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.
Thanks for the math correction, it was late, I should have used the calculator. Well here we go, new symbol, new price level, new press release. Let's see what happens. Good luck to all.
GO VLXC!!!!
Well I had 1.6 million shares which have now been chopped down to 160000 :( I have not traded any of my shares through the recent ups and downs and wonder if I should have (good old hindsight). Is a stop limit order advisable at this time? The recent news if true (I have no reason to think it's not) has made me sit here on the sidelines and watch and wait. Looks like this stock should make a major move provided Matin does not flood the market with more shares...
Veltex Corporation Significantly Raises Sales Guidance for 2004
10:53 Friday, September 24, 2004
CITY OF INDUSTRY, Calif., Sep 24, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (OTC: VLVT) today raised its financial guidance for 2004 by 60% from its previously announced net sales estimate of $25 million to $40 million. Management is providing net income guidance for the full year 2004 of $6 million or $.03 per share.
The improved guidance is due to the increased demand for the Company's products and the successful integration of the Company's acquisition, KCA Garment Industries. The acquisition of KCA has provided Veltex with numerous synergistic benefits including the ability to capture both the market for manufacturing high quality fabrics and garments. Additionally, the Company believes this acquisition positions it to compete for business with high-volume membership warehouse stores and mass merchandisers like Costco Wholesale Corp. and Walmart Stores Inc.
Javeed Matin, Chairman and CEO stated,"After two quarters of tremendous growth in sales and profitability I am excited about the future of Veltex. Our acquisition of KCA has been a tremendous success. We look forward to continued growth through organic expansion and accretive acquisitions."Veltex sales were $21.0 million in the first half of 2004, totaled $19.99 million in 2003, totaled $13.9 million in 2002, and sales in 2001 were $8.7 million. Audited financial statements for the Company's 2001 and 2002 results are available at the investor relations section of the Company's website.
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
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.
For further information, please contact Paul Knopick of E&E Communications, +1-949-707-5365, pknopick@eandecommunications.com, for Veltex Corporation.
SOURCE Veltex Corporation
CONTACT: Paul Knopick of E&E Communications, +1-949-707-5365,
pknopick@eandecommunications.com, for Veltex Corporation
Web site: http://www.veltexcorporation.com
(VLVT)
http://www.prnewswire.com
Copyright (C) 2004 PR Newswire. All rights reserved
American Fire Retardant Corp. Management Optimistic
09:15 Wednesday, September 08, 2004
SAN DIEGO, Sep 8, 2004 (BUSINESS WIRE) -- American Fire Retardant Corp. (OTCBB:AFRN) shares the outcome of their bi-annual management conference and symposium today in a call with investment bankers and shareholders.
Over the Labor Day weekend, AFRC management held their bi-annual offsite meetings to discuss the anticipated year-end sales forecasts from all departments and subsidiaries and to develop new strategies to assure continued growth and development of the company. In these meetings the tone was very optimistic, the numbers impressive and the achievements noteworthy.
Mr. Stephen F. Owens, President of AFRC, said,"I understand the disappointment by the shareholders in the recent stock split and am concerned by the rapidly falling price, and the lack of confidence this has created. I only wish that shareholders could see how hard we are working to assure the success of AFRC and the strength that has developed in the company over the past year."Mr. James R. Wheeler, Vice President of Sales and Marketing, said,"With the acquisitions in both business and team members AFRC has made over the last few months, we are positioned for what industry calls hockey stick growth."He continued the analogy by telling an old Asian story about bamboo ...
There is a type of bamboo that grows incredibly fast, sometimes averaging two feet of growth a day. The people who grow this bamboo associate it with values such as persistence, diligence, and stability.
Suppose that the bamboo's abundant growth impressed you so much that you decided to raise a hedge. After consulting the experts, you know to plant the seeds in a barren plot and sprinkle the soil with four cups of water each day. But this is all you know.
