Retired
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"For all we know it was one person with a large buy order that was filled by multiple trades".
May very well be the case but then someone would have chipped in $8,500. He must know something we do not or he is much more fortunate than I am and a real gambler.
Let's hope you are right and he knows something we do not.
Interesting
Between 11:47:04 and 12:02:32 we got 17 trades involving 1,419,000 shares.
4 minutes later (12:06:26) we got a trade for 300 shares at $0.0059 (worth $ 1.77).
Can we assume that MM's are now here???
Hope you were told the thruth by your hosts.
Would be nice to know why Matin doesn't WANT to show some respect for his shareholders.
I personally beleive he enjoys having access to cheap shares and at the same time create an environment that will allow him later to say: "I told you".
If this is not a reverse scam I will be very surprised.
Till we find out, my shares are not available.
Again, till Matin gets off his a ss and start to behave as a responsable executive, our stock is worthless, whatever is reported herein.
CREDIBILITY is the only potential help we can hope for.
Would be darn nice to know who the heck bought these shares and who from ???
veltexisprofitable
The following is written keeping in mind that it comes from someone writing in a message board (not directed to you but to the nature of such a medium) and the bottom line still remains that, as you say: "i have no #'s........its a guessing game till the audit's released with profits/losses etc"
Taking out the color of the chairs and Kelly's hair, here is what I got out of your report:
- Matin is for real: "i can say i've met the man n make my decisions with a bit more confidence"(nice guy but who realy knows about his other qualities ... hard worker, lyer, manipulator, honestly trying to put up a great busines, ... ???):
- There is an office: "...the office is in a VERY NEW LOOKING industrial park near a shopping center in a neat little town."
- There is a warehouse: "packaged boxes inside(alot of warehouse space".
- There is an apparent operation out there: "VELTEX IS REAL(saw with my own eyes), IS IN BUSINESS (???), HAS EMPLOYEES (at least a couple), HAS STOCK IN THE WAREHOUSE (hope he also has some on the road), HAS A NICE OFFICE, HAS COMPUTERS, HAS DESKS AND CHAIRS, HAS TRUCK DRIVERS (at least one, not on the road).
- Still do not know if there are or how many trucks exist since you only met one driver obviously not on the road:"i did get to meet 1 of the drivers". There is a park for trucks but as you say: "there were many there loading for other businesses"
- Veltex is certainly not hiding and spent money to be seen, whatever the affair is all about: "there is large colorful lettering on the building spelling out "veltex" with the same graphics as on the website"
- You seem to confirm one of Matin's problem: "he's AMBITIOUS AS HECK". His December 4th 2002 business plan proved it and since he learned that trying to do to much to fast can get you in all kind of trouble.
- The infamous audit seems to still be for real: "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." This being said, till we see it, not much more to talk about. You add: "he seems to want the audit done as much as we do imo.......he says he hopes its done this month.... (36 hours left in the month???). We have to admit that he officially released of his intent twice recently and now apparently did it again verbally to you. Considering the legal exposure of such a behavior, the least we can say is that he is consistent.
- Still tough to beleive that an audit would be that complex to produce even considering: "the reason for the "paperwork problem", from what i grasped is because of the part of the company thats in bangladesh(foreign and u.s. #'s combined make it more complex). We shall see...
- Notwithstanding that: "sec said its not a good idea to post here as a company pres. so he doesn't." we also have to be concerned by the facts that he doesn't come back to us (release) when critical target dates are missed (last December 10th as an example) or when we write him personally (as I twice did over the last month).
SUMMARY
Till we see an audit, we will remain in total darkness. You messages herein are very interesting and I sincerely thank you for it.
This being said, short of being able to issue an audit immediately, Matin must come out with some kind of release outlining what Veltex status realy is.
- What did happen since his "ambitious" business plan was presented 13 months ago.
- What is the actual state of the company (unaudited numbers are better than none whatesoever)
- What is the company's strategic plan as of now?
The other recommendation I would like to make to Matin is to at least acknowledge reception of e-mails, personally or thru Kelly.
Notwithstanding you great report, after the market has been open for 2 hours, only one transaction was made at "buy" for 430,000 shares worth $ 2,623.00.
