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I called Veltex only to received a recorded message.They are not answering the phone.I dailed each extension even made up some in hope someone would pick up the phone.How can anyone operate a business and refuse to answer the phone. Could it be they are hiding from shareholders?
News Veltex seeking to acquire firm
Veltex Attending Key Apparels Show in Las Vegas
8/27/2004 9:21:00 AM
CITY OF INDUSTRY, Calif., Aug 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (VLVT), a vertical manufacturing, import and distribution company in the apparel industry that is headquartered with sales and marketing offices in City of Industry, Calif., and with its factories in Bangladesh, announced today that it is attending the prestigious MAGIC Show in Las Vegas this week.
"This is one of the largest apparel trade shows in the country," said Javeed Matin, Chairman, CEO and Founder of Veltex. "Buyers and wholesalers in the apparel and promotional industry and others can find us at our booth. We will be delighted to talk to them, one on one, about the quality, cost effectiveness of our products and our ability to deliver orders on time."
Mr. Matin also said the Company is seeking to acquire firms with a potential for significant, sustained, long term growth and has identified some candidates. "We believe the new distribution company we are establishing in the apparel industry has the potential to grow to $10 million in new revenues for Veltex in the first year," Mr. Matin said.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
http://www.veltexcorp.com
http://www.veltexapparel.com
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
SOURCE Veltex Corporation
Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Veltex Corporation
http://www.veltexcorp.com
Veltex Attending Key Apparels Show in Las Vegas
8/27/2004 9:21:00 AM
CITY OF INDUSTRY, Calif., Aug 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (VLVT), a vertical manufacturing, import and distribution company in the apparel industry that is headquartered with sales and marketing offices in City of Industry, Calif., and with its factories in Bangladesh, announced today that it is attending the prestigious MAGIC Show in Las Vegas this week.
"This is one of the largest apparel trade shows in the country," said Javeed Matin, Chairman, CEO and Founder of Veltex. "Buyers and wholesalers in the apparel and promotional industry and others can find us at our booth. We will be delighted to talk to them, one on one, about the quality, cost effectiveness of our products and our ability to deliver orders on time."
Mr. Matin also said the Company is seeking to acquire firms with a potential for significant, sustained, long term growth and has identified some candidates. "We believe the new distribution company we are establishing in the apparel industry has the potential to grow to $10 million in new revenues for Veltex in the first year," Mr. Matin said.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
http://www.veltexcorp.com
http://www.veltexapparel.com
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
SOURCE Veltex Corporation
Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Veltex Corporation
http://www.veltexcorp.com
Veltex Attending Key Apparels Show in Las Vegas
8/27/2004 9:21:00 AM
CITY OF INDUSTRY, Calif., Aug 27, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (VLVT), a vertical manufacturing, import and distribution company in the apparel industry that is headquartered with sales and marketing offices in City of Industry, Calif., and with its factories in Bangladesh, announced today that it is attending the prestigious MAGIC Show in Las Vegas this week.
"This is one of the largest apparel trade shows in the country," said Javeed Matin, Chairman, CEO and Founder of Veltex. "Buyers and wholesalers in the apparel and promotional industry and others can find us at our booth. We will be delighted to talk to them, one on one, about the quality, cost effectiveness of our products and our ability to deliver orders on time."
Mr. Matin also said the Company is seeking to acquire firms with a potential for significant, sustained, long term growth and has identified some candidates. "We believe the new distribution company we are establishing in the apparel industry has the potential to grow to $10 million in new revenues for Veltex in the first year," Mr. Matin said.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
http://www.veltexcorp.com
http://www.veltexapparel.com
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
SOURCE Veltex Corporation
Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Veltex Corporation
http://www.veltexcorp.com
Veltex Launches First New Catalog
MONDAY, AUGUST 16, 2004 7:02 AM
- PR Newswire
VLVT
0.009 +0.001
Enter Symbol:
Enter Keyword:
CITY OF INDUSTRY, Calif., Aug 16, 2004 /PRNewswire via COMTEX/ -- Veltex Corporation (VLVT) , a vertical manufacturing, import and distribution company in the apparel industry that is headquartered with sales and marketing offices in City of Industry, Calif., and with its factories in Bangladesh, announced today that it has completed a new, 26-page catalog featuring the Company's products.
