From the unaudited financials, take a look at what you're buying!!!
Assets
Current
Amounts receivable $ 1,244,999
Prepaid expenses and other assets 48,594
1,293,593
Capital assets 260,218
Goodwill 404,250
Deferred costs 36,768
Product development costs 125,083
$ 2,119,912
Receivables are unpaid bills; From whom?
Why are they unpaid? Why would they ever be paid?
Good Will of 400K??? Amazing.
Deferred Costs listed as an asset???? I wish I could do that, I've never pay another bill ever and become a multimillionaire in mere days.
Product development Costs as an asset? What product? Is it completed? Will it ever be? Does it have any value to any customer who might pay something for it?
There is absolutely no evidence that any of the assets has any tangible value.
Yet they list $2.1M of current liabilities.
In addition there's another $0.5M of convertible debt. This implies that if the share price rises, the insiders will convert, sell causing further dilution.
++++++++++++++
There's just no way to assess how much risk is being assumed when speculating in VNE.
Anybody who chooses to do so, good luck.
I've wasted enough time here.
Unless there are more posts directed to me, this is the last that you'll see of me on this thread.
Ian. |
