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Someon wants the PPS low ..........Nbr of shares
12:55:36 PM Trade 0.0004 .............800
11:26:48 AM Trade 0.0005 485000
11:21:34 AM Trade 0.0004 ............2000
10:20:00 AM Trade 0.0005 1232500
10:19:58 AM Trade 0.0005 1767500
10:19:44 AM Trade 0.0005 2900000
10:19:42 AM Trade 0.0005 1000000
9:41:14 AM Trade 0.0004 ..............120
9:38:00 AM Trade 0.0005 3500000
9:33:24 AM Trade 0.0005 19800
The total bet (or gamble) is/was the net amount "invested" (???) up to now.
The odds are function of Matin's hability to pull out of the mess he created over the years (risk could be reduced if he was getting and listenning to good advices).
The current gamble is the current value (PPS) of my shares (could sell take it and walk away from the table).
For the moment I have no clue if the PPS should be higher, lower or the current one (I however certainly do not beleive the Matin's numbers. I suspect he includes those of a sub we do not hold ... most likely because he is incompetent more than sishonest ... I think ???)
As for the company, I am told it's a real one, it's doing business and it's growing. I however donot know exactly how fast it's growing.
I agree 100% that this is a gamble. Having been around for 7 years, I earlier felt far a while that it was an outright loss and I was negligent enough not to write it off. Then it ressucitated, I averaged down and now look forward to maybe recuperate my "bet" ... unless (to all readers: complete the sentense based on tour own beleif).
Again, considering your obvious closeness to Matin, the following is very interesting (to me at least):
"he is ... building the N.A. business to the point where he can spin-off the BD subs. I believe that there is significant debt involved with one sub and when he can he will discharge the debt when he spins it off, perhaps to the lein holder."
If it's pumping, so be it but personnally I tend to beleive it. Would be nice if you could give a time frame for the spinning-off of the BD subs ... obviously an opinion of yours only FWIW!
Who knows.
I just hope that whatever it was, we will see that again but only after I will get more shares at $0.20 or so.
Short of being able to be optimist for the right reasons (beleivable fundamentals), beleiving that Veltex is something other than a scam, given the opportunity, I am ready to trade in and out again, if the market (or Matin) accept to give me cheap shares.
Trading has never been my game but with this stock, I did 2 highly interesting sell after low prices buys, thereby reducing seriously my unit cost.
Who knows ??? Maybe I can do it again ???
The issue with the buyback is that, as with everything else released by Matin, it may be just a made up number, it may be thru or it may hide issuance of new stocks. We have no clue how many O/S realy were out there (no credible audited reported financials)
Unknown - 471,380 = Unknown
What comments are realy possible except:
If one beleives that 471,380 shares were bought back if should also beleive FROM THE SAME SOURCE that VLXC is a stock undervalued by a factor of 10 to 20 (profit of $0.35/share).
Obviously that's not what the market tought (PPS down 14.3% yesterday)
I know you know but, till Matin can normally report to SEC credibly audited financials, he should just forget about these meaningless news releases.
Unfortunately, this news release may have come to early for me to have been accurate in forecasting the end of the month PPS (see post: 12501):
"if Matin doesn't issue a news release, the price will be in the high 30's by the end of the month. If he does issue a release, we may be in the low 20's once more (I hope so, having enjoyed the last bottom up sequence of a few weeks ago).
Honestly, I cannot care less about Happy's thoughts, feelings, motivations or anything else behind the garbage he keeps posting in here.
You are obviously very close to the company and Matin himself. Therefore you writing: "Yes, we need an audit and the company will not be taken seriously until we get one, but is should be obvious that Matin is trying to establish a N.A. entity that is free of the vagarities of the BD subs" makes me beleive that after all my hypothesis may not be that much out of the possible strategies Matin may have.
However, for the same reason (your proximity to Matin) I am worried when you write: "I happen to know that many shareholders and other interested parties called Matin and cautioned him about getting into the retail gas business with all of the inherent liabilities should there ever be a leak. This probably made him more willing to use an escape clause which was probably a smart move."
Hard to beleive that after his disastrous 2002 strategy, Matin would still need to be told that getting in businesses he doesn't understand is outright stupid.
I just hope that those Matin seems to be listenning to (shareholders and other interested parties who called Matin) will guide him into understanding that separating BD's legal relationships from North America's companies is urgent, even if it means showing the real profit (loss) of the NA operation.
A Veltex share should be worth much more than current PPS IF VELTEX NORTH AMERICA presents a real opportunity for future. Even better if the current state of this company is at east breaking even.
