Welcome to this board. Not very active but reflects the state of our bet on this company... dormant.
I do not have as many shares as you do but if Mati was
A)able to produce an (credible) audit
B)able to get (...) financing
C)able to (stop sellin) stocks
D)move to (any other market),
not only would the company be more repectable but it would then be a real company.
For the moment no one seems to realy know what this realy is about and everything that has been said or written by the company seems to be engineered to generate doubts and confusion.
I wonder what their real objectives are.
Here is the last statement of the December 4th 202 Business Plan presented by Vltex:
"With Gross Revenues from Velvet Textile Mills alone expected to reach $15-million for Year 2002, the company anticipates a stock price of at least $2.00 to $5.00 per share by the end of the First Quarter 2003." That would have meant that your shares would have been worth $500,000 to $1,250,000 as of last April fool day???
Reading that and having lived thru the incredible statements issued by the company therafter, you have to be at least naive to beleive that this management team is honest or competent or serious or knowledgeable or all of the above???
The only reason I am still around is that, having witnessed scams in the past (and even lost some bets) I do not remember living thru a scam which succeeded in selling millions of shares for a penny or so. Whenever a scam is being conducted, the management will at least try to sound credible for a period of time and get the price of its share move upward so they can suck in "investors???" money.
Veltex continuously issues releases that within an hour or so are ridiculed and end up having no (positive) impact on the price of the shares.
I have a hard time beleiving that this is only caused by stupidity.
Whatever that is (scam, reverse scam or failure) it is fun and not very expensive to watch.
One of these days we will witness the final outcome but do not hold your breath...
