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I wrot (copy-paste):"Only fools could beleive that a message board as a significant impact on a PPS."
You wrote (copy-paste): "Only a fool would believe that message boards don't effect the price of pinksheet scam stocks.Good God, are you living in a cave somewhere?"
I know my english is bad (second language I do not use that much) but ...
"Most people have real money on the line that they can't afford to lose and want real information."
If so, it's realy unfortunate.
As for real information ... what a source you are and who realy trust a message board to get some???
"If you don't want to hear what I have to say - you are more than welcome to put me on ignore"
As I said, I have fun with this stock and the message board is part of it. I do not realy disagree with most of what you say, I just consider that you are dishonest claiming that you KNOW. beleive, think, wonder ... fine with me but know ??? Who the heck are you (You could be Matin since, as I wrote before, he mentionned to someone that he should sell his shares. I wonder who to ???)
Only fools could beleive that a message board as a significant impact on a PPS and the same about claiming certitude about all pinksheet stocks.
This being said anyone speculating on ANY pinksheet stock should be sure he only throws in money ha can afford to loose... same thing as entering a Casino or buying a lottery ticket. However, some do win a little, some a little more and some a lot more in the three games ... even if a very large majority do loose.
At least Veltex, may very well be worth something but who realy knows how much ??? 15,000,000 shares = $ $12,000,000 capitalization but one has to realize, shares are not the only ownership tools out there (Matin alluded to options not very long ago).
One thing I agree with you however, this thing realy smells sh.t ... but so does OKA cheese in my opinion ... LOL!
Exept past ... You do not need a crystal ball to know what did happen and no crystal ball helps knowing the future.
Now may be a "Rawnoc" is what one needs to know for sure what coming ???
Haaag! No thanks!
"All of my posts are just my honest opinion, and I may be wrong" ... and who knows ??? May be you are wrong ???
Feeling just great.
As for my eggs, have a look at ADVC (I now have 5,000,000 free shares and left over money and if you also play canadian stocks, have a look at CTO (I have 10,000 shares costing me less than $1.00) ... among few other toys I play with in my small speculative portfolio.
Hope you are also making good with whatever toy you play with.
Gee you make things more complex than they are.
First stock is a play I enjoy whenever I have time to spare.
Second I am invested in more than 40 different stock.
Third, as a toy, I decided a long time ago to have 5% of my portfolio in highly speculative stocks I can discuss on message boards whenever I feel like it. Veltex has been, is and shall remain one of these toys.
The fun part about this toy is to try to figure out what Matin is up to and what could justify what he says an does.
Obviously I could sell my shares right now, recover old money to buy another toy but I still enjoy playing with this oneThat's all there is to it.
Long term, of two things one, my toy will breack and I will throw it in garbage or it wont and I will keep playing with it.
Now an unexpected surprise could render the affair even more interesting if, at a time when I get bored with the toy, someone decides he want to buy it for more than I paid for.
Till then, I keep it in my toy box and play with it whenever I feel like it.
The thing I do not do (neighter understand) is why someone would enjoy looking at others play with their toys (may be they don't have any) and feel justified to tell them to get rid of their toys. ???
May be they would like to take it from them or they are just frustrated.
I suggest to you that instead of loosing your precious time advising others on how to play with a toy you do not own, you should invest your time in writing a book yourself.
As you say it's a gamble and with any gamble the outcome isn't known up to when the fat lady sang!
Some gambles do present better odds than other but generally, the worst the odds the highest the potential reward.
This being said, Having owned shares of Veltex for close to 7 years now and having reduced my cost along the way to under a dollar, this is now a relatively small gamble and a "game" I enjoy to play. Trying to figure out who Matin realy is and what could justify his apparent stupid behavior is something I have fun with and worth my bet.
As for getting better speculations (lower risk gamble if you want) or investments I have many of those and they are obviously more profitable but at the same time less fun ... generally.
As an example one (speculation) which is real fun and profitable is ADVC, if you are interested.
To bad we do not have a crystal ball but if we all did where would all the fun be?
I agree with that.
