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With such an intelligent set of posts on your part, I cannot even try to get down to your level. May be after all we finally found out the infamous flying pig...
"wtf does that crap have to do with his crappy scam?....does your brain even work or is it just there to keep your ears separated?....."
Seems you were talking to yourself in front of a mirror. If not, you should have!
To my knowledge, notwithstanding all the possible complaints made all over the place by dozen of people, Matin never was bothered by any regulator.
No doubt in my mind he at least made some wrong decisions in the past and he was stupid enough not to divulge them as he should have.
This being said, I somehow doubt that he is an outright crook as some do.
We shall see one of these days!
"Ken Lay comes to mind......"
Wasn't one of Ken Lay's good freind receiving money Mr Bush ???
For those not familiar with the history of the company, let me explain my previous note re: Brunetti and Duff.
I do it by quoting abstract from a business plan presented by Matin almost 4 years ago:
"Management Team
Veltex Corporation's consists of a high caliber management team and a well-trained technical personnel.
It's manufacturing facilities are managed by former US textile industry executives with more than 30
years of experience.
Javeed Matin, Chairman and CEO
G.S. Gill, Secretary/Treasurer
Victoria Duff, Corporate Advisor"
Victoria Duff left Matin and Veltex after as many others, she found out that Matin wasn't listenning to her advices.
"Veltex Corporation Signs
Strategic Investment Deal With
GoVacations
Los Angeles, CA, Nov. 14, 2002
...
Roger Brunetti, Founder and CEO of GoVacations,
remarked,..."
This relationship, to the best of my recollection, ended when the ehole synergy plan failled (transport desaster).
It suggests that, as I tought all along and still tend to do that Matin may be incompetent and may have hidden some significant events in the past but (as told by many sources) he probably is not running a scam.
This being said, I still do not know what Veltex is all about and how profitable or not it is.
Another point: I look at who else is on the board ...
How small the world is ... See the name of some other directors on this board:
Director and Executive Vice President
Victoria Duff
Chief Executive Officer
aBusinessPlan.com
Victoria@babycancer.com
Director
Roger Brunetti
CEO
GoVacationsGolf
Roger@babycancer.com
Some other names also suggest that Matin (whatever the views of us in here, good or bad) is somewhat acceptable by the organisation itself and some other board members representing large corporation very corporate image consciensious such as
Boeing Corporation, Walmart, California National Bank.
No use to see, what you say is right.
This being said, the fact is that, notwithstanding he had some good communications with Matin (I also wrote him, his PR firms and "auditors" multiple time and got answers from them all), he pulled out AS SOON AS he formalized a relationship with the company.
Knowing you and your aim of disparaging anyone who tries to be neutral (should be easy since we do not realy know how great or not this speculation will turn out to be), I know you will put your "I know better than all" hat on and keep affirming things you do not know about quoting them as fact.
By the way, I do not work for Matin. As a matter of fact he stopped answering my messages (may be he did not like what I had to tell him?)
"Where's shrotker's disclosure of the amount of consideration???"
Since he posted BEFORE he got any consideration and divulged getting some stopped posting as soon as he got some Shrotker's didn't have anything to disclose ... he didn't even have to say anything and he could just have stopped posting silently.
Another of your stupid trial to make your point!
Read this before evaluating "Rawnut's contribution to this board ...
1 - http://www.investorshub.com/boards/read_msg.asp?message_id=5349922 ... demonstrates that Veltex does exist and management doesn't spoil money in furnishing the lobby of a wharehouse just to "look good" ... may be.
2 - http://www.investorshub.com/boards/read_msg.asp?message_id=6050313 ... Tells me that some posters are honest enough to divulge their status and to act with ethics.
3 - http://www.investorshub.com/boards/read_msg.asp?message_id=12046860 ... "I was able to work out a deal between Veltex and a distributor" ... same comment ... and it's nice to see a shareholder gets involved in supporting the company he is invested in.
