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texastex, you are correct that Veltex shareholders can strongly believe that this is a Global Company in a Global Economy. Outsourcing is very common.
It's acceptable that there are operations overseas and the financials reported for that entity are, as should be expected, audited by the local Auditors in Bangladesh.
Veltex Textile Mills 2003 Audited Financials Reports Great news of $1.9 Million Operating Income.
We can feel reassured and encouraged from the 2003 Audits recently Issued. It's GREAT NEWS !
REAL COMPANY with EXCELLENT COMPETITIVE PRODUCTS !
GO VELTEX !
Are naked short sellers able to enter into this stock and manipulate the stock price?
Situations like the one mentioned above happens, such as what is being suspected with Galaxy Minerals, Inc. (OTCBB: GAXY). At your convenience, you might be interested in reading the Press Release by Galaxy Minerals that briefly describes the Naked Short Selling, by a market maker perhaps, that drove the price down massively. Take a look at the charts for the stock behavior for Stock Symbol GAXY and share with us your thoughts.
It would be interesting if this was the same case with Veltex. Remember, the short sellers eventually have to buy the shares in order to cover the short positions. (STOCK PRICE COULD SHARPLY RISE AS A RESULT OF THIS).
It's also possible that margin selling and lack of investor confidence in the pre-audit phase of Veltex's Financial Statements contributed to the major decline in share price of Veltex.
Any thoughts about this from anyone here?
Putting all this into consideration, it is strongly believed that Veltex's stock price will sharply RISE to a high level quickly. (GET READY FOR THE RUN UP IN PRICE! - It just might make your eyes pop out and your jaw drop to the floor.)
GO VELTEX !!
ascamorreal, have you visited the Veltex Office in the City of Industry, CA? (It's actually on the border of Walnut, CA and City of Industry)
I've been there.
Have you received a catalog from Veltex?
I have the catalog and it's quite impressive.
Have you seen the Veltex Presentations at Trade Shows?
Do you have proof of any negative accusations about the Bangladesh entity and it's Audited Financial Statemsnts by Bangladeshi Auditors? (It can be a respectable Audit whether it is U.S. auditors or Bangladeshi Auditors - there is quite a bit of scrutiny on both sides).
Do us all a favor and answer all these questions honestly.
Get ready for the SHARP RISE in VELTEX STOCK PRICE !
GO VELTEX !
ascamorreal, actually if you look at the audited financials, you will notice the operating income for Veltex Textile Mills was 1.9 million.
This is something to strongly consider as positive news, if you have integrity. After all, let's all face it, the Net Loss is primarily due to Discontinued Operations. This could only mean that the company, as Financial Analysts refer to it as, "took a bath" and wrote off the losses from the discontinued business. This is EXCELLENT NEWS when you disect the Financial Structure of VELTEX.
OPERATING INCOME = $1.9 Million (VELTEX TEXTILE MILLS)
This is accepted as a FACT. These are AUDITED FINANCIALS.
GO VELTEX !!
Texastex, per the PR, what is a "disturber"? Or was it suppose to read as "distributor"? And who wrote that press release with such bombastic and unprofessional language such as "whopping"?
In any case, it does seem that Veltex shareholders will soon be breathing a 'sigh of relief' soon as we believe that success is on its way (GREAT NEWS FOR VELTEX).
Excellent Inventory and Supply Chain.
Hiring more contractors to sell product (increased demand)
Beautiful catalog that makes great impression (New Clients)
Strategic Acquisition of KCA Garments, Embroidery, and possibly Gidget Clothing.
Low Labor costs makes Veltex Competitvely Strong
GO VELTEX ! ! (Get ready for a "WHOPPING" increase in STOCK PRICE !
GrowthAndValue, you've made major positive contributions to us by visiting the Veltex booth at the Las Vegas show.
Great Job with your research and delivering the EXCELLENT NEWS about VELTEX and GIDGET CLOTHING ! It seems that we'll all see the BRIGHT and HAPPY DAYS FOR VELTEX shareholders coming in the weeks ahead, it's what we've been waiting for.
We'll be BRIGHT EYED and BUSHY TAILED, oh yes !
COMING SOON:
The Adventures of Victorious VELTEX and the GREAT GIDGET!
An inspiring story about a company's journey from Bangladesh to the Land of Opportunity, G-d Bless the USA ! You will be at the edge of your seat as you watch how the Founder, Mr. Javeed Matin put his ideas to work and built a Textile Empire. Mr. Javeed Matin, Veltex Founder and CEO, throughout his "climb to the Mountaintop" has taken time to thank Veltex's loyal shareholders and customers. It's a story about effort, faithful shareholders, and seizing the opportunities in the Beautiful country, the United States of America.
STAY TUNED ! GO VELTEX !