To me that says that Veltex' credibility is still not existing whatesoever.
You certainly have to wonder why Matin would accept such a situation, doing nothing to clear the air.
Thanks again for you contribution and I hope whatever you deducted from your visit, will be real, sooner or later.
Till then I sit on my shares and hope, not holding my breath.
Then he certainly doesn't hold Veltex shares.
At least my broker wants to be paid up front for PS stocks.
Very much appreciated your trip report. Thanks.
That being said we have to remember this is a message board with all the unknowns it represents by nature.
However, as often mentionned earlier, your report gives a lot of weight to my opinion that this is not a scam (doesn't realy make sense to me), could very well be a reverse scam and/or is a company that went thru tough times and may sooner or later make a very interesting coming out, to the profit of all, Matin most likely leading the parade.
As disappointed as I was mid December not seeing an audit, I could accept that Matin committed a specific time to release it (3 to 6 months), not considering potential delays.
Will not sell (not worth), will not buy (still to big a risk) and will hold till I loose it all or I can get my money back selling 20% of my shares (+ or - 10 cents/share).
To be honest, your message certainly made my hope go up one notch (have reason to beleive that a real operation exist) but I still do not hold my breath (look for revenue level, assets and liabilities more than profit and or loss initially).
Thanks again. I am going to bed dreaming once more. Who knows?
Never saw anything from this company, not even an answer to any of my e-mails to Matin. I do not count responses I got over time from V.Duff, considering she says she is not anymore directly involved with the company ... but prefer also to keep her shares).
As for Matin reporting (form 144) he would be personally buying millions of shares I suspect, never reporting anything he would not report that either.
Now if we assume he does buy millions of share, the real question is what for???
Not that you are worth being answered to but for aver one year now people herein and on the other board claim to have reported Matin regularly to SEC.
Either SEC cannot care less about potential small scams (relative to what is going on in the overall market) or these claims are all BS?
One thing is for sure, if such reports effectively were made, it doesn't seem to have had any impact whatesoever on whatever it is Matin is doing.
I can very well understand why people owning shares would not get rid of them considering they are almost worthless.
What I cannot understand is that some would have bought millions of shares over the last months.
Who can they be and why do they even consider this to be a logical bet???
I sure do not think any of the people involved herein or on the other board would actually load up. Then who in his right mind would throw in good money in such an incredible stock???
Unless someone knows something we do not, even a current price, I cannot understand how Matin could get that many shares bought at the present time.
ROLL THE DICES... and GLTA in 2004!
2003 is almost over and whoever has been involved in this situation must be quite frustrated right now.
Realistically, it has to be recognized that this may end up being quite a (small) scam that would have netted much less than $1,000,000 (+ or -) to those having lead it (assumption= + or - 100,000,000 shares at + or - 1 penny).
Whatever was done, some expenses had to be incurred (there is apparently a new site, someone accepted to have his name associated with the company, there are telephone lines, there is an internet site, releases were dissiminated all over the place, ...........). Then how much of the $ 1,000,000 would have been left for Matin to buy his presumed luxury cars and boat ???
This being said, after all the missed commitments made within official releases by the company during the year, none can yet say for sure that he knows for a fact that this is a scam, a reverse scam, a company having trouble getting its act together or anything else.
Fortunately, the PPS is so low, that I am not even tempted to drop my 250,000 shares for + or - $1,500. Very high reward potential always come with very high risk (probability) and in our case, it only involve a small amount to stay in the "game".
Very hanestly, if I was not already in, I certainly would not take that bad a risk throwing in $1,500 right now, but since I am already in, I certainly will not take the risk of saving $ 1,500 or so, to later find out that I left $15,000 ($ 0.06/share) on the table.
Assuming that there is something behind this stock, what would it take for the PPS to be worth that much?
Let's assume that there are 175,000,000 shares out there. A $ 0.06 PPS would mean a total capitalisation of about $ 10,000,000.
It wouldn't take much for such a capitalisation to be acceptable by the market. The company would not even have to be able to show a profit to justify that. As long as some optimism can be justified re: long term potential of the company, such a PPS would become very acceptable.
