Retired
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Try this:
Left brain, right brain.
> While sitting at your desk, lift your right foot off the floor and make clockwise circles.
> >
> Now, while doing this, draw the number "6" in the air with your
> right hand.
> >
>Your foot will change direction and there's nothing you can do
> about it.
This WILL drive you crazy (If Matin did not already did it to you).
Out here but what is there to talk about?
Do not hold your breath. I expect that to be the situation for months to come. My best hope: sometning may be worth discussing when Matin issue full FY04 results ... assuming he says more than usual.
Till then: ZZZZZZZZZZZzzzzzzzzzzzzz
I do not know who nor why but somebody is accumulating.
Are these shares coming from private fedup shareholders? That many in less than an hour, I doubt it.
Are these shares coming from the company? How many are left?
This has become a blind "bet". Let's see.
May all have a great weekend.
Notwithstanding a news release (granted one we are used to), it is obvious that the market isn't impress by whatever this company has to say ... Unles they address the issues that "investors" are interested in: Where do we stand and where are we going.
The first question requires behaving as a serious publicly held company, the second assumes some kind of respect for actual and potential shareholders.
May be time will help but short term, not much to expect (except may be actions from short term traders going aftre a few hundreds dollars.
"It seems apparent that Matin cares about growing the business at present and not about the price per share."
I realy would have no problem with that (I'm long).
What would worry me somewhat more is if it read:
"It seems apparent that Matin cares about growing the business at present and not about the profits he makes in USA".
My basic question is:
If Matin had stayed in Bengladesh, built a company generating high profit revenues of $25,000,000 and had a lot of retained earning out there, how much would our shares be worth?
I realy do not understand Matin and his continuos behavior obviously convincing no one.
Discussing it with my broker at lunch yesterday (he hates me fooling around with PS stocks but is paid well enough to follow me whenever asked) he said:
"What if Matin manufactures something in Bengladesh for 50 cents, sells it to his USA company for $1.00 and USA sells it to market for a very competitive price of $1.00. Matin's profit would be 50 cents (100%)(tax advantages of Bengladesh) but USA's profit would be $0.00. In this example, what do yourealy OWN as viewed by the american markets?".
We know that retained earnings (in Bengldesh) are very significant (Anne Tahim's report) but never see what revenues and margins are (or will be) made in USA (Matin doesn't split the bottom lines any more).
Notwithstanding available fundings in Bengladesh, private funding and selling new shares seem to be required right now to finance transactions in USA. I understand the tax implications of importing funds from Bengladesh to USA but are successes and assets out in Bengldesh significant for american shareholders and at what level?
Till Matin decides that transparency is required to obtain credibility, news releases will keep sounding very positive but the market will stick to a wait and see state therefore letting the PPS of 1 penny survive.
You may be right but I doubt that MM's would bother playing for 0.003 considering the volume.
Yesterday as an example only 766,000 shares were traded. Even if all were the object of a MM's trading, a maximum 0.003 difference would mean $ 2,300.
I doubt even such a most likely impossible scenarion would justify MM's implication.
However who realy knows?
"I do not believe that Matin has any plans to take the company private" ... as a matter of fact I do not know what to beleive ...
As for the ASM, based on past experience, with luck, we should find out about it early after it would have been held. In any case, if Matin can secure enough shares, he could control whatever ASM there would be.
As for your concern (to keep earnings in Bangladesh) this is another cloud hanging over this stock.
Unless Matin clear the air and starts behaving this stock will remain highly speculative and investors (not insiders or close to them) will not touch it. Therefore you may very well see 0.009 much longer before you see 0.40 ... if we ever see it.
As for the spike, I sincerely beleive that if we were to see 0.05, many,many shares would become available and PPS would there from be under a lot of downward pressure ... Unless the spike was justified somehow by facts.
This being said, I sit on my speculative shares (However I may have some out there with others if we see 0.05).
Let's hope
Someone wants it up ... someone wants it down ...
3:45:42 PM Trade 0.011 50000
3:42:26 PM Trade 0.014 50000
3:42:20 PM Trade 0.011 50000
3:36:02 PM Trade 0.014 75000
3:35:52 PM Trade 0.011 75000
3:30:50 PM Trade 0.014 50000
3:30:42 PM Trade 0.011 50000
10:53:06 AM Trade 0.014 41350
Thanks for your comment.
