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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 ...
Just for the fun of it. May this will be the 10,000,000th post.
IF Matin is up to something, it's definitely not the audit and it very likely is not something he would pre-announce in a PR.
If another PR comes out I suspect it will be written as if it was covering a great news again (revenues and profits beating new records) but it will also include one or two sentences which will create some more doubts in the mind of those reading it (ex: Because of a strike at xyz, the shares we were suppose to distribute on March 30th wil come late. We will advise as soon as delivery is being made, bla,bla,bla).
Most people knowing Matin will get pis.ed once again and some will try to dump their few shares.
Some readers (newcomers not knowing Matin and feeling they found the goldmine) will buy and may have the PPS grow to $1.20 or so. Matin may very well compete with them.
Thenn the PPS will fall once more.
I beleive that in the process, Matin and his friends will acquire some more shares.
All of the above support my opinion (that's all it is) that privatization is somewhere in the future.
This being said, Matin would declare BK tomorrow and that would not surprise me either.
At least he came back and did resurect shares which were worth nothing for a couple of years.
Then he got himself in deep trouble with his "synergy" plan of December 2002, apparently lost control of whatever it is he built in Bengladesh and could not normalize thereafter, stuck with lies he could not resolve himself to admit.
Now I suspect he does operate a business (big enough to pay him a high executive salary) but still cannot come out clean as demonstrated in his last PR (what were these options all about ???).
Therefore he is happy to manage this publicly held company as a private one and collect his monthly checks.
I am however told that some of his friends and/or partner are getting mad having been told earlier that their shares were to "soon" be worth 2 or 3 $$$.
I also heard that he cannot borrow anymore (apparently he does try) to acquire new assets unless he can normalize and show a $2.00 PPS.
Disclaimer: All the above is hearsay and may very well not be accurate (to remain polite).
Let's just hope he is not househunting in Bengladesh as he did some years ago ???
Your guess is as good as mine or any other one.
I also have a hard time beleiving that some do trade with this stock. If one wants to trade, there are plenty of better toys to play with out there.
My guess, Matin (and friends) is getting back shares ... He went as far as suggesting a shareholder to sell ... God and Matin himself know why ??? At least we know God is honest but I do not beleive Him to be involved !!! (LOL)
"The dividend is payable on March 30, 2006 to shareholders of record of Veltex at 5:00 p.m. New York Time on February 28, 2006. Additionally, the Board has authorized the repurchase of up to 1,000,000 shares of common stock and 1 million options dependent on market valuations ...".
1- Hard to foresee what impact this will have on the PPS in March and April? However no one should expect not to see a downward pressure on it.
2- If Matin effectively is in a process of buying back shares and intends to do it during these months, ha may get relatively cheap shares in the 90 cents, may be even 80 cents range. However to imagine that, one has to beleive that the above (repurchase of up to 1,000,000 shares of common stock) was serious ...
3- I still have trouble understanding who bought 900,000 (including traders activity) within the last month??
I personnally beleive (I however would not bet on it) that Matin:
1- has a plan (with friends of his) to buyback has many shares as he can,
2- Get rid of as many as possible small shareholders as he can (he recommended to someone, in writing, to sell as current PPS), thereby holding most of O/S,
3- Exercise as many options as he can (wonder how many millions are out there???)
4- then privatize the company by using claimed accumulated cash in the company.
On the other hand, who the heck knows what this guy is up to. May be he is the one who sold recently before he BC's ???
As Matin wrote himself, this is a pinksheet stock, it doesn't report and it should be a toy for those enjoying trading.
Alternatively (my case) it's a toy for someone wanting to BET on a HIGH RISK SPECULATION, with money he can afford to loose.
I personally sit (almost wrote s.it) on my shares and wait for the outcome.
I however had close ones to get out of it (they did much prefer get their money back than loosing it, whatever lies in the future) and would recommend anyone to stay away of it and BET on a reporting company.
As an example, I suggested a friend to sell his 4,000 VLXC ($ 4,150) and (if he wants to bet) buy 8,000,000 shares of ADVC (0.0005) with the plan to sell 4,000,000 of them if PPS doubles.
