Agora,
Your response doesn't clear any of my questions, comments or concerns.
1. You have agreed that there is no Prospectus describing Valu-Net's current business.
To me, that's a massive concern. ...and I believe it should be to anyone who is putting money into this "shell".
2. No financial statement for any of 1997, 1998 or 1999 is available on SEDAR. Most Exchanges would have suspended trading long ago. And while I don't know the ASE rules, I find it amazing that even the ASE would allow this to continue trading.
3. Audited statements.
First, I've never even heard of the auditor who filed the interim unaudited statement. ... And I've never seen such a blatant warning on the cover page as is on the SEDAR filing.
NOTICE TO READER
We have compiled the consolidated interim balance sheet of Valu-net
Corporation as at June 30, 1998 and the consolidated interim
statements of operations and deficit and changes in
financial position for the nine month period then ended from
information provided by management. We have not audited, reviewed
or otherwise attempted to verify the accuracy or completeness of such
information. Readers are cautioned that these statements may not be
appropriate for their purposes.
DAREN, MARTENFELD, CARR, TESTA AND COMPANY
August 12, 1998
Toronto, Canada
4. It is commendable for you to disclose that you are being compensated by VNE.
How are you being compensated? Stock? How many shares? and how many have been sold? Some other form of compensation.
5. The Globe and Mail, as is the case for any newspaper, will publish whatever they feel to be newsworthy including company Press Releases. What was Agora's role, if any, in getting the information in the story to the Globe and Mail?
I've seen the PUMP and DUMP game played numerous times. ...and there's always the promise of a big contract with a very well known company which somehow never materializes but keeps getting deferred to next month.
More from the "interim financial statement" in a subsequent post.
Ian.
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