fung_derf
3 hours ago
Who really controls your stock?
On June 3, 2022, the Companyโs majority stockholder at the time, sold their 3,150,000,000 shares of the Companyโs
common stock, as well as a demand note of up to $50,000 due from the Company, both to the same third party, whom
then became the Company's majority stockholder moving forward.
On October 13, 2022, the majority shareholder converted these 3,150,000,000 shares of common stock into 50 shares of
series A preferred stock. Prior to this conversion the Company had filed a certificate of Designation of Series A Preferred
stock on October 20, 2022, to create 50 Series A Preferred stock with super voting rights. As detailed in the companyโs
certificate of designation of the Series A Preferred stock filed with Delaware Secretary Of State, the holder of the Series
A Preferred Stock votes together with the holders of other classes of Preferred Stock and its common stock, as a single
class, and is entitled to 60% of all votes, entitled to vote at each meeting of stockholders of the company, and written
actions of stockholders in lieu of meetings, and also all matters presented to the stock holders of the company for their
consideration or action.
The Company had also filed a certificate of amendment with the Delaware Secretary of State on November 1, 2022,
which reduced the Authorized Common shares to 1,500,000,000 and Authorized Preferred Shares to 50
On February 21, 2023, Global Development Inc., and VeeMost Technologies LTD, an Ohio LLC, completed a merger. Prior
to the merger, VeeMost Technologies LTD was a privately owned LLC, owned by Global Developments Inc.โs preferred
shareholder. VeeMost Technologies LTD merged into Global Developments, Inc., with Global Developments Inc.
becoming the surviving party. The consideration paid was 20 Series A preferred shares. Each preferred share converts at
a rate of 200,000,000 common shares per share
The Company had also filed a certificate of amendment with the Delaware Secretary of State on March 28, 2023, which
reduced the Authorized Common shares to 850,000,000
fung_derf
3 hours ago
In truth, you really don't know what he's doing with shares or taking on debt or how the company exists without revenues.
This is an unaudited company, so you're dealing with many unknowns.
Financials are currently not available.
https://www.otcmarkets.com/stock/GDVM/financials
Warning! Limited Information
OTC Markets Group has confirmed that this company has limited disclosure or financial information publicly available, but meets a minimum requirement for public quoting under Rule 15c2-11. The Pink Limited Information tier may include companies that are delinquent in their filing obligations with the SEC, a foreign exchange or regulator, or under the Pink Disclosure Guidelines, as well as non-U.S. companies listed on a foreign exchange that does not require English disclosure and do not certify their compliance with SEC Rule 12g3-2(b).
Plato_
11 hours ago
Greetings, iamadog! You make great points. Thank you for them. I would like to expand on longevity and no dilution. VeeMost was founded in 2002 according to its website. So, its longevity to date is about 23 years. VeeMost has been a public company for 2 years. It's during this latter timeframe that there has been no dilution. Presumably, VeeMost was a private company for the first 21 years.
On or about February 21, 2023, Global Developments Holdings, Inc. completed its merger with VeeMost
Technologies, LTD., with Global Developments Holdings, Inc. being the surviving entity. https://www.otcmarkets.com/otcapi/company/financial-report/361162/content
These are just my opinions not advice. Do your own due diligence.
Plato_
12 hours ago
About us
VeeMost Technologies Inc. is your trusted partner in delivering innovative, customer-focused IT solutions designed to empower your business. As a minority-owned technology provider, we specialize in providing IT consulting and professional services in the areas of networking and cybersecurity, collaboration, datacloud solutions,, and managed services that help organizations of all sizes achieve their goals efficiently and securely.
Our commitment to excellence is matched only by our dedication to helping businesses thrive. With the launch of our VeeMost Technology Store (store.veemost.com), weโve made it easier than ever to access cutting-edge technology products, software licenses, and accessoriesโall from a single, reliable source.
Are you looking to enhance your IT infrastructure, safeguard your data, or streamline your operations? Whether youโre a business leader, school administrator, or government agency, we have the expertise and solutions to help you succeed. As a proud participant in the USAC E-rate program, weโre uniquely equipped to serve educational institutions with specialized services, equipment, and SPI invoicing options.
At VeeMost, we donโt just provide technologyโwe deliver peace of mind. Let us partner with you to solve your toughest IT challenges and position your organization for future success.
Visit www.veemost.com to learn more, or start exploring our product offerings today at store.veemost.com. Letโs build your future, together.