I keep trying to figure out why Matin does behave as he does (doesn't look normal to me) and this is only a based-on-nothing-speculation on my part.
The following may be an impossible (legal???) scenario but I put it out iin view of receiving comments ... who knows?
Could Matin (help by partners whenever required - step 4):
1- Purposely keep the PPS as low as possible (doing good up to now),
2- Keep the financials not audited and not reported (keep controls as distant as possible),
3- Build a company worth much more than the then quoted capitalzation,
4- Silently enginneer (as a silent partner) a bid for a buyout (100% of the shares) at a price better than then current capitalization (let's say $0.025/share),
5- Have the board accept it (he may even have the required vote all by himself)
6- leave the current shareholders on the sideline with a very small profit if any.
As I said I do not know if that is or not feasable but if it could, Matin would have used the market to build up his business then run away with it whenever done.
Comments ???
No. Someone (in the business) attended one of their booth and saw it for himself. He said that as a potential buyer (no need as of yet) he certainly put them on trial when he has to order again.
FWIW.
Having myself been in marketing for over 30 years, I am impressed by the overall marketing strategy and effort the company is putting up (shows, catalog, internet site, direct sales,...). It would be nice to know if it translates into orders in USA and in what kind of volumes. Considering the claimed quality-cost of their offering (verified personally by a contact of mine) they must have some success but who knows what the scale of it is or not?
Still cannot figure out yet why Matin doesn't do more to create credibility in the stock market ???
To sender.
"Just for the record,"
Cannot read this message in my mailbox.
Just for the record (this being done on a message board) and for those (if any) that may be interested:
1- I own 500,000 shares I paid for (starting in 1999)
2- I am not yet above my average cost (darn close however)
3- I do not even know how to short such a stock (even as a Canadian)
4- I enjoy this message board as a potential source of lead to my own DD (never anything for granted in here)
5- I do not enjoy messages being affirmative about the intent of anyone in here, not having a clue who he realy is (this is an anonymous board)
6- I beleive Veltex does exist
7- I do not know how successful or not it REALY is
8- I have opinions but have not yet found out why Matin does behave as he does
9- Notwithstanding a lot of direct communications with people closer than I to the company and Matin, my DD has yet to be totally reassuring
10- I enjoy exchanging opinions herein with whoever is interested and try (as much as I can) never to answer those insulting me.
FWIW,
Great advice (worth being repeated now and then).
My understanding is that the company called for investors, as a potential one you did ask for relevant information and they gracefully accepted to answer your request.
Unless you were SPECIFICALLY NOTICED that the sent information was confidencial (and even then, you would have had to agree to get it in this context BEFORE it was sent to you), I do not see any risk for you to release it. Worst case the rep of Veltex could be in trouble if he wasn't authorized to send it but the company would have no recourse againt you (unless they FORMALLY advise you of the confidenciality of the documents you would have received inappropriately.
Bottom line, I see no issue here.
Whatever activity is the consequence of traders buying low (0.01) and selling high (whatever that is) LOGIC doesn't prevail and facts are irrelevant. Therefore what they did yesterday is caused by nothing but speculations that buyers may come around for whatever reason.
However, my view is that some "LONG" investors are accumulating gradually chipping in now and then few dollars (100,000 shares only cost more or less $ 1250) to grab whatever shares are offered by the above people and/or soft hands moving away. These "investors" for reasons of their own, do (as I) beleive that Veltex is a real company and one of these days, it (Matin) will do whatever will be needed to have the stock reflect whatever the company will be worth.
In this context "apparent" activity (worth few thousand dollars), considering number of shares will happen now and then for no obvious reasons as it did at the end of the day yesterday.
The fact of the matter is it represents small changes for buyers having "LONG" objectives at a reasonnable risk.
"Why did it go up yesterday? Why did it go down last week?"
Only thiose directly involved (buyers and sellers) do know.
Only my point of view ???
