3D Eye Solutions, In (OTCMKTS:TDEY) Emerges from Obscurity

Last Friday was a big day for 3D Eye Solutions, In (OTCMKTS:TDEY). That’s when the company announced that Edward Vakser is no longer at the helm. Wonder why that’s such a significant piece of news?

Well, Mr. Vakser has been involved with TDEY since 2013 and he has made quite a lot of promises over the past couple of years. Different business plans were drawn, numerous press releases were issued and they never lacked in the forward-looking statements department. Unfortunately, the fact that TDEY was firmly stuck to the absolute bottom of $0.0001 until a couple of days ago shows that none of Mr. Vakser’s plans materialized.

That, considering his track record is not really much of a surprise. Mr. Vakser has been (and still is) involved with quite a few OTC enterprises like PBS Holding, Inc. (OTCMKTS:PBHG), SUTIMCo International Inc (OTCMKTS:SUTI), Auri Inc. (OTCMKTS:AURI), and ProTek Capital Inc (OTCMKTS:PRPM), and it’s fair to say that not one of these companies has made any impact on its respective industry.

They did have an impact on investors’ pockets, however, and as a result… well, let’s just say that Mr. Vakser isn’t particularly popular with the investment community. His brushes with the law from a few years ago are not helping him on that front.

He’s no longer involved with TDEY, though. The new management team consists of Kent Linduff who will act as a Chairman of the Board, Ken Holderbaum who will be a Director, and Linda Linduff who will take the responsibilities of Secretary and Treasurer, and after announcing the changes on Friday, they issued another press release yesterday, saying that they are going to conduct an internal investigation around the convertible debt that they found in TDEY‘s books when they took over. Apparently, they reckon that Mr. Vakser and the rest of the former management team weren’t working in the shareholders’ best interest when they were issuing the numerous toxic notes.

Thanks to the news, TDEY registered its first interesting session in a very long time. In fact, more than 1 billion shares changed hands in a matter of just six and a half hours which is an absolute record. The ticker gained 50% and it reached $0.0003 which, believe it or not, is the highest close in almost thirteen months.

Apparently, some people reckon that with Mr. Vakser out of the picture, TDEY will finally be given room to breathe. But will this really be the case?

Unfortunately, information around the company’s current state of affairs is somewhat scarce. The latest financial report is so haphazardly written, that it borders on being completely useless, which is probably why, TDEY‘s profile is adorned with a Limited Information sign. What we can gather from the statement is that the company had absolutely no cash and no revenues at the end of Q2.

The previous reports are more detailed, but they also hoist some red flags. The Q1 statement, for example, tells us that TDEY is authorized to issue 9 billion shares of which nearly 7 billion were outstanding four and a half months ago.

With a share structure as hideous as this one and with a lack of any financial results, the stock will have a really hard time keeping calm even at these modest levels.