4 - http://www.investorshub.com/boards/read_msg.asp?message_id=6050956 ... FOR YEAR posters like you claimed that SEC was looking at Veltex. For years those claiming to know this to be a scam claimed they wrote to SEC and all other possible regulating organisations and Veltex never was halted and still keep going. Posting this reference reflect your bias, nothing less , nothing more.
5 -
By the way:
Veltex Corporation Attends Two Trade Shows in July
CITY OF INDUSTRY, Calif., Aug 16, 2006 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (OTC: VLXC) is pleased to announce the successful attending of two trade shows during the month of July.
Veltex Corporation appeared at The Chicago ASI Show that was held on July 12-13. The company scanned in over 300 potential customers in two days, and received a favorable response from attendees stopping by our booth, whom were given Veltex sample baseball caps.
On July 20-22, Veltex Corporation attended The Long Beach Printware show, which was held at the Long Beach Convention Center, in California. Marco Alcala, Sales Manager of Veltex Corporation stated: "Since our Corporate Headquarters is near Long Beach, we gained an advantage with many local customers that like the fact that we are very close to them. We were able to scan in almost 500 potential customers in the 3 day span."
Javeed Matin, CEO of Veltex Corporation, added, "Attending these trade shows allow us the opportunity to meet new potential customers, and let the public know what Veltex has to offer. We look forward to hearing from the attendees that we had a chance to meet."
Surprising us is certainly not something Matin looses sleep over. However, one of these days (if anything of we read in the past is true) some large shareholders having accepted payments in shares for assets or services will endup pressurizing him into behaving.
These "close ones" shall endup wanting to see shares valued at a somewhat higher than a $0.40 PPS and get Matin to s.it or get off the pot (sell)
Do not take me wrong, I do not beleive at all that a credible audit is in the works.
My point was that may be (what a surprise it would be) Matin could use the releasing af a quaterly financial report to issue a long overdue (what an understatement!) set of audited annual financials (one year would be great ... if credible).
As for sucking in new shareholders thru PR's sounding as NR's, I suspect Matin has sucked in most of them already and very few new ones still exist.
Unless (what a surprise it would be) he means that auditors are contributing to " the process of preparing financials for the second quarter of 2006." and that is what's behind the "We" in: "We expect this to be completed in the next 15 days."
Otherwise, I realy cannot figure out why, not only would Matin spend money issuing a NR within the next 15 days but hehas already spent some, saying he will spend some more in the next 15 days.
Even if one beleives sincerely that this is an outright scam, he would not be able to explain this stupid behavior. After all, even a primary school graduate would have figure out that unverifyable NR's issued by Matin are totally useless, not to say worst.
On the credibility issue, for whatever it was worth, he at least was told by me on March 21st:
...
"Your NR of yesterday realy outlined a very successfull story, even better one if we consider the value of our stock when you came back from Bengladesh and the failure of your strategic plan of december 2002 calling for a large synergy strategy.
This being said, you must realise that the market reacts less and less appropriately to your news releases even when they outline numbers suggesting that our shares could be undervalued by a factor of 10. It may or not be, but I doubt they are worth much less than current PPS.
Unfortunately circumstances created a situation where potential shareholders do not beleive the Veltex story anymore, having absolutely no way to validate whatever it is that you say. Undelivered promissed audits, trial to buy back a facility we tought we owned at your 2004 BOD, the Investrend affair and horrible disparaging messages on a certain message board, all together created this "credibility" issue.
If I can say so, this credibility issue is the single most important issue you will have to address, if you want the value of your shares and mine to somewhat reflect the story you keep putting out. I assume that your bankers, large shareholders and other financial partners also would make your life much easier if our PPS was more important.
You may know it but I still want to say that in my view THE ONLY WAY OUT OF YOUR CURRENT SITUATION (extremely undervalued shares caused by lack of credibility) is to produce a credible set of audited financials signed and approved by a credible auditing firm, without the kind of disclaimers we have read the last 2 times you did try to produce some.
