I bought in over half a year ago when prospects were looking rather exciting and the only observable issue was that there were regular delays to things (pretty par for the course). I started raising objections to management when I felt we were being kept in the dark on AK (notably when "the deadline" came and went without a single word on the development for over a month), and was looking for an exit point when the AK acquisition suspension took place. As you would know from that announcement, the SP went on a downward trend literally from the moment it reopenied (although it did open 50% higher) until all gains in the last year were lost.
Since you've taken such a personal interest in me and my investment, you would already know that it was the second suspension (the previously unmentioned "financial closure" of the acquisition deal), where trading was put on ice and SHs were placed in the cone of silence until bonuses were backdated, a CR was (not) announced and the quarterly was amended, that I lost all faith in VEC's management. Before that suspension VEC had poor communication, but during that suspension it became clear that VEC was *actively* keeping SHs in the dark, and every announcement that has come out from that point forward has made it more clear why they've been keeping us in the dark. I made a very clear, conscious and open decision to sell and leave this confetti train behind me during that suspension (sell sentiment and all), but as I've said multiple times, I'm not going to sell into a panicking market. I haven't had an opportunity for a solid exit point since the latest suspension was lifted; as you know already we've taken an absolute wallopping since reopen.
I did my DD when I invested ~8 months ago, and back then the only observable issue was "things are taking longer than anticipated". I had issues with not being told what was making a "two week acquisition" take what turned out to be a year, but the resource itself was worth the risk. My perspective changed (and I shifted to exiting) when it became clear that VEC's management was deliberately keeping us in the dark, handing out shares like confetti, being dishonest about the state of affairs (to our knowledge we had LT funding secured only to find out after the fact that magna was now our short-term lending solution), and the whole "AK justifies everything" was rubbish.
It was only a few weeks ago that a public statement was made about "all the exciting new things we can announce now!" and there has been *one* positive announcement since then (that's speculative anyway). Still no finance announcements, no other positive announcements, just the one, but none of this entire sh*show has stopped management from patting themselves on the back or lining pockets.
My DD failed in the sense that I didn't have a crystal ball and didn't see the last two or so months of garbage coming.
You, on the other hand, have jumped down my throat for "downramping" despite sounding the alarm before a *50%* drop in SP, and for looking at the TA to predict a reversal that has little to do with fundamentals, and now for not being psychic despite being consistent in my position!
I don't know what I could *possibly* do to please you and your like-minded ilk. I have *every* intention of jumping off the ship when I see a decent exit point. I don't wish *any* harm to anyone's investment, ramper or not, and actively *hope* that I'm wrong for everyone's sake, but I have listened to rampers make excuses for VEC over the better half of a year and we're currently below the 52wk average and have only ever really gone upwards on clear, short-term pumps. Yet you (plural) continue to call me out specifically for, what, exactly? Because I'm not happy with the current state of affairs? Because I disagree with you? Because I hurt your feelings?
Or does it just make you that damn mad that I've been right so far, and you haven't been. Because if it makes you feel any better, I'd rather you be right. That'd be the best result for all of us.
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