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IF:
1- An audited set of financials (2003) is effectively released within the next 2 weeks,
2- These do confirm that the past released of financials were almost accurate,
3- Matin confirm his intent to get listed on a real board,
Then $ 10/share is possible ...
IF:
4- The number of O/S hasn't gone through the roof (I doubt that)
5- We effectively own Veltex Mills.
To answer your specific question: Only Matin (and probably few insiders) know where this stock may be on December 1.
You have guts...
Best of luck (or is oy Breack a leg???)
Talking about visiting, I think it would be interesting to have someone visiting Veltex at The International Hotel,
Motel, & Restaurant Show in New York City.
As I said, I have no clue right now if this is a great SPECULATION or not.
Assuming I pump the stock shows a certain byass on your part.
Good trading tomorrow .... Ho sh.t it'today.
12.45 AM. I go to bed.
Enjoyed the exchange.
Good night.
I wish you a great visit and look forward to your report. (It better be before month end, otherwise, depending if an audit will have been released or not, this report may be totally useless.
Oups! Are you getting mad now???
Could it be that you didn't expect being chalenged as you may be used to on your other boards?
I wonder if you did not short the stock recently?
If you followed the board, you know I have no clue if Veltex is an illusion or the greatest thing since sliced bread.
This being said, your described visit sounded pretty foolish and considering your "game", seeding doubts and/or claiming you're in the know affirmatively is something the old shareholders herein have learn to be very relunctant with.
You are allowed to your opinion as anyone in here and these should be respected by all.
However your smooth hinting that you SAW things that tend to confirm the negative views of some on the company is as bad as the posts of some saying thet KNOW something we do not proving that Veltex is as great as the PR"s say.
The fact is noone in her does Know. We only can wonder.
The following is one of thereasons why I do not trust anything you write herein.
I love to debate but I also understand what the motivation of daytraders is.
At least in your case we know you are one (That I beleive ... or should i ???)
Profile for Rawnoc:
Job/Title: Full time day trader.
"I can describe in detail things I saw (pictures) that can easily be verfifed, or not" related to the Bingladesh plant.
So what and who would honestly change his mind one way or the other based on such a post on a message board.
As for your visit ... Why would anyone beleive your findings more than those of the person that visited the site 11 months ago? (see previous posts).
As you know, I had numerous exchanges with Victoria and as many (the tast one being Paul of E&E) she was discouraged by Matin's behavior and continuous disregard for their advices.
Both ended up being mad at Matin qualifying him negatively after they gave him credit for being a hard worker.
For a while Victoria caused me to stay in but currently, I stick in cause other more confidencial sources tell me that something is effectively going on and the risk of loosing it all "seems" less than the one of making good wit this "speculation".
Seems and speculation are the key words here.
I have dozen of reasons to beleive that the Veltex we own is not the one described by Matin.
I have as many reasons to beleive that the Veltex we effectively own is worth something ... I just do not know what.
As for the audit, the last time Matin committed to do one, he di (Anne Tahim). Unfortunately it was so much disclaimed that it was meaningless.
Within 2 weeks or so, our PPS will suffer a nose dive or a great spike.
Having gone from the most negative to the most positive feelings times and times again with this stock, I certainly do not plan to jump out the window or get all exited whenever the end of the month comes.
Still I enjoy the game for the moment (I may be sadistic or masochist or both ???).
Forget it, there is no way to verify the said visit of yours.
By the way, would you beleive it if I told you I have great pictures of the Veltex Mills plant in Bingladesh?
"you ain't talking to virgins"
That's the understatement of the year. I think he effectively talks to old tired whores having been manipulated so often that they have a hard time beleiving an orgasm is still possible !!!
As I said, this is just a message on an anonymous message board. I never said it proved anything more or less than your posts relating the presume nught visit you made on the site.
As you can see, not much (but the PPS) has changed over the last 11 months or so.
VLXC was and still is a speculation and anyone can argue whatever he wants... os needs (traders do try to influence the PPS).
However this is only an anonymous message board and not realy a good way to hanle DD.
Still it's nice considering some do post interesting opinions and even informations sometime (see: message 5479 from someone I know is who he says he is - joelawyer)
To be honest this poster also wrote at the time:
Posted by: veltexisprofitable
In reply to: None Date:12/29/2003 8:08:08 PM
Post #of 5499
more veltex info...re the audit
javeed said (he wants to get the audit out before the end of the year if possible....it depends on the bank.....they are waiting for 1 last piece of paperwork/info)
he said (THE AUDIT IS REAL AND IT IS COMING, "IT HAS ALREADY BEEN PAID FOR") and he's doing it because audits are needed for any company financing.
