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This is the only valid question right now.
The audit (a credible one confirming past released financials) is released on time ... there we go, the sky being the limit.
For any reasons in doesn't, then there we go (down) once more.
Let's hope past is not an indication of what lies ahead.
Note: I hope the audit (if released) clear the ownership of Veltex Mills and the number of O/S out there also.
I may be wrong but I think some are accumulating and doing it in interesting volumes:
10:12:50 AM Trade 2.95 1000
10:12:46 AM Trade 2.95 4000
10:12:44 AM Trade 3.00 5000
If this happen to be a unique buyer, he put up $ 30,000 to acquire 10,000 shares of a Pinksheet, unaudited, unreporting company.
Even throwing in $ 15,000 for 5000 shares of such a speculative stock seems important (to me at least). I wonder if this is gambling or DD based "investment".
Whatever the case, there is only one thing I am sure of ... Before the end of the month, we will have quite a surprise. What I am fare from being sure of however is if it will be a very nice or a very ugly surprise ???
My (short) wish list:
1- A credible set of audited financials (2003) will be released by November 25th.
2- Matin will accept to tell us how many O/S are out ther.
The game is becoming somewhat more serious:
2:32:18 PM Trade 3.04 2000
2:26:26 PM Trade 3.04 2500
2:26:10 PM Trade 3.04 2560
6 to $8,000 a pop (if this is not a single buyer throwing in $ 20,000 + all by himself) is enough to make someone quite pissed if this is another of Matin's gimmick ...
Let's hope this (these) buyer(s) know(s) something we do not ???
I have a practice not to trade in and out (even with my speculative stocks) but I soon may do smething I am not used to ...
Of 2 things one:
1- Matin is scewing us all and new shareholders
OR
2- Something serious is going on and some do know about it.
Had I not been burned so often in the past, I probably would assume the second possibility.
However, I have been let down so often by Matin in the past that I prefer to manage my level of expectations (at least till the end of the month.
Now I DO HOLD MY BREATH !!!
Wouldn't be nice to know.
Last week (5 days) 1,684,700 shares were traded (open $0.75, High $3.10, Close 2.05)
This week (4 days) 227,600 shares (open $2.55, high $2.55, close $2.15)
We can conclude that a lot of shares have been traded multiple times but we now have a lot of shares out there owned at costs in the $2.50 range.
Who bought them? JMHO but I suspect some did accumulate large amounts of shares, knowing more than we do and as often said herein, I think this process started some weeks ago.
I also assume that many did sold their shares bought in the under $1.00 range taking a profit and walking away.
However this is only an opinion and a much more negative one (Matin dumping shares in the hands of naive new shareholders attracted by recent NR's.
One thing is for sure. Before the end of 2004, some will have regrets. May be those who did dump their low cost shares (but a profit is a profit) or may be those who bought up to $3.00/share (If Matin doesn't deliver by the end of the month).
My main reason to worry is the still unexplained attempt to issue millions of shares to buy something we supposedly own. This one realy bothers me.
I also sent the text of the Tax treaty to a lawyer and fiscalist, probably understanding what it means better than I.
If he has time to look into it and answers my questions, I will post his answers herein.
However I realy wonder what the move Matin did try to make at the last BOD realy meant.
No jumping up and down here. You noted I keep refering to this trial of Matin to acquire something we presumably owned all the time ???
As I said, he certainly doesn't try to keep a low profile:
Veltex Corporation Attending International Hotel, Motel, & Restaurant Show in NYC
CITY OF INDUSTRY, Calif., Nov 4, 2004 /PRNewswire-FirstCall via COMTEX/ --
Veltex Corporation (Pink Sheets: VLXC), a vertical manufacturing, import and
distribution company in the apparel industry that is headquartered with sales
and marketing offices in City of Industry, CA, and with its factories in
Bangladesh, announced today that it is exhibiting at The International Hotel,
Motel, & Restaurant Show in New York City. The trade show will be held at the
Jacob Javits Center from November 14 - 16, 2004 and Veltex will be at booth
#1320.
The International Hotel, Motel, & Restaurant show expects to have in excess of
50,000 trade show attendees.
Veltex plans to launch a major introduction into the "Corporate Identity
Wearable Business." Veltex plans to showcase its custom manufacturing apparel
capabilities to the multi-national corporations in attendance at the show.