Read this EXCELLENT NEWS FOR VELTEX SHAREHOLDERS:
Gidget website shows Javeed Matin as CEO of Gidget and the address of Veltex is the distribution center of Gidget also.
We can expect the SHARP RISE in Stock Price within our reach.
GO VELTEX and GO GIDGET CLOTHING !
texastex, you have a great idea to promote the GIDGET CLOTHING items via the T.V. Are you going to follow up and let Mr. Matin or other competent personnel at VELTEX and/or GIDGET CLOTHING (maybe try Victor at Gidget)?
Contact Info:
Victor Valles
VP Marketing/Licensing, Gidget Worldwide
(714) 362-4535 Mobile Phone
1-877-GO-GIDGET (Same phone # as Veltex)
Email: vpmarketing/licensing@gidgetclothing.com
Gidget Clothing Co.
3419 Via Lido - Suite #254
Newport Beach, CA 92663
OR
Mike Do Bransky
Promo-Brand Manager, Gidget Worldwide
Email: promo/brandmanager@gidgetclothing.com
If we make a SHARP EFFORT we can expect a SHARP RISE!
GO VELTEX ! GO GIDGET CLOTHING !
If anyone is interested in having the stock price sharply rise then start "burning the phone lines" and aggressively campaign to these dealers to "satisfy surfing and beach customers requests for GIDGET CLOTHING!" CALL the DEALERS! They are the SOURCE FOR OUR SUCCESS.
JUST MAKE SOME CALLS and do the dealers the FAVOR OF LETTING THEM KNOW about the HIGH DEMAND for GIDGET CLOTHING!
LET'S MAKE A GREAT SALES EFFORT! THINK POSITIVE!
Instead of wasting our time with responding to the NEGATIVE BASHERS like Miamimice - FOCUS ON PROMOTING VELTEX AND GIDGET CLOTHING TO DEALERS ! Make the calls before its too late and the buying season passes us by. WE CAN DO IT - GO TEAM !
"The most important thing in busines is MAKING THE SALE!"
GO VELTEX and GIDGET CLOTHING !
texastex, you have a good point and I think we'd all be feeling much more assured if we found out, from some sort of sampling of the Dealers listed, about to what extent is the demand for Gidget products out there.
Have you actually bought or anyone you might know be interested in buying some gidget clothing?
Have you seen in person any gidget clothing displayed or worn by anyone on the beach?
Call some dealers and get some market research done. At least we can call some of these dealers and promote it to them, right? We can say something like, "Oh, if you can start stocking up on some of the 'Gidget clothing', you'll be sure to attract a lot of customers in your store!"
Or try something like, "My friends and I would really be interested in visiting your store and possibly buying some 'Gidget Clothing'!"
WE MUST CREATE WIDESPREAD AWARENESS IN THE MARKET about VELTEX and GIDGET!
Do whatever it takes (within legal means, of course), for example, inform them of the GIDGET and VELTEX websites and phone numbers.
BEST WISHES !
Janice, what is the purpose of that website that you entered?
I don't know why you emailed me that. Thank you for the info.
Regards,
"Gratzi"
texastex, your enthusiasm is refreshing, but I think we should get on the phone and call some of the "Gidget Dealers" to verify that they are indeed selling some of those products listed on www.gidgetclothing.com.
I tried calling a place in Dana Point, CA (I was curious) to see if they sold any "Gidget Clothing". They said that they had some and put it on sale to "clear" it out. Is this good or bad news?
QUESTION:
Are the "GIDGET DEALERS" listed on the www.gidgetclothing.com website still selling? (Shareholders start making calls like I did)
If yes, this stock can be expected to sharply rise!
If no, then, uh oh, what are we doing here?
GO VELTEX ! and GO GIDGET
Rob, many of us here agree with your warning towards Miamimice. If necessary, legal action might have to be taken against Miamimice for commiting Libel (lies in written form considered to be illegal).
Examples include:
Miamimice has accused Veltex of having "Forged Audits"
Miamimice has constantly attacked Javeed Matin using words such as CROOK.
Instead of mentioning about how Miamimice supposedly spoke with the Veltex attorney, Miamimice might wish to consider hiring an attorney as Miamimice could end up being a Defendant as a result of the harrassment and libelous behavior Miamimice contunuously exhibits here.
Miamimice, you might want to try issuing real information here instead of stating FALSE accusations and claiming that you have spoken a great deal with the attorney.
The attorney has no time for CLOWNS like you. Miamimice, you are viewed as a silly person here with no substantiated evidence and you have NO RESPECT for the AUDITORS and other professional business people. MIAMIMICE, you have lost credibility for a number of reasons such as:
Miamimice states that he never invested a penny in Veltex but later states that he Invested a great deal of money.
Miamimice fails to recognize reputable auditors.