I CAN"T BE ANY MORE CLEAR FOR THE BASHERS.......HE ALREADY PAID THE ACCOUNTANTS!!!
obviously he can't give me #'s or details(nor would i ask...lol)....info has to be public n not given to one investor, but he tried to be very helpful
THIS IS AN AMBITIOUS MAN imo.....n i aint pumpin', u all know me....i've been negative as much as positive in my past posts....lol
but at least now i can say i've met the man n make my decisions with a bit more confidence
i 'm not tellin u to buy, sell or hold....i'm just giving u what i've seen. make ur own decisions. if u don't like what i post, drive there urself.
seems 11:30 - 12:00 is a good time that javeed might be in.
ohhhh.....their business cards nice also.....
He added:
Posted by: veltexisprofitable
In reply to: veltexisprofitable who wrote msg# 2700 Date:12/29/2003 8:24:52 PM
Post #of 5498
BASHERS LOSE!!!.....VELTEX IS REAL(saw with my own eyes), IS IN BUSINESS, HAS EMPLOYEES, HAS STOCK IN THE WAREHOUSE, HAS A NICE OFFICE, HAS COMPUTERS, HAS DESKS AND CHAIRS, HAS TRUCK DRIVERS
Someone said he visited, during business hours a year ago...
Posted by: veltexisprofitable
In reply to: None Date:12/29/2003 7:42:57 PM
Post #of 5496
well, i'm back from visiting veltex today and........
a few things for u all.....
1)i learned years ago to never critisize a man til i walked a day in his shoes. sadly i did that with javeed. i've said things before meeting this man. After meeting kelly, a driver, mr. mazhar u. haque(accounts controller), and mr matin today i must admit i had few facts correct abot them in my mind......ok , i was wrong....lol
mr. haque was an incredibly nice man. tried to give me coffee, showed me around the office and warehouse and spoke w/me about the company while trying to answer any questions he could. u couldn't find a nicer, more gentle man. i was a bit early so he chatted w/me until mr. matin arrived.
kelly was quite nice also, she came in from a short break as i arrived to say hello to mr matin. she has lite colored hair that is to around her shoulders. we joked about a few calls i had made to the office asking if it was real....IT IS.....lol
the driver seemed nice, just a bit more quiet n to himself than the others.
mr matin......GRACIOUS with a capital G.........invited me upstairs to his office(which is modern and homey)he has a large desk w/a comfortable looking chair n in front were 2 chairs(sorry for the details, just tryin to give u all i have)
behind those many feet back were more chairs/seeting(couch), looked like someones home. his office is HUGE. i'm sure clients are impressed.
ohhhhh......kelly, mazhar, etc are downstairs, street level...the office is in a VERY NEW LOOKING industrial park near a shopping center in a neat little town. they are near the end of a dead end street and the office is in the rear of the building(corner office with lots of glass so u can see right inside as u walk up)
i think there are 3 desks(if i recall correctly)downstairs and there is a door that leads from the office to the connected warehouse which had loads of packaged boxes inside(alot of warehouse space) and very high ceilings in case they needed to stack.
the trucks, i was told were on the road.....(but as i stated, i did get to meet 1 of the drivers)
there is alot of room for trucks and there were many there loading for other businesses in the park.
the office is "decent" size but the warehouse n javeeds office are "big".
there is large colorful lettering on the building spelling out "veltex" with the same graphics as on the website.
by the way,
black leather office chairs and flat monitors(computer)....quite modern
oh, back to mr. matin......
he talked n listened n never once tried to rush me out the door...lol
i finally decided to leave so i'd miss l.a. traffic.
i saw what dougieie meant when he said he can see it in his eyes.....he's AMBITIOUS AS HECK!!!
he pulled up in a dark mercedes, but it didn't look like brand new, nice but not new. kinda square shaped unlike the newer more rounded ones......so bashers, no sportcars u idiots!!!!
in stature he's not so tall, and he wears gold colored rimmed glasses(but i am colorblind....lol)
he carries himself well and has a very likeable way about him
more to come....tired of typing...lol
What a exchange. At least Rawnoc didn't get arrested behaving as someone planning a breackin...
Wish you both the best (may be somewhat selfishly ???)
Thanks and I hope you can get back in but only have a short window to move in. I want to be a nice guy but I have my own wishes also!
As I said before, on 9/9/99 I had bought my first 4000 (old) shares in this affair ($1,720) and tought for the last 5 years that this money was lost.
Today I sold 500 shares at $3.60 ($1,800).
