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Interesting to note that Matin realy had nothing to release since:
"Jul 7 2005 Veltex Announces Successful Due Diligence, Set to Conclude John Daly Acquisition."
Over 1 month telling nothing NEW (the Daly deal was covered in 4 consecutive NR's).
Since then volume remained low (every but 4 days below 60,000 shares traded considering 10,000,000 O/S) and PPS relatively fixed (Highest close at $1.68, Lowest close at $1.50).
Looks like not to many shareholders are dumping for the moment.
I wonder what Matin is cooking behind the scene and what his large shareholders are telling him face to face?
I wonder what Matin is up to nowadays ???
No news for two weeks (significant or not), no word on the illusive audits, we still do not know what we own and the shares are close to not trading at all.
Could it be that Matin finally understands that throwing around news of all kind not having made this company a real reporting one is like pissing in the river?
Could it be that he finally understands that time has come to normalize the company?
I can always dream ... hoping I will not once more wakeup facing a totally different reality.
Not that I presume being smarter but reading:
"Who Should Attend The Money Show
Washingon DC is designed for all investors and traders who want to maximize their profits, manage their risk, and enhance their financial well-being."
I assume Matin as an "investor" in Veltex looks for ways to maximize HIS profit and enhance HIS financial well-being.
May be he intends to succeed at that "trading" the stock ???
"If they want to keep their owners happy they will do just that."
Why is it I have a feeling that Matin cannot care less about the happyness of his owners or shareholders ?
As for cooking the books and not be caught by auditors, I do not beleive Matin to be smart enough to do it. This could very well explain why audits come very late and are meaningless.
I always read you with interest having the currious feeling that you are closer than many to the company and Matin himself ???
If so, I hope you can convince him that time has come (a long time ago even) to make his coming out ... whatever the thruth is all about... unless he has his personnal reasons to enjoy a stock trading at 10% its real value or worst ...
"Our continuing problem is the fact that we are not a reporting company and as such there will be no SEC documents forthcoming. All this means one thing. No one here knows if what we are told is absolutely true. If it is, this stock should be worth between 8 and 12 bucks a share.
Facing a fact here, what we are buying is a gamble."
That's all there is to it. "BLIND faith" is not attracting investors.
Gee, may be I should sell my shares in Velrex and buy some in John Daly ???
"I feel that $1.00 per share on net revenue is actually very good at this time..."
You are darn right ... if it is true.
This would easyly justify a PPS of $10 to $15 if demonstrated thru credible audited and reported financials.
The problem is that Matin obviously cannot have that legally produced ... unless he is completely crazy ... which I doubt very very much.
Even the most stubborn individual ends up figuring it out whenever he is wrong. Some take some time others even longer time.
Assuming Matin doesn't have to obvious a corpse in his closet and he can somehow have it disappear, he will endup producing real audits.
Till then he will get "halfass" audits as in the past.
The answer to your question is: Yes.
If it comes out soon it should be the second type. I do not beleive Matin has yet succeeded in burrying his corpse (The Mill affair).
O.T. Morning joke.
Four friends, who hadn't seen each other in 30 years, reunited at a party.
After several drinks, one of the men had to use the rest room. Those who remained talked about their kids.
The first guy said, "My son is my pride and joy. He started working at a successful company at the bottom of the barrel.
He studied Economics and Business Administration and soon began to climb the corporate ladder and now he's the president of the company. He became so rich that he gave his best friend a top of the line Mercedes for his birthday."
The second guy said, "Damn, that's terrific! My son is also my pride and joy. He started working for a big airline, then went to flight
school to become a pilot . Eventually he became a partner in the company, where he owns the majority of its assets.
He's so rich that he gave his best friend a brand new jet for his birthday."
The third man said: "Well, that's terrific! My son studied in the best universities and became an engineer. Then he started his own
construction company and is now a multimillionaire. He also gave away something very nice and expensive to his best friend for his birthday: A 30,000 square foot mansion."
