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We have so many questions. When will we get answers? Does anybody here have any idea? (The Company won't share with us right now any information as far as results of January 2012 legal proceedings).
Just curious, how many Major Shareholders are there that are Not part of the Current Management or Previous Management?
Any Major Shareholders on this Forum? (i.e. anyone here have over 100,000 to 200,000 shares or more?)
Yes, agreed, it would be nice if the Company could provide us with specific information (i.e. Specific Trial Date and Venue in January 2012 and any follow-up trial dates thereafter, Shareholder Meeting - if any, Status of Stock being able to Trade - is or will DTCC Suspension be lifted?)
We need to have realistic estimates as far as End of Litigation Activity, Final Judgment Dates, Shareholder Meeting, Company Plans after Success or Failure of Court Activity, etc..
(By the way, is there still a chance for the Merger?)
What will it take for the Company to openly communicate with us?
We need someone here to find out answers, for example, to the following questions:
If we receive a Judgment showing Veltex entitled to Recovery of Assets, what are the chances of Veltex ever receiving anything?
We need an Update as far as the Future Outlook for Veltex?
Will there be a Shareholder Meeting soon?
What is the Status of Veltex as far as ability to Trade Veltex Stock? (i.e. DTCC Suspension)
Pual, here is an excerpt from the Nov. 9, 2010 Press Release that refers to the January 2012 Court Date:
On July 16, 2010, Blecher & Collins, on behalf of Veltex Corporation, filed a 330 page (including exhibits) First Amended Complaint with the Court. To date, numerous defendants have been found in default by the clerk of the Court and one individual defendant has settled with the corporation under a Confidential and Non-Disclosure Agreement. The Court has set a trial date for January 2012. The corporation is currently reviewing individual state claims against certain named defendants.
Pual, thank you for your efforts in trying to find some info. We'll just have to wait and see. For now, it seems that there is little or no trading.
It's all one big question mark for now.
Best wishes for a Happy New Year,
GratziPrego
Can anyone find out answers to the following questions:
1. How can we Trade VLXC shares?
a.) Is it only possible to trade through Full Service Brokers (Non-Discount/Non-Electronic) now?
b.) Or is the DTCC Suspension across the board for all brokers?
c.) If Suspension is not for all brokers, which broker is able to Trade VLXC?
d.) When will the DTCC Suspension of VLXC Shares End?
2. When is the next Shareholder Meeting?
3. Is there an actual Trial to take place soon (i.e. January 2012)?
a.) When can we expect any Judgments?
4. Is there any Significant Company News?
5. What are Realistic Expectations/Future Outlook for Veltex Corp?
Pual, you mentioned that you just wanted to see if you can purchase some shares at 0.02. Isn't trading in VLXC suspended by the DTCC? Or has the suspension ended?
Also, if you are trying to purchase, it seems that the Bid/Ask spread is 0.01/0.21, which means that you'd have to place an order well above 0.02, right?
This could take a much longer time to be resolved. If the Legal Proceedings start in January 2012 then it will probably take time (possibly months) for the Judge's Decision to come out, right?
Does anyone know the likelihood of a settlement before the Court Date?
It seems unfair that someone is able to trade while some cannot trade. We're wondering "how this is possible?". Will anyone be able to answer this? When will everyone have the ability to trade again? (The likely answer is "when the litigation is resolved", and "when will that be"? In the Year 2012?)
AMTRADE, What are you going to do if Ameritrade cannot Trade VLXC? (And please don't respond with writing "We'll wait and see" or We'll cross that Bridge when we get there")
AMTRADE, What are you going to do if Ameritrade cannot Trade VLXC? (And please don't respond with writing "We'll wait and see" or We'll cross that Bridge when we get there")
You wrote, "I will know for sure in less than a week". That's my point, that as of now, you do not know for sure until you place an order to sell. We will wait and see.
So, you won't know for sure until its been transferred into TD Ameritrade.