"We will be sending 30,000 copies of our catalog to key buyers and decision makers," said Javeed Matin, Chairman, CEO and Founder of Veltex. "This is a first for our Company and we have great expectations for this catalog."
Mr. Matin also said the Company will attend the prestigious California Gift Show this week in Las Vegas, while last week it attended the National Business Media's trade show in Long Beach, California. "This continues our efforts to meet the buyers, one on one, and this strategy has proven to be very effective," Mr. Matin said.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
http://www.veltexcorp.com
http://www.veltexapparel.com
Safe Harbor: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reforms Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, volatility of market prices, product demand, market competition, risks inherent in the Company's international operations, and the Company's ability to replace and expand.
SOURCE Veltex Corporation
Paul Knopick of E & E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Veltex Corporation
http://www.veltexcorp.com
Copyright (C) 2004 PR Newswire. All rights reserved.
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Joelawyer,
Thanks for the information.I believe Mr.Matin to be a honest person working hard to make Veltex a success.
CITY OF INDUSTRY, Calif., July 13 /PRNewswire-FirstCall/ -- Veltex
Corporation (OTC: VLVT), a vertical manufacturing, import and distribution
company in the apparel industry that is headquartered with sales and marketing
offices in City of Industry, Calif., with factories in Bangladesh, announced
today that net sales in the first quarter of 2004 totaled $10.9 million. Net
income in the first quarter totaled $857,306.
"We are very encouraged by these profitable results and continue to
project that total sales in 2004 will exceed $25 million," said Javeed Matin,
Chairman and CEO. Veltex sales in 2003 totaled $19.99 million, Company sales
in 2002 totaled $13.9 million, and sales in 2001 were $8.7 million.
Veltex' net income in 2003 was $1.528 million, in 2002 totaled
$1.65 million and was $1.3 million in 2001. "Sales have grown from
$5.5 million in 1999 to almost $20 million in 2003 under current management,"
Mr. Matin said.
Veltex Corporation is a vertical manufacturing, import and distribution
company composed of three divisions: Veltex Apparel, specializing in caps,
apparel and apparel accessories for the Promotional Products Industry; Velvet
Textile Mills, specializing in the manufacture of high quality fabrics
including velvets, 100% cotton twill, denim, sheeting for consumer and
industrial products; and KCA Garment Industries, specializing in the
manufacture of garments.
http://www.veltexcorporation.com
http://www.veltexapparel.com
Safe Harbor: Except for historical information contained herein, the
statements in this Press Release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and unknown
risks and uncertainties which may cause the Company's actual results in future
periods to differ materially from forecasted results. These risks and
uncertainties include, among other things, volatility of market prices,
product demand, market competition, risks inherent in the Company's
international operations, and the Company's ability to replace and expand.
Paul Knopick
E & E Communications
(949) 707-5365
pknopick@eandecommunications.com
Veltex Announces Record Sales in 2003
5/19/2004 8:00:00 AM
CITY OF INDUSTRY, Calif., May 19, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (VLVT) , a vertical manufacturing, import and distribution company in the apparel industry that is headquartered with sales and marketing offices in City of Industry, Calif., with factories in Bangladesh, announced today that sales in 2003 totaled $19.99 million. Net income for 2003 totaled $1.528 million, or approximately $0.01 per share (169,531,946 shares outstanding).
"We are very encouraged by the continued annual increase in sales and the positive net income," said Javeed Matin, Chairman and CEO. "Our projection for sales had been $17 million and we are pleased that we exceeded that total."
Company sales in 2002 totaled $13.9 million and sales in 2001 were $8.7 million. Veltex' net income in 2002 was $1.65 million and $1.3 million in 2001. "Sales have grown from $5.5 million in 1999 to more than $19 million in 2003 under current management," Mr. Matin said. The Company has projected that 2004 sales will exceed $25 million.
