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Just for fun.
Assuming there is a future for VELTEX and it starts reporting normally, I was wondering what the stock could be worth assuming interesting revenues and reasonnable loss with justifyable positive expectations for the future. I went to look at another company and found WAVC, an OTCBB stock (CLOSED AT $0.223 on friday).
I very well know that comparisons are never perfect but just for fun, here s what I found:
2003 (unaudited):
-Current assets... $6,275,749
-Total liabilities:$4,193,200
Common Stock, $0.001 par value
per share:
-issued and outstanding -
140,337,611 shares at
September 30, 2003
116,755,119 shares at December
31, 2002
-Accumulated deficit...$84,539,846
CONSOLIDATED STATEMENT OF LOSS
9 months, ended September 2003
-REVENUE...$9,848,579
-NET LOSS..$1,338,854
-DILUTED LOSS PER SHARE...$0.011
I wonder what Veltex (different industry but similar number of shares outstanding)) would be worth per share if the type of revenues discussed earlier were for real and profit or loss was reasonnable?
However we aren't there yet if we even will ever be...
What a return in the past.
Following this specific recommendation, I found out my 4000 shares, bought at $0.43 3 years earlier were not gone but still alive. I then averaged down to 10 cents/share, buying 26,000 additional shares.
This being said, reading it again and remembering what V.Duff said earlier (see a previous pos by I do not remember who), I particularly note:
"The company is reported to be negotiating with a Memphis long-haul trucking company. Matin stated, “I hope to soon report to our shareholders a signed letter of intent. If we then successfully complete the negotiations, we will immediately increase our trucking capabilities by multiple. Such increased capacity will have a profound effect on our revenues and most likely our bottom line results as well.”"
The basis of my hope (or dream) is the possibility that this is what got Matin in deep trouble over the last year and he had a lot of trouble surviving this disaster.
Up to Dec 4th, 2002, Matin still beleived that trucking was to be veltex's cow. he wrote in his business plan dated that date:
"Veltex Transportation is currently buying trucks to fulfill a contract on the table with FedEx. Fed Ex would be low-profit for Veltex and Veltex is considering accepting the FedEx contract, among others. Veltex is currently in the process of trademarking Veltex Transportation."
IF there is future for this company, I ASSUME (do not know) that Matin, after a disastrous year in this transportation business, repaired the damages caused by this adventure, got back to something he knows better and got something worthwhile back together.
This being said, beleive me, I haven't yet plan what I will do with my future gains with this stock. For now it's only a bet I enjoy wondering about...That's all
I do not know but I do not read much out of it.
Assuming as promissed twice already (June and November) something serious (audit???) is to be released soon (On or before Dec.10th) my thinking is that the next release could come on Dec 4th or one year on the day after Matin outlined his dream last year (Documented Veltex - Business plan).
Dec 4th is a Thursday.
However if you happen to be right and Matin has reasons to always release on these two days, December 10th just happen to be a Wednesday.
Pretty much what I could have written, owning 250,000 shares at $0.0201.
My crystal ball tells me that this stock will SOON be worth $ 0.000000 (US or CDN) or $0.10+ (capitalization of$15,000,000 or so) within one year.
However my crystal ball doesn't tell me when.
If I sell now, I will get back US $1,500.00 and record a loss of $ 3,525.00. I just do not have the gutts to run the risk of missing a potential US $25,000.00+ jackpot.
A 16.7+ to 1 odd seems worth the risk to me.
Thanks, this maniac mouse is now out of my world.
Is there an "ignore" function on investorshub. I would like to get rid of the mice.
Just came back and read recent messages except those from the azzhole.
My view is:
-We still cannot confirm one way or the other what the object of our exchanges is all about,
-The last official commitment was to the effect that we should know more before December 10th,
-History effectively justifies whatever doubts we may have
-After months of unverifyable news it seem (I live to far to see it by myself) that a positive "move" was nade and officially announced
-Few days later a person with a public profile joins the company and it's announced officially (I will not enter the debate about what a good "sales person" should be but am happy to see new "experienced blood" coming in
I then conclude that Veltex probably exist, I do not know what it realy is all about, it is still a non-audited, non reporting pink stock therefore a gamble that could go either way.
I still wait till dec 10th (may be as early as the 4th) to see if we will get something (preferably a credible audit report) we can trust in assessing whatever potential may or not be there.
As for V.Duff, she confirmed what was reported herein recently and did not read negatives out of it.
Obviously Mati did try, got thru big troubles, had to wakeup after he was dreaming and seems to still be alive. We should soon be able to better know where he stands ... at least I now hope where I previously dreamed of.