Notice that I do not suggest listing on another market to be as a critical issue as having a good credible audit performed and released.
I assume (but have no way to know) that your problem in doing so is related to the Bengladesh situation (whatever that is) and if so, you may also want to come out clean with the market on what this issue realy is and how you intent to clear it in future.
Mr Matin, I have been around long enough to realize that you had to go thru extremely difficult time following the failure of your december 2002 strategic plan. You however (I hope but do not know) were successful in building an operation worth more than $10,000,000 to $15,000,000 (current capitalization).
How much is it realy worth?
Probably more than that and probably less than the suggested 10 times greater value.
One message you must have received loud and clear yesterday is that the market does not beleive what was outlined in your release.
With all due respect, I hope you will have read this note understanding that it is witten with a very constructive intent and wish you the best in reestablishing a mandatory credibility if Veltex shares are to become valued on merit by the market.
Name and address"
Agreed!
Whatever the details are, that's where I assume the mess is.
However, accurate or not (the mills audit) the question I have is: "Should they even be considered" if we do not own the asset?
... and shortly thereafter, Matin admitted we did not own the Bengladesh business (after he had said we did own 100% of it).
My suspicion is that the accuracy of the audit made out there was a concern but worst, the auditors never could confirm that we did control it.
OMHO
Right on , he did lie.
Initially, he morgaged his Bengladesh assetsto up to loosing control of this business, to finance his 2002 synergy plan. He tought that within few months he would be able to rapidly reimburse the morgage (at least enough to get control back). No reason to let it be known...
Oups! he transport component of the plan was a financial disaster (Matin admitted that) and he could not get back the control of Bengladesh. Matin however tought it only was posponing the reimbursement. No reason to announce that he did not control Bengladesh anymore (even less considering it should have been said earlier).
Since time was to correct the situation, Matin kept talking about Veltex financials as if we still had control of the Bengladesh "subsidiary".
And there he is:
- He lied by abstention, not talking about his 2002 financing operatio,
- He kept the lie hidden when the s.hit hit the fan (transport)
- He kept lying thereafter releasing inapropriate financials.
He now is stuck. He probably will never get Bengladesh back (I suspect he will one day come out saying he sold it). He will gradually reduce the Bengladesh component of whatever financials he may try to release in future (assuming he effectively is growing a North American busines.
IF (big one) future there is for him (and us), it most likely will be when Matin declares BC or announces a sale or merger of the company.
My opinion only and It's worth whatever it's worth.
I do not beleive so!
"An audit would also help."
Very honestly i think you should say "A credible audit is the only thing that could help"... assuming one can be done ???
If I had to bet, I would prefer to go with "Matin, personally or not is buying back from those quitting in despair" than on "Matin is diluting us by throwing away new shares".
Whatever the case, the only important question is what is Veltex realy all about and how much is it worth ... if anything?
10%? No. For years I did work at keeping it at 5% or so, therein playing money I do not realy care if I keep or loose. The value of this small portfolio obviously varies with the value of my total portfolio. This allows me to have fun with some small stocks and trade opinions on message boards related to these (I do not do that with more serious investments in stocks).
As for Veltex, THE ONLY THING MATIN CAN DO TO WORK UP THE PPS IS TO ACQUIRE SOME CREDIBILITY WITH THE MARKET.
THE ONLY WAY TO ACHEIVE THAT IS TO PRODUCE A CREDIBLE AUDIT AND REPORT IT DULY.
If Veltex is anything close to what Matin said in the past, it's obvious he has corpses in his wardrobe and till he cleans that out, he obviously will not be able to have such an audit performed.
Therfore, PR,s, NR,s or any kind of advertizing (paid for or not) is money thrown in the river (in relation with our PPS).
Matin is stuck with an hidden important issue stopping him from doing what he must know has to be done, it's that simple ...