The three friends congratulated each other just as the fourth returned from the restroom and asked: "What are all the congratulations for?" One of the three said: "We were talking about the pride we feel for the successes of our sons. ..What about your son?"
The fourth man replied: "My son is gay and makes a living dancing as a stripper at a nightclub."
The three friends said: "What a shame...what a disappointment."
The fourth man replied: "No, I'm not ashamed. He's my son and I love him. And he's lucky, too. His birthday just passed and
the other day he received a beautiful 30,000 square foot mansion, a brand new jet and a top of the line Mercedes from his three
boyfriends."
Mike is obviously very popular up here but beleive me John is probably as popular may be even more in certain areas of Canada.
Just before the British Open he was in a Skin game tournament (Mike weir wasn't) with Singh, Nicklaus and a Canadian (oups I forgot the name but it wasn't Weir) and Daly was extremely appreciated by all. He is a star up here.
This being said, I realy do not know what kind of impact this could have on the Veltex effectively unknown business volume. All I know is that it cannot hurt.
Time to spare?
Try this for fun:
http://www.niehs.nih.gov/kids/mindread/psychicSparkle.swf
"It's great because it's 10 years gone and I'm still alive,"
http://sportsillustrated.cnn.com/2005/writers/gary_van_sickle/07/15/john.daly/index.html
To bad for M.Wie! Would have been nice to see her at the Master!
No way I would sell at $1.50.
Matin will issue a new PR after this week show. Somehow I start to beleive that he must start to get the message that issuing PR's not adressing THE ISSUES the shareholders are interested in will keep giving the PPS a small spike ($1.60 - $1.70 is likely next week) to then fall back within the following week.
He may issue another audit (FY2004) but there again, in will take the PPS up (+ or - $2.00) to see it fall again, unless he cleans his act and duly report as real public companies do.
He ended at -3 (cumulative -4).
Interesting to see that old Jack Niklaus is -1 thru 11 (cumulative +2). Hope he also makes the cut.
John Daly is -2 thru 13 (19th after 1 bogey, 3 birdays, 2 of them on par 3's ... interesting). Early but unless he realy falls apart (doubtful) he should have a good tournament.
Yes I did and thanks for the info. Just remember I was first in line in here! LOL!
It depends on what she drinks ?
Even if she din't drink anything, I could still have a beer with her. Whatever the case aren't we dreaming and are there laws to legislate our dreams ? LOL!
She may or not be an American but my vote goes to Michelle lee... Don't ask me why ?
I just want to remind those who send me "private messages" that I enjoy them but cannot reply.
Thanks and (very selfishly) I wish "performance" to all in here.
100% right.
Matin obviously lied in the past (Bengladesh ownership ???) and time has come for him to do a coming out one and for all.
If half what he released over the last 6 months is thru, his morgaging of the Bengladesh assets can rapidly become history.
Unfortunately he doesn't seem ready to become honest and transparent.
Personally (already having been in for 6 year and having tought this to be a total loss up to 2.5 years ago) I lan to sit on my shares and wait for him to behave as a normal CEO would.
Received this e0-mail this morning and tought that someone could get involved related to VLXC and it's businesses in Bengladesh???
"----- Original Message -----
From: "FirstAlert" <editor@firstalertnetwork.net>
To: <editor@firstalertnetwork.net>
Sent: Friday, July 08, 2005 10:06 AM
Subject: SPECIAL CALL FOR VOLUNTEER OVERSIGHT INVESTOR
In response to the expressed interest of the SEC Committee on Smaller Public Companies, Investrend Research is engaged in a project with a consortium of Standards-based research providers to devise and introduce a new Model for the delivery of independent research coverage.
>
If you are a non-affiliated, small investor, owning less than 5% of any equity, or would like to recommend one who would like to enter into a dialogue about becoming an official Overseer for this initiative, please write to contact@investrend.com right away.