Till then, whatever happen in the market I consider the result of some "playing" with the stock and read nothing in it, good or bad.
I unfortunately have to go away from my pc for 3 days but I noted in a site refered to herein:
His motto in business is "Integrity, Nothing less than Integrity."
As your financial services consultant, Jameel can offer you the benefit of his extensive background in sales, service, and management.
We shall see but the key is to get numbers in an "integrity context".
Have to go.
I assume that with recent move, daytraders and MM's may have been attracted and may be even starting to set up for their future play but right now volumes do not seem to justify such an Hypothesis.
As usual, anyone looking at this stock has no way whatsoever to justify any future scenario, real good or very bad. Only Matin seems to have the key to the thruth.
At least, up to now, nobody proved that there wasn't a move but nobody was able to confirm it to my recollection (stands to be corrected).
All we can do right now is project our dream or nightmare but we realy have no basis to justify whatever it is we think the future is.
Matin said June 10th, within 6 months (on or before Dec.10th)and all we can do is wait and see. Weeither now are use to it or just desperate from it.
If that ever turns out to be great, a book should be written about the history of this company but everyone would beleive it to be a joke.
"then we may have to wait a bit longer for the stock to get
to higher levels"
Waiting is a specialty for those that have followed that stock over the last months ... even years. 3,6, 9 more months, having confidence, would be an enormous improvement.
As for the buyback, I very much doubt it. However, IF (the big IF again) justifications brings the stock in the 2 digits figure, I can very well imagine a 10:1 reverse split to get this company out of the penny stock environment and attract investors instead of speculators.
All of these speculations assuming that Matin will make his "coming out" before December 10th. Wouldn't it be nice if he was doing it December 4th, a Thursday, again this year ???
Waiting for convincing facts, I certainly will not get to exited till they are out ... IF ever.
I am still far from being confident, having seen all the many unfollowed-on promisses of the past but I also have no intention whatesoever to get out after that long a wait to get to the bottom of that story.
Thinking positive about the company however my view is that Matin did generate gross revenue to the level refered to in the past but drying to realize his dream, he invested at loss whatever profits he may have made, the proceed of issuing shares and, at the same time got himself in a very difficult cashflow situation.
Therefore my expectation is to see (if it come out)
-Capacity to generate Gross revenues
-Past bad expenses and write-offs
-Potential to succeed at both level thru a realistic plan of action in known territories.
If this happen to be the case, then patience would be greatly rewarded. May take a few quarters to prove the validity of the plan, even a year but it could be worth waiting some more.
I also hope that Matin will get (and listen to) good advisers in the future.
COULD IT BE ???
Remember the "SYNERGY strategies" that many corporations dreamed of some time back?
1-Many of them are not even operating anymore,
2-many got badly hurt in the process and
3-some still barely survive after embarking on this venture.
Could today's Veltex be one of the last 2 groups?
Could Matin have survived his catastrophic experience and learned from it?
Could it be that Matin has decided to go back to a business he knows best?
6 days before December 10th (???), a year ago, here is what Matin dreamed of:
Business Plan December 4, 2002 (abstracts)
-Trucking and Distribution
Veltex Corporation expects to have acquired 106 trucks by the end of 2002, financed through Daimler Chrysler Finance and Volvo Finance. The company expects to acquire an additional 100 trucks by the end of 2003 in order to meet the outstanding demand for its services.
-Marketing
GoVacations, Inc. is a Nevada Corporation. GoVacations adds a dimension of marketing skill particularly suited to the distribution of apparel promotional products and conventional clothing lines.
-Holding Company
Veltex Corporation plans to build the company into a diversified holding company with assets in manufacturing, distributing of wholesale apparel and other goods, and trucking as well as other industries that are synergistic yet will protect the company’s ability to maintain and report good earnings regardless of the economic climate at the time.
Veltex will be responsible for
· Consolidated accounting
· Management oversight
· Group services including advertising and brand marketing, insurance (in planning), etc.
· Capital raising activities
· Borrowings
· Multi Modal Transportation (U.S.A.)
· L.A. Cap (U.S.A.)
· GoVacations (U.S.A.)
· Velvet Textile Mills (Bangladesh)
Additional private companies will be purchased in keeping with Veltex’s plan to build a diversified holding company in the United States. Currently, the company is reviewing a potential purchase of additional manufacturing companies in the United States.
-Marketing Plan
Veltex Corporation relies on two primary advantages in attracting business:
· A highly experienced and extremely well-connected Management Team
· A unique synergy between the subsidiary companies.
This is the sort of interaction that can be created by the joint efforts of a highly creative team of entrepreneurs.