Not beleiving that Matin is stupid and knowing he has a lawyer and business partners, I beleive that he is setting up the stage to "gracefully" get rid of the Bengladeshi subs, for 2 reasons:
- He kept for a long time including Bengladesh's revenues in his financials, even if he did not have control of it,
- In any case, serious auditing firms did not accept numbers having been audited out there.
From what I can see (look at the bottom of this morning PR), he gradually remove some of the Bengladesh financials from his forecasted numbers so that, by the time he reached $100,000,000 revenues he will be able to spin it off with minimum impact.
I beleive he tries (advised by his lawyer) to do over time what he failed to do at his 2004 BOD, repair a less than legal situation before he can normalize the company (after all he also owns share).
I also wonder how many millions of options are out there (obviously, after 1,000,000 will have been bought back ... Lol!) and what they are all about?
For that (stock buyback) as for everything else with this company, one can beleive whatever he wants and runs a slight chance of being right.
This being said, I beleive (???) that Matin will use the next claimed (???) acquisition to write something along these lines:
"Veltex did acquire ABC company for cash and a unrevealed number of shares. Following this strategic acquisition and the now completed stock buyback, the total number of O/S stands at ... (pick your number between 15 and 20 millions)."
With some luck Matin may even throw in a forecasted profit for the year so a reader will be able to figure out that current PPS is definitely undervalued (LoL!).
Following this PR (different fron NR) PPS may go up somewhat for a day or two, then start retracting some more to God knows what.
The only way out of this vicious circle is for Matin to produce a trust worthy audit and duly report to SEC.
My recommendation is that one doesn't hold his breath waiting for that to happen. My beleif (???) is that we shall never see that. I think (???) that, at one point in time, someone (???) will make an offer to buy the company (at let's say 25% over market), privatize it and no one will ever know what the real story will have been for the past years... This assuming that whatever the company is, is worth 1.25 times the then ongoing capitalization.
Personnally, holding shares costing quite less than $1.00, I do not mind keeping this SPECULATION go.
If by any chance (and a lot of manipulation), the PPS goes up seriously (let's say $1.75 = or - $0.25) then I would be real happy to jump ship.
Enjoy!
O.T. Chretien is our retired Prime Minister. His wife is french speaking.
At a dinner thrown in her husband's honor, a man turned to
Madame Chrétien and said, "Your husband has been such a prominent public
figure with such a busy schedule. How quiet retirement will seem in
comparison."
"What are you most looking forward to in these retirement
years?"
"A penis," replied Madame Aline Chrétien.
A hush fell over the table.
Everyone heard her answer, yet no one knew what to say next.
Jean leaned over to his wife and said, "Aline, in Hinglish dey
pronounce dat word, "Appiness"
Just went to see if the other board was as active as ours is. Not much going on out there either. Obviously, most have sold or abandonned whatever hopes they had ... at least for a forseeable future. Matin's PR's are water thrown in the river.
During that time, he (presumably) buys assets with (presumably) extremely undervalued shares.
What a joke (not one to laugh about however) this guy is.
Talking about joke, here are "highly scientificly based" recommendations made by AmericanBulls.com
"VELTEX
Daily Commentary
Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 03.22.2006 (28) days ago, when the stock price was 0.9500. Since then VLXC has fallen -9.47% .
BUY-IF is confirmed by a white candlestick with a higher open. The buying price is today's open ( 0.8400 )."
Here is what they recommended historically (this could help newcomers see what did happen to the PPS over the last year):
Date Price Signal
04.19.06 0.840 Buy
03.22.06 0.950 Sell
03.13.06 0.950 Buy
02.10.06 1.020 Sell
01.27.06 1.060 Buy
01.13.06 1.350 Sell
01.05.06 1.020 Buy
12.20.05 1.100 Sell
12.15.05 1.400 Buy
12.08.05 1.500 Sell
11.21.05 0.810 Buy
10.21.05 1.000 Sell
10.18.05 1.000 Buy
09.08.05 1.160 Sell
09.06.05 1.200 Buy
08.18.05 1.570 Sell
08.11.05 1.550 Buy
07.29.05 1.660 Sell
07.26.05 1.620 Buy
07.19.05 1.550 Sell
07.01.05 1.600 Buy
06.20.05 2.200 Sell
06.09.05 1.660 Buy
05.18.05 1.180 Sell
05.16.05 1.080 Buy
05.02.05 1.070 Sell
04.07.05 0.7700 Buy
03.30.05 1.100 Sell
I do not know for how long you have been away but you haven't missed much.
