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PPS on the 29th, 30th or 31st will be whatever is justified by the QUALITY (credibility) and the content of the released audit.
I however, based on past experience (but sincerely hoping to be wrong), have very low expectations.
The fundamental questions I have are:
- What has Matin been hiding from us for years?
- Why would he now accept to let the thruth out?
Whatever the case, in more or less 10 trading days, we should be fixed.
I wonder why someone like to have the PPS shown down each mornig?
9:30:00 AM Trade Price: $0.0007, volume: 1000 Shares, Change: -0.0001 (12.50)
Surprising.
I wonder what can be deducted from that. Why would the accountant be late this time. Reports were file in time the 2 prevous times?
Wonder?
'One of the problems is the plant in BD. Steve had mentioned during the teleconference they were thinking about giving out separate stock for that operation. I personally don't see what that would do for stockholders.'
If BD financials cannot be reported here credibly, for whatever reason, then having 2 legal entities (BD and NA) and 2 sets of shares could be better than what we have gone thru for years.
Let's look at it.
Assuming 25,000,000 O/S let's say that for every O/S the company issues 2 shares (one for the BD operation and 1 for the NA operation.
What should the NA business look like (reporting normally to SEC) for our shares to be worth let's say $1.00 (based on fundamentals)?
Assuming a multiplier of 10, the NA company should generate an annual profit of $2,500,000. This is obviously not yet the case but at least, we could know what we own, where we stand, where we try7 to go and we quaterly be able to see credibly the progress made or not.
Ho! By the way, may be the other shares (BD) would be worth something also?
'When the Buyback was first announced, logic would tell us that this stock was gonna fly. It didn't happen though. Then came the unaudited Financial Statements touting Revenues of $70 Million. But the stock continued to slump downward. And then news of the New Distributor in China. And, as we all know, the stock continued to go down. Why?'
ONLY ONE REASON: MATIN's CREDIBILITY.
Nice to hear that audit is on track. I hope Matin understands what we will do when he does release it:
- Obviously we will look at numbers
- As important we will try to evaluate the credibility of the document (WHO DID IT, WHAT DISCLAIMERS ARE INCLUDED, WHAT ABOUT OWNERSHIPS, IS IT SUBMITTED TO SEC, ...).
Hope the NR answers most of these questions.
I know, it was more or less a dayly average of 150,000 shares during that period (PPS was between 35 and 15 cents).
In any case, not knowing what's realy behind our shares (ownership) and how many shares are out there, all we know is how many shares we each own. That and saying we know nothing is the same.
'Nobody is dumping shares this week'
As a matter of fact, on average over the last month (21 trading days), the dayly average number of shares reported as traded is less than 40,000 (less than $8,000/day).
One can hardly claim that dumping is going on (same goes for the buyback claim)
Haven't spoken to any of them recently (In any case, Matin did stop answering me after he politely told me to sell my shares and go away).
Audited financials are still supposed to be out on time (i.e. end of May) but as I said earlier, I wait to see if they will be credible or not.
China? Honestly this is the least of my concern as of now. It's one asset added to totally unknown base giving as a total a totally unknown plus another unknown. Let's first start to figure out what is the NA business, what is the BD business, who owns what and how many O/S are out there. Then China may have some interest but till then ???
If first Q are release, it obviously will not be audited, it will be a company (READ Matin) NR and it will have the credibility of its source.
Let's see the promissed audit. That's realy all I care about short term.
(Selfisly probably) I wish you the best of luck!
With 11,550 shares still owned, I am only a very small shareholder in Veltex (remember I limit my speculations, including Veltex, to 5% or less of my overall portfolio).
The large shareholders I do refer to do own between 1 an 2 million shares each as per the informations I have. To my knowledge, one of them (2,000,000 shares) is a lawyer.
I also heard that a lawyer working for Matin has reported to a friend of his that Matin was keeping him pretty busy. Let's hope it's related to developping a strategy which could help Matin pull out of the trap he got himself in (Lie about BD ownership).
Pre the last market crash (1999 beleive it or not), looking for speculations of interest (at the time, playing the market was a continuous winning game), thru my own DD I found Veltex and tought it was offering good long term potential and was a good fit for my speculative portfolio (5% of my overall one).
Since I did average down thru few sell and many buy tradeFor a laugh, based on current shares my first ones did cost me $43 (each not in total !!!). My current cost is currently under $1.00 but higher than current PPS.