Veltex Corporation is a vertical manufacturing, import and distribution company composed of three divisions: Veltex Apparel, specializing in caps, apparel and apparel accessories for the Promotional Products Industry; Velvet Textile Mills, specializing in the manufacture of high quality fabrics including velvets, 100% cotton twill, denim, sheeting for consumer and industrial products; and KCA Garment Industries, specializing in the manufacture of garments.
http://www.veltexcorp.com
http://www.veltexapparel.com
Safe Harbor: Except for historical information contained herein, the statements in this Press
Do you have any fear of God? Your type of post make others feel sinful just from reading them.I try not to open a post that I feel may contain corrupt talk.Esphesians4:29 Let no corrupt communication preceed out of your mouth,but that which is good to the use of edifying that it may minister grace unto the hearers.
I hope a class action suit is filed against Ucap considering investors purchased shares of Ucap based on lies released by the company.
I believe shareholders were lied to about Ucap.I purchased this stock because of glowing press releases from Ucap.We as investors were told on May 14,2003 that Ucap was a stronge and powerful company by Farmer. The following SEC filing reveals Ucap was close to filing for bankruptcy.SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 26, 2003
(November 24, 2003)
UCAP Incorporated
Colorado 0-27480 84-1325695
-------- ------- ----------
(State or other jurisdiction (Commission File ID No.) (IRS Employer No.)
of incorporation)
Suite 700, 14001 E. Iliff Avenue
Denver, CO 80014
(Address of principal executive offices)
(303) 696-1700
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Item 2. Change in Control of Registrant
Pursuant to a Securities Purchase Agreement dated as of November 24, 2003 (the "Purchase Agreement"), the Company issued Two Hundred Ten Million (210,000,000) shares of its common stock to three (3) purchasers (the "Purchasers") in exchange for an aggregate consideration of Two Million One Hundred Thousand Dollars ($2,100,000) or at $0.01 per share. Under the terms of the Purchase Agreement, the Purchasers have the option to purchase up to Three Hundred Million (300,000,000) additional shares of its common stock for Three Million Dollars ($3,000,000), or at $0.01 per share, in increments of One Hundred Million (100,000,000) shares at each of the 60, 90 and 120 day anniversaries of the initial closing date.
As a result of the issuance of the shares of common stock pursuant to the Purchase Agreement, a change in control of the Company has occurred. After the closing, the Purchasers owned 210,000,000 shares of the Company's common stock or approximately 82.5% of the Company's common stock, with (i) The Loyr Foundation owning 100,000,000 shares of common stock, or approximately 40.5% ,
(ii) Europe Catalyst Fund owning 40,000,000 shares of common stock, or approximately 16.2%, and (iii) Absolute Return Europe Fund, Ltd. owning 70,000,000 shares of common stock, or approximately 28.4%. If the Purchasers exercise all of their options under the Purchase Agreement, the Purchasers will own 510,000,000 shares of the common stock of the Company, or approximately 93.3%.
--------------------------------------------------------------------------------
In connection with the Securities Purchase Agreement, the Company also entered into a Registration Rights Agreement with the Purchasers, which grants the Purchasers one (1) demand registration per year, demand registration on Form S-3 (when available) so long as the aggregate offering price is $500,000 and piggyback registration rights.
In addition, Colleen Brewer, the Chief Operating Officer of UCMC, has been elected to the Board of Directors of the Company.
The Board of Directors of the Company determined that the terms of the Securities Purchase Agreement and Registration Rights Agreement were in the best interest of the Company because the Company's wholly-owned subsidiary, United Capital Mortgage Corporation ("UCMC"), immediately required additional capital in order to maintain its existing Warehouse Line of Credit with Residential Funding Corporation (the "Line of Credit"), and a failure to obtain such capital would have caused the termination of the Line of Credit, which would have resulted in the cessation of UCMC's operations, and because the Company needed additional capital for existing corporate payables and general working capital. In reaching its decision, the Board considered the fact that the Purchasers had agreed to release $100,000 to the Corporation for the payment of salaries, rent utilities and other operating expenses of the Company prior to the closing of the Purchase Agreement, and the fact that it was unlikely that the one other alternative financing that that presented itself could be completed on a timely basis. The Board also concluded that filing for protection under Chapter 11 of the United States Bankruptcy Code was unlikely to result in a greater value to the Company's shareholders than a capital infusion under the terms and conditions of the Purchase Agreement.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
