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You can add expanding into Canada (duty free).
Good possibility that Bangladesh with be U.S.(duty free) soon.
Expanding into surf/swimware that have higher profit margins.
I Agree 100 % !!!!
Heavier volume to the upside! Not celebrating, but it's actually doing better than the overall market.
I'm confident that 2003 was the low point for the company and now it's making sales (some very big).
2004 will be profitable for Veltex U.S.A..
Come on Matin, let's hear some more good news please!
Factory Profile - Overview Overview Detailed Profile Product Portfolio
KCA Garments Industry Ltd.
Add to my address book(Only for Buyer)
Factory Head : Mohammed Zakir Hossain
Designation : M.D.
Contact Information
Contact Person : Mohammed Zakir Hossain Factory Address : 109, South Goran , Dhaka-1219, Bangladesh.
Designation : M.D.
Fax : 02-8824509 ,
Est. Year : 1994
Professor Yunus to help Bangladesh get duty-free access to US
A bill titled “Tariff Relief Assistance for Developing Economies Act 2005” was placed in the US Congress on February 26, 2005, proposing duty-free access to US market for all products from 14 developing nations (LDCs) including Bangladesh. Professor Muhammad Yunus, managing director of Grameen Bank has agreed to facilitate the campaign of Bangladesh Manufacturers and Exporters Association (BGMEA) in gaining duty-free access to US market.
According to business sources, Dr. Yunus will use his influence and contacts in the US and meet influential person with regard to the bill in New York on April 17 and in Washington DC on April 28, says The Daily Star.
Annisul Huq, President of BGMEA, confirmed the initiative and thanked Professor Yunus for facilitating duty-free access to the US market. He has been working with Professor Yunus for the last one month regarding this matter, he added.
Married With Children happens to be one of my favorite T.V. shows. Poor Al Bundy can't seem to check a break and how about Kelly!
I happen to like the quality and price of Veltex Apparel. I believe that they are growing sales and profits and eventually that will lead to share price appreciation. The fact that they are attending more than twice the number of trade shows from last year can only mean more sales IMHO.
More Distributors of Veltex Apparel everyday:
http://dmdmarketing.logomall.com/ProductSearch/PSLineResults.aspx?DPSV_Id=63980&CATY_ID=&pF=...
http://promotionalworld.logomall.com/ProductSearch/PSLineResults.aspx?DPSV_Id=68239&CATY_ID=&...
http://teamworkpromos.logomall.com/ProductSearch/PSLineResults.aspx?DPSV_Id=75121&CATY_ID=&p...
http://www.alibaba.com/company/10208826.html
http://207.122.589.com/miragemarketingco/bagsearch.htm
http://www.imprinteditems.com/ProductSearch/PSLineResults.aspx?DPSV_Id=132666&CATY_ID=&pF=&a...
http://www.promopeddler.com/Search.php?offset=524&go=20&cat=Shirts&un=1
http://207.122.589.com/cgi-bin/products.asp?asi=93505&footer=&cat=Clothing&pt=All&py...
http://www.promotionalproducts-promotionalitems.com/products/totags.html
http://www.fapromotions.com/product.asp
http://promotionalworld.logomall.com/ProductSearch/PSProductResults.aspx?SCAT_Id=12845&DPSV_Id=6...
http://www.quality-usa.com/ProductSearch/PSLineResults.aspx?DPSV_Id=45790&CATY_ID=&pF=&p...
http://ggepromotions.logomall.com/ProductSearch/PSProductResults.aspx?SCAT_Id=12845&DPSV_Id=2815...
http://tac.logomall.com/ProductSearch/PSProductResults.aspx?SCAT_Id=12845&DPSV_Id=80474&CATY...
http://bargay.com/ProductSearch/PSLineResults.aspx?DPSV_Id=48527&CATY_ID=&pF=&pT=&ws...
Matin talks with WallStreet Reporter
http://www.wallstreetreporter.com/profiles/VELTEXCORPORATION.html
Keep focused on making Sales & Earnings!
If you are an employee, that's what I would expect you to do! Don't worry about what other people say, just speak with actions. When VLXC reports actual sales (for Example)
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
That's what real investors want to hear! Sales & Profits baby. No more estimates either, give us real, verifiable, information. These sales must be reported by the U.S. Veltex Apparel Division, signed off by the auditor, and sent to the S.E.C. A real auditor is on board and everything is lining up, lets GO VELTEX !!!!