YES! you say, as you follow instructions and eagerly await results. Day after day, you sprinkle the soil and scan the backyard for new shoots. After the first couple of weeks, the novelty wears thin. You become bored with the process. Sometimes you wonder why you planted bamboo in the first place.
After the thirtieth day, you notice how everything else is lush except your plot of ground. The neighbors start to make snide remarks. You begin to wonder, what if I skipped today? Would it make any difference?
Soon the weeks turn into months. You feel foolish and find it harder to defend your original decision. You start to doubt your environment, your skills, and everything that made so much sense before. Surely, there would be a sign of life by now. You ask yourself, if bamboo grows so fast, why haven't I seen anything yet?
After 72 days, you decide the bamboo must be dead and give up.
Would this be your scenario, or would your doubts have stopped you sooner?
The story of bamboo is not only about persistence. It is also about believing in what will happen next. The bamboo is not dead, it just doesn't send up a shoot until after the 110th day. Then it grows fast. But you didn't know that. Could you have overcome your doubts to trust the result to come?
For the first 100 days, bamboo focuses on creating an infrastructure of strong roots to support itself. Though it didn't appear to be, the bamboo was saying YES to life the whole time!
Like the bamboo, AFRC needs a strong foundation to grow, and we have to trust it to take time. How many of our well-intentioned goals and ideas get killed before we establish a strong foundation upon which to build them? Sometimes it is easier to follow through once we know what the result will be. But how often do we have the privilege of that knowledge?
In closing, Mr. Wheeler stated,"AFRC has come a long way over the past 17 years, even if many of our valued shareholders cannot see that progress at this point. I just ask that each and everyone of our management team, employees and partners work at 110% to show them that we appreciate their support."Question to shareholders ..."CAN OR WILL YOU WAIT UNTIL THE 110th DAY AND WITNESS THE SUCCESS OF AFRC?"About American Fire Retardant Corp.
American Fire Retardant Corp. (OTCBB:AFRT) -- www.americanfireretardant.com, is in the business of developing, manufacturing and marketing a line of"Life Safety"products including interior and exterior fire retardants. American Fire Retardant Corp. and their American Safety Products Company also designs new technology for the Life Safety marketplace and the fire resistive applications that are being mandated by local, state and governmental agencies. Additionally, the company is active in the construction industry as sub-contractors for fire stop and fire film installations.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this news release are forward-looking statements that involve risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
SOURCE: American Fire Retardant Corp.
CONTACT: American Fire Retardant Corp.
James R. Wheeler, 619-258-3640
E-mail: irafrc@aol.com
Customize your Business Wire news&multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at www.BusinessWire.com.
Copyright (C) 2004 Business Wire. All rights reserved.
I really can't believe this is happening... :( This is the second stock this week to do this. The last one did a 250:1 r/s. What's an investor to do?
Who? Who? Left a message on your machine? Mr. Veltex???
kingnazzikanazzer
What does this mean?
<SEC-DOCUMENT>9999999997-04-032346-index.html : 20040804
<SEC-HEADER>9999999997-04-032346.hdr.sgml : 20040804
<ACCEPTANCE-DATETIME>20040804154313
<PAPER>
ACCESSION NUMBER: 9999999997-04-032346
CONFORMED SUBMISSION TYPE: REGDEX
PUBLIC DOCUMENT COUNT: 1
ITEM INFORMATION:
FILED AS OF DATE: 20040803
EFFECTIVENESS DATE: 20040803
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: VELTEX CORP
CENTRAL INDEX KEY: 0001085040
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: REGDEX
SEC ACT: 1934 Act
SEC FILE NUMBER: 021-10850-40
FILM NUMBER: 04039568
BUSINESS ADDRESS:
STREET 1: 19977 HARRISON AVE
CITY: CITY OF INDUSTRY
STATE: CA
ZIP: 91789
MAIL ADDRESS:
STREET 1: 19977 HARRISON AVE
CITY: CITY OF INDUSTRY
STATE: CA
ZIP: 91789
</SEC-HEADER>
<DOCUMENT>
<TYPE>REGDEX
<SEQUENCE>1
<FILENAME>9999999997-04-032346.paper
<DESCRIPTION>AUTO-GENERATED PAPER DOCUMENT
<TEXT>
Document 1 - file: 9999999997-04-032346.paper
</DOCUMENT>
</SEC-DOCUMENT>
shrotker,
If you are uncomfortable posting the information you received from Veltex are you comfortable explaining who you contacted at Veltex and what your query to them was?