#InnovativeITSolutions #Cybersecurity #CloudTransformation #TechnologyStore #ERate #DigitalTransformation #MinorityOwnedBusiness
Just noticed that the VeeMost LinkedIn page has been updated to include information about the VeeMost Technology Store . ✔️
fung_derf
1 day ago
Wait, you've been through a like scenario before and yet you're still here hanging around?
Tell us all, how did it end for you last time?
Like I've said, this is no different than any penny stock board on IHUB
Sir, thank you for asking, I will tell you why. Because as of February 14, it will have been two f'n years since he stated there would be a ticker symbol change, and it hasn't happened. All you have to do is hire professionals to get it done, he's a cheap ass. He's not wanting to spend money to get it done because he's so cheap. I've been through this before myself, and I know how it goes and how it works. He needs to be called on his crap. And people here need to stop being his enablers. I don't care if you like it or not, but I'm going to continue to call him on his crap every f'n day until he opens his wallet with a prybar, and gets something done here.
benz280e
2 days ago
Sir, thank you for asking, I will tell you why. Because as of February 14, it will have been two f'n years since he stated there would be a ticker symbol change, and it hasn't happened. All you have to do is hire professionals to get it done, he's a cheap ass. He's not wanting to spend money to get it done because he's so cheap. I've been through this before myself, and I know how it goes and how it works. He needs to be called on his crap. And people here need to stop being his enablers. I don't care if you like it or not, but I'm going to continue to call him on his crap every f'n day until he opens his wallet with a prybar, and gets something done here.
CrossFireTrader
2 days ago
Why do you assume that it's Melvin that's holding up the deal, and not Banks, Lawyers, Accountants, and Red Tape that's often a stumbling block. Or maybe when Melvin did his due diligence the Company didn't live up to his expectations and he scrapped the deal. You're relentless with your finger pointing at Melvin. You really need to just sit back, and watch the Magic. Won't be to long...due time my friend in due time. You may as well just keep on buying as you have been. Just do like me, as I think you have been, set a goal hit it and then just raise the Bar. Make it a Bakers Dozen 😂🤣
Plato_
2 days ago
Fung_derf,
No, my response wasn't AI-generated!
I try to make an effort sometimes to be complete and cite sources when I think it might benefit the reader. Sometimes I do it for my own edification. How does the saying go, "No good deed goes unpunished!" You can test the degree of AI-generated content by copying and pasting the content at https://quillbot.com/ai-content-detector. If you paste my content, you will find that it is 100% human generated.
You're not alone in trying to make sense of blockchains. I think of a blockchain as a database. And a cryptocurrency, like Bitcoin, as an application that queries that database. Of course, a blockchain has some special properties not found in a traditional database (such as decentralized control => security, distributed data => transparency, and read & append only commands => immutability). But fundamentally, it is just a database.
The advent of Bitcoin in 2009 was the first use-case (i.e., application) for a blockchain. The applications being developed today have expanded beyond cryptocurrencies. An increasing number of companies are developing their own blockchains including Walmart, IBM, and Amazon (and VeeMost!)
Here is a good article on how Walmart developed a block chain (often referred to as a "digital ledger") to track food in its supply chain.
https://tech.walmart.com/content/walmart-global-tech/en_us/blog/post/blockchain-in-the-food-supply-chain.html
Here is an excellent video about blockchain for business applications that I encourage you to watch (11 minutes).
To answer your question, "why would this [VeeMost] blockchain be desirable over any of the others in existence?" The short answer is it probably wouldn't be desirable for clients outside VeeMost's target market. But for VeeMost's clients, a blockchain tailored to their needs may be a requisite for doing business.
The longer answer is:
We would have to know more about the use-cases that Melvin's team is working on. In his press release, he mentions smart contracts, supply chain verification, licensing automation, and digital identity use cases. He also talks about "allowing customers to make secure payments with cryptocurrency."
One thing we can say for certain, he is not developing a new cryptocurrency to compete with the 25,000+ other cryptocurrencies already in the marketplace. (1)
We also know, that of the four common types of block chains: public (Ethereum, Bitcoin, Solana), private (Hyperledger Fabric, MultiChain), hybrid (XinFin, IBMโs Blockchain Platform), and consortium (R3โs Corda) (2), he appears to be going for a hybrid blockchain, "Unlike public blockchains that lack regulatory oversight or private systems with limited scalability, VeeMost's blockchain will balance flexibility and governance, making it an ideal platform for enterprises, educational institutions, and government agencies seeking robust solutions for secure and automated processes." (3)
By the way, here's a video on smart contracts that I found interesting (4 minutes).
