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Having 50% of the stocks doesn't mean you can do whatever you want not accounting whatsoever about the other shareholders.
If large ones (or large groups working together) decides that time has come to stop fooling around, they can place Matin in front of more or less interesting alternatives ... that obviously assuming that Matin is still totally reluctant to open up.
If, not totally reluctant, Matin still doesn't ANSWER ALL QUESTIONS needing answers as fast as desirable, time may be needed to get him to comply or face less interesting alternatives.
On the other hand, after that many years of fooling around, may be some answers remain tough to answer, even if Matin honestly wants to collaborate.
What's behind that post of mine (assuming my hypothesis to be right) also imply that the whole affair may still endup in court. However from what I heard, Matin seems to now show goodwill, because of menaces or for reasons of his own.
We soon (???) shall be fixed.
If you look at history (quite an ugly one) you will see that:
1- Matin dissappeared for 2 years and the stock became worthless for a couple of years (1999-2000 if I remember well),
2- Matin came back and the stock became alive again (2001 or so),
3- Matin lauched his 'Synergy plan' (Dec. 2002) which became a disaster thereafter, forcing Matin into secretely doing moves he tought he coukld rapidly undo without the shareholders noticing (as I said, optimist and incompetent business manager).
4- Hard to beleive but 5 years later, having piled up new lies (or erroneously assumed realities) over old ones, Veltex still trades, a business does exist but reality is to say the least tough to see.
Assuming that, AFTER FEBRUARY 2007, some people and events did force Matin to 's.it or get off the pot' as was suggested earlier, how long could it take to set the records straith having verified numbers and documents.
5, 6, 7 months or less?
All we KNOW is that it seems to be more than 4 months (starting end of February).
I therefore do not beleive that 'as more time passes it makes vlxc look worse and worse' but MAYBE it will end up having made vlxc look better ... Who knows ???
If it was the same old game as you say,
1- the audited financials would have been out 1 month ago,
2- the same disclaimers we saw when Anne Tahim audited the company would have been there (then making the report totally meaningless) and
3- you, many others and I would keep hitting the same nail on the head (credibility of Matin).
Not knowing the future, assuming what we were told is what's going on (tough to get signatures), I think that the game asw change:
1- Disclaiming saying that all we show is what Matin said isn't acceptable anymore,
2- Unless tough questions are answered BEFORE the audit get released, required signatures will not get on papers
3- Signatures are not available because those having to sign will only accept to do it knowing the normal process has been completed (standard disclaimers only are required).
I suggest that not having the audit one month after Matin's deadline and not seeing the normal Matin's useless news release could very well mean that the old game is over and the new game is in the works (but not yet ready to be played).
JMHO once more ...
I do not know Steve nor have I talk to him. However reading discussions about him, it reminds me of the V.Duff's days.
She tought Matin had something worth working for but she dropped Matin because he wasn't listenning to her advice (that I got from her).
Now, I THINK Steve's advice is much more listenned to by Matin and that seems to be because Steve now has allies (large shareholders) supporting him and getting Matin to understand that old days are over.
If so, a lot of work was required to get out credibly the current picture of what we own.
JMHO
Fair question.
The fair answer is: ' I do not know '.
If I had INVESTED in this stock (i.e. looking for a specific return within a specific timeframe) I would by now have been gone for a long time. (as an example, I sold Bombardier last week and made pretty good. That increased my allowed speculative possibilities and I bought 6,000 more VLXC).
VLXC is a SPECULATION (some would call it a bet) and I normally keep my bets on the table till the last card is turned. If I loose it all, it goes with the game. If the right cards come out I win big (means 4 to 8 times the bet). I also have the possibility to get a draw (leave with my money back if I endup KNOWING about a negative outcome before others do).
You (and I )can beleive whatever you (I) want and no one (unless they know for sure based on FACTS) can blame you or I.
Disagreement is welcome however.
As for some of the points you make,
1- I heard that the audit was completed, it was sent to someone for final certification (the intent to have a verifyable credible set of AF is not a joke for those now 'helping' Matin) and new questions were raised (better have them raised before the AF are released than herein after it's been released).
2- I do not say, directly nor indirectly, how long it will take to have them released but honestly, I hope they take whatever time is required to DO IT RIGHT this time (I suggest weeks more than months are the measurement to use).
