Monday, August 5, 2013

VFX.v - The "Revenue Scam" redux = $ 11.8m +

“We have spent the past several months partnering with a significant number of wholesale carriers across the globe. These carriers not only send us a portion of their traffic, but also provide us with quality routes to resell."

Wowsers Tubby. Which "wholesale carriers" or "marquis (sic) global customers" (spelled marquee retard) are running to sign deals with yer phat arse? (but not pay)

Naturally in order for the "Revenue Scam" to work, whomever is supposably buying all these wonderful services MUST remain a fully anonymous secret or else the entire smoozle falls apart in 23 seconds. To tackle that the scam will NEVER actually NAME the customer(s). They will say its a "trade secret" or would jeopardize their "competitive advantage" or somesuch complete horsechit.

Best recent example is Tre-X, which used that approach precisely to hide the fact 95% of whatever it "had" was a fraud.
Put very simply Virtutone Networks Inc. (VFX.v) appears THAT CLOSE to complete and total insolvency and IF these imaginary sales are occurring there is zero cash changing hands.

I would challenge these dopes here and now to name the source of these massive revenues so that adequate due diligence can be performed by the public on their ridiculous claims. Not forthcoming? Figures.

""As previously announced, the company produced $1.25-million in revenues for the month of March, $1.8-million for the month of April and now $2.58-million for the month of May. The company expects continued revenue growth moving forward as our wholesale division expands," said Jason Allen, chief executive officer of Virtutone. "

Gross revenue - $1.3-million for the month of February, Virtutone's July wholesale revenue at $3.7-million, $2.2-million in June.

So we have this very nearly dead fukkin broke and insolvent company reporting revenues of - $ 1.3, $ 1.8, $ 2.58, $ 2.2, and $ 3.7 which equals $ 11.8 million for the past 5 months. Riiiiiiight.
Mr. Jason Allen has been Chief Executive Officer and President at Virtutone Networks Inc. since June 30, 2008. Mr. Allen founded MobileSat Communications Inc., and has been its President since November 2005. He is the Founder of Oricomm Inc. He co-founded SatFax and served as its President since January 2007. Mr. Allen served as Vice-President at Oricomm Inc., and Iroc Systems Corp., from March 2000 to October 2004. He served as Chief Operating Officer at Ziracom Communications Inc. He was recruited to run operations and to develop European markets for Ziracom, an Internet startup in 1998. Mr. Allen has been a Director of Virtutone Networks Inc. since June 30, 2008. He served as Director of SatFax since January 2007. Mr. Allen holds a diploma in Financial Management (Major: Corporate Finance) from British Columbia Institute of Technology, completed the Canadian Securities Course, and holds a Diploma in Forest Technology.