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.
Good to see others coming over here...
The discussions are relevant and sometimes very informative!
I am very disappointed in the current price of the stock, but as mentioned by Roger ("Paul"), it does seem that it is getting played with by professionals (MM's or daytraders). The price seems not to reflect the current conditions of the company (in the hope that customer demand is growing, an audit is almost completed, a website will be updated, etc.). As many others on this board, aka shareholders, I am very hopeful this company will prove itself in the near future!
comments?
"Mrs. Duff,
As I mentioned on the Ihub board, which I now understand you to visit frequently, your words in reference to this company are highly regarded and respected. As an outsider, I'm sure your knowledge is limited, yet you never fail to disclose what you do know about the Company. You mention in your e-mail that there is nothing that indicates to you that Veltex is operating unethically (atleast that was my take on your words), and this is why many shareholders are still believers as well. Going forward, I hope you do not mind that I share these e-mails with the others on IHub, since many others understand your noteworthy contributions to the Company and also your reputation throughout your financial servicing career. Many have mentioned that they would be strongly second guessing their investment decision in VLVT if your association was non-existing.
So again, I thank you for your time and honesty on the matter. Hopefully we will all see this company profitable in the near future (AND AN AUDIT!!!).
Best Regards"
"Hello (my name)!
Thank you for the kind words on iHub. Now, I wish someone would put Textile
Guru in his place! Unfortunately, the courts no longer uphold slander laws
as they should.
The most important thing to remember about Veltex is that it is a small
company that has taken some justifiable risks in order to become a big
company. Sometimes those risks don't result in the expected outcome.
Sometimes the CEO must do things he would rather not do in order to keep the
company moving forward and, hopefully, upward.
As a consultant, my suggestions are not always heeded and I don't agree with
certain things that have been done. Nevertheless, nobody shoulders the
burden like the CEO of a company. The decisions a CEO makes, though perhaps
not the best in hindsight, are made given the information available at the
time. Sometimes these decisions must be made in haste.
Contrary to what some say about Matin, he is not taking $millions out of the
company. Quite the opposite. He is personally paying a lot of the bills
until that !^@&*@(!!!# audit comes in and some relief measures can be taken.
[of course, that is a simplification]
If I thought he was a crook or an idiot, I wouldn't work with him.
That said, I can be fooled. But in this case, I see nothing to indicate
that my perceptions are incorrect."
Victoria Duff
I truly appreciate the respect and honesty V.Duff provides....
Mrs. Duff, if you read this board, I hope you do not get insulted or affended in any way for me to post our conversations through e-mail. The fact is that with your reputation in the business and all the contraversy that goes on with Veltex, your word is highly regarded and should be expressed to fellow shareholders. I truly feel that your presence at Veltex gives "us", the shareholders, hope that this company is operating as a respectable company. With that being said, I would like to copy the e-mail I have recently received from you in the hope that others will see some truth behind the walls of Veltex:
My letter to be posted first:
Goodmorning Mrs. Duff,
>
> I have not spoken to you for some time and was wondering if
> operations are still flowing smoothly inside Veltex Corporation.
> I recently mentioned to Mr. Matin that it would be a good idea
> for the Company to update the website. He replied that he just
> signed a contract with an unidentified company and he would send
> me a "draft" (not so sure of the computer term, maybe "proxy")
> for review and suggestion. I was wondering if you were aware of
> this activity? Also, it's been about 3 months since the audit
> should have been completed and it is in the best interest of the
> shareholders if we knew that things were coming together! I'm
> sure you understand the situation and would love to know your
> insight on the matter. Thank you for your time and I hope to
> hear from you in the near future!
Mrs. Duffs response:
"The new website will be up this week, I hope. It is a vast improvement
over the other - it is in good taste. ;o)
(my name), everyone is working hard. Business is good. We all hope the audit
is completed soon.
I have recommended a PROFESSIONAL investor relations firm to Mr. Matin and I
hope he hires them. It would be a big improvement.
