FWIW: Here is where I stand as of now:
I scanned all possible and imaginable ways to validate the existance of a real Veltex/Multimodal/... company but whatever I do I always come back to the only available source of information... The company itself.
Hard to beleive that so many presumably honest individuals would do that much effort to manage such a scam for less than $1,000,000 to share between them, after such an exposure to everyone to see? Did they fail in getting the price of the shares up, to generate more money? Do they beleive that nowadays whatever you do to steal shareholders, you will not be sued if the proceed of the scam is small enough?
After what I went thru in a previous (gamble) speculation, I think the second option is possible.
The only problem I have is: why would someone like V.Duff (assuming we beleive in her CV as found on internet) get involved in such a mini-profit scam??? Could she beleive she will also walk away with few dollars claiming she also has been fooled??? Could it be that she honestly is being used by others exploiting her? Who knows???
Personnally I still have $2,120 to loose in this affair ($1805 invested in 1999 and presumed lost for 2 years) and I still hold 10,000 shares after I sold 20,000 at 4.7 cents a couple of weeks ago. Assuming there is still a few weeks left before we get to the final outcome, I try to buy 20,000 shares at 3.1 cents ($705, incl. commission) and sell them again at 4.7 cents (net of $855) before it's over... Unless something I do not beleive in anymore happens???
It's only spare money I do not care to loose anyhow.
My view is that the 50,000,000 shares will have been issued (I do not beleive that they are being used to pay bills but sold to generate cash for
those getting them) within a month and either we never will see audited financials (low probability) or we will see some that will reveal anything but what the company forecasted (high probability), issued with great excuses for the differencials. Then there will have been a "management error and/or incompetence"" but no "illegal behavior" worth going to court.
Those involve may then proceed to phase 3 of the history, having 50,000,000 more shares authorised and great forecasts and promises ... again.
Not having a crystal ball, I can only try to foresee what will most likely be the outcome and I HAVE NO WAY TO SAY THAT I KNOW. Therefore do not give me the Smooth Bashing (BS) argumentation since all I do is to expres AN OPINION...nothing more, nothing less.
Roger
