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what was your query to Shazamstocks.com? I have not tried to contact Mr. Matin since the last time I called and he had a sales executive return my call. We are no below $1.80, I wonder if this is a ploy to squeeze people out. Although, I believe we all suspected the price would drop as the days passed and no audit was delivered, I guess we are now seeing at what velocity it is dropping. Do any of you here think this could be another buying opportunity if we hit the 1.50 mark and lower?
Thank you for your insight. I do not believe this is a pump and dump scheme, although I suppose anything is possible. How's that for decisive? last trade was $1.85... :(
:( I am still up, but I can not see watching this thing go below my buyin cost plus the exit cost, not sure how much longer I will hold on.
Got it.. and Thank you for reposting that, I know it's only about the third or fourth time. I was looking at something different that you had posted... Another morning and no news... Did you look into NWAU?
Agreed, but it seems that without the dilution (of course hoping that something of value was attained for the shares rather than a dump into the general market) the plan to get listed would not be executable. Am I correct?
Buyout talks had been tossed around in the summer...
I know that Veltex was having some difficultly meeting order demands and I am not certain how they resolved that issue, but it was resolved. As for further dilution I have no clue but it is the only thing that that I can think of that makes sense unless a traditional loan was offered to them and taken in which case I would expect to see a farily large long term debt number on the balance sheet. That's assuming I ever get to see a balance sheet...
By the way how come no one else has commented about the fact that the dilution as we know it to date was a good thing? Do we not all agree that getting this stock off the pinks would be a great thing? The requirements for AMEX dictate an OS number in line with the "current" Veltex OS number.
How come Raw didn't tell people that the dilution was a good thing? Especially if the Veltex management long term plan is to get off the pinks? Instead of just creating fear, uncertainty and doubt about what the company was doing? He knew what the plan was and probably was well aware of the requirements for the stock to get listed. I wonder what his agenda is... Hey Rawnoc, are you the one quietly buying up shares?
Go Veltex
We can only hope... although, I really didn't and don't expect anything unil closer to the middle of the month. If we pass the 18th without some word I will be very dissapointed.
Please do not reply to any of my posts or send me any direct messages. I will not repeat this request. thank you
Thanks...
WTF??? That's the second post from the Bizzaro world within a week. dude get back on the meds.... for your own health and well being.
looks like some person(s) is quietly accumulting today... Haven't seent his much volume in a day since the 24th
9:25AM here and no news I can locate anywhere on the net. I hope people have been in this security long enough to realize they should not start to sell in panic... Just my hope and opinion.
Not quiet sure what that means, but will it drive the price down temporarily and would that be a buying opportunity?
Is everyone ready for what the next 48 hours or so may or may not bring? I thought maybe they would have released the audit after close on Friday, but that did not happen so now I wait for tomorrow morning...
I vote post 6742 http://www.investorshub.com/boards/read_msg.asp?message_id=5261698
the best non sequetor and most bizzare post on the VLXC board!
well I care... If this thing is going to drop like as rock from the Empire State Building, then I would not want to take that ride past my avaerage purchase price. I would sell and possibly buy back in at the newly discounted price. And I do not consider myself a short term trader. I am an investor looking to not get burned. I have had too many stocks turn into absolutely nothing but a tax write off. For your own sake I think you should keep an eye on this one and not be afraid of someone calling you a short term trader. Good Luck.
Go Veltex!
Cool news, my broker didn't get it or if they did they did not post it... These guys need a better PR firm. Do we know if they are profitable or not? Could this be our audible.com?
My speculation is as follows:
The price is already declining and if the Feb 1 deadline is missed the question will be not if the price will decline further, but how quickly it will drop. We could be looking at 1.50 again maybe lower on over selling with a quick rebound back to 1.50. I truly hope this does not happen and that is not what I am currently planning for, otherwise I'd sell all now and buy back then.
As for a spike in the release of the 2003 audit,
This audit can only confirm (I hope) what the PR has been saying for the past year. Which could cause a slight rise closer to $3 again, which in this securities case I guess would be a spike from the $2.10 it is currently at. I personally don't think the 2003 audit release will have much effect. The release of the 2004 audit, now that's a horse of a different color, and the color I see is green (again provided that it confirms or betters the PR)... Until then it's like a ride on an escalator with worn out and slipping parts...
again just the rantings of a man who let's the falling of his guitar picks help his stock purchase descisions...
Anyone read the NY Times article about the guys who invested in Audible.com?
Thanks! I like the 12/27 PR which states "Veltex is currently undergoing its 2003 audit, which the company expects to be completed in the near future." and that's where I'd put my bet and even that could be a very long shot based upon past performance... I can only hope at this point that some of the guidance they have been releasing is true. The recent decline in the price is a bit underwhelming and seems to have taken a lo of wind out of everyones sails. This board is about exciting these days as watching grass grow and that's not even possible at the moment because of the snow and fridged temperatures.
