Just to share the discussion I had with my broker (FWIW).
Today, I had lunch with my broker for a review of my accounts and we did discuss Veltex among other situations. I must say that this person firmly beleive that stocks on OTCBB and even more on PS should never be bought (he gave me s.h.i.t every time I averaged down ealier) and you may as well go to the casino. He says that at least in a Casino you will rapidly figure out if you win or loose and you will not have to pay him commission on each move...
However as I said we reviewed the following positive facts after I said that Matin has a past generating suspicions, is generating confusion and is distrust by many (saying the whole thing is just vaporware).
After reviewing recent news releases,
1- I mentionned that V.Duff (showed him her CV extracted from internet) was frustrated with Matin but still had a positive view of the guy, acknowledging he had major problems that he tries hard to pull out of. Thought that she had good credentials if what's on internet is true.
2- I showed him the CV (extracted from internet) of Jameel Ahmad who recently agreed to spearhead the company's marketing and sales efforts. Same comment as the one about V.Duff.
3- We did look at recently released financials. He was impressed but agreed that the disclaimer by the auditing firm rendered them identical to non audited financials that could be true or false or anything in between.
4- We did look at the site of the Anne Tahim firm, I showed him what I sent her and her answer to me. His comment was that, after one month, considering what Anne Tahim did following my note, she must now know much more than she apparently did before the note. He said that the total silence since then may very well mean that what I reported wasn't factual. However, considering the involvment of her legal advisors, assuming she has been fooled by Matin, she got herself in trouble by not doing her homework first and follow thru may take some more time.
5- We discuss the purchase of KCA but, as he said, we realy do not know much for sure.
6- We finally discussed the recent interview on IPODesktop and its content.
At the end, understanding where he comes from in relation with PS stocks, he concluded (he knows my financial status) that he still would not buy in or add to a position right now but agreed that selling right now (I do not realy need the money I can get) may end up having been quite an error later if everything we discuss end up being true.
His view is that, at least there now is more than one person saying the company is for real but he beleives that the key right now will be to see how Anne Tahim behaves in future, now that she knows what some say out there about this company.
This being said, did he say, I will feel much better when the company starts reporting normally and hopefully does whatever is needed (he supports R/S) to get listed on another stock market (AMEX seems a reasonnable target for him).
Bottom line, we agreed that this does now present much more upward than downward potential, it looks much better than what we were seeing 6 to 9 months ago (at least more than one person would have to be dumb or lying if it's only a scam) and that I should sit on my shares, wait and see. (that coming from him is very positive in my mind). However did he say this is still a darn PS stock.