2.1 Securities Purchase Agreement dated November 24, 2003.
10.1 Registration Rights Agreement dated November 24, 2003.
2
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
UCAP Incorporated
(Registrant)
Dated: November 26, 2003 By: /s/ Dan Moudy
----------------------------------
Dan Moudy, Chief Executive Officer
3
--------------------------------------------------------------------------------
UCAP Incorporated
Colorado 0-27480 84-1325695
(State or other (Commission File ID No.) (IRS Employer No.)
jurisdiction of
incorporation)
Suite 700, 14001 E. Iliff Avenue
Denver, CO 80014
(Address of principal executive offices)
(303) 696-1700
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Item 5. Other Events
Under the terms of a Settlement and Mutual Release Agreement dated November 6, 2003, William D. McCord, a former majority shareholder of United Capital Mortgage Corporation ("UCMC"), a wholly owned subsidiary of the Company, agreed to terminate and release the Company from its pledge to him of all of the issued and outstanding shares of capital stock of UCMC. As previously reported in the Company's amended annual report on Form 10-KSB/A for the year ended September 30, 2002, filed with the Securities and Exchange Commission on January 29, 2003, the Company had pledged all of the issued and outstanding shares of capital stock of UCMC to Mr. McCord.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
None
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized.
UCAP Incorporated
(Registrant)
Dated: November 17, 2003 By: /s/ Dan Moudy
----------------------------------
Dan Moudy, Chief Executive Officer
I agree builders are building and selling houses at a record rate.This was reported on CNBC earlier this week. I know who I believe.
1-800-307-7603 is the correct number
I did not receive a call back for the person that told me he would call back after he had more information. I am sorry I did not get the man's name. He was in such a rush to get off the phone. Maybe because he couldn't answer my most important question, which was is Ucap a stronge and powerful company as Mr. Farmer said in a press release.The number I called was 1-800-307-7602.Maybe someone will call since the call is free, hopefully they can get some information or a call back.
Just spoke with a lady at Veltex. She told me the company was moving because they needed more space. A company folding does not need more space.I believe she said at the present they only have one room. Also Veltex has not owned 40 trucks for sometime,some were sold.She also told me she was working hard for the company. I told her I had a lot invested in the company , she said that was good which I took to mean all is well with the company.
I decided to purchase 50,000 more shares of Veltex this morning after reading your post.I continue to believe the company is doing fine as I was told on September 5,2003 in an e-mail.
After reading your post, I decided to purchase more shares of Veltex so I purchased 50,000 more shares this morning.
I am sorry I do not know the name of the person that called me back.I will let you know when he calls back.
I Called Ucap today, just received a call back the person I spoke with could not answer my questions. He is to call back in a couple of days with some answers.I ask if Ucap was a stronge and powerful company as Mr. Farmer said in the press release on May 4,2003,also if the company's pass audits were correct.
Information Ucap filed with SEC,read my post before this one.The only good news if it is good news is that McAdams,who served on the audit committee is still with the company.Hopely that means last quarter's earnings report can be believe and this company does have shareholders value.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 17, 2003
UCAP Incorporated
Colorado 0-27480 84-1325695
---------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File ID No.) (IRS Employer No.)
of incorporation)
Suite 700, 14001 E. Iliff Avenue
Denver, CO 80014
(Address of principal executive offices)
(303) 696-1700
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Item 5. Other Events
On October 15, 2003, The Company failed to timely file its Transition
Report on Form 10-KSB for the year ended June 30, 2003, and the Company is
currently unable to estimate when its 10-KSB will be filed. As previously
disclosed, the Company recently engaged Richey, May & Co. ("RMC") as its
independent auditors to perform the audit of the Company's financial statements
for the nine-month transition period ended June 30, 2003. In the process of
performing their audit work, RMC has determined that additional working paper
verification and involvement of the prior auditors will be required due to the
transition and change in year end.