Additionally, the Company plans to offer all fellow exhibitors an opportunity to
learn more about the Company's corporate casual apparel program capabilities.
Javeed Matin, CEO states, "The International Hotel, Motel, & Restaurant Show is
the second largest trade show that Veltex attends, only the NRA Show in Chicago
is larger. Trade shows are an excellent way to meet our clients one on one and
are vital to our business. We will be increasing the number of shows we attend
going forward."
Veltex Corporation is a vertical manufacturing, import and distribution company
composed of three divisions: Veltex Apparel, specializing in caps, apparel and
apparel accessories for the Promotional Products Industry and distribution of
merchandise; Velvet Textile Mills, specializing in the manufacture of high
quality fabrics including velvets, 100% cotton twill, denim, sheeting for
consumer and industrial products; and KCA Garment Industries, specializing in
the manufacture of garments.
That's a fast summary of what I was trying to say in my previous post.
It would be interesting to have an interpretation of this from someone (unfortunately I am not qualified) able to explain us what impact this may have or not on us.
At the end of 2002 (Anne Tahim disclaimed report) it was said that the Bingladesh operation (I however still do not know what we own or not) had the following on its balanc sheet:
Retained earnings - Unrestricted: $4,181,981
Retained earnings -Restricted for tax holiday: $1,859,128
Other comprehensive incomes: $395,694
Applicable taxes should already have been paid in Bengladesh before these were defined.
Assuming ownership (partial or complete seems qualifying for this new agreement) could Matin have access to these funds (now presumably very much more important) to be used in US without additional taxes?
Knowing the Matin's efforts to get to new capital, does that open some kind of opportunities he didn't have up to now?
Could that + possible negociations with serious investors be the reasons behind the recent Matin's decision to finally accept to invest in an audit (assuming this to be the thruth)?
For sure Matin doesn't try to hide from legislators and keeps quite a high profile for someone presumably (according to some) only conducting a scam.
A lot is going on around the company according to what we are said and now in regulations potentially having a serious positive impact on its financing.
May be (just may be) something significant justifies current PPS after all.
We shall see.
You bet !
Anyhow, our economies, cultures (except may be in Québec) and interests are so close.
Additionally, our voting system is so simple and rapid (we do not have to vote on more than one isuue: the local candidate)that you will be extremely trilled to vote after a 30 minutes wait, if you even have to, whatever booth you go at.
Had Canadians be able to vote yesterday the 3,500,000 advantage of Republicans would not only have been eliminated but completely reversed.
As for your impact on our election, it certainly would help us sort out our own mess. We also have our problems, do not worry. We also have a regionally divided country and multiple parties. The problem is that the Liberal party (minority government actually) is elected in Ontario, Conservatives own the West, Parti Québécois owns Québec and Democratic party get elected out East.
As you can see your split (coasts vs central US) is relatively simple.
Anyhow, it seems that wherever we are we control this process as well as we do Veltex (After all this is the Veltex related Message board).
Or was it BUSHIT?
Ar least this time he is what Americans wanted (Senate, Congress, Governors, total votes, ...) Republicans had a clear win.
To bad people from other countries had nothing to say.
Congrats to those having won !
I would love to.
Just for fun let's try to see if we can foresee the result (long shots if there ever was one).
My view:
The one who takes Iowa (7 electors) TONIGHT will be seen as the winner by 6 electors (272 -266).
Iowa would then become the "2004- Florida 2000 case".
Personally I see (HHHHHUUUUMMMM!!!) Kerry as the next president ... or is that wishfull thinking ???
VOTE ONE WAY OR THE OTHER BUT VOTE!
Not realy I only was on Marijuana at the time.
This being said, 13 minutes after my second post, at 12:50 AM, someone (probably under influence) felt necessary to issue the following release:
Veltex Publishes Research Report Compensation
Nov 2, 2004 (financialwire.net via COMTEX) -- (FinancialWire) Veltex Corporation (OTC: VLXC) issued a press release Monday that contained the compensation for the Research Report that was not contained on the original press release.
...
Source (FreeRealTime.com)
At 10.04 on monday also, another party felt required to post some kind of CYA release (gracefully called Disclaimer) under the name of Veltex.
I wonder who made these people suddenly nervous.
From the previous message I made, many, many companies are named but Veltex wasn't included. Still both organisation felt important to post these in the "news section" under VELTEX.