3- 'You write: if everything can't be proven without a doubt, then no audit'. I agree if by 'no audit' you mean no release of the audit. As you say, this time, because of pressure exercised by some, Matin does have to s.it or get off the pot.
4- As for Matin speaking to shareholders or to the market, it finally seem to sink in his head that not speaking is better than telling stupidities creating more questions than answers. (that goes to PR's accepting to release anything for a buck). That's one of the fundamental change there seems to come from the 'group work' going on behind the scene.
5- You finally say: 'I can only draw conclusions from what I have seen, heard, and read'. Fine with me. I however beleive (but do not reraly know) that something has changed since the last communications from Matin and the past may not anymore be a good basis to project the future.
This being said, I may be fooled again but my DD suggest I'm not.
Not knowing with certainty, VLXC obviously remains one of my 4 or 5 SPECULATIONS. Fortunately, over the years I got my cost relatively low and, recognizing the risk, I can reasonnably HOPE that the reward will end up having been worth the wait.
If not, it goes with playing the game (of speculating).
Kind of interesting to read messages from people being very affirmative about what is or not going on within the company, considering the bottom line thesis is: Matin lied in the past therefore he will in the future.
It's a possibility.
However another possibility is that for whatever reason, Matin may have had to do whatever will be required to come out loud and clear letting the thruth to be known ... whatever that is.
If so, a serious auditor, knowing what did happen in the past, would need verifyable answers to a lot of very specific questions before he put his name on tha AF.
Tough to imagine (what else can we do) how long such a process could take and how close we are to have it completed.
The good news (a guy takes whatever he can get) is that Matin refrains from issuing useless NR's and PPS is relatively stable, notwithstanding the current situation.
The board says nobody realy cares much about this stock.
I have a hard time beleiving that someone woke up this morning (or any morning in recent weeks) saying" 'Today I will buy ADVC shares'.
Then who is buying and why?
My view (but I do not realy know) is that someone (close to the company) is accumulating, waiting for news to boost the PPS (a little, somewhat or a lot ???).
The company did not restate its financials just for fun and it did not have to simultaneously confirm their stategy of growth by acquisition (being quite precise regarding the acquisition referred to).
The question is: When will the acquisition be completed and the news be released?
Notice I keep mentionning that Matin is an incompetent BUSINESS MANAGER.
This being said I beleive he also has qualities as operations manager in our industry and, notwithstanding his naivity, he has not giving up even after real disastrous circumstances (business partners cheating, transportation venture failing miserably, ...).
The guy didn't give up.
If he effectively figured out that listenning to his advisors is worthwhile (which he didn't in the past), the future may still be good.
We shall see.
'I really don't believe this company cares much about stockholders. I believe they feel we are a nusance and not worth the bother.'
Unfortunately, not being competent as a business executive managing a PUBLICLY HELD COMPANY, that's what Matin's behavior has been all along. I beleive that all he understood is that by being a publicly held company, he had access to capital otherwise not accessible (issuing shares).
He initially tought that using shares to finance the company would be a short term strategy (he then was betting on the then very popular 'Synergy strategy' which (as many) failed miserably.
Optimist (but not realist) Matin tought this only was a temporary step back, he mortgaged assets hoping to RAPIDLY get them back when things would go better.
As of the BOD 2004, he did try to get back our assets by issuing new shares (shocking for those beleiving we owned them all along) but some shareholders (a lawyer, large shareholder in particular) got him to not do that.
I now hear that this issue (ownership of the BD operation) would since have been resolved ???
I finally hear that large shareholders did get Matin to agree that time had come to say it as it is and say it in a credible way.
Matin currently has people helping him and I beleive (but DO NOT KNOW) that the next months should bring us more than AF only.
Again, I live 3,000 miles away from our HQ, Matin sent me his last e-mail answering mine, almost 2 years ago (telling me to sell my share and go away) and I therefore rely on a couple of sources who seem to be closer to Matin than I.
This however is an anonymous message board and NO ONE SHOULD DECIDE TO BUY OR SELL based on what is read in here ONLY.
VLXC is a SPECULATION and, unless you realy KNOW you should only put money into it understanding the risk.
That's what I did (trading somewhat along the way) and still do beleiving the reward may endup having been worth the risk.
Let's be honest.