What I keep asking myself is:
1 - Who bought most of the last 150,000,000 shares issued by the company within the last 18 months?
2 - Why did they beleive it was worth doing it?
3 - How many shares does Matin control directly (or indirectly)
If I was him, would I work that hard to net few hundred thousans dollars or would I set myself up to make millions some time later?
Assuming the later, wouldn't my behavior justify a very small PPS so I can accumulate (directly or indirectly) as many shares as I can (percentage wise)?
Is that what we see?
Contrary to the MOUSE, the FISH and the other such animals herein, I do not pretend to know.
But even assuming Matin to be the crook some claim him to be, I can imagine a scenario justifying him to be an even bigger one.
That does bother me and I intend to see the bottom of it.
In summary we face 3 potential outcomes:
1 - Matin is a small crook working hard and running great risks so he can make few $100,000. Many pizzed off shareholders would try to get him in trouble causing him to at least incur legal fees.
2- Matin is a big crook having a strategic plan to cash in millions longer term. No one could have a viable legal case against him, assuming they even would care having made money themselves.
3- Matin is an honest hard worker, having seen to large a future, having met crooks on his way, having difficult time getting his company back on track, not being as smart as desirable but still smart and honest enough to try to pull out of trouble. Then we face two possibilities:
3a) - He succeed.
3b) - He fails.
Whatever scenario you want to pick, you can only doubt.
ROLL THE DICES... and GLTA in 2004!
veltexisprofitable
"i'm drivin down there friday and i'll sit there all freakin day....i'm gonna talk to this liar!!"
Have you???
O.K. Party time!
http://cards.deskmates.com/cnt/r9v.htm
http://cards.deskmates.com/cnt/wZh.htm
http://youarelame.com/spam/animations/WhiteTrashXmas.swf
Let's forget for few hours!!!
MERRY CHRISTMAS TO ALL (and I mean all posting honestly in here).
He! Big fish (and all your other aliases) since you have nothing to say and realy sound like a broken record, why don't you go away and try to have a life?
We all know we do not know (you included) and your constant unsupported repetitions are making you look as stupid as you probably are.
Not that I beleive in VLVT one way or the other, but I have the honesty to admit I do not know.
I do not realy have any issue with your plan to see if legal actions are or not possible but have a couple of questions that may be tough to answer, assuming that something wrong was done. Just trading ideas, not saying you are wrong. FWIW.
You write: ""Fraud" and misleading (not true)statements issued for the purpose of increasing the share value."
Question: Assuming this was the purpose, how solid would the case be since the share value did not significantly increase even went down sub-penny for months thereafter?
You write: "they released the financial data and then later said "oops sorry mistake".
Question: To the best of my recollection (stand to be corrected) the elapsed time between the two releases was relatively short. In this case, can't Matin say that he effectively informed the market rapidly of this "error". If I remember well, at the time this happenned, we found out that there were serious internal conflicts at Veltex and these may help justify the "error".
Finally, whatever Matin did with the proceeds of the new issued shares over the last year, he may have effectively spent it trying unsuccessfully to get the company back on track.
In this context, notwithstanding the affirmations of some herein, I suspect that a potential legal case would cost and most likely not even see the end of a discovery process.
Personally, I do not know what realy went on (very honestly no one yet knows) but, assuming the worst, if I had to bet I would bet that the odds are better on a "mismanagement bet" than on a "criminal scheme bet".
Whatever the case, I would prefer to have to defend Matin, as a lawyer, than prosecute him.
Let's assume that this will endup by a company folding and whatecer we put in becomes a writ off.
I would not spend a penny to get a lawyer involved because it would be to easy for Matin to demonstrate that he did try, met crooks on his way, made bad decisions and lost it all himself (not stupid enough to not have managed some kind of scheme to be able to make that point).
Then the only winner after years would be the lawyer and we would be in for an even bigger loss.
This being said, I do not know (neighter do you) what future is all about.
There is a nice place for you to enjoy yourself and I suggest you get back there. I am sure many would love to read your garbage on RB.
I assume we all know that we may very well be victim of a fraud or the result of incompetency in here.
