Replies to post #6694 on Veltex Corporation (VLXC)

[shrotker]

I guess I'm an oldtimer. I don't think this is a fraud, but I don't believe the fabulous claims either. I believe that Veltex is in business and selling product. What I don't know is how much of those sales belong to Veltex and how much to Veltex Textile Mills and how much were for KCA Garment. With the absence of any breakdown from Bangladesh I simply do not trust that Matin has reported profit accurately.
The fact that deals that were "complete" earlier and not being reported as "complete" almost a year later is troubling. The fact that the company once stated that Veltex Textime Mills was a "wholly owned subsidary" coupled with the 18 million post r/s share proposal to buy what remained of the mill is also cause for concern.

Other than that I'm one happy camper.

Oh yeah, I forgot all of the missed deadlines and promises not kept.

Sorry.

[pual]

"just incompetence with perhaps a good ending?"

I would say as an old timer:

"naive dreamer, a lot of incompetence as a business manager, with most likely some king of good ending."

Do not ask me when the ending will be.

[invest1980]

I have only been in Veltex for 2 years and for the last two years I did not trade in and out (which was a mistake). I guess I was naive an believed Matin and his PRs (again, a mistake).

I think matin has a real company and not a shell, but there is no way to verify his claims of profitability and what he owns and does not own. I think he has intentionally lied, or at a minimum misled the investment community.

The thing that bothers me a great deal is the fact that he lied about his education (or presumably lied since no-one has been able to track down the infamous Asheville University in London England.). When a man lies about his education, that tells you a lot about the character of the man.

Now I am in this stock just to trade it on the swings between PRs.