Hope Matin ends up understading that his $0,35/share claim is one of the claims making him look a liar, a stupid person or both.
TELL HIM TO SPIN OFF WHATEVER IT IS WE PRESUMABLY STILL OWN IN BD.
Then, maybe, he should be able to manage the remaining operation more normally.
I try to imagine Matin ...
He once more issues an extremely postive news release ($0.35 profit, half a million shares boughtback, a growth strategy) and 5 or 6 hours later his stock went down by 9% on a significant number of shares.
He keeps claiming a net year profit of about $6,500,000 and the market keeps telling him that his company is worth (market cap) 9% less than that ($0.32/share).
I wonder what he says to the people close to him ???
Report.....Date.....Period
10QSB...11/14/2006 9/30
10KSB...10/12/2006 6/30
...8-K...9/29/2006 9/25
NT 10-K..9/28/2006 6/30
Will shortly be 2 full months without any reporting.
Date of the next quaterly report is however tough to predict considering 6/30 numbers came out after 3.5 months and 9/30 report came out after 1.5 month (45 days delay is legal I think).
Lets hope we get the 12/30 report by Wednesday, February 15th.
I wonder if by then (in 25 working days) we will know more about the result of the presumably ongoing negociations ???
If I was confident enough I would definitely own at least that may shares AS AN INVESTMENT.
For the moment however, I beleive this to be a good SPECULATION and therefore limit my risk a little more (6,500,000 share bought at very low cost thru fortunate trading moves).
The info behind my Hypothesis are that:
1- In August 2004 if my recollection is right, Matin did try to have a resolution at the BOD, the objective of which was to "buy what we did not hold" in Bengladesh. This became know almost by accident, someone posting it on a message board.
2- A bunch of shareholders went after Matin (up to then we tought we owned it all) and Matin pulled the resolution out (I beleive he anyhow kept including Bengladesh financials in his reports). He never mentionned this again thereafter (I suspect this is the reason we never can get credibly audited financials from the Bengladesh operation).
Some time later, someone told me that Matin had given this ownership as a garanty against a loan he badly needed (the transport disaster), he never was able to reimburse and he thereby lost the ownership of the Mills.
I also heard that the lowner could be someone related to Matin (This could mean that a relationship thereafter deteriorate or a plot is being covered up ???).
Obviously, all of the above (except for the resolution) cannot be verified and one should look at it in this context.
If the above reflects the reality, Matin's way out could be:
1- Grow a North American opêration
2- Gradually remove Bengladesh financials from his periodic reports,
3- Sell whatever minority ownership we may still have out there (In any case, all he has to do is claim he sold it)
4- Let some time go by then start normalizing the North American company in view of a listing on a more serious market.
Alternatively, if he is plotting with a related person in Bengladesh, he couls "sell VLXC" at market price + a certain %. I however beleive that, if that was the plan, he would stop giving numbers such as those released this morning agai,
Finally, all the above can very well be BS ... who knows (but Matin and his close ones ???
11:11:16 AM Trade 0.0004 3,080,000
11:11:16 AM Trade 0.0004 9,000,000
Someone tought that throwing $5,000 at it was worth the risk.
It however would be nice to know where these shares came from.
It also could just be 2 MM's exchanging shares.
By the way I am still missing my last 245,000 shares of the order I did place (2,000,000 shares) on Dec. 28
I often said that one possible hypothesis is that, after loosing control of Bengladesh (God and Matin know who to ???) and hiding this to the shareholders, Matin must grow a North American business big enough to be normalized as a stand alone profitable operation (He may on the way declare he sold the Bengladesh operation so he doesn't have to discuss it anymore).
This obviously is only an hypothesis and it could very well be totally wrong (Some will say it is ???)
However, today's release seems to support such an hypothesis but who knows ??? :
1- No mention whatsoever of Bengladesh except in the standard final statement (disclaimer).
2- "While our focus continues to be the establishment of a self-sustaining North American based corporate entity, ..."
3- "Veltex Corporation's primary business remains the Promotional Products Industry. In order to continue growing our customer base, it is critical that we establish a network of distribution centers through our marketing area, ..."
4- "We are actively seeking a facility in the southeastern U.S. as well to complete our distribution network."
As I said earlier (as per my source), work is still being done, trying to close acquisitions, outcome is still doubtful (cause of current silence) and outcome should be known within weeks (as of 3 weeks ago), not days.
Realistically, one can try to be positive with this stock and benefit of the doubt should be given to our management.
My position right now: Moderately optimistic.
If one wants to be serious, any number between 20 and 75 cents is thinkable.
