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Over 1,250,000 share were dumped at 1/4 of a penny within 6 minutes just before 3.
If the company issued thes, they got just over $3000 for them.
If this thing is not a dead horse it's certainly in a deep coma.
Notwithstanding the fact that we are 1,5 month away from Matin's deadline it takes a lot of faith to beleive that audited financials are in the works almost ready to be released ???????
In any case these "lottery tickets" are the cheapeast one I ever owned.
Note: up to now I was refering to "roulette" (37 to 1 odds) but I decided to now call it "lottery" (our local one offers odds of 1 in 13,260,000).
In any case I own 250,000 tickets ... just in case...
I think that the only "stock promoter" Martin has available is releasing credible audited financials.
Otherwise he will have to dump these 77 million shares at current price for a great proceed of 1/4 of a million dollars.
Who knows what is going on out there?????????
4.5 months without a sign of life from the company.
To my recollection, following June 10th release, someone reported herein that V.Duff was unhappy to see Matin come out regularly with promisses he could not fill and mentionned her recommendation to Matin to shut up till he has something worthwhile to report.
It certainly look as if Matin finally listenned and that he decided not to come out till he has something worth releasing. In my mind the only thing he can release in this context is a set of credibly audited financials.
Notwithstanding all the valid reasons to beleive this to be a scam, it is also difficult to beleive that someone would accept to run a scam and do nothing to improve the value of the shares he wants to issue, wit a market offering only 3 or 4 tenths of a penny for them ???
Mindbogling ??? but I certainly will not get away from the table at this price.
It must be nice to "know for sure" one way or the other. You must be very close to Matin to "know".
Most of us in here are honest enough to admit they have doubts, even very serious doubts, to recognize that VLVT is a gamble and that it is very easy to build a justification supporting that this is not serious. Unless you "know" otherwise, there could also be some logical reasons, granted not necessarely likely, to beleive that may be Matin holds stocks, would like to get at least a few pennies for them and who knows even ressucitate a company that everyone took for gone for ever, a year or so ago.
You (it's a scam) and your counterparts (this will be producing a great return) do know as much as anyone in here, i.e. "nothing" and I assume we will not know till we know.
Why do you (or those very few having blind faith) feel you can be so affirmative one way or the other. Sell or buy, depending on what gang you are with, and have a life.
Personally, why should I care selling shares at 1/3 of a penny (before commission)?
Do you realy care about your unsupported free statement?
"It would be nice to find out the company is growing or expanding."
It would be nice to find out anything about this company. Even a release saying we exist and are operating would be welcome.
But, Matin has up to Dec 10th to demonstrate he can follow trhu on one commitment or repeat his past behavior of not delivering as promissed.
Patience is required (as if being here wasn't the proof that we are patience) and hope is all we can do.
Pretty quiet in here but with the company (???) hiding and staying totally silent not much to discuss.
I wonder if they are or not still operating???
If that bet doesn't turn out to be a net loss, I certainly won't be able to say that I knew...
If it turns out to be anything but a loss, I will have to admit that luck was with me but had no logical reasons (why an "s"?) to hope ...
V.Duff earlier said she recommended Matin not to release anything till he had something worth being released.
I wonder if she told him to shutup or shot him dead?
If that is a scam, it's the most ridiculous one I ever encountered.
If it's not, it's the best kept secret in the world.
O.K. let's turn to more interesting stocks and good week to those still reading this board.
However a full year to audit a small business with an interim release (by error) of a presumably quite complete audit reports, calls for a lot of faith for anyone thinking he INVESTED in an operating company...
If we ever get a serious audit (presumably between now and Dec. 10, 2003) and the result is anything better than very bad, we (holders of shares) will hit a jackpot following a real long shot bet.
Every week, we have people hitting the jackpot in our local lottery. It sometimes happen. No one however should bet the food and rent money in such affairs...
You may very well be right...on the other hand...May be not...
However if past means something, BS may very well be a very appropriate qualifier here ???
Very smart move. Personally, I will finish paying my morgage at renewal time next February 1st. Nothing like having money in concrete these days as a safe heaven for rainy days...
I have no specific worry related to specific months of the year but am very nervous when financial results are around the corner right after the markets went thru the roof. Somehow, even good results often generate dumping of shares right after they have been issued. Having some cash on hand at that time is not a bad thing.