As for the audit, I heard (large shareholders are getting closer to pressurize Matin somewhat) that it effectively is in the works and Matin still seems to be committed to release it in time. However as often expressed (does Matin now understand that ???), the question is not if an audit will be out or not. The question is, if audit there will be, how informative, complete, credible and reliable will it be? Based on past experience, one knows that Matin didn't have a clue what such a serious audit was all about (or if he did, he could not afford to put one out).
The picture I have (bits and pieces collected from multiple different sources) is that Veltex does exist, the NA business is (was?) growing but still not profitable, the BD ownership question is still the object of a well kept secret and the number of O/S is hidden from anyone by Matin (my suspicion, based on gutts feelings, is that Matin may not anymore have the control (50% + 1) he claims he has?).
Whatever the situation, I beleive that we should be better inform before the end of the summer since a bunch of large shareholders are finally getting ready to confront Matin (and it doesn't seem to be to take the type of actions we read about on this board and the other one during the past years).
Let's first see :
- if acquisition there will be?
- How significant it will be?
- How it will have been financed?
- What the financial profile (fundamentals) of the resulting company will be.
Then Listing could be discussed (Unless ADVC is the acquired part and it's acquired by an already listed company ???)
For the moment (short of finding out the status of the acquisition project) I would like to see how the current ADVC is doing (see previous post).
Does the current company have a current market value of $ 4,000,000 or what? (5,000,000,000 shares at $0.0008)
When will we see financials for the quarter ended 3/31/2007. I think the rule gives the company 60 days to do so.
- The 10QSB for the period ended 9/30/2006 was filed on 11/14/2006 (45 days)
- The 10QSB for the period ended 12/31/2006 was filed on 2/12/2007 (43 days)
When will the 10QSB for the period ended 3/31/2007 be filed? Based on the above, 45 days means 5/15/2007 ... that's tomorrow but 60 days would get us to 5/30/2007)
Finally, if acquisitions are still being worked on (the last I heard it still was), could this be a reason to delay the filing?
Finally, one has to remember that the 10QSB for the period ended 6/30/2006 was only filed on 10/12/2006.
Either the audit is verifyable, credible and reflect numbers suggested by Matin and then PPS is becomes much more than $1.00 (Do not hold your breath)
or
It's another fabrication by Matin using an anonymous presumed or unknown presumed auditor and then current PPS may be even on the high side.
CREDIBILITY is THE issue and Matin, assuming he cares, should now understand that (assuming he can afford to ???).
All I want to understand short term is: WHAT IS THE NORTH AMERICAN OPERATION ALL ABOUT?
Longer term I hope we get the means to figure out credibly what % of BD we own or not and how it can be reflected in an acceptable way in U.S..
What I would like to know is what is 'short term' meaning and how long will 'Long term' be?
Many, Many more weekends before we find out (my beleif). At least have a nice one (weekend) starting now.
I always did try to be realistic, I beleive there is such a thing as a Veltex company but also beleive that for as long as it will remain the Matin's only toy, we never will be able to figure out what we realy own.
As a small shareholder, there is not much I can do to help with my 'speculation' but I hear some much larger shareholders are gangning up to meet with Matin and try to get their 'Investment' better managed ???
I beleive 2007 will be a turning point ... for the best (60%) or for the worst (40%).
FWIW!
Wasn't missing you !
After 7 years (owning shares in my case) I think I know and give educated opinions.
Matin's credibility is totally non existant and till we get OFFICIAL INFORMATION produced by a credible informed source, this will go no where.
If you think this is bashing, it's fine with me (not that I realy care of what you think) I personally suggest this to be an opinion based on fact.
Given the right context (one can always hope with speculations) I would be more than happy to change my mind.
Someone wants the PPS as low as possible ... for whatever reason ...
10:16:42 AM Trade 0.0007...5500 (.$3.85)
09:30:20 AM Trade 0.0008..15000 ($12.00)
09:30:14 AM Trade 0.0009..15000 ($13.50)
3 trade worth, cumulatively $29.35 ??? He (they) obviously do not pay much of a commission to execute an order to buy and/or sell.
Unfortunately, I am to far but in any case, I suspect a visitor would see that the company behaves O.K.
I beleive there is a Veltex, it's doing business, the NA operation is growing but not yet profitable and we do not know how big it is or not (Whatever it will be worth, I hope the audit will separate clearly NA and BD financials).
