For The Record Post No. 1138 By DAGNYISH
Cutting & Pasting again
"I called Matin to ask about the reverse split.
The reverse split, according to my understanding, is not intended to take place until it can be useful for the purposes of listing VLVT on the American Exchange. As you know, listing on the AMEX requires a stock price of $3 minimum. VLVT is trading well below its value because of various things - in my opinion, an important problem is the virulent and obsessive bashers protecting large outstanding short positions by terrifying any existing or potential stockholders with wild unfounded stories.
Personally, I am rarely in favor of reverse splits. However, if combined with the proper additional precautions, they are handy tools for forcing the shorts to cover. In this case, a reverse split might be just what VLVT needs. I would rather see the stock price rise to $3 on its own, but I am sure you will agree that appears unlikely at this time unless the bashers leave the stock alone or people pay attention to the facts of the company and not the wild stories.
As I understand from Matin, the reverse split is being presented at the shareholders meeting to avoid having to hold another such meeting in the future to consider a reverse split. In other words, the company wants the ability to quickly do a reverse split if needed. I doubt that such a thing will happen if the stock rises to $3 by itself. Surely the bashers will work to keep the stock low so as to not approach a level where the reverse split would be useful.
In my opinion, it is a shame that people listen to the trash being thrown about on the stock bulletin boards. In my experience, Veltex is a very normal small company. The company releases a lot of information and everyone associated with the company has been quite open in talking with shareholders, and like all small companies, there really isn't much to tell. The trucks are running. The company is pursuing business in its textile and apparel divisions as well as the trucking division and money is being made. The company has had a problem keeping attorneys and auditors because of the volume of phonecalls and the threats these people receive. These are facts.
I would love to see the stock rise on its own to $3, and I am not too worried about more shares. What I am worried about is the strength of the bashing that is going on at the Brand X board. I hope Matin continues to threaten a reverse split! That will force the bashers to cover their shorts! No wwonder they are coming out of the woodwork to bash this stock!"
AI