>
There may be once-a-year (expenses-paid) travel for meetings associated with this assignment, which would not last more than one or two years for any individual.
>
Investrend looks forward to hearing from you at contact@investrend.com if interested.
>
Thank you.
>
The Editors."
As for any penny stock which doesn't relate to a credible publicly held company at least doing the right thing (audits and SEC reports), VLXC has become (once again) a toy for traders and MM's.
Till Matin decides to behave as a real business manager, leading a publicly held company, No hope to see anything other than speculatively justified fluctuations of the PPS.
Matin is either incompetent or stupid if he didn't yet get that message. I realy wonder if he understand that this is not his private company?
I know it will sound as repetition but CREDIBILITY is the issue. Matin has to earn it back or keep shooting in the emptyness.
Again, if Matin doesn't soon do something to get back some credibility, the expenses related to these PR's is water thrown in the water.
Of particular interest I tought:
1- "overall business plan intended to provide the corporation with ongoing revenue streams, without the traditional business
expenses"
2- and provide diversification from its core businesses of manufacturingn and distribution of branded and generic apparel, while continuing to grow its overall business.
Veltex Announces Successful Due Diligence, Set to Conclude John Daly Acquisition.
July 7, 2005 /PRNewswire via COMTEX/ -- Company to Commence International
Marketing Activities at
British Open Championship.
CITY OF INDUSTRY, Calif., July 7 /PRNewswire-FirstCall/ -- Veltex Corporation
(OTC: VLXC) today announced that it had successfully completed its due diligence
of John Daly Enterprises and anticipated finalizing the acquisition of 50% of
the company within the next few days.
The announcement comes on the eve of The British Open Championship at St Andrews
and the 10-year anniversary of Daly's Open triumph at that course.
Under the agreement Veltex will market the brand and product categories around
the world (excluding USA) and is currently engaged in meaningful discussions
with prospective licensees and distributors. Product Categories include apparel,
footwear, headwear and other golf products.
The strategy of owning and licensing brands (Veltex also recently acquired the
Gidget brand) is part of the overall business plan and is intended to provide
the corporation with ongoing revenue streams, without the traditional business
expenses and provide diversification from its core businesses of manufacturing
and distribution of branded and generic apparel, while continuing to grow its
overall business.
Veltex is rapidly expanding its international reach and is looking for further
synergistic acquisitions and brands to complement its business plan.
Very simply put (I was in this for over 6 years) Matin's behavior up to recently destroyed whatever credibility he may have had. I say up to recently because more recent NR's are somewhat verifyable.
Second, the financials Matin does claim do include those from Bengladesh and we have good reasons to beleive that, contrary to what Matin said for years, we do not own this business, at least not 100% of it.
We now can expect,beleive or hope that recent moves in North America have created some business East of the Pacific and therefore are justified to beleive that the $261,000 revenue of 2002 and almost no revenue in 2003, started to grow in 2004 (we still hope we will soon see an audit for 2004 proving it) and it looks as if 2005 could show serious progress.
The "trading at 1x earnings" is explain by this IMHO. "Earnings" is the key in here and till we have serious audits, covering all countries and audited financials get duly reported, CREDIBILITY is the issue.
Sorry I tought you guys were using these letters also (Remember I am french speaking english being a second language to me).
To mo this is now water under the bridge. This being said, to my recollection, what you say is right but I think the reason she separated herself from Matin is that she got mad when she found out that the ownership of the Bengladesh business wasn't what she tought it was. At least that's what sources tell me (including sources close to Anne Tahim).
BAU = Business as usual. If most of what was recently announced is almost true I think Matin is setting up for progress in North America and a capitalization of $15,500,000 or so can probably be easyly justified.
I was away all day and I see we did close at $1.55. If Matin still has a bullet (PR) to shoot, I expect him to shoot it very soon.
As for Veltex Explorer, the John Daly common partner is not as significant to me as the fact that we now are related to 2 manufacturing facilities in Bengladesh. That's what I realy look forward to understand within the next months.
