PROPHET-of-PROFITS
3 weeks ago
interesting to see what happens now that these have come due.
NOTE 8 - CONVERTIBLE NOTE PAYABLE
The remaining third party convertible note which resulted from a transfer of $414,000 principal of a note to another
third party, which carries an 8% interest rate and matures January 30, 2024, which has been extended to June 30, 2024.
In 2010 the Company issued a promissory note in exchange for $50,000 in cash. This note carries an 8% interest rate
and matures on June 30, 2024.
press releases dropping consistently I look at what notes are due.
JustJack
4 weeks ago
VAYK Exited Caribbean Investments for $320,000 Profit
ATLANTA, Ga, June 27, 2024 /PRNewswire/ -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") announced today that the company has exited all its holdings of rental properties in Caribbean area, and realized a net sales profit of approximately $320,000.
In 2020, VAYK acquired rights to certain properties located in Cuba, for a consideration of $1.5 million, with the hope that the diplomatic relationship between the USA and Cuba would be normalized and tourists from the USA would boost the value of rental properties in Cuba.
In early 2024, the company decided to refocus its operation on the domestic rental market. The short rental industry (Airbnb, Vrbo, etc.) in the domestic market of the USA, which is the largest short-term rental market in the world, had reached a total gross revenue of $64 billion, according to AirDnA.
"It is only natural for us to exit our investments in foreign countries, since our business will be concentrated in our homeland, particularly in mega-metropolitan areas such as Atlanta," explained Stephanie Anderl, the interim CEO of VAYK. "We are happy that, after 6 years of holding, we were able to realize a profit of $320,000 from this transaction."
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
VAYK Contact:
Contact@Vaycaychella.com
+1 972-658-5365
Slojab
1 month ago
Meanwhile, the company has appointed Stephanie B. Anderl, who was recently hired as the company's executive vice-president, to serve as its Interim CEO, until the company appoints its next CEO.
If she does a good job, maybe Ginsberg will make it permanent.
https://www.linkedin.com/in/stephanie-b-anderl-0176b3237/
JustJack
2 months ago
Dallas, Texas, May 09, 2024 -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") today disclosed that the company had been engaging in a strategic discussion with a fast-growing home service company, which is based in Atlanta, Georgia, on a possible deal that VAYK would acquire 50% non-managerial ownership of the home service business. The potential acquisition target is expected to report approximately $4 million revenue for the 12 months between July 2023 to June 2024, with a solid margin of operating profit.
VAYK has not entered into any binding or non-binding agreements with the target business. The management of VAYK, however, are optimistic that the two parties will enter into a non-binding LOI in the next few days.
Management said that it was premature to disclose more details, but believed that it would be a non-cash acquisition deal, which means that VAYK will issue shares to acquire the target business. Management also asserted their belief that any shares issued to acquire the target business should NOT be priced at lower than $0.01 per share, when converted to common shares.
This acquisition will be part of VAYK's new strategy to focus on domestic short-term rental (Airbnb) market. Home service business and Airbnb operation, according to VAYK's management, are synergistic and will likely help each other to grow.
JustJack
3 months ago
April 11, 2024 -- InvestorsHub NewsWire -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") today announces that the company has confirmed with legal experts of its eligibility for $1.8 million investment under a federal program widely known as EB5.
5 Year Interest-Free Loan to Be Paid Back over 10 Years after Maturity
EB5 is a legal immigration program created by U.S. congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under this program, investors (and their spouses and unmarried children under 21 years old) can acquire lawful permanent residence (known popularly as "Green Card") in the United States if they: 1) make $1.8 million investment in a commercial enterprise in the United States; and 2) plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
Vaycaychella has reached out to foreign investors who may be interested in providing $1.8 million to the company for the purpose of developing its short-term rental (Airbnb) project in downtown Atlanta. Vaycaychella expects that the $1.8 million will be invested as zero-interest loan for a term of 5 years, and the company will pay back the loan starting from 5 years later, at a interest rate favoring the company, over a period of another 10 years. In exchange, Vaycaychella will work with the investor to secure EB5 green cards for its family. The final terms and conditions of the investment is subject to the negotiation between Vaycaychella and the prospective investor.
$157 Million Federal Funds for Neighborhood Development Project
Vaycaychella made the announcement after the grant of $157 million dollar of federal funds, to a downtown Atlanta project called "the Stitch" ( https://www.wabe.org/feds-award-157m-grant-to-reconnect-atlanta-neighborhoods-with-the-stitch/) . The project is only two blocks from VAYK's newly acquired $5 Million short-term rental property.
The Stitch (https://thestitchatl.com/) is a transformational civic infrastructure investment needed to reconnect Downtown and Midtown Atlanta. Once implemented, the Stitch will create approximately 14 acres of urban greenspace and transportation enhancements atop a new, 3/4-mile platform spanning the Downtown Connector between Ted Turner Drive and Piedmont Avenue.
According to an estimate cited by its official website, the Stitch would bring new residents, jobs, and visitors downtown and include an estimated 3000+ units of nearby affordable housing. This could result in $2-3 billion in private investment that would generate $21 to $58 million in new annual tax revenue.
The Stitch, according to Vaycaychella's management team, will greatly improve the prospects of the $5 million short-rental project to be developed and operated by Vaycaychella in the same neighborhood. It will likely make the project more attractive to potential EB5 investors who may invest $1.8 million for its development.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Slojab
4 months ago
First, the headline .....
VAYK Reported Over $2 Million Net Income for Fiscal Year 2023
Then, the caveat .......
However, the management cautioned that net income during the year 2023 was mostly from forgiveness of debts. The company has not yet posted any operative revenue, as its new business plan has only been implemented since March, 2024.
That's a pretty big "however".