I was asked by Ga Bard on another thread about VTCO. Told him I would answer here.
VTCO - biz.yahoo.com. Looks like they are trying to do what VUSA and many others do already, only VTCO only booked a few million in sales last year. They just paid a consultant a million shares to help them figure out their business plan. sec.gov
In short, I don't see why anyone would bother with a BB stock like this when there are plenty of online retailers on the NASDAQ already.
VTCO also hands out new stock like candy:
RECENT SALES OF UNREGISTERED SECURITIES
A. Sales for cash consideration to accredited investors only pursuant
to Rule 506 of Regulation D and/or Section 4(2) of the Securities Act of 1933,
as amended (the "Act"):
In fiscal 1997, the Company issued 3,085,590 shares of its Common Stock
for $405,377 to 12 investors and $135,000 of convertible debentures to two
investors.
In fiscal 1998, the Company issued 1,553,800 shares of its Common Stock
for $243,250 to ten investors and $237,000 of convertible debentures to five
investors.
In fiscal 1999, the Company issued 13,299,832 shares of its Common
Stock for $8,554,549 to 39 investors.
Between February 1 and May 3, 1999, the Company issued 1,514,341
shares of its Common Stock for $3,104,500 to seven investors.
B. In October 1996, the Company issued 427,500 shares pursuant to
Regulation S to four individuals in connection with the acquisition of ARL.
C. In January 1999, the Company issued 373,571 shares to two
accredited investors in connection with the acquisition of GTI's assets and
certain related consulting services. The issuance of such shares was exempt
pursuant to Rule 506 of Regulation D and/or Section 4(2) of the Act.
D. In fiscal 1999, the holders of the convertible debentures as
described in (A) above converted such debentures into 1,173,091 shares of
Common Stock in reliance upon the exemption contained in Section 3(a)(9)
of the Act. 26<PAGE> 27
E. Sales made solely in exchange for services rendered pursuant to Rule
504 of Regulation D and/or Section 4(2) of the Act:
In fiscal 1997, the Company issued 66,000 shares of its Common Stock
to five individuals (three of whom were accredited investors) in exchange for
$132,000 of services rendered to the Company.
In fiscal 1998, the Company issued 144,039 shares of its Common Stock
to seven individuals and entities (two of whom were accredited investors) in
exchange for $99,746 of services rendered to the Company.
In fiscal 1999, the Company issued 2,069,532 shares of its Common
Stock to thirty individuals and entities (eleven of whom were accredited
investors) in exchange for $961,625 of services rendered to the Company.
C. Issuance of options and warrants involving no sale of securities:
In fiscal 1997, the Company granted to ten individuals or entities an
aggregate of 1,341,000 options and warrants to purchase shares of the Company's
Common Stock, exercisable at prices ranging between $.25 and $7.50 per share.
In fiscal 1998, the Company granted to thirteen individuals or entities
an aggregate of 590,100 options and warrants to purchase shares of the Company's
Common Stock, exercisable at prices ranging between $1.00 and $5.00 per share.
In fiscal 1999, the Company granted to fifteen individuals or entities
an aggregate of 6,018,885 options and warrants to purchase shares of the
Company's Common Stock, exercisable at prices ranging between $.25 and $3.75
per share.
Between February 1 and May 3, 1999, the Company granted to five
entities an aggregate of 1,475,000 warrants to purchase shares of the Company's
Common Stock, exercisable at prices ranging between $1.00 and $6.29 per share.
During fiscal 1999, the Company paid the following firms cash
commissions in connection with certain fiscal 1999 sales of Common Stock as
described above: Waterford Financial, Inc.: $50,000; Trautman Kramer & Co.,
Inc.: $98,564; and Janda & Garrington, LLC: $165,000. In addition, Waterford
Financial was granted a five-year warrant to purchase 50,000 shares at $1.50
per share, and Trautman Kramer was granted a three-year warrant to purchase
125,000 shares at $3.00 per share, as additional consideration for effecting
the sale transactions. The issuance of such warrants is described as part of
the above transactions. |
