Retired
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
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.
It's the first time I send one to them directly. We shall see but I do not hold my breath.
I just wrote to Matin and ask him to come straith to us with whatever the thru story is. Short of saying that the company is folding for good, anything is better than leaving the market wait for an audit that is probably not in the works anymore.
I still do not hold my breath but sending an e-mail did not cost me anything.
Look forward to hear from your visit and thank "the woman" for me.
Just to see you and your boddy have your nose deep into ..it (and for more intelligent reasons, to be honest) I would love to see something positive coming out of that. It would be so nice just to see your comments then ... assuming you do not go away for good.
I have a lot of respect for those having any opinion, negative or positive, but I hate people knowing nothing and calling woolf just for the fun (???) of it.
What a name you picked ... TRUTH ???
You know what, after having said multiple time that "the only wortwhile release would be a credible audited set of financials", I am getting much less picky. Now I would be satisfied to get any verifyable information to the effect that the company is operating.
What the heck even 1/2 a penny PPS would be an improvement of 67%, even if I have no plan to sell for a llooonnnnggggg time.
Gee!!! You certainly got a kick out of that call. Hope your ankle get rapidly back in shape and that "the woman" accepts to drive you next weekend. Looking forward to your report, coming back.
As I said earlier, I assume the company went thru problems and that, if it doesn't fail, it may be worth the wait. In any case the downside is not that important anymore. If there is any return (???) to life from this (dead) silent outfit, upsides could be interesting, coming from 3/10 of a penny.
Just to fiil time...
To me a scam is something that profits to one by taking money away from many.
with a PPS in the sub-penny for months and no action whatsoever to change that, I do not see where you can see a scam?
On the other hand, you so blinded by your hatred that you cannot see even the obvious... Veltex may very well be a failure but a scam, no way.
Here is what I think (or am I victim of wishfull thinking).
A year ago an inexperience Matin had great ambitions and went at putting back his company in shape. He went wilde, took his dreams for realities and started shootong all over the place (condos, textile, trucking, ...) assuming everything would turn out to be successfull.
Surprise !!! He found crooks on his road, listenned to the wrong people and got himself in trouble in many areas.
The inexperience Matin probably learned something out of it (not everything however) and did try to clean the house as well as he could keeping his mouth shut (giving himself up to 6 months) till he has something certain to talk about... good or bad.
I think that since then, he tries hard to save the house and finds out that it is (again) much more difficult than he tought.
I think that Matin is neigther a crook or a lyar but an inexperienced naive man that suffered multiple setbacks taking us all in his fall (hope he is doing Bungee and will bounce back at some point in time, before he hits the concrete).
The gambling I got into is (my opinion) function of Matin's capacity to learn (listenning) and save whatever can be saved, and definitely not a scam.
Any crook trying to conduct a scam would have the guts to say whatever is needed to at least support his project. What we went thru during the last year doesn't fit such a scenario in my mind.
If I loose everything left (very possible) I think I will have been the victim of trusting someone that did not have the means of his ambitions more than of some dishonest tactics voluntarely planned to screw us all.
The only surprise is that the company (whatever it is) seem to still be alive, its stock is still trading and no one has said the doors were shut.
I unfortunately met lyars, crooks and scammers in the past but the Veltex situation and what it as been during the last year makes no sense to me unless the above scenario is what realy happenned.
Heck only have a few $100 left on the table anyhow. May as well wait and see ...
What I think this is, is that people have some money to play with amd gamble on long shots.
The markets are very good since the beginning of the year, many have made important gains up to now and they can afford to chip in a few dollars on long shots, just in case.
Till the company dares telling us what is going on (or not) VLVT shares will remain toys for day traders and gamblers.
As you know I do not know about VLVT but I know for sure about you and I do not think that what I could say on that topic would pass the censure herein.
Try to get yourself a life ... if that is possible ...
Nice to see that something is going on out there (phones, move, internet site) but would be much nicer if Matin had the decency to tell his shareholders what he is up to.
Very hard to beleive that an audit is and/or was in the works (over 1 year to hold one is impossible) but telling us that times are tough, many things went wrong and something is going on would be better than promissing again things he cannot deliver.
Right now, we are gambling in the blind and any light would be good.
A precise description of what is going on (however bad it may be) would help the PPS, therefore whatever it is the company does that requires infusion of additionnal cash.
I realy wonder what is going thru the mind of these people ???
I have no clue what is going on (if anything) at this company. However I am almost sure Matin (as incompetent we can presume him to be) is not stupid enough to throw away stocks at 2 tenths of a penny not even showing sign of life to help himself.
I do not know who is selling or dumping but not even releasing the fact (if it is) that the company is moving (in all senses of the word) seems totally illogical ... unless the logic calls for securing as low a price of the stock as possible ... for whatever reason.
Two reasons for me to keep the stock:
-It is actually worthless
-May be (long shot) someone (close to or insider) is accumulating in view of making a killing if reliable news of anyking do come within the next months.