I heard something that may or not be accurate (but I know there is thruth to it).
If I beleive what I heard it would be real stupid to mention it NOW.
If I do not, then why mention it.
Bottom line however, whatever I refer to will not change whatever the fundamentals of the company are.
Finally, it may be a reason for the AF not to have yet been released but from what I heard (different source), this is not THE reason explaining the delay (I do not mind speculating on other possible reasons but that's all I can do ... as most in here).
Let's see what next month brings to us (I already hear the negatives picking on this last sentence ... LOL!)
Let the week go by.
I suggest this topic should stay dead till next (let's say) monday.
Interesting ... We do not know each other but I think we heard the same thing (see my post, #13623) ???
You may be showing the tail of the cat right now. Let's wait few more days so no troubles are created.
Posted by: pual
In reply to: omegaman5x5 who wrote msg# 13615
Date:6/15/2007 8:54:04 AM
...
There effectively is a reason for this behavior. Let's wait till the cat comes out of the bag.
Must be nice to KNOW!
I assume you sold short ??? (LOL)
UP TO THERE WE AGREE: 'To me this CEO, Matin, could care less about his stockholders. Never has.'
I however beleive that for reasons other than altruistic considerations he recently (3 months) figured out that time has come to START doing the right thing.
From what I hear however he doesn't seem do do it gracefully but under pressure, he seems to be slowly (to slowly for those pushing him) heading in the right direction.
Having slack in my speculating portfolio I decided to bet a little more (6,000 at $0.30).
The wheel is still spinning !!!
'Pual thinks that this is a 'new and improved Matin''
I stand to be corrected but I do not think I used these words.
What I said however is that from the info I got from sources (FWIW) Matin has been forced into changing his way of managing this business and serious investors (as you know I did not invest but speculated in VLXC) have decided to get him to say it as it is and say it as it should be (credible AF whatever these say).
Those people know enough to beleive this operation to be worth more than current Market cap and they want it to be managed normally.
I also found out that Matin would be close to getting some interesting business and this would help better accepting whatever the AF will say, particularly numbers as of last YE we shall not like. People pressurizing Matin however want the other party involved (apparently a client bringning credibility) to be identified and quoted in the PR announcing this new agreement.
Matin is still the old (incompetent) business manager we knew all along. The difference (opinion more than fact) is that he now has people forcing him into doing the right thing. Till then, he is forced to just shut up (when is the last time Matin had nothing to release for 4 months?).
All of that being said, the ongoing collapse of the PPS does bother me somewhat !!!
Not loosing any sleep over it anyhow.
Let's see if I can get cheap shares within the next few days ?
I do not often agree with you (doesn't mean I am right and you are wrong) but the following question is ... T H E ... question:
'What have the auditors uncovered which is preventing them from releasing the final numbers?'
This question will have to be answered clearly before AF is signedup by lawyers and released.
My view is that answer there will be, whatever it is.
I appreciate that, this time (new), Matin doesn't release a ridicule set of AF and doesn't try to cover up by releasing stupid meaningless NR's such as the number of 'CUSTOMERS' recruited during a tradeshow.
Something different is going on behind the scene. Let's see what it will have been!
O.K. let me play the game also.
Another toy of mine (I now own millions of FREE shares) is ADVC. I suggest that it it a real good SPECULATION to play with if tou have few $$$ you can afford to let go.
By the way, Bombardier (BBD.B in Toronto) has been real good to me. Bought thousands in Nov and Dec 2004 ($2.00 to $2.40) and sold all tuesday this week at $6.95.
That's how I increase my speculative portfolio (5% of overall assets in my Canaccord account).
Love this game ...
I did explain multiple time that this is a high risk speclation, the market cap is relatively low and there is a real business behind this small toy.
I have traded in the past getting my cost relatively low and expect to see the end of it, leaving my bet on the table till I win enough or loose it all.
Finally, I do not beleive this to realy be a scam (but what do I know?) but it's obviously something that has been very poorly managed by an incompetent business manager. My bet is that he will some day understand that, look for advice from competent people, listen to them then do the right thing.
If not ... so what I had my money worth of fun anyhow.
Did I mention a SEC involvment?
If so. Sorry. I agree that SEC cannot care less about such small operations.
Oh yes. Matin's friend?
