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Final Post
This will be my final post for the foreseeable future. In the past I have been nothing more than an individual investor, but that has now changed. I have been asked to act as a part-time consultant to Veltex Corporation by Javeed Matin. I will offer suggestions regarding the content of Press Releases and other matters relative to investor relations. I will do this with the existing staff whom I hold in very high regard. They have demonstrated a willingness to accept ideas with grace, patience and style. This relationship may result in my being privy to what is considered insider information, and as such, I will not continue to post on any message board discussing Veltex.
Mr. Matin has been quite gracious in answering my questions and taking my (2) phone calls. During our last conversation I asked how I could help him in insuring that Veltex is seen in a more professional and credible light throughout the investment community. It is my aim that anyone who reads a Veltex Press Release will, one-day, be able to verify what is stated therein through their own due diligence. I do not expect this to happen overnight.
I cannot offer you any advice except to say that you should believe only what you come to learn on your own.
I would like to thank Robert (Imakemoney) for the honor of making me his assistant. I have removed only one post during my tenure and that was the "finger" post from pual (who most consider a co-conspirator of mine). I considered it to be a TOS violation.
Good luck to you all and thank you for allowing me to participate in your discussions.
Scott
Sorry Hap. I thought it was a typo and I was having a little fun at your expense. I meant it in a good natured way.
KIROM???
Are you Matin's secretary?
Maybe you're Matin?
Simliar syntax.
Unifin.
I don't think I said I had proof. I believe I said "I know".
I sincerely hope that the matter is cleared up in the '04 audit. If it is not then I may lose faith.
Nice price recovery.
Last post for me. Nite.
As information a Maroon is:
ma·roon1 ( P ) Pronunciation Key (m-rn)
tr.v. ma·rooned, ma·roon·ing, ma·roons
To put ashore on a deserted island or coast and intentionally abandon.
To abandon or isolate with little hope of ready rescue or escape: The travelers were marooned by the blizzard.
n.
often Maroon
A fugitive Black slave in the West Indies in the 17th and 18th centuries.
A descendant of such a slave.
A person who is marooned, as on an island.
--------------------------------------------------------------------------------
[From French marron, fugitive slave, from American Spanish cimarrón, wild, runaway, perhaps from cima, summit (from runaways' fleeing to the mountains), from Latin cma, sprout. See cyma.]
Just to keep the record straight.
Raw, et al.
I am running out of posts for today.
Would a professional Pump and Dump hypster have a free subscription?
I suppose that the only right thing to do is to appologize to Rawnoc because I did cast doubt on his post which turned out to be true. Now I'll tell you why.
1- He started to day off by saying he was dumping.
2- He decided to make all the VLXC references in bold type and, I knew a release wouldn't do that.
3- None of the links provided worked for me.
Sure I doubted you.
I would suggest that if anyone of us posts a link in the future we "preview" the message and try the link ourselves to see if it works.
Regardless of whatever anyone claims I have never been paid a dime by Matin or anyone at Veltex. I have spoken to him on two occasions and we have exchanged dozens of e-mails.
I am not at all happy about this fax thing. It is certainly not a good thing.
Anyone have a copy of the fax?
As far as I am concerned you are nothing but a snake.
None of your links lead to the article. I tried them all.
I am finished with you.
I will tell everyone here that I know absolutely nothing about any scheme.
I do remember a news release quite a while ago about Veltex signing on with some outfit that issues alerts about companies via pagers. Maybe this is the same thing? I don't know, but I'll look into it.
I simply don't care for your style and because of that I do not trust you. I believe that you had this article and sold before posting it. Nothing wrong with that as it was to your advantage, but it speaks volumes about your character. Yoou could have sold and walked away, but you just couldn't miss the opportunity to rub everyones nose it it.
I have constantly reminded everyone to verify everything. All you had to do was post the link and we all would have had the ability to verify the article, but that's not your style.
Answer your question?
Does this mean you're gone for good?
I hope.
I just found it myself.
http://www.investrend.com/articles/article.asp?analystId=0&id=14575&topicId=160&level=16...
I have nothing to appologize for. I always insist on proof of anything posted.
In answer to your question about you making things up.
Yes, I sure do think you would do something like that.
Sure. How about a link. We justy fell off the turnip truck!
Can anyone find this article Raw claims he is posting?
I can't do it, but I'll keep trying.
Verify anything this guy writes.
He's got you running scared. Don't be suckers.
Anyone find it odd that as soon as Raw dunmps he posts questionable reports about Veltex?
Who is running a scam here?
Well, we know he recently bought shares so I expect it would be in his interest if the stock price were to rise.
I love this "soft pumping" stuff. Anyone have a defination?
I can't seem to find it in any traders glossary.
Note to King: Whatever you sent me in a PM was deleted before I read it.
Probably because you're not smoking the same thing as him. LOL
Gotta call you on this one raw.
"Fascinating. Looks like from that blurb that money can in fact come back.
The dilution could simply be (yeah right) all the ramp up of production. As a small business owner myself, I can attest that while a fat cash real profit hits the bottom line, any growth eats that up fast in the form of inventory. Example - if there's $10 mil in sales and $3 mil in profits then $20 mil in sales are expected, an extra $10 mil in inventory may be needed on hand at all times (not counting extra money for employee salaries, etc.).
Your profile says you are a full time day trader.
What is the truth! Fess up!
Way to make a gal feel good!
Do you steal lollipops from babies too?
I'd hit you with a KMART desk if'n I could find me one of thems out in the back 4orty.
Raw.
