JustJack
2 weeks 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
1 month 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
2 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".
JustJack
2 months ago
VAYK Hails $157 Million Federal Grant to Project Almost "Next Door"
Dallas, TX -- March 21, 2024 -- InvestorsHub NewsWire -- Vaycaychella, Inc. (OTC Pink: VAYK) ("VAYK") today issues a public statement, hailing 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 to reconnect Downtown and Midtown Atlanta.According to its official website, the Stitch, once implemented, 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 company's statement read as follows:
"We, the management of Vaycaychella Inc, are excited about the economic benefits and opportunites the Stitch will bring to downtown Atlanta. The Stitch is a huge development project almost 'next door' to our $5 million property, which we had acquired less than one month before the $157 million federal grant was approved for the Stitch. We believe that the projected developments of nearby neighborhoods, driven by the Stitch, will dramatically increase the prospect of revenue to be generated from our short-term rental operation on the said property, and may boost the value of the property immediately."
Last month, Vaycaychella acquired exclusive rights to renovate a historic landmark property, located at downtown Atlanta, into a boutique, multi-unit short-term rental (Airbnb) property. At the time of acquisition, the property was estimated to reach at least $5 million of market value upon completion of renovation, and Vaycaychella management projected that the short-term rental (Airbnb) operation may generate revenue of $500,000 to $700,000 annually. Now, the management believes that those estimates should become considerably higher, although it is still too early to determine exactly how much the Stitch will benefit Vaycaychella's business and increase its asset value.
Slojab
3 months ago
Yes, that's about right. It's addressed in the press release I included at the end of this post. But in addition to the 10 properties, there was also the 3 unit property in the Carribean as weel as the boutique hotel. As well, as the crypto currency exchange. The app has been around for three years and has yet to earn any revenue.
I guess I have a different perspective on VAYK having been reading Justice's press releases all these years. 139 of them. Everything he's tried to do has gone awry and then gone away. I know there's always a chance of success with any venture but the odds seem not to be in shareholder's favor on this one. Just my opinion.
DALLAS, Dec. 11, 2020 /PRNewswire/ -- World Series of Golf, Inc. (USOTC: WSGF) ("WSGF"), through its new subsidiary, Vaycaychella, today announced a transaction underway expected to be completed by month end that will reduce balance sheet reported debt by $1.25 million.
In January of this year, WSGF acquired Vaycaychella, a sharing economy technology company with a P2P App to connect entrepreneurs seeking to acquire short-term rental vacation properties with investors to back them. WSGF is in the process of making a corporate name change in conjunction with its new Vaycaychella business focus.
Vaycaychella is a three-year-old operation that has built a business model focused on financing short-term vacation rental properties outside of conventional financing channels. Vaycaychella's mission is to empower entrepreneurs looking to get into the short-term vacation property rental business marketed through sharing technology apps such as Airbnb, Booking.com and Vrbo.
Now that Vaycaychella has established a proven model through developing a portfolio of properties that includes 10 Caribbean beach front vacation homes, a boutique hotel, and a recently acquired 3 unit building in Puerto Rico with an overall estimated cumulative value of $12 million, the company is scaling that model with the introduction of a peer-to-peer (P2P) application (App) designed to connect new and existing short-term vacation property rental operators with prospective investors.
Management has targeted closing 10,000 short-term vacation property rental purchase transactions within the first twelve months after releasing the production version of its P2P App producing over $100 million in estimated revenue.
WSGF acquired Vaycaychella in exchange for a $1.5 million purchase note. Vaycaychella brought to WSGF a $1.25 million note receivable asset secured by short-term vacation rental properties with approximately $10 million in real estate enterprise value. The $1.5 million note holders have agreed to exchange the note for a control block of preferred shares. At the same time, the current majority shareholder has agreed to surrender his control block of preferred shares in exchange for a $250,000 note. The net reduction in debt will be $1.25 million.
Moneychats
3 months ago
Took a while but I figured out VAYK acquisition debt note. The below is my interpretation after reading VAYK's filings over the weekend:
In 2019 VAYK borrowed $1.3 million from a third-party and used $1.25 million of that $1.3 million to acquire 10 properties in Cuba. This answered @Slojab 's question "where did VAYK get that $1,250,000". Very simple: they borrowed money and re-invested them.
Borrowed money is their Note Payable. Invested money is their Note Receivable. The latter, I assume, is mortgaged on the Cuban properties.
This is an audacious plan. At that time people talked about normalization of US-Cuba relationship under Obama/Clinton. If that happened, those properties' value would go rocket high, probably 5X - 10X. VAYK would make $5 - 10 million, which explains its stock soared to above $0.02, and the company is valued at $12 million. But Trump won, and he embargoed Cuba again.
The problem, as far as I can see it, is VAYK borrowed money to buy properties, and they probably have defaulted on their loan. So they are likely subject to penalties etc. That's why their Note Payable, as of today, is bigger at $1.9 million than their Notes Receivable ($1.6 million). In short their is an interest gap.
But that is not as bad as @Slojab wanted us to believe. The Note is 5 years old. Over 5 years it has only accumulated $300K interest gap. That's NOT a "huge debt". Nor is it a "death spiral". And the company says they are negotiating on more debt forgiveness and that probably covers this $300K.
IMO the company has made the right decision to walk away from the Cuban deal and is refocusing on domestic Airbnb market. They have an APP for that purpose. They need to focus on developing that APP and deliver on their promise of building up a $20 million portfolio of Airbnb. If so, the valuation may go back to $15 -20 million and their share price may bounce back to above $0.02.
Slojab
3 months ago
That's not the total of what I wanted to show.
Acquisition note payable, including accrued interest 1,950,000
This was in conjunction with the aforementioned "notes receivable" dating back to 2020.
Also, in that annual was this.....
Convertible loans, including accrued interest 2,497,404
It's all a lot of nonsense of course. Where did this $1,250,000 come from?
On October 31, 2019, the Company, through its now wholly-owned subsidiary, loaned $1,250,000 to a third party. This
note is secured by ten vacation properties. This note carries an 8% interest rate and matures on November 11, 2024.
NOTE 6 - THIRD PARTY CONVERTIBLE LOANS
On June 30, 2023 two holders of convertible notes forgave the bulk of their notes. As a result, the Company
recorded a gain on debt forgiveness of $2,072,543.
There are two remaining third party convertible notes, one of 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. At September 30,
2023,
$22,080 in interest has been accrued on this note.
The second remaining convertible note was issued on June 12, 2023, for cash in the amount of $16,000 which was
utilized to reduce accrued compensation.. This note carries an 8% interest rate and matures on December 11, 2023.
At September 30, 2023, $386 in interest has been accrued on this note.
NOTE 7 - RELATED PARTY CONVERTIBLE LOANS
On September 10, 2023, the holder of a convertible note converted 100% of the principal balance of $175,000 into
43,057,901 shares of common stock. This holder forgave the then accrued interest of $142,001, which the
Company recorded as a gain on debt forgiveness.
There are two remaining related party convertible notes, one in the principal amount of $50,000, with an 8% interest
rate and $53,500 of accrued interest at September 30, 2023
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