Miamimice claims to have spoken to the Veltex attorney (probably just for a minute or two and then sent away)
Miamimice neglects to recognize impressive catalog of Veltex, strategic attendance of Veltex at Trade Shows, Brilliant website, Competitive Supply Chain, just to name a few.
Miamimice is NOT CREDIBLE for many reasons:
He has accused the CEO of Veltex in the past of Dumping shares when we all know this was impossible due to SEC regulations being followed.
Miamimice BASHES the Audits performed by professional auditing firms identified and Miamimice is not identified in any way but as "Miamimice".
He claims to have NEVER invested a penny into any penny stocks including Veltex, then he later states that he invested more than hundreds of thousands of dollars.
The only one that seems to be a SCAM is Miamimice.
And yes, we the shareholders of VELTEX ARE INDEED "FOOT SOLDIERS" that SALUTE the "EXCELLENT PERFORMANCE" of our Leader Javeed Matin CEO of VELTEX. We are proud to PUMP what we feel is a Great Investment Opportunity. GO VELTEX !
GrowthAndValue, please read Post #8578.
We feel much better today knowing that an actual audit has happened and confirms $15 Million Revenues and $1.9 Million Operating Income from the Bangladesh Entity.
Sure, we prefer that the 33% overestimated Revenue amount didn't occur but we still have a confirmation that Veltex is real.
Veltex is aggressive in trade show participation !
Veltex discontinued businesss that was not profitable !
(Excellent business decision)
Veltex has an impressive catalog !
Veltex Textile Mills reports $1.9 Million Operating Income!
(And yes, this is considered to be Audited by Bangladesh Firm)
LAKE VILLA, Ill. & SANTA CRUZ COUNTY, Ariz --
March 31, 2005 (OTCBB: GAXY) Today is the exciting day where shareholders on record are entitled to a 20% Stock Dividend. This event is expected to spark widespread investor interest. As the saying goes, "With membership comes its privileges". Also, consider the old adage, "Higer Risk can yield Higher Returns".
Good Luck to all Galaxy Mineral Shareholders. Wishing for us all to enjoy Great Wealth !
GO GALAXY !
(May the stock rise and fly so high that it will be out of this GALAXY !)
GrowthandValue and Cal, do you agree that we are much better off today (regardless of recent decline in stock price) knowing that Veltex Audit for 2003 confirms a Revenue amount of $15 million rather than not knowing how close to the $19.99 Million initially reported?
Also, when you compare Veltex to other PINK SHEET stocks, the others pale in comparison. This is because many Pink Sheet stocks disclose very little, if any, information. Many of those Pink Sheets are in the "Development Stage" or "Exploration Stage", such as the case with Galaxy Minerals (Symbol: GAXY) for years with little or no Revenues.
texastex, you have a good point, specifically when you state "that's a good audit". The purpose of the Audit in our eyes here was to have clarification. An objective source has audited the company. We can feel confident about Veltex due to what was communicated through the audit findings and Veltex now being endorsed by the CPA Firm.
The Report of the Committee on Basic Auditing Concepts of the American Accounting Association(Accounting Review, vol. 47) defines auditing as:
a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users.
Great News for VELTEX: The Audited financials have clarified a great deal for us.
It shows that Veltex is performing much better than many other PINK SHEET companies (many of them are not producing impressive Revenues like Veltex does, $15 Million for 2003).
The Current Asset Amounts present an Excellent Scenario:
CASH $8.3 Million
Inventory $973,000
Accounts Receivable $1.6 Million
WHEN COMPARING Total Current Assets to Total Current Liabilites, we can feel assured that VELTEX is STRONGLY POSITIONED for GROWTH:
Total CURRENT ASSETS $11.1 Million
Total CURRENT LIABILITIES $8.1 Million
Also, remember that the Net Loss of (451,164) is mainly due to Discontinued Operations NOT Normal Operations, which means GREAT NEWS for VELTEX ! (OPERATING INCOME IS ACTUALLY $1.9 Million - EXCELLENT !) YES, AUDITED INFO YIELDS GOOD NEWS !
Thanks for the Audit Info Rginvestor and KlausVT, we can see that the Net Loss is Mainly attributed to Loss from Discontinued Operations, $976,686 and Loss from Disposal of Discontinued Operations, $561,154.
This is interesting because, as we can see, there is $1.9 Million in Operating Income (for Velvet Textile Mills year ended 12/31/2003). Therefore, the major part of the Net Loss of Consolidated, ($451,464), is due to the Discontinued Operations.
Consilidated Amounts to Consider:
CASH in Bank is about $8.3 Million
Accounts Receivable is $973,000
Inventory is $1,630,000
Fixed Assets, Net is about $8.6 Million
Total Current Assets = $11.1 Million
Total Current Liabilities = $8.1 Million
(Think about the Current Ratio= $11.1 Million/$8.1 Million, what's your opinion? I think Veltex is in Good Shape)
VELTEX: correction regarding navigating the website.
