Hi Steve, I agree + clarification
Today's write up in the Globe & Mail read well and it's great to see independent national coverage beginning in the financial press. More to come!
I look forward to AGORA's debrief of all the questions that we asked of David Lucatch. I put in about 15 from memory :)
We all have our own investment strategies and entry/exit points. For me the eMerge Alliance story is very compelling and has all the hallmarks of a big winner. I'm up over 600% in the last couple of weeks with another play (ALFN) – yes partial profit taken :) While I don't expect the same rapid rise for VNE – I'm confident the stock will trend upward over the months ahead and the components and potential are now in place.
Yes, the stock finished down again today, but just by $0.08 and right on $1.20 with Steve's exit number being $1.19! Still there Steve?
The two last trades for the day suggest a dump at market of 25,000 shares. The second last trade at 2:25:24 PM (MT) of 17,100 shares has the hallmarks of a partial fill (of the 25,000) at market as it was filled from $1.20-$1.28. Three minutes later the remaining 7,900 shares were traded @$1.20. Without the market trade at the end of the day VNE would have finished in the mid $1.20 range – so would have been almost unchanged for the day. Volume wise this was a slow day for the stock.
The end-of-day market depth and breadth is interesting. The bid is @ $1.20, yet there is no stock being offered for less than $1.30, and just 12,500 at less than $1.40, so very weak downward pressure. This gives a good indication that we may well finish higher tomorrow given the lack of selling interest at these levels.
To another matter :(
There has been a repeated allegation by a poster on this thread that VNE bounced a check and it's tied up with the Gretzky et al. + NHLPA suit against VNE. This poster asked on 17 February in Post #733:
"Today's post returns to the Gretsky / NHLPA lawsuit fiasco.
I had to wonder how DinO would know VNE's response to the lawsuit. There's been no public reaction; and certainly the information in DinO's post wasn't shared with the press. Hmmmm, might DavidinOntario really be David Lucatch?"
No I am not David Lucatch and I draw readers to the SEDAR filing of 10 February (below) where the company first publicly announced the suit and that they are counter suing. Given this posters allegation above that there has been no public response from the company, to that which is posted below, what does it say about the intent or motives of this poster?
I've done some DD on this matter. While there is a suit and counter suit the repeated charge by this poster of a bounced check is a complete fabrication and falsehood. I do not know how well versed this poster is with regard to legal matters, but the company in lieu of the pending case cannot publicly respond to this specific allegation. The suit brought forward is for payment for alleged services rendered with regard to a contractal agreement between the parties. However, Gretzky et al. + NHLPA didn't fullfil their terms of this agreement and want ‘something for nothing'. Sorry, but that just doesn't cut it.
Given that the allegation of a bounced check is a blatant fabrication and falsehood on the part of this poster – and that he has publicly mentioned the CEO by name and tied him to this falsehood more than once - why make it? Who knows what his motives are? I have no further regard, nor respect for this poster at all now.
Would it not be better to enter into an honest debate with others on this thread and discuss the merits – or otherwise – of this public company and its partners? Isn't that what we are here to do I say with my naïve hat on? I sincerely hope he realizes that he can be sued for libel in making such injurious flase statements on this public forum.
No-one is anonymous on these threads. Some posters are easier to trace than others. I found this poster in less than five minutes, using just four pieces of cross-referenced information and two reaserch tools. It's as simple as that! Why put yourself at risk of a legal claim for damages, given that the other party has such enormous resources and has been obviously wronged? I just don't understand. There's no way that I would risk putting my financial well-being in peril via such reckless actions. Can it happen – you bet it can – and it has for some unfortunate Internet posters who didn't give enough forethought to what they were doing.
He mentioned in his last post that he would now likely move on from this thread – I hope that he does. However, I felt obligated to set the record state, so this matter for me is now closed, and I hope that it is for him. I wish him well with his investments, but I advise him and others to be careful with what you write on these threads – you would be surprised who reads them!
David.
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(1) sedar.com
(2) Select :”View” (this public company's doucuments)
(3) Select February 10, 1999 Press Release - English
ASE Symbol - VNE CUSIP No. 919911 10 7
VALU-NET TO DEFEND LAWSUIT FROM NAGANO OLYMPIC PROJECT
Markham, Ontario, February 1, 1999. Legal counsel for Valu-net Corporation (the "Corporation") confirmed that the Corporation will vigorously defend and counterclaim the action brought by National Hockey League Players Association ("NHLPA") and Wayne Gretzky. The action against the Corporation and its subsidiary, Valu-net Telecommunications Inc. ("VTI") alleges that VTI and the Corporation failed to pay royalties and license fees for phone cards with the players' images on them. Valu-net contends that the players failed to perform terms set out within the contracts, including but not limited to, the failure of members of Canada's Olympic Men's Hockey Team to provide signatures for Team Canada Olympic Hockey Collector Phone Cards.
Valu-net Corporation, is a publicly traded corporation on the Alberta Stock Exchange, (symbol "VNE"). The Corporation's subsidiary, and primary operating company Valu-net International Ltd. is a leading marketing and technology company providing a complete range of services designed to meet the growing demand for Internet marketing and electronic commerce. Valu-net's Enhanced Service Program provides businesses with integrated Internet marketing programs, Electronic Commerce and transactions technologies in order to advance their business and marketing goals. At the same time, ESP's Web-This-Week - the largest gateway to the Internet in Canada - enables consumers to interact with such businesses.
The Alberta Stock Exchange has neither approved nor disapproved the information contained herein
For further information, contact: For Investor Relations information contact:
David Lucatch, President & CEO, Gary Perkins
Valu-net Corporation
Phone (905) 474 - 5100 Tel: (905) 889 - 1711
Toll Free 1-800-558-9069 Toll Free 1-800-225-2744
Fax: (905) 474 - 9843 Fax: (905) 889 - 2511
E-Mail - dlucatch@valuenetwork.com E-Mail - investrelations@vncorp.com
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