Matin will soon tell us that the acquisition has been completed. Let's hope he does underplay it so he starts building up some reserve to cover his pas lies (Bengladesh in particular).
Personally I beleive (but would not bet much) that Matin will start to adjust his story so it ends up reflecting the thruth one of these days.
Then and only then will he be able to start operating Veltex as a publicly held company (audited financials, reporting to SEC, ...).
At current PPS, I assume risk to be low. However I absolutely do not buy Matin's figure suggesting that a $10 PPS is what we should see.
AT LEAST WE KNOW HE NEVER DID ANYTHING TO TELL THE MARKET WHAT THIS ACTION WAS ALL ABOUT. NOTWITHSTANDING THE NEVER PRODUCED AUDITS AND THOSE DISCLAIMED RELATIVE TO THE BENGLADESH FIGURES, THIS "GETTING CAUGHT YOUR PANTS DOWN" CAUSED MATIN'S CREDIBILITY TO BE LESS THAN 0 WITH US (LONGS).
ANYONE FOLLOWING THIS STOCK SINCE SOME TIME KNOWS THAT MATIN HAS REASONS NOT TO BE TRANSPARENT WITH THE MARKET. AS FOR WHAT THESE REASONS ARE, ONE CAN ONLY SPECULATE BUT WITHOUT BEING A PURE SACAM VLXC IS SOMETHING ONE SHOULD BE EXTREMELY CAREFUL ABOUT. SOMETHING SMELLS BAD OUT THERE.
THE MARKET NOT BEING COMPLETELY DUMB, IT REFLECTS THAT AND DURING THAT TIME MATIN WANTS US TO BELEIVE THAT HE ACQUIRED AND PLAN TO ACQUIRE MORE ASSETS WITH SHARES HE CONSIDERS EXTREMELY UNDERVALUED.
HE DOES ACQUIRE ASSETS BUT WITH SHARES WHICH TRADE AT LESS THAN $1.00, WHATEVER HIS STORY IS.
GIVE ME A BREACK!
I DO NOT ACCUSE BUT SUSPECT THAT FOR WHATEVER REASON (LESS THAN HONEST BEHAVIOR OR INCOMPETENCE), MATIN CONTINUES TO REPORT REVENUES AND EARNINGS AS IF HE OWNED THE BENGLADESH OPERATION.
WE KNOW THAT, AT LEAST IN AUGUST 2004, CONTRARY TO WHAT WAS SAID UP TO THEN, WE DID NOT OWN CONTROL OF VELTEX TEXTILE MILLS INC.
MATIN THEN GOT CAUGHT AND SINCE THEN I SUSPECT HE IS TRYING TO MAY BE REACQUIRE THIS ASSET SOMEHOW (DOUBTFUL) OR BUILD A NORTH AMERICAN REVENUE GENERATING COMPANY WHICH WILL HELP HIM BURRY THE LIE WHENEVER THIS BUSINESS IS IMPORTANT ENOUH TO DO IT.
AS YOU SEE I DO NOT SAY THAT VELTEX IS COMPLETE FABRICATION BUT SUGGEST THAT THE MARKET, INCLUDING THOSE WHO DO KNOW, ESTIMATE THE VALUE OF THIS COMPANY TO BE MORE OR LESS $10 MM... FOR THE MOMENT.
TO BAD MATIN REFUSES TO TAKE THE HIT AND COME OUT CLEAN WITH THE REAL STORY.
