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They don't have any money, that is why they sold 10 million shares of stock in the last 12 months to bring the outstanding right up to the authorized. The only revenues were coming in from CRI and CRI is doing a 1 for 4 reverse, but the stock will never trade so they are taking it private. The VTPI shell is backing this unknown iVoice deal into it and bringing their management in. For all the new folks, be very careful. The Beagelmans, one of which went to prison for securities fraud, while he was President and Chairman of the board of VTPI, never sold anything except stock. And as I warned everyone in the spring of 97', this is exactly what happened. They ripped no telling how many people off, and will do it again, just with a new name. Before Visual Telephone International, before that it was Visual Telephone of New Jersey, and before that it was Bnet. All of their press releases were complete lies, and all of their tall tales of sales were complete lies. To top it all off, none of the money from the sale of stock was going anywhere except into their pockets. This is clearly stated on the Reg D filings made for the sale of the stock. I have copies of those filings if anyone wants to see them, and I have a complete list of the shareholders in 1997 if anyone would like to have that and call some of them. Believe me, you will get an earfull. Anyone that has a profit in this stock should do some DD so you don't end up with a nickle stock again. There was alot of stock sold in the last few days and who knows where it came from, but I suspect that it came from some deal that was cut increasing the authorized which was traded to iVoice, and they were selling big time. It looked to me like they came out of 10+ million shares, and that would have put probably 6 or 7 million dollars in their pockets. I'm sure Joel was in on it, along with Uncle Mac (the ex-con), and cousin Jerry, who also has a securities fraud record. And who knows who this new group is. I am just saying be careful. Their record is not good. |
