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Gold/Mining/Energy : Valu-Net Corp (VNE on ASE - was Faymar) -- Ignore unavailable to you. Want to Upgrade?

To: AGORA who wrote (545)	2/2/1999 2:44:00 PM
From: Ian@SI	Read Replies (3) \| Respond to of 974

Agora, You said, "We prefer to study fundamentals and make sure they are still intact. Where are you getting those fundamentals? At sedar.com and entering valu-net one sees that Valu-Net has never filed a prospectus, has never filed an audited financial statement, and, in the unaudited interim statement that is there, they list debts under their current assets, they show that they owe money and have no means of paying their debts. Yet even for this statement, the issuer indicates that no attempt was made to audit it, it was just published as received from management, and may not be suitable for the reader's purpose!!!! It left me with the impression that the company is bankrupt. The Sunday Vancouver Province published a story that Wayne Gretsky and the NHLPA are suing Valu-Net Corporation over unpaid bills in both Ontario and Alberta. Appears that a $60K cheque issued by the company bounced. Is this what you meant when you said, "As far as we are concerned, VNE fundamentals are not only intact, they are progressing forward. Just what fundamentals are intact? And precisely what do you mean by progressing forward? According to their press release, UNNAMED New York connections are leading the issue. ... and doing so at the MAXIMUM DISCOUNT allowable by the Alberta Stock Exchange. Sounds like a scheme to avoid any investor protection whatsoever by Canadian regulators; and that the company will get next to no proceeds whatsoever from the issue. And just what do you mean by: "This may not be a prediction regarding end of the day closing price but we do feel confident in the end of the week/month/year price of VNE. Are you confident that it will trade under $1 by end of month? under $0.25 by end of year? I mean, let's get serious. This is a company without any tangible assets; that hasn't filed any required financial information; that doesn't have a prayer of ever being listed on any of the "reputable" exchanges; that has never demonstrated any products or services (but only described some abstract concepts in a press release); with no evidence of revenue producing customers or even non revenue producing customers. I ask again, what fundamentals?