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Institutional Holdings are increasing!
http://moneycentral.msn.com/investor/invsub/ownership/ownership.asp?Symbol=srls
Still a relative unknown stock, but great growth. Let's get the party started!!!
50 Day average beginning to show support, not resistance.
I do agree that we need to clear the 200 day @ 1.53 to really start feeling good.
OFI looks very good with a 39% year over year sales growth. EPS last quarter $0.07 vs ($0.01) last year.
Institutional investors just don't know about it yet, but a few are buying and none are selling.
http://moneycentral.msn.com/investor/invsub/ownership/ownership.asp?Symbol=ofi
I think GEMS will be a big winner in 2005
It has great fundamentals and technicals!!
34.6 % Sequential sales growth.
76% year over year sales growth.
Great Balance sheet (In thousands)
Assets 121,282 (No goodwill or intagibles)
Liabilities 26,097 (No long term debt)
Capital 95,185 / 66,920 Outstanding Shares
Price to book value 2.0
It just broke out on big upside volume!!!
Best of Luck to everyone !!!
GEMS is my top pick for 2005.
It has great fundamentals and technicals.
Sequential sales growth 34.6%, YoY sales growth 76%.
Assets (all in thousands) 121,282 (No goodwill or intagables)
Liabilities 26,097 Capital 95,185 / 66,920 Outstanding shares.
Price to book value 2.0
Just broke out on big up volume.
Prospective customer means someone who leaves their business card knowing that a Veltex sales person will call them and help them with their product needs. These distributors and vendors leave their cards because they have an interest in Veltex and their products. Clearly, these are "potential buyers". That's what Veltex sales people do, make tons of phone calls. Some of them turn out to be very big buyers as we have seen from some press releases recently.
Sam, I don't think we will see that much in new shares issued. In the past, Matin has acquired things first, and then told us about it later. If that is the case like I believe, then perhaps 1 Million in shares has already been issued. 6,838,087 at 2/28/2005, and about 7,900,000 now from Q 1 EPS PR.
I don't know, I just would like to see more good news and see the price stay above the 50 day average. Shareholders need a boost of confidence right now. I'm just trying to do my part. Best of Luck VLXC.
Let's GO !!!
Why would Anne Tahim Lie? For one audit fee? I don't think so. In her audit, she stated that she was provided the audit report from the Bangladesh auditor. Would Anne Tahim risk her companies future for this one audit fee? No, I believe she was provided the Bangladesh auditor's report.
The Bandladesh Auditor, M. N. Islam & Company is a member of the
The Institute of Chartered Accountants of Bangladesh. You can find that here: http://www.icab-bd.org/about/ I guess if you believe that all Bangladeshies lie, then you could make the argument that he is not telling the truth.
I know that K.C.A. Garments Limited is a member of the
Bangladesh apparel manufacturers. You can find it here:
http://www.bangladeshgarments.info/bgmea/y_pages/apparel/common/index.cfm
I feel that alot of cash and stock was used to purchase K.C.A., so I feel that the 16 Million in Sales and 2.2 Million in profit for K.C.A. for 2004 is accurate.
Just for argument sake, I would say that (1.8 Million U.S. sales per quarter from recent P.R.s) * 4 = $7.2 Million sales, $800,000 profit.
Velvet Textile has been more difficult to verify. Still, from what I can gather, VLXC should have verifiable income of 3 Million, or $0.38 per share. $0.38 * 7.5 = $2.85 share price right now. You can disagree with me, but I'm telling you exactly where I am coming from!!!
"We are a major stock house-F.O.B. Ca, or F.O.B. overseas factories".
That's what it says on an insert to the 23 pages ASI catalog that is provided at the trade shows.
I think F.O.B. means "Free On Board".
Veltex Apparel U.S.A. needs to start recording more of the sales in the U.S. rather than Bangladesh.
The P.R. person told me that more and more of the sales WILL be U.S. sales. He also told me that becoming "Fully Reporting" is still in the plans, but may take 6 months for that to happen.
I can wait, my daughter is only 4 years old. I don't need the money yet!
Acquisition would help next years growth rate
And yes, the earnings would be U.S. so we wouldn't have to consider the foreign subsidiaries reporting issues.
The shares may already have been issued for the acquisition too. Why do some stocks become 10 baggers (1000% gains)?
Because the market doesn't always know everything.
I'm just not basing my decision from someone who claims to own 50% of Velvet Textile Mills, yet wants to see VLXC fail.
