Very interesting discussion herein. Thanks to all.
As mentionned, we find small bits of very vague and confusing information and we have big questions that we cannot get answers to. This is what speculation is all about. It's based on faith and doubts instead of knowledge and quasi-certitudes.
This is a speculative situation and everything, from the worst to the best, is actually possible. You either "try" to beleive or "try" to not beleive. In both case, you do not realy know.
This being said, either our management team is very smart and will very soon reveal itself to be outstanding or they are a bunch of theifs also being very smart in plotting their coup... Nothing in between.
For the moment, I do not understand what is going on, and that is far from being comfortable. We either made a good "bet" or we've been had by great con artists doing it twice.
In September 99, I bought 4000 shares at 43 cents and thereafter forgot about them when it seemed a total loss (except they kept showing up in my monthly report at $0.0001).
Seeing a move in this monthly report in October 2002 and reading that there was apparent positive activity going on, I decided to average down to 9 cents by adding 26,000 shares, using cash I had in my "speculative portfolio ... just in case (Easier to breack even at 9 cents than at 43 cents !!!).
Since then, notwithstanding the garbage written by some, I concluded that loosing $3000 (all invested since the beginning) or $2000 (assuming I dump all my shares now)would not change my life one way or the other. On the other hand, if that "dream" comes true, it could bring additional fun in my life.
Therefore, I stay, wait and hope even if I understand that this represents a very high risk of loosing a little amount.
If this turns out to be a scam, I will have been had another time by beleiving a reputed person can share in a scam for few $$$.
I have lived thru both scenarios (good and bad ones) in the past. I wasn't dumb thru the first (bad) example and do not claim to have been smart in the second (great) one. I just "gambled" both times money I could afford to loose. I pulled a bad hand in one case and a great one in the other.
Those having been involved in ConSygen a couple of years ago know what I am refering to as a bad case.
Presumably credible people, great business plan, great news releases and NORMALLY REPORTING COMPANY. Then big puff of smoke ??? This drama did unfold over a period of years. When in goes that long you run the risk of adding to your position with time... Very bad ... (I did).
On the other hand, I also lived thru a situation having the same confusing appearance (credible people, great business plan, great news releases and quasi-startup having plenty of excuses to dilute, spend and foresee great financials). I bought (BET) 1500 shares at $1.65 (cdn) 0n Jan 26th,2000 and sold at $18.50 on March 14th of the same year (At some point in time you have to cash in). This situation unfolded over a period of 3 months. That is great since you find out rapidly thereby reducing the risk to add to your position in a long brainwashing process.
Which of these two personal experiences will I soon repeat with Veltex??? No one, but insiders can seriously answer this question right now but we should rapidly find out.
Then the good news: This situation should unfold within 2 or 3 months from now on. If you are to get raped, may as well go thru it fast.
We shall see...
Note: Since I sold at $18.50 at the peack of the bubble, I bought back (INVESTED THIS TIME) 12,500 shares of that same company, at $0.70 on September 25,2001. Closing yesterday was at $1.26.
Roger
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