There may be some 3,200,000,000 O/S of ADVC but bottom line capitalization still is only $1,600,000 for a business which just got thru a serious badlock acquiring a bancrupt business. They however (according to my source) be a few months away from pulling out of their troubles. If so a 0.001 PPS is quite possible.
PLACE YOUR BETS !!!
A gem of a joke!
I wish I had the guts of this girl.
>
>For all of you out there who've had to deal with an irate customer,
>this one is for you.
An award should go to the Air Canada gate agent in Winnipeg for being smart
and funny, while making her point, when confronted with a passenger who
probably deserved to fly as cargo. A crowded Air Canada flight was canceled.
A single agent was re-booking a long line of inconvenienced travelers.
>Suddenly an angry passenger pushed his way to the desk. He slapped his
>ticket on the counter and said "I HAVE to be on this flight and it has to
>be FIRST CLASS." The agent replied,
"I am sorry, sir. I'll be happy to try to help you, but, I've got to help
these folks first, and I'm sure we'll be able to work something out." The
passenger was unimpressed. He asked loudly, so that the passengers behind
him could hear,
"DO YOU HAVE ANY IDEA WHO I AM?"
Without hesitating, the agent smiled and grabbed her public address
microphone, "May I have your attention please," she began, her
>voice heard clearly throughout the terminal. "We have a passenger here at
>Gate 14 WHO DOES NOT KNOW WHO HE IS. If anyone can help him find his
>identity, please come to Gate 14." With the folks behind him in line
>laughing hysterically, the man glared at the Air Canada agent, gritted his
>teeth and swore "F*** You!" Without flinching, she smiled and said,
"I'm sorry sir; you'll have to get in line for that too.
That's another possible explanation ???
"this is a gamble stock"
No doubt about that.
However it is much less of a risk if you happen to be an insider or someone knowing what is realy going on out there.
What I do not understand is recent volumes of 60 or 70 K shares being traded everyday.
It could be a bunch of gambler playing with this toy but I suspect that there are some out there knowing more than we do and they most likely accumulate IF (a big one) something worthwhile is cooking behind the doors.
I still have a hard time beleiving that Matin wrote an email to someone recommending him to sell his shares at $1.20.
Either Matin is an altruistic individual or he is desperately looking for shares. Once more only him knows what he is up to ???
I look forward to what will happen between now and March 30th. I somehow do not expect to see 10% more shares in my account on April 1st (April fool ???).
To whoever ask (private message)
1- If accumulation there is it must be from within close to Matin or Matin himself. Unless you know something general shareholders do not, I see no reason whatsoever to accumulate this stock.I personnally have trouble explaining 2 things right now (among dozens other):
a- Who bought 60,000 shares per day over the las 12 trading days and why?
b- Why did Matin recommend someone to sell at current price when PPS was at $ 1.20?
I wonder if these 2 questions are related, one suggesting the answer to the other?
2- As for the dividend (10% more shares out there if you assume that Matin is not buying back 1,000,000 shares) it represent a dilution but I suspect this has already been accounted for, at least partially. Whenever these shares do come out, it should have a downward pressure on the PPS. How much, depends on how many shares are controlled by Matin and his close one???
Except for some short lived peacks caused by some Matin's PR (not the last one however) our PPS stayed at + or - $1.00 for years and I see no reasons to see that change unless a verifyable event comes to be known by the market.
However, I suspect Matin and his close ones do control most of the O/S as of now (and all the recently found out options we do not know the count of) and whatever happen should generate results that they would profit from somehow.
This is an highly speculative situation and honestly my opinion is just that: an opinion. One can share it or think it's way out. Have your pick!
This answer sounds to me as if Veltex was a one man show.
Hard to beleive this answer is reflecting the behavior of the CEO of a highly profitable $60,000,000 company ???
Either Matin is arriving at the end of his venture (run away with his/our money) or at the beginning of a new one that he has not yet revealed (aimed at getting rid of these bugging shareholders and regulators).