This being said, trying to respect your rule ($0.05 range) and for the fun of it, if Matin doesn't issue a news release, the price will be in the high 30's by the end of the month.
If he does issue a release, we may be in the low 20's once more (I hope so, having enjoyed the last bottom up sequence of a few weeks ago).
Oups! I knew but must have had my mind somewhere else.
Stand corrected.
Thanks
In my case I never pulled my order, I just let it ride!
Pinksheet market is curious and MM's do not respect priorities of orders. I knew that but here is another demonstration supporting this.
On Dec. 28 I placed an order: 2,000,000 shares at 0.0004.
A couple of hours later I got a fill for 1,010,000 shares.
There was about 40,000,000 shares traded at 0.0004 since then but as of late today, I hadn't got any additional shares.
Now by the very end of the day today (10 seconds before the end of the day) I got 745,000 shares and I still wait for the last 245,000 shares.
3:59:50 PM Trade 0.0004 745000
My bet is that new acquisitions there will be. I do not expect "THE BIG ONE" but some smaller but constructive ones.
I expect to see the first one (s) before the end of February.
A very happy new year to all!
Hope God gives you health, happyness and love in 2007.
These priorities being met, may our ADVC shares bring us an interesting return in 2007
Listen to the following on the 31th at 23h59m50s:
http://www.icq.com/img/friendship/static/card_16961_rs.swf
A very happy new year to all!
Hope God gives you health, happyness and love in 2007.
As a long shot wish, may Matin endup doing what's needed for us to profit from our shares (assuming this to be possible ???)
Listen to the following on the 30th at 23h59m50s:
http://www.icq.com/img/friendship/static/card_16961_rs.swf
Decided to add a little to my position if I can get shares at $0.0004.
Placed an order for 2,000,000 and by closing I had 1,010,000.
As I often said (may as well put my money whewre my mouth is) I consider a market cap of $2,000,000 quite low cinsidering what has already been reported to SEC.
If by any chance, the company can announce an acquisition (not necessarely the $100,000,000) I think I will make quite a lot (once more).
If not, I still beleive I have my money worth ... unles (???) unforseen reasons could justify BC ... I do not beleive that.
Low downward risk, high upward potential ... Good SPECULATION !
I can ... JMHO!
"this company will be bankrupt and so will you"...
Do not worry for me, I'm doing quite well these days. Look at another POS I bought on the 15th (VLXC at $0.20) and sold today ($0.50). Then look at TH in Toronto (went from $1.80 to $7.50 right now). I sold half my shares today. Bancrupt is not looking at me right now.
As for ADVC, you are probably as right with it than you are with me.
Try to keep your pressure low, it's dangerous to get to exited (read mad).
Within few months this may very well end up having been a great move (even if big acquisition doesn't happen).
Good luck.
Whatever happen, I took my money back (purchase of Dec 15th at $0.20) selling this morning at $0.50 and keeping 4,000 shares thereby free and reducing once more my cost.
With luck, who knows, may be I will make money in 2007 with this speculation. After 7 years, may be that would just be fair ??? LOL!
As mentionned earlier, I intend to ride the shares I had up to last week and see what happen. I beleive there is a Veltex company out there, that it is making business and that, after all the smoke is gone (whenever that is), a certain net shareholder's equity will be there.
I absolutely do not beleive that this (what we realy own) generates a EPS as the one suggested by Matin but, assuming 20,000,000 O/S, for the stock to be worth $1.00, an eps of more or less 10 cents would be more than enough.
A $2,000,000 profit from a $40,000,000 revenue is what I hope to see (long term), when Matin will have burried the hidden scheme he did with Bengladesh (I personally hope he sells whatever is out there and he then normalized an auditable North American operation.
I am in no rush and do not hold my breath.
As for the other 50% of my shares (recently bought) I intend to sell them with a profit short term but I somehow prefer to let year end and January go by before I do it (unless recent rapid growth of the PPS keeps going with no explanation)
These are toys I enjoy playing with and my view is that it's an interesting SPECULATION.
JMHO!
Haven't yet sold.
Abstract from my post 12454:
"6- At $0.20 I think this could still be a nice speculation (high risk, interesting reward potential).
I therefore decided to average down by doubling my position.
If lucky (this is kind of a bet) in some not to distant future (after Matin will have resolved (read "sold") the Bengladesh operation, I shall be able to sell at $0.60 and escape with all my money back (Doesn't take much to justify a Market cap of $10 to 15 million $$$).
If so, I shall consider myself a real lucky SOB !!! LOL !!!"