As for Veltex, Matin only has 45 trading days or so to deliver within the horizon he defined last June 10th. Based on past experience this is not very reassuring but who knows? I sometime had the roulette stop on my number after it didn't multiple times! Gambling spare money is fun but you have to be prepare to loose it or stay away from the table.
The next question is how much do you want to bet...if any? In our case you can get 20,000 (shares) chips for $100.
Let's enjoy the GAME !!!
I agree with most of your answer but I personally would prefer it to be a reverse scam, than a scam, the first leading to profits for those holding shares when time comes. This being said, I do not hold my breath.
As for the rest of the markets, I recently gradually moved 30% of my portefolio to more secure investments and got to a 20% cash position as of today. Great recent gains would allow me to increase my speculative bets but I prefer to wait before I jump again with the 1% or so of available funds for speculative situations.
The markets and my investments have been extremely positive year to date but I also think that the general environment is a little to wild not to say irrealistic in many cases. I prefer to wait and see.
Till then, having a few little toys to follow, helps making the wait more fun, even more with our pretty healthy message board. Thanks for keeping it clean.
I very much doubt that anyone will ever bother investigating this situation, whatever happen in the future.
Whoever presumably would have to manipulate this stock, one way or the other, they were not influencing the market whatsoever, the price staying below 1 penny for months.
Assuming for a minute that Velyex is, as per the beleif of some, a scam, it has been a miserable failure and profitted no one seriously.
This is a pink stock issued by a non-reporting company and purchased by gamblers trying to make a quick profit (???) and anyone that would get burned and wanted to complain that they were misinformed thru message on an anonymous message board, would get the attention of no one, never mind any regulator.
On the otherhand, if this stock ended up going thru the roof, after insiders would have somehow accumulated millions of shares, who would complain and what result could he expect from his complaint?
Let's be serious, with everything that is going on in serious financial scandals nowadays, who beleive a Veltex type of situation would attract any attention from anyone? Seriously.
Let's enjoy the ride, hope there is a business operating behind the scene and wish that it doesn't end up as a total failure. Otherwise, let's (leave the table)sell whatever stock we have and put whatever is left in whatever we are interested in that costs only a few hundred dollars.
Unless this is what I call a reversed scam, I beleive that Veltex is a company managed by someone trying hard but not yet having the skills required to succeed. The only question should then be, can he survive long enough to learn and succeed somewhat, sometime or will he fail and have to fold?
Whatever the case, we will have plenty of "I told you" messages to read and that will be it.
Enjoy.
Unfortunately I do not know of any way to find out who is selling or buying.
My statement relative to number of shares being sold by Veltex is averaging known general numbers (see post 1870).
I found your use of the word "speculated" very appropriate since this all we can do for now.
This situation is realy curious.
-The economy is picking up,
-The stock markets are in a bull mood
-Veltex seem to need cash (tens of thousands of shares per day issued recently)
Veltex is either a scam, a stuggling outfit trying to become a potencially profitable reporting company or anything in between.
Whatever it is you want to beleive, considering the general environment, how can you explain that Martin is doing absolutely nothing to give life to the stock???
Since when is someone working at a scam not doing anything (since June 10th at least) to suckin additional shareholders and to boost the value of his stock???
Assuming a more optimistic scenario, how can we explain that it takes more than one year to produce any credible information helping the value of a stock???
Could there be interest for someone in control to volontarely maintain the stock at sub-penny level for months and if so, what for.
I have been sucked in by scams, I have been very well rewarded by bets becoming investment with time.
I must admit that Veltex could be one or the other but it has a very curious behavior whatever the case is.
Note: I have never been involved in what I call a "reversed scam" (keep the stock low and accumulate till you open up books justifying rapid growth). There is always a first time ????????
I mwonder !!!!!!!
I assume it is based on the expectation that someone will accept to buy shares recently bought at $0.004 or $0.005 at $0.007, a 50 to 75 % return.
If you assume someone will be sucket in to buy 100,000 of these shares (only a $700 bet after all) the seller will gain 2 to 3 hundred dollars, Day traders enjoy such small gains hoping to repeat it till they have a day reporting $1,000 or 2 every day.
Fortunately, only 15% of them succeed.