What they are doing is distroying our economy. Do you like watching the market act like this? Our economy was just barely limping along and now we could fall back into a recession. Is that what we want? How is the government going to collect any taxes if no money is being made?
Why is our Federal Reserve bringing down our economy and raising interest rates? Please join me in asking them to stop this policy.
General Information: (202) 622-2000
Department of the Treasury
1500 Pennsylvania Avenue NW
Washington, D.C. 20220
No additional shares issued since 3/23/05.
Encouraging!
Thanks!
The Mill and the Garment Manufacturing plant are both real.
It's a matter of when the revenue is recognized. Most of the fabric is made at Velvet Textile Mill, then it goes to the K.C.A. Garments manufacturing plant to cut and sow into shirts, pants, etc.
What I don't yet fully understand is what percentage of the sale and profits go to Velvet Textile Mill, what percentage of the profits go to K.C.A. Garments, and what percentage is earned by the U.S. operations. The fact that the U.S. operations is finding and making sales means that a percentage of the profits deserves and must be recognized in the U.S.
Matin and the Bangladesh auditor stand behind the $41 Million sales and $6 Million profit in 2004. I will continue to press for a higher percentage to be recognized as revenue IN THE US !!
And if those 900 sales contacts each produce just $1,250.00 in sales that equals $1,125,000.00 in sales.
Don't forget, with a 1.8 Million NOL carryforward, there is more incentive for VLXC to claim U.S. sales (taxfree) !!!
"Veltex is currently receiving orders and expects total orders originated from this show will exceed $1 million."
This says they "expect" total orders will exceed $1 million. It's not a guarantee, but based of the orders that they were receiving at the time, they "expect" total orders of over $1 Million. I don't recall how many trade shows they attended in 2004, but I would guess about 6.
There is no question that VLXC is attending shows, making sales, improving their web site, and improving the quality of the press releases.
I am doing my best to make Mr. Matin accountable to the U.S. shareholders. There is no doubt in my mind that money is flowing back to Bangladesh. U.S. investors deserve a better percentage of the profits. I will continue to do my best for VLXC shareholders. I am not a "daytrader", I have long range goals in mind. I don't care if I can't time the exact day when to buy, but in the long run, if fundamentals are improving, then the stock price should improve also.
I'm not going to say what my price goal is, but it's hundreds of percent more than the current share price !!!!
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."
This news is old, but it shows that sales can EXCEED $1 Million per trade show!!!
VLXC to attend at least 15 trade shows this year:
Let's say Veltex Apparel does 1 Million in sales per show.
That would be $15 Million in sales.
Let's say they get $5 Million in sales from surf apparel, orders from their web site, etc. They have 1.8 Million so far that we know of.
Total Veltex Apparel only would be $20 Million
If they net 10%, net profit would be $2 Million
$2 Mil / 7.5 Mil outstanding shares = $0.27
With a reasonable P.E. of 10, the price could easily be $2.70.
This doesn't even take in what the Canadian office could produce. This doesn't even take in Velvet Textile or K.C.A. Garments. The price should be at least $3 - $4 per share.
Am I being unreasonable? I don't think so IMHO!!!
The real big deals have not been announced yet!
Stay tuned for multi Millions in Sales and earnings!!!
Investor's Business Daily has taken notice of VLXC
I.B.D. is read everyday by millions of investors. The fact that Veltex Corporation news is reaching I.B.D. is a very good sign.
http://www.investors.com/breakingnews.asp?journalid=26953785
Seems to me that the assets of Velvet Textile Mills were used as colateral for the 40 semi trucks. With gas prices rising, etc. the trucking division lost money and Matin was forced to give the trucks back in late 2003. As of 12/31/2003, the debt to the leasing company was not yet satisfied. I would guess that a lien was placed against Velvet Textile Mills for the balance owed to Volvo.
Anne Tahim didn't have a problem with ownership of the mill in 2002.
Was this debt settled in 2004?
Will the financial statements be consolidated in 2004?
Was a big chunk of the $8 Million in cash shown on the 2003 Balance Sheet used to buy K.C.A. Garments?
George, You ask some good questions.
I think part of the problem with answering your questions is that Matin would need to provide those answers to everyone, not just one person due to full disclosure rules.
It's safe to say that Cash and shares went to purchase K.C.A. and I would imagine the same is true for Gidget, although no official announcement has been made yet that I recall.
You do make a valid point that Matin needs to explain deals fully and accurately. The last few press releases were encouraging to me because they named names, gave actual dollar values and even quoted a customer.