My beleif is Matin is stuck with a BIG LIE relative to BD, he cannot divulge it (jail risk) and that's what blocks any positive development.
May be Matin should divide the company in two legal entities, NA and BD, then normalize the NA company and gradually resolve the BD ISSUE.
The followings are sincere answers (not obnoxious) and if you have been around for some time, you will agree.
1- Audit within 2 weeks: 75% probability (I beleive it's in the works)
2- Where the stock will go? Nowhere (except for a little spike of few hours) since I expect the audit to not be credible (more than usual disclaimed by auditor, auditor not being known in the market, non reported to SEC financials, ...)
3- Impact of a positive press release? Nil considering the source (Matin) has no credibility whatsoever with the shareholders and even the market he does address.
Matin IS THE PROBLEM and for as long as he is THE SOURCE, any information we will get from him will be totally useless. This is a fact and it's been fully demonstrated in the past, during the last year in particular (Notwithstanding all the 'Great news ???' Matin did release over the last 12 months, the PPS went from $0.80 to under $0.20 over that time).
Given the opportunity, you have my vote.
You are right, one should not INVEST in this company considering fundamentals (see my previous post). In particular, accumulated deficits are a boat anchor which could sink the boat altogether.
However, if one has money he can afford to loose without pain, this is a good bet (or speculation) considering it is a real business with customers generating revenues, total capitalization is only $4,000,000 and there is effectively efforts going on to grow the business thru acquisitions (financing is a complex scheme to put in place).
Therefore, low downside risk (business worth something) and large upside potential thru either speculatorsm MM's manipulating the stock or the business becoming profitable and growing.
This being said, once more, not a place to INVEST right now.
Normally we should see the last quarter results this week or early next week. Here is where we start from:
For The Six Months Ended December 31,2006 (2005)
NET SALES: $4,159,370 ($4,491,124)
COST OF SALES: $2,719,830 ($2,941,648)
GROSS PROFIT: $1,439,540 ($1,549,476)
GROSS PROFIT %: 53% (53%)
NET LOSS: $296,341 ($649,654)
Would be nice if the quarter was to not show a loss.
May be the management will profit of the occasion to update us on what they are or not currently trying to do ???
Thanks. I heard about this effort and realy hope it succeeds ... with good or bad outcome in term of what we shall find.
Somehow I get the feeling that the waiting is getting closer to an end. After 7 years, it's about time.
On the other hand ...
Let's hope it's sooner than later but in my case, after 7 years, sooner would still be later ... LOL!
Again, audit they most likely will be however, as usual, it will generate more questions than answers.
I therefore suggest you may not have to soon join the "pumping club".
This being said, one of these days or months or years, Matin will have to either de4clare bancrupcy and face possible (???) jail time or he will have to get the real story out thru credible means and/or people (then may be run a risk, admittedly smaller, to face jail ... unles he migrates to BD to join his partners and familly out there).
'I think the audit is going to happen! And I think we'll see it on time if not sooner'
Most likely.
'We'll be lifting off before the end of May.'
That remains to be seen and if so, it will be a short ride up there (OMHO).
Steve Macklem would not be the first one being sucked in by Matin, hoping to make a lot to later figure out that something wrong is going on with this outfit then leave.
If I was Steve, I would go directly to THE ISSUE (what about the BD situation (ownership, legal status, ...) and have Matin pay me a trip out there to see the local operation and management and meet with few government officials to discuss their view relative to this local company.
Seeing, touching, feeling and listenning could cost more or less $5,000. If Matin cannot afford to pay me this trip, why should I invest time and effort in return to options into something I cannot define?
I personally do not expect the audit not to be issued before the end of the month. My concern is more related to the value of whatever audit we will get?
How will we know that whatever the audit says is or not reflecting reality?
Anne Tahim (a reputed firm) once issued an audit (disclaiming it to the point it became a letter from Matin and his friends) and we then endedup with zillion more questions and an auditor who left feeling she had been manipulated.
Audit there most likely will be in the next few weeks. How better will we (the informed market) thereafter?
If good financials are showned will we use whatever spike of the PPS there will be to escape or will it be just credible enough to make one hesitate (the spike may very well be short lived and quick reaction ... one way or the other ... will be required.
To those who did ask me (private messages), I still did not get anything relative to Mushroomman and, based on his last message I do not expect to get anything in the future.