I wouldn't read to much in a $13 worth transaction???
kingnazzikanazzer, Sky-King
"Don't really know what to make of that."
"How can we find out?"
Notwithstanding my hope (dream???) that our number will come out some time in the future (???) There will realy be no way to answer our questions, whatever they are, till Matin decides to come out of his hole.
Any realistic expectation however has to take into consideration that:
-The company still is not generating whatever cash they need to face their obligations,
-Over one year to audit a small firm like Veltex, doesn't make sense
-Past experience should convince anyone that Matin's word is not worth the paper it is written on.
This being said, if you want to be somewhat optimistic,you cann imagine scenarios justifying letting your "bet on the table":
-May be Matin (and/or his close ones) do accumulate shares at very low (almost no) cost for futurevcapital gains (not ethical but we are in the 21st century and do witness much worst in all the market)
-May be hard to understand difficulties render the issuance of seriously audited financials specially difficult
-May be ...
In my mind the only way "to find out" is for Matin to "demonstrate" thru verifyable means that Veltex is effectively a real business and give us means to validate this (his word, considering past experience is not even worth the value of 1 share).
Till then, whatever we see or read will not be helping us in answering "what to make out of that.
Veltex is a pink stock of a non audited, non reporting company and therefore is a blind date that presents very large risk.
Unless you can afford to bet a few number of $$$ for shares you can buy at half a penny per share, you should not even look at it.
On the other hand, if you already own shares (as I do), if you can afford loosing half a penny per share, let the dices roll till they stop.
Till reality finally gets known, all you can do is to enjoy this board and try to make return on investments somewhere else.
Assuming Matin not to be a crook or a totally incompetent business person, the least we can say is that he has no respect whatsoever for his shareholders and the is poorest communicater I have encountered in my 30+ years of experience in the business world.
Till further notice, enjoy this board.
60% (at least) of the shares traded today were at "ask" and values of transactions was quite small (few hundred dollars per transactions).
I assume these were by "gamblers" hoping to put their money on the right number.
Have a nice weekend.
You are absolutely right about the possibility of adding additional authorized shares (thereby extending his survival potential).
As for who is buying, one possibility is that many do play the same game we do chipping in a few thousands now and then in a gambling context. After all, during the last 3 months you could have place a $1,000 bet and get 200,000 chips to ply with. During this period,, on average, only 750,000 shares per day were traded (750,000 X 60 = 45,000,000).
You posted your message when I was ruminated myself...
The basis for me to still beleive this may turn out to be a good (blind) bet is, as often said herein:
- May be someone "in the know" is accumulating "knowing" what is realy going on within the outfit ???
- Why would someone having a good public profile (V. Duff) not openly say that she resigned from whatever relation she has, with a company she would know is a virtuat one ???
This being said, point one for the moment is, to say the least, nothing else than hypothetical ond point 2 does not have much weight nowadays (scandals all over the markets).
They are however justifying considering that this is still a risk and not yet anything we can logically justify.
Only time will tell.
Recent dilution
Between June 30th and Sept 24th, according to the company site and the pink sheet one, the company issued 42,532,000 new shares generating $250,000 to $300,000 ($0.006 to $0.007per share). That means that over the last 3 months, Veltex needed about $100,000 per month to make the ends meet.
Notwithstanding our enthousiasm of not seeing the number of issued shares to be in the 200,000,000 range, issuing 15,000,000 shares per month to pay the grocery is not necessary a great news.
Short of having a reliable understanding of what is going on within the company, we are like the guy meeting his doctor and hearing: "I have a good and a bad news... The good news is that you do not have aids, you are not even positive and you are still alive ... The bad news is you have a cancer and will die in 5 months (75,000,000 shares used at a rate of 15,000,000 per month)...unless a miracle is made in understanding this desease within the next couple of months (audited financials showing potential).
A fundamental question that we need answer to is: what was this money used for (acquiring assets or paying bills???)? Is the company building assets or surviving on a cashflow basis?
Till we see reliable financials, we still are in complete darkness and are gamblers hoping to have a good bet on the table.
For as long as there is life, there is hope ???
I agree that the most valuable information is the one related to the number of O/S if ever VLVT comes out of its hiding.