Whatever the case, I very much doubt that we can have any worthwhile recourse.
Nowadays major scams and stock manipulations are going on and causing shareholders to loose millions. Who would care about what happenned with a sub-penny stock having cost shareholders altogether half a million or so over more than one tear???
May be after all this is what Matin counts on but I doubt it.
Looking forward to see how many new shares were issued recently.
To bad we cannot find out who has been buying recently.
Notwithstanding the different points of view expressed in here, I wish all the best at the occasion of the holidays.
I hope the link posted below will work for you, so:
1 - You can enjoy the building up of my Christmas card to you but
2 - more importantly, you can click at the bottom of the page of this site on: "A SOLDIERS POËM", helping us all to have a tought and a prayer for our Canadian and American militaries in Irak and Afghanistan.
Happy holidays to all!
http://holidays.blastcomm.com/
From what I can see, there was:
- 1 trade of 500,000 shares (0.006)
- 5 traded 250,000 shares
- 7 involved between 100,000 and 250,000 shares
Total for these 13 trades was 2,570,000 shares, the other 12 trades being on average involving about 35,000 shares ($ 200 transactions).
Why?
25 trades, 3,000,000 shares.
I can accept the possibility that these shares are coming from the company but what I have a hard time figuring out is who buys them and why?
Do not hurt my feelings!!!
I am in the Montreal area, it's cloudy and cold. The golf course in front of my office window is covered by 2 to 3 feet of snow and the whole scenery is black and white.
Give me a breack and let me forget where you live !!! Please!!!
REMEMBER how we got that and how long the illusion went for ???
Not that I expect it ... far from it ... but leaving them open at .225 may turnout to be quite bad.
If (quite a big one too) the PPS was to ever reach that level, it would be following darn significant facts justifying the PPS to be multiplied by a factor of 40 or so. In such an improbable eventuality, why would the PPS stop there?
If a capitalization (let's say 125,000,000 shares worth .225) of $ 25 to $ 30 millions was justified, why not $ 50,000,000 (so Shrotker get his $ 0.40? Then you would have left over $ 50,000 on the table...
The above being theory, not to say fabulation, only!!!
Did I miss omething?
Recent messages herein discuss number of operating trucks and potential acquisition, as if company there was.I certainly hope we get something as a release that would let us know what the financials actually are (audited or not ... I am getting quite less demanding).
Apart from being 90% sure that this is not a scam (doesn't make sense to me considering PPS) I personally have no clue what this is all about and what Matin tries to acheive by not delivering constantly.
If this turns out to be a total mess ending up nowhere and my shares become worthless I certainly will not say that I will be surprised.
On the otherhand, if this turns out, as I alluded to earlier, to be a company having gone thru great difficulties and getting back on track it will be quite a nice surprise. I however still do not hold my breath.
If future is to be good, I certainly hope we get appropriate information about the state of the company, before Matin claims again that he embark on a grand scheme, as he did on Dec.4th 2002.
Before shares are used to acquire whatever (assuming this to be an objective) Matin must justify a better PPS. Right now, 100,000,000 share would only generate $700,000 (you can't buy very much with that).
Demonstrating seriously and credibly that an operating Veltex does exist and that iy has a future by itself could easyly multiply the PPS by 10, to let's say $0.07.
Then may be, only maybe, shares could allow buying something worthwhile.
For me, the only significant development I look for is related to being convinced that Veltex does exist and does offer long term potential. Till then, I realy do not want to see any other release defining great activity (move, recruiting, acquisition, ...) presumably being done by an outfit we do not even know it exist for real.
Relativity!!!
Our PPS may be bad but...
One day, a father of a very wealthy family took his son on a trip to the country with the firm purpose of showing his son how poor people can be.
They spent a couple of days and nights on the farm of what would be considered a very poor family.
On their return from the trip, the father asked his son, "How was the trip?"
"It was great, Dad."
"Did you see how poor people can be?" the father asked. "Oh yeah," said the son.
"So what did you learn from the trip?" asked the father.