By the way, I do not hold my breath waiting for the dividend (shares). I wouldn't be surprised if Matin found a good reason to explain a delay in delivering them. He after all has a lot of expertise in "explaining" causes of delays ...
"My advice to you is to trade this stock, buy low and sell" high.
That's what Matin himself does suggest!
As I said earlier, I suspect Matin to work toward a new objective. Your hypothesis is as good as any but in my case, I beleive that privetazation could be what Matin and his friends have in mind.
- No news but more than 600,000 shares traded within the last 10 days
- A shareholder I know being told by Matin that he should sell
- No coverage of the recent business show
Obviously Matin did change his objective. Let's just hope that he is not planning as you suggest to jump ship and go away once more ???
Must be hard (unless you have to) to let go of a yearly salary of 3/4 of a million plus whatever else he gets out of his job !!!
Just went to look and it works BAU.
I wonder who suddenly, right after lunch or after he started his day depending where he is, does decide without any recent news (credible or not), to throw in a bet of $18,000 do buy 16,000 shares of Veltex?
12:32:06 PM Trade 1.12 8000
12:32:06 PM Trade 1.14 4700
12:32:06 PM Trade 1.16 3300
One may beleive 3 buyers got the shares of a single seller but I beleive it the other way around ???
Entertaining indeed!
As for the next move of Matin, what I look for is if the shares of the stock dividend will come and when.
Based on experiences with the audits which never came, I would not be surprised if Matin found excuses to "delay" (???) the delivery of these shares after March 30th.
We should figure that one out within the next 2 months !!!
Posted by: Rawnoc
In reply to: None Date:1/14/2006 10:48:00 AM
Post #of 10904
WARNING: read THIS before you invest in VLXC...
http://old.bangladesh.com/forums/showthread.php3?threadid=2516
I suppose that guiding new investors you so much care about to this highly credible site quoting an even more credible source was a demonstration of your objective way of outlining facts ???
"You cannot provide one instance or post where I was incorrect or not objective."
This TACTIC doesn't prove that you are incorrect but may I suggest it says a lot about your objectivity ???
Now again you shall be able to claim that you did not write this article ... just signalled it to poor naive potential investors you try to protect ...
Considering that we have very few facts to look at and a lot of unverifyable claims to read, one can beleive whatever he want (scam included) and find logic out of the numerous PR's issued by Matin.
Let's try another one...,
There are slighly less than 10,000,000 O/S,
Matin and few close ones own a large portion of them
The company is out of its past troubles, has had successes and is even making money,
Future looks very good and few (insiders) do realy see it,
They decided to buyout the company but would like to first have 1,000,000 less shares to buy from strangers.
They quietly buy them from softhands shareholders and traders happy to exit at $1.20 after it's been at $1 most of the time for years.
After a few months, someone (???) makes an offer to buy the company at let's say $1.50 or $2.00 (or whatever) and the BOD (???) accepts the offer.
Again I was told that Matin recommended to someone recently to sell at current price ???
I have as many facts to support this than I have to support a scam scenario or anything in between that I want to beleive.
I wonder what the next card will be?
"I studied the facts objectively"
Facts ... LOL!
Objectively ... LMHO!
"One scam tactic used..."
"One....meaning an example. Wasn't an accusation. Wake up."
Since you did ask about my first language, may be I can about your profession???
Are you a politician?
Ha! Ha! I heard !!!
LOL!
As I said, this is a toy, the board is an entertainment feature coming with it and Matin's PR are great opportunities to discuss perceptions (varying in time), having very few facts to base them on.
As for the PR we are discussing, I even wondered if it wasn't written the way it was so that many would let go of their shares.
Someone told me that Matin would love to see some shares becoming available out there. Give me $2.00 ...
I also wonder who bought/sold 2,000,000 shares (including duplicates) in more than 1,000 individual trades since the PR?
"Is English your second language? (sincere question)"
I tought this was obvious to someone for who, english was the first language.