Veltex Research Report Disclaimer
LOS ANGELES, Nov 01, 2004 (PRIMEZONE via COMTEX) -- Veltex Corporation (Pink
Sheets:VLXC) Research report disclaimer, also at the bottom of the research
report, issued Friday, October 29, 2004:
IPOdesktop (ID) SAFE HARBOR STATEMENT: Statements contained in this document,
including those pertaining to estimates and related plans, potential mergers and
acquisitions, estimates, growth, establishing new markets, expansion into new
markets and related plans other than statements of historical fact, are
forward-looking statements subject to a number of uncertainties that could cause
actual results to differ materially from statements made. ID provides no
assurance as to the subject company's plans or ability to effect any planned
and/or proposed actions. ID has no first-hand knowledge of management and
therefore cannot comment on its capabilities, intent, resources, nor experience
and makes no attempt to do so. Statistical information, dollar amounts, and
market size data was provided by the subject company or its agent and related
sources believed by ID to be reliable, but ID provides no assurance, and none is
given, as to the accuracy and completeness of this information.
DISCLAIMER: The information, opinions and analysis contained herein are based on
sources believed to be reliable but no representation, expressed or implied, is
made as to its accuracy, completeness or correctness. Past performance is no
guarantee of future results. This report and audio interview is a paid
advertisement and is for information purposes only and should not be used as the
basis for any investment decision. ID has been compensated one thousand five
hundred dollars from the company for preparation and posting of this report,
radio interview, and other advertising services. This constitutes a conflict of
interest as to ID's ability to remain objective in its communication regarding
the subject company. Analysts, principals, associates and employees of ID do not
own or trade equities under coverage. For detailed disclosure as required by
Rule 17b of the Securities Act of 1933/1934 contact IPOdesktop, 11693 San
Vicente Blvd., No. 350, Los Angeles, CA 90049. ID is not an investment advisor
and this report is not investment advice. This information is neither a
solicitation to buy nor an offer to sell securities but is a paid advertisement.
Information contained herein contains forward-looking statements and is subject
to significant risks and uncertainties, which will affect the results. The
opinions contained herein reflect our current judgment and are subject to change
without notice. We encourage our readers to invest carefully and read the
investor information available at the web sites of the U.S. Securities and
Exchange Commission (SEC) at http://www.sec.gov and the National Association of
Securities Dealers (NASD) at http://www.nasd.com. The NASD has published
information on how to invest carefully at its web site. Readers can review all
public filings by companies at the SEC's EDGAR page.
SOURCE: Veltex Corporation
By Staff
CONTACT: Veltex Corporation
Dan Seifer
248-321-0121
Email: DSEIF2@aol.com
(C) 2004 PRIMEZONE, All rights reserved.
INDUSTRY KEYWORD: Manufacturing (misc)
I had not seen this release posted today November 1 on FreeReal Time at 12.57 AM. I do not realy understand why this is posted within the "news section" related to Veltex at this time.
May be I missed something ???
Veltex Research Report Issued But What About Compensation?
Nov 1, 2004 (financialwire.net via COMTEX) -- (FinancialWire) A Veltex Corporation (OTC: VLXC) Research Report is available from IPOdesktop.com, according to an announcement this past week.
IPOdesktop.com said its editors are quoted by Dow Jones' (NYSE: DJ) Wall Street Journal and Dow Jones Newswires, Viacom's (NYSE: VIAb) and MarketWatch's (NASDAQ: MKTW) CBS MarketWatch, Reuters and USA Today.
What the press announcement didn't do was to disclose any compensation, as needed for transparency as well as to meet the requirements of the U.S. Securities and Exchange Commission. The report itself also did not disclose its author or the credentials of the author as required by almost all organizations publishing research standards and ethics.
The U.S. Securities and Exchange Commission Regulation 17(b) states:
"It shall be unlawful for any person, by the use of any means or instruments of transportation or communication in interstate commerce or by the use of the mails, to publish, give publicity to, or circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or communication
which, though not purporting to offer a security for sale, describes such security for a consideration received or to be received, directly or indirectly, from an issuer, underwriter, or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration and the amount thereof.
"The SEC has told FinancialWire that Regulation 17(b) means full and complete compensation for research and any other services provided, including amounts and sources, must be disclosed in 'every press release' as well as other
published documents. The SEC states that third party compensations must include the relationship of the payer to the issuer.