The son answered, "I saw that we have one dog and they have four. We have a pool that reaches to the middle of our garden and they have a creek that has no end. We have imported lanterns in our garden and they have the stars at night. Our patio reaches to the front yard and they have the whole horizon. We have a small piece of land to live on and they have fields that go beyond our sight. We have servants who serve us, but they serve others. We buy our food, but they grow theirs. We have walls around our property to protect us and they have friends to protect them."
With this, the boy's father was speechless.
Then his son added, "Thanks, Dad, for showing me how poor we are."
????????????????
LET'S FOCUS ON WHAT WE HAVE ... AT LEAST FOR THE NEXT FEW DAYS!
MERRY CHRISMAS TO ALL !
Let's get in Chrismas mood:
One beautiful December evening Huan Cho and his girlfriend Jung Lee were sitting by the side of the ocean.
It was a romantic full moon, when :
Huan Cho said
"Hey baby, how about playing Weeweechu."
Jung Lee :
"Oh no, not now, let's look at the moon" said Jung Lee.
Huan Cho
"Oh, c'mon baby, let's you and I play Weeweechu.
I love you and it's the perfect time," Huan Cho begged.
Jung Lee :
"But Id rather just hold your hand and watch the moon."
Huan Cho
"Please Jung Lee, just once play Weeweechu with me."
Jung Lee looked at Huan Cho and said, "OK, we'll play
Weeweechu."....
Huan Cho grabbed his guitar and both sang....
"Weeweechu a melly Chlistmas,
Weeweechu a melly Chlistmas,
Weeweechu a melly Chlistmas,
and a Happy New Year."
What were you thinking ??????
Not much work but following that stock and trying to figure it out has become a hobby for me. Semi-retired, I Follow about 40 stocks I am invested in, and 3 or 4 (including VLVT) I have bets on following past presumed investments that turned bad in time.
Now, ASSUMING MY IMAGINED SCENARIO TO BE REAL, Matin must not only be perceived as less than "that smart" he has to be perceived as incompetent, even stupid.
On the contrary, if he wanted to conduct a scam he would have to be perceived as smart, competent, and intelligent so people beleive he can pull out of his troubles in time.
PPS (absent of being an insider) is a lot based on perception and confidence
You need it to secure a good PPS, (Pumpers on message boards can help).
You must not have it, if your objective is to keep it low till you need it to grow (local helpers posting on message boards can help by bashing full time).
In any case, this is fabulation and will remain it till we know better ... if ever.
As for making a trip to the company, who was it that lived about 150 miles from the company and was planning to go and report?
Let's make the wait (for whatever outcome) more interesting.
Tough to figure out what the market is all about some times.
For 8 trading hours, not a single transaction in a stock that normally would not attract any buyer.
Then within 5 trading minutes, 645,000 shares are acquired by someone (1,2 or 3 people) that accepts to bet $ 4600.00 on a company we know nothing about ???
I can easyly imagine scenarios justifying someone (the company or a shareholder) to offer shares at $0.0065 right now (after all even most optimistic people have reasons to wonder if Veltex does or not exist, whatever is being released by it now and then).
What I have problem figuring out is, what makes someone right now, accept to bet few thousands dollars on this outfit???
I do not mind considering this to be a scam but what for? It would not even generate whorthwhile profit considering the "stability" of the PPS ???
The only explanation I continuously come back to, trying to figure it out, is that Veltex is a "reversed scam". Even the most possible incompetent executive (as Matin is according to some) could not conduct a scam as Veltex is assumed to be by some. Normally a scam should help the "scammer" to make money.
In the context of this "reverse scam" hypothesis here is what I would do over time, if I had planned it:
1- Now and then I would release news that advise all, that the company is operating, making progress and working toward making it a regularly reporting company (long term I would be able to refer to these official releases if need be)
2- I would never follow thru on promissed activities that I committed to in the above mentionned releases (I want to be sure that the market doesn't trust me and therefore the PPS remains as low as possible, as long as possible). If I was vicious enough I could even would plant a MOUSE and a TUNA FISH on message boards to help my plan.
- I would during that time acquire (or have someone do it for me) millions of shares for close to nothing (so it doesn't look to bad I must insure that time plays in my favor and extend the above described process for as long as I can). If shareholders do not accept to get rid of there shares for peanuts, I could issue new ones to insure availability.
