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My initial guess is that the shares were issued to generate capital to use as downpayments on more trucks.
You can get a car with 0 down but I do not believe you can get lease returned commercial fleet vehicle with the same terms. Each truck would require some legitimate cash downpayment plus evidence of a revenue stream to qualify the remaining financed portion. Insurance costs would also be up front when putting a new truck on the road.
Downpayment and insurance costs per truck would require vlvt to spend the cash they had in the bank plus issue some more shares.
Hopefully that is where the shares have gone.
Robert
Great dialog here. I agree with a many of the points. A good and effective press release should contain not only the info being released, but also possibly supporting comments such as.....
"We have entered into and agreement with company X, Mr. X president of the company X said "we look forward to blah blah blah"
My intention of asking the questions is not only for the collection and personal confirmation of many things I already know and/or believe to be true, but also to provide in one place a list to some of the most important details a new investor might want to know. I do not expect the list to be every question I ever want answered, but at least enough to satisfy ones curiousity into the real happenings at VLVT.
Once I have the list of answers, I will provide it to the posters here and also those interested from ragingbull.
Keep up the quality discussion
Robert
No problem, I knew they were.
Perhaps I could append a list of investor's "suggestions" or "improvements" to the list of questions. That would at least be a positive contribution on our part as well.
How about that? Questions and Suggestions.
Thankyou,
Robert
Excellent Q's. I'll add them. As we post I see sstfn posting more high quality contributions to the rb board. I believe that is the basic motis operandi of those idiots, flood the board with noncsense posts so that there can be no intelligent discussion positive or negative regarding VLVT. Obviously they have nothing better to do with their time.
Once again, welcome to Ihub and keep up the good posts.
Robert
Just post them here if you wish
or if you would rather keep them confidential at this time you can mail me at
robertmay@canada.com
Robert
Do you have any questions you want me to ask Matin on behalf of us shareholders?
Robert
Welcome Bp,
a little less of the 'vlvt smells' sort of quality posting here. Not a huge volume of posters but all the good ones,lol.
Robert
I am forwarding a written list of questions to Mr. Matin for answering on Monday. If anyone has any contributions to the list of questions please post them here or forward them to me via PM. I will try to keep the total down and ask as to the point questions as possible.
Robert
Wow, today the selling in VLVT cam to a halt. This was reflected in upward pressure in the share price and noticable change in volume.
Tough to say where there will be upward resistance when it starts to move. Last high was 10 cents, but with so many investors getting shares at 4-5 cents, there could be some taking the double and selling at 9 cents if it starts moving that direction.
Anyway you slice it, it was an improved trading day for VLVT.
Robert
Dec. 16th stock closed at 11.5 cents
Is anyone here trading it on its moves or are most strictly holding for the longterm (relatively speaking of course).
There was a new acquisition in the works, anyone have any news on progress or details of it yet?
Robert
Let my think about it for a bit danrod. Any of the methods that I would use will only get you $5/hr on average, but with a high wager limit of 50 there might be some other options.
I've got to write it down and take a look at it on paper.
I'll get back to you tomorrow on it.
Thanks for the info so far.
Robert
Email any complaints you may have regarding attempts to influence stock price or posting of false information to:
mailto:enforcement@sec.gov
If nobody sticks up for themselves nobody else will.
Hmmm, that might make it a slow way to make a few $$$$$ with a maximum wager of roughly $5 USD.
On north american machines the wagering cap is most commonly set at 20 credits. On a machine like yours it should be fairly reasonable to assume a postive cash flow of possibly 30 to 50 credits per hour. Now in the US and Canada, that is 30 to 50 dollars an hour, which is great for playing a game. In Venezuela, that would only work out to be $3 - $5 per hour which doesn't seem that good, but I guess it depends alot upon the cost of living.
DanRod, if a person won $5 USD per hour, would that seem like a very small amount or is the cost of living there much less expensive than up here?
Robert
Well they are sure a bunch a idiots. Renia posting that trading was halted??? That sort of post of intentional misinformation is a crime. I wonder if Matin will take any action against these blatant attacks and attempts to discredit VLVT.
Robert
It is a fairly inexpensive trip actually. I believe comparable to the price of going to Cuba or the Dominican. If I wasn't so poor these days,lol.
