tag:blogger.com,1999:blog-754894216207950592.post6672549273383770799..comments2024-03-17T20:17:54.833-07:00Comments on NoNameStocks: VLXC: Patience and the UnknownDan Schumhttp://www.blogger.com/profile/05728696891530868697noreply@blogger.comBlogger31125tag:blogger.com,1999:blog-754894216207950592.post-4929626861468736482021-07-15T09:48:16.849-07:002021-07-15T09:48:16.849-07:00Yes I don't see any news. Unfortunately I sol...Yes I don't see any news. Unfortunately I sold a few months ago to buy something else which was a mistake. I don't have a great history of selling one thing to buy anotherDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-86556087955364619882021-07-14T13:49:17.137-07:002021-07-14T13:49:17.137-07:00Not to many news on the company but the shares are...Not to many news on the company but the shares are going up with volumen day by day.<br /><br />Maybe something stronger is coming.David Rodriguezhttps://www.blogger.com/profile/08783326120517776862noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-16478755498864083022020-06-25T03:13:07.265-07:002020-06-25T03:13:07.265-07:00https://finance.yahoo.com/news/veltex-corporation-...https://finance.yahoo.com/news/veltex-corporation-completes-acquisition-west-130000118.html<br />Movement in the company and in the shares.... very interesting. No news about litigation process.David Rodriguezhttps://www.blogger.com/profile/08783326120517776862noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-91160574696454737282020-05-15T03:13:07.431-07:002020-05-15T03:13:07.431-07:00Loved this one Dan. Amazing story like every stock...Loved this one Dan. Amazing story like every stock you talk about. Enjoy a lot reading and inquiring about it.David Rodriguezhttps://www.blogger.com/profile/08783326120517776862noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-15206623579889651832019-07-06T21:28:50.749-07:002019-07-06T21:28:50.749-07:00VLXC has tripled in the last 6 months. Volume sta...VLXC has tripled in the last 6 months. Volume started in Apr when the company announced a new guy joining the board. The press release mentions entering new markets and looking for acquisitions. Maybe something will finally happen with this one<br /><br />https://www.otcmarkets.com/stock/VLXC/news/Veltex-Corporation-Announces-Dr-Harry-L-Haroutunian-MD-Joins-Board-of-Directors?id=225671Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-3181639171595941462017-11-26T18:00:01.783-08:002017-11-26T18:00:01.783-08:00Not entirely unlike ABCP, now undergoing its secon...Not entirely unlike ABCP, now undergoing its second major round of litigation (regarding the investment it made with the money from its Winstar litigation, which was a successful ~20-year affair).ADLhttps://www.blogger.com/profile/11578314123744054067noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-81174140415549203362017-11-06T12:24:51.298-08:002017-11-06T12:24:51.298-08:00The company cannot sue its own insurances but it c...The company cannot sue its own insurances but it can sue those covering accountants, lawyers or other Professional association insure to protect their members. However I Wonder if these insurers covers amounts of penalties resulting from criminal acts if criminal acts can be proven '''Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-73179914780804111382017-11-01T15:07:48.140-07:002017-11-01T15:07:48.140-07:00Can a company like VLXC sue their own insurance co...Can a company like VLXC sue their own insurance company under these circumstances? The good guys didn't perpetrate the fraud.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-77548952846730290632017-10-22T18:26:54.258-07:002017-10-22T18:26:54.258-07:00If you like this one for the NOLS check out Affyma...If you like this one for the NOLS check out Affymax. $1 billion in NOLS and a $1.17 million market cap. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-66827545938891483372017-10-22T09:19:42.220-07:002017-10-22T09:19:42.220-07:00I really believe that VLXC may have a major asset ...I really believe that VLXC may have a major asset with this NOL (that is on their books) and the NOL that may be coming along with cash and property. These are BIG numbers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-61475186303582863592017-10-21T11:07:44.249-07:002017-10-21T11:07:44.249-07:00Thanks. I'll check that outThanks. I'll check that outDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-7423117774775722142017-10-20T15:02:06.713-07:002017-10-20T15:02:06.713-07:00You might like SORT, they create sorting and print...You might like SORT, they create sorting and printing machines for mostly financial companies. $1.2m in EBIT from ink sales which is steadily growing, and a few $100k from sale of their machines (which has pretty big swings). I managed to get some shares for $0.2 (or at less than 4x EBIT). <br /><br />Illiquid as hell though, so patience is key :) . Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-56354327432575004442017-10-19T08:44:33.839-07:002017-10-19T08:44:33.839-07:00I have written on SA in the past before I had a bl...I have written on SA in the past before I had a blog. Now I prefer to keep it all here where I own and control it. Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-36261237998684584422017-10-19T08:29:59.063-07:002017-10-19T08:29:59.063-07:00Thank you. I only write here on my blog.
As with...Thank you. I only write here on my blog.<br /><br />As with all my stocks, if there are notable developments I may write a blog post. It all depends what happens with the stock and what else I have going on. Dan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-50040359047336269222017-10-19T08:21:47.385-07:002017-10-19T08:21:47.385-07:00VLXC is or should be a "Seeking Alpha " ...VLXC is or should be a "Seeking Alpha " review and blog Dan. You should look into that. Wonderful work by you on this corporation. Will you be updating as time passes?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-78992456972627071462017-10-19T08:07:28.045-07:002017-10-19T08:07:28.045-07:00Veltex Corporation has an asset when and if the co...Veltex Corporation has an asset when and if the company "writes down" those 22 judgements. Also appears they have other judgements in California. AND property liens AND settlements. These have state tax implications also...so both Federal and State (any state but especially California) possible. Not a tax lawyer here but this seems most promising looking forward. Interesting to say the least here. A little bit complex but interesting.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-52224399824100171032017-10-16T13:05:32.229-07:002017-10-16T13:05:32.229-07:00I love these situations. Even if the odds are not ...I love these situations. Even if the odds are not in your favor sometimes the upside can be so high that it's worth a speculation. I've kind of set a random number of at least 10% likelihood of success for these lotto ticket situations (adjust higher for lower expected gain). <br /><br />These situations are way better if they are thrown in for free in a company that has operations or assets worth the price of admission alone. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-11994055134287885682017-10-11T07:39:38.006-07:002017-10-11T07:39:38.006-07:00Thanks for the comments everyone. I was not even ...Thanks for the comments everyone. I was not even thinking about uncollected funds being a NOL asset. That's greatDan Schumhttps://www.blogger.com/profile/05728696891530868697noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-38511685717055488592017-10-11T06:38:16.806-07:002017-10-11T06:38:16.806-07:00Sometime damages can be paid by corporation's ...Sometime damages can be paid by corporation's insurers (lawyers, accountants, ...). Those generally have a lot more ressources to go after. Let's hope the management has included them in whatever legal matters they initiated ???<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-6366452478109782062017-10-11T06:28:56.361-07:002017-10-11T06:28:56.361-07:00Those defendants that defaulted are still on the h...Those defendants that defaulted are still on the hook. There are 22 defendants in the legal matter. Some settled and liens are filed on property, from what I can find. The Nevada litigation appears to have $300,000 from one and a $2,000,000 contact against other individuals and companies just there. There is enforcement in several states and Canada. What they don't collect is a NOL asset. The more you dig the better this looks. Great find Dan.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-21252