If you can make your way down (up) to Veltex during the week I'm betting you'll see a good amount of use being put to those KMART chairs.
Perhaps we can set up an informal tour for you if you are willing.
Some good arguments on the funds issue. We should all do our best to look into the matter.
If I have a car, but still owe GMAC do I own it?
If the car was in Bangladesh and I used it as a taxi and made a profit with it could I take the money out of the country?
I think we really need an attorney who specializes in this to tell us what is true and what is not. I'll see what I can do in that area.
Botom line though, from what we have seen the past couple of days Veltex Apparel is selling product. Revenue is there and I believe that bigger and better deals are on the horizon. Surely some of the revenue generated by these sales will be profit to Veltex Apparel. All of the goods sold by the US component are not manufactured by the mill. Many come from China and Pakistan.
This board is getting into real issues and that is great.
Later. I am also informed that Carpet shopping has just become my designated priority.
I am informed that in order to remove funds from Bangladesh one must receive permission from the government. I understand that this is the case in most 3rd world countries.
I do not see the concern in this regard. If Veltex owns the mill and the mill makes money why is it important that the money come to the US? Cannot the money be used to expand the mill or develop additional manufacturing capability?
No comments on the volume?
I know, you are all breaking into your children's piggy banks so you can get in before the run?
No?
Sorry.
Heaven forbid that I should tell a fib. If I am sent to jail do I get protective custody due to my LEO status?
Next time there is a happy hour...
george.
I can tell you that the audit is being done, but it will not be out this month. I know when it is expected, but I have learned not to count on what the auditor says as regards timing.
Veltex owns the mill. I am certain of this fact. You will see a change in the auditors statement in the 2004 document that will clear up the misunderstanding that was a result of the "absolute control" statement in the '03 audit.
Just a though or two here.
I wouldn't expect to see a sales PR every day. Besides being somewhat expensive there just aren't that many large orders out there to justify an announcement. The majority of orders are in lesser quantities, but of greater frequency.
As regards the audit: I am told that it is in the hands of the auditor and is out of the control of the company. Veltex is not their largest client and as such cannot demand that their project be done ahead of others. It will be done, but don't hold your breath.
The sales pipeline is growing and that is my focus for now. I try to remember that any audit is historical and growth is futuristic.
Lots of volume today. No doubt our % increase yesterday has lite up a few traders screens.
So you are saying that Cal is a contra indicator?
4000 distribitors in Canada that are potential customers for Veltex. Fact. Not hype.
Thoughts on the trade show.
I was one of us who cast doubt on the validity of the numbers being bandied about after the trade shows. I compared the company's statements to my factious garage sale and another poster with a better sense of humor compared it to his visiting a girl’s school implying that by his mere presents all of the girls wanted to sleep with him.
I have since learned that I was completely mistaken.
The figures we see come from the number of distributors (the people who order Veltex' line) who visit the company booth and indicated their interest by leaving a business card.
After the show Veltex representatives contact these distributors and solicit orders.
We can see that the analogy to the girl's school, while funny, isn't accurate. Now, if all the girls left you their phone number it would be a different story.
I believe the recent large volume of shares went to KCA Garment. KCA contributes approximately 20 million a year in revenue to Veltex Corp. That is why they received the shares.
Yes. PS Company employees must submit SEC documents for Buys and sells.
Whatever you call it I am talking about the stock that has been authorized, but not yet issued.
When I buy shares from a company through a direct purchase plan I get those shares directly from the company in most instances. There are provisions in the plan for them to buy those shares on the open market if there are none available.
There is no point to this argument. I have discussed this with Matin and I can assure you that he has no intention of buying any open market shares.
I said buy on the OPEN MARKET. What part of that do you not understand? Of course they should be buying shares, but they should buy them from the company treasury.
BTW Next time you call anyone any kind of a name I will remove your post. If you don't like it you can go play elsewhere.
Now if Veltex really wants to strike it rich with this Canadian connection they have to start making those things you put around your beer cans. Eh?
Hap. You obviously do not understanding beneficial financing. What Mel Karmazin did was quite rare. He did that before he became an insider because it would have been quite restrictive to do so afterward.
I am not a appologist for anyone. Management buying on the open market would be just plan dumb in this instance.
You are simply a clever basher using some of the oldest tricks in the book to support your point of view regardless of the validity of your position. Asking for what you know is not going to happen is one of those tricks. Try harder.
It is a very involved process for insiders to buy stock on the open market. Lots of SEC regs to comply with. What is of more value and benefit to the company if for insiders to provide an equity financing. They can lend the company cash in exchange for a promise of payment at a certain rate of interest or, in lieu thereof, a number of shares at a specific price. I have done this with another company I am involved in and I can say that there is usually a discount involved that makes the financing more attractive. This also serves to motivate the insider.
Surely Matin knew about the pending deal with SunShirts and he had knowledge of the Canadian operation before the announcements were made. Had he bought shares on the open market he would have violated insider trading laws because that information had not yet been made public.
Buying shares on the open market serves one primary purpose and that is to demonstarte managments confidence in the stock. I would love to see it as it would surely move the stock, but it does not benefit the company in any other way.
Uneasy lies the head that wears a crown.
I hope you gave the lad a stern talking to.
Question for King.
Was it really necessary to include that last line?
All that accomplishes is a reason for the adressee to respond in kind. We have enough people calling each other idiots already.
Hear me Raw?
I think you stepped in it this time tex. Better get out your flameproof underwear.
Sam:
I will try to get as many answers as I can.
Unfortunately, even if I succeed, I fear that it is much too late for sainthood, but thanks for the good thought.