Management believes that the earnings guidance previously furnished by
the Company will not be met as a result of certain events, including but not
limited to, the appointment of a Receiver from March 2003 through May 2003, as
previously reported by the Company in current reports on Form 8-K, filed with
the Securities and Exchange Commission on March 13, 2003 and May 2, 2003, and a
general economic downturn in the mortgage banking industry.
<PAGE>
The Company's Board of Directors has appointed Dan Moudy as the interim
Chief Executive Officer and Lynn Bradley as the interim Chief Financial Officer,
both who have previously served in such positions with the Company, to replace
Jim Farmer and Keith Miller, respectively, who were terminated by the Board of
Directors on October 15, 2003. The Board of Directors has not determined whether
to seek new candidates to replace the interim CEO and CFO or to appoint the
interim CEO and CFO on a non-interim basis.
Three members of the Board of Directors of the Company, Robert E.
Altenbach, Lee Hastings and Joseph McAdams, have resigned from the Board during
the last ninety days. In addition, Jim Farmer was removed from the Board of
Directors on October 15, 2003. Only Mr. McAdams, who served on the Audit
Committee, served as a member of any of the Committees of the Board. To date,
the Company has not replaced any of the directors who have resigned, and is
currently seeking candidates for the Board of Directors and the Audit Committee
to replace the members that have resigned.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
I purchased more shares of Veltex Friday.I believe as I was told in the e-mail from the company Veltex is doing fine,and they are working hard to increase shareholders value.
I received an e-mail from the company yesterday.The
information in my last post was word for word in the e-mail.The only information I did not include was who the e-mail was from because of those that speak so evil of others. I believe the information I received because it was from the company. I may even purchase some more stock Monday. I will copy and paste the body of the e-mail Sky-King if you would like me to.
I would like to share some good news with all Veltex shareholders. Those that would like to see Veltex prosper and grow as I would."Audit should be done shortly. Company is still doing fine. We are working hard to increase the shareholder value."Great news from Veltex.
I hope for the success of Veltex.Hopely we will receive some good news before the month is over.I for one would not do anything to destroy the company or shareholders value.
I read ucap last filing with the SEC on Sept.3,2003.I e-mail the company yesterday and asked if the 10-KSB will be filed on or before Sept.29,2003.If I do not receive a response I will e-mail again.Slow feet if you read the filing will you share your thoughts.
NOT a recommendation but a stock to watch. MONDAY, FEBRUARY 24, 2003 12:10 PM
- PR Newswire
UCAP forecast 90%+ increase in Revenue for Calender 2003
DENVER, Feb 24, 2003 /PRNewswire-FirstCall via COMTEX/ -- UCAP, Inc. (OTC Bulletin Board: UCAP), a leading national mortgage lender committed to setting the next generation standard in mortgage banking, announced its guidance today for calendar 2003, representing Q2 and Q3 of Fiscal 2003 ending June 30, 2003 and Q1 and Q2 of Fiscal 2004 ending December 31, 2003. The Company's Board of Directors recently voted to change the Company's fiscal year end to June 30, thereby creating a stub period. The announcement was made by Dan Moudy, UCAP Chairman and CEO.
The guidance being issued has been iterated on a quarterly basis by Loan Originations, Revenues, Pretax Income, Net Income and EPS.
Q2 Q3 Q1 Q2
Mar. 31, June 30, Sept. 30, Dec. 31, Total
'03 '03 '03 '03
Originations $400 mm $653 mm $811 mm $807 mm $2.67 b
Revenues $6.5 mm $10.4 mm $13.8 mm $14.6 mm $45.2 mm
Pretax Income $.384 mm $2.2 mm $3.5 mm $4.2 mm $10.3 mm
Net Income $.238 mm $1.4 mm $2.2 mm $2.6 mm $6.4 mm
EPS (fully
diluted) $0.01 $0.04 $0.06 $0.07 $0.18
Mr. Moudy noted, "Our significant quarterly revenue increases are almost exclusively the result of organic growth. While many other companies have been impacted by the slowing economy, our business and growth continues unabated with UCAP forecasting a remarkable 90% increase in revenues and an EPS of $0.18 versus a loss of $0.11 for the comparable period. We believe that our future results will continue to reflect the strength in our underlying business and our unwavering commitment to growth in both the top line and bottom line."