To me that doesn't make sense!
Matin has said many times that Velvet Textile provides KCA Garments with fabric, KCA cuts and sows the fabric into shirts and pants and Veltex Apparel imports the shirts and pants into the U.S. and Canada and sells the products through trade shows, their own website and hundreds of distributors.
By performing all three functions, margins are higher than if you are just a manufacturer. It makes sense to me that if you make almost 5% margin on each "function", then combined 13% is very reasonable.
Sure, some people have doubts. That's fine, but what proof do they have? For Matin, he has Anne Tahim's signature that for Velvet Textile Mills, the audit was compiled by other auditors WHOSE REPORTS HAVE BEEN FURNISHED TO US.
We also know that M.N. Islam & Company is a member of The Institute of Chartered Accountants of Bangladesh. We also know that the S.E.C. treats foreigh auditors the same as U.S. auditors, they don't descriminate.
I believe that lots of cash and stock was used to purchase K.C.A. Garments, so I feel that the numbers for them are real.
I also believe Matin who has said many times that he put $7 Million of his own money into Velvet Textile Mills.
It may take some time, but hiring a C.P.A. firm who is known to take companies to larger exchanges is a positive sign. Things very well could be much better than some bashers would have us believe.
I hope VLXC works out real well for everyone. Good possibility for more good news this week.
If it's a quality acquisition, then it should be done.
If it means say 1 Million in earnings per year, then if it costs less than 3 Million of 33% ROE, then it would be a good deal IMHO.
I'm just pulling these numbers out of my hat, because I don't know what the real deal might be.
I don't really understand all the worry about share count. If the EPS is growing accordingly, then it really isn't "dillution".
Clearly, the biggest issue is credibility. If Matin can address the foreign subsidiaries (consolidation) issue and work to become fully reporting, then we have something quite nice here. It may take some time, but why would he hire the C.P.A. firm in the first place? You don't need audited yearly financials to be on pink sheets!
Huge Q1 '05 for VLXC
Veltex Corporation Announces Record Sales and Profit for First Quarter 2005
May 16, 2005 08:00:00 AM ET
CITY OF INDUSTRY, Calif., May 16 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, today announces consolidated financial results for the First Quarter ending March 31, 2005.
Veltex Corporation First Quarter consolidated revenues totaled a record $13,270,345, while Net Profit was $1,739,537 or 22 cents per share. This First Quarter of 2005 was an increase in gross revenue of over 30% compared to the same time last year with gross revenue of (approx) $10,249,000, or about 17 cents per share in the previous year of Q'1, 2004.
Finn Walstad, CEO of OTCGrowth.com, commented, "I am very pleased with the First Quarter results and feel confident that Veltex will reach its projected goal of $55 million in sales for this year, up from about $41 million in 2004. Frankly, we believe that the stock, currently trading around $1.00, is extremely undervalued at this time, based on its strong fundamentals. In my opinion, this is a well-managed, quality company that has major appreciation potential."
Veltex Corporation clearly has enormous appreciation potential based on its realistic revenues and net profits projections. It is very rare to discover a company whose stock is so undervalued and yet has everything in place for a dynamic near-term upward move to significantly higher prices. Veltex is a well managed company, with a strong vertical infrastructure in place that expects to generate revenues in excess of $55 million in 2005 with net profits of over $11 million or approximately $1.38+/- net earnings per share (EPS), a 35% increase from 2004.
-- 2005 Projected Revenue $55mm
-- 2005 Projected Profit $11mm
-- 2005 Projected Net Earnings $1.38 per share a 35% increase from 2004
Javeed Matin, CEO of Veltex Corporation, stated, "We are proud of our strong growth progress and clearly feel that 2005 will be another year of record profitability. Veltex is providing high quality apparel and accessories in a timely manner to an ever-growing list of clients and customers.
"We expect that our recent entry into the Canadian Marketplace will be very positive to our overall revenue growth. Furthermore, we are looking forward to making a major acquisition shortly that will give us an even stronger foothold in our target markets."
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.
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.
© 2005 PRNewswire
VLXC reports a huge Q 1 2005
Veltex Corporation Announces Record Sales and Profit for First Quarter 2005
May 16, 2005 08:00:00 AM ET
CITY OF INDUSTRY, Calif., May 16 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, today announces consolidated financial results for the First Quarter ending March 31, 2005.