SOURCE: NOTICE OF SPECIAL MEETING OF SHAREHOLDERS OF VELTEX CORPORATION - Dated August 25, 2004
Special Meeting of the Shareholders of Veltex Corporation has been called by the Company's Board of Directors, to be held on the 15th day of September, 2004 at 9:00 a.m. ... for the purpose of submitting the following proposals to a vote ...
b) To issue 18,000,000 shares of the Company's common stock for all of the outstanding shares of Velvet Textile Mills Limited.
Cannot conclude from that reading but tought interesting that, notwithstanding years of presumed reporting of Matin to SEC, the guy is still doing whatever it is he is doing.
If, as often affirmed by some, VLXC was just a scam, one wonders why all the claimed reporting hasn't stop Matin whatsoever?
Just posted the following on the other board (RB);
Haven't been here for a very long time (to much garbage) but tought that the following could be of interest to some in here. Enjoy this, coming from another board!
SEC Files Emergency Action to Stop Ongoing Microcap Stock Fraud
FOR IMMEDIATE RELEASE
2006-50
Washington, D.C., April 6, 2006 - The Securities and Exchange Commission today filed an emergency enforcement action in federal court charging two New York men, Faisal Zafar and Sameer Thawani, with perpetrating an ongoing securities fraud over the Internet. The complaint alleges that since late 2004 and as recently as March 2006, Zafar and Thawani have engaged in a "pump and dump" scheme to manipulate the market for at least 24 thinly traded "microcap" or "smallcap" stocks. The defendants made over $873,000 by purchasing the stocks, anonymously disseminating false information about the companies on popular Internet message boards, and then selling the stocks at artificially inflated prices.
To deceive investors into buying these stocks, the defendants have preyed on public fears about terrorism and international health epidemics, among other topics. For example, after the London subway bombings and reports concerning a deadly "bird flu" virus, Zafar posted messages falsely stating that one issuer was receiving a contract from the Department of Homeland Security to improve security on New York City subways, and that another issuer was acquiring a company that produces "bird flu" vaccine.
Acting on the Commission's application for emergency relief, the United States District Court for the Eastern District of New York issued a temporary restraining order that, among other things, froze the defendants' assets and set a date for a hearing on the Commission's motion for entry of a preliminary injunction against further violations and other relief while the action is pending.
Mark K. Schonfeld, Director of the Commission's Northeast Regional Office, said, "Today's action underscores the Commission's continued vigilance against all forms of fraud involving the microcap market. Investors who participate in this segment of our capital markets are entitled to know that the securities laws will be vigorously enforced against all violators."
David Rosenfeld, Associate Regional Director of the Northeast Regional Office, added, "The defendants preyed on innocent investors by using the relative anonymity of the Internet to manipulate the market. We have acted today to stop a brazen fraud and hold the perpetrators responsible for the harm they caused investors."
The Commission's complaint further alleges as follows:
After buying shares at prevailing market prices, Zafar and Thawani used online aliases to post messages touting the stock and containing phony press release excerpts or other fake "news" about the issuer to deceive investors. In addition to capitalizing on actual events in the news, the phony headlines concocted by the defendants have also included false claims of huge business contracts, mergers and strategic alliances between these little-known issuers and an array of major corporations -- such as Google, Kmart and Sun Microsystems -- and other dramatic developments designed to make the targeted stocks appear to be surefire investment opportunities.
Zafar and Thawani are engaged in a classic Internet "pump and dump" manipulation scheme whose basic structure is as follows: (1) one or both of the defendants purchase shares of the issuer's stock in their online brokerage accounts; (2) the defendants register multiple online identities ("User IDs") with Internet message board services; (3) the defendants post multiple messages attributed to their User IDs on Internet message boards devoted either to the touted stock or to other, more widely followed stocks; (4) the messages contain materially false statements about the issuer and urge other investors to buy the stock; and (5) as soon as the stock price increases due to purchases spurred by the false statements, the defendants sell their shares at the inflated price for a quick profit. After their sales, the price of the stock quickly returns to its pre-manipulation level. These events sometimes all occur within the span of a single day.