- When I feel I have enough, after whatever time seems appropriate, I would gradually deliver everything I committed to earlier and offer credible justifications (or excuses) for doing it late (tough times, bad past decisions, complexity of auditing, ...).
Then the PPS would try to explode short term (however some, happy to escape with their money back would slow down this process, making it even more credible).
- During that period (let's say 1 year) I would let the market grow my PPS, continue behaving as any normal, hopefully successful company, to be sure this PPS growth continues in time.
- Finally, whenever I feel it to be appropriate, I would start letting go of some of my (or my "accomplices') shares (acquired at sub-penny level over an extended period of time) and thereby would fill my pockets with a lot of profit over time.
If this hypothesis is accepted (I very well may be dreaming) time is of the essence. Such an innovative scheme has to be executed on a very long term basis (2 or 3 years) and only requires 3 or 4 "accomplices" to be successful.
Who would ever be able to complain ???
Those having been scared away could only regret they dropped out and realy have no argumentation to justify an official complaint (assuming they even are still interested in the situation). After all, multiple official news releases gave them reasons to wait. If they decided to walk away, it was their decision.
Those having accepted to ride it, would fill their pockets with those having executed the pan and certainly would not feel it important to complain formally.
Don't we say that innovating is often leading to success (i.e. making a lot of money)?
This board now looks as the video of an auction being played backward.
$0.08 once, $0.08 twice, $0.08 ...
So was I (joking).
I just hope this $0.60 cents figure will not end up showing as the new "52 weeks high" figure, replacing the old $0.051 we have seen for a year or almost now.
May as well have fun with it. Not much else to do, selling being out of the question (for me at least).
How can you guys accept to dump your valuable shares at $.60, $0.40, $0.085 or $0.0085?
$0.0085 is possible (there is always a potential uninformed high risk taker out there) if you are very optimistic.
To get $0.085 all that is needed is a R/S of about 1 for 12.
You probably can get 40 cents if you're fast following a 1 for 60 R/S
and $0.60 if you see a 1 for 85 for 1 R/S and move fast enough.
I wonder if the company would buy back your shares at thise prices and in these contexts??? knowing what they know?
Bah! i prefer to wait and pass on this opportunity (???).
On the otherhand, selling my shares, I could buy 2,165 lottery tickets (6/49) and have 1 chance out of 6,250 to win $2,000,000.
HHHUUUUMMMMM!!! May as well leave my bet roll as it is.
Good selling to all.
Taken out of another board (Comments in () are from me):
16 Warning Signs A Company's Affairs Are Deteriorating (we do not even know if "Company's Affairs there is")
1. Heavy promotion of the stock by management or agents (certainly not our case).
2. Projections of unusually strong/lenghty growth (neighter this one)
3. Use of round numbers for predictions (none in here)
4. Questioning the motives or expertise of reasonable doubters ("reasonable" certainly doesn't apply to ours)
5. Strong claims to being the best, unique, or exclusive in a business (doesn't apply to us)
6. Defining the market narrowly so that, by definition, one is the leader (idem).
7. Ready excuses faulting outside forces when performance falls short (we do not even know if we have a performance).
8. Lateness in reported earnings, against either prior practice or SEC filing deadlines (We do not even report)
9. Change in outside auditors (We do not even know if we have one)
10. Change in lead banker without improvement in interest cost and/or size of credit facilities.
11. Substantial insider selling of stock.
12. Resignation of key officers or of directors.
13. Sales or margin trends diverging negatively from competitor trends.
14. Inconsistent management statements (We consistantly have no follow thru to theirs)
15. Identical seemingly rehearsed mangement statements.
16. Stonewalling when trouble is obviously present.
I often buy lottery tickets and even if I do not beleive I will win (our 6/49 lottery offer odss of 1 in 13,500,000 chance to win the big prize and 1 in 100 to winn a small one) but tell myself: "Why not me?. It wouldn't come to my mind to throw my ticket in the fire the day before the draw.