Veltex Corporation First Quarter consolidated revenues totaled a record $13,270,345, while Net Profit was $1,739,537 or 22 cents per share. This First Quarter of 2005 was an increase in gross revenue of over 30% compared to the same time last year with gross revenue of (approx) $10,249,000, or about 17 cents per share in the previous year of Q'1, 2004.
Finn Walstad, CEO of OTCGrowth.com, commented, "I am very pleased with the First Quarter results and feel confident that Veltex will reach its projected goal of $55 million in sales for this year, up from about $41 million in 2004. Frankly, we believe that the stock, currently trading around $1.00, is extremely undervalued at this time, based on its strong fundamentals. In my opinion, this is a well-managed, quality company that has major appreciation potential."
Veltex Corporation clearly has enormous appreciation potential based on its realistic revenues and net profits projections. It is very rare to discover a company whose stock is so undervalued and yet has everything in place for a dynamic near-term upward move to significantly higher prices. Veltex is a well managed company, with a strong vertical infrastructure in place that expects to generate revenues in excess of $55 million in 2005 with net profits of over $11 million or approximately $1.38+/- net earnings per share (EPS), a 35% increase from 2004.
-- 2005 Projected Revenue $55mm
-- 2005 Projected Profit $11mm
-- 2005 Projected Net Earnings $1.38 per share a 35% increase from 2004
Javeed Matin, CEO of Veltex Corporation, stated, "We are proud of our strong growth progress and clearly feel that 2005 will be another year of record profitability. Veltex is providing high quality apparel and accessories in a timely manner to an ever-growing list of clients and customers.
"We expect that our recent entry into the Canadian Marketplace will be very positive to our overall revenue growth. Furthermore, we are looking forward to making a major acquisition shortly that will give us an even stronger foothold in our target markets."
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.
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.
© 2005 PRNewswire
VLXC huge Q 1 2005
Veltex Corporation Announces Record Sales and Profit for First Quarter 2005
May 16, 2005 08:00:00 AM ET
CITY OF INDUSTRY, Calif., May 16 /PRNewswire-FirstCall/ -- Veltex Corporation, (OTC: VLXC) a vertical manufacturing, import and distribution company for apparel and accessories, today announces consolidated financial results for the First Quarter ending March 31, 2005.
Veltex Corporation First Quarter consolidated revenues totaled a record $13,270,345, while Net Profit was $1,739,537 or 22 cents per share. This First Quarter of 2005 was an increase in gross revenue of over 30% compared to the same time last year with gross revenue of (approx) $10,249,000, or about 17 cents per share in the previous year of Q'1, 2004.
Finn Walstad, CEO of OTCGrowth.com, commented, "I am very pleased with the First Quarter results and feel confident that Veltex will reach its projected goal of $55 million in sales for this year, up from about $41 million in 2004. Frankly, we believe that the stock, currently trading around $1.00, is extremely undervalued at this time, based on its strong fundamentals. In my opinion, this is a well-managed, quality company that has major appreciation potential."
Veltex Corporation clearly has enormous appreciation potential based on its realistic revenues and net profits projections. It is very rare to discover a company whose stock is so undervalued and yet has everything in place for a dynamic near-term upward move to significantly higher prices. Veltex is a well managed company, with a strong vertical infrastructure in place that expects to generate revenues in excess of $55 million in 2005 with net profits of over $11 million or approximately $1.38+/- net earnings per share (EPS), a 35% increase from 2004.
-- 2005 Projected Revenue $55mm
-- 2005 Projected Profit $11mm
-- 2005 Projected Net Earnings $1.38 per share a 35% increase from 2004
Javeed Matin, CEO of Veltex Corporation, stated, "We are proud of our strong growth progress and clearly feel that 2005 will be another year of record profitability. Veltex is providing high quality apparel and accessories in a timely manner to an ever-growing list of clients and customers.
"We expect that our recent entry into the Canadian Marketplace will be very positive to our overall revenue growth. Furthermore, we are looking forward to making a major acquisition shortly that will give us an even stronger foothold in our target markets."
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.
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.
© 2005 PRNewswire
Outstanding Q 1 2005 and an acquisition on the way!!!
GO VELTEX !!!!!
You might look at CNCN
They have signed some big deals recently. They expect to be profitable. 23 Million shares outstanding.
Just an idea, I'll look more closely at SYTE!
Thanks!
VLXC up 12% Friday up ticks on big volume too!
Expect strong Q1 '05 news perhaps on Monday 5/16.
