Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: David in Ontario who wrote (559)	2/2/1999 6:09:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 974

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.

To: David in Ontario who wrote (559)	2/2/1999 6:13:00 PM
From: nicholasparis	Respond to of 974

It's pretty doubtful that VNE is a bankrupt company given that the company has price protection at $o.90 and the stock has traded about 3 million shares at way above that price. Also the company completed an additional $1.5 million dollar financing recently (see the press releases). Ian's comments about VNE having no customers makes no sense -again review the press releases. The reality is practically every junior public company around has one foot in the grave, especially those trading on the VSE and the ASE -that's just part of the game. It's just my opinion but the price action on the stock doesn't really look like a pump and dump -the chat groups, including this one are practically inactive, and there's no obvious b.s. trading. Are there shorts? I sure hope so, but I thing anyone shorting this kind of trading action would have to be insane. I think Ian is right in identifying certain elements of hype, but I'm not sure it really means too much. My observation of this stock over the last six months tells me that the rumours usually come true, and these guys are obviously working pretty hard to build a legitimate business. Tommorrow will tell. I'm staying long.