I just went on the Veltex website a few minutes ago. It seems to be working great. I'm referring specifically to the product and price displays (in the past they had $0.00 listed on an item, this was disturbing). It's looks much better than before.
However, when I tried again to access the 2003 Audited Financial Information, it stated "NOT FOUND" "COULD NOT BE FOUND ON THIS SERVER".
Does anyone know where I can retrieve the entire package of the 2003 Audited Financials (on the internet please)?
It has NOT been posted on the SEC website. The only items I find posted on the SEC website in regard to Veltex is "Sales of securities". (That doesn't sound too good to me).
If the Audit is REAL, wouldn't it be posted on the SEC website also? (go to www.sec.gov)
Was it an actual GAAP audit performed that will lead to the 2003 Audited Financials being posted on the SEC WEBSITE?
I think all of us here feel that there's a tendency in the numbers being exaggerated. We, therefore can take this into account and make our conclusions based on what we feel are the real numbers.
It would be beneficial for Veltex Shareholders to make suggestions for improvement. For example:
Is someone here willing to call Veltex, (909)595-1977, and request that the website be updated so customers can efficiently order merchandise.
Also, could someone here call to make sure that Veltex eliminates the incorrect 2003 Revenue amount from its wesite, Company Data section?
I couldn't access the 2003 Audit info because when I clicked the 2003 Audit links it did not go through. I told them at Veltex, but feel that more of us need to notify Veltex of this in order for them to recognize that there's enough of us here, and action is necessary.
It seems that they don't answer the phone in a professional manner at Veltex either. This can disappoint potential customers and investors and can have a negative affect on Revenues and Net Income.
I'm just trying to help.
GO VELTEX !
Let's all have some integrity here and try to see both sides.
This stock could crash more or it could fly very high, especially if the 2004 Revenues are much higher than the 2003 Revenue. (The only question we all have is if the $40 Million unaudited number is very close to what the 2004 Audited Financials show?) If the same exaggeration happens again, we can expect 2004 Revenue to be about $30 Million (33% estimated exaggeration rate). This amount would still be very impressive and thereby drive up the stock price.
Therefore, we have a basis now on how to estimate the 2004 Revenue amount. If it's close to $30 Million then how will most investors respond here?
The primary concern is how will 2004 Net Income turn out?
It seems that Miamimice and Texastex are dominating this message board.
Each one of them is stubborn without showing any recognition that the other side might possibly be right.
For example, texastex is right about that the $15.5 Million in audited revenues for 2003 shows that Veltex is a real company making sales. But, the unaudited 2003 overestimated the Revenue figure by about 33%, stating $19.99 Million Revenues (that disappoints some of us, but encourages some as well). This makes us wonder about if the $41 Million Revenue amount reported is possibly another exaggeration.
Miamimice expresses some doubt about Veltex but fails to recognize that the company is real and tends to go to extremes in accusing Mr. Matin without substantiation. Miamimice fails to face the possibility that Veltex stock could sharply rise given that Revenues are Real.
Texastex, that was a very informative message you posted.
Hopefully, new investors will be aware of the great upside potential Veltex Corporation (OTC: VLXC) has. It is widely believed in various circles that this is a "ground floor" opportunity to make enormous profits.
Veltex has a tangible, "strongly in demand" product.
Veltex is in a very advantageous position vs. competition.
Veltex reports impressive Revenue and Net Income Growth.
Veltex is very successful in trade shows.
Veltex issues many positive press releases
Veltex has an impressive catalog
Veltex is in the process of improving its website
Veltex plans to hire more contractors as it anticipates further sales growth
GO VELTEX !
Miamimice, have you ever worked in the Textile industry?
What is your connection with Veltex?
Specifically, when did you first hear about Veltex?
Were you ever compensated by Veltex and an employee or contractor?
Did you attend any trade shows and visit the Veltex booth?
Have you ever seen and spoken in person to Javeed Matin?
Miamimice, do you work for a competitor of Veltex?
Miamimice, what country are you from?
Let's be realistic here: First of all, this stock seems to be a mixed blessing.
There is no way that the 2004 Audit will be completed by April. We'll have to be patient and give it at least a couple more months more (let's say about June or so).
Kingnazzikanazzer, just like you, I would like to see the price for VLXC JUMP very fast, but I think it may take a while. Only the patient investors will succeed here.
Anyone here seeking IMMEDIATE GRATIFICATION will be disappointed. We must BE PATIENT ! We believe that Good News is on its way, slowly but surely.