Yes, when I did join IBM in 1967 I could hardly order a club sandwich in english. IBM gave me a 14 weeks introduction course where I ended up having acquired some english but not much in the DP material I was supposed to learn.
LOL!
Then I shall let you continue to give your highly objective analysis of "FACTS that do not realy exist as such", picking and choosing whatever fits your agenda (whatever that is) in the "CLAIMS made by Matin".
The fact that you once wer PROVEN right, certainly gives you the credibility to guide the market and Veltex current and potential shareholders.
LOL! LOL!
Then I shall let you continue to give your highly objective analysis of "FACTS that do not realy exist as such", picking and choosing whatever fits your agenda (whatever that is) in the "CLAIMS made by Matin".
The fact that you once wer PROVEN right, certainly gives you the credibility to guide the market and Veltex current and potential shareholders.
LOL! LOL!
Half thruths = Full lie
A stock dividend combined with the buyback of an equivalent number of shares is not a dilution even clearer and simpler ... but more honest.
This being said I do not suggest that this is what happen, I just say that this was what was written.
First I did not say I beleived anything anymore (Dividend, number of O/S, buyback, revenue, ...).
Therefore I give everything the same value and do not take one item out of 6 or 7 (dividend = dillution) and start creating a scenario out of it.
Finally, I only try to figure out what Matin as a shareholder is trying to do, based on what HE SAYS.
May be, if I want to imagine a scenario based on nothing he said to the best of my recollection, he is just happy to collect his annual salary (3/4 of $1,000,000 per year I heard) and just tries to survive as long as he can.
However I know as much as you do (may be more ???) but I am honest enough to say that my theories, hyppothesis or scenarios are just that and I never was affirmative that this was a scam or something good.
All I have been affirmative about is that I do not beleive for 1 minute that these shares can be worth $10 to $20 based on a profit per share of $1 + per share.
For me this is a toy and I enjoy the entertainment this board gave me for years.
If you realy want to exchange with many as you, WHO DO KNOW, you should enjoy the RB board I haven't looked at for a year or so but assume to still be as it was when I took it off my favorites.
"Use your head. This isn't an "investment," a "speculation," or even a "gamble."
I say it's an acceptable GAMBLE if your bet is less than $1 per share and you play some money you can spend for the fun of the game. At this point in the game, I already know I do not have a blackjack. One slight difference however, the dealer plays with 2 hidden cards !!! This makes the discussions between the players at the table more interesting.
At blackjack as in here, those not involved and commenting standing behind us PLAYERS realy should find something to do with their lives.
"read how one week they are bragging about rewarding shareholders with a dividend and the next week it becomes a STOCK dividend which is the same thing as a split which isn't a dividend worth squat."
FIRST I DID NOT BELEIVE THAT THIS PR REALY WAS ISSUED TO MAKE SHAREHOLDERS HAPPY.
This being said, concluding from half the facts doesn't make you highly credible. If you look at all the facts (as claimed):
1- The last we heard there were slightly under 10,000,000 O/S.
2- The PR said the "dividend" will be 1 for 10 shares (+ 1,000,000)
3- The PR said 1,000,000 shares will be bought back (- 1,000,000)
Therfore one can expect to own 10% more shares, the total number of shares outstanding remaining the same.
If you want to more credibly bash the stock, you should question the "options" related statement:
"Additionally, the Board has authorized the repurchase of ... 1 million options".
To my knowledge we didn't know that there were options out there and still do not know how many there are ???
By the way,
"I fear however that his expertise is the garment industry and not capital markets or investment chat rooms."
Sources do tell me that Matin has capital markets knowledgeable partners (shareholders) with him nowadays, keeps his lawyers extremely busy and suggested to someone that selling at current PPS may be the right thing to do (???).
FWIW, I cannot name these sources but have good reasons to beleive them.
My theory is that he recently (following the last BOD) decided to do what I "imagine".
He issued a PR saying I intend to buyback shares,
He did not release anything new since Dec 19th (even his typical release claiming success following a business show),
I expect a release to be soon release saying that something not as good as usual is going on,
...