Did you specifically mention the Suspension of Trading the Stock relating to DTC?
RE: DTCC (a/k/a "DTC"), Suspension of DTC Services: Veltex
(Click on the Link below to view the Important Notice from the Depository Trust Company.)
http://www.dtcc.com/downloads/legal/imp_notices/2010/dtc/ope/7624-10.pdf
DTC = Depository Trust Company
DTCC = Depository Trust Clearing Corporation
Which Brokerage Firms are able to trade Veltex? (We see that there has been Volume, even though it's been relatively low.)
Does anyone have any idea about when the DTCC Suspension of Trading Veltex Stock will end, if ever? (Probably, after the Court Proceedings, right? If yes, then this would probably be approximately another year from now, is this a decent approximation? - I believe there was some kind of information released mentioning a January 2012 court date)
In addition to what we already know about the DTCC Trading Suspension, will we every receive any kind of Press Release about our inability to trade Veltex Stock? Any reassurance that we'll be able to trade in the Near Future?
Is there anyone here that is able to Buy or Sell Veltex Stock currently? If yes, which Broker are you using? (Obviously, there is some volume indicating ability to trade, but who is it that's able to trade and which Broker is being used?)
Please advise.
Thank you.
Pual, are you actually able to place an limit order for VLXC? If yes, which Brokerage Firm are you using? (Some of us are wondering which broker we can switch to in order to be able to enter limit orders - Which broker(s) should we make the switch to for this?)
AMtrade, it might save you time by asking the folks at Ameritrade first before transferring the shares. They might tell you that they can't trade it.
Does anyone here know of any Broker that can trade VLXC? Any Discount Brokers able to Trade VLXC, specifically?
(Apparently, someone is able to Trade VLXC shares, even with the DTCC Restriction - as it seems that only certain Brokers are restricted - but, the question is "Which Broker should we Transfer our Stock to?")
Pual, you're probably familiar with this statement below. So for those that are unfamiliar, please read simple explanation below:
In simple words, a Theft Loss amount is just a Deduction that can be used to Offset Income (If the Guilty Parties cannot return the Money Back). (Deferred Tax Asset)
It's a Deduction that Offsets Income but is NOT Net Income itself. (It's a Deduction NOT a Straight Non-Taxable Money Reward).
A $100 Deduction is Different then if someone just gave you $100. What you get back is dependent on what your Tax Bracket is.
Formula: Net Deduction x Tax Bracket = Tax Savings
(Net Deduction = Deduction - 40% Attorney Contingency Fees)
(40% is just an Estimate of Attorneys Fees)
Pual, we Agree with you about it being "Pure Speculation" because we have no idea. But it was just for the sake of running a "What If" scenario combined with Conservative Estimate.
Anyone here that wishes to express "What could happen" should make sure that they should understand that If a Theft Loss is determined, the Amount of Actual Savings is in a Form of Tax Savings. For example, a $100 Theft Loss is NOT a $100 Straight Gain, because it is just the amount that the Company, or any Company that wishes to Acquire Veltex, can use to Offset Income. Therefore, the Tax Bracket % times the Theft Loss Amount is the Actual Benefit from the situation (Also, don't forget that the Attorneys, if working on Contingency Basis get a Major Percentage of it too, probably 40% or so, right?)
Here is just a Brief Illustration of Possible Scenario:
For example, IF $100 Theft Loss THEN 40% goes to Attorneys, So it's then a $60 Theft Loss after 40% Attorney Contingency Fee, then we multiply it by the Tax Rate to see what Tax Savings would be. IF Tax Bracket is 15%, THEN $60 x 15% = $9.0 Actual Gain, which would be what is actually gained by the $100 amount after Attorney Fees, with a 15% Tax Bracket.