Who knows? Nothing special became known within the last 24 hours justifying the large buys of yesterday at price 30 to 50% than usual.
However, my opinion (only) is that someone is accumulating all shares that were put out by soft hands trying to escape with breackeven or some profit.
Again this morning, 12 trades within les than 2 minutes totalling 70,000 shares at prices between 0.012 and 0.015 (remember millions of shares are there at a 0.01 or less cost).
10:50:14 AM Trade 0.012 5000
10:50:08 AM Trade 0.015 5000
10:49:52 AM Trade 0.012 5000
10:49:48 AM Trade 0.015 5000
10:49:20 AM Trade 0.012 5000
10:49:14 AM Trade 0.015 5000
10:49:04 AM Trade 0.012 5000
10:48:56 AM Trade 0.015 5000
10:48:30 AM Trade 0.012 15000
10:48:26 AM Trade 0.015 5000
10:48:26 AM Trade 0.015 5000
10:48:26 AM Trade 0.015 5000
But what do I know???
Almost 1,000,000 shares were traded at 0.013 to 0.015 within 10 minutes (3.44 - 3.55) right at the end of the day.
Who bought that? Someone accumulating?
Where do these shares come from? from discouraged small investors happy to get 30 to 50% more than was available for many days?
If what has been released by the company up to now is true (and I beleive it is more than less) this stock shall be worth a lot more whenever:
step 1- Matin can show in the $ 5,000,000 range revenue (shares in the 3-4 cents range)
step 2- When financials are audited before they are released and reported shares in the 10-15 + range)
My view: these steps could be completed before mid 2005 (step one) and when fiscal year 2005 financials will be released as audited ones (February 2006). Would be nice if both step could be completed by February 2005) ???
My opinion is that, this is Matin's general plan. He spent 2 or 3 years putting up the Bingladesh operation and decided (end of 2002)to do the USA phase (Marketting-selling) within a similar time span (notwithstanding past difficulties ... tranport +).
Then he (with those having stayed in the long run) will do whatever has to be done for him and these shareholders to cash in seriously.
I obviously would like everything to go faster (as often expressed) but the more I look at it the more I beleive that Matin is going along this line, letting crying small shareholders (Count me in) complain.
Just an opinion obviously ... but I share it ... therefore intend to sit on my few shares.
Not being a fan of PS and OTC BB stocks, I own (as a toy so I can share opinions with a freind) 500,000 shares of ADVC.
2,500,000,000 O/S and a current PPS of 0.0008.
The reason to mention it is a letter to shareholders (copied hereafter if of interest) issued this morning by the management of the company. This letter shows that a management having any respect for its shareholders tries to inform them somewhat. It does not cost much but still tells what the management team hope to be able to do in the future.
Matin could do the same and not throw away $$$ he want to use on something more important than an audit and at the same time ... who knows, have to issue a smaller number of shares whenever he uses them to "finance a transaction".
He however seem to prefer to leave the market confused and informed in a meaningless way. Considering he his not stupid (many testimonies supporting this) the question remains: WHY ???
Considering:
1- current number of transactions and volumes,
2- activity on message boards (I just look at the other one and it's dead also),
3- the stability of the PPS whatever the company says,
My opinion is that
1- most small shareholders (traders) hoping for a short term profit have left the boat, selling their shares
2- these have been taken up by people (probably close to the company) having a longer term objective and accumulating shares.
Just an opinion, but I would realy like to know how many shareholders do exist these days.
Matin's behavior and his recent non-impact on the PPS are justifying getting rid of your shares, unless you do not mind waiting at least 6 months (release of FY2004 financials) to figure out what this is realy all about. Even then, if the quality of this release is as Matin did it in the past, a longer wait can be expected.
Looks to me that he effectively tries to keep both operations independant from one another. That's why I mentionned looking at the U.S. operation as a separate independant startup.
Unfortunately, he doesn't yet (except for when Anne Tahim issued a report) divulge what is or not going on in U.S. in term of financials.
This approach of his may be caused by a long term plan of his that, I must admit, I cannot yet figure out ???
I like what Matin does (even if I often express my dislike for what he doesn't do ... yet).
