Wednesday, August 28, 2013

America's dirtiest Hotel loses defamation lawsuit

The owner of a hotel in Tennessee’s Great Smoky Mountains that had the dubious honor of topping TripAdvisor’s 2011 list of the United States’ dirtiest hotels cannot sue the travel website operator for defamation, a federal appeals court said.

Kenneth Seaton complained in a $10-million (U.S.) lawsuit that the ranking for his Grand Resort Hotel and Convention Center in Pigeon Forge, Tenn., which travel website TripAdvisor said was based on traveller ratings for cleanliness, was a product of a flawed rating system dependent on “unsubstantiated rumours,” and was intended to irreparably damage his business and reputation.
Wednesday’s decision upheld an August, 2012, ruling by U.S. District Judge Thomas Phillips in Knoxville, Tenn. It also upheld Phillips’ refusal to let Seaton add claims of trade libel and interference with prospective business.

The Grand Resort closed in November and was sold, according to published reports, but remains on TripAdvisor’s website. Of the 321 reviews, 265 rated the hotel “poor” or “terrible.”

Tuesday, August 27, 2013

Guess the VFX.v revenues contest

If history is any guide Tubby will be releasing some damned impressive numbers next week for that wicked dead broke Sherwood Park PoS of his. Lets recap where we're at.

The last 5 months revenues have been (LoL) $ 1.3, $ 1.8, $ 2.58, $ 2.2, and $ 3.7m. This space supposes Tubby will report something around $ 2.5m for the month, at least, or roughly $120,000 per working day.


“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.

Sunday, August 4, 2013

Latest AgoraScam - Virtutone Networks Inc. (VFX.v) - Update

Here's the location in Sherwood Park where Virtutone is booking (but very clearly not collecting) tens of millions.

240, 2181 Premier Way, Sherwood Park
Naturally we are now interested in the LATEST PoS willing to flip off paper to a busted red handed securities muttdog ... Virtutone Networks Inc. (VFX.v)

Georgie Peorgie is nearly beside himself spewing about "revenues", but for this enterprise hailing from Sherwood Park, Alberta those revenues are coming from a massively rising account receivables and an equally quickly rising payables. Of course company is not profitable and the last financials reveal a co with serious cash flow problems.

"Pursuant to the terms of the agreement, the company will be issuing $12,500 in shares per quarter to Agoracom. The number of shares to be issued at the end of each quarter will be determined by using the closing price of the shares of Virtutone on the TSX Venture Exchange on the first trading day of the month following each quarter for which the advertising services were provided by Agoracom. "

ANY company happy to flip off it's paper with no control over dilution whatsoever is a large PoS, forget the fact that said worthless paper is going directly to a busted red-handed securities crooktard.

Stay tuned folks. This is never rocket science and the largest clue to the nature of this latest AgoraScam scam is a crooked GreekTard.

"As at April 30, 2013, the Corporation has an accumulated deficit of $1,512,603 (January 31, 2013 - $1,467,178). The Corporation is also in violation of certain covenants on its bank debt (note 6) at April 30, 2013."

"The Corporation must also maintain a ratio of total liabilities to tangible net worth (defined as net assets, excluding intangible assets) of not more than 2.5:1. The covenants are assessed by the bank at the end of each fiscal year. At April 30, 2013, the Corporation is in compliance with its debt service coverage ratio covenant and is not in compliance with its tangible net worth covenant. As such, the bank has the right to demand repayment. At June 27, 2013, the bank has not demanded repayment."

Upshot? IF company is rolling in cash flow and massive net worth as they would have public idiots believe WHY is the Co deliquent in its covenant? Further, WHEN the bank pulls that line this dope show will have no liquidty whatsoever, zero, and that assumes it CAN pay it back. (which it absolutely cannot)

Tell us again about all those massive "revenues" Georgie Peorgie.

The "Revenue Scam" explained.

August 1st, 2013 – Sherwood Park, Alberta – Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that its wholesale division generated over $3.7 million in revenue for the month of July. “We are excited to share the results of this record month for Virtutone. We have been growing at a substantial rate, and generated more revenue in July than we did in all of last year. This revenue comes from ongoing relationships that we have developed with other telecommunication carriers. In addition, we’re continually adding new carriers to our customer base, and expect our revenue growth to continue,” said Jason Allen, Chief Executive Officer of Virtutone.

OF COURSE these flaming retards are "excited" but how many public companies release their gross sales figures the day after the month? Fuk all thats how many. The "Revenue Scam" involves setting up one or more bogus enterprises and then billing them for services, which, naturally, they will never pay for. The reported revenue number is 100% and entirely bogus and there is no profit possible in swapping paper assets and liabilities between non-arms' length entities.

Bad debts expense goes to the moon, accounts receivable is a massive large fraudulent fiction and the entity goes tits up in a score of months as no accountant on the planet will sign off on a sickening and very obvious fraud.