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Again, I do not say you misuse the method, I say one can INTERPRET the number whatever way he wants if he doesn't have the whole set of numbers.
Wasn't a theory but an hypothesis as good and as foolish as any at the time.
Veltex Corporation, announced today that it has completed an acquisition of KCA Garment Industries.
I tought (did'nt say know) this had already been bought for cash and shares a long time ago.
Now it says the transactions was "completed". Could it be that new shares (or related proceeds) went there?
Who bought? Initially I tought it was Veltex Mills (100% own by Veltex corp) now it's Veltex corporation buying.
What do we own?
Veltex corp owning Veltex Mills owning KCA?
Veltex corp owning both Veltex Mills and KCA?
Veltex corp owning KCA but not Veltex Mills?
?????
"After the fact, they both either
will have been lucky by saying something that verifies itself (time didn't play it that way for Bush. Let's see if Rawnoc's WMD's (6,000,000 + of them will have been out there).
As I said, AFTER THE FACT, we know.
However, before the fact we do not.
Still to be seen is what are these WMD's realy all about?
Numbers can say whatever one wants to read in it if you do ot have them all.
For the moment at least, whatever the whole set of number is, people do not seem to rush dumping their shares based on the know numbers we have:
Time: 11.49
Volume: 58,292
Price ( $ 2.30 = + $0.20 OR 9.52% )
Obviously people wait for the wheel to stop.
Don't tell me. Nice for you to tell us ???
Uncertainty is the only certain thing with this stock.
Not a chance my friend.
Still trying to find out myself.
Absolutely.
On the otherhand, we are in hypothesis ranges both on future number of O/S's and what is owned.
Number of shares is (obviously) unreliable if projected in the futur.
Own assets is as unreliable based on what we think we may know.
Multiplier is impacting whatever unknowns are described before.
This is a "GAME" not an investment.
And this board allows players to discuss the odds (opinions).
That's all I say.
20/20 insight the credibility of both will come from real credible (i.e. not message board) sources.
Right now it seems that RAW had about the right number of O/S's and Matin had the right number describing the float.
Up to taday, we only had one source (an unreliable one considering it was anonymous) relative to the number of O/S's and we still have only unreliable one (Matin is not credible based on past experience) related to everything else.
If that is what it says and IF we own something generating earnings of $7,000,000 it means that our shares are worth (multiplier of 8 to 10:
($7,000,000/6,67600) X (8 or 10) = $8.40 to $10.50
However, we do not yet know for sure what we own.
Since you insist...
I said all along that you may or not have been or be right.
Message boards are fun but quite a shitty way to assume you do DD reading it.
Till I see the audit (obviously not this week reading the pr), I cannot care less how many shares are out there if I do not know what's behind it.
1/2,500,000 or 1/10,000,000 of close to nothing would be the same.
If we do not own Bingladesh (therefore KCA) or we do is the question I look an answer for.
Second, audited, reported financials will tell us what we divide by how many shares.
Till then, we discuss the sex of the angels ???
Yes I got that also...
"RAW really hopes that the share count stays where it is, that the company is for real, and that it continues to be very profitable so he can buy in..."
As I said to my daughter, If you lie ... be credible.
I do not say RAW is lying but being unknown to me, there is no way for me to know if what he says is the thruth (I do not care how many time he does repeat it) or nt.
This is why, I did spend some time in the past challenging his affirmation saying "may be" and "may be not".
As for the pictures (added to those I saw of the bingladesh plant (I hope it's not close to the sea) it proves that there are offices in CA, there are garments in the offices and there are a plant in Asia.
The issue is that we yet have no way to know thru credible sources what we own (Veltex Mills), what the financials realy are (audit and reporting) and how much sharing we do in whatever Veltex is (O/S).
This morning PR certainly doesn't help and, as for RAW's affirmations, repetitions does not create credibility.
For me, Matin and Raw have the same behavior and do have the same credibility.... RIGHT OR WRONG ???
Here's what is important in this PR (I do ot call it NR):
Veltex Corporation, announced today that it has
completed an acquisition of KCA Garment Industries.
Javeed Matin, CEO of Veltex Corporation, commented, "We are very pleased to consummate this acquisition as KCA Garment Industries This will allow Veltex to be extraordinarily competitive."
"This year KCA will do about $20 million in total sales with $2.2 million in net income."
Finn Walstad, CEO of OTCGrowth.com, stated, " The Company has a current PE of less than two times earnings."
Veltex is currently undergoing its 2003 audit, which the company expects to be completed in the near future.
Great points.
However the use of the word "investment" in this case seems quite inappropriate.
For the moment buying stocks in Veltex is at best a "speculation" even may be a "bet".
If gambling is not your game stay away from any such stocks where normal DD is close to impossible.
"hanging on to this thing for 2+ years"
Granted 2 years not looking at a dormant stock but overall I got my first 500 shares ($0.43/ OLD shares) 5 years ago. Always were part of the + or - 5% of my portfolio I use to bet or speculate on long shots (generally not pinksheet stocks however ... unless they end up there with time).
