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Obviously Matin's credibility is lower than ever. A PPS less than 1 time the claimed yearly profit ???
May be one of these days he will decide that a clean "coming out" is better than his current hiding.
Better a proven story (even if it's just not bad) that people beleives in than a great one no one can buy.
Again, I am soory but I am not allowed to answer private messages on investorshub.
My e-mail address is included in my profile.
Take care now so you stay out LOL
Growth and Value has apparently been taken out of jail.
Are you there?
Since there is not much to talk about here in, you may enjoy reading this.
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2003/11/09/MNGO92TRV71.DTL
I certainly will not contradict you. I beleive Matin effectively lied all the way thru his tough times, hiding his problems like a kid scared to be cought after he did something wrong, hoping time will help him resolve the issues he had to lie about before he gets caught.
How can you trust him thereafter? You do not. You just wait to see if he can come out of his mess or walk away from him once and for all.
Obviously Matin went thru real disastrous times but survived loosing previously owned assets and issuing shares. The question is now: "Can he make it from here on and how fast?"
If he doesn't he will go Bancrupt and all will be pissed but those having forecasted it (knowing as much as any, i.e. nothing).
If he does, he will have to do his coming out, outline the current state of the business (not necessarely explaining how he ended up with this specific end result) and grow from there. Then shareholders may have a normal investment (doesn't take much fundamentally to justify a $ 10,000,000 capitalization) and normal expectations (end of the dream for those seeing fortunes coming out of that short term).
Who knows ... but Matin himself?
JMHO but having been in marketing most of my life, I certainly know how expensive this can be. IF you beleive Matin, he recently did hire a bunch of sales people (immediate disbursment) who hopefully will generate sales (future cashflow).
Knowing no sales were made in US up to January 1, 2004, not having been advised of specific significant sales in 2004 and having presumably closed about $2,000,000 sales recently, one can certainly assume that Matin is cashflow hungry right now and could still be for the next few months.
That's why I tend to beleive that recently issued shared were effectively dillutive, the proceeds being probably used to pay current expenses.
If my HYPOTHESIS is right, we may see further relatively small dillution till revenues start flowing in.
That obviously, if recent press releases are true (I tend to beleive them considering they included customer's statements... but who knows?)
Full time January 5th to July 1st. Nothing yet thereafter but I realy enjoy being back to work (fun to be able to choose and pick).
I intend to do it full time ... part of the time ...LOL
"If he could post and remainn within the TOU agreeement he would be welcome back here..."
PLEASE! NNNNNNOOOOOOOOOOOOoooooooooo!
"When they bought the semi trucks they disclosed in the press release that they used cash and colateral of Velvet Textile Mills to make the purchase."
Did not recollect that.
"As long as they can get items from the Bangladesh factories at cheap prices and sell them in the U.S. at a good profit then that's fine with me!"
Same here. Personally I discounted the Bengladesh asset months ago, hope we still get supply from them and look forward to see if the US business justifies (fundamentals) a $1 PPS.
"any positive development" above that (if confirmed) would make this stock quite interesting.
Not realy in contact with Shrotker being away from home and consulting full time.
In any case, I know that he is fully aware of what 2003 audit is and is not and I assume he discuss that with Matin if he has the opportunity.
"Since the assets of Velvet Textile Mills were used as collateral to buy the semi trucks in 2003, I can only speculate that this could be a reason why the auditor declared a lack of absolute control."
As I often said, a source of mine had alluded to this and mentionned that effrectively, Matin had lost control of this asset (with right to buy it back). However I wasn't able to confirm it up to now.
I may have missed something but where did you get this information.
"Hey, I hope I'm wrong and Matin is just really bizarre and VLXC conquers the world"
Even Matin could not make that big a lie ... LOL
That is the way I look at it also.
Looking forward to see the audit related to FY2004 american operation.
Then may be the company will start releasing quaterly reports (separating USA from Bengladesh).
At the risk of being accused to push this stock, here is my opinion.
As mentionned before I look at this as a stock of a starting up business (better late than never) and I discount the Bengladesh operation because I realy do not know what is realy going on out there and what ownership we have or not in this asset, whatever it is.
Having been myself involved in a startup in my previous life, I know that take off is not an easy operation and initial results are coming in slower than dreamed of.
The way I look at recent developments (PR announcing contracts and quoting customers) is that take off has happenned and we have reasons to beleive (business shows potential fallouts) that accelaration may very well be right out there since the company seems to now have proven they can close (significant) orders.
Still quite a speculative situation but capotaliztion of $7,500,000 doesn't require much to be justified (fundamentals).
Then, from this assumed relatively conservative view, one can "dream" that something interesting is going on in Bengladesh and we own part of (???) whatever that is.
Check this out folks… Google now has maps, like Mapquest and Yahoo, but this one is significantly better.