Regarding Plus 1 coin. That's crazy! That hits pretty close to home, CEO of iHUB??
Sources:
1 - https://en.wikipedia.org/wiki/Cryptocurrency
2 - https://paxos.com/2024/05/22/understanding-the-different-blockchain-types/
3 - https://www.otcmarkets.com/stock/GDVM/news/Veemost-Technologies-Inc-Announces-Development-of-Blockchain-Platform-to-Revolutionize-Digital-Operations-and-Enterprise?id=465238
benz280c
2 days ago
Fungy D,
Blockchain is not cryptocurrency. Cryptocurrency is just one of many uses of blockchain technology. Blockchain is the latest way to store and share data. We have gone from notebooks (paper) to computer files (digital version 1) to "the cloud" (digital version 2) to blockchain (digital version 3). Unlike "the cloud" which is named in a way for people to mentally grasp, the nerds named blockchain for the process used i.e. blocks of information linked by a chain. Maybe better words for it could be Godly Data or Holy Moly or P&T Data (perfected and trusted) or Internet of Things on Steroids, or Honest Abe. This new process allows for greater trust in the security and truthfulness of shared data of varying kinds. Just as many companies come up with their own antivirus software or cloud security (like Veeshield), there will be hundreds to perhaps thousands of iterations of blockchain platforms for varied uses by different companies. IBM, Cisco, Palo Alto and cybersecurity leaders are rightly expected to be able to offer their own blockchain technology platform just as they offered their own Cloud Services. Just as the cloud can be used for pictures music and documents. Blockchain can be used for banking/cryptocurrency or cybersecurity or supply chain management and many other things. Since most non-nerds heard the word cryptocurrency and bitcoin before learning the word blockchain it has caused many to think that blockchain is a form of crypto when in fact crypto is just one form and use of "the process" called blockchain which could be considered Godly Data since it is the highest purest and most trustworthy form of data (for now).
So if Veemost want to come up with a blockchain platform called Veeblock to offer to their clients that would be great. Veeblock could protect and verify their data so well that the client won't need as many employees to do the work that Veeblock is now doing. When a client orders from the Veemost store Veeblock* could transparently perfect and process the order. Thus the store was needed for now and the future. And if Veemost wanted to add Veebucks* to the offering to create easy digital payments for their services, well they could use the blockchain platform for that too since blockchain has many uses. One stop shop for whatever Godly Data the client wants and/or needs for their circumstances.
If this doesn't help, you owe me 30 minutes of my time back but I would settle for less complaints about this stock and 0 complaints once the ticker symbol changes.
*made up words
fung_derf
3 days ago
Was your response AI generated? It seemed overly complete.
I've had people try to explain blockchain to me and failed, so I don't pretend to understand. However, I should have been more precise in my question, which is....why would this blockchain be desirable over any of the others in existence.
BTW, the Plus1 coin failed miserably. Looked to be a scam to benefit the CEO of IHUB and he was replaced shortly after.
From looking at various cryptocurrencies, it seems to favor the creator far more than any user. I think the word "currency" in this case is a misnomer.
Bitcoin is close to a currency. The others don't seem to be,
Plato_
6 days ago
Hello, fung_derf:
I hope this post finds you well. I would like to share one perspective on the blockchain question.
As you implied, there are an abundance of blockchains and cryptocurrencies out there. So, why reinvent the wheel? I think it may be a case of "not one size fits all." Melvin and his engineers are presumably working very close with Veemost's key customers / partners affording them an intimate understanding of the problems that keep their clients up at night. It seems reasonable that there are requirements in enterprise applications that are not satisfied with off-the-shelf blockchains. Committing the company to undertake such a large project seems bold, but they must have conducted an economic assessment and concluded that it was in the strategic best interest of the company and its shareholders.
Our blockchain platform is being designed to solve specific problems for our clients,โ said Melvin Ejiogu, President of VeeMost Technologies Inc. โBy leveraging this platform internally and externally, we will enhance our operational efficiency, strengthen client trust, and create new revenue streams that position us for long-term growth. https://www.otcmarkets.com/stock/GDVM/news/Veemost-Technologies-Inc-Announces-Development-of-Blockchain-Platform-to-Revolutionize-Digital-Operations-and-Enterprise?id=465238
With regards to a comparison between Veemost and PlusOneCoin blockchains, Veemost is targeting the specific needs of the B2B enterprise customer in the network infrastructure, cybersecurity, cloud computing, and managed IT services spaces. Also, as one would expect, the Veemost blockchain will be integrated into its own e-commerce store that was launched a few weeks ago.