The build-out of the Veltex Corporation holding company will be primarily financed by revenues from the manufacturing and trucking divisions.
-One week ago November 11th, 2003)
"We are focusing on building Veltex Apparel," said Matin.
Could it be than Matin remembers December 4th as an important date in his histoty?
COULD IT BE ???????????
Certainly hope you're right.
Personnally, I am in "LONG" and will only play IF Matin delivers as promissed before Dec 10th and give us a view of what's behind the walls for real.
If (caused by manipulators) shares start going up without logical explanation, I will look at the show from the sidelines (unless it approaches 10 cents).
If, on the otherhand, following release of valid audited financials, we effectively see revenues of over $10,000,000 as an example (much less demanding relative to current bottom line), then a 2 cents level (capitalization of less than $3,000,000) may be a resistance level but then traders and speculators will start to reset positions before PPS becomes a reflexion of what the books will say and what the plans seem to promisse.
Actually my view is:
-Either VLVT is a past loss (my cost is below 2 cents) or
-VLVT has potential as a real reporting company having its difficulties and opportunities.
In both case, I (very personnel view) consider a 2 cents PPS irrelevant ... long term.
Very much like your analysis but wait for information from the source... if ever it becomes available ... before I plan and do anything with my shares.
In my view, VLVT is either a gold mine (considering where we come from) or an empty pit ... as we could once again find out ... till further notice.
I sincerely share your views about Matin having gone thru tough times, worked hiazz off and now being ready to do the committed coming out we all hope for.
This being said, till this company starts behaving as a real enterprise (audited, reporting and communicating verifyable facts whenever appropriate) it will remain a 100% gamble.
Between now and when audited numbers (by a verifyable auditing firm) are released (presumably within the next few weeks) we should see action in the market, speculators, daytraders and money managers playing their short term game in an environment (market expectations) they like to play in.
That should be fun ... till it gets serious.
Looking forward to it, firmly sitting on much less shares than you but enough to make it interesting.
Coming from where we come from, quality (if you mean detailled financials) will not be as critical as VERACITY and VERIFYABILITY ... if such a word does exist.
Do not take me wrong, I definitely hope we are coming out of darkness after an eternity of wondering if VLVT is a total loss, something that could survive or a potential good placement... may be even realy good.
This being said, after all the false starts, I do not think it is navity to be very careful and manage your level of expectations, notwithstanding the last 2 PR's.
I also outlined a scenario saying that after having made decisions that did turn out to be less than successful, Matin may have come back on his tracks to have a better situation to grow from, in a domaine that he knows best.
This being said, notwithstanding the temptation, I prefer to be careful and wait for delivery of commitments in a verifyable way, before I start figuring out what my 250,000 shares may or not be worth in time.
I have no doubt that you made valid calculations (I presume from your observations that stocks are being issued at a slower pace) but let's be honest, the said calculations are only based on hypothesis that have to be confirmed by the company.
I certinly hope you are right (even think you are) but I also try to control my enthousiasm. Whatever dishonnest tricks is pulled by the management of a pink stop, unaudited, unreporting company, in current days, the management generally does not have to face consequences. There is so much garbage going on in serious businesses these days that small crimes as one that could have been done by Matin, are not even looked into, never mind prosecuted. This is the butiful world of PS and OTCBB. Very high risk, great potential.
Let's wait and see since that's all we can realy do till facts get known.
More optimistic than before but careful,
Either when the MM's want to play this stock (then it will swing up and down at their will and be carefull.
Otherwise, if and whenever Matin delivers verifyable audited financials produced by an auditing firm having a reputation and offering the possibility to be found.
We have been burnt once with a false audit produced by a non-existing firm, if I recall well.
Notice, I do not mention if the said financial have to be nice.
DITTO!
1 full penny for the first time since July.
Still do not hold my breath but that's better than what we are used to.
Let's hope justification for current "enthousiasm" (???) becomes available soon.
Welcome and I hope Mr Matin, following the last 12 months intends to listen to whatever you recommend.
I know you enjoy it a lot but I suggest you keep your enthousiasm under control. We have been disappointed so often...
Personally I try to understand but also try to keep my joy or reverse for when we will KNOW more.
It's obvious that most herein or anywhere else in the market do the same (wait and see). Notwithstanding recent apparent great developments, PPS remain sub-penny (capitalization or perceived value of the company at $500,000 or so) and very low volume (6 trades, 270,000 shares, less than $1700 worts after 2.5 hours of trading).
A long time since we had reasons to think that may be ... just may be.
The best news recently is that GURU has become nervous again, rehashing his 1999 garbage...
Let's just hope that, whatever the FACTS are, they will soon become known.