About UCAP
Thanks for responding ,I continue to read the Feb.24,2003 press release and hoping for the best. Not sure if I should pick up more shares before or after the earnings report has been released. Seems the insiders are buying and not selling. UCAP Forecasts 90%+ Increase in Revenues for Calendar 2003
MONDAY, FEBRUARY 24, 2003 12:10 PM
- PR Newswire
DENVER, Feb 24, 2003 /PRNewswire-FirstCall via COMTEX/ -- UCAP, Inc. (OTC Bulletin Board: UCAP), a leading national mortgage lender committed to setting the next generation standard in mortgage banking, announced its guidance today for calendar 2003, representing Q2 and Q3 of Fiscal 2003 ending June 30, 2003 and Q1 and Q2 of Fiscal 2004 ending December 31, 2003. The Company's Board of Directors recently voted to change the Company's fiscal year end to June 30, thereby creating a stub period. The announcement was made by Dan Moudy, UCAP Chairman and CEO.
The guidance being issued has been iterated on a quarterly basis by Loan Originations, Revenues, Pretax Income, Net Income and EPS.
Q2 Q3 Q1 Q2
Mar. 31, June 30, Sept. 30, Dec. 31, Total
'03 '03 '03 '03
Originations $400 mm $653 mm $811 mm $807 mm $2.67 b
Revenues $6.5 mm $10.4 mm $13.8 mm $14.6 mm $45.2 mm
Pretax Income $.384 mm $2.2 mm $3.5 mm $4.2 mm $10.3 mm
Net Income $.238 mm $1.4 mm $2.2 mm $2.6 mm $6.4 mm
EPS (fully
diluted) $0.01 $0.04 $0.06 $0.07 $0.18
Mr. Moudy noted, "Our significant quarterly revenue increases are almost exclusively the result of organic growth. While many other companies have been impacted by the slowing economy, our business and growth continues unabated with UCAP forecasting a remarkable 90% increase in revenues and an EPS of $0.18 versus a loss of $0.11 for the comparable period. We believe that our future results will continue to reflect the strength in our underlying business and our unwavering commitment to growth in both the top line and bottom line."
About UCAP
When is the earning report due?
I hope the audit results will be released this week or some type of information. Two months ago Mr. Martin said he would keep investors informed " ........ but will keep investors informed as the audit is near completion." We should e-mail Mr. Martin and remind him of his promise hopely that will encourage him to do as he said. A statement from the company doing audit could breathe some life into our investment.I am sure those auditing the company would release a statement if they were asked by Veltex.
Great predictions, looking forward to seeing VLVT @.03.
I receive my information about the company from new releases by the company and the information I receive from others on this board for example:"Contrary to what some say about Matin, he is not taking $millions out of the
company. Quite the opposite. He is personally paying a lot of the bills
until that !^@&*@(!!!# audit comes in and some relief measures can be taken."This small investor has 60,000 shares of VLVT.
Since you do not know me you do not know how important it is for me to speak the truth I hate disappointing the One I try to serve. I can also prove how many shares I own if you would like by copying and pasting the information from my account with Scottrade.
To know Mr. Matin is personally paying a lot of the bills until the audit comes in informs me of how hard he is working to make Veltex sucessful also, how much faith he has in the company.I purchased more shares of the company's stock today so I can share in his sucess along with the other shareholders.
Thank you for sharing your e-mail from Mrs.Duff with all on this board. What Mrs. Duff said,to me, confirms what Mr. Matin said, " ....we feel this is an excellent opportunity for shareholders to jump in during the early stages." I plan to purchase more Veltex stock at the present low price. Great to hear again all is going well at the company.