The defendants have created at least 300 different User IDs and have used them to post well over one thousand messages fraudulently touting the stock of at least 24 small-cap issuers, some of them on multiple occasions. The defendants created these multiple online aliases in order to conceal their identities from investors and make it appear as if the same breaking "news" is coming from multiple independent sources. More recently, the defendants have also targeted specific investors by posing as moderators of Internet user groups devoted to low-priced stocks and sending emails to the group members while simultaneously posting false messages on different Internet message boards about the same stock under different user names. These emails purport to alert investors to imminent news about the stock and urge them to capitalize by buying the stock before the "news" is made public.
The complaint charges Zafar and Thawani with violations of the antifraud provisions of the federal securities laws. In addition to permanent and preliminary injunctive relief, the complaint seeks disgorgement of all illegal profits and the imposition of civil monetary penalties.
The Commission acknowledges the cooperation of the United States Attorney's Office for the Eastern District of New York and the Federal Bureau of Investigation in this matter.
# # #
For further information contact:
Mark K. Schonfeld (212) 428-1020
Regional Director, Northeast Regional Office
David Rosenfeld (212) 336-0153
Associate Regional Director, Northeast Regional Office
George N. Stepaniuk (212) 336-0173
Assistant Regional Director, Northeast Regional Office
Additional materials: Litigation Release No. 19642
http://www.sec.gov/news/press/2006/2006-50.htm
Someone did it again ???
3:59:44 PM Trade 0.93 100
3:34:56 PM Trade 0.87 1500
O.T. Taken from another board...
A business man got on an elevator.
When he entered, there was a blonde already inside who greeted him with a bright, "T-G-I-F."
He smiled at her and replied, "S-H-I-T."
She looked puzzled and repeated, "T-G-I-F," more slowly.
He again answered, "S-H-I-T."
The blonde was trying to keep it friendly, so she smiled her biggest smile, and said as sweetly as possibly, "T-G-I-F."
The man smiled back to her and once again, "S-H-I-T."
The exasperated blonde finally decided to explain. "T-G-I-F means 'Thank Goodness It's Friday.' Get it, duuhhh?"
The man answered, "Yea, yea...'S-H-I-T' means 'Sorry, Honey, it's Thursday"
I own over 40 different stocks and just over 5% of my portfolio value is in 4 or 5 speculative stocks (I may transfer ADVC to my investment portfolio).
This to say that VLXC is the most boring stock one can own.
Not moving one way or the other, nothing credible to extrapolate from and whatever the company (Matin) says has no more impact on the PPS.
One wonders for how long Matin will continue to behave as someone obviously hiding critical facts (not to say lying).
Unfortunately, he probably will let it go for as long as he can afford to get a top notch executive pay.
Since I beleive VLXC (whatever it realy is) to be worth more or less $10,000,000 (may be more ???) I keep these shares waiting (but not holding my breath) for someone to get Matin behave as the executive of a publicly owned company or outright sell whatever it is we own ???
I realy wonder why Matin keeps issuing press releases instead of keeping this money to invest in solving whatever his real problem is. Obviously the market doesn't beleive anything he issues and anyone having followed the stock a little knows that he is hiding something much more significant than what he keeps releasing.
Is he stupid?
Is he dishonest?
Is he stuck with lies of the past he cannot divulge?
What is he trying to do?
He must start to get the message that current shareholders do not beleive him at all and there are no new shareholders out there he can suck in.
Anyone interested in such stocks has seen and heard from VLXC and done minimal DD on it, enough to understand that you do not get close to this stock unless something significant AND CREDIBLE is released showing how true or not what he said up to now is.
Obviously, notwithstanding his releasing of PR's, he hassomthing other than a good PPS motivating him and I suspect that a well paid job is what he cares about.
As for his shareholders and shares, he doesn't care.
I realy wonder how he can control this company 50% of the shares + 1) legally??? He may act as if he did without having this control legally. Could that be amnother reason why he refuses to normalize?
I often mentionned that I cannot answer private messages.
This being said, I intend to keep all my shares for the forseeable future. Veltex is worth something and I beleive current capitalization of between 10 and 15 millions is reasonnable.