"In an email to FinancialWire, John J. Nester, a spokesperson for the U.S. Securities and Exchange Commission, confirmed that regulators interpret 17(b) to mean that specific compensation information must be contained in press releases, and that a link to a disclosure somewhere else, for example, is a violation of the regulation. He further stated that the compensation disclosure required by the SEC includes 'amounts and sources in any press release mentioning the company under research coverage'."
CFA Magazine says its task force with the National Investor Relations Institute proposes that analysts:
"Accept only cash for their work and to decline any compensation that is 'contingent on the content or conclusions of the research or the resulting impact on share price';
"Disclose the nature and extent of their compensation, along with any relationship they may have with the issuer or an affiliate, their credentials and professional background, and any matters that might reasonably be expected to impair their objectivity; and
"Certify that analysts and recommendations contained in the report represent their true opinion."
The SEC had previously told FinancialWire that it intends to enforce its provisions so that investors may have a fully transparent understanding of any potential agenda or lack thereof.
In a January 2000 research report, for example, the SEC said outside analyst Paul Bornstein, who it has charged with 17(b) violations and fraud, "failed to disclose that at least part of Bornstein's optimism about CyberCare (OTC:CYBR), then on the NASDAQ (OTCBB: NDAQ), resulted from his simultaneous employment by CyberCare's public relation's firm.
In subsequent communications with Nester, the SEC's spokesperson, he appeared to equivocate on the subject of whether public companies bear the same disclosure responsibilities as do the research firms covering them. Nester said there is currently no authoritative interpretation from the Commission as to public disclosure transparency by public companies themselves.
On September 20, an Investrend Research proposal for the U.S. Securities and Exchange Commission to clarify Regulation 17(b), including confusion about the requirements of public issuers for full compensation transparency, was adopted by the annual SEC Business Forum on Small Business Capital Formation, and it has been reported out for submission to the Commissioners.
Investrend has also asked the National Investor Relations Institute and CFA Institute joint panel developing guidelines for independent research providers for permission to amend its March 20 comments to ask the panel to require public company issuers "to make all disclosures contemplated by Regulation 17(b), whether or not the SEC has issued an authoritative interpretation or the company's counsel states that it does not have to do so by law."
While independent research by standards-driven providers are "growing in legitimacy," according to the Dow Jones (NYSE: DJ) in a recent article that singled out Investrend Research in that category, the article went on to quote Lou Thompson, president of the National Investor Relations Institute, which had issued new Guidelines in 2002 endorsing legitimate "paid-for" research, as warning of "various mutations of paid-for research."
The SEC Forum is the annual event mandated by Congress to secure opinions and recommendations from public issuers, financial industry professionals and the public.
Companies in the FinancialWire series about questionable research practices and disclosures have included Horizon Medical (AMEX: HMP), Nymox (NASDAQ: NYMX), Genesis Technology Group (OTCBB: GTEC), Martek Biosciences (NASDAQ: MATK),
Ecolab (NYSE: ECL), Clorox (NYSE: CLX), Dial Corp. (NYSE: DL), AdZone (OTCBB:ADZR), American Water Star (OTCBB: AMWS), Markland Technologies (OTCBB: MRKL), Transnational Financial Network (AMEX: TFN) and Telkonet (OTCBB: TLKO), Cytomedix (OTCBB: CYME), LocatePlus (OTCBB: LPLHA), Rockport Healthcare (OTCBB: RPHL), Universal Express Co. (OTCBB: USXP), Lifestream Technologies (OTCBB: LFTC), Home Solutions of America, Inc. (AMEX: HOM), AirRover Wi-Fi Corporation (OTCBB: AVWF), Raike Financial Group (OTCBB: RKFG), CareDecision Corp (OTCBB: CDED), Life Energy and Technology Holdings, Inc. (OTCBB: LETH), TeraForce Technology Corporation (OTCBB: TERA), and Flight Safety (OTCBB: FSFY);