So, we can see that the Actual Gain ($9.00 in the above scenario) for the Company can be estimated about 9 to 10% of whatever the Theft Loss Determinations (i.e. IF $30 Million Determination THEN $3 Million Actual Benefit to Company After Attorney Fees and Tax Bracket Consideration)
DISCLAIMER: The above explanation is an attempt to Conservatively Estimate any Possible Final Actual Gain to the Company from Theft Loss Determination and is composed of Hypothetical Figures. The Tax Regulations as far as Tax Bracket and Deduction Treatment is Hypothetical also - Please Consult a Tax Professional to verify the implications of Theft Loss.
If the Tax Deduction is 75% of $32 Million, in other words $24 Million, then the Tax Savings would be calculated by Multiplying the Tax Rate (i.e. 15%) times the $24 Million Tax Deduction. 15% x $24 Million = $3.6 Million Total Tax Savings.
If 30 Million Shares Outstanding, Then Benefit to Shares:
$3.6 Million/30 Million Shares = $0.12/share
If stock trades at a Multiple of 5X, then:
0.12 x 5X = $0.60/share
Disclaimer: Please Note that Amounts and Computations above are based on a Purely Hypothetical Scenario, and Not Advice to Purchase Shares. Please invest responsibly.
It doesn't even have to go to court. When the Defendants realize how determined Veltex Attorneys are, they might just want to offer settlements to avoid major court expenses and embarassment. If they don't settle, the Defendants may be headed for much deeper disappointment.
The main questions we need answers to are:
Will the Defendants offer Settlements?
If yes, when will Settlements occur and how much will be offered?
Anticipation of these possible Settlements alone should have already, or might soon, have effect of "jacking up" the Stock Price. Receipt of the Settlements would put Veltex in a position to implement a Major Buyback. Settlements, or the possiblity thereof, creates Great Incentives to "Buy, Buy, Buy", thereby adhering to the Philosophy of "Get In to Win", where "Membership has it's Privileges", in this case the Privileges, are "Making the Big Score" as far as Investment Gains.
Even though there is a "Cloud of Uncertainty" there is also a "Silver Lining" of Optimism, due to our having the Unwavering Support of Competent Attorneys determined to Seek Justice for Veltex.
Does anyone wish to guess the likelihood of recovering Cash down the line? If yes, when and how much?
Also, if and when Cash is received, will the Company use the Cash for a Stock Buyback and Buy a Significant amount of Shares, to increase Shareholder Value, and in Anticipation of Future Stock Price Increases?
RE: 2011, "Twenty-Eleven is gonna be Heaven!" Happy New Year to all...wishing you Success & Happiness.
Have F.A.I.T.H. (Full Assurance In The Heart), we'll be okay.
I agree that we'll have to WAIT N' SEE what happens with the Courts (or Any Out of Court Settlements possibly).
In the meantime, it seems that it's HIBERNATION TIME for an Indefinite Period of Time. The Wheels of Justice Move Slow, but hopefully it moves in the right direction. (It could be many months before we see "the light at the end of the tunnel".
Do you have any Forecasts for the Near Future (i.e. Next Month, 3 Months, 6 Months, 9 Months, 1 Year or more)?
The Constant Frustations that have been existing with this Stock for a long time is the Wide Margin of the BID/ASK SPREAD (Currently about .05/.09) AND the Very Small Volume that seems to Create Dramatic Price Swings (Dramatic and Traumatic sometimes).
The Volume has been Too Low for Too Long.
Anyway, Happy Holidays.
Wishing you Success in the New Year, with Good News for Veltex.
Pual, can we expect any Significant News soon? Or will it take many months?
As long as the Volume is Low like it has been for so long, it doesn't matter what price is stated because the Stock is Too Thinly Traded at this time. (i.e. One day it's quoted as 0.01 with hardly even a few thousand shares traded and the next day it's about 26,000 shares or so and quoted at 0.08.)
However, according to Press Releases recently it seems that it's a "Work In Process", thanks to the Dedicated Management in Place. They seem to be working hard to get the stock to rebound. Hopefully, all the hard work pays off with Good News. We just need more Certainty as to When we can expect Major News, if any.