Jezus!!! I tought I was back on RB board and that Guru crossed my barriers.
Looking forward to your findings.
Buybacks ??? You know, this situation is so unreal that everything is possible. This being said, if Matin did that, I hope I will be sitting whenever I find out. What a shock it would be to find out that he bought back a couple of 10,000,000 shares with whatever money he would have. He recently could have easyly bought bach 20,000,000 shares for a great $ 60,000 or so.
Following this question, I decided that for tonight, I will have smooth dreams instead of nightmares. Anyhow I shouls wake up again tomorrow closer to whatever outcome we will find sometime in an undefined future.
Whatever happen, one way or the other, Matin will realy have played with us over the last year ... or is it two?
Nothing ever comes out cleanly from this "affair".
I have been in all markets for years but it's a unique situation. It never seem to make sennse whatever hypothesis you try to support.
Very special...
Assuming that by year-end we got 2002 financial results and
unaudited 2003 quarterly results, as mentionned this morning, the question will then be: "How much is this company worth to a buyer" i.e. What capitalization make sense?
Last night, the market answer (assuming 150,000,000 outstanding shares)was $500,000 or so.
Today (at noon) it was $1,000,000
What will it be when (and if) we KNOW:
- Sales
- Profit or loss
- Balance sheet
- Expectations for the next year(s)
If we get that, we should have a lot of fun figuring it out!
What kind of answer would justify a total company value (proce someone would theorically accept to pay to buy it outright)of $2,000,000 (13 cents per share)? $5,000,000 (30 cents per share) or whatever?
For the moment however the only valid question is: "will we effectively get this information, this time? (Please do not feel to answer unless you are Matin and even then ...)
As we say in french "Chat échaudé, craint l'eau froide" (Cat burnt by hot water, is afraid of cold water).
This being said, today's press release is (potenially) by far the best news we had in a very long time. What I like about it is (please...I know we have been disappointed in the past and do not need advice that this could be ... even less "IS" ... another empty promisse)
- First, and to be honest I did not beleive (do not know if I now do) an audit (whatever kind) would be delivered in the time frame committed on June 10th. This time Matin does not extend the period of time required and sticks with what he wrote 5 months ago, more precisely: "the audit of its 2002 financial results should (would have like to read: "will" but o.k....) be completed within the month, and the company expects to release its unaudited 2003 quarterly results in conjunction with the annual financials.
- Second no expectations are beeing raised regarding what the audit will or will not show. Knowing that the company operates, generates some kind of revenues and generates a defined bottom line (profit or loss) would be an enormous progress and finally establish a starting point to consider
-Third, as I suspected and still do, the grand vision of a very diversified synergetic strategy seems to have failed and more realistic view of the future seems to be now envisionned. In ather words, Matin tried, did not succeed, did not go bancrupt in the process and now becomes more realistic.
-Fourth, Matin outline a strategy that could succeed by writing: "we are focusing on building Veltex Apparel" and "Veltex Apparel has an advantage of being a vertical producer of apparel, from manufacturing the textiles to sewing the garments to distributing the apparel -- all within one company. This structure provides lower overall costs and allows
us to price our garments very competitively with larger target margins than if we were simply importing the garments for distribution as many of our competitors do."
All in all, I DO NOT YET KNOW what lies ahead but I certainly feel better than I did 24 hours ago.
One week ago I wrote to Matin, gave him my view of what I tought was his position and did ask him "to come clean with us, say it as it is, shoot strait relative to what he went thru and give us the exact picture of where Veltex stands, forgetting about "unbeleivable, great future".
I have no clue if my note influenced it at all but this last press release is a step toward answering my request. Hopefully he will drop the next shoe within the next 30 days.
As I always say: "future will tell".
I just wonder??? When will we be fixed on what that is???
My portefolio is behaving extremely well this year and Veltex remains a small gamble that I find entertaining and whoknows? May be one that can bring return ...
However, the only source of information is this board and as such, great prudence is required and no one should have in this stock what he can afford to loose just for having shared the fun here in.
Affirmative negative advice from some (Recently some created new aliases for themselves), probably false Pr or not???, not a word from Matin for 5 months today, we realy know nothing about the next card to show up. This is gamble, those in here realy wanting to sit at the table have whatever number of shares they wanted or got stock with and most probably, as I, do not realy need to sell at 1/3 of a penny.
I just have fun reading many messages from people selling whatever they want to have others beleive (buy, sell or hold) but honestly, does anyone in here realy beleive what is written in here.
Personally I sit on my shares and either wait for the company to fold or become credible. To become credible, not very many means are available.
This is the pink stock game...You never know for sure what you have ... if anything.