Robert
That is a great machine. Your average odds are much higher than the majority of the sega machines.
Do you happen to know what the payout percentage is set at? The tech or gaming guy in the casino can tell you, it is likely somewhere between 90-93%.
Also, what sort of currency do you use in it? How much is 1 credit worth in US$ or C$?
Robert
I can't sell it. TD would charge me about double the value of the shares,lol. I'll just leave it there until it's worth a million or so. I think even calling the cert would cst $30 from TD. I never even look it up, it was the first of a great winning streak.
Robert
AXGI - first stock I ever bought. That was many years ago. I still have a thousand shares or so in my account that I paid something like $2.00 for,lol. Go AXGI!!!
dagnyish
any sign of any former board members posting over there tonight? Sounds like a pretty jilted guy trying to cause trouble any way he can.
Robert
Danrod, did you get my last message? Can you please post some of the race odds for me?
Robert
Excellent post pual.
We share the same sense of healthy skepticism that probably makes us much more cautious and conservative gamblers,lol.
Specific information would definitely lend credibility to the VLVT story as it unfolds. I look forward to that which is volunteered and that which we have to dig up through alternate channels.
Robert
Welcome roger,
I have a call in to some trucking guys down south, I'm trying to get some opinion from some of the guys on the road down there as to how busy things are in that area and to see if any of them have any experiences with multimodal/veltex.
Robert
Hi pual,
there isn't an ignore function but there is a delete function. All messages that are nothing but trash such as 'vlvt smells' or other such childish repetitive crap will be deleted immediately. Repeat offenders will have their account terminated.
That sort of zero tolerance policy keeps the boards a little quieter than RB but of higher quality.
I'm still digging up VLVT info but have already made 2 purchases for a total of 56,000 shares. Each day I see the price start to drop I'll throw another buy in for 20-30K until I reach my target amount. You are right though, it may be until 04/01/03 before things start to happen. The filings are the key event right now for most investors, but as long as I can continue to find verified information regarding the expansion of real operations, I will continue to take the risk here.
Robert
once again, welcome to ihub.
Hi Danrod,
my method will help you win on the WIN wagers, but will also be a useful indicator for the Quinella wagers.
Have you recorded any race odds that you can post here?
For example: (3,4,5,15,30,12) (2,3,21,42,3,7) etc.
I have only found one of the old machines still in use and it was also in south america. If you have one on Margarita Isle, I'd be there on vacation,lol.
Robert
FOR IMMEDIATE RELEASE
Rocky Mountain Energy Corporation ........................
12/13/2002 Shareholder Letter .....
Rocky Mountain Energy Corporation Announces
Shareholder Letter
Houston, Texas - December 13, 2002 - Dear Shareholder: This week we saw some good activity in our stock. After having been controlled by the shorters, with price declining, our stock reversed itself. I am glad to see our story is getting out there. During the decline in price many of you contacted me via e-mail and phone. I believe it appropriate to address some of the more common questions at this time:
What is a naked short? A naked short occurs when someone sells stock that he does not own betting on it going down in value. He then will buy in at a lower level to fill the order that he sold, thus keeping the spread. An example of how it should work is as follows: 1. Assume the stock is selling at $0.15. 2. A naked shorter decided to sell 50,000 shares he does not own at $0.15, betting it goes down. 3. If it goes down to let's say $0.13 he buys back in at $0.13 and then keep the $0.02 spread. Conversely if it goes up, he will lose on the transaction. The problem is that this is not how it is working in actuality. In fact, naked shorters have sold millions of shares on us to hold the price down artificially. For example, if it was selling at $0.15 they could offer shares for sale at $0.14 to pull it down. In my opinion, this is not shorting; this is manipulation of our markets. An example of what went on last week during our price decline was that shares were being purchased with very little selling, yet the "ask" kept being pulled back down by market makers on buying. The naked shorters would sell enough shares that they do not own into the market to insure that, absent a great deal of buying, the price would go down. If one is controlling the price going down then "betting" on it is not such a risk. The problem is that I believe these folks are breaking the law.