What I'd like to know is why only 3 of us Posters here are mainly posting for the last 200 Days or so (GratziPrego, notanindex, and Pual)?
I'm not gonna call us the Three Stooges, but it seems kinda silly here how it's just us Three mainly, and not enough interest outside of us here on Investorshub.
Is there enough interest outside of this Avenue of Communication (Investorshub) to have significant impact on the Stock Price?
The Main Question we all have here is "can we expect some kind of Big News very soon or will it still be a long time from now?"
If there WILL BE Big News soon, then WHAT WILL BE the Big News?
Are there Potential Major Investors keeping their eyes on Veltex?
Does anyone here have any idea about what, if any, SIGNIFICANT ACTIONS/PRESENTATIONS will take place at the Annual Shareholders Meeting in Chicago?
It is definitely an exciting time for Veltex Shareholders. There seems to be a lot of Potential. Hopefully we'll be updated with Good News soon.
Happy Holidays and Good Luck to All of us.
Questions:
1.) Most Brokerage Houses have been ordered to Suspend Trading - does anyone know which ones are allowed to still trade?
2a.) Why wouldn't the Suspension of Trading apply to all Brokerage Houses?
b.) Is it because the SEC or other authority is possibly investigating for the Shares that are in the custody of the Stock Manipulators/Inside Traders/Former Management and related parties?
c.) If yes to question 2b, then can we expect shares of Suspected Stock Manipulator(s)/Inside Traders to be Canceled soon? (This would have an enormously positive effect on our positions/percentage of ownership.)
3. Will anyone here research these questions by contacting competent personnel that specializes in these types of cases?
4. When can we we expect the Suspension to be over and Trading to Resume?
If anyone can answer any of these questions, it would be greatly appreciated.
Thank you,
Gratzi
What do you think Stock Price will be by Year End December 31, 2010? (Please don't respond with "I don't know" or with "IF...THEN" Statements.
Just throw a number that you have a "GUT FEELING" about.
My guess is around .12 or higher. (Of course, IF they recruit a significant amount of New Investors THEN, this could jump to 0.20 or higher - Oops, I just made an IF...THEN Statement, but that's o.k. because I initially posted the GUT FEELING STOCK PRICE in the beginning of this paragraph - Ahahahaha!)
One thing we can feel confident about is that Current Management is trying it's best to Communicate Honestly and Cautiously not have anyone be "led on". Current Management displays Integrity and Conservatism in the Release of Projections (Cautiously Optimistic). Management is operating in a "Clean" way.
We appreciate Current Management's Recovery efforts. What worries and frustates us is the part about the Court Date being in 2012, a long time from now. It could take years for any final resolutions, and any of us recover damages.
However, between now and 2012, who knows? Maybe investor interest will increase and we'll see this stock fly up. We really have no idea. What we do know is that Current Management is making serious efforts to recover the damages caused by Previous Management. This should be appreciated by all of us that have been long time investors (and victims of the stock manipulation of the past).
Pual, we share the same sentiments as you. Right now the stock is trading at little or no volume. So if the price one day says .08 or .12, it's just quoting either what the Bid price side is one time, i.e. .08 or what the ask price side is, i.e. 0.12.
The Volume is so small. We can't take this stock seriously until Volume reaches at least 500,000 shares or more (and on a Consistent Basis, not just 1 or 2 days or just Once every 10 days).
Also, we don't know right now the likelihood for Success regarding the items mentioned (Merger, Litigation, Nasdaq Listing, etc...) - but it seems like a good time to just Hold, Wait & See what happens, because there is a lot of potential for Good News based on what the Press Releases imply.
We just have to "Wait & See" - hopefully, sooner rather than later, we'll get a Press Release clarifying what will happen in regard to Merger, Litigation, and any other items.
We've all been waiting for a long time to see that "Light at the End of the Tunnel".
Best wishes for Success.
