funding plan, page-13

Vyking, I think you need to calm down a bit.

May I remind you of an earlier post you have made on VCR.

http://www.hotcopper.com.au/post_single.asp?fid=1&tid=691098&msgno=2989129#2989129

Actually, you only ever seem to post on VCR. Your analysis in this post is very pointed, particularly in light of current developments. I have also expressed concern in the past that we are headed for a T/O at a ridiculously low price, probably engineered by the current directors, which means that long term holders will be forced to sell at a loss.

I'm very disappointed with VCR, because I believe the product is excellent, but it looks like the directors are simply dishonest. The whole ASX seems to be crawling with crooks that run companies purely to pay their own inflated salaries.

I've got a list of other directors from certain other companies I've lost money on, that seem to follow the pattern of building up a company prior to a cap raising, then letting it run down, repeatedly. Any company that has a director who appears on my list of crooks is simply NOT an investment prospect for me. Looks like I might have to add the entire VCR board to this list.

This is a big disappointment for me, because I thought VCR was a more substantial company, with a real product, and for a long time I thought they could get through to commercialisation without raising additional capital. The implant rate has just slowed dramatically though.

I posted the numbers on the implant rate this week. It's only been 17/month for the last few months, whereas I was assuming it could / should get up above 30/month.

Agree completely that a failure to explain this, or even MENTION it is a major failing of current management.

While I will not sell my shares - I'm down about 90%, so what's the point?? - I'm not confident about a positive outcome here for current shareholders.

I'm also not decided on participating in the cap raising. One obvious reasoning is that it's just throwing good money after bad. On the other hand, there is always the potential for it to recover. What's another 7% of my original investment?? On the other hand (yes, I have 3 hands today) - I can buy the same number of shares on market for less dosh.

Abu had some good points on the cap raising, and I hope to see a reasoned discussion of the pros and cons of this raising on the forum.