"Ameritrade will not let me buy stock," and "Ameritrade will not provide me with a stock certificate." As of today the stock is now being traded by Ameritrade. Ameritrade was hurt in the "GMXX" matter and wanted to steer clear of us for similar, if not the same, reasons. GMXX was getting shorted to death. They knew that if they went off of DTC (in other words not trading electronically, but with paper certificates only) it was impossible to short the stock. Accordingly, GMXX went to paper certificates. Ameritrade was caught in a large short position and was forced to cover (i.e., buy shares in the open market to provide the actual certificates). Of course, this caused a "short squeeze" and the share price shot up significantly.
Ergo, when Ameritrade heard we wanted to see certificates in order to issue the dividend, Ameritrade ceased allowing buy orders in the stock "to protect our clients and insure delivery of the shares." Their letter to me further stated that they had already encountered a few difficulties in delivering shares. As of December 12, 2002 Ameritrade is allowing buying of the stock, but they did slow our buying down and helped short positions as a result. Ameritrade then automatically credited the dividend to the accounts prior to our settlement date. This eliminated any incentive for people to demand the certificates, and in my opinion, they dodged a bullet. If you have an account at Ameritrade I would urge you to help us by insisting on a certificate. One of our shareholders, a Mr. Bruce "B" e-mailed the following instructions to get a certificate: (a) go to Ameritrade web page, (b) click to account services, (c) scroll down page to click on request stock certificate, and (d) the cost is $40. Those in with other Broker houses holding stock in street name , we also urge to call for certificates.
"CUSIP Number Change" We still plan to do that. It will force the naked shorters to cover at that time. This is not a "cure all" however, as it will only hold them off for a few weeks and they will just come back at a higher stock price and do the same again.
"Go to Paper Certificates Like GMXX?" We could do so, but it kills our liquidity because every trade has to be matched to a certificate at the time of sale. This would be a last resort, not one that we want to accept at this time.
My Commentary We will beat the naked shorters on a permanent basis by simply following our business plan. It is disconcerting to see the price decline. No one wants to see that. My family has 5.5 million shares (Section 144 restricted), so we want to see it go up as well, as our shares are restricted, and not available for sale until 2004. That should put to rest any doubts as to my long-term objectives. Who among us however believes our price will increase every single day? Our stock is one that is built on a business plan that lends itself to a long-term hold, not daily fluctuation trading.
Last week I received e-mails and phone calls of "do something," and "put out a press release, help the stock" etc. Although I understand the sentiment, I cannot agree with the strategy. We must go forward with our business plan and put out press releases as appropriate. We do not "play" the stock on a "day by day" or "hour by hour" basis. We are building a business and the share price will take care of itself. We are building a business founded on sound fundamentals. We are getting our story out to potential shareholders and generating interest. As such, as we progress, the value we add should be reflected in our share price. In keeping with the building of the company we purchased the controlling interest in the Raton Basin properties we had alluded to last week. The acreage position is in excess of 16,800 acres located in the prolific Trinity gas field of southern Colorado and northern New Mexico. Proved undeveloped reserves are estimated at 200 billion cubic feet of gas. Taken with Wyoming, this is 250+ billion cubic feet of gas total. These reserves have yet to be developed, but present us with immense cash flow potential in the future. We are continuing to negotiate some high cash flow properties as we alluded to in our last few letters. So far, we have lived up to what we have said we would be doing. We hope to continue. If we are successful in negotiating the purchase of these assets, as I have every expectation that we will, then the naked shorters will be buried. They cannot fight assets with cash flow and further upside cash flow potential. This acquisition will be different from the previous acquisitions because this acquisition will generate immediate cash flow and earnings, and does not have to await development as the above. Of course, there is no guarantee that we can close the transaction involved, but we believe we are on the right track. That is what you want to build a company upon, not maneuvers to beat shorters for a time, but delivering value to shareholders, which knocks out any such shorting. This is not done in a day or a week. We have to think and plan long term, and we hope our shareholders share that vision. We thank you for your continued support and hope to have some news soon.
