If Matin is above board at least currently, forget 2004 for purposes of valuation. Look at $45-55 million estimate in 2005 to judge by. Currently nobody is willing to trust the $11 million net profits forecast and the end of year share count. Revenue totals are not trusted, as being meaninful anyway because of questions over Bangladesh.

The only thing to trust I believe is Veltex does have a real business, unknown as how to place value on. Also the reason this may be a good speculation is there appears to be growth, but that does not prove anything.

sam

Another way to look at is that currently Veltex is a speculative play. Some day if the speculation is justified it might be a value play. If that day comes, then current price would with hindsight be cheap.

sam

I think there are about 4 ways to qualify for AMEX. You would have to look up the criteria and study.

If need be one could be reporting on the bulletin board exchange.

Eventually if my understanding is correct as mentioned in the history through google on Miller a good background, I bet we will get on AMEX.

Another possibility down the line is this company could be a buyout candidate if it delivers.

I would like to know what is probably the greatest risk. My first concern is are they going to be profitable for the foreseeable future, I believe they are.

sam

Pual,

One problem with startup theory is, this means a large part of the past was based on worthless lies where Matin claimed this is a company with such and such and instead it amounted to nothing.

Sure then he could be building from nothing to something, but why have faith after that?

sam

An explanation should be and we are not getting. That is a negative point. There was one-weak negative oriented one for KCA as details were not sufficient. That is not to say up to now overall the share increases of the last 6 months were not good long-term for the company, but how are we to know?

For the entire history of the company there has been way too much of this. Hopefully, emphasize hopefully, most of this was due to the trucking fiasco plus getting KCA. Without adequate explanations for share increase, proper interpretation should be negative because Matin to begin with has not earned trust.

Also since there are a multitude of questions about what Bangladesh operations are worth to us, continual share increases makes one suspicious as others have suggested that this company is not reality profitable.

sam

George8,

There is really only one part of what you say I agree with. That is there must be a stop to rapid share increase. That right now is the best measure of this company.

The good press releases recently are a start. More good press releases hopefully will come, but if the rapid share increase never stops then we will be sunk I think.

sam

Obviously the background of Miller is of utmost importance.

I am still unclear as to his background as to whether impressive or just okay.

The other question I have is "very risky". I would have thought this major acquisition would have taken this from "very risky" to below-average risk. If this company performs like car-mart, I would think we are in good shape.

Opinions on these 2 issues would be greatly appreciated.

sam

Pual,

Good or bad the fundamentals may be and thus the stock price to come, but in any case being well-informed is our goal, Matin's goal is iffy.

If you are in contact with Shrotker which I assume you are, pass on that 2003 audit was not as informative as it should have been and we are still never seeing details on share increases.

Obviously we would like full knowledge of everything whether good or bad as long as that is knowledge that can be shared.

Also, did everybody notice the float count mentioned as 3 million versus 1.1 million?

sam

If estimates are to be trusted .21 or > for second half

sam

Best potential risk/reward in my opionion of all stocks, don't know them all of course.

sam

Sure a change of tune Ambulance.

I am no technical expert but I think another 10% drop would be needed to show a clear break from trading range.

Then it is still all about the future. I like the odds.

sam

Invest1980,

Historically you are 100% accurate. I think still a good speculation at lower prices, but must be viewed as risky and speculative only.

sam

Seems like $12 which looks conservative except for based on Shamrock acquisition I believe which hopefully is in the bag.

sam

Asca,

Maybe you in all fairness should voluntarily report for jail time for jumping on Shrotker too eagerly. Be suspicious of everybody if you wish, but don't confuse it with outstanding honor. Shrotker was in favor of being suspicious of others.

If you want objectivity, how many people here are 100% convinced Veltex is a scam?

If anybody is, explain the press releases where established companies are doing substantial business with Veltex. I don't think anybody can, but if you can do everybody a favor and explain. Obviously a company can be a combination of real business and scam, the last stand for scam position in the long run revolves number one around whether this is really a profitable company. It just might be in my opinion, but that is an iffy topic.

sam

sam

Actually an interesting thought would be what would a young Warren Buffet put on this?

He might would put none because he likes business plans where competition is limited, but if he really did like everything about I am thinking close to 100%, he would not heavily diversify. He would thoroughly know first though in his mind that the risk was as close to zero as you can get without a time machine.

