gonna take it any more.
Adrian at Stockhouse has started our little campaign
stockhouse.com;
Luc:
I'm all in support for bringing public attention to a possible fraud situation and calling for a stock exchange to tighten further its vigilance over its members. However, in the case of SKB, it is hardly the fault of the VSE authorities. The stock was suspended in April when VSE suspected that something was afoul.
If there is any blame for investors of SKB losing money, it should be squarely on their own shoulders. Investing in a company with no sales or management track record is always a highly chancy situation. For every Ballard, there are hundreds that eventually disappear after the hype is over with. Many investors are easily sold on stories and dreams on "contracts" or news releases spun by micro companies (many of them trading on VSE) even when these companies have no real sales or past performance to go by. Just check out some of the SI threads on investors cheerleading on personal fantasies instead of real performance and you'll see what I mean.
For all participants on this thread, please read my past post on how to do due diligence before investing in any micro cap companies. In particular, avoid companies that:
(1) Does not have a history of sales (as evidenced by annual audited statements.
(2) Management has no track record, or a poor track record, that is, have showed very little progress in growing the company or making it profitable.
(3) Are grossly over-valued because of hype and promotions by individuals in Internet discussion groups.
In buying real estate, an investor should consider "location, location, location." In buying micro-cap companies, one should consider "managment, management, management". The only real way to tell whether management is solid or not is to look at real past track record of the company. Be prepared to lose money if you're sold into buying a stock solely because of promising news releases, spectacular web-sites, incessant thread cheering-leading, or personal fantasies. |