I also bought back shares I previously sold at $3.60 and $1.93 over the last few months getting back to the position I always wanted to be at (having thru these trades reduced my unit cost even more).
I wonder what Matin is now up to ???
- May 16 2005 (stock open at $1.08 closes at $1.27) Veltex Corporation Announces Record Sales and Profit for First Quarter 2005
- May 18 2005 (stock open at $1.18 closes at $1.15) Veltex Corporation Announces Successful Week of Trade Shows in Florida. A Solid Week of Five Shows in Five Different Cities. Resulting in Over 1,000 New Prospective Customer Contacts
- May 31 2005 (stock open at $1.29 closes at $1.24) Veltex Signs Letter of Intent to Acquire Promotional Products Division of 30 Plus Year Manufacturing Company
- Jun 2 2005 (stock open at $1.27 closes at $1.225) Veltex Signs Letter of Intent to Acquire One of Canada's Largest Promotional Products Company
- Jun 8 2005 (stock open at $1.309 closes at $1.57) Veltex Finalizes Major Canadian Acquisition
- Jun 14 2005 (stock open at $1.82 closes at $2.02) Veltex Enters Golf Apparel and Accessories Industry - Major Global Expansion Planned
- Jun 16 2005 (stock open at $2.40 closes at $2.45) Veltex Signs Letter of Intent to Acquire 50% of John Daly Enterprises
- Jun 20 2005 (stock open at $2.27 closes at $2.14) Veltex Acquires Marketing Rights to Top-Flite Golf Products in Canada
- Jun 29 2005 (stock open at $1.74 closes at $1.70) Veltex Corporation Announces Explorer June Sales to Exceed Budget Company Set to Unveil New Fall Collection in Canada
July 5th close was $1.64
10 releases (many presumably very significant) within 1.5 months and the PPS has been slipping from $2.45 on June 16 to 1.64.
I wonder if Matin finally figured out that producing the promissed audits and their follow up is the only way for him to secure a PPS based on credible fundamentals?
If it's BAU, we shall see another NR (PR) within days (very few).
Just got in (just 2500 shares) this speculative stock at the recommendation of someone close to (but paid by) company.
I personally like the sector, own stocks in many companies in it and think this could be (???) a nice gamble at $0.57.
A lot did happen within the last few months and this could be the beginning of something ... Who Knows
- May 17 2005 Raptor Networks Technology, Inc. Wins Reviewboard Magazine's Best Switching Solution of 2005
- Jun 22 2005 Tom Wittenschlaeger, Raptor Networks Technology CEO, Describes Study Showing Company's Switches Are Faster, Less Expensive, Better Than Competition in WorldTalk Radio.com Interview
- Jun 30 2005 Raptor Networks Technology, Inc. Successfully Completes First Operational Replacement of Traditional Core Switch Environment
- 6:00 AM tel(x) Selects Raptor Networks' Distributed Network Switch Architecture as the Latest Technology Featured at its tel(x) New York Interconnection Facility Raptor Networks is the Latest Member of The tel(x) Technology Showcase(sm)
Not a trader I speculated a few dollars having a "long" (2 to 3 years) view.
For sure, if thruth is anything close to what Matin claims, close one must accumulate like crazy at current price.
Since 12 months, we went from 2,000,000 to 10,000,000 O/S. I wonder how Matin did manage to keep full control of the company if he effectively did ???
"Only fools believe that VLXC is worth 5-10 times what the market is."
I didn't say that ... you did.
It's Matin who just repeated that profit/share is in excess of $1 per share (i.e. assuming a 10-12 multiplier would mean $10-$12 per share).
I personally do not beleive Matin to be a fool. As I said earlier I beleive it's a man who has to live with past lies and try to get out of it without having to say it directly (I beleive he will sell (or somehow liquidate) his remaining ownership in Bengladesh within a larger scheme wich will include (read hide) the fact he doesn't own it all anymore).