Understanding that empy news releases are anti-productive and remembering that Matin gave himself up to December 10th to fill his last commitment, I sincerely ask myself if, assuming potential audits are in the cards, for respect for those awning shares, Matin could not release something explaining why the delays seem to be, to say the least, unrealistic.
Unless we are few days away from the company coming out, I think it would be appropriate to communicate with the shareholders to inform them of where we stand. I certainly agree with V.Duff that making promisses you cannot respect and/or issuing empty releases is a futile exercfise.
However, after 4 months of silence, informing us of where we are and why apparently unjustified delays are a fact, seems to me appropriate, particularly if the company is progressing somewhat.
I maintain that the only significant release will relate to credible audited financials but, if for any reason they are not to be available VERY SOON, saying why would not be a bad move.
Right now, based on what we "found out (???)" within the last days, if in fact Veltex can operate without issuing additional shares, they must not care to much about the market price. However a minimum respect for those holding shares would make the company issue something worth being said.
In any case I intend to ride it to the end or to specific prices and I am prepared to continue to show patience and hope if not faith.
Was away for a couple of days.
I am extremely (well) surprised by the number you did optain. I expected much closer to a 200,000,000 number.
Also just read Dougieie's trip report. Understanding that we are in a message board context, what is reported, even if not much, is not negative.
Assuming we have a future (i.e. audited financials will be issued) these twopeices if information are interesting.
1- The company seems to be operating, even on a somewhat larger scale
2- Matin seems to be able to survive without having to isuue additional shares.
I realy wonder why credible financials cannot be released after almost one full year of promisses (however the last one only expires Dec.10).
If ever this becomes an investment (still a high risk bet in my mind) those that kept their shares will have to become models of patience and faith !!!
Whatever or whoever this Matin is, he certainly demonstrated that he can keep a secret well guarded.
Let's see what the future will have to show!!!
You may want to send this message to Dougie if you want him to see that he received a message in his Mailbox.
I use the opportunity to say that I look forward to ntheir trip report. However let's not forget that this is a message board and quite an unreliable source for valid DD.
This being said, let's enjoy it for what it is, a nice way to trade "opinions" between us. Thanks God, it is still quite well maintained.
" What is interesting is that there seems to be buyers ready right at that time to snap them up. The question is who and why."
Very fundamental question. Even at 4, 3 or 2 thousands $$$ a pop, those throwing in this type of money must have reasons to think that the "BET" is worth it. Could it be that some are more in the "Know" than we are or are people able to chip in few thousands dollars on a "blind bet" fooling around with a unaudited, non-reporting pink stock company having a very low credibility up to now???
These big buys also puzzle me very much.
I assume we will have to wait for the outcome to be finally known. One thing is sure however, Matin has done nothing recently to get more for whatever number of shares he is issuing. I wonder why? (The answer to this question would only reflect a "non-supported-by-facts" personnel beleif).
"111 mil. O/S" ?????????????
If you take one transaction out today (600,000 shares probably representing a MM cleaning up his books) the average transaction (18) was of $350 or so. That tells me that small gamblers are making a bet on that outfit and small "investors" are jumping out.
Very high risk, very high profit potential...
I however do not hold my breath !!!
Thanks for keeping this place as clean as possible.
As for you comment ("It doesn't make this any better an investment"), I would even go as far as saying that this may turn out to be a bad "bet".
Nobody knows for sure yet (whatever some want us to beleive, one way or the other) but I must say I am extremely surprised that no one can find ANY VERIFYABLE FACT to support whatever THEORY it is you want to support. I assume that only Matin and his very close ones do know whatever facys there is to know???
On one hand it is hard, to say the least, to beleive that it takes a year or more to audit such a small company and, on the other hand, it is also incredible that nothing was done by the company since last June 10th to support a share price, at a time when the company is presumably issuing millions of shares to pay the grocery??? I realy wonder who is buying them by the millions and why???
Few of us admitted buying few shares recently but I suspect that people, not involved herein but hopefully in the "know", find it justifyable to "invest" few thousand dollars in this oufit.
Whatever the outcome, it will be interesting to read this board whenever it comes out... a good reason to throw away cheaters. Thanks again.
Hopefully, the doubts will effectively be known before December 10th (6 months after June 10th), just in time to decide if we gain money or reduce our taxes.