The only thing that was somewhat upbeat although I don't think anyone here said anything about it was the fact that there were 6 million+ shares OS. This number actually turned out to be very significant and positive as positive can be based on your post # 6663. Looks like we need to see further dilution before an application can be made to AMEX. Am I reading that correctly?
ANY CORPORATION (the “Company”) hereby makes application to the American Stock Exchange LLC for the
listing of:
6,000,000 issued and outstanding shares of its common stock, par value $1.00 per share (including 10,000
shares held in the treasury), and for authority to add to the list, upon official notice of issuance:
800,000 additional shares of its common stock upon exercise of stock options granted or to be granted by
the Company pursuant to its ______ Employee Stock Option Plan; plus
YEAR
1,000,000 additional shares of its common stock upon exercise of warrants (expiring 4/15/____); plus
20,000 additional shares of its common stock upon conversion of the Company’s outstanding Series A
Preferred Stock; making a total of:
7,820,000
I'm not taking your bet, because my opinion is that a release closer to the end of the second week of February would be more realistic. They need to get through the year-end and Q4 financial close for 2004 and get those numbers to the auditors and I'm farily confident that they are not using and enterprise strength information management system at this time. By the way I don't remember which press release stated explicitly that the 2003 audit would be released by the end of January...
Well I guess not too much happened, fairly uneventful year. I am hoping this year will prove better.
I was wondering why that was directed at me...
Waiting as patiently as the next person,
rb
Veltex Corporation Announces Successful Trade Show Results
CITY OF INDUSTRY, Calif. - PRNewswire-FirstCall - Jan. 14
CITY OF INDUSTRY, Calif., Jan. 14 /PRNewswire-FirstCall/ -- Veltex Corporation, a vertical manufacturing, import and distribution company for apparel and accessories, announced today that its quality apparel and accessories have been widely accepted by major merchandisers at its recent trade shows in Orlando and in the current Las Vegas show ending today. From January 14 through the 16th, Veltex will be featuring its products at the ISS Long Beach, CA show in Booth #1860.
Javeed Matin, CEO of Veltex Corporation, commented, "We are very pleased with the positive feedback and new business that is coming from these trade shows. We estimate that our Florida shows will result in over 400 new distributors and merchandisers for our products, while the Las Vegas show should add an additional 1000+ new distributors. We look forward to another year of strong revenue growth and record profitability in 2005. Furthermore, our entry into the $6 billion surf apparel industry should accelerate our profitability."
Veltex is currently undergoing its 2003 audit, which the company expects to be completed by February to be immediately followed by the commencement of the 2004 audit.
Investors are encouraged to read a recent research profile on Veltex Corporation at http://www.otcgrowth.com/.
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 and distribution of merchandise; 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. Its current customers include brand name and private label manufacturers such as Target and Nike.
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 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.
Veltex Corporation
Web site: http://www.otcgrowth.com/
Web site: http://www.veltexapparel.com/
Web site: http://www.veltexcorp.com/
Copyright © 2004 PRNewswire
News Copyright © 2004 Interest!ALERT All rights reserved.
Call the CA HQ. He might come to the phone if you're compelling enough. I called at the wrong time about the wrong topic so I did not get to speak with him...
Although someone from the office did return my call.
Unfortunately for me I do not have any money I can easily part with. So I speculated on this company because I know this is a real company, I believe they are working to produce an audit, I believe Matin intends on making this company more profitable and does intend to move it to a real exchange. I do not know the timing, I do not know if further dillution will occur. I know other people in the same type of textile business who are familiar with this company. I do not know if he will fully succeed, but I think he can do it. I fully expect to be called all kinds of names for this post, but I am tired of reading some of nonsense posted here recently. I am long and will remain so.
Good luck to all.
I didn't see this coming... And I did buy more at $1.80. I wish you had told me this was going to happen I would have really loaded up...
I was wondering what it was going to take to get you out again. I guess it was just some "good" news...
Should the PR firm work for free? Do you?
"Ken Weiner, Publisher of Shazamstocks.com, today announced profile coverage of Veltex Corporation (Pink Sheets:VLXC)..."
GRANGER, Ind., Jan 7, 2005 (PRIMEZONE via COMTEX) -- Ken Weiner, Publisher of Shazamstocks.com, today announced profile coverage of Veltex Corporation (Pink Sheets:VLXC). The Profile is a comprehensive look at Veltex Corporation, the company's subsidiaries and products. You can view the complete profile at http://profiles.shaazamstocks.com/vlxc/index.htm
About Veltex Corporation
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 and distribution of merchandise; 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.veltexapparel.comAbout" target="_blank">http://www.veltexcorporation.comhttp://www.veltexapparel.comAbout Shazamstocks.com
Shazamstocks.com publishes profiles on up and coming publicly traded Companies. Shazamstocks.com is one of the nation's top Internet Destinations for small cap stock information. To feature your company, please call Ken Weiner, our Publisher, at (574) 273-8755 or email editor@shazamstocks.com.