... Unless the whole thing is, as suggested by some, just a scam. I doubt that but do not reject the idea that BC may lie in our future???
He can but he (and/or close ones) may want to pull all possible shares out of the market without diluting more than needed.
If (as I heard a long time ago) Matin pays himself $750,000 per year, he can easyly use a few thousands now and then to pick cheap shares out of those wanting to walk away at any cost right now, Matin or a friend of his can buy 2 shares for $1.00.
This however only make sense if he knows that he can get much more for his shares in a foreseeable future (whenever he can have a credible audit performed by resolving whatever mess he created a few years back).
All these speculations for fun. Seriously, I do not have much hope in here. I was told by many that Matin is an honest person but also know that he didn't listen to his advisors in the past. He obviously thereby made gross strategic errors and he now has to live with them. I do not think he as the competency to pull out of his miseries by himself ... assuming he still could.
Very simply and not saying that Matin runs a scam, because Matin's past behaviors has taken away any credibility one wanted to give him, people consider that, best case, this behavior is justified by past hidden events that Matin cannot divulge, at least for now and people have lost hope that the situation could change in a foreseeable future (then they take their loss selling at whatever price they can get and will try to earn it back with a more credible stock).
Honestly, this is the way to go with this stock right now and the only reason I do not is that this speculation of mine is one of those "long shots" I like to play with in what I call my very high risk portfolio (5% of my total portfolio).
The only "major buyer" I can imagine now is Matin himself or someone close to him and in the secret of things ... IF SOMETHING WORTHWHILE IS FORESEEABLE.
Nobody in his right mind would accept to buy this stock now ... UNLESS HE KNOWS SOMETHING MOST DO NOT KNOW!
Thanks.
Not having a crystal ball I realy do not know if this is a scam or a golden opportunity at current PPS or anything in between. However, I am not that confident that we will see a credible audit in the foreseeable future and therefore do not expect much out of this speculative stock for some time ... at least.
As for the volume, I suggest that the reason it is that low is that those wanting to sell already did it and very few buyers are ready to risk anything in this very odd looking situation.
IF (big letters) Matin effectively has a business justifying a certain capitalization, he and his close ones probably are accumulating all the stocks they can get at current PPS, in view of setting themselves up for a big gain whenever they decide to (can) release a credible audit pushing up the PPS.
This being said, contrary to Rawnuts, I do not know and, as often said,I intend to leave my "bet" on the table (single number) till the wheel stops (1 out of 37 chances to see my number come out).
Came back from an extended holiday and getting back to my PC (wasn't realy missing it anyhow).
"what you expect the price will be 1,2, and 3 months"
Higher, the same or lower. Any other answer is wishfull thinking or blind prediction.
For as long as I know, Veltex could be bancrupt, a great stock to own (if unexpected but needed steps are made) or a merged/sold company (God only knows at what price).
My prediction is that nothing of significance (credible) will happen within the next 3 months but what do I know???
Just came back from vacations and catching up on messages.
Those using FreeRealTime.com see such BS on a very regular basis from all kind of crazy outfits (Stockguru.com., BUYINS.NET, The Street Alert LLC, OTCPicks.com, www.breakouttrading.net, www.otc-advisors.com, ...)