Other than that, hard work is pretty boring. ;o)"
Thanks!
Tory
Victoria Duff
Founder & CEO
Bold Ventures Group
http://www.BoldVenturesGroup.com
duff@BoldVenturesGroup.com <mailto:duff@BoldVenturesGroup.com>
Toll Free: 888-436-8440
Direct: 310-514-1913
Again, I hope you understand my intentions posting our conversation on this board. The Raging Bull site is a bunch or crap and there are respectable intelligent investors here on ihub that should also be aware of your respected comments. I hope this does not interfere with future conversations, since I have always appreciated your time, honesty, and cooperation with my concern! Thank you for understanding.
This was the e-mail I sent to Mr. Matin in the first place (regarding the website):
>Mr. Matin,
> >
> >I understand that the company is growing and has limited funds for
>company
> >expenses. A worthwile expense that I see very substanial for the
>growth of
> >the company is to update the company website. For instance, Veltex
> >proclaims that OTC Live is still the company's IR firm when it hasnt
>been
> >for some time now. Also, it would be a good idea if the website
>actually
> >produced some pictures that would demonstrate the companies
>acquisitions of
> >the trailors and the recently purchased trucks. These things can very
> >easily be accomplished and would mean a great deal to A) the investment
>
> >communtity B) Veltex customers C) New customers. No one should be left
>in
> >the dark regarding the accomplishments the company has recently seen
>and an
> >updated website can answer a lot of those questions. I look forward to hearing from you.
I truly appreciate the respect and honesty V.Duff provides....
Mrs. Duff, if you read this board, I hope you do not get insulted or affended in any way for me to post our conversations through e-mail. The fact is that with your reputation in the business and all the contraversy that goes on with Veltex, your word is highly regarded and should be expressed to fellow shareholders. I truly feel that your presence at Veltex gives "us", the shareholders, hope that this company is operating as a respectable company. With that being said, I would like to copy the e-mail I have recently received from you in the hope that others will see some truth behind the walls of Veltex:
My letter to be posted first:
Goodmorning Mrs. Duff,
>
> I have not spoken to you for some time and was wondering if
> operations are still flowing smoothly inside Veltex Corporation.
> I recently mentioned to Mr. Matin that it would be a good idea
> for the Company to update the website. He replied that he just
> signed a contract with an unidentified company and he would send
> me a "draft" (not so sure of the computer term, maybe "proxy")
> for review and suggestion. I was wondering if you were aware of
> this activity? Also, it's been about 3 months since the audit
> should have been completed and it is in the best interest of the
> shareholders if we knew that things were coming together! I'm
> sure you understand the situation and would love to know your
> insight on the matter. Thank you for your time and I hope to
> hear from you in the near future!
Mrs. Duffs response:
"The new website will be up this week, I hope. It is a vast improvement
over the other - it is in good taste. ;o)
(my name), everyone is working hard. Business is good. We all hope the audit
is completed soon.
I have recommended a PROFESSIONAL investor relations firm to Mr. Matin and I
hope he hires them. It would be a big improvement.
Other than that, hard work is pretty boring. ;o)"
Thanks!
Tory
Victoria Duff
Founder & CEO
Bold Ventures Group
http://www.BoldVenturesGroup.com
duff@BoldVenturesGroup.com <mailto:duff@BoldVenturesGroup.com>
Toll Free: 888-436-8440
Direct: 310-514-1913
Again, I hope you understand my intentions posting our conversation on this board. The Raging Bull site is a bunch or crap and there are respectable intelligent investors here on ihub that should also be aware of your respected comments. I hope this does not interfere with future conversations, since I have always appreciated your time, honesty, and cooperation with my concern! Thank you for understanding.
