Todor Pichurov

Vision Industries, Inc. (OTCMKTS:VIIC) Squiggles Up on Zero News

by Todor Pichurov August 29, 2014

Yesterday Vision Industries, Inc. (OTCMKTS:VIIC, VIIC message board) burst center stage out of the blue and closed 366% up. Daily share volume was a monstrous 149.6 million, against an average of 6 million for the past 30 days. However, the reason for the surge is shrouded in mystery.

There is no recent PR from VIIC and no new filings save for a Schedule 14A that went public yesterday. The company's financial state is hardly a trigger for excitement either. Here is what VIIC had to show as of June 2014:

  • $7 thousand in cash
  • $2.6 million in current liabilities
  • zero quarterly revenues
  • $138 thousand in quarterly net loss

The schedule filed on Aug 28 concerns the failure to achieve quorum at a shareholder meeting conducted by VIIC. Disturbingly, the original purpose of the failed meeting was to increase the authorized shares to 10,000,000,000 – yes, that's 10 billion.

According to the company's OTCMarkets page and their most current filing containing this figure, VIIC had 174 million outstanding shares - a number that is rather a long way away from 10 billion. In yesterday's session alone the company shifted almost 150 million shares. While technically possible, this scenario would be highly unlikely if we assume VIIC still has just 174 million shares issued and outstanding.

The company's last report doesn't make it any easier to get an idea of the possible changes to the share structure. Notoriously toxic financiers such as Asher Enterprises and JMJ Financial are among the convertible note holders in VIIC's last quarterly. Sadly, the company doesn't really disclose the conversion prices of the notes. Asher notes are said to convert at a price “derived from market prices” of VIIC stock but how the price is derived and whether this involves a massive discount is not disclosed.

The last time we checked on VIIC was all the way back in 2012, when it was being pumped and promoters were predicting millions in revenues. Two full years later, VIIC has managed a drop to sub-penny status, is still next to cashless, generates no revenues and has convertible debt that could potentially be severely toxic. With so many red flags in place, investors thinking of chasing the stock up the chart may have something to think about before rushing in.

Comments 2

1. Guest
September 03, 2014, 09:40PM

Quotes Looks like someones jealous they didn't get in on the VIIC gold mine... Putting out some weak basher news so you can buy in, Hey we all gotta play the game, charts still looking bullish. Like stated above article mentions nothing about the companies plans, funding, operations, etc...

2. Guest
September 03, 2014, 04:01PM

Quotes The recent movement was caused by them mentioning the deal they were striking in 2012 is beginning its production.

Its speculative but includes grants from the DOE. If they are finally getting started it could be a catalyst for share price rise and stock investors

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