IF we accept released financials, business is great in Asia and that makes us(me) look at Veltex as an established operation growing rapidly and having an undervalued stock. This is not wrong but the market obviously has a different view.
Veltex (as an American operation) is a startup. In that context, considering it's access to supply of quality and low cost, developping a market is THE single most important priority initially.
In such a context, we have to admit that Matin is realy going at it focussing 100% on this priority.
Anyone having been involved in such a context (I have) has to agree with him.
Therefore one way to look at our shares is as some of a startup operation having to succeed in developping its market. With this view, a capitalization of a couple of millions is a very nice position to be in and it offers a great growth potential in a very reasonnable risk context.
Forgetting completely about Bingladesh (however it seem to be there), let's assume an initial step of $ 5,000,000 sales in U.S. and the same kind of profit the company showed during first quarter. The profit (7.87%) $ 393,000 would then mean a profit (always very significant with a startup) of $ 0.002/share (basis of 200,000,000 O/S).
Only on that basis, a conservative multiplier of 15 would justify a PPS of $ 0.03. Even at 50% more O/S (300,000,000) this stock would easyly justify a PPS of $ 0.02.
Just hope I did not miscalculate herein.
The the question is how long will it take for Matin to claim $ 5,000,000 sales in U.S.?
Then out of country revenues will come into play as an add on.
We shall see ...
In Quebec most road sign are in internationally recognized formats (graphics and pictures)and the others are generally bilingual when needed. To be noted that up here (Canada, including Quebec) we use kilometers intead of miles since the end of the 70's as per my recollection.
Having been in Japan and Greece, I didn't see anything but japanneese and Greek. However it is to be noted that there are less American presence in these countries than their are in Iraq (recently) and Saudi Arabia). On the other hand, in Frace I heard more anglicism than I hear in Quebec.
Out of Montreal I would say (not scientific estimate) that over 95% of people speack french and 80% are bilingual (at least enough to maintain a basic discussion. In Montreal, less than 10% of people are unilingual english (or at least claim to be) and others are generally bilingual.
As for Miami and Texas, I assume that if this effectively becomes a risk you wil (as I beleive they did in California) legislate to protect english.
I take your remark and the precedent as the expression of a point of view that I respect, not a critic.
road construction: with the state of our roads (weather doesn't help) we will have to live with it for years to come.
French: There are 2 schools on this:
1- Those looking for their familiar language wherever they go probably agree wiith your point of view.
2- Those wanting to taste Europe, driving, enjoying food and beautiful women can do it here and this at a cost close to half what it would cost to do it out there.
Unless you get away from large city, you will be entertained in english if you want to. As for the signs, that's part of the image of the culture Quebecers decided to show.
Whatever the number of shares he does or will own, IF EVERYTHING HE RELEASES IS TRUE, Why satisfy himself with a 0.03/share when he could make it 15 with a small investment in an audit, reporting normally and get listed away from PS ?
If he got 300,000,000 shares at some point in time, unless he does what has to be done, I do not see him succeed in selling them at 0.03.
In my opinion, he either may get 0.01 or 0.15 or so, nothing in between.
"Will there be another stealth ASM with the A/S increased another 100MM shares?"
My opinion ... most likely.
What for? God and Matin do know.
My feeling: Matin operates 2 outfits and refuses to transfer funds from one to the other. He accumulates capital in Bingladesh and finances his "US startup" thru shares.
If so, the question is: Why doesn't he do whatever is needed to use shares having some value?
Questions, Questions, Questions and more questions.
ait and see seems to be the best strategy right now and I suspect it will be like that for months to come ... only my opinion.
Except for the audit and reporting to SEC, you touch one concern of mine there.
We know that as of the audited (???) numbers of Tahim, all sales (100% in 2001 and all but $ 261,000 in 2003) were made in Asia.
Numbers released for 2003 and recent quarters do not breack down the revenues on regional basis.
Is or not Veltex getting some pentration of the US market or do we own shares of a Bingladesh company only?
Would be nice if Matin was releasing a progress report on his marketing results in US. However so many things "would be nice" !!!
However, one of these days (years ???) he should want his own shares to be worth something ... I assume ???