Once at the attached link, simply type in your address, I put in my street name and it came up with a map right away. The nice thing is that the map is draggable, which others aren't. But here's the real kicker…..In the upper right hand corner of the page, is a link called satellite. Click on it and you'll get a satellite image of the address. Move the slider all the way to the top (towards the +), and you'll get a more close up view. And just like the map….the picture is draggable as well. Maybe I can click on your address and see what you are doing??????
http://maps.google.com/
"U.S. Securities and Exchange Commission Regulation 17(b)"
Securities Exchange Act of 1934
Section 17B -- Automated Quotation Systems for Penny Stocks
Findings: The Congress finds that:
-the market for penny stocks suffers from a lack of reliable and accurate quotation and last sale information available to investors and regulators;
-it is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets to improve significantly the information available to brokers, dealers, investors, and regulators with respect to quotations for and transactions in penny stocks; and
-a fully implemented automated quotation system for penny stocks would meet the information needs of investors and market participants and would add visibility and regulatory and surveillance data to that market.
Beleive whatever you want but you are 100% wrong. No more comments.
Notwitstanding the desire of Shrotker for me not to debate these issues, I must say:
1- Yes
2- Yes
3- Ihub did not boot him from Ihub
End of discussion for me.
RAW, I changed my mind ... Keep posting:
10:05:10 AM Trade 1.1 500
9:32:18 AM Trade 1.06 2300
9:32:12 AM Trade 1.05 4500
LOL
"One has to not value his money very much to stay in a stock knowing it's rise was due purely to paid junk fax hype scam."
Let me put it another way:
One has to not value his time very much to stay on a board discussing a stock knowing it's rise was due purely to paid junk fax hype scam.
Better luck with another stock you try to trade with ... LOL!
Frustrating, no?
LOL
I do not disagree with you. All I say is I do not realy know anything other than what I heard from personnal sources and what was written by auditors.
I therefore look at what I think I know but in no way do I infer that we own no part of the Mills or KCA.
Worst case: We only own Veltex USA (audited up to 2003)
Possibility: As you said, we also own KCA (additionnally we still do not know what the recently issued 5,000,000 shares were used for)
Best case: We own Veltex USA, KCA, the Mills and whatever may have been acquired thru the 5,000,000 shares.
Looking at worst case only, and assuming a capitalisation of less than $10,000,000, my point is that it wouldn't take much to justify it in 2005 (less than $1,000,000 profit would be required).
This to me is the conservative base from witch I decided to keep my shares recently and the position from which I can afford to keep speculating that there may be much more than this base.
I do not recall if he said that or not.
Personally, I do not know and I discount this situation (Bengladesh's facilities) looking at Veltex, because I never got a reason why Matin did try to issue new shares at the last BOD to buy the "remaining part" of the Mills.
As I said some months ago, a source told me that Matin would have owned that at a certain point in time but lost control of it "morgaging???" it, trying to get capital he used to startup his american operation (we now know that was very costly).
I do not say (I do not know) that we own it all, part of it or not at all, I just say that I do not consider it (worst case) looking at Veltex... for the moment at least.
"the 8 million reality only cuts everybody's target prices by 75% vs. the 2 million fantasy"
Except that facts we now know says that when there were 2,000,000 O/S there was no revenues whatsoever (Fy2003)i.e. nothing worth something was behind the 2,000,000 shares.
Let's see what revenues/profits are currently (will have to wait for more current audits) to see what is behind the 8,000,000 current O/S. That I do not know and neighter do you.
There are 2 Veltex in miy mind. The one Matin talks about (he includes the out of country operations). Personally, considering his trial at "buying it last August) I discard this version of the story ... till proven wrong ... if ever.
The other story is the one audited by the auditors (FY2003) centering on the USA operation. I consider this to be the financials of a brand new startup (no revenues) and look forward to the audit of FY2004 to figure out if this startup was then heading in the right direction. If so, we then could expect FY2005 results (USA only) to justify the current capitalization of less than $ 10,000,000.
The story I do not beleive in however is one which wants Veltex (Matin) to only be a scam. I think Matin made gross errors, dreamed awaken and hit a wall in 2003 timeframe. He then could have fold but fought back trying to recuperate whatever he could. I personnally beleive that he is now bad on a track which COULD BE successful.
As for the Bengladesh story, of 2 things 1:
1- USA will become a normalized marketing/distribution relatively small but growing company. Then the Bengladesh story will come to light at some point in time.
2- USA will not succeed (many startup do not) and then Veltex will become history and we will never know what the Bengladesh story was all about.
Speculating on a startup presents high risk with potential high reward ... long term.
Looking at Veltex any other way is either non realistic or part of a trading strategy one try to support by being affirmative on facts he doesn't know about or lie about.