Also, Playtex Products (NYSE: PYX), Ericware Technologies (OTC: ECWR), NuTech Digital, Inc. (OTCBB: NTDL), Terra Nostra Technology Ltd (OTCBB: TNRL), and NanoSignal Corp. (OTCBB: NNOS)., DNAPrintGenomics (OTCBB: DNAP), Syndication Net.com (OTCBB: SYCI), Quintek Technologies (OTCBB: QTEK), GeneLink (OTCBB: GLNK), Quality of Life Health Corp. (OTC: QLHC), Environmental Remediation Holding Corp. (OTCBB: ERHC), Cornerstone Entertainment (OTC: CNRH), Medifast, Inc. (AMEX: MED), Workstream, Inc (NASDAQ: WSTM), SIGA Technologies (NASDAQ:
SIGA), Sub Surface Waste Management of Delaware (OTCBB: SSWM), Xfone, Inc (OTCBB: XFNE), Offshore Systems International (OTCBB: OFSYF; TSX: OSI), American Ammunition, Inc. (OTCBB: AAMI), Electric City Corporation (AMEX: ELC), Digital Recorders Inc (NASDAQ: TBUS), Sonoran Energy, Inc (OTCBB: SNRN), AeroCentury (AMEX: ACY), CTI Industries Corp (NASDAQ: CTIB), MFIC Corporation (OTCBB: MFIC), Vermont Pure Holdings Inc (AMEX: VPS), CytRx Corporation (NASDAQ: CYTR), World Golf League, Inc. (OTCBB: WGFL), Gaming & Entertainment Group, Inc (OTCBB: GMEI), Misonix (NASDAQ: MSON), Destiny Media Technologies (OTCBB: DSNY), Chicago Pizza and Brewery (NASDAQ: CHGO, BioSante Pharmaceuticals Inc (AMEX: BPA), a21, Inc. (OTCBB: ATWO); and
Also, OrderPro Logistics (OTCBB: OPLO), Military Resale Group, Inc (OTCBB: MYRG), Timber Resources International, Inc. (OTC: TMBN), OptimumCare Corporation (OTCBB: OPMC), Command Security (OTCBB: CMMD), Molecular Imaging Corporation (OTCBB: MLRI), TechnoConcepts Inc (OTCBB: TCPT), Sequiam Corporation (OTCBB:
SQUM), MEMS USA, Inc. (OTCBB: MEMS), Provectus Pharmaceuticals, Inc (OTCBB: PVCT), eFoodSafety.com (OTCBB: EFSF), Intelligent Business Systems Group International, Inc (OTCBB: IGII), Chilmark Entertainment (OTC: CMKK), Tech Laboratories, Inc. (OTCBB: TCHL), BodyScan Corp (OTC: BDYS), Wireless Frontier
Internet, Inc. (OTCBB: WFRI), Ableauctions.com, Inc (AMEX: AAC), UFP Technologies (NASDAQ: UFPT), Systems Evolution Inc (OTCBB: SEVI), Resin Systems, Inc (TSX Venture: RS; OTCBB: RSSYF), Touchstone Applied Sciences (OTCBB: TASA), Daxor Corporation (AMEX: DXR), JMAR Technologies (NASDAQ: JMAR),
WWA Group Inc. (OTC BB: WWAG), TravelZoo (NASDAQ: TZOO), I-Trax (AMEX: DMX), Axonyx Inc. (NASDAQ: AXYX), ACL Semiconductors, Inc (OTCBB: ACLO), ImageWare Systems (AMEX: IW), DXP Enterprises (NASDAQ: DXPE), and Epixtar Corp (OTCBB: EPXR).
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More of the same as you say.
I however think Matin is preparing something very significant with new allies and in consultation with his lawyers (I assume there are still a few around that are not involved in your election of tomorrow).
My beleif is that Veltex is close to what is being claimed but Matin is stuck with a very big lie (ownership of Veltex Mills) he has to somehow correct.
What it is? Who the heck knows with this guy???
Audit and report to SEC as he promissed?
Large dilution of our stock (as alluded to before the last BOD)?
Privatisation (audit would be required)?
Sell out or merger (audit would be required)?
I do not know what is cooking but I have a very serious feeling that something does and I assume we will have it all figured out before the end of first quarter 2005.
We shall see (as always...)
Same to you and everybody else. (Unfortunately the forecast is 2 days of rain). I tol;d the wife I had plan and she agreed WWWWWEEEEEEEEEEE!!!!!!!!!!!
Story of the week (final)
-Low: $ 0.75
-High: $ 3.09
-Volume: 1,684,741 shares (2,000,000 O/S ???)
-Last: $ $ 2.50
Obviously traders and Manipulator Managers had a ball up to now but a lot of shares are now own by some with a cost per share over $ 2.00.
Let's hope that this is not only that: A manipulation.
I expect it to swing up and down (general downward trend) till Novermber 25th. Then ???
This is another think we will have to learn to live with the darn Manipulator Managers.
