Working for a safer market (VSTEX) | Press Releases

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Working for a safer market (VSTEX)

Written by Samantha Goldflake

Wednesday, 30 January 2008

On January 17 and 28 we made 2 announcements that could be related to building up investors confidence. This is the third announcement of the serie.

With immediate effect, the VSTEX (Virtual Stock Exchange) won't accept startup companies and any other company with less than 3 months of regular activity.

Applicants will also have to provide us at least a single step income statement for the last quarter or (for 3 months old companies) the single step income statement for the first 3 months. Any additional report will be appreciated.

The above mentioned requirements are being extended to the applicants that as of now have yet to be accepted or refused.

Startup or new companies tend, while often carrying out interesting and compelling ideas and plans, to be very volatile. Since the VSTEX started operating, we got many enquiries from startup and new companies (more are coming) while just a few were from well extablished companies.

In an effort to keep our exchange balanced and safe, we are now focusing on companies that, after 3 months or more, have got a grasp of their business and want to expand, raising more funds with an IPO.

In the long run, this will make the VSTEX a solid and appreciated virtual marketplace.

Samantha Goldflake
VSTEX Communication and Public Relations Director

http://www.vstex.net

Comments

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Samantha Goldflake

|2008-01-31 06:51:03

It's amazing to see how many announcements are posted by virtual companies when
they have to raise money.

At a later stage, that changes. In the best
evenience, the company does not post announcements, but at least the CEO is
still there.

It's about time to do something about that. To be honest,
something had to be done way before the new LL banking policy. We need more
serious businesses, with a more serious attitude.

Exchanges do play a primary
role, they can't be "hands off" platforms and eventually blame it on the
investors, when things go the wrong way.

Since this announcement we're going
for quality, not quantity.

Samantha Goldflake
VSTEX Communication and Public
Relations Director
http://www. vstex.net

zoggo

|2008-01-31 06:07:02

Thanks Samantha.

Off course due diligence needs to be done by the investors
self.

Thats why I sold of my shares of a company with was very difficult to
trace. Also that company post not so many announcement.

So, I was just
curious :-)

Samantha Goldflake

|2008-01-31 05:01:02

The audit is still running; before we publish anything, we'll wait to check all
of the listed companies. We will also give them some time to correct any problem
we may spot (companies get the audit results immediately).

Pleas e understand
that the term "audit" we used refers to a simple exam consisting of:

-
compliance with the VSTEX rules
- compliance with our recommendations
- level of
reporting and communications with the shareholders
- consistence of the company
prospectus with the informations publicly available.

So our "audit"
won't reveal if a company is either in good or bad shape. What we're doing now,
it's something every investor could do on his own, but apparently a lot of
investors fail to apply due diligence.

Hope this helps,

Samantha
Goldflake
VSTEX Communication and Public Relations Director
http://www.
vstex.net

zoggo

|2008-01-31 04:12:56

Samantha,when will the results be publiced of the audit you held under your
listed companies as stated in a previous announcement of vstex?

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Last Updated ( Thursday, 31 January 2008 )

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