Thanks,
Rob2004
One other thing, has anyone tryied to buy in at these new lows of .08 and recieved any shares or has everyone taken a wait and see position on this stock?
Any opinions as to why we have been reading about VLVT trade show participation and never hear about any sales generated via their P/R machine. What is that all about? Could the sales cycle be so long in their industry that no one has yet signed a contract to purchase VLVT's wares? I know that the revenue can not be booked immediately, but just the knowledge that people are interested in what they have would be of comfort...
I think your second opinion is probably correct... Hopefully for about .50 a share...
Just my opinion.
I just want to thank you all for "the" most amusing thread of posts I have ever seen starting at about 0719. It certainly eases the anxiety of waiting for stock to reach the levels it should and will be at. "The waiting is the hardest part."
Rob2004
Nothing new came out of the webcast... Did anyone else give it a listen? I was intrigued by the partner/aqusition dance.
I think your valuation methods are extremely conservative. At $55M and 8% earnings the shares are worth ~ .0275 which would proabably trade at .03 that is ~ %50 higher then the current price. If it trades at any multiple say 2 we still should have at least .05 - .06
Am I being too optimistic here???
so what is the upside from the current .02 at these revenue levels? .10? .20? I they were to be bought out could this company be worth .50 - 1.00 a share? I wish they would produce audited financials.
Isn't it interesting how the news of news has driven the price up? If indeed this is the cause and effect. And I guess the bashers did not return at .02...
Looks like we're on for July 14 @7:00AM EST
http://www.vcall.com/EventPage.asp?ID=88645
PS... Thanks for the update! EOM
The anticipation is killing me. EOM
Holding it's own at .017 is nice. I hope this is a new plateau on the up to the next one and that we don't see (as I'm sure none of wants) the .013 and lower again. I am still curious about what "non-event" had shares trading at the .02 level. I read the speculations posted, but I wish we could hear from Veltex themselves. I hope the people(s) that are able to attend the trade show can post back some information upon their return.
Onwards and upwards!
11:30AM EST No activity... Is this the calm before the storm? EOM
That would be too good to be true, although still below my GTC order price. Schwab shows no activity at this time...
Big day!
825,000 shares sold at .02!
I wonder what is on the horizon?
Hang in there!
I'm buying all I can!
where has everyone gone???
Is it possible!? 11:30AM EST and there is absolutely no activity for this security! No bid, no ask, no volume!
Did I miss something???
hypothetically if another company were to make an offer to buyout Veltex could the stock price potentially rise above the offer price?
I'm hoping that it's more like .05... :)
Interesting point you raise...
1.5+ million shares traded up .002!
From the 5/19 press release:
"... 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)..."
"The Company has projected that 2004 sales will exceed $25
million..."
Well this is pretty impressive... a 7.6% profit margin on 2003 sales. If they are able to maintain that level of profitability
in 2004 let's say on 27 million that would be a profit of $2,052,000 or approximately $0.01 per share (169,531,946 shares outstanding). It is exactly $0.0121 per share if the number of outstanding shares is accurate. With a PE of 21 this stock should be trading at a $0.25. Why is the management team of this company delaying the reporting of audited financials? Don't they want to reap the rewards of their efforts? Can it be they have already because they recieved their shares at $0.001 and sold at $0.01? I am concerned with the lows this stock has been reaching and wondering if I should bail now or hold on putting my faith in Mr. Javeed Matin, Chairman and CEO...