Apr. 21 at 9:29 PM
$VS As @Dredub0523 brought up last week, Paul Feller is taping his other private company, Aspis Cyber, to once again, funnel money into VS to keep the ticker in nasdaq compliance. This time to the tune of
$1.7M
Here's how it works.
1. VS is running out of money and its "bank account" (called stockholders' equity) is too low. If it stays too low, NASDAQ kicks VS out of the club
2. ASPIS (a company controlled by Paul Feller, the same guy who runs VS and iCaro Media says: "Okay, I'll give you
$1.7 million in cash.".
3. In return, VS gives ASPIS a bunch of new shares of VS stock. The price per share is set at 105% of whatever the stock price was the day before they finish the deal. So if the stock is trading at
$1.00 the day before, ASPIS pays about
$1.05 per share.
Basically insider $$$ is being pumped into VS to keep it alive and listed. The company isn't selling to random outside investors. It's selling to a company run by the same people who already control a huge part of VS.