It would take a long time to get listed on the AMEX, especially with the style of Veltex Corporation always delaying distribution of information requested. Also, there might be minimum cash and earnings requirements they will have to meet. If Veltex qualifies for listing on the AMEX, it will be GREAT NEWS ! (But for now its just a PINK SHEET stock)
Does anyone here know what exactly are the requirements to be listed on the AMEX in addition of having Autdited Financials?
GO VELTEX !
FORECAST for Next week, RE: VLXC we can all be sure that:
Miamimice will continue to BASH Veltex and use poor grammar doing so. Even if the numbers match what is reported, Miamimice will always put a negative SPIN on it, such as saying that the Audit is not reliable, blah, blah, blah, etc...
ascamorreal will continue to be Miamimice's "FOOT SOLDIER and fellow BASHER"
kingnazikanazzer and texastex will continue to PUMP the stock
The stock will probably not move too much up or down (10-30% up or down by end of next week) because it's old news (2003 info) anyway.
ImakeMONEY, yes I understand. I'm sorry for the misunderstanding.
I thought that it was just valuable information that showed how the stock price of VLXC is expected to sharply rise. I just wanted to be a good neighbor and share with other investors here the expected good news for Veltex shareholders.
By the way, what is your opinion about the behavior of Miamimice and his BASHING of Mr. Matin of Veltex Corporation?
He repeatedly accuses individuals associated with Veltex of commiting FRAUD. He accuses shareholders and posters on this Message Board of being "PUMPERS" and "FOOT SOLDIERS OF MR. MATIN", and contantly replies to our messages with the accusation that we are compensated by Veltex, when this is highly unlikely the case in reality.
Please have integrity and consider the actions of the BASHERS such as Miamimice. Miamimice is constantly creating an atmosphere of confrontation and bitterness. We are wondering if an injustice is happening here with the way Miamimice throws out accusations without consideration.
Thank you for your attention.
G. Prego
GAXY - Attractive - per Market-Pulse.com
Galaxy Minerals Inc. (OTCBB:GAXY): Attractive
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Miamimice, let's clarify some things here:
1. What is your connection with Veltex?
2. Have you ever spoken in person with Mr. Matin?
3. Why did you accuse Veltex of selling shares when it was impossible for them to do this before the press releases come out?
4. Why is it so important for you to constantly bash the Company its CEO and anyone interested in buying shares?
5. Do you really believe that innocent Investors are PUMPERS and FOOT SOLDIERS?
Please, when you have a chance, answer the following questions.
Thank you,
G. Prego
Matt,
I wish to apologize for posting to other boards (SPAM). I have learned that this is not acceptable here. If you grant me freedom, I promise to keep my comments about a certain stock allocated to the appropriate board.
I am sorry for my publicizing information about the stock in the wrong places. I hope you will have mercy and grant a pardon for time served.
Thank you,
"Gratzi".
Bullpick, what good is GAXY if they don't find any Gold in the mines? (Have they found any so far?)
Try VLXC (Veltex Corporation), the 2003 Audited Financials due any day now (possibly tomorrow). VLXC is expected to sharply rise. Do some research on VELTEX CORPORATION and get back to me with what you think. You can read my previous posts here about VLXC also.
Thanks and wishing everyone good fortunes investing !
(PSSSSST - Remember VLXC, buy some, it's a Great Opportunity)
Matt, I wish to BUY myself out of this JAIL by giving you a valuable stock tip in return for my freedom, here it is:
BUY VLXC (Symbol for Veltex Corporation)
Veltex Corporation is active in many trade shows throughout the USA
Veltex Corporation has a supply chain that stomps the competition
Veltex Corporation has advantage of much lower labor costs
Veltex Corporation has made impressive acquisitions
Veltex Corporation is a member of ASI and PPIA
Veltex Corporation plans to hire more salespeople
Veltex Corporation reports over $6 Million in Net Income
Veltex Corporation has only about 7 million shares outstanding
I wish to BUY myself out of this JAIL by giving Matt a valuable stock tip in return for my freedom, here it is:
BUY VLXC (Symbol for Veltex Corporation)
Veltex Corporation is active in many trade shows throughout the USA
Veltex Corporation has a supply chain that stomps the competition
Veltex Corporation has advantage of much lower labor costs
Veltex Corporation has made impressive acquisitions
Veltex Corporation is a member of ASI and PPIA
Veltex Corporation plans to hire more salespeople
Veltex Corporation reports over $6 Million in Net Income
Veltex Corporation has only about 7 million shares outstanding
Well, in regard to Symbol: VLXC it is my understanding
that if I bring to anyone's attention here about information below, for example, it might be considered as SPAM, therefore I will TRY not to do it again:
There is growing investor interest in Veltex Corporation (Symbol: VLXC) which currently trades on the OTC.BB (Pink Sheets) and is expected to move to the AMEX with the anticipated release of the 2003 & 2004 GAAP Audited Financial statements approximately March 15, 2005 and April 15, 2005 respectively.