I think for those who are not so confident as that, you could still make an argument for a huge percent on this. I am not as confident as Maddog I think.

sam

Ambulance,

That was your personal interpretation of his wording. If you wanted hard facts, you should have asked for % of portfolio.

sam

Growth and Value,

Your post is a perfect example of why I think the price in 12 months can not be predicted.

sam

Also are you suggesting you were losing objectivity when you were holding and hated to be in that position.?

Emotion can even be greater after a decision has been made, looking back and wondering.

sam

Here is a Rawnoc theory,

I can understand this is more entertaining than many boards.
When Rawnoc sold, he entered into entertainment mode in which for purposes of entertainment, Rawnoc does not feel the need to be objective.

sam

Actually I think to move up in price as it has it shows there has been some attention.

sam

Actually in this case, just curious why does company need exposure?

sam

Another point not understood well by me at least or discussed much by anybody is that we do have to believe we now own KCA. That is not a startup.

To speak strictly on the view of startup doesn't make sense to me. You can say only understandable is 2005 U.S. activities in a very limited way, but that is not what Veltex is. It is at least KCA. The mills justifiably you can put aside. But what value is KCA? Nobody knows I think, but has to be assumed to be worth something.

sam

Pual,

Shrotker said he believed textile mill was owned by vlxc. Correct?

sam

What % of your portfolio would you put into a stock like this at this moment and price? More in something else?

sam

Should one be cautious estimating future worth until planned acquisitions for this year are completed?

sam

Growth and Value,

I think it is reasonable to discuss as you are doing. It is all plausible, but factually I think we are in the dark. 2004 audit must be done. Company must become properly reporting in order to put dark days behind.

sam

Rawnoc,

I don't think you have facts on your side. I think you only have intuition that you are promoting. I don't understand why you are so deeply convinced.

sam

Rawnoc,

How can you rationally say this looks completely like a scam when supposedly another company says it looks forward to a long-term relationship?

sam

You should know mm=miamimice eom

I am a free boy last post.

If you are Christ, then yes Shrotker is the anti-Christ.

sam

51

Unfortunately compared to 30s, I am old. I was a stubborn inflexible guy when I was 5 too.

sam

I don't know the inside of Matin's head, but I would consider a part-time position to help with publicity as long as nothing I observed was illegal as you would too.

Your best ammunition is you believe you would spot plenty of illegalities here.

sam

I have read Shrotkers' posts for too long to be swayed, you have even less chance with Pual to change his opinion. In fact it wasn't long ago that Shrotker took offence to your accusing Pual of pumping. It is relevant though to judge Shrotker. If Shrotker stands up to scrutiny so goes the company somewhat. I predict an interesting year, already is.

No prediction of price though, except good gamble I think below $1.20.

sam

Rawnoc,

When did you first suspect Shrotker? When did you first question him in a post? I did not notice before 48 hours ago your questioning the post about touring facility. He would have been 48 hours ago on chummy terms with Matin but not official yet.

Shrotkers' posts to my memory showed a difference in outlook only within the last week. My outlook changed to in last week after the 1st press release of 3 mentioning names and dollar amounts with those customer names.

I believe you cannot succeed in changing peoples' opinions of Shotker. Matin is an easier target.

sam

Maybe I am naive. What is the big deal about trying to get your phone number and address, what is the point?

I don't understand about the info he gave you but if he was trying to deceive he is clever enough to give at least a false new york nbr to go with adress.

sam

Rawnoc,

Anybody is capable of bias including you and me. I think historically Shrotker was as unbiased as pretty much anybody on this board. Far better examples of bias have visited here.

Also I don't think Shrotker would accept a position with Veltex if he thought he was assisting in a crooked operation. He could be wrong of course. You can bet if I am right, he knows the scoop on the fax and is presently comfortable with, at least compared to you. I don't think he knew about fax yesterday morning. You probably don't agree.

sam

When asked and when accepted aren't always at the same time.

When asked I guess within last 2 weeks, I am betting since my post to him about asking Matin to help on pr which is probably 1 week or less.

sam

Rawnoc,

Coincidence or not, I suggested to Shrotker on this message board shortly before these interesting events that he ask to assist Matin with press releases in the belief he could do a better job.

sam