Story of the week (up to noon today)
-Low: $ 0.75
-High: $ 3.09
-Volume: 1,650,840 shares
-Last: $ $ 2.20 (11:45)
Obviously traders had a ball up to now but a lot of shares are now own with a cost per share over $ 2.00
Research, Report & Profiling Services
by IPOdesktop.com
Veltex Corporation
Stock symbol: VLXC.PK …………………………………..Float: 1,300,000 (est)
Stock price 10/28/04: $2.60……….Common shares (10/28/04: 2,000,000 est)
It's only an estimate (probably based on old data) but it still shows 2,000,000 as of yesterday (I doubt that).
Wishful thinking:
Could it be that Matin could not get his funding on the basis documented herein by shrotker but met a serious potential investor promissing whatever funding Matin needs if he normalize (audit and report to SEC) the company.
Then:
- no additional shares had to be issued ... yet However, I assume that in this case, the financier will have set a garantied PPS for the future)
- Matin understood that the money required to normalize the company was not that bad an "expense" after all.
Once again, only Matin knows what he is doing (not necessarely what he is saying).
Remember that many (not to say most) people involved with shares traded on the Pinksheet market are only playing based on technicals and trade in and out cashing in short quick profits.
There were a lot of shares out there that were bought at below $1 and even this week some were bought below $2.
If you do not have a long term view for this stock and/or you do not trust Matin, selling shares for a 50 to 100 % profit within a week or so is quite attractive.
Unfortunately (and that is not only true on pinksheet) there are a lot of people (small or big) manipulating the stocks and having no interest whatesoever into fundamentals.
In our case, we also have to recognize the lack of credibility people (justifyably) have for Matin and running away with a profit is not that bad a strategy.
As my broker keep saying, a profit is a profit, is a profit. You should never regret it.
May be I should listen to him ??? But I want. With this speculation (it's not yet an investment) I'm in for the long run (unless the run is stopped out of my control).
Absolutely but let's first see if he can deliver a credible audit for 2003.
If he does (and report to SEC) and shows anything close to what he has released in the past, we should see some king of PPS growth to the $3.50 range (we know what number of O/S it should show).
This precedent being in place, then the 2004 audited results should become available sometime in mid-February.
Again If numbers looks anything as those we saw this week, we can expect great PPS, however limited by the number of O/S this will show (effective Dec.31).
That's the optimistic scenario many of us waited for, for years. Doubts are therefore justified right now.
Agree with your comment.
However with Matin we're always up for surprises. May be this time it will be a good one.
Let's just hope we do not have an unhappy month of November to start with (the audit is due out on or before November 25th???).
I bought my first 4000 shares at $0.43 on 09/09/1999.
I however stopped looking at it when Matin left USA for Bingladesh, thinking it was a net loss.
Then about 3 years ago I saw it (my monthly broker's report) move and started looking at it again.
Since I got myself up to 500,000 old shares (5000 new ones) (only selling some twice) and currently my average cost is $ 1.25 + or -.
Therefore I am quite used to high hopes turning in very low expectations and I now keep control of my expectations till we figure out what this is all about with more reliable documents that those issued by Matin all by himself.
You know, it's like desiring something (or someone) for years and years. Unless you finally got it (or her) for sure, you prefer to wait and see so you control your emotions whenever time comes.
You have some optimistic days, others which are pessimistic and other again that you don't know what to beleive or not.
Right now, I feel like beeing in this last category.
???????
To be honest I cannot even beleive that it went that far that long.
However, the more shares get bought over $2.00 the better.
I also assume that it will go lower than $2.00 before (and IF) Matin delivers.
I kept all my shares (speculative, long term placement on my part... gain a lot or loose it all), but got my daughter to sell 300 of her 750 shares at $2.80 yesterday. She now has cashed a $ 100+ profit and still own 450 free shares.
I told her that she has nothing to loose anymore, may be a lot to gain and she could buy again if desirable, 550 shares if the price goes down to $1.50 (average cost then: $0.75/share compared to her previous $1.00/share).
My wife on the otherhand did refuse to do the same saying she did "BET" (her word) and expected to loose her bet or make significant gain...not interested in making only a few $$$ she said.
Whatever the case, it sounds like no one will have regrets, whatever happen, understanding very well what is being done.
I certainly would not challenge your opinion.