Here is some information I located about 30 of Veltex trucks.
Veltex purchases 20 Freightliners
Veltex Corporation December 5, 2002, completed the purchase of 20 Freightliner trucks. The 2001 Freightliner Classics are in "like-new" condition, have been refurbished and carry full warranties. All of the trucks are being bought under the Veltex Corporation name with an initial payment of $135,000 and the remainder financed through Daimler Chrysler Finance.
Feb.10,2003 (Business wire)(Bigcharts.com) Ten Veltex trucks financed by International finance. Feb.25,2003 (CCN Matthrews via comtex)(bigcharts.com)"trailers have been financed through city capital".Could it be all three companies were deceived and all are using the same repo man? I e-mailed Mr Matin again today my third e-mail to him in a week. I asked if he had seeked the help of the SEC,if he had to share the letter he received from them with Veltex shareholders. In hope the letter would increase the confidence of those that own the stock. On my way from VA to NC a week ago I was on the look out for Veltex trucks. If only there had been a Veltex truck at the rest stop we stopped at. I would think those that drive for Veltex would know how well the company is doing. I would also expect them to own enough shares of the company's stock at this price to retire early, if all is well with the company.
I would like to thank Mr.-Wonderworld for posting about veltex on the Raging bull:stocks under .05 message board. I would also like to thank those that are posting helpful information here. After reading some of the messages on Raging Bull, I began to wonder if Veltex exsisted and if it did could the information released by the company be believed. So, I wrote the SEC in search of the truth. I copied and pasted a message from the Raging Bull, Veltex message board on to my e-mail. I also told them of the companies press releases in hope the SEC would investigate the matter and inform me who was telling the truth.I was informed by the SEC that complaints are investigated but those filing complaints would not receive any information about the findings. Now, I feel certain that Veltex is a company due the information I have read here in the last few day. Hopeful, we will receive some good news from the company shortly.
I would like to thank Mr.-Wonderworld for posting about veltex on the Raging bull:stocks under .05 message board. I would also like to thank those that are posting helpful information here. After reading some of the messages on Raging Bull, I began to wonder if Veltex exsisted and if it did could the information released by the company be believed. So, I wrote the SEC in search of the truth. I copied and pasted a message from the Raging Bull, Veltex message board on to my e-mail. I also told them of the companies press releases in hope the SEC would investigate the matter and inform me who was telling the truth.I was informed by the SEC that complaints are investigated but those filing complaints would not receive any information about the findings. Now, I feel certain that Veltex is a company due the information I have read here in the last few day. Hopeful, we will receive some good news from the company shortly.
I would like to thank Mr.-Wonderworld for posting about veltex on the Raging bull:stocks under .05 message board. I would also like to thank those that are posting helpful information here. After reading some of the messages on Raging Bull, I began to wonder if Veltex exsisted and if it did could the information released by the company be believed. So, I wrote the SEC in search of the truth. I copied and pasted a message from the Raging Bull, Veltex message board on to my e-mail. I also told them of the companies press releases in hope the SEC would investigate the matter and inform me who was telling the truth.I was informed by the SEC that complaints are investigated but those filing complaints would not receive any information about the findings. Now, I feel certain that Veltex is a company due the information I have read here in the last few day. Hopeful we will receive some good news for the company shortly.
I would like to thank Mr.-Wonderworld for posting about veltex on the Raging bull:stocks under .05 message board. I would also like to thank those that are posting helpful information here. After reading some of the messages on Raging Bull, I began to wonder if Veltex exsisted and if it did could the information released by the company be believed. So, I wrote the SEC in search of the truth. I copied and pasted a message from the Raging Bull, Veltex message board on to my e-mail. I also told them of the companies press releases in hope the SEC would investigate the matter and inform me who was telling the truth.I was informed by the SEC that complaints are investigated but those filing complaints would not receive any information about the findings. Now, I feel certain that Veltex is a company due the information I have read here in the last few day. Hopeful we will receive some good news for the company shortly.