Illegal for them to do that. So what? For once I may get something out of a crime!!!
This being said, I certainly do not plan to hold my breath...
"this company sure moves alot....."
As we say her: "If it moves, it's alive"...
If only Matin had the decency to confirm it.
No one seriously beleive that VLVT is a healthy, profitable, growing company but having the exact picture of what it realy is would be much better than this total silence that leads everyone to beleive there is not even life out there.
I would love reading that the company is in trouble, trying hard, has a plan, is not yet conducting an audit but has enough revenues to cover most of its expenses, ...
I have a dream... Matin will shoot straight ... for once.
Then people will know why they go away or stick around...and who know? May be the shares would go up 50% (3.5 cents) to help those wanting to quit do it.
On June 10th (last company release) Matin said he would give us update (whatever the words were) at the earliest within 3 months and the latest "6 months"... at least that's what I recollect.
May be someone can pull the release and post it.
"how could u promote the company?" is a question YOU raised and I quoted.
May be by lying some more ??? is the answer I gave refering to what Matin could try to get more for his shares.
I never said YOU are lying.
Of 3 things one:
-We've been had (high probability)... next
-Matin tried and failed (possibility)
-It will survive and become something justifying a capitalization > $300,000 (who the heck knows?)
"how could u promote the company?"
May be by lying some more ???
Whatever the case, my 250,000 shares are actually worth $550.00 les the commission I would have to pay to get rid of them. Why bother?
December 10th (latest date for Matin to release something (note I didn't use my usual "credible audited financials" expression) and it leaves 20 days to generate an offset if needed.
Not being a trader myself but an investor, I also play the high risk, high potential game with 5% of my portefolio and have fun doing it. I sometime loose (company folding), sometime suffer set backs (companies going away for years and then coming back months or years later) and sometime hit good ones (Companies having great difficulties, running the risk of going under and coming back).
I lost a lot on Consygen, made a lot on NT (Bought 10,000 at 98 cents when people tought it was going under) and have a few good (???) prospects (LYT in Canada or UVCL on OTCCBB as examples).
Buying them is has easy as getting at the blackjack table and selling them (or leaving the table) is the tough part. The advantage of black jack however is that if you (sell) leave the table, you most likely will never know what would have happened had you continued playing. With the stock market, if you sell, you then easyly find out what it would have been staying in.
However, as I think you say in english: "Better a bird in the hand than in the bish"... or something like that.
For the moment, VLVT is not an issue not being worth much more than the commission it would take to get rid of it. But if (God permitting) it goes to 2, 5 , 10 or more cents, selling will become quite a problematic decision for most of us (Gee I would like to have the problem). On the other hand, only Matin and God seem to know if such a problem will ever confront us...
Why would I call you dumb?
Gambling $300 on a llooonnnngggg shot has never ruined anyone that I know.
After all we have a thousand reasons to "beleive" that this is a failure (a scam would be managed very differently)but, to be honest, none of us in here "knows" for sure.
Dumb were those keeping stocks in Yahoo, NT, AOL and thousand others in the $100 levels when they were loosing money.
Riding the bubble was dumb...
Best of luck ... very selfishly!!!
Over 1,250,000 share were dumped at 1/4 of a penny within 6 minutes just before 3.
If the company issued thes, they got just over $3000 for them.
If this thing is not a dead horse it's certainly in a deep coma.
Notwithstanding the fact that we are 1,5 month away from Matin's deadline it takes a lot of faith to beleive that audited financials are in the works almost ready to be released ???????
In any case these "lottery tickets" are the cheapeast one I ever owned.
Note: up to now I was refering to "roulette" (37 to 1 odds) but I decided to now call it "lottery" (our local one offers odds of 1 in 13,260,000).
In any case I own 250,000 tickets ... just in case...
I think that the only "stock promoter" Martin has available is releasing credible audited financials.
Otherwise he will have to dump these 77 million shares at current price for a great proceed of 1/4 of a million dollars.
Who knows what is going on out there?????????
4.5 months without a sign of life from the company.
To my recollection, following June 10th release, someone reported herein that V.Duff was unhappy to see Matin come out regularly with promisses he could not fill and mentionned her recommendation to Matin to shut up till he has something worthwhile to report.
It certainly look as if Matin finally listenned and that he decided not to come out till he has something worth releasing. In my mind the only thing he can release in this context is a set of credibly audited financials.
Notwithstanding all the valid reasons to beleive this to be a scam, it is also difficult to beleive that someone would accept to run a scam and do nothing to improve the value of the shares he wants to issue, wit a market offering only 3 or 4 tenths of a penny for them ???
Mindbogling ??? but I certainly will not get away from the table at this price.
It must be nice to "know for sure" one way or the other. You must be very close to Matin to "know".
Most of us in here are honest enough to admit they have doubts, even very serious doubts, to recognize that VLVT is a gamble and that it is very easy to build a justification supporting that this is not serious. Unless you "know" otherwise, there could also be some logical reasons, granted not necessarely likely, to beleive that may be Matin holds stocks, would like to get at least a few pennies for them and who knows even ressucitate a company that everyone took for gone for ever, a year or so ago.