If patience is a rewarded virtue down here, Heck, I should be rich one of these days.
LOLLL!
More seriously, if the number of O/S went effectively up drastically (factor of 3 let's say) what will be significant (if we ever figure out what this thing is all about) will be to know what the proceeds were used for?
Enjoy yourself...
If you realy want to know what I tought, think, said and would say, go back and reread my old posts (and this time try to understand them).
Have fun.
I do not know if it's "on the way" or not but as for a "major news" ther are not to many possibilities. Either Matin goes belly up or we get the infamous FY2003 audit.
Let's think positive and that you have reliable "sources" (hopefully better than a claimed unnamed voice that you would be the only one to hear)
LOL
O.K.
I had a lot of free time today but enough is enough.
Whatever your reasons, see my post number: 6099
"How about.....a guy who is telling the God-honest truth?"
I already said that this was a possibility.
See my posts numbers 5966 and 5993.
And "For at least the 15th time" we do not even KNOW what you are talking about, what it realy means and where it comes from.
I have no doubt that this is your beleif.
"But, again, for a guy who doesn't care how many shares are outstanding.....you talk about that topic an awful lot."
Find a place where I am affirmative about the number of shares are out there.
Second I do not discuss the number of shares outstanding. I just challenge someone "pretending to know" or "possibly having mislead" or is "lying outright" repeating continuously for 2 weeks the same message, not even trying to qualify what it means ... for whatever reason (misunderstanding or other).
"I have neither recommended anybody buy or sell"
May be not in that many words (I never said you were stupid) but you darn well know what your "continuous repetition of an unverifyable information" is doing (at least you hope so).
On that basis, I do not see much difference between Matin and you.
One is repeating again and again a very positive story. The other one is repeating a very (assumed) negative one.
In both case, no one YET can validate what they realy talk about.
"2 million shares outstanding have 3 times the potential versus 6 million toward the unknown."
Not if you do not know what the proceeds of the additional shares were used for.
Example: When there were 2,000,000 shares assume we effectively had morgaged or borrowed against our presumed ownership of Veltex Mills. Now assuming there are effectively 6,000,000 and Matin got (considering recent market) $ 3.00 value/share) and used it to buy back the debt, thereby getting back the ownership of Veltex Mills (generating the claimed revenues:
At 2,000,000 shares we were owning !/ 2,000,000th of close to nothing.
At 6,000,000 shares we now would owned 1/6,000,000 of something generating a $7,000,000 profit in 2004.
What is better.
This being said everything you said (same for what I say by the way) is pure speculation.
The only thing we KNOW is that: "Matin say Veltex generates a profit of $7,000,000 per year".
Considering his credibility, the fact is we know nothing and your 6,000,000 shares are as meaningless as the 2,000,000 alluded to by Matin in his PR's.
Savvy investors care about both the number of shares outstandind
AND
What's behind it.
Otherwise you realy do not have a clue what your shares are realy worth.
You either understand that and have a personal agenda trying to influence some thru a message board (using half thruth if thruth at all) or you do not, therefore should not even play the market (because that's all it is right now a play).
I only said tha THERE IS A POSSIBILITY that you lie.
I also said there is a possibility that you've been lied to.
I went as far as outlining a scenario which could have justified the number of shares you claim to be outstanding.
This being said:
WHO CARES ?
We do not know (neighter do you) what's behind whatever number of shares are out there.
"It is equally committed to always exceeding ... shareholder value expectations."
HhUUUuuuMMMMMMMmmmmmmmmmm!!!!!!
Oh Ya !
Let's see...
If I understand you right there are 6,176,035 shares issued up to now by Matin.
Point made.
Repeating it over and over again doesn't add to the credibility of your "discovery" but it's getting pretty boring... even more if this is done undersyanding that we do not even know what Veltex is or not.
Hoping you find something else (hopefully supported by as verifyable as possible facts) to discuss ...
We may beleive whatever we want of Matin. Crook, incompetent, honest exec havig cashflow problems, ...
I know for a fact that Matin was in a realy bad cash situation as of Mid October. However, I do not beleive him to be outright stupid.
Then I wonder? Why would he throw away 4,000,000 shares at 50 or 60 cents, just before he issued a PR (Oct 25) which got the PPS right up to $ 3.00 (from close to $1.00 to start with).
False or true, releasing a PR as the one of Oct 25th obviously was allowing him to dump a lot of shares at more than $1.00 and get at the very minimum $1.00/share.
This guy is realy confusing us all and I sincerely have no clue what he is doing between his lies and his actions...
I assume that Matin by increasing the issued shares from 2 to 6 millions, he got money for them (for whatever purpose).
May be he found people to hand him cheques in return for shares exchanged directly off the market. Then, whatever the PPS, these people must have had some reasons to beleive that these were to be worth (whenever they can sell them)something better than the PPS they got.