My plan is now (unless I have darn good reasons to change it) to sell 1000 more shares at $5.55 (apparently miracles do happen.I never tought that I could sell 500 at $3.60).
That would leave me with 3,500 free shares and then God knows what could happen.
Give me $5.55 !!!
Again, not all you want but you can have total list of the trades for the day (15 minutes late) at: http://quotes.freerealtime.com
Combination of both sites should help you somewhat.
Sorry I do not have that
I don't know what site you were using but you can get a 15 minutes delayed Bid and Ask at : http://www.pinksheets.com/quote/quote.jsp?symbol=vlxc
One more comment:
Up to recently, Matin got small traders or speculators play a few $100's now and then, buying/selling lots of 100,000 shares or so. In this context, he did not realy run the risk to be investigated notwithstanding what was said on this board or the other one.
Now, it seems that many to jump in at the tune of $ 10,000 or more and the stock does trade at a price making it very visible on any radar.
IF Matin is just scamming in such a new environment, he then look for troubles that may get him in deep sh.t.
Not that I care if he goes to jail or not but I assume he does?
Assuming this to be true, I notice 2 sentences in particular:
1: "Veltex is currently undergoing its audit for 2003. Upon its completion the company plans on becoming fully reporting with the SEC and moving to a larger exchange."
Matin doesn't repeat his expected 25th of November target date but he does repeat that this plan is in the works.
2: "The company is now projecting net income to exceed $7 million for 2004 with 4th quarter net income in excess of $2 million. This guidance represents a net income of over $3/share for this fiscal year."
Matin hints that we still have only 2,000,000 O/S or so.
If that is true (to bad we cannot trust Matin as of yet based on his track record) we are in for quite an upward ride.
$3.00 profit per share X 10 (could be much more for a while) would mean a $30.00 PPS.
Wait and see is the only reasonnable thing to do right now and remain mentally prepared for all scenarios ... great or very bad (not much in between).
FOR THE MOMENT, EVERYTHING LOOKS AND SMELLS AS BULSH.T...
PPS fluctuations as of now do not make sense to me. Either traders and MM's are having a ball or someone knows something we do not.
In any case, the thruth should come out soon.
IF ... IF again, Matin effectively changed his mind that fast right at the time where he was looking (in quite an usual way may I say) for funding, it may very well be that a serious investor (I mean serious) was able to convince him that he The investor) would be prepared to invest big (Matin needed a lot of funding, much more than $1,000,000 to get to a $ 100,000,000 revenue level) if the company was to normalize its situation (audit, reporting, ...) and Due diligence had a base to start from.
If both (Matin and the investor)s)) were serious then Matin may finally has seen the investment in an audit worth whatever the real cost is (most likely less than $ 700,000).
The other event that could have had an impact on Matin's plans is the upcoming change in the tax law between the USA and Bingladesh. I however do not see what that could be.
In any case we shall soon figure out if that is another one of Matin's demonstration of his incompetence (if not worse) or if the long wished for outcome has finally arrived.
Finally, I certainly do not forget Matin's recent attempt to buy something he claimed we owned all along.
This is stil a highly speculative situation. Therefore it can go both ways.
For the moment I sit on money I considered lost a long time ago, I plan not to put anymore money in it and hope I will be able to sell some or all my shares at prices fixed a long time ago or rapidly to save whatever I can if Matin doesn't deliver once more on the 25th.
Always the same situation with this stock.
I understand that very well but if (quite a big one) Matin realy wants (for whatever reasons) to become transparent and normalize the status of the company, he should, from the 2003 audited numbers, use the opportunity to re-release the Q3 financials appropriately.
However, for the moment this remains a dream and based on past experience, a wait and see attidude is the only one I would suggest to anyone.
From different sources and past experiences, Matin may be anything from an "honest, unfamiliar with the American way of doing business, hard worker" person to "someone whose honesty is at least doubtful".
In this context, the ball is in his court and all one can do is wait and see.
This is the only valid question right now.
The audit (a credible one confirming past released financials) is released on time ... there we go, the sky being the limit.
For any reasons in doesn't, then there we go (down) once more.
Let's hope past is not an indication of what lies ahead.
Note: I hope the audit (if released) clear the ownership of Veltex Mills and the number of O/S out there also.
I may be wrong but I think some are accumulating and doing it in interesting volumes:
10:12:50 AM Trade 2.95 1000
10:12:46 AM Trade 2.95 4000
10:12:44 AM Trade 3.00 5000
If this happen to be a unique buyer, he put up $ 30,000 to acquire 10,000 shares of a Pinksheet, unaudited, unreporting company.
