Michael Smedley VMS Ventures Inc. VMS-X HOLD Mar 20, 2013

Small company, may have good upside. Own a very small position.

The merger with Info Logic makes sense because Versatile by itself has not been able to get much traction by growth. Once you put all the numbers together, there doesn't seem to be a lot of net income left over. Fully valued.

Acquired Perfect Order, but market reaction has been a bit of a yawn. Thinks there is some opportunity here, but it will probably be about 6 months before you see the combination of the results.