At current PPS (o.008) the market says that Veltex (assuming 190,000,000 O/S) is worth (capitalization) $ 1,520,000.
This company presumably is one showing:
- net sales in the first quarter of 2004 totaling $10,900,000
- net income in the first quarter totaling $857,306
- projected total sales in 2004 that will exceed $25 million
and the following history:
- net income in 2003 of $1.528 million,
- in 2002 totaled $1.65 million and
- was $1.3 million in 2001.
- Sales have grown from $5.5 million in 1999 to almost
$20 million in 2003 under current management,"
Either this is the best opportunity in all markets taken together or it's the worst scam ever conducted anywhere ???
He! Matin ... wakeup or shut the f... up !!!
The only thing we seem to know (some can go and see for themselves if they are close enough) is that the company is actively trying to get sales (another Business show announced today).
Therefore there is an operation out there and PRESUMABLY it's growing fast and profitably (assuming financials released by the company to be close to reality.
Then assuming 200,000,000 O/S, for the PPS to become $ 0.50 (assuming a multiplier of 12) we would need a profit per share of $ 0.04.
"Net income in the first quarter totaled $857,306." ...
Assuming 4 quarters of this quality, net income for 12 months would be + or - $3,500,000 or 0.0175/share (X by 12 = $0.21/share).
Two questionsto be answered to "imagine" a $ 0.50/ share, the first one being THE key:
1- ARE THE STATED REVENUES FORECASTED FOR THIS YEAR REAL (over $ 25,000,000)
2- This being how far down the road can thes be doubled?
That's the way we should look at it ... IF ONLY MATIN DECIDED TO OPERATE "HIS" COMPANY NORMALLY.
Till then, we sit on shares wort a penny or so (accepted value of the company or capitalisation of less than $ 2,000,000.)and everything else is pure speculation, one way or the other, even a dream or nightmare, whatever way you want to feel.
You want to see shares at $0.005 ... IMAGINE ugly scenarios.
You want to see shares at $ 0.50 ... IMAGINE great scenarios.
However, IMAGINATION having to start from a CREDIBLE basis, right now, even that is not realy possible.
CREDIBILITY WAS, IS AND WILL REMAIN THE ISSUE TILL MATIN DOES MOVE HIS A..!
The fact that he refuses do do it is what worries me.
Why accept to use shares worth 1 penny to finance "transactions", when he can do it with shares worth $ 0.20?
Something fishy is going on behind the doors but do not ask me what.
With this stock, of two things one:
1- You beleive what the company did release, own stocks and understand nothing worth discussing will happen before 1st Q 2005, or
2- You do not beleive in it and therefore I do not know what you're doing in here.
Whatever the case, Mati does control the show ... whatever the show is all about !!!
"2. Management is willing to sacrafice bagholder value to maintain a strong Balance Sheet, in the event of a sale. (just my opinion)".
Very possible. Then why spend $ 200,000 to have audited results? Why bother reporting to SEC? ...
On the otherhand, I wonder if Matin would be open to letting go of his toy ... more important when ???
Anyhow, unless someone has a crystal ball, all we can have is "an opinion" ...
What I have a hard time to understand is: "why does he keep using "undervalued (???)" shares in doing some transactions?"
Why doesn't he understand that spending the funds ($ 200,000) to get his financials audited and reported, could let him stop diluting his own (and our) ownership ... if the company is effectively as claimed?".
... Unless he is the one accumulating most new shares, thereby increasing is % of ownership ???
... Even worse ... unless the claimed available cash is not easyly accessible ???
We keep seeing increasing revenues but the last time we saw detailled numbers (Tahim's report) 99.5% of the showned revenues were coming from Bingladesh.
It's getting even more obvious that Matin has no concern or respect for his shareholders ... at least on a short term basis.
It looks as if he was telling himself: "let's build a as profitable as possible company, let's not spend money on useless (???) paperwork and let those playing with my (???) stock do their thing. In due time (???), those that did stick around will appreciate".
The question is when is "due time" in his mind?
Can anyone find another company generating $ 25,000,000 + in renenues, having a positive bottom line and having a smaller than $ 1,900,000 capitalisation?
If so I would like to diversify, buying this stock.