Realy enjoy my little toy and cannot care less about your losses. LOL!
I assume this to be one of those my friends was reffering to.
Cleaning it, I was able to clearly read the Veltex name on the boxes.
Back at it ???
By the way "savvy investors" do not play stocks traded on Pinkshett or even OTCBB, even less penny stocks of non reporting companies.
When you accept that, you look at the herein posters as being traders, speculators or gamblers and you do not present them with concepts applying to investments.
I do not know where your motivation comes from but you must have been royallyscrewed to be so interested in disparaging this stock (you may be right but this has yet to be proven).
As for your pictures, I realy do not care and I consider them totally irrelevant. I know someone close to the company who told me that much better ones can be produced. I however do not realy care about the look of the offices/wharehouses.
Cannot answer private messages.
Q- What's your stock price estimate for year end?
A- Don't have a clue!
Q- Why the sudden rise in price for the last couple days?
A- One tought I had (but who knows ???) is that maybe (just maybe) some sold, taking their losses for income tax reasons and now, those who sold 30+ days ago are buying back at low cost.
Q- Is the sell off over? (Be ready for some profit taking soon, maybe.
A- Maybe but I would wait till January to even think of taking a profit. As I said, I bouth shares at $0.20 recently and I intend to see the January action before I decide to keep or sell.
LMHO that one doesn't have to share (even I could change it sooner than later).
I do not mind having fun but if you start asking serious questions such as "What due diligence was performed in analyzing the potential opportunity with Mt. Zion Gas" I shall let those who know answer you.
Fun to look at Matin going, see that he has kept doing whatever it is he does for years without being arrested, notwithstanding the numerous complaints made by pissed shareholders for year to every possible regulatory and political instances.
Personally, I like trying to read him playing with speculative money I can afford to loose.
If this is anything but a scam (I think it's not a pure scam but what do I know) at a cost of $0.60 or so, I see a possibility not to loose it all.
Time to spend and just for fun ...
Q: "What sparked Javeed's interest in acquiring Mt. Zion Gas Inc. when Veltex has no experience in this type of industry?"
A: Could be: "there is a 5,000 square foot warehouse located on the property, which will be used as our Veltex Apparel distribution center for the greater Midwest region. This warehouse will be used for the Chicago distribution center."
Q: "Will continued acquisitions happen soon and lead to further declines?"
A: Could be that, at least for the moment, this purchase (announced Déc. 14th) may have justified part of the recent PPS increase ???
I wish you the best. I stopped asking him valid questions. After a while he became mad at me and told me to sell my shares.
Whatever Matin is trying to do and is doing, are well kept secrets and he can't care less about the feelings of his shareholders.
From what I heard, he think he will end up being able to normalize a company (???) and there after have happy forgiving shareholders.
I (selfisly) wish him the best ...
In December 2002 (I think) Matin got into a totally disastrous Synergy strategy (it then was the hot thing to do and many did the same error Matin did).
At least (if one beleive what he releases, he now (try to) buy wharehousing facilities (even if a gas station comes with it.
If (as one of my hypothesis is right) he tries to build an American based operation. buying wharehouse seems more realistic that buying travel agencies, trucking companies and other unrelated or highly specialized businesses.
That is if you beleive him and accept an hypothesis of mine ... a lot to accept to start with !!!
Who knows.
At least they haven't said the deal alluded to 3 months ago was dead. One therefore can ASSUME it's still being worked on.
Let face it, if there was (is) such a deal in the works, 3 to 6 months to close it is not realy unreasonnable.
What was unreasonnable was to say it was to close rapidly.
Whatever the case, current PPS (market cap) is in line with current Shareholder's equity. This should minimize our risk!
1- I have unused $$$ in my speculative portfolio (5%) following the buyout of YAKC.
2- I do not beleive Veltex (as it will endup being) will show anything close to a $0.35 EPS.
3- I had a cost per share of slightly less than $1.00
4- I beleive there is such a thing as a Veltex company working at building up a North American distribution network.
5- I assume there is effectively more or less 20,000,000 O/S (I however am troubled by not knowing what the options are/were and by not knowing where the shares now being sold do come from.
6- At $0.20 I think this could still be a nice speculation (high risk, interesting reward potential).
I therefore decided to average down by doubling my position.
If lucky (this is kind of a bet) in some not to distant future (after Matin will have resolved (read "sold") the Bengladesh operation, I shall be able to sell at $0.60 and escape with all my money back (Doesn't take much to justify a Market cap of $10 to 15 million $$$).
If so, I shall consider myself a real lucky SOB !!! LOL !!!