This was the e-mail I sent to Mr. Matin in the first place (regarding the website):
>Mr. Matin,
> >
> >I understand that the company is growing and has limited funds for
>company
> >expenses. A worthwile expense that I see very substanial for the
>growth of
> >the company is to update the company website. For instance, Veltex
> >proclaims that OTC Live is still the company's IR firm when it hasnt
>been
> >for some time now. Also, it would be a good idea if the website
>actually
> >produced some pictures that would demonstrate the companies
>acquisitions of
> >the trailors and the recently purchased trucks. These things can very
> >easily be accomplished and would mean a great deal to A) the investment
>
> >communtity B) Veltex customers C) New customers. No one should be left
>in
> >the dark regarding the accomplishments the company has recently seen
>and an
> >updated website can answer a lot of those questions. I look forward to hearing from you.
Board slowed down huh?
I believe Roger's statement regarding the activity of this stock.
It is apparent that MM's are playing with this thing. We will not see any significant action until the audit is completed.
An updated website would be nice as well!
No problem sky-king!
We will all goose up the stock price!
Honestly though, where is the audit? the stock has been very slow trading recently (down during the day but closing at .007)
is Matin pulling james bond on us with the 007 closing price?
GIVE US SOME INFO?
someone must be able to find info on the trucks...
anyone spoken to V.Duff recently?
Thanks Roger!
up today huh? how bout an audit!
Enough with lies!!!
If you are going to post info on this board, you must include your sources. Nothing here will be believed unless there is a relevant source backing up the information!
Rbrunetti, whats your relations and opinion on V.Duff?
simple question. thanks
Lucky you were able to get out at .042!
I was away on vacation that week and should have put a sell order in around that price, since I knew "an audit" would be coming out. Who would have known the company would take it back?
I agree that Guru is from the other board. Once I say the name on this board, I went over to RB and noticed him talking about the posters on this board and how we (the shareholders) are all idiots.
I also believe Rbrunetti is who he says he is. I spoke to him shortly after he lefted Veltex. He is easy to get in touch with by going to the govacations.com website under contact info. Roger, I apologize for giving out your contact info indirectly but this is a message board for a stock (company) you were involved with and the purpose, imo, is to share information.
Has anyone emailed Matin requesting an updated website? I believe this is very important! E-mail him at veltexusa@msn.com! ask questions, propose advice, ANYTHING!
We need informations, shareholders should not be left in the dark this long!
Roger, why the 24hour deadline?
I am a little confused with your last post. Previous, you mention how you consider this a "bet" and that you feel the "wheel is still spinning". Have your feelings changed?
Also, Charis Guru, or whatever his name is, is a very strange character (in my book). His first post (the past week as far as I know) was very negative and posed a "basher" like message. Now all of a sudden he has "reliable" information about the trucks? Doesnt add up to me, nor does anything else going on with this company.
I almost agree with Roger (Paul) that this is a bet. I do not believe this is a scam but the fact of the matter is that:
-This is a small company that has experienced many financial difficulties, and to my knowledge, is trying to turn itself around and grow (hopefully ethically)
-The CEO is from different culture BUT lives in CA with his family and is raising his children the American way.
-V.Duff is still highly connected with Veltex. Due to her reputation and credentials in the business, it is HIGHLY unlikely that she would associate herself with a fraudulent company (especially since the risk would FAR outweigh the return).
-We need an audit soon!
IMakemoney, Please make sure that Guru does not post on this board, nor any of his alias'. The guy has a real problem and thus far, this board has been very informative yet objective. There is no room for his kind over here. Let him ruin the RB board, but keep this one soley for the true shareholders!
Thanks!
The guy is a menice!
wheres the confirmation? Seems like Guru has made it over from RB. Very strange how he/she picked up on the recent activity on this board.
100% confirmed was very funny when you didnt provide any reliable information sourcing your gaurenteed confirmation.
Email Matin at veltexusa@msn.com
veltexisprofitable, u are def buyveltexstock on RB.
are u not?
I somehow feel responsible for getting this board flowing again! It has been very slow the past couple of weeks (since Ive been reading them) and now there are new posts everyday. I enjoy everyones point of views as well and hope for the best for this company.
