The 1.9 m in bad debts are probably related to the NHL Players Association lawsuit/counter suit; i.e. the NHL Players don't want to pay their bills., rather than some sort of weird artificial revenue generation scheme, as you seem to be alluding. An unlikely theory, by the way, for a lot a reasons not least of which is the full disclosure of the audited financial statements and the massive liability the company and directors would face if they were that barefaced.
I would agree with you that the financial picture looks pretty nasty, however, as I've said before most development stage juniors have one foot in the grave. I guess you're doing neophtyes a service by making that point awfully clear in your postings, but, my friend, there are a lot of stocks out there much more deserving of your venom than VNE. I'm not going to repost all the reasons why VNE doesn't fit the "pump and dump" model, you can review my posts for that.
Having said that, I'm a little pissed off at some pretty nasty market action that didn't really have to happen. If I get too ornery, I will post the name and web-address of the New York investment house that I believe initiated the action in the market. If the financing closes in some form other than what has been has announced, I will post the info.
Again, for the record, I think the deal VNE has done with Citibank Canada et. al. is phenomenal and that there is a lot more news to come for VNE.
Cheers. |