However there is effectively a possibility that someone joined with Matin, throwing in the first million (the $ 1,000,000 requirement was just an initial requirement. I heard he needed more than $ 15,000,000 investment to get his company up to $ 100,000,000 sales).
If I was that investor and tought that this is what we would like it to realy be, I would have said:
"I will invest what you need to get further but first you have to normalize the status of the company".
Even to most stubborn person can make a move given the right motivators.
However, we only can speculate, hoping for the best and remembering that we already saw what's actually going on in the past, to thereafter be dissappointed.
We shall see.
I wonder if:
- People are accumulating
- People are trading in/out and we keep seeing the same shares
- Matin is dumping shares
However, some seem to be buying at high PPS in large amounts (up to $ 25,000 a pop).
9:30:34 AM Trade 2.95 1000
9:30:34 AM Trade 2.93 500
9:30:50 AM Trade 3 1000
9:30:50 AM Trade 3 1000
9:32:32 AM Trade 2.95 1000
9:32:32 AM Trade 2.95 1000
9:34:22 AM Trade 2.95 5000
9:35:10 AM Trade 2.9 7500
9:35:58 AM Trade 3.09 8000 ($ 24,720)
9:51:00 AM Trade 3 1050
9:51:00 AM Trade 3 300
9:51:04 AM Trade 3 5000
9:51:24 AM Trade 3 500
9:51:24 AM Trade 3 1000
9:52:08 AM Trade 2.95 5000
9:55:34 AM Trade 2.95 250
9:55:34 AM Trade 2.95 250
10:04:18 AM Trade 3 2000
10:04:18 AM Trade 3 1000
10:04:18 AM Trade 3 500
10:06:38 AM Trade 2.86 173
10:06:38 AM Trade 2.86 500
10:12:00 AM Trade 2.85 5000
10:13:22 AM Trade 2.6 150
10:13:22 AM Trade 2.6 173
What I like is the fact that more and more of the cheap shares probably are being dumped and more and more of the shares out there are held at an over $2.00 cost.
Unless Matin does real stupid moves again, we are getting a better base to grow from.
However, recent NR's better be followed thru otherwise ...
Right but the calculated number of shares is the one that was effective on September 30th.
The speculation is that in return for funds Matin would have issued lots of shares since then.
Again, it's only speculation and we do not know if such is the case or not.
All I can say is that: IF (again) the financials showed are for real and coming from something we own at 100%, 2, 5, 10 or even 20 million shares is far from being disastrous.
Obviously I hope the number of O/S is closer to 2 than to 10 millions.
Without presuming of anything with this situation, I assume that IF the said audit (2003) was effectively produced, it would be in view of setting up for audited 2004 financials to be released in 2005 so normal reporting and listing on another market could be done.
Otherwise why would Matin suddenly produce a 1 year old audit that he tought was much to expensive up to now?
Another point: IF (This darn word as always) Matin found someone (a real business person) to invest a million or more in return for shares (whatever the price), it is highly probable that this investor got some kind of arrangment rendering normalization of the company mandatory.
In any case all we can do is to speculate.
Nice. I am sure you will be able to get back in at a much lower PPS if you so wish ... unless Matin credibly shows that what he wrote was true (???).
Hypothetically, assuming 40,000,000 outstandig, assuming numbers in the release are right, our run rate says a profit of (%5,070,550/3 X4)$6,760,000 is what could be expected.
On the basis of 40,000,000 shares, this is $0.17/share and applying a multiplier of 10, it means a PPS of $ 1.70.
Lots of IF's and assuming's in there but this is the maths answering your question.
Pure fiction in my mind, considering we play with many unknown:
- What is the company all about in reality
- How many shares are out there
- What is the profit applicable to these shares (ownership of Veltex Mills)
and on, and on, and on ...
A real speculation if I ever saw one.
The NR is all over the place and the news is (if you take it at face value) more than great.
My concern is that the average transaction is only made of 1600 shares (average) and that could mean that a lot of small shareholders jump out of the ship (remember that thousands of shares were bought at $1 or less).
I wonder who is buying (or accumulating maybe?) and if they are betting or know more than I. I tought for weeks now (as said herein) that some "in-the-know" are accumulating shares from soft hand shareholders just happy to get out with minimum or no damage.
That may only be a spike enginneered by MM's and traders but considering the fact that it follows 2 great NR's, it probably is more than that.
On the otherhand, trusting Matin remains dangerous till further notice.