Alternatively, Matin played the market and the 4,000,000 new shares are in the float (therefore lying in his last PR"s).
Just looked at the volumes since the R/S.
Right after the R/S (2 tradig days) 643,000 shares were traded
Thereafter more or less 50,000 shares per day were traded at PPS under $1.00
Then on October 25th, Veltex Corporation Announced Plans to Become a Fully Reporting Company.
During October 25,26 and 27 trading days 1,372,000 were traded blowing up PPS from $0.90 to $3.10
Since then (October 28th) 3,842 shares were traded and many (I presume) were profit taking by those having low cost shares.
If effectively, over 4,000,000 new shares were issued and traded since the split, it looks to me as if the great majority of traded shares were acquired by some buying new shares issued by Matin.
Even worst if Matin waited after October 25th to dump 4,000,000 shares considering total volume of traded shares since is only 5,200,000.
Of three things one:
- There are effecttively 6 some million shares outstanding but we have no clue what the proceeds were for. Therefore we do not know if it is or not realy significant.
- You effectively talk to someone (for as much as I am concern it could even be Matin playing his game) interested in getting shares at the lowest possible PPS.
- You talk to no one and lie in view of yourself accumulating at low PPS
Whatever the case, unless we have credibly audited financials (let's start by those of FY 2003), normally reported to SEC, VLXC remains a speculative manipulated stock whuich can go right up of right down at the will of traders and MM"s.
I am darn glad not to be stuck with a cost/share of $ 3.00 or so.
Let's see if this does work ???
To view your card:
- visit http://www.bristos.com/index.php?cpn=cpu (you may have to copy/paste it)
- enter (copy/paste) your card ID ( CDCJ842858H3CF6W )
in the card pick up box (showned at the top) after a short wait of 5 seconds to let the pop up go away.
Who cares ... We do not even know is behind whatever number of O/S there are.
At least you seem to know (????) that Matin hasn't issued any share within the last week ???
Thanks.
"Veltex Corporation , announced today that its subsidiaries, Veltex Apparel and Velvet Textile Mills, have completed the acquisition of KCA Garment Industries of Dhaka, Bangladesh in a cash plus stock deal..."
"Under the agreement, the cash portion of the acquisition will come from Velvet Textile Mills and KCA will receive VLVT common stock. Velvet."
No surprise that the cash was coming from Veltex Mills and whatever "stock deal" their was it seems that it involved shares similar to ours.
If so, these shares are now worth the same as ours and the "sellers" (if they still own these shares) are in the same bathtub as we are.
Good point.
I cannot find the PR reporting the purchase of KCA but to my recollection, it was bought with shares from Veltex, whatever is behind them (Veltex Mills or not).
This being said who knows who bought it and if in is part of OUR aseet or not ???
Anne Tahim audit report read:
"We have audited the consolidated balance sheet of Veltex corporation AND SUBSIDIARY ..." She follows writing: "Veltex corporation is the MAJORITY SHAREHOLDER of Veltex textile mills..."
However remember the following disclaimer:
"The financial statements are the responsibility of company's management and WE DID NOT AUDIT the statement of Veltex Texile Mills wich were compiled by other auditors whose report has been furnished to us".
Page 6 of her report Anne Tahim write (note 2, 2nd paragraph):
"For the year ending December 31, 2001, the sales of $8,741,348 all came from Bengladesh operation."
She also wrote:
"Sales for the year ended December 31, 2002 totals $ 13,902,120, of which $ 261,878 is US and 13,640,202 is from Bengladesh operation".
Since the, revenues never work breack down by Matin ???
-
Relative to the ownership question, I do not have access to pre R/S PR's.
Source 1:
Following are abstracts of a business plan released by Matin on December 4, 2002:
Velvet Textile Mills, the manufacturing subsidiary, produces high quality jacquards, ...
...
Veltex manufactures its textiles at its mill subsidiary in Bangladesh
...
Veltex Corporation is a Holding Company that purchases subsidiary companies using cash and Veltex stock. The subsidiary companies are WHOLLY OENED by Veltex Corporation and all revenues accrue to Veltex.
Companies currently owned are:
· Multi Modal Transportation (U.S.A.)
· L.A. Cap (U.S.A.)
· GoVacations (U.S.A.)
· Velvet Textile Mills (Bangladesh)
Source 2: www.otclive.com/vlvt.pdf
In this document dated you can read:
Under title: Veltex Finalizes 20 Truck Purchase - Projected to Bring Almost 1.5 Cents In EPS Next Year Alone (12-5-2002):
"Veltex has a manufacturing facility in Bangladesh..."
Under title: Veltex Corporation Signs Strategic Investment Deal With GoVacations (11-14-2002)
"The Products - Velvet Textile Mills, a wholly owned subsidiary of Veltex"
...
"In 1998, Veltex invested over $7 million in plant and equipment for the manufacturing of high quality
textiles. It was shipped from the US and installed in the Bangladesh facilities."