This being said, I do not realy care who he is (or about the identity of anyone else in here) since in any case, this is an anonymous message board (normal prudence is required) and whatever is read or witten here is fun and interesting but should be taken with a grain of salt ...
The only real question having no answer (and I do not expect it from this board) is:
What is Veltex (what we realy own) all about and will Matin in whatever future endup opening up and outlining the thruth once and for all?
There are not 2 ways to do that but 1: Credibal verifyable reported audited financials.
I do not expect that to be (at least in a foreseeable future) regarding BD but may be (just maybe) Matin will endup clarifying (in a credible way) what the NA business is all about.
The only way he can do that is most likely to legally separate the BD and NA operations (whatever way he decides to do it) and normally report about the NA company (US + Canada).
If an audit was in the works (???) just issuing it in a NR from the company would not do much good for us since, unless done in a normal way (SEC), any information coming from Matin is non credible anyhow.
My beleif (once more) is that there is a business being built in NA but I do not have a clue how far this startup type of busines now is (revenues, profit/losses, balance sheet, ...).
My other beleif is that for unexplained reasons, the BD operation is something that MATIN CANNOT discuss formally. There is out there something very wrong and if divluged, it could get Matin in jail in USA and maybe others in BD.
This is based on observing this speculation of mine for over 7 years and it should therefore be taken FWIW (not even considering that it's being written on an anonymous message board).
To: mushroomman
4 times already, some people contacted me (private messages) asking if I knew who you were.
Would be nice if, for the good of many herein, you were kind enough to identify yourself and outline your relationship with Matin and the company, since it's obvious to all that you have access to Matin at will.
Thanks beforehand,
Preserving the identity of the writer, here is the last request I got:
'... By the way, how much do you know of Mushroomman? If you are unable to reply here (private message), please feel free to email me at ...
I doubt he will realy care (I know he will read it) but, openning up volontarely would be better to all of us shareholders (him included) than a legal confrontation leading to undesirable legal consequences. Most of us think there is nothing more to loose and that, Matin should understand before it's to late.
We all know he did hide something and time has come for him to do a coming out ...
To Mr Matin,
I suggest you start to seriously listen to your advisors (those you haven't yet discouraged) before you get in serious trouble.
I do not know (but have my own beleif) what you've been hiding to all those who came to help (V.Duff, Anne Tahim, E & E communications, ...) but I suggest time has come for you to get the real story out (controlling the damages) before legal actions by many of us do force you to divulge it.
You escaped your responsibilities as the head of a PUBLICLY OWNED COMPANY (assuming you understand what that mean) but patience is rapidly running out with many of us (many small shareholders, few bigger ones, but large one as a group.
Time has come from what I can see ... Do listen to your advisors and stop the BS (unsupportable financials, funny audits, ...).
One of your oldest shareholder.
The least one can beleive is that, short of being a crook (I do not think he realy is) Matin is an incompetent optimist taking his dream for reality and not understanding (or accepting) that this is not only his company.
I suspect however that he will soon get a wakeup call from large shareholders that were sucked in by more than PR's.
Some people met Matin personally and did beleive him enough to get quite involved (large number of shares). They, one of these days (sooner than later), will become pissed enough at Matin and current PPS to force him to see reality and behave as a someone operating a PUBLICLY OWN company.
Thank. Read you after I posted.
I however must say that I am not realy 'frustrated' even if I sometime think the company should inform us somewhat more about what they try to do, and why they are not yet able to tell the market if the desired acquisitions will or not be completed.
My understanding is that they greatly underestimated the financing problem to resolve if the acquisitions they mentionned were to be completed, they hit a wall trying to arrange such a financing and they try to get around the wall trying to finalize a deal.
Tough? Yes
Dead issue: No
Probable: Not realy
Still Possible: Yes
Would failure render our speculative ownership become a total loss? probably not.
What I would like right now is for the management (I trust) to come out with a release updating us appropriately taking into consideration whatever it is make them beleive that they should not.
They should do it in a way which would neighter promote nor downplay the stock. Just say that they still work but success is anything but as they expected it to be when they releases a NR months ago.
You either misunderstood my points or you are somewhat oversensitive.
1- Yes I hold a small position (6,500,000 shares)
2- My net total cost is close to nothing (would have been negative if I had sold 1,000,000 at 0.0012 two days ago.
3- I stay in (this speculation) because I do not have much of a downside (considering my cost) and (considering current PPS) I can afford the risk of loosing that (this is one of my 4 speculative stocks or toys).
