Ray, I've picked out one of your posts to make this commentary to the forum group as you seem to have some very informed contacts and seem to continually come up with interesting news and views with regard to XVN.|
The majority of forum commentary, certainly in the last little while, has had little to no information versus hand wringing and well founded frustration over the lack of forthcoming info from company execs. I read this forum to pick up on news releases that people who seem to have a lot of time on their hands find and post. Frankly, it's a pain in the butt to have to read thru note after note w/o any of what I would term concrete news items. My little beef....but I have empathy for those who have bought high and now have what seems like a sinking stock on their hands. I daresay a lot of folks bought in because of a George Chelekis article or similar Internet investor group item. Certainly a ton of people seem to have come in on the premise of XVN being about "Picture Print" and trusting that this would be the pot of gold at the end of the rainbow.
By now most readers are thinking "who the hell is this guy"? I'll tell you because I want to try to provide some positive insight into XVN and the principals. I have only posted twice in the past and that was to ask about RRSP eligibilty of the stock if it went to NASDAQ (a Canadian investment comparable to our American cousins IRA).
Lee Edmondson is my oldest and dearest friend. I've known him since I was 12, went through school with him, played on a championship basketball team with him (one of the players on an opposing high school squad was none other than Mr. Norman Knowles)lived with him and his family when my parents moved to another district in order for me to finish school with him and my teammates. He was best man at my wedding 5 years ago and I named my son after him.......get the picture? Lee has a wonderful wife and 3 beautiful young kids, we are both 42 and born a day apart.
Well over 2 years ago Lee made a decision to pack in the rigorous travel schedule that comes from being a stock promoter and expend his considerable energies on taking an idea from seed to an active company. He was also being extremely pressured to stop traveling by that same wonderful wife.........265 days a year can kill a marriage. That idea was the XVN system. He called me one day, took me for lunch and told me about the concept and gave me an opportunity to buy 20,000 shares of Preferred Stock in a company called Sage Ventures. I paid .25 a share. Sage Ventures became XVN over time. I bought another 8000 common shares at .35, sold 4000 when it hit .70 to cover my ass.......I should have had more faith but I have financial pressures like a lot of you do.
About October of last year I discovered the Internet, George Chelekis and types and, of course, this forum. Well good old George got me cranked up too and I started buying more commons at as high as $2.50. Prior to that purchase I could have gotten out at $3.20 a share and turned $5000 into $60,000 but I DID NOT! I have since bought down from $2.50, last purchase was at $1.07.........I no longer have extra cash having changed from employed to self employed back in June. S..t, wouldn't I have loved to have bought at .60!!
That's some personal backdrop, now some meat for you folks........just don't expect any "insider" info. When I talk to Lee about his business, it's in generalities as I would never dream of putting him on the spot despite our long term relationship.....it's a great way to kill that same relationship. I have appreciated him letting me in on the ground floor and never once have asked him if I should buy or sell at a specific price.......since the first buy of preferreds, I've been on my own. Suffice to say he has always been positive to an extreme about where XVN is going.
The last time I had lunch with Lee (early June around our B-days) he created a huge green monster in me via his enthusiasm over just how big he expects XVN to be. I brought up this news group forum, showed him a few postings and he grunted over his clubhouse sandwich. I was really only concerned about the reported move to NASDAQ because in my uninformed little world, I was under the impression that I would be forced to sell most of my XVN holdings if it exceeded Canadian RRSP maximum 20% foreign company content rules. He said that was a concern of his too and a battery of legal eagles were looking into it. At that time the rumour mill had XVN going to Nasdaq (if you'll recall) and I showed him the postings from this forum. He confirmed that rumour to me in June but as we all know now, it never happened. Todate, I have not asked him why.
I will tell you what he told me to tell you folks at that time.
"You go on the net and ask these people if they had an opportunity to buy CBS stock as TV was coming out in the early 50's, would they like to hold it now?" The gist being (some of you seem to have picked up on it) is that once the XVN systems become commonplace in bars, nightclubs, taverns, basically anywhere people drink and listen or dance to music, a network will have been established. There are over 35,000 such establishments in North America apparently. Yes, the revenue potential of all these modern day jukeboxes is stunning BUT THE ADVERTISING REVENUE POTENTIAL IS ASTRONOMICAL. My old buddy is positioning himself to be a Ted Turner in his own right. Think about it folks, it's Superbowl Sunday and the "boys" are at their favorite sports bar..........can you think of any companies that might like to target that audience demographic for a specific sales pitch? How about on any given night pitching a local product or service between the music videos being played? How about advertising on the boxes themselves........cigarrette companies anybody?
"Jim, I've built the razor, now everyone is going to have to pay for the blades that go into it!"
These boxes will become commonplace. Recording artists now have the long arm of royalty rights extended right down to the Loonie (quarter for our American cousins, no doubt) that you drop in the system to play because it is tracked as only a hard drive facility can do.
It's no wonder to me that we haven't heard from Greg Butts for awhile, he's probably too busy trying to wrap up SW States distribution rights, right Greg? He seems to have some jingle based on his comments about # of stock he purchased. Why don't I get distribution rights in B.C.? I'm Lee's oldest friend, not his business partner, I fear that I've been beaten to the punch and besides, I've been peddling employee benefits for 20 years (group insurance)....old dog, new tricks. However, I will be asking him exactly that question on the 11th when I go to the meeting........maybe it's not too late to get in on the actual system distribution.......but I'm assuming it is.
His last words on XVN at that luncheon......"Picture Print will be like a rocket, it'll take off quick, but XVN will be like a cruise missile, a long slow burn but up all the way." I was so excited by his enthusiasm that I got my parents, brother, family friends, etc, etc, to buy in before this thing went to NASDAQ..........around the $2 CDN level. Guess how popular I am with some of them now! But guess what? These people know Lee and me and our relationship and they are waiting just like you and me for this baby to launch.
Lee already was and is well off by anyone's standards.......this company is his baby and he hasn't spent over 2 years plugging away just to shill you folks out of your hard earned bucks. He and Norm seem to be the world's worst communicators, no question about it, but this isn't a Public Utility where they answer to Pension Plans, etc, etc. It's a penny stock company that can and I firmly believe, will take off. He was talking in terms of being worth HALF A BILLION DOLLARS from this baby. My quick math made my (now 35,000 shares) holdings worth a million when that happens.........exciting stuff for anyone.
I passed on making a quick $55,000 and have invested about another $10,000 in this puppy. When I pressed him at that same lunch if I should liquidate everything and buy, he said no because there is still an element of risk....as in any equity investment. He was right because I bought too high compared to where it is now. I don't know why they didn't go NASDAQ, I don't know the details of why VTI is being spun off the way it is, but I do have unqualified faith that Lee and Normie will do what it takes to make XVN huge. Their success is our success.....for me, it's blind faith. I'm, only telling you folks this overlong message to try ease some of your well founded concerns about lack of info..........the boys really do play their cards close to the vest. I don't know why the stock dilution has taken place.
Gerry Porter says he'll be there, you folks can pose your hard questions to Lee and Normie thru him. I'm going there to listen, see my buddy who I just don't get to see much of anymore, and hopefully arrange a fishing date with him in the near future.
Here's to future riches, people, I've gone on far tooooooo loonnnnng.
Good luck to all of you, FWIW, Jim