[Veemost] is pleased to announce its strategic initiative to build a proprietary enterprise-grade blockchain platform aimed at empowering businesses and government organizations with secure, transparent, and efficient digital solutions. This initiative marks VeeMostโs entry into the blockchain ecosystem with a focus on real-world applications that address supply chain management, licensing, digital identities, and payments. https://www.otcmarkets.com/stock/GDVM/news/Veemost-Technologies-Inc-Announces-Development-of-Blockchain-Platform-to-Revolutionize-Digital-Operations-and-Enterprise?id=465238
About VeeMost Technologies, Inc.
VeeMost Technologies, Inc. is a leading provider of comprehensive IT solutions, dedicated to helping businesses optimize their technology investments. With a focus on innovation, quality, and customer satisfaction, VeeMost offers services ranging from network infrastructure and cybersecurity to cloud solutions and managed IT services. https://veemost.com/veemost-technologies-inc-launches-its-e-commerce-store/
Whereas, PlusOneCoin is targeting the B2C content providers (and platform owners) in the social media space. Essentially a consumer market as opposed to an enterprise market.
This bitcoin-like currency enables content providers and platform owners to monetize their social media sites while giving their audience more power to affect the social media content they consume. Blockchain technology enables cryptocurrencies like Bitcoin, Ethereum and PlusOneCoin (+1 coin). https://www.plusonecoin.org/
So, the comparison on one level, shows some commonality, but a closer examination indicates a comparison between apples and oranges.
This could prove to be a competitive advantage for Veemost. And for a company with intentions to uplist to the Nasdaq, it seems this would certainly support that goal.
Disclaimer: While every effort has been made to ensure accuracy, Plato_ assumes no responsibility or liability for any errors or omissions in the content of this post. The information contained in this post is provided on an "as is" basis with no guarantees of completeness, accuracy, usefulness or timeliness. These are just my opinions not advice. Do your own due diligence.
Plato_
1 week ago
Thanks for the information, tothe!
Yes, I agree that deferred revenues could be a source of funding for the new blockchain project. I didn't see any deferred revenue reported in the 2024Q3, but I speculate, that is because the tax issues had only been resolved for a short period of time prior to the closing of that quarter.
My understanding of the accounting, is that the deferred revenue balance (from all sources) would be reported as a liability on the 2024Q4 balance sheet. Any deferred revenue that was earned (and therefore recognized) during that quarter would appear as revenue on the 2024Q4 income statement. If there are multiple deferred revenue contracts, the amount of revenue earned per contract may vary as you indicated. But I believe, under GAAP, every deferred revenue contract has to be reported (at least in the aggregate) on the balance sheet, every quarter - in the same manner that the income statement, balance sheet, and cash flow statement are required every quarter.
I agree that if revenue was earned in 2024Q4 from deferred revenue, we will see a bump in revenue. Not knowing the size of the deferred revenue, however, makes it difficult to predict what the revenue impact might be. As you indicated, there are several additional sources of potential revenue. These could include milestone payments from partially completed contracts, completed contracts, ongoing service agreements, license fees, new product/service sales, and accounts receivable. As a footnote, I think it is too soon to expect new revenue from the SAM.gov account because three months might not be enough time to receive awards from any bids submitted.
I'm looking forward to the annual report. I think it will be very informative.
Another source of funding for new product development, common in the technology industry, is having the customer pay all or part of the non-recurring engineering (NRE) cost. A key customer (or partner) will request a product enhancement or a new product that is cost prohibitive for the manufacturer to develop. A mutually beneficial agreement can sometimes be reached where the customer pays the NRE. The customer gets their needs met and the manufacturer expands their product range. The "Project Timeline and Key Milestones" published in the press release is something you might typically see in this type of arrangement. But, there is nothing to suggest that this has occurred.
By style, I mean Melvin seems to employ an engineering (Steve Wozniak) approach to building a company as opposed to a marketer or a financier (Steve Jobs). But he does have a grand vision, and that's why Veemost is a public company, in my opinion.
Disclaimer: While every effort has been made to ensure accuracy, Plato_ assumes no responsibility or liability for any errors or omissions in the content of this post. The information contained in this post is provided on an "as is" basis with no guarantees of completeness, accuracy, usefulness or timeliness. These are just my opinions not advice. Do your own due diligence.