Disclosure: Shazamstocks.com has been compensated by Veltex Corporation $40,000 for publication of this profile. Details can be found at http://www.shazamstocks.com
Forward-Looking Statements
Included in this release are certain"forward-looking"statements, involving risks and uncertainties, which are covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's financial performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism. Information with respect to important factors that should be considered is contained in the company's Annual Report on Form 10-K as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
SOURCE: Shazamstocks.com
INVESTMENT OPINION
By Staff
CONTACT: Shazamstocks.com
Ken Weiner
(574) 273-8755
editor@shazamstocks.com
(C) 2005 PRIMEZONE, All rights reserved.
taken from the previous post...
"As previously announced, Veltex recently consummated its acquisition of KCA Garment Industries through the issuance of additional shares. The Company now has 6,676,035 shares outstanding and is expecting total 2004 revenues to be around $40 million with approximately $7 million in net earnings.
Javeed Matin, CEO of Veltex Corporation, commented,"Our quality apparel is being widely accepted by major merchandisers and we expect 2005 to be another year of rapid revenue growth and record profitability. As soon as our 2004 audit is completed, we plan to become fully reporting and make application to move off the Pink Sheets and onto a major exchange, which will give our company much greater visibility amongst the investment community. We certainly feel that this will be a very good year for our loyal shareholders."Veltex is currently undergoing its 2003 audit, which the company expects to be completed by February 1st to be immediately followed by the commencement of the 2004 audit...."
Looks like good news to me.
Veltex Corporation Announces Upcoming Trade Shows
09:01 Wednesday, January 05, 2005
CITY OF INDUSTRY, Calif., Jan 05, 2005 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, announced today that it is featuring its quality products at various prominent trade shows this month as follows:
* ASI Florida Show in Orlando from January 3 - 5 (2 booths,
Booth # 4235)
* Surf Expo Orlando Florida Show from January 7 - 9 (2 booths,
Booth #393)
* PPAI Las Vegas Show from January 11 - 14 (4 booths, Booth #5579)
* ISS Long Beach Show from January 14 - 16 (2 booths, Booth #1860)
Distributors are encouraged to drop by Veltex's booth to check out their extensive line of apparel and accessories.
As previously announced, Veltex recently consummated its acquisition of KCA Garment Industries through the issuance of additional shares. The Company now has 6,676,035 shares outstanding and is expecting total 2004 revenues to be around $40 million with approximately $7 million in net earnings.
Javeed Matin, CEO of Veltex Corporation, commented,"Our quality apparel is being widely accepted by major merchandisers and we expect 2005 to be another year of rapid revenue growth and record profitability. As soon as our 2004 audit is completed, we plan to become fully reporting and make application to move off the Pink Sheets and onto a major exchange, which will give our company much greater visibility amongst the investment community. We certainly feel that this will be a very good year for our loyal shareholders."Veltex is currently undergoing its 2003 audit, which the company expects to be completed by February 1st to be immediately followed by the commencement of the 2004 audit.
Investors are encouraged to read a recent research profile on Veltex Corporation at http://www.otcgrowth.com
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 and distribution of merchandise; 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. Its current customers include brand name and private label manufacturers such as Target and Nike.
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 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.
SOURCE Veltex Corporation
CONTACT: Investor Relations, Finn Walstad, +1-253-564-9254, ceo@otcgrowth.com, for Veltex
CorporationURL: http://www.prnewswire.com
http://www.otcgrowth.com
http://www.veltexapparel.com
http://www.veltexcorp.com
www.prnewswire.com
Copyright (C) 2005 PR Newswire. All rights reserved.
For what it's worth, I believe the audit will be delivered no later than the third week of February. I'm holding my 20,000+ shares till that time at least.
Happy New Year to all and good luck.
check IVOC for more fun and excitement.
Thanks for the update!
It's about time something happened for these guys and my portfolio. Any word on the spin-offs we were to receive in November?
No... They just completed the transaction.
Merry Christmas to all! EOM
I guess what I am trying to say is that the share count is only one aspect of how a stock is priced. Look at SIRI another stock which I am long. I has EPS of -.51 and Price/Earnings of -15.47 and is trading at $7.95. How is the OS playing into this equation?
this symbol traded today...
Ok, let's try this again... and please read this time.
"That is a lovely definition, but how does it actually apply? Remeber amazon.com?"
I even left my typo of remember...
That is a lovely definition, but how does it actually apply? Remeber amazon.com?
WEll I hope some financial news that I am currently unable to attain is not the reason for the decline of the share price. Only time will tell... :/