I do not know if you speack french or not but if appropriate I can help with french.
I am very cool, only have $625 left on the table, I do not know whar hero you refer to and have very small expectations regarding 12-10-03.
I will also stop loosing my time with you (including all used ID's) and stick with my shares till a final (or more interesting outcome is KNOWN.
Till then continue writing to yourself and may be you can even call youself on the phone and be impressed by the person at the other end of the line... unless he knows who he is talking to ...
Get lost (i.e. go back to RB)
He! you now write to yourself???
Whatever turns you on...
Personally I have not look at the stupid RB (VLVT) board for a long time and have no intent to go back in this ridiculous site in future.
October 27, 2003
I sincerely hope you will finally be stopped from posting on this otherwise useful board and sent back to the more appropriate environment for a person (I try to be polite) like you.
That would be nice but very unlikely at the present time. He very probably can better use his cash (whatever he has) to restructure what ever Veltex had become.
A better plan would be to get to a not loosing situation, set the record straith with the shareholders, start duly reporting then reverse split at 10 of 25 to 1... If real future there is.
Remember, any time Matin issued a wire, he did put his foot in his mouth and he probably doesn't realy know how to follow thru with his June 10th release.
As I said he will have "to make his comingout" sooner or later and this hidden article (the darn guy must know we somehow would get it in here) may just be a step toward getting himself out of his trap.
May be someone is helping him and may be he starts to listen a little.
Future will tell.
Interesting!
That (" we are pleased to NOW FOCUS (capital letters from me) on building Veltex Apparel," said Javeed Matin) fits very well with what I said I thought in message number 2011.
I do not know if two great outcomes, back to back, are in my cards but I recently got involved in a company, buying shares at 14 cents CDN (then total capitalisation was $5,600,000).
I heard about them, went to meet the management early April (Quebec city is only 165 miles away from home)and saw someone very tired, having nice gadgets but close to no revenue and telling me he got the company in trouble by shooting all over the place and trying to spread himself to thin. He then was out of cash but had a brand new business plan, GETTING HIM BACK TO THE BUSINESS HE REALY KNEW and dropping less familiar lines of business. He added that, without being certain he had attracted new people and that a potential investor seemed attracted by the NEW PLAN. I decided to bet on the guy who seemed to have learned from past experiences.
Then:
- ... Announces The Appointment Of A New CFO And Member Of Its Board Of Directors (CCNM, May 9, 2003 08:30 AM)
- ...: Conversion of Debt and Update on Restructuring Plan
(CCNM, July 25, 2003 05:34 PM)
- ... Announces the Appointment of Key People to its Board of Directors (CCNM, September 15, 2003 03:55 PM)
- ... Signs a Letter of Engagement With xyz Securities For a Five Million Dollars Financing (CCNM, September 15, 2003 03:55 PM)
- ...: Conversion of Debt Through the Issuance of Shares of its Authorized Capital (CCNM, September 16, 2003 07:47 PM)
- ... Closes a Four Million Dollars Private Placement
(CCNM, October 21, 2003 11:27 AM)
Beleive me, I think the person I met last April probably was in a "Matin type situation" and what he then said sounded like what you just gave us to read about Veltex.
Following that, the stock went up to $1.04CDN on November 3rd and I sold 15% of my shares at $1.00 and still have 85% of them at a zero cost.
May be a second great outcome could be in the works.
Any kind of real business (we do not realy know yet if VLVT is, but ...) having a capitalization of less than $ 400,000 and a business plan accounting for past errors could have a future.
I do not know and none of us realy does. If we knew we either would be out or the stock would be worth more than 1/4 of a penny.
Do not ask me why, but I think Veltex COULD turn out to have been a good bet.
Only future will tell.
This being said, the total capitalization is less than $ 400,000.
I wonder if this is alot or not?
Truth,
As you see expressing a negative opinion is totally acceptable herein and you may be right. My view however is that Matin was victim of beleiving in an inaccessible dream and is now trying to reassemble the leftover pieces together to see if it can have a life of its own.
Whatever our views, the bottom line is that we own shares worth 3/10 of a penny, we do not know what is realy going on and we have no clue if future there is or not.
You beleive that it was acheived by a crook, I think it was arrived at by incompetence ant irrealism.
One day, the "truth" will be known but till then, for whatever it means, I prefer to remain with my hypothesis.
Mine din't ask for an answer but suggested that coming out with the real story, notwithstanding past promisses and what the thruth is, would be better that hiding.
I know it will not provoque much if anything but I enjoyed doing it.
Just for the fun of it, in the last 5.5 days, this board received as many messages (83 from 12 different writers) as it did in the previous 42 days.