You (it's a scam) and your counterparts (this will be producing a great return) do know as much as anyone in here, i.e. "nothing" and I assume we will not know till we know.
Why do you (or those very few having blind faith) feel you can be so affirmative one way or the other. Sell or buy, depending on what gang you are with, and have a life.
Personally, why should I care selling shares at 1/3 of a penny (before commission)?
Do you realy care about your unsupported free statement?
"It would be nice to find out the company is growing or expanding."
It would be nice to find out anything about this company. Even a release saying we exist and are operating would be welcome.
But, Matin has up to Dec 10th to demonstrate he can follow trhu on one commitment or repeat his past behavior of not delivering as promissed.
Patience is required (as if being here wasn't the proof that we are patience) and hope is all we can do.
Pretty quiet in here but with the company (???) hiding and staying totally silent not much to discuss.
I wonder if they are or not still operating???
If that bet doesn't turn out to be a net loss, I certainly won't be able to say that I knew...
If it turns out to be anything but a loss, I will have to admit that luck was with me but had no logical reasons (why an "s"?) to hope ...
V.Duff earlier said she recommended Matin not to release anything till he had something worth being released.
I wonder if she told him to shutup or shot him dead?
If that is a scam, it's the most ridiculous one I ever encountered.
If it's not, it's the best kept secret in the world.
O.K. let's turn to more interesting stocks and good week to those still reading this board.
However a full year to audit a small business with an interim release (by error) of a presumably quite complete audit reports, calls for a lot of faith for anyone thinking he INVESTED in an operating company...
If we ever get a serious audit (presumably between now and Dec. 10, 2003) and the result is anything better than very bad, we (holders of shares) will hit a jackpot following a real long shot bet.
Every week, we have people hitting the jackpot in our local lottery. It sometimes happen. No one however should bet the food and rent money in such affairs...
You may very well be right...on the other hand...May be not...
However if past means something, BS may very well be a very appropriate qualifier here ???
Very smart move. Personally, I will finish paying my morgage at renewal time next February 1st. Nothing like having money in concrete these days as a safe heaven for rainy days...
I have no specific worry related to specific months of the year but am very nervous when financial results are around the corner right after the markets went thru the roof. Somehow, even good results often generate dumping of shares right after they have been issued. Having some cash on hand at that time is not a bad thing.
As for Veltex, Matin only has 45 trading days or so to deliver within the horizon he defined last June 10th. Based on past experience this is not very reassuring but who knows? I sometime had the roulette stop on my number after it didn't multiple times! Gambling spare money is fun but you have to be prepare to loose it or stay away from the table.
The next question is how much do you want to bet...if any? In our case you can get 20,000 (shares) chips for $100.
Let's enjoy the GAME !!!
I agree with most of your answer but I personally would prefer it to be a reverse scam, than a scam, the first leading to profits for those holding shares when time comes. This being said, I do not hold my breath.
As for the rest of the markets, I recently gradually moved 30% of my portefolio to more secure investments and got to a 20% cash position as of today. Great recent gains would allow me to increase my speculative bets but I prefer to wait before I jump again with the 1% or so of available funds for speculative situations.
The markets and my investments have been extremely positive year to date but I also think that the general environment is a little to wild not to say irrealistic in many cases. I prefer to wait and see.
Till then, having a few little toys to follow, helps making the wait more fun, even more with our pretty healthy message board. Thanks for keeping it clean.
I very much doubt that anyone will ever bother investigating this situation, whatever happen in the future.
Whoever presumably would have to manipulate this stock, one way or the other, they were not influencing the market whatsoever, the price staying below 1 penny for months.
Assuming for a minute that Velyex is, as per the beleif of some, a scam, it has been a miserable failure and profitted no one seriously.
This is a pink stock issued by a non-reporting company and purchased by gamblers trying to make a quick profit (???) and anyone that would get burned and wanted to complain that they were misinformed thru message on an anonymous message board, would get the attention of no one, never mind any regulator.
On the otherhand, if this stock ended up going thru the roof, after insiders would have somehow accumulated millions of shares, who would complain and what result could he expect from his complaint?
Let's be serious, with everything that is going on in serious financial scandals nowadays, who beleive a Veltex type of situation would attract any attention from anyone? Seriously.
Let's enjoy the ride, hope there is a business operating behind the scene and wish that it doesn't end up as a total failure. Otherwise, let's (leave the table)sell whatever stock we have and put whatever is left in whatever we are interested in that costs only a few hundred dollars.
Unless this is what I call a reversed scam, I beleive that Veltex is a company managed by someone trying hard but not yet having the skills required to succeed. The only question should then be, can he survive long enough to learn and succeed somewhat, sometime or will he fail and have to fold?
Whatever the case, we will have plenty of "I told you" messages to read and that will be it.
Enjoy.