Revenues for 2004 reported on the unaudited Financial Statements are approximately $41 Million with Net Income at about $6 Million. Outstanding shares are reported at approximately 7.0 million shares outstanding (therefore EPS is reported at about $ 0.86/share). The current price for VLXC is about $1.15 to $1.20/share. If the P/E were to be 10 times the EPS reported, then this stock would trade for over $8.00 per share. It is believed to not be unusual to trade at a P/E ratio of 20 times EPS, at this P/E Ratio VLXC would trade at above $17.00 per share.
Symbol: VLXC (Expected to Sharply RISE):
visit VELTEX CORPORATION WEBSITE at www.veltexcorporation.com
It seems to be a great opportunity to BUY right now before the expected sharp rise in stock price.
Veltex has been receiving a great deal of attention from major investors for the following reasons:
Investor alerts signaling STRONG BUY opportunity of VLXC stock
VLXC is considered to be EXTREMELY UNDERVALUED
VLXC (Veltex Corporation) is very active in trade shows
VLXC is an active member in ASI and PPAI (Promotional Products Association)
VLXC - is a relatively thinly traded stock that has GREAT potential for a MAJOR INCREASE IN STOCK PRICE
VLXC currently has a low P/E ratio, if it were to be trading at a P/E Ratio of 10X then the stock price for VLXC could JUMP to over $8.00 very quickly
RECOMMENDATION: STRONG BUY
How long does it take get out of Jail? How do I publicly request to MATT to reinstate me?
(OT: By the way, check out Veltex Corporation [Symbol: VLXC], rumor is starting to spread widely about how the stock price of VLXC is going to sharply rise for more than a few reasons)
Here is some information where no PUMPING is necessary if you just analyze it thoroughly enough.
BUSINESS SUMMARY:
Veltex Corporation (Pink Sheets: VLXC)
Veltex Corp. (OTC: VLXC) clearly has enormous appreciation potential based on its realistic revenues and net profits projections! It is very rare to discover a company whose stock is so undervalued and yet has everything in place for a dynamic near-term upward move to significantly higher prices. This is an extremely well managed company, with a strong vertical infrastructure in place that expects to generate revenues in excess of $40 million in 2004 with net profits of over $6 million or approximately $1.00 net earnings per share (EPS). The Company is currently undergoing its audit for 2003, which is expected to be completed soon. Furthermore, Veltex expects to have its 2004 audit done in the second quarter of 2005. Upon its completion the Company plans on becoming fully reporting with the SEC and moving to a larger exchange. Investor confidence should be significantly enhanced when Veltex becomes fully reporting. Additionally, larger investors and institutional traders will be able to purchase shares of Veltex once the Company is listed on a major exchange and is filing SEC statements.
We strongly believe that VLXC shares could justifiably be trading in excess of $10 per share (potentially much higher) within the coming 12 months. If the stock only carried a Price Earnings Multiple (PE) of 10 X, the shares would be trading in the $10 area, based on 2004's net profits forecast of $1.00/share! Our excitement is magnified by our belief that 2005 will continue to show substantial growth in revenues and net earnings. This year, Veltex plans to enter the $6 billion surf apparel industry and hire up to 50 new sales representatives in the first two quarters of 2005. Also, the Company has developed several products that it plans to market to major retailers such as Kohl’s, JC Penney, Sears, Wal-Mart and Kmart.
It would not surprise us if Veltex topped $50 million in total sales in 2005 and/or made some further synergistic acquisitions, which would further greatly expand the Company’s profitability. The shares are currently trading about midway between VLXC’s 52-week low/high price range and, in our opinion, present an exceptional buying opportunity for investors. Keep in mind that the “float” is relatively small at only 1.4 million shares, so, as the investment community “discovers” this company, demand will undoubtedly accelerate and, consequently, the share price of VLXC could move rather rapidly to much higher levels. That is our expectation.
This is truly a rapidly growing, exciting Special Situation with substantial upside appreciation potential!
CORPORATE BACKGROUND - EXPLOSIVE GROWTH AHEAD!
Veltex Corporation is a vertical manufacturing, import, and distribution company composed of three divisions:
v Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry and distribution of merchandise.
v Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products.
v KCA Garment Industries, specializing in the manufacture of garments, specifically shirts and pants.
The synergy between the three Veltex divisions gives the company the ability to offer extremely competitive prices to the contract ready-to-wear market and the promotional products market, because there are no middlemen. Veltex produces the textiles, manufactures the apparel goods, and can truck the order to the customer eliminating at least two markups in the process.