Only the opinion of someone who doesn't trade but invest (95%) of his portfolio and does speculate a little with long term view (5% of his portfolio).
"we are in the dark. 2004 audit must be done."
100% in agreement. However I suspect we still will only have audited numbers related to the U.S. operation, the Bengladesh's situation still as it was few months ago (i.e. not understood clearly enough for auditors to report it as such).
I hope we will see progress in FY2004 (not very high expectation considering there was no revenues in FY2003) and we will be able to see that the U.S. operation was then moving ahead.
Till the as you say we will remain in the dark.
No it's Bush .... LOL
You're the one who compared Bush to Saddam ... not me ... LOL (at least we can have a laugh).
By the way, your posting has not help yet getting the PPS to the level you want it before you start to discover positives which would justify a new view of this, after you have loaded up naturally.
May be you should load up now and find out about positives trying to have an opportunity to sell with a profit. Trading must be fun,,,
"Am I being unreasonable?"
I do not know about the specifics of your calculation but as I said before that's the way I want to look at it also ... let's create a growing profitable Marketing/Distribution Veltex is USA THEN start worrying about the out of country, hard to check and understand situation.
Let's look at Veltex as an American startup. After all, capitalization is not even $8,000,000.
Sorry, I read your answer after I wrote my previous message. We however had the same tought reading this post.
"What kind of "Great and Good" man lies ..."
"People in the real world in public service get FIRED over lying"
"should be fired for such a blatant violation of public trust."
Obviously you did not vote to re-elect Bush ??? LOL!!!
In respect to his request I will not comment. However there is no "If".
1- Very simply because he sold all his shares (as he said) and wants to buy back in at low price. Supporting his strategy, he tries to scare soft hands away ... for the moment.
2- If the price dips low enough (for him to buy), do not be surprised if Raw finds a priviledge information (positive) that he will be more than happy to share with all... Till he said again and finds out that Matin is just running a scam.
3- Veltex has normalized the company?
3-a - Raw departs
3-b - Raw branches to 1 above.
KIROV
Shrotker sent me an e-mail and made two comments following exchanges herein related to his last post.
First he ask me to remind you that he never said that he met Matin and ever been to Veltex.
Second, and I already had decided to do so, he suggested that I was loosing my time trying to get Raw to understand what realy happened in his case (the guy is stubborn and only beleive his own posts ... this is from me). As he suggested, agreeing with him, I will not discuss shrotker's case herein from now on.
Glad you made out OK recently trading it. This is not my game but I respect those "playing" it.
As I said earlier, VLXC to me is absolutely not an investment but just a speculation or a bet. The difference recently is that where I earlier tought it was all or nothing, now I beleive it could be more than nothing but less than all, at least for the next 12 to 18 months. I have a better hand but do not yet know what's accross the table ... yet.
I also mentionned, considering the above that I would consider (far from decided) averaging down IF the PPS was to touch $0.50. However, if I was betting 1 to 2 thousands $$$ doing it, I would look forward to sell these new shares at $1.00 if the occasion was offered thereafter.
1- He effectively live in the New york area
2- He also has relatives down sought
Who tells you that at the time he wasn't visiting down there?
Kepp posting your crap. I am sure you will impress a lot of posters herein by proving yourself wrong all the time ... but once (luck sometime ...)
"the pump gang"
Unless one claim this to be a scam, a share printing outfit or anything else totally negative, you class his as being a pumper.
Read my past post and you will see I neighter pump or bash this stock, I often mention I know nothing for sure about it but beleive that it is neighter the gold mine expected by some nor the POS claimed by other, IN MY OPINION.
I haven't look thru a window assuming I saw it all but did a lot of DD, got some info and beleive there is something other than a scam out there and it was unfortunately ledd into lots of problems by some incompetence and inexperience.
If this was pumping for you then YOU have a real prioblem (or a strategy of yours that you hide trying to misleed those not as aware as many in here.
In any case, why don't you sell your shares (if you have some) and why to you keep discussing something you KNOW is just a scam.
You must have quite a borring life...
Setting aside your acceess to the o/S numbers, if your affirmation related to shrotker are titycal of your other statements, then this is all pure BS.
I know for a fact that the outright honest post of shrotker were 100% accurate and your "expert (???)" analysis of his situation is way off what the facts realy are.
That you are suspicious is absolutely normal (As I said when you came on with your finding, this is anonymous and being suspicious is the only way to behave) but you being so sure of your "discovery ???" and claiming it constantly is just demonstrating a lack of selfcontrol commonly found in teenagers or even worse ...
"Posted by: Rawnoc
In reply to: Rawnoc who wrote msg# 9372"
I see you followed my advice and now read and answer your own post. Keep on doing it and you will also get realy bored with them.
LOL