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
Hi Ben:
It was nice meeting with you, I appreciate your coming to see us in Vegas.
I will try to promote Gidget soon. I understand your concern.
Thank you again for your sincere trust and support.
With best regards,
Javeed Matin
Veltex Apparel
19977 Harrison Avenue
City of Industry, CA 91789
909-595-1977
Fax: 909-595-1969
ceo@veltexapparel.com
RN # 115119 found on the new shirt I ordered and just received from Veltex.
Where is this great news that you have been promising?
Congratulations, you got me to buy a few more shares.
George, I have a technical question for you.
Would you buy ENER based on technicals?
I think the chart looks good, but I'm no expert as everyone can see.
shrotker an insider? Come on man you've been following this long enough to know that ain't true. I'm kind of surprised that this little stock hype think scarred you out. That is unless you happened to get back in at $.95. Just because a company uses a fax to promote their products doesn't make them "bad". Matin knows that he's going up against hedge funds, so he is fighting back. Go Veltex !!!!
$1,848,228 in Sales reported within the last week!
At a minimum, that would be $7.4 Million for the year (Veltex Apparel only) if these were sales for the first quarter.
It could be $22.2 Million for the year if these are monthly sales numbers.
If they received sales this size every week, yearly sales would be $96,107,856!
Time line?
Positive surprise for longs?
I hope that you are not kidding!
You revealed that you were shorting shares on some Russian or German stock exchange. You have probably made some good money at others expense. The fact that Veltex named names and even quoted the other company proves to me that real sales are happening. Why would the S.E.C. care about a company that is making real sales and promoting the stock? The S.E.C. should look into the naked short selling and other illegal activities by some hedge fund(s).
I have no idea what you are talking about.
All I know is Veltex has come out with news about specific new sales and that's all I'm focusing on now. I don't care what the short selling bashers have to say!
I'm still here!
I'm thinking that Veltex Apparel, by itself, is worth about $3.00 a share. Add KCA, Velvet Textile, & Gidget and it's anybodys guess.
News about the Canadian office is in Investors Business Daily today on page A14!
"Symatics" Part of Matin's MO
You really have to read between the lines don't you?
I think he is very clever, but he should be reminded that he works for the stockholders, not the other way around.
If he found a way and if he would use his skills for good, then he might be partially redeemed.
Invest 1980
Have you ever heard the phrase " fake it until you make it"? Now, I'm not saying VLXC is making it big, but I think they are at least trying. It is possible that Matin made a good buy for Gidget. You bring up some good points about the past, but the market also looks to the future. I would not expect greatness, but I wouldn't short them right now either.
I suppose it is possible to regain integrity. News of specific new sales certainly help !!
I went to Vegas hoping to prove that Veltex was real.
Being a shareholder, I was tired of the relentless bashing, so I went to Vegas with high hopes of proving that they are real. Yes, they do try to make sales and I imagine they did make some new contact and some sales.
The problem didn't appear to me until AFTER you posted the link for the RN number. Remember, I asked you to provide the link so that I could look up another number.
Believe me, I'm not trying to help the bashers, but I do believe that honesty is the best policy to have. Call the company that has the number I was talking about and find out for yourself if they sell to Veltex.
Tex - Again I'm sorry!
The shirt that Matin gave me was not produced by Veltex. That's why I just now believe they are not vertical.
I can't honestly let this go without warning others!
Maybe we will see a bounce with an announcement of Gidget. That's all I can say! Good Luck longs !!!
The RN # on the shirt that I was given!
106712
Note to fellow longs:
I'm very sorry! I was really trying to help us! But, now with more evidence, an being an honest guy, I can't recommend this stock.
4 booths ? No, just 1
Vertical? NO
I still have a sliver of hope for a bounce with an announcement of Gidget, but I would be very carefull not to get your hopes up too high!
I believe that the business model for Gidget is to promote the brand name, then sell the rights to other apparel companies with more manufacturing capacity. This could actually be successful IMHO!
Can someone please educate me about the ownership issue of Velvet Textile Mills? I admit, I am confused. Matin has said many times, not just to me, that he has spent $7 Million Dollars in Veltex Corporation (He seemed sincere) and he said this prior to K.C.A., so I would think that most, or all, was for Land, Building, and Equipment for Velvet Textile Mills. The Bangladesh auditor has said that $15 Million in revenues and about 1.3 Million in net earnings came from Velvet Textile Mills.
I would appreciate an honest answer, not just someone telling me how stupid I am.