Director lifestyle (oops I meant to say oil exploration services) group Vialogy (LSE:VIY) needs to raise cash urgently or it is going bust. That is not just me saying that,. That is the bombshell from its auditors that the company snuck out over Christmas when no-one was watching. Its attempts since then to sucker private investors into buying the stock so that it can get a rescue placing away ( at a huge discount ‘natch) display a cynicism which is quite extraordinary. Anyone buying the stock in the market is being exploited shamelessly as I shall detail below.
The shock warning from the auditors came out on December 31st. Yup, New Year’s Eve when no-one was paying attention. I try to watch this company like a hawk but I missed it. The statement is pretty clear:
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