4- MM's and or traders (I didn't mean the company) could manipulate the stock as they did last year thereby offering the opportunity to cash in a quick profit and I keep watching just in case.
5- I am being told that the alluded to acquisitions are still possible and that would obviously be another great profit generator if it was to work.
6- The whole think does however present a risk and if one doesn't understand that he should not be in.
Being realist is, in my mind, not that bad if you want to speculate. I like the company, I consider them ambitious, they came out of big troubles in the past and they look forward to grow the company rapidly thru acquisitions. That's great but success is anything but guarantied.
You shouldn't wary ... I hang around here for fun and to share and exchanges opinions with others. I do not see why else someone would be here anyhow unless one beleives that posting on message boards could influence the PPS somewhat ???
Bottom line, I trust the company tries honestly to succeed (they own more shares than we do). You can call me naive but your way wrong thinking I hit myself on the head or eat where I crap ... Try to better understand what I write.
Unless some king of manipulation of the pps is enginneered by MM's or news as the one read 2 days ago are released again, one cannot expect much out of this stock.
The only way this will become a real good stock (other than trading on short term spike of the PPS as recently seen) will be if the company succeeds in the ongoing effort to acquire a (some) company(ies). Then and only then will we see real PPS spike from which current shareholders may make a lot. (probability 33% in my view).
On the otherhand, if current efforts do fail, current PPS may be justified (ADVC's business may be worth 4 or 5 millions to someone). (Probability 50% in my view)
However, the accumulated losses ($32,000,000 +) could make us loose it all (probability 17% in my view)
Therefore, this remains a HIGHLY SPECULATIVE STOCK and one should be careful before buying it (No buy with money you cannot afford to loose).
I wonder how much longer our management will let us in the dark?
Effectively I wonder how long it will take them to finalize a deal or release that the deals they refferred to earlier will not happen?
GLTA!
If our views are similar they however come from different experiences. I personally didn't have any contact (e-mail) with Matin since at least 18 months (recollection). Matin then did not like my questions and suggestions and ended up telling me to sell my stocks ???
I however know that 2 and 3 years ago, Matin was looking for funds (to finance his growth plans) and thereby created large shareholders who did beleive of his intent to normalize the company. Matin then kept beleiving that he would be able to resolve the BD issue (fallout of his transport adventure) and do as expected (normalize) by these 'friends'.
Matin therefore now has some very large shareholders who are getting pissed and pressure will soon force him to open up, outline the situation as it is and listen to advisors (not in his culture). Alternatively, the sharehlders may become mad and involve authorities into looking at him seriously (different than having afew posters on message boards that they wrote to SEC, ...).
Then, unless the situation is worst than I beleive it to be, we soon (months however) should have a showdown between those who have the biggest stake in here. Otherwise, we will find out that bancrupcy is the only way out and we will see that the VLXC we own wasn't worth much, BD not being owned by us after all.
I however beleive that the real value of OUR VLXC is more than current capitalization, whatever is left in BD that we own can be sold and the remaining NA operation can be restructured so that long term, current shareholders will be saved and have a future.
I am much to smal a shareholder to have any weight in the situation by I beleive some have much bigger stakes in VLXC and they sooner than later will squeeze Matin in a corner and get him to sh.t or get off the pot.
I wonder if Matin still has control of the company with or without other investors? Whatever the case, Matin may have to soon choose between openning up or getting to court (then, maybe, to jail ???)
Sorry for you (and I). Honestly I tought this had been a total loss a long time ago but these do reinforce my thinking that this is game over.
Best luck to all playing with some other stocks. A good SPECULATIVE STOCK right now seems to be ADVC. Do your own DD.
I do not hold my breath but assume we should get some news (bad or good) relatively soon. Yesterday's silence of the company may suggest (???) that they did prefer to stay silent till they can follow-up on their previous release (acquisition), particularly if an outcome was to soon become known.
Whatever the case, predicting when they will come out with a significant release is just impossible.
Last time we saw larger volumes than today was:
(date, open, high, low, close, volume)
7/21/06 0.0016 0.0016 0.0011 0.0013 274,761,882
7/20/06 0.0012 0.0018 0.0011 0.0014 620,528,929
Would take more than today's type of news to repeat that ... unless someone does enginneer some kind of spike of the PPS based on rumors or other manipulations ???