UPDATE VEI

UPDATE ON VEI


THE FOLLOWING ONLY REFECTS MY OPINIONS ON THE ACTUAL SITUATION WITH VEI (verb exchange) AS AN INVESTOR. I COULD BE TOTALLY WRONG BUT UNFORTUNATELY THEY (VEI) DECIDED NOT TO COMMENT OR MAYBE THEY CANNOT FOR CONFIDENTIALITY REASONS. AS A DISCLOSURE I STILL OWN A GOOD CHUNK OF VEI.

Well, some weeks ago this was the gamble of the year but as time goes by, i think it went very bad to the point it could be totally worthless.

I tried to get in touch with somebody at VERB and there are many phone numbers to try but with limited success (604-684-4105 604-685-8363 604-684-4115). Their automated system on the 1-866-824-2273 numbers for Tabrio will transfer you to the receptionist and then to Joel their IR person when you mention Verb Exchange. At least there is still 1 employee working at Tabrio. In the past it was Arlen Hansen but I think she is actually on a leave of absence.

He was kind enough trying to explain that he does not know anything about VEI actually and that they are not getting anything to rely upon from Verb Exchange. In the past they were getting updates on a timely manner but since December 2009 nothing as surfaced form VEI.

I also told him that many rumours about bankruptcy or closing were circulating and his answer was stunning: (quote) I have not heard anything about that YET...(end quote)

I even think he was a bit embarrassed by this situation. Definitely not the problems IR are used to face…

I even sent them (the IR dept) this article for review (this is why I decide to postponed until 5 pm to give them enough time to answer if they wanted to but got no news from them (at least some weeks ago they would reply). This lead me to presume that I may not know anything more than they do about VEI but at least nothing written here is false or inaccurate.

The phones lines are still working (automated one…) and Tabrio site is still active and they still have a receptionist.

But the main site is down, all links from internet are down and nobody seems to be aware of that. Are you telling me that an operating company would not know that their main site is down since 3 days??? (it finally got back to life today at 2:00pm sometimes after my call)

To me that does not make sense and it all seems like a closure of that company or at best maybe, just maybe Tabrio was sold explaining why it is still active. If that was the case (some kind of merger) that could probably be the best news we could hope for and would fix the financing problem.

Just the way it has been done, the absence of communication (we are in 2010) and this lack of transparency are unacceptable from an international company and have nothing to do with size but professionalism.

If something went wrong, let us know and then we can make our own opinion and decide thereafter on what to do. It would not be the first time that any corporation has problems and it would not be the last time. But at least we deserve the right to know what is happening.

They were a lot more communicative when it was the time to refinance than it is today and whatever is happening, it will leave a bad taste in the investors’ community.

We as investors have the right to know what is going on and I am sure that a transaction halt should been put in place to protect investors that could be tempted to gamble on this stock.

We all need an explanation and need it now.

When times are difficult for any given company, it is the time to let shareholders know. A simple news release stating that they were working on a solution to fix actual problems would have been sufficient. The lack of any communication opens the door to rumours (bad or good) and is never a good idea.

I must admit that no news is sometime the greatest news and even if I think they are dealing with refinancing issues from within, 14 weeks without any update is more than enough.

So VEI, it is time to explain the problems and the outcome.

I may be totally wrong but based upon what can be seen, It was the gamble of the year and now it looks more like a black hole and that is the reason why VEI will be removed from my gamble of the year page today!

Whenever we get the deserved info I will kindly review and post accordingly.