They are attending 20 trade shows vs 6 last year and they are expanding into Surf/swimware (high margins) and into Canada (Tariff free).
VLXC up 12% Friday. Expect strong Q 1 '05 news
perhaps on Monday. Expanding trade shows to 20 this year VS 6 last year. Also expanding into surf / swimware (high margins) and into Canada.
Support a much needed rule change to curb naked short selling.
The C.E.O. of Pinksheets.com is requesting that we all respond (email or regular mail) to support a rule change to improve the OTC marketplace. Here is the link!
http://www.pinksheets.com/otcguide/issuers_shortsellingletter.jsp
Thanks !!!!
OH ! Freedom at Last !!!!!
I'm kind of clostophobic (can't spell either), so I feel better now!
Not a bad day today !!!!!!
Dear OTC Investor:
I am writing to alert you of a very important rule change that is needed to improve the OTC marketplace. I need your help to make regulators turn on the lights and protect investors from the menace of hidden short selling in the OTC market.
I think you'll agree that this issue deserves the small amount of your time it will take for you to tell the SEC what you think about this issue.
As Chairman & CEO of the Pink Sheets, I know perhaps better than anyone the importance of improving the Pink Sheets and OTCBB trading. And I know the devastating impact that small companies face when their market is tarnished by the threat of manipulation.
There is a crisis facing the OTC market today in the lack of short sale position reporting and disclosure for OTC issues. This lack of transparency regarding short selling in the OTC market allows fraudulent acts to go undiscovered and manipulative short sellers to hide.
I believe regulators should fix the problem. Small issuers traded on the Pink Sheets and the OTCBB deserve the same transparency and regulatory oversight of short selling as those listed on Exchanges or NASDAQ.
Therefore, Pink Sheets has petitioned the SEC to cause the amendment of NASD Rule 3360 and require NASD broker dealers to maintain a record of total "short" positions in all customer and proprietary firm accounts in all publicly traded equity securities as well as report this information to the NASD for public dissemination of the short positions by security. The SEC's action is urgently needed to prevent fraudulent acts, expose market manipulation, promote fair principles of trade and protect investors.
Our full rule change request is available for you to read at: http://sec.gov/rules/petitions/petn4-500.pdf and comments by other concerned OTC market participants are available at: http://sec.gov/rules/petitions/4-500.shtml
But I cannot make this important rule change happen without your help. Thus I'm asking you to write a letter today, and voice your support to the SEC for the Pink Sheets' Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination.
So please send your comments via Email to: rule-comments@sec.gov with a Cc: copy to: pubcom@nasd.com
Or, if it's more convenient, you can mail your comments to:
Jonathan G. Katz
Secretary, Securities Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
With a copy to:
Barbara Z. Sweeney
Senior Vice President and Corporate Secretary, NASD
1735 K Street, NW
Washington DC 20006-1500;
Either way, your Email or letter should refer to SEC File No. 4-500. Request for Rulemaking Regarding Member Records of "Short" Positions and Reporting and Public Dissemination of Aggregate Positions by Security.
I know I'm asking you to do a lot. But it's important that we make the OTC market transparent and fairly regulated. I think you'll agree that this issue deserves the small amount of your time to tell the SEC what you think about this issue.
Remember, the only way to succeed in achieving this rule change is through the public outcry of investors demanding the SEC make this needed improvement to the OTC markets, and there is no substitute for your personal voice in this debate. This important rule change is not going to happen if you remain silent.
So please, don't rely on others to get the job done. Write your Emails or letters today. Together, we must win this battle and convince the SEC not to treat the OTC secondary markets for small companies as second class citizens.
Without this rule change investors and securities regulators will be blind to any short selling activity in Pink Sheets and OTCBB stocks. The SEC needs to know that the lack of short sale information in your securities is unacceptable and demand they change NASD Rule 3360 immediately.
I'm asking for your help to improve this critical part of the securities market, so that companies like yours will be traded in transparent, efficient and well regulated OTC markets. Please do your part by writing your Email or letter today. Every voice counts in the debate, and yours could be the one that puts us over the top.
Thank you for your time and help in this fight.
Sincerely,
R. Cromwell Coulson
Chairman & CEO
P.S. We can only succeed in making these rule changes with your help. So please, take action today. And once again, thank you very much for your help.
Note: To comment to the SEC via Internet, use rule-comments@sec.gov with a Cc: copy to: pubcom@nasd.com
File No. 4-500. Request for rulemaking regarding member records of "short" positions and reporting and public dissemination of aggregate positions by security.