I somehow beleive (what do I know) that the last BOD (whoever was there) saw the major shareholders of the company develop a plan to resolve the issues causing the company not to be able to report normally, therefore having no possibility to come out of the pinksheet market.
Acquisition, merger, privatization most likely became the way out in their mind and I "imagine" that we (small shareholders)now are being bought.
Assuming the results to be good (not necessarely as good as claimed), assuming cash is available and assuming there are effectively less than 10,000,000 shares out there (I do not know what the options do to my theory), buying back as many as 50% (maximum) of the shares still in the hands of small shareholders would mean 5 or 7 million dollars (worst case) even at current PPS or a little more.
Let's see what we will see between now and March 30th (when the dividend will have been paid).
In any case, whatever Matin release, anyone having been around for some time knows that we know nothing and the advanced theory is as good or as bad as any.
The only almost sure facts we know is that somehow the large shareholders must find a way to cash in one of these days, Matin cannot produce an acceptable audit of the financials, the stock cannot be listed on another market.
We can also think that the company is somewhat profitable, is generating cash and doesn't have to issue additional shares anymore.
We finally can beleive that Matin needs financing (institutional) to proceed with additional acquisitions and merging activities and he should have a real hardtime getting access to these funds without normalization.
I suspect that he cannot normalize AS A PUBLICLY HELD COMPANY having done something bad enough when he had trouble a few years ago (the failures of his 2002 synergy plan) not to be able to admit it openly and not be in real trouble with SEC or other watch dogs out there.
Making the company private with few informed partners would let him go around this and that's why I beleive that this COULD BE his plan.
Who knows ???
A theory effectively, just that a theory.
I beleive Matin and his close friends do want to buy back as many shares as they can from small shareholders.
It's obvious that Matin cannot normalize Veltex as a publicly held company and he therefore think he can somehow privatize it.
Even if for reasons we do not know Matin cannot produce real credibly audited financials, I think he now is in a somewhat good financial position, he doesn't need to issue shares to pay the rent anymore and he even have some cash to play with. He therefore doen't need us anymore and my feeling is that he (this includes him and his close ones) can effectively buyback shares... may be even more than he mentionned earlier.
FWIW, I did develop the feeling Matin did something that he cannot repair but survived it but still cannot openly divulge whatever it is.
He therefore must find a way around this (these) issue(s) without having to go public about it.
Getting rid of shareholders is certainly an alternative and I somehow suspect he decided to go down that path.
One thing is for sure. I am not expecting Veltex as we know (???) it to ever become a real reporting company listed on a stock market other than PS.
I therefore plan to exit whenever (if ever) I see my now set PPS target. Let's see if it will come.
Just curious,
Has anyone reading this board bought any VLXC shares since monday this week?
More than 300,000 shares were bought by someone and I very much doubt this to reflect shorts sellers activity ???
30% PPS increase in 3.5 days, out of the blue, suggests someone is running after shares right now.
I wonder (but have a thought) who it is and why he (may be they) buy?
Unless for whatever reason of his, a buyer (accumulating) does chase shares and sellers by slowly increasing the buy bid whenever shares do not come to him as fast as he wants.
This being said, I joy enjoy spending some time away from my report writing. Having had a great winny luncheon, I run the risk of falling asleep on my keyboard if I do not move to something different now and then.
At least it gives you someone to communicate with, everyone else having left the board, may be even the stock
altogether ?
What I find interesting is that the volume of 70,000 shares traded is made of a relatively large number of small transactions (more or less 60 transactions worth + or - $1,600 per transactions).
Hard to beleive, nothing coming out from the company for almost 1 month, that up to 60 new small buyers decided to jump in today?
I feel more likely however (what do I know) that we have up to 60 or so shareholders escaping or reducing their positions at $1.30 thru dumping of small lots of shares.
The question then becomes: "Who is buying all thes shares" ( close to 300,000 just this week)?
Could someone knowing more than us accumulate right now?
Glad I do not need the money speculated herein to pay the rent !!!