Does anyone try to get in touch with Matin? Ive heard rumors that he answers phones at 12pm PT. Everyone should throw an email over to him requesting an updated website with pictures and more up-to-date info (ie. IR firm, new management and customers, etc.)
I believe this is the best email to reach him: veltexusa@msn.com
and here is the rest of the company information:
Veltex Corporation
21700 E. Copley Dr. suite 170, Diamond Bar, CA 91765
Phone # (909)612-0012, Fax # (909)612-0050, info@veltexcorporation.com
David, what do you expect when you have a company with a basher that has a personal vandeta with the CEO. This guy calls every company associated with Veltex and harrasses them to no end. V.Duff mentioned that they seeked legal action against him and had no case, actually wasting money on consultation. GO over to the RB board, "textileguru" and his other alias have posted over 2455 posts since a member in 9/99 all on the VLVT board.
Link: http://ragingbull.lycos.com/mboard/memalias.cgi?member=textileguru
Any potential investor that goes to that board sees the words
"fraud", "scam", "Matin is a child molestor", i mean its pretty rediculous and hard core.
I do agree an updated website is extremely appropriate with pictures.
Nothing wrong with a little activity on this board...
How is everyone today? I see we are talking about the significance of a good IR firm and how it has affected VLVT, thus far. Has anyone gotten in touch with BJM? I know the validity of the RB board is close to nothing, but one Long shareholder (I can assume from his/her posts) stated that Morris sounded very young and inexperienced. I am also surprised that the company website still has OTC live as their IR firm and has yet to update it. Rememeber the PR stating how Mr. Jeff Hellenberg, from market advisors has picked up on VLVT and evaluated a short-term share price of .35 and long term of 1-2.50$. What happened to that guy?
I agree that I can not even make myself come to believe this is a scam. But I do understand how a shareholder could believe so without directly speaking with Victoria Duff. Her credentials are the only thing that make be a believer because it seems she believes in the company as well, otherwise, why would she risk her career over it?
The audit is crucial and is over two months past due. Does anyone think that 2nd quarter (unaudited) numbers be released?
If V.Duff is reading this board, I want you to know how critical your relationship is with Veltex for the shareholders to be believers. Thank you for giving us hope.
Thanks Roger,
All i can say is I hope your hypothesis is correct in assuming:
"If it is not, they have protected themselves by saying the thruth in such a way that the market did not beleive them. One reason for that could be that they try to acquire millions of shares (wouldn't be the first time insiders cheat the market) at lowest possible price, before what they claimed (audit) becomes reality."
That would be fine with me! I sort of had the same logic (obviously hoping for the best) with the accumulation recently at extreme low prices.
-V.Duff + D & B = our only hope of this company's going concern standpoint.
Something else I'd like to point out is that after speaking with Victoria Duff, she mentioned to me that
A) the auditing firm was a respectable company and we will all be able to research the validity, no problem (ie. internet, etc.)
B) Due to the constant harrasing on the bashers on RB, she advised Matin not to publish any info regarding the name of the firm, when it will be completed, etc. due to these bashers AND b/c she said that the accounting firm keeps pushing back the completion due to documents needing to be attained from thr foreign sub. and other complications. Further, no reason to give a time frame when Matin is not the one actually setting it. Therefore, her suggestion both leaves shareholders hanging in the wind but also keeps the bashers from distrupting operations.
I understand the reasoning behind it. This is a small company and this basher that goes by the name "textileguru" on RB supposedly makes harrassing phone calls all day to any company associated with Veltex threatening SEC violations and fraud, whereupon these co. dont even want to do business with VLVT. V.Duff told me "textileguru" was a employee of VLVT (i believe she told me this, i might be mistaken) and was either fired or left b/c matin screwed him out of money. Either way, this guy has a personal vandeta against Matin and will do anything to ruin his reputation.