Velvet Textile Mills is engaged in the business of the production and distribution of high quality, specialized textiles, primarily for use by manufacturers of automobile interiors, furniture, and ready-to-wear garments. These materials include jacquard, denim, microfilament, velvet, twill, canvas, duck, and pinpoint oxford fabrics. Production is done in Bangladesh because of low costs that allow the Company higher margins of profit, due to the relatively low costs of the material and labor, compared to U.S. sources. Further, the Company can import many of its materials into the United States quota free, similar to other competitors from countries such as China, Vietnam, India and Pakistan.
Labor costs in Bangladesh are 95% lower than in the United States. At the Veltex facilities in Bangladesh, a highly skilled textile mill worker is paid approximately $100 per month, while unskilled workers receive approximately $50 per month, and these salaries are generous by Bangladesh standards. These labor costs are approximately 17% lower than labor costs in China and make the price of finished goods such as caps and t-shirts extremely attractive on the world market.
Bangladesh currently subsidizes 25% of the value of all textile exports and this subsidy is expected to continue through 2005. Further, the United States does not impose import quota restrictions on textiles from Bangladesh. This makes the goods produced for Veltex particularly profitable.
Veltex Apparel imports and distributes apparel and caps to the promotional products market in the United States.
Veltex Corporation purchased the name, inventory and warehouse contract of LA CAP in October 2002. Considerable competitive advantage exists for Veltex Apparel because of the vertical nature of Veltex Corporation’s manufacturing activities.
A garment generally carries several levels of mark-up:
Farmer to Yarn Maker
Yarn Maker to Textile Mill
Textile Mill to Apparel Manufacturer
Apparel Manufacturer to Wholesaler
Wholesaler to Distributor
A Veltex Apparel garment only carries three levels of mark-up:
Farmer to Yarn Maker
Yarn Maker to Veltex
Veltex to Distributor
In other words, Veltex capitalizes on its manufacturing capability and eliminates the Wholesaler from the sales chain. The primary reason for the existence of the Wholesaler in today’s marketplace is to import the merchandise from overseas producers and distribute that merchandise in the United States. However, Veltex has eliminated this need for a Wholesaler/Distributor by expanding into the United States, thereby creating its own Wholesale/Distribution operation.
VELTEX SUPPLY CHAIN – A MAJOR COMPETITIVE ADVANTAGE
Rather than compete with every other Bangladeshi, Pakistani, Indian, Vietnamese, and Chinese manufacturer of apparel in selling to the Wholesalers in the United States, Veltex becomes the Wholesaler, eliminating at least two mark-ups.
By eliminating the Wholesaler and selling directly to the Distributor at prices normally paid by the Wholesaler, Veltex immediately increases its market share. Veltex expects an increase in sales volume that will more than make up for any loss in its present Wholesaler client business because it will not be selling more garments for less money. Rather, it will be selling more garments at the same or higher prices it receives from its current Wholesaler customers.
Traditionally, the production end of the equation has remained fragmented:
No real organization between the textile mills and the garment manufacturers
Manufacturers establish sales relationships with the U.S. Wholesalers
Wholesalers have few relationships with the textile mills
Distributors have no relationships with textile mills and manufacturers
There is a barrier to Wholesalers in the United States creating their own mill and manufacturing operations offshore without extensive research and large investment
There is a barrier to manufacturers creating their own distribution in the United States owing to the low level of familiarity with US business requirements and practices
Veltex Chairman & CEO Javeed Matin used the knowledge he gained working in trade finance in the United States to open a trading business. In 1996 he became aware of a mill that was going out of business in the Southern United States, purchased the looms, and installed them in an old mill (Velvet Textile Mills) located in Comilla, Bangladesh. He funded the growth of Velvet Textile Mills through a reverse merger into a publicly trading shell in 1999, then returned to Bangladesh to manage the business of Velvet Textile Mills with the goal of building its business to a level that would support the creation of a United States distribution company.
By building Veltex Corporation in this fashion, he gave the company these unusual advantages:
Familiarity with U.S. business requirements and practices, as well as a wealth of contacts.
A publicly traded U.S. corporate entity.
A solid, well regarded textile mill and manufacturer in Bangladesh.
A revenue base in Bangladesh that produces approximately $20-million yearly, outside U.S. tax.
KCA Garment Industries has revenue approximately $29-million yearly, outside US tax.
A credit line supported by revenues from Velvet Textile Mills.
Veltex Apparel expects to under-price its competitors by $0.50 up to $2 per garment. Since Veltex already manufactures for many of the top quality lines, the product will be the same top quality but at a lower price. Veltex-manufactured garments are usually marked up 100% or more from the price paid to Veltex, so the Company can make more money even if it sells only the same number of garments. Nevertheless, Veltex expects to greatly expand its business through price competition, because it knows that its competitors cannot win.