Even throwing in $ 15,000 for 5000 shares of such a speculative stock seems important (to me at least). I wonder if this is gambling or DD based "investment".
Whatever the case, there is only one thing I am sure of ... Before the end of the month, we will have quite a surprise. What I am fare from being sure of however is if it will be a very nice or a very ugly surprise ???
My (short) wish list:
1- A credible set of audited financials (2003) will be released by November 25th.
2- Matin will accept to tell us how many O/S are out ther.
The game is becoming somewhat more serious:
2:32:18 PM Trade 3.04 2000
2:26:26 PM Trade 3.04 2500
2:26:10 PM Trade 3.04 2560
6 to $8,000 a pop (if this is not a single buyer throwing in $ 20,000 + all by himself) is enough to make someone quite pissed if this is another of Matin's gimmick ...
Let's hope this (these) buyer(s) know(s) something we do not ???
I have a practice not to trade in and out (even with my speculative stocks) but I soon may do smething I am not used to ...
Of 2 things one:
1- Matin is scewing us all and new shareholders
OR
2- Something serious is going on and some do know about it.
Had I not been burned so often in the past, I probably would assume the second possibility.
However, I have been let down so often by Matin in the past that I prefer to manage my level of expectations (at least till the end of the month.
Now I DO HOLD MY BREATH !!!
Wouldn't be nice to know.
Last week (5 days) 1,684,700 shares were traded (open $0.75, High $3.10, Close 2.05)
This week (4 days) 227,600 shares (open $2.55, high $2.55, close $2.15)
We can conclude that a lot of shares have been traded multiple times but we now have a lot of shares out there owned at costs in the $2.50 range.
Who bought them? JMHO but I suspect some did accumulate large amounts of shares, knowing more than we do and as often said herein, I think this process started some weeks ago.
I also assume that many did sold their shares bought in the under $1.00 range taking a profit and walking away.
However this is only an opinion and a much more negative one (Matin dumping shares in the hands of naive new shareholders attracted by recent NR's.
One thing is for sure. Before the end of 2004, some will have regrets. May be those who did dump their low cost shares (but a profit is a profit) or may be those who bought up to $3.00/share (If Matin doesn't deliver by the end of the month).
My main reason to worry is the still unexplained attempt to issue millions of shares to buy something we supposedly own. This one realy bothers me.
I also sent the text of the Tax treaty to a lawyer and fiscalist, probably understanding what it means better than I.
If he has time to look into it and answers my questions, I will post his answers herein.
However I realy wonder what the move Matin did try to make at the last BOD realy meant.
No jumping up and down here. You noted I keep refering to this trial of Matin to acquire something we presumably owned all the time ???
As I said, he certainly doesn't try to keep a low profile:
Veltex Corporation Attending International Hotel, Motel, & Restaurant Show in NYC
CITY OF INDUSTRY, Calif., Nov 4, 2004 /PRNewswire-FirstCall via COMTEX/ --
Veltex Corporation (Pink Sheets: VLXC), a vertical manufacturing, import and
distribution company in the apparel industry that is headquartered with sales
and marketing offices in City of Industry, CA, and with its factories in
Bangladesh, announced today that it is exhibiting at The International Hotel,
Motel, & Restaurant Show in New York City. The trade show will be held at the
Jacob Javits Center from November 14 - 16, 2004 and Veltex will be at booth
#1320.
The International Hotel, Motel, & Restaurant show expects to have in excess of
50,000 trade show attendees.
Veltex plans to launch a major introduction into the "Corporate Identity
Wearable Business." Veltex plans to showcase its custom manufacturing apparel
capabilities to the multi-national corporations in attendance at the show.
Additionally, the Company plans to offer all fellow exhibitors an opportunity to
learn more about the Company's corporate casual apparel program capabilities.
Javeed Matin, CEO states, "The International Hotel, Motel, & Restaurant Show is
the second largest trade show that Veltex attends, only the NRA Show in Chicago
is larger. Trade shows are an excellent way to meet our clients one on one and
are vital to our business. We will be increasing the number of shows we attend
going forward."
Veltex Corporation is a vertical manufacturing, import and distribution company
composed of three divisions: Veltex Apparel, specializing in caps, apparel and
apparel accessories for the Promotional Products Industry and distribution of
merchandise; Velvet Textile Mills, specializing in the manufacture of high
quality fabrics including velvets, 100% cotton twill, denim, sheeting for
consumer and industrial products; and KCA Garment Industries, specializing in
the manufacture of garments.
That's a fast summary of what I was trying to say in my previous post.