I am happy that I am able to talk to someone on this board that poses intelligence and insight, therefore thanking you in advance while we pray for this audit!
I agree, the past two days we have seen a relatively high volume early in the day. For MM, buying at .006 and selling at .011 is a pretty good profit. I wonder myself the reasoning behind this.
Roger,
I was wondering on your insight regarding the D&B report I posted a few days ago. What is your take on the information the report provided and how relevant and reliable do you believe it is (mostly regarding the increase in activity in the months of Feb-Jun). Im not so sure myself, but, in the belief that an audit is in the process, could that have anything to do with D&B activity? I know for a fact when a company is taking out a loan from a bank, a D&B check up is necessary.
I like the fact that we got this board up and running again. I will continue to check every day and post and relevant information I can find. I hope you all can do the same.
Good Luck (we all need it!)
thanks dahnyish for your intelligent insight...
I think we should get this board up and running again!
The raging bull message board is so out of hand and is not even worth going to.
Today was a very very bad day for VLVT. I have never seen the price so low. Does anyone think it has something to do with the whole market dropping? .006 is a pathetic share price.
I have also spoken with V.Duff over the phone and she seems very nice. I can tell she takes a lot of phone calls regarding VLVT since BJM is so hard to get in touch with. I truly hope that the audit is released and is represented by a respectable firm, as V.Duff stated it would be.
Lets get this board rolling with significant DD and info.
Anyone been to the Veltex facility?
Well, this is my concern:
Firstly, it seems as if the operations of the company are foregoing. As you (Roger) mentioned, the fact that Victoria Duff still does business with Veltex as a corporate advisor, leads me to believe that this company is not a scam. She does have repectable credentials and I could not feasible see how she would want to get herself into such a scam. Correct?
In regards to the most recent press release, I e-mailed V.Duff a copy of the e-mail I previously posted and asked her of her thoughts on the matter (ie. presentation of the pr and the fact that my e-mail to Matin almost identically resembled the context of the release). The following is a copy of the reply from V.Duff:
"It is not peculiar that Matin would address every one of your suggestions in
a PR ............. I am sure many shareholders have been saying the same
things.
Regarding the news release itself, I think it was poorly written, poorly
strategize, and accomplished little.
Let's hope the PR team improves. The garbage that has been put out as PRs
has, in my opinion, contributed to the average shareholder's distrust of the
company."
Thanks!
Tory
Victoria Duff
Founder & CEO
Bold Ventures Group
http://www.BoldVenturesGroup.com
duff@BoldVenturesGroup.com <mailto:duff@BoldVenturesGroup.com>
Toll Free: 888-436-8440
Direct: 310-514-1913
It seems odd (what doesnt in the matter) that in Matin's reply to me he mentioned how he would take my suggestions to his advisors before releasing information. Isn't V.Duff his top advisor? Why wouldn't she help better construct the press release?
At this point, as Roger mentions, this seems like a bet but the wheel is still spinning. It would be MUCH harder for me to believe in this company if Victoria was not involved, but it seems as if she is (why else would she respond to my questions?). Further, the D&B stating that there has been a lot of activity in recent months, leads me to believe the statement of the upgrade in the phone system.
Otherwise, I would not feel much confidence in this "bet".
Roger, I suspect you have been following this situation for some time now. I have been in contact with Javeed Matin through e-mail and my most recent asks Matin for a press release. Here is a copy of the e-mail i sent him and you should reread the press release right after. It is very strange how the requests in the email are indicutive to the press release.
>Subject: Attn: Mr. Matin!