Not being a premium I cannot answer private messages.
However I agree but if he posts here and I have time to play, I like to argue with him ... for a while...
Thanks! Effectively luck is vrey important in Gambling!
Let's have fun and answer your questions.
First you know as much as I (i.e. NOTHING) about what the outcome of that game will be.
Second, the problem with negatives is that they make short, unsubstanciated claims such as "this IS a scam", "Matin is *&?&*?%$", and so on.
Third I often documented WHY we may endup winners out of this "GAMBLE":
- How come, whatever is presumably being reported to authorities, Matin is still live and kicking?
- Why throw in 10's of millions of share at half a penny without a single (lie) or release (over 3 months now) to at least get the price up for few days or hoursÉ
- Who is bying all these shares at up to 1,000,000 shares a pop?
- Why would someone presumably reputed to be honest and competent (V.Duff) stick around, admit Matin has difficulties of all kind (including understanding the american business culture) and say that Matin doesn't listen to his advisers?
and on, and on, and on, ...
Finally, this being a GAMBLE, we may also loose all. Why? Let's see:
History suggest that Matin MAYBE either, stupid, incompetent, unrealistic, lyar, depth to experienced advices or all the above.
-To say the least, an unrealistic business plan issued on December 4th 2002
-Incredibly the publication of an audited set of financials ... by error???
-Multiple unfilled commitments
-Admitted bad deal with people that ended up being boat anchors
and on, and on, and on...
This has been said time and again (here as well as on the other board for frustrated chatters most likely not having a single share on the table).
"why would you think matin would do anything he says."
"think" and "would" are the key words in your question. (quite different from "believe" and "will")
Let's answer by another question (assuming you sometime BET):
"Why would you think the roulette could stop on the number you have put your money on?"
Veltex IS a pink sheet stock of a non-audited, non-reporting company having a quite negative past. That is why IT IS A GAMBLE.
Anyone that wants to INVEST would stay miles away from it or most other PS stocks of that kind. THIS IS A GAMBLE that can go either way.
If you realy want to invest, find real companies, audited, reporting and being listed on well regulated markets.
If you do not have much money, do your DD, find small value stocks having future and invest in them, reducing your risk (there is always risk).
Opportunities have been around, particularly over the last 12 months (as an example, you could have bought NT for $0.43).
Other AFFIRMATION OF YOURS:
"he sells his stock , thats it'"
Let's assume it is so and he sold 100,000,000 shares at an average of $0.007 over the last 12 months. That is $ 750,000 less whatever expenses he incurred during that pariod. Personally, I have a hard time that this justifies the scam you presume Veltex to be.
The other question I have is who bought them all? Who, in September 2003 feels reasonnable to buy 250,000, 500,000 even 1,000,000 of these shares and why?
May be some can afford to BET $1,000, $2,000 or $4,000 on such a GAMBLE? Who know? Some play Baccara at Casino where other only play the % cents slot machines.
The key is: "WHO KNOWS".
May be I am...may be not ... who knows???
Time will tell.
Gee are you stupid or just envyous?
Imagine someone sitting at roulette in a casino, having a bet on the table and not hoping (I did not say expecting) to see his number come out. Don't you think this individual would realy be stupid?
If you have shares and write what you do, I realy do not understand your logic ???
On the otherhand, you may be someone that did play the game, lost most of his money and sticks around wishing everyone still playing will loose also. This is less stupid but closer to envy.
Don't you understand that this is a game, the odds are not good, whoever plays may loose or win, having no crystal ball to foresee it in advance.
If Matin had kept his word(s), delivered audited results, and done everything else he said he was to do, we would be making an investment decision.
The reason it is only a bet or gamble is, he did not follow thru ... up to now.
Based on your logic, the weather having been great in NC for the last days and weeks, it will be a great sunny day tomorrow and the day after.
Ho ya!!!!!!
Shall I repeat???
"each of us can beleive whatever he wants, including nothing at all."
"I feel like sitting at a poker table, having my bet on the table, not knowing what cards I was dealt and not seeing my oponent's face."
If you read that to mean that I am an "ACCOMPLICE OF THIS SCAM", you have a curious way to see things.
I do not know what this is all about ... neighter do you!
As per June 10th release, Matin has up to December 10th to fill his commitment to release audited financials.