Honestly, at the moment that's how I feel with Veltex... Most likely will not win but who knows??? Some do!!! It woun't come to my mind to dump my sharesbefore the oucome is known.
Till then, I hope, I certainly do not expect to win and am not beleiving it will happen anymore.
The bad news is behind me, only possible news ahead is a good one.
You mean to say that there is more than one person able to be that stupid.
Unless they are smarter than I tought (or just know more than we do) and effectively they are trying to get shares at the lowest possible price.
Huummmmmm!!!
Unless there was an error, someone bought 450,000 at ask ($0.008). That's a $3,600 buy.
I wonder who and why???
Normally I do not answer your stupid unfounded repetition of your wish presented as fact but for once:
1- Unless you are Matin or an insider close to him, you know as much as I do (the difference is I admit I do not)
2- I do not need tax losses right now, having leftovers from previous years.
3- I do not mind leaving a $1,400 bet (long shot) on the table.
4- Volume as of 12:15 is 0000, bid at 5.5 and ask at 7. Nobody seems to accept to dump at 5.5. I wonder what volume you refer to?
You may be right, you may be wrong. To figure it out, just flip a coin.
If we ever come out of the current situation with a real company behind our shares, the following text should be remembered in due time...
From: Daniel M. Prescott [danprescott@yahoo.com]
Sent: Monday, November 24, 2003 2:09 PM
To: rule-comments@sec.gov
Subject: s7-23-03:
From; Daniel M. Prescott, Prescott Capital Management
Eighteen months ago, I left a 25 year career managing
client financial assets; most recently as a Sr. VP at
Morgan Stanley and UBS. I am now thankfully free to
"DO THE RIGHT THING" when managing client assets. The
blatant abuses of the customers financial assets and
of the system by those firms and others are
disgusting. The SEC and the public are now only
scratching the surface of the greatest abuse of all;
short selling and naked short selling. The current
proposed rule changes are helpful but do not address
the fact that unscrupulous trading entities can short
unlimited amounts of stock that is never borrowed.
This is done either through offshore accounts that are
not adequately regulated or directly through the
domestic market maker network. These criminals are
easily able to establish short positions that are
frequently multiples of the outstanding shares of
public companies with very little stock ever being
borrowed. The result of the relentless selling of
unlimited shares that do not exist causes share values
to plummet causing companies to loose credibility, not
be able to attain financing and ultimately go out of
business. How can the public stomach a financial
system that allows the basic law of supply and demand
to be violated with the creation of unlimited supply
of stock vs. steady demand? When companies fail, the
short sellers say the were justified because the
failed companies were no good and they were just being
smart. The reality is that the game is rigged! The
abused companies market caps decline to near zero so
they then fall under the radar screen of the
regulators and the investments by many unknowing
investors has been wiped out! The final ultimate
insult is that the HUGE ill gotten gains made by the
criminals may not ever be taxed because when they
drive a company out of business the do not have to
close out the short position because the stock no
longer trades! The investor gets robbed and the US
Treasury is denied much needed revenue. As companies
are being put out of business jobs are lost and
economic progress slowed. I have more to say and
information to give to those wanting to "do the right
thing" I can be contacted at danprescott@yahoo.co or
phoned at 314-374-5080. Thank you
Granted, the shares are only worth $0.0055 but I was expecting a lot more dumping of shares following the Dec 10th new illusion.
Shareholders seem to accept betting whatever is left, waiting to see the outcome and people are not even rushing in setting up for tax losses yet.
A real bunch of tough optimists in there...
Just did express my opinion and respect yours fully.
Let's hope for the best but I'm certainly not holding my breath!
As I can see the mouse is still around ???
As for your idea of dumping all blindly (i.e. before facts are known, I respectfully suggest that you remain carefull.
If nothing is released, we will never see $0.045 (no win)
If something less than credible and verifyable is released I doubt that the price will multiply itself 8 times. Many got caught once and would be reluctant to jump in and many other would use the opportunity to sell some shares to get some money back. (low probability of a win)
If something credible and verifyable is released then (unless it's to announced a shut down) the price may very rapidly get above your target price. (potential loss of opportunity).
My opinion ...Your call...