About Rocky Mountain Energy Corporation
Rocky Mountain Energy Corporation, based in Houston, Texas, is an emerging developer of proven oil and natural gas reserves with assets in the resource rich area of the Rocky Mountains. Rocky Mountain Energy's diversified production mix allows us the opportunity of high cash flow with predictable production. Rocky Mountain Energy's strategy includes a property mix of producing and non-producing assets. The producing properties provide immediate net income and cash flow while non-producing assets will provide Rocky Mountain Energy with future development opportunities, and ultimately, reserves at a reduced cost. With a management team that has over 100+ years in the oil and gas industry, Rocky Mountain Energy knows how to increase production, expand profit margins and maximize field potential. Its team of highly qualified technical professionals can examine old wells and find indications of producing zones that have never been produced, as well as develop the known proved undeveloped reserves which are the basis of any acquisition.
Company Website: http://www.rockymountain.cc
Rocky Mountain Energy Corporation
John Ehrman
President / CEO
email: Jehrman@rmec.org
voice: 281 448-6500
All this week the stock tested 4 cents. I watched on wednesday as selling took it down there fairly hard but there seemed to be some support there at that price. There was 1 trade just under 4 but all the rest went off at 4 cent or better.
With all of this recent volume at 4 cents there should be a good base there now. Hopefully we will see some value added when more trucks hit the fleet. I too agree things may remain very quiet until audited financials and an otc listing occur.
Robert
Here is a link to some pics posted by dagnyish
http://dagnyish.tripod.com/veltextruckpictures/
Thanks for the info.
With BET^) you were able to guarantee wins and profit with the old chip. With the new chips the BET60 can onl elp you determine if the machine has taken in more or less than its preset percentage. Example. A machine that is set at 90%, when having paid out 91% will want to consume more money to get back to its setpoint. It will be very bad to play and have very bad numbers. Lots of 2 and 3 dollar horses in every race. Longshots can still occur, but they will pay less than they would when the machine has only paid out 89%. When it has only paid 89%, it needs to give away some money and will adjust the horses odds until it gets back to the setpoint amount. At this point you will see races with no horses lower than 4 to 1 odds. The longshot horses will all pay over 60. This the most profitable time to play it. Hope that helps you a bit.
Robert
Hi Bernard,
no Casino Montreal is the new chip. I played there almost 2 years ago and they ahd already changed it then. If you use the BET60 method though you can tell how good the playing is though.
Figure out how many credits you would need to wager on each of the 6 horses to win to return you a 60 credits win. Add up those 6 amounts for a total. The closer that number is to 60 the better the average payout will be. If the 6 wagers combined total over 70, you are playing against the maximum house advantage possible. Anytime it is under 70 it is much much better.
Have a great time there.
Robert
Danrod, can you verify the numbers on your sega for me. On the large video monitor it will say 1991. But on the individual betting monitors in the lower right corner of the screen what does it say? Watch the lower part of the screen and as the new races appear there are some copyright numbers. Check and see what numbers are shown there.
Robert
Welcome to Ihub dendanrod.
Robert
From today's business wire
http://www.businesswire.com/cgi-bin/f_headline.cgi?bw.121002/223440225&ticker=VLVT
BW0225 DEC 10,2002 6:15 PACIFIC 09:15 EASTERN
( BW)(CA-IPODESKTOP.COM)(VLVT) ``Veltex's trucking division ramps up to support increased demand'': A Web Radio Series Featuring Interviews with CEOs, by IPOdesktop.com
Business Editors
LOS ANGELES--(BUSINESS WIRE)--Dec. 10, 2002--IPOdesktop.com presents "Veltex's trucking division ramps up to support increased demand," a web radio show with Andrew Friedel, President and COO of Veltex's trucking subsidiary Veltex Transportation, recently acquired by Veltex (OTC:VLVT). VLVT is a diversified holding company comprised of four divisions: Trucking, Distribution, Manufacturing and Marketing.
CEO Guest: Andrew Friedel, President and COO of Veltex's trucking
subsidiary Veltex Transportation
Show host: Francis Gaskins, Editor, http://IPOdesktop.com
CLICK TO LISTEN: RealAudio: http://gaskinsco.com/vlvt5.ram
Windows Media: http://gaskinsco.com/vlvt5.asx
(If these are not direct links simply copy and paste to your Internet
browser to listen to the interview.)