Never met him, wrote to him for a qwhile but he stopped answering my e-mails following some critics I made. He ended up telling me to sell my stocks if I wasn't happy.
As for having been around for years, I like this toy and enjoy this board, working from my house on my PC (switching to the board is a nice way to have fun and work at thye same time.
Right. English is a second language.
As for the rest ... let's forget it.
I think that if you're mad you should speack it out and say it as you see it.
LOL!
I suspect that time has come for him to make his coming out (time has gone by and business probably now justifies current market cap or more).
I am sure the packaging of the coming out will be made acceptable by the auditor and Matin's lawyer so the market will rapidly put the past aside a look ahead (Some will shout a little but no one will take action ... assuming a case could realy be taken to justice ???).
As an example (just my imagination) the BD issue: He probably owned it initially, he mortgaged it when the transport disaster came, he tried to buy it back using share in 2004 (but pulled out) he recently found funds to buy back what he had somewhat lost (could explain debt refered to by some) and now we own it all. Whatever did happen if that is current picture, who could complain?
I do not know how long we will be stuck but I beleive that very few weeks only (if not days) before we got significant news out of the company (note I didn't say Matin but the company).
Whoever that is, he doesn't give up ...
9:30:32 AM Trade 0.0006 50000 ($ 30)
I think you makeup FACTS and then beleive it.
What I saw for the last 3 weeks is that, NOTWITHSTANDING THE NON RELEASE OF PROMISSED AF, the volume has been very small (except MAYBE 6/14/07: high 0.38, Low 0.36, volume) 103,976
and the PPS relatively stable ($0.325 - $0.37) almost 90% of the trades having been at $0.37 and $0.36.
Your effort to convince some that some kind of sellout is in the works can only mean one of 2 things:
- You have no clue what you talk about or
- You want for reasons of yours scare soft shareholders into selling (trying to accumulate).
Yesterday's filing.
I may take my dream for reality but I suggest that recent revision of financials and presumed negociations in view of an acquisition are related.
The bottom line of the restating process is the following:
- Total stockholders’ equity, as previously reported: $ 2,135,142
- Adjustment to reclassify preferred stock: (3,420,200 )
- Total stockholders’ (deficiency), as restated: $ (1,285,058 )
Negociating for financing and/or in view of merging companies does require financials agreed upon by all parties including those who shall offer funding).
I suggest that the shown change to past financials came as a result of the discussions the company has had for months, trying to establish a financial scheme allowing them to make some or one acquisition(s).
If so, it is my view that, now that restated has been completed and filed, we may soon (weeks) hear about the result of the efforts behind the following statement made in the NR of May 23 2007 : 'Advanced Communications to Restate Historical Financial Statements with Reclassified Preferred Stock and Reaffirms Active Acquisition Negotiations':
'Wayne Danson, President and CEO of Advanced Communications said, "For a number of reasons more time has been required to implement our plan. In order to facilitate the process, Advanced Communications now intends on completing the acquisition of one company initially, rather than close multiple acquisitions contemporaneously. The company to be acquired has revenues and earnings substantially greater than the Company's. The new, more substantial platform will facilitate future follow on acquisitions. The management team remains committed to this expansion strategy."'
I Know what GE trades for. But remember why I posted this funny, unrealistic analysis to start with. It was to follow thru on a discussion between Paint ball and Mushroomman debating debts of the companies.
I effectively createad an 'imagined Veltex' 10,000 times smaller than GE.
I thereby effectively said (as per this morning numbers):
- the current capitalization of GE is $ 399,079,278,000
- assuming Veltex to have the same financial structure GE has but making it 1,000 smaller (assets, debts, EPS, multiplier and market cap all divided by 1,000) its market cap would be $ 399,079,278.
- taking this relative numbers and assuming 25,000,000 Veltex O/S (I know, I did not use GE's O/S divided by 1,000), PPS would be (399,079,278 / 25,000,000) $ $15.96.
This was just for fun and all I did was to play the game some do play in here (Paintball in this case) playing with unknown as if they were FACTS (generally written in capital letters).
LOL!
You can have your opinion and even present it as fact if you want so but an outright lie called a FACT ??
'on an average trading day someone buys vlxc 30 minutes before the close to give it a boost FACT'
Current financials are as good (some will say as bad) as one should have expected right now.