Last December the 4th, 2002, Matin did release an exhautive plan that obviously wasn't executed thereafter for as much as we can see. I think he was dreaming, over optimistic and even fantysing (if that is a word???)... assuming he was not outright lying...who knows?
Could it be that he intends to repeat the exercise exactly one year later?
If so, I certainly hope he would do quite a lot more realistic analysis of his plans and base it on verified data to start with.
In any case, anything he says from here on will have no value whatsoever, unles it is said AFTER verifyable audited financials will be released.
However we also may be surprised again. The question remains relative to what kind of surprise it will be.
This board being the most reliable source of opinions (no facts realy expectable from such a source) each of us can beleive whatever he wants, including nothing at all.
Ifeel like sitting at a poker table, having my bet on the table, not knowing what cards I was dealt and not seeing my oponent's face.
This is real gambling!
Short of anything else we may as well enjoy the game.
Interesting! I always wanted to understand that.
In my case however, this should not impact me very much since I decided to sit on my shares till something happens one way or the other. I then stand to loose $1500 more or make a killing.
Two scenarios are possible (I do not dare put probabilities on them):
-The company folds and we will have been taken for a ride by a crook.
or
- Audited financials will be released before year end,
- Bottom line will be anything but disastrous (that would send the share at between 5 and 10 cents within few months)
- A reverse split will be done (between 50 and 100 to 1)
- Veltex will get listed on AMX after few more months of trading in the $3 range.
I consider that to be an all or nothig bet.
Assuming Matin not to be a crook, I assume that at some point in time he will enroll someone that understands the "American culture" to help him.
On the otherhand, if he happen to be what some herein think he is, he will have screwed a scam and will have made 10% of what he could have if he had managed it with minimum intelligence.
Personally, I think the guy does try hard, does not listen to the right peoples and runs the risk of living thru a failure, thereby not getting himself rich.
I beleive there is a company operating thru very difficult circumstances and I hope Matin will have the smarts to get the right people on his team.
Finally, I also beleive that we will find out the bottom line pretty soon.
At least the real stocks of mine (including a couple more bets) are financing my game finally...
Best of luck (after all we are gambling) to all.
3,763,500 shares traded within 24 minutes this morning (+ or - $15,000 worth). The average transaction (13 transactions was worth + or - $1150.
This may only be "gambling" but the game is more serious recently.
On the selling side, we either have a Matin desperate for any cash he can get, MM's playing their game or insiders setting themselves up for quick profit. Who knows???
Still it is a fun game but I feel it is getting close to the end. I beleive we will soon be fixed on what this is all about.
By the way, just to say that this type of situation is not necessarely a sure loss even if high risk, I have one of my bet that followed the same type of history VLVT has us go thru. Since mid August, there was somewhat bigger activity on the stock and this morning important volume got the price up 60% within an hour and it is halted since 10:20AM. Called my broker to see who initiated the halt (TSX could have done it and that would have been worrysome) and he told me it was initiated by the company, pending news.
May be we will live thru similar events soon with Veltex ???
For as long as there is life, there is hope. But I do not hold my breath, just enjoy life.
I think you got filled at 11:44:18 AM ???
Interesting to note tha as of now we saw 3 trades, 2 worth $1750, and 1 worth $4100.
Whoever is selling, someone feels that putting few thousands on this horse is worth the risk!
Whatever it means!
I feel that ONE WAY OR THE OTHER, we should find a clearer picture of what this is all about ... pretty soon...
Volume
With the number of deals for 500,000 shares per transaction (it is still $ 2,000 a pop) over the last 2 days, I suspect that:
- The company is getting rid of its last shares (yes at $0.004)
- Some do beleive that chipping in $2000 right now makes some sense.
Somebody in that context, is either getting screwed or being set up for a quick significant gain.
My conclusion is that we should know more before the end of the month, may be even by monday at the opening of the market.
The interesting question is: What will we know?
I feel the wheel to be seriously slowing down ...
And the number is ???
More than $ 35,000 worth of shares were traded today. Some seem to beleive it is worth to bet on this stock at the moment???
Even if all these shares were new ones issued by the company, some people ( in the "know" or not ???) are buying them.
40% 0f the 8,525,300 shares traded today were traded in the last 30 minutes of the trading day.