RADIO SHOW AGENDA
UPDATE FROM THE CHAIRMAN
-- VLVT expects to start an audit with a respected firm in Q1 2003
-- Expects to become fully SEC reporting and move to the appropriate
stock exchange
-- Balance sheet: $500,000 cash, $11 million in total assets, minimal
debt
-- Strong cash flow
TRUCK ACQUISITION REVIEW
-- Recently added 20 trucks for a total of 66
-- Expects to purchase up to 95 more by year end
-- Plans to purchase another 100 during Q1, 2003
PER TRUCK ECONOMICS
-- Revenue: $15,000 to $20,000 monthly per truck
-- Pre-tax profit: $2,000 to $4,000 pre-tax monthly per truck
100 TRUCKS are expected to generate
-- Revenue of $1.5 to $2 million per month or $18 to $24 million per
year
-- Pre-tax profits of $200,000 to $400,000 per month or $2.4 to $4.8
million per year
DEMAND FOR VLVT'S TRUCKING SERVICES
ARCHIVED VLVT RADIO SHOWS
http://gaskinsco.com/VLVT.htm (click)
Forward Looking Statements
http://gaskinsco.com/forwardlooking.htm
About Veltex Corporation (http://www.veltexcorp.com)
Veltex Corporation is a diversified holding company comprised of four divisions: Trucking; Distribution, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Manufacturing, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and Marketing specializing in online marketing and promotions for the vacation ownership industry. Trucking and distribution subsidiaries are located in Memphis, Tennessee. Manufacturing is located in Bangladesh. Marketing is located in the headquarters offices in Diamond Bar, California.
--30--jc/la*
CONTACT: Veltex Corporation, +1-909-612-0012
Javid Matin, 1-866-4-Veltex (Toll Free)
veltexusa@msn.com
or
BJM and Associates (Investor Relations), +1-810-923-0455
bjmandassoc@hotmail.com
KEYWORD: CALIFORNIA TENNESSEE INDIA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: ADVERTISING/MARKETING APPAREL/TEXTILES
MANUFACTURING TRANSPORTATION
SOURCE: IPOdesktop.com
1.2 million traded today. All just under and at 5 cents.
Robert
Is there a legitimate reason that RMEC has fallen back today, I tried to read RB but it is a bunch of crap. If anyone here can give me the cliff notes verion of anything that might have happened it would be appreciated.
Robert
I have one that is made by a swedish guy that hasn't hit the market yet, he is still dealing on it, but it uses flash and is really s slick looking game. It incorporates odds, comments, and realtime chat between players. It has more potential but he hasn't struck a deal yet as far as I know.
Then there is the failed game of Racingo, the virtual game Trackside, unreal racing, digiturf, raceclubs, raceday, horseracing deluxe, stablemasters, arcade derby, to name a few,lol. You can gamble or make money on a few of those, a couple are just for fun. There are about a dozen other horseracing games out there that are just PC playable, but there is nothing preventing them from becoming networked gambling games. It would be a small step in their development.
Robert
1 million volume, price unchanged today. EOM
.49 by .51 today. Closed down hard. Still no evidence or explanation of why the price went up and down. Great for traders I guess.
I don't believe the bashers on RB have any effect at all on the share price. All they acheive is to disrupt the board and prevent the sharing of research. I imagine that guy has a personal axe to grind and has no other legal means to vent his frustration. Nobody long or short should be that obsessed with any stock,lol. I try to avoid ignoring anyone as I want to know the good and the bad of every stock risk I take, but this board is certainly an easier read.
Robert
High of .79 closed at .71
The flow of water may have caught up to the flow of shares. It is long overdue.
Robert
OT: calahan
regarding short selling by market makers
It is much akin to going to Las Vegas and playing games in a casino. You know all the rules of the game and that the house odds are against you. Those who play are doing so at their own risk. Some hit big. Most lose. That is exactly like the otcbb.
Complaining about the rules or the house advantage will not accomplish anything. Lobbying to change those rules might, but if the house loses its edge, they will just shut down the game.
The reality is that we either play the game under their rules and do our best not to get screwed, or else we sit the hand out. I try to do a little of both, but I guess it depends upon ones risk tolerance level and how much money you have to gamble with.
Robert