Current capitalization of $ 4,000,000 or so is all one should expect considering current financial, including an accumulated deficit of $ 33,685,393.
However, growth thru acquisition is a realy interesting strategy and that where the potential of that SPECULATION lies.
Let's see if it can be done.
I personally think so and I suspect that current financials restating efforts are related to current negociations aiming at concluding such a strategy.
Let's see what management will have to say when restated financials are available (presumably within the next few days).
Your opinion is as good as mine but I think Veltex currently has:
- Around 25,000,000 O/S
- A not yet profitable but interesting revenue generating operation
- Currently having a market value of at least current capitalization or $9,000,000, probably even more.
However for those who will evaluate the upcoming AF starting from 20,000,000 O/S, $70,000,000 sales and $0,25 $0.35 EPS viewpoint (that would mean PPS of more or less $2.50 and market value of more or less $60,000,000), I have no doubt they will fall quite hard from the cloud they actually sit on.
'Just a case in point. I know Veltex is no GE.'
I would be real happy if Veltex ended up being 1/1,000 of what GE is:
- Assets: $ 69,728,900,
- Long term debt of over $ 26,000,000
By the way, base on current market value of GE, $ 406,692,546,000, that could mean a Veltex market value of $ 40,669,254. Assuming 25,000,000 O/S that would give a PPS of $ 1.63.
I could live with that for a while!
LOL!
Some wonder if Matin is close to change and open the books for real?
My view is that, as often mentionned, most likely as a fallout of the transport desaster, Matin did something foolish, immoral or even illegal and got himself in a position forbidding himself to be transparent. I put that under the heading: 'incompetence as a business manager'.
Since then, he lied and/or hided the thruth (not realy having a choice) but he kept building a distribution business and trying to somewhat repair his error (???). I put that under the heading: 'competent operations manager in his industry'.
Time having gone by (almost 3 years) and the business becomming worth at least current capitalization, may be even more, under the pressure of some advisors and large shareholders, I beleive Matin finally can afford to let go and open the books, now having a worthwhile business to show.
That's why I beleive that He recently decided to listen those trying to help, start doing things normally and forget about a commitment he made before he did figure that out (before last CC).
My beleif is that within days, weeks at most, we will find out a lot about what we have been asking for for years and thereby have a valid base to look forward.
Current silence, stable PPS and low volume notwithstanding missed target date and some of the messages herein make me beleive that way ... but I still do not know ... unfortunately ... how great or not current PPS is (I am prepared to bet $0.33 but not more).
Interesting ...
You first make an unsupported statement: 'it is starting to look like dilution and lack of money'.
Thereafter, based on this you proceed to write: 'If there is a lack of money how can they do the AF?'
Notwithstanding everything that has been written in here over the last many months, one has to admit that we only can speculate, the company having been totally silent for more than 3 months (Mar 9 2007 : Veltex Corp. Signs Chinese Contracts For Textile Mall).
This is another unusual behavior for Matin and I suggest (but obviously do not know) that this could be an indication of something different going on behind doors.
I would not be surprised if before the end of the mont we get even more than seriously audited financials.
I do not know if you're right relative to the detailled scheme you describe but I have no doudt you're right observing 'huge accumulation'.
I somehow fell my bid (5,000 at $0.33) will not get filled but I am not prepared tom go higher already having as many shares I realy want.
Good luck!
To be honest I prefer not to hear something than to be lied to ... volontarely or as athe result of incompetency and lack of understanding of what you talk about.
Personally, I do not think Matin did lie, he just didn't understand what his commitments realy meant.
I beleive he still learned somewhat.
I realy wonder why someone wants to keep the PPS as low as he can.
Probably trying to suck in cheap shares from soft hands ???
9:30:16 AM Trade 0.0007 66650
9:30:04 AM Trade 0.0007 1000 (- 0.0001)
I beleive (but do not know) that effectively, last February, Matin held another of his normal BS communication, still not understanding what running a publicly held company meant.
I also beleive that, soon after the conference call, some people decided to get involved telling him (not suggesting) what had to be done and telling him they couldn't care less if it took 2, 3, 5 or 6 months. The question then became what, not when.
Whenever the AF are issued (I beleive they will and probably soon) they shall therefore be more informative (good, neutral and bad news incuded) and credible.
At least that's what I beleive.