Personally I do not even read them having found out a long time ago that they are only that (BS) for naive (or inexperienced) stockholders:
Aug 3 2006 Stockguru.com: StockGuru Price and Volume Alerts for Thursday August 3, 2006 - One Company Closes $10 Million Financing while Another Signs Letters of Intent
Aug 2 2006 BUYINS.NET: TMY, VGZ, WVCM, ADVC, RMDX, SKFT Have Also Been Removed From Naked Short List Today
Jul 31 2006 The Street Alert LLC: Daily Focus List
Jul 27 2006 OTCPicks.com: Daily Market Movers Digest Stock Alerts, Thursday, July 27th, WNDXQ, ADVC, DBRM, XRMB, SRGG
Jul 24 2006 The Street Alert LLC: Alert
Jul 21 2006 www.breakouttrading.net: Breakout Trading.net Announces Big Movers for Week of July 17, 2006
Jul 21 2006 BUYINS.NET: LR, MKTY, TDSC, VEXP, VLTS, ADVC Have Also Been Added To Naked Short List Today
Jul 21 2006 www.otc-advisors.com: www.otc-advisors.com "BULLS IN THE STABLE " ADVC, PAIV, AOGS, FHAL
Jul 20 2006 Special Report: More Top Performing Penny Stock Picks
Jul 20 2006 OTCPicks.com: Daily Market Movers Digest Midday Stock Alerts, Thursday, July 20th, NXPW, ETYN, CBCL, ADVC, TUBM
See you all in 2 weeks.
Special salute to my good friend Rawnut. Hope you can get all the VLXC shares you want and start posting enthousiastic messages about Veltex and Matin under you new alias when I return.
Hidden no doubt but treasure ? If so not as big as some beleived based on releases by Matin.
As for Rawnut, You are absolutely right but one has to accept that traders do behave like that. It comes with the turf!
Sounds like being caught did trigger some slight anger.
Good buying.
To everybody else be aware: I know far a fact that Rawnut is a trader right now in his buying phase. Read his negative posts with this understanding in mind.
"The day will come that you'll wish that you had bought in at these bargain prices for VLXC."
He will have bought, he will try to sell at the best possible PPS by pumping the stock under a different alias.
Why else do you think he is that active?
"At the current price, VLXC offers great potential for high returns on investment. WAKE UP"
Do not worry, he darn well know it.
Wasn't expecting anything less from someone trying to accumulate at the best possible PPS.
What Alias will you use when you switch to selling your shares (at $1 or so)?
Re your last 3 posts:
LOL
LOL
LOL
IF you honestly consider buying in be aware:
1- This is a high risk speculation
2- Get used to gag some more!
3- Realise many in here are traders in disguise
ANSW:
Date, closing PPS, Volume
Feb-06-06 $14.49 222,700 (52 WKS High: $ 16.24)
Rawnut recommendation on March 15th (the oldest I can get to):
rawnoc_02 Strong Buy 03/15/06 06:10 pm
Yahoo! Message Boards: ANSW
Today $10.13 16,950 (52 weeks low $ 10,00)
----------------------------------------------------
ANSW : $0.90 to $0.50 = - 44%
VLXC : $14.49 to $10.13 = 30%
Rawnut recommendation
ANSW: rawnoc_02 Strong Buy 07/06/06 07:02 pm
VLXC: Strong sell (message board)
Let's admire a great analyst when we meet one! (LOL)
"Maybe my observations since $3.00 a share were bad."
You probably then ran out of VLXC shares and starting at working down the PPS so you could start accumulate again.
You probably accumulated when you were in the process of selling ANSW:
by: rawnoc_02 on ANSW board (Yahoo)
Long-Term Sentiment: Strong Buy 04/18/06 02:48 am
Msg: 7416 of 9011
Piss volume and look at her move.
There is no float out there, and we still have yet to be "discovered" - I agree.
It's mindboggling, IMO, what can and probably will happen when ANSW starts producing results to the bottom line that are as impressive as the ones they've reported to the top line.
The stock had just come down from $14.55 (early Feb) to $12.25 and Rawnut was pumping it.
Those having trusted his great advices now own shares at $10.46 last night and $10.13 tonight.
Market Cap(Th.) 78,284.64
Common Shares Outst. 7,728
Average Daily Volume 48,700
Earnings
Last 12 Months -1.10
This Yr. (Estimate) -1.10
I wonder if Rawnut is thru with his selling of that one?
Probably not since he seems still working hard (bashing) at accumulating VLXC at low PPS.