TARGET MARKETS
Veltex Apparel sells to companies that sell to the end-user. There are two divisions:
Ø Promotional products distributors
Ø Consumer Labels and Gift shops
Promotional Products Distributors
This group is made up of a wide range of companies from Jack Nadel, Inc., to Universal Pictures and Walt Disney Company stores, to corporate promotions departments, to advertising companies, to online promotional products merchandisers such as CafePress.com, to small local t-shirt shops and personalized gift stores.
These distributors supply customers from Little League teams to major corporations, and their product is used for uniforms, corporate wear, and promotional gifts.
It is the thousands of distributors in this area of the apparel industry that make up the $6-billion in promotional apparel business done annually.
Consumer Labels
Major consumer apparel labels such as Polo, Calvin Klein, Guess and Swatch are moving into the promotional products industry with lines designed specially for these markets. Whether one is talking about these cross-market labels or the more traditional apparel lines such as Liz Claiborne, Perry Ellis, or j. crew, most of what they sell is produced by outside manufacturers.
Veltex Apparel is currently in negotiation to produce khaki pants and shorts as well as other garments for major names in the consumer apparel products industry.
$6 BILLION SURF APPAREL INDUSTRY & MAJOR RETAIL STORES
As stated, Veltex plans on entering the $6 billion surf apparel industry! Using similar business models as Roxy and Quicksilver, Veltex will create and design apparel and accessories in order to establish itself in the surf apparel marketplace. This will provide another area of great growth potential for the Company. Even capturing a small percentage of this huge industry will significantly impact Veltex’s bottom line, as the Company can offer its customers a quality product at much lower prices than its competitors.
Veltex expects its products will also be offered in major retail and department stores in the first half of 2005. The Company will offer its own brand name products as well as private label apparel and accessories. A new product line is currently being created and designed to offer additional options in this market.
RECENT FINANCIAL FIGURES – RECORD RESULTS!
Veltex Announces Record Sales and Profit in 2004
CITY OF INDUSTRY, Calif., Feb 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (Pink Sheets: VLXC), a vertical manufacturing, import and distribution company for apparel and accessories, announces preliminary, unaudited, consolidated financial results for Calendar Year Ending December 31, 2004.
Total revenues were $41,639,889. Net income was $6,034,417.
Javeed Matin, CEO of Veltex Corporation commented, "We are proud of the growth of our Company and look forward to even greater heights in 2005. At this time I would like to extend a heartfelt thank you to all of our worldwide employees, suppliers, contractors, customers and shareholders. Keep up the Good Work!"
As far as 2005, Mr. Matin commented, "We anticipate our completed US GAAP quality audit for 2003 will be issued approximately March 15, 2005. The 2004 audit is expected to be issued approximately April 15, 2005."
Veltex sales in 2003 totaled $19.99 million, Company sales in 2002 totaled $13.9 million, and sales in 2001 were $8.7 million. Audited financial statements for the Company's 2001 and 2002 results are available at the investor relations section of the Company's website
STRONG EXPERIENCED MANAGEMENT TEAM COMMITTED TO MAJOR SUCCESS
The Company’s management has diverse experience and major expertise in business, textiles, banking and finance, and the import and export business. Management is focused on major success for Veltex and maximizing share valuations.
Javeed Matin, Chairman, President and Chief Executive Officer, is the Company’s founder and guiding force. He has extensive experience in international trade and whole sale business.
Melissa Barras, General Manager, has many years of experience in management and administration.
Teresa Margaret, Customer Service Manager and Manager, has years of experience in Distribution Company and customer service management.
Jordan Ross, Vice President of Sales and Marketing, brings 28 years of sales and marketing expertise in the wholesale and retail marketplace. His experience includes assisting major retail suppliers in entering and penetrating the premium and incentive industry for corporate and special markets.
CONCLUSION:
We firmly believe that Veltex Corporation (OTC: VLXC) is severely undervalued at its current price of only $1.20. As a matter of fact, we can not recall ever finding a stock whose price is trading at LESS than two times forecasted Earnings Per Share (EPS). The Company continues to experience record revenues that have increased from $8.7 million in 2001 to projected $40 million+ in 2004. If one applies a very low and conservative PE of 10 X to 2004's projected net earnings of about $1.00 per share, it equates to a share price of $10.00, or about 7 times higher than VLXC’s current depressed price of $1.20. Moreover, the Company’s revenues and net income are expected to continue to accelerate at a record pace in 2005 and beyond. The current market cap is very low at less than $9.4 million or about one fourth of this year’s projected sales! Veltex has an exceptional management team, excellent profit margins, and is now positioned to become a major player in the multi-billion dollar apparel market. As a matter of fact, its distribution company alone could become a $100 million sales entity over the next few years. We are very enthused about the dynamic growth of Veltex and the incredible appreciation potential that we forecast for VLXC. We predict that this Special Situation will be a highly rewarding GRAND SLAM HOME RUN for loyal long term investors!