Pual, just trying to get some analysis going here.
Anyway, what is your opinion (and everyone else here) about the direction of the stock; Crash Down, Sleep Still at .08/.12, or Fly Up? (Please no more "IF...THEN" statements - just state your opinion about where it's going - Thank you.)
Please state your Target Prices to sell (or buy more if it crashes)
And provide Probability of Merger Success, Litigation Success, Nasdaq listing, Possibility of Shares Buyback, etc...
Questions for Veltex Investors:
1. Approximately when do you believe we'll receive a Press Release reporting whether the Merger will take place or not?
2. What is the likelihood that the Merger will happen?
3. What is the likelihood that Veltex will recover Cash?
4. Approximately when do you believe we'll receive a Press Release reporting any Litigation/Cash Recovery results?
5. What are your Target Prices and/or Target Dates to Sell? (Are you waiting for Merger Results/Asset Recovery Litigation results in order to make a decision?)
6. Does Veltex have a chance to be listed on the Nasdaq if the Merger takes place due to the Financial Figures of the Merger Candidate? (VLXC, of course would have to meet the minimum Stock Price requirement in addition to other standards)
(Forecast: Merger News Acceptance/Rejection Soon - within a couple weeks or month or so. Litigation Results - could be months or years)
Insider909, Who do you Prefer to Manage the Company, Matin or Macklem? Do you admit that we have a much better chance for success with Macklem compared to Matin?
We know for a fact that with Matin for years we were led to believe that there would be Audits performed to verify the "impressive" Financial Statements that Matin & Company kept on Touting and Teasing us with.
Whose side are you on, Matin or Macklem?
Insider909, Who do you Prefer to Manage the Company, Matin or Macklem? Do you admit that we have a much better chance for success with Macklem compared to Matin?
We know for a fact that with Matin for years we were led to believe that there would be Audits performed to verify the "impressive" Financial Statements that Matin & Company kept on Touting and Teasing us with.
Whose side are you on, Matin or Macklem?
Insider909, Who do you Prefer to Manage the Company, Matin or Macklem? Do you admit that we have a much better chance for success with Macklem compared to Matin?
We know for a fact that with Matin for years we were led to believe that there would be Audits performed to verify the "impressive" Financial Statements that Matin & Company kept on Touting and Teasing us with.
Whose side are you on, Matin or Macklem?
It's Two Items to Consider:
1. Investors have not currently reacted much to the Press Release about upcoming Legal Actions because investors are reacting with a "Wait & See" Attitude.
2. VLXC stock can rise significantly IF and WHEN Legal Actions yield positive results
The MAGIC WORD is "RESULTS"
(The Bottom Line is: In order for VLXC to rise significantly, we need a Press Release that shows Results, Not just what is Anticipated - but we're in a more optimistic position since the news came out about the possibility of recovering assets as opposed to no news. The Press Release is evidence that Management is trying to revive the Company).
VLXC exhibits a lot of upward potential. It's just seems that it might be a long legal process. We're all gonna just "Wait and See". If you don't own any shares you might regret it "if and when" the Stock Price Flies.
Notanindex, we appreciate your optimism when you state the following:
"Even adjusting for probability of success (given the level of the law firm in this area of expertise) and adjusting for final payout amount this makes VLXC at least a double or triple here."
But, it's been about 10 days since the news, and who really knows and has been taking it seriously besides those already invested in Veltex? When do you estimate that the stock price will double or triple? Again we ask you, WHEN DO YOU ESTIMATE THAT THE STOCK PRICE WILL DOUBLE OR TRIPLE? (please be more specific, for example; within a month or so, or longer, you expect the stock price to double or triple?)
This legal case(s) could be tied up in the Courts for a very long time (i.e. months or years perhaps). And even when it is resolved with a victory, the payment plan could be arranged in a form of installments over an extended period of time. Do you agree? (This is why "we should "keep our pants on - she's not ready yet")