>Date: Wed, 4 Jun 2003 14:18:23 -0700 (PDT)
>
>Mr. Matin,
>
>I have not spoken with you (via e-mail) for some time now and am
concerned
>with the current operations of the company. I have recently received
an
>e-mail from Victoria Duff, whom has graciously answered some of my
>questions to the best of her ability. She told me that as Veltexs'
>Corporate Advisor, she recommended that you should not release ANY
>information regarding the audit until it was 100% completed. I
understand
>the trouble the company faces with the "bashers" on the message
boards,
>believe me, they are as hard for us (the shareholders) to read as they
must
>be for you. But, in the concern for the shareholders, I am requesting
some
>sort of press release that can help stimulate the stock and hopefully
bring
>back some of the trust the shareholders have recently lost in yourself
and
>the company. All do respect, this is not a criticism; instead a way
for
>Veltex to let the shareholders know operations are still foregoing.
>
>Further, I understand how setting a timeline for the completion of the
>audit is simply out of the question. I am sure that
>management has the same concerns regarding the audit as do the
>shareholders. With that being said, it was brought to my attention
that
>the phone system was down due to an increase in customer demand and a
>change in the phone system. Maybe it would be wise for you to release
this
>information to the public, along with a brief explanation regarding
the
>audit. Anything that can stur up the trust in this company will be
very
>beneficial for all of us!
>
>Mr. Matin, I am not asking for much. I am trying to understand what
is
>exactly is going on and hopefully you will be able to clear up these
>issues. You don't have to mention the name of the firm conducting the
>audit nor when it will be completed. Just let the shareholders know
that
>although it has inconvenienced ALL of us, it will be completed!
>
>I hope you take my suggestions into consideration and would like to
hear
>back from you as soon as possible. Thank you for your time and
honesty!
Then he wrote back to me, "Thank you very much for your suggestions. I am sending your suggestions
to
my other advisors to consider. I am with you. I will try my best to
issue
this release soon. May be on Monday."
Veltex Corporation
21700 E. Copley Dr. suite 170, Diamond Bar, CA 91765
Phone # (909)612-0012, Fax # (909)612-0050, info@veltexcorporation.com
I believe the pr came out on tues or wed.
In regards to "a more respectable co."
The only way a shareholder should take this comment is in a positive way. Think about it, Matin knows the value of the stock and also knows that its trading on pink sheets. Even though I own 250k shares, I agree that if the company is A)able to produce an audit B)able to get necessary financing
C)able to buyback stock D)move to the BBX or even better AMEX, the company would be more repectable. Who could disagree?
There is nothing wrong with Matin statement, as long as he understands how to achieve the company's goals!
Has anyone been in direct contact with Matin (via e-mail, phone?) or has anyone visited Diamond Bar facility recently?
Hey guys, I've had enough of RB so I signed up over here...
Hopefully we can all help each other out a lot with useful info, which is something you'll never find over at RB..
Anyways, I work in a bank and have access to D&B reports so
I did a D&B report on Veltex Corporation:
Basically,
- It gave all the correct info, ie. CEO, addresses (HQ and Dhaka and Comilla, Bangledash), phone numbers, line of business, etc.
-Risk Rating 4 (5 being the worst)
-Financial Stress Class 4 (same)
those were obvious givens, but something that I did pick up in the report was a statement under special events dated 6/11/03. And I quote, "D&B receives over 400 million payments experiences each year. We enter these new and updated experiences into D&B Reports as this information is received. At this time, only two of these payments related to the business, one reference dated May 2003 reporting $500 placed for collection and one reference dated prompt to slow 30 with a high credit of $5,000. An addition trade reference was received in June 2003 reporting $7,500 placed for collection. The original Business Information Report for the business was created February 13, 2003."
Then this is my favorite part and only leads me to believe the phone system upgrade is realistic, and i quote, "A review of the D&B historical database shows that during the four month period, February 13, 2003 to June 11, 2003, there has been a high number of inquires on Veltex Corporation. This advises D&B that the company is experiencing a high-end amount of customer activity. A review of the D&B historical database on June 11, 2003 shows that since the report was created on February 13, 2003, the report for Veltex Corporation has experienced a high number of updates at the request of the business principal."
There is something going on here. Alot of activity in recent months can only make me hope that the audit has a lot to do with it. No financials were provided on the D & B.
Comments?