SEC Public Petition page: http://sec.gov/rules/petitions.shtml
Pink Sheets request is available at: http://sec.gov/rules/petitions/petn4-500.pdf
Comments by other concerned OTC market participants are available at: http://sec.gov/rules/petitions/4-500.shtml
Matt, Please let me out!!!
I promise not to spam!
These 3 walls and bars are closing in on me! I'm getting clostriphobia (besides I can't spell)!
AHHHHHHHHHHHH!!!
The price of resin is going up these days. That bodes well for this company. Just like the price of steel going up helped steel companies.
Oh well, you don't want to know about it. Stock's that "break-out" like this often double in price in a few months or less.
Sorry!
Matt, I'm pretty sure that I'm here because of "spamming". It's true that I mentioned a stock that I'm following on a few message boards. I'm sorry for doing this. I meant no harm. I thought my "tip" could actually be quite beneficial, but I promise not to do this in the future. I'll stick to matters that effect the stock on that particular board.
How long do I have to stay in jail?
Gidget could be worth Multi-Millions in license fees and royalties. I have asked Matin and I urge other investors in VLXC to ask Matin to announce that VLXC has acquired 100% of Gidget.
Now is the time to give back to the shareholders Matin! The market has discounted mistakes of the past. Now is the time to go forward and make this a success!!!
Yes, then there was news about Canada, Coral Head, Sun Shirts, etc. My concern is about Gidget. I feel that VLXC shareholders deserve to own it 100%.
George I respect your technical knowledge. My investment philosophy just relies more on projected growth rates and price/earnings ratios. The P.E.G. ratio is my favorite since it allows me to buy growth stocks before they become overpriced. Whether or not VLXC performs largely depends on how well their future sales meet expectations. At $1.00 per share those must not be very high. My guess is that the Canadian office will add 33% to next years sales.
People who have followed this stock know that there are other growth possibilities that have not been announced yet. I have met Matin and believe that he has the desire necessary to succeed. My hope is that he will give back to the VLXC shareholders who have supported him in the past (i.e. Gidget) People have to make up their own minds though and this is just my opinion!!
It says 8 Million + or -
I think Rawnoc's number is correct at about 7.5 Million.
All indications are that the 2004 audit should be done in June. I'm sure we will see some U.S. sales in the '04 audit. They are attending at least twice the number of trade shows in '05 plus the Sun Shirts, Coral Head, and the others leads me to believe that '05 is off to a great start.
I'll be buying more at this level even though I'll probably be bashed for it!
Remember last year when they received 1 million in sales from one trade show? Well, they attending 5 this week. I can't wait for the audited quarterly report to come out!
Veltex Corporation Announces Expectations of Over $1 Million in Revenue from Trade Show
CITY OF INDUSTRY, Calif., Nov 22, 2004 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (Pink Sheets: VLXC), a vertical manufacturing, import and distribution company in the apparel industry that is headquartered with sales and marketing offices in City of Industry, CA, and with its factories in Bangladesh, said today that its recent attendance at The International Hotel, Motel, and Restaurant Show in New York City was very successful. Veltex is currently receiving orders and expects total orders originated from this show will exceed $1 million.
Javeed Matin, Chairman & CEO of Veltex states, "For the Company, this was one of the most successful shows we have ever attended. There were approximately 45,000 attendees, which was an excellent turnout. We plan to increase the number of trade shows we attend in 2005."
`Abundant cotton to have a positive impact on textile industry`
Our Regional Bureau / Coimbatore April 09, 2005
Abundant availability of cotton and fall in cotton seed prices is expected to have a positive impact on the textile industry, said S C Grover, chairman and managing director, Cotton Corporation of India, in his address on ‘Sustainable Global Competitiveness of Textile Industry’ jointly organised by CII and Southern India Mills Association of India (SIMA).
“Cotton yield per hectare in the country has increased by 40 per cent to 440 kg in the last two years. Cost of cultivation is expected to come down further with the fall in cotton seed prices,” he added.
Grover pointed out that the increase in productivity per hectare was not only due to favourable agro climatic conditions in the country but also as a result of team work by the farmers, agricultural universities and various marketing initiatives undertaken.
In 2002-03, cotton yield per hectare was 302 kilogram and jumped to 392 kilogram in 2003-04.
The reason for the growth in yield per hectare was as a result of farmers in Punjab and Harayana jointly working with the agricultural farmers who were advising them on the quality of seeds and quantity of pesticides to be used.
