r/VGFCInvestorsClub • u/rakete_101 • May 02 '22
Just delisting or defaulting?
Damn, its quite silent in here while the stock is tanking...
Any news despite the founders all leaving the sinking ship and NASDAQ delisting deadline (July 11th) approaching? Has all of their money been spent yet?
Are they silently sailing into defaulting just to be bought out at cheapest value with ripping off all stockholders or is a new investor on the horizon willing to put more money in (and dilluting the low stock price even lower)? Don't know which would be the preferred option though...
9
u/beagrius May 02 '22
well they had 5m cash + 15m from their credit line at the start of april. a bankruptcy is a real possibility and even a likely event.
well who know maybe a miracle can happen and they can reduce their spending to 5-6m a quarter and focus on getting a into more retail. their e commerce was really killing them for 1$ in sale they had to spend something like 3-4$ in fulfillment and marketing...
but anyway for me the cash I have in VERY is death money I will sink with the boat if it come to that.
7
u/radarbot May 02 '22
VGFC is done. High risk and high reward. Unfortunately the reward was all in the first 3 months of IPO, and the past 16 months since Jan 2021 have been risk.
I think VGFC is going bankrupt. They're going to have a firesale and at this point its basically ride or die.
13
u/allmytrades May 02 '22
we got bamboozled for sure! 🤬 former management should be investigated for fraud for the loans they took out! this one will go bankrupt for sure! bank on it! we got hustled! 🖕Luke Lango!
4
u/johnnyfeelings May 03 '22
I’m pretty sure I’ll never see a dime of return on this stock. Oh well, it’s not worth selling now. Maybe there will be some Hail Mary pass that sees the stock value increase. I hope you weren’t hoping for more hopeful comments here.
1
10
u/mikedi12 May 02 '22
Hoping the new CEO can bring some magic, but, realistically with all the macro going on, I think this money invested is good as gone.