I beleive Matin did in 2003, something he cannot reveal openly anymore but my "bet" (remember I play this as a risky speculation, part of my speculative portfolio which is 5% of my total portfolio) is that, one of these days, Matin may make a move which will help him burry forever whatever he did hide and at the same time give him a good price for his own shares ... therefore mine.
If you ever made a bet, you know you generally do not know for sure till the last card is turned.
That's how I look at it...as a bet. I have had some real bad ones and I have had real great ones, I have a few in the works waiting for an outcome. For the moment, VLXC is part of the last group.
However if the company also grows thru acquisitions and shares are used to finance them, having a pps representative of what the business is would seem very important.
On that basis, investing in credible audits and duly reporting would seem basic logic to anyone.
Matin doesn't (cannot) do it.
One must wonder why.
What is hidden? How bad is it? Who owns what?
Assuming Matin not to be totally incompetent (I beleive he is far from being in his domaine) he must understand that as well as anyone.
What hole did he dig for himself in the past so he cannot behave normally anymore?
How will he pull himself out of this hole?
Small shareholders as I are irrelevant but some people, including Matin must be holding lots of shares and they certainly must not be very happy with current PPS. I do not even refer to financial institutions Matin tries to deal with.
I hope they make Matrin's life miserable enough to push him into normalizing the company SOMEHOW ???
However, with the kind of salary Matin pays himself (I heard in excess of $ 750,000 per year) may be he cares much les than one beleives.
"I have seen too much from this guy to believe a word that comes from him."
Unfortunately, most think along this line and that is THE problem. Matin's credibility is down to "0" ... or less if it's possible.
I do not think Matin accepted to go to bed with a stock worth $0.90 ...
Rec. Time Action Price Volume
3:49:24 PM Trade 0.98 100
3:45:24 PM Trade 0.9 5000
I assume that many were still hoping to see some kind of signal from Matin that he was finally prepare to help us figure out who he realy is.
Yesterday PR did nothing to reassure any of us. No allusion at audits, listing on another market, or whatever else could help us figure out what the thruth is.
I do not even know why he bothers issuing press releases which do pissedoff the readers ... not by what they say but what they do not say.
Of two things one:
Matin cannot care less about the PPS, happy to just get paid his 3/4 million dollars per year or
Matin is desperate, stuck with unrevealed actions of his in the past (loss of ownership of Bengladesh) making him unable what he knows he has to do.
I suspect he included Bengladesh financials all along even if those are not appropriate and he now have to find a way out without getting in big problems legally.
Selling or merging (burrying the corpse on the way) are the only outcome I can IMAGINE.
At least he now must know for sure that the market will not follow him anymore.
Let's see what the market will tell him again, when in near future he claims a new acquisition and a few more million O/S used to do it.
$0.91 (total capitalization = $ 9,766,199.10 as of Dec 31 2005)
Mr Matin must start getting the message the market is sending him?
"If you look for a conspiracy everywhere, pretty soon that is all you will ever see."
I do not beleive in conspiracy. I beleive Matin got in trouble in 2003, loss ownership of some operations, never said it openly, kept reporting as if ownership still existed and is now stuck with a lie he cannot admit openly now.
That's why auditors walked away, Investrend walk away, consultants and communication firms walked away and many shareholders did the same.
Matin should face the situation once and for all, sell whatever he owns of the Bengladesh operation (must be something left), take out financials of this asset (should not have been included anyhow) and have the rest of the business duly audited and reported.
Then numbers will be quite smaller, the PPS will not be 10 times bigger but (I hope) will be more than $1.00.
The only other way out is to privatize whatever Veltex is or merge it with another company.
Matin's game is over, nobody beleive his PR's or NR's and he will now have to sh.t or get off the pot.
I beleive he has a business (theredore shares are worth something) but not the one he keeps refering to.
At $1.00 I do not worry to much about this SPECULATION and I have time to wait. Not sure everybody looks at it the same way ???
"Why would veltex put out a PR to drive the stock price up if they are in the market to buy back shares?"
Because the terms and conditions of the deal have already been agrred upon.
"Why after great news in a PR does the stock price only gain a few cents with volume of 5% of the outstanding shares?"
Because Matin has absolutely no credibility in the market anymore. Those having been around for some time know that for whatever reason (that's THE QUESTION) Matin cannot have a credible audit produced. As for "shareholders to be" all have come to look and/or buy following their "discovery of a great deal", to then figure out that there was no way to verify how good or not the deal realy was. How many times do you expect someone to look at the same thing with the same result before he stops looking alltogether?
"Matin has not been buying any shares back"
May be so, may be not. No way for us to know.
"printing and selling more shares"
May be so, may be not. No way for us to know. However if acquisition there effectively is, I would not be surprised to see a larger than 11,000,000 O/S out there, whatever the real number was, is or will be, having no way to check.
"price hardly moved on the news,"
because people do not beleive Matin anymore, whatever he writes.
"After all, he got his masters degree from Asheville University in London England." LOL!
Then he must know that THE ONLY THING TO DO IS TO HAVE A CREDIBLE AUDIT OUT THERE, WHATEVER REALITY IS (including the Bengladesh ownership issue).
Obviously no bad news in what is written. The bad news is that something doesn't appear in the PR (see my previous post).
Unless you enjoy owning shares undervalued by a factor of 10 or expect to buy many shares in the near future, you cannot be happy to be stuck with "great shares" that the market doesn't accept as being great at all.
A capitalization of $ 11,000,000 is quite small and unattractive to "investors".
"He continued by saying "We are very close to finalizing an agreement to acquire a major retail supply company with more than sixteen nationally-recognizable clients. Details will be forthcoming in the very near future and will be released as soon as the agreement is complete"
Sounds to me as a fait-accompli which is kept for a future news release.
To bad that nothing in the PR is mentionned as a plan for him to become credible in the market even if he seems stuck with shares trading at 10% of what they sould be trading at.
If not monday, I would bet wednesday (Matin loves this day of the week ... I almost wrote weak)
For whatever reason, someone didn't want the PPS to be to low for the weekend?
3:55:36 PM Trade 0.98 100
3:54:34 PM Trade 0.88 5000
3:49:44 PM Trade 0.98 100
Wouldn't be surprise to see Matin come out of his hole monday!!!
I hope it's not my imagination screwing someone.
I posted my previous post at 11:58:43.
Then someone bought 5,000 shares at $0.98 (+ $0.13) at 12:35:12.
LOL!
The only possible thing one can try to beleive is that Matin is effectively buying back shares dumped by disillusionned shareholders in view of a unrevealed privatization plan.
Assuming some of what Matin has claimed in term of financials to be true, one would buyback as many share he can get, then announce that someone (obviously close to Matin) offers to buy the company for $.$$/share, then announce that the BOD (whoever that is) accepted the offer.
If the company was effectively profitable, Matin would have built a business with our money the privatize it for as small a price as possible not to be sued.
However, in my case, I beleive nothing anymore, just wait for something good or bad to come out of this bet of mine.
Obviously from the action on this board, most do not know what to say anymore unless they already have sold their shares to enjoy another game. To them I suggest a look at ADVC. I broke the bank on this one and know more profit lies ahead.
Keep having fun with these and invest in serious stocks.
If that was any other of my stocks, I would assume that continuous silence (last PR was on Feb. 21), current PPS and current volume would be a great opportunity for Matin to be gradually buying back the 1,000,000 shares he said he was going to buy back.
However this being Matin ...
We have been and remain in a closed loop!
1- Audit = Forget it
2- Earnings = Soon
3- More business = Probably
4- The issues = Ownership & credibility
5- Solution = Branch to "1"
2 months without a word from Matin. We know he cannot have its current business audited credibly. We know he cannot normalize the company as a publicly held company.
My opinion only: This guy is cooking something and my bet is privatization. Till he is ready with whoever his partner(s) is(are), I assume they are slowly accumulating at current PPS so whatever price they sell/buy at, they will buy/sell to themselves.
We shall see. However I would not hold my breath. At current salary, Matin can wait as long as he wants and still be able to pay his rent ... unles a regulator starts to set fire under his ... behind ...