It was found that when there was crop failure in 2001-02, farmers went to moneylenders for cash who, in turn, did not pay them in cash but gave them the required seeds and pesticides. The farmers were not able to check the quality of seeds as well as the pesticides given by the moneylenders.
Grover said that with the increased yield per hectare in the recent years, there has been a change in the outlook of farmers who now ensure that they purchase good quality seeds and do not depend on the moneylenders for seeds nor pesticides.
Farmers were using almost 50 per cent of pesticides in cotton cultivation which has been gradually on the decline, he added.
Here is the K.C.A. Garments Factory address and Bank info:
109, South Goran , Dhaka-1219, Bangladesh.
Pubali Bank Ltd. 26, Dilkusha C/A Dhaka - 1000
City: Dhaka
Country: Bangladesh
Phone:9551614-7, 9569050
Big Week of Trade Shows
http://www.veltexapparel.com/PDF/TradeShowCalendar.pdf
Jacksonville
2-May
Holiday Inn Baymeadows
9150 Baymeadows Road
Jacksonville
FL 32256
(904) 737-1700
Orlando
3-May
Holiday Inn North
230 West Hwy 460
Altamonte Springs
FL 32714
(407) 862-4455
Tampa
4-May
Double Tree Hotel
4500 W. Cypress St
Tampa
FL 33607
(813) 879-4800
Fort Lauderdale
5-May
Sheraton Suites
555 NW 62nd St.
Fort Lauderdale
FL 33309
(954) 772-5400
Miami
6-May
Dade County Firefighters Hall
8000 NW 21st St
Miami
FL 33122
(305) 593-6100
The Coral Head announcement is very important because it proves that VLXC has expanded into surf/swimware. Look at the margins in swimware! Here is one of the sites that was listed in the Coral Head P.R. I didn't realize swimware was so expensive. The profit margins must be huge!
http://valsurf.com/online_shop.htm" target="_blank">http://www.valsurf.com/frameset.htm?http://valsurf.com/online_shop.htm
Price target $3.00
Barry Bjurman, Oberwise, Gartmore, and many more fund managers buy stocks that have a low P.E.G. If earnings are growing at say 30%, buy stocks that have a P.E. of about 15, or a P.E.G. of 0.5. I know these guy do, so look for these kind of stocks say in Investors Business Daily in the "Best Up" earnings reports and do research from there on. I have been sucessful buying stocks in this manner. You can say "value investing" is used as bait or whatever, but I'm going to stick with it!
You don't mention anything about improving fundamentals. Take the recent big sales contracts, don't they play a part in the market price.
4/7/2005 West Surfing Products $750,000
4/8/2005 Sun Shirts LLC $161,228
4/8/2005 Sun Shirts LLC $369,000
4/12/2005 Coral Head, Inc. $568,000
Total $1,848,228
For a stock with a market cap of less than $8 Million, shouldn't an investor pay attention to this?
At this rate, sales could easily double the market cap. That's why I treat this as a value investment that is growing!
Most fund managers that I have read about are G.A.R.P. investors.
Why did the stock price go from .60 to 3.90?
Do you think everyone knew everything about the stock when it was trading at .60?
I think alot of traders have stop limits and when they are hit, the price continues to fall.
Do you think MM have anything to do with the volitility?
When they bought the semi trucks they disclosed in the press release that they used cash and colateral of Velvet Textile Mills to make the purchase.
There is a contingent liability of $561,000 on the books as of 12/31/03. The notes also disclosed that this is due to the semi trucks.
As long as they can get items from the Bangladesh factories at cheap prices and sell them in the U.S. at a good profit then that's fine with me!
The market price doesn't reflect much from the Bangladesh Factories, any positive development would be a big boost to the stock price IMHO!!
The notes disclosed that due to SFAS 94, the foreign subsidiaries were not allowed to be consolidated as of 12/31/2003. This could be caused by two things in VLXC's case:
1) Temporary majority ownership or control of the corporation by interest unrelated to the parent.
and/or
2) Subsidiaries whose operations are severely limited by foreign governments.
Since the assets of Velvet Textile Mills were used as collateral to buy the semi trucks in 2003, I can only speculate that this could be a reason why the auditor declared a lack of absolute control.
This doesn't mean that things could not be cleared to be consolidated in 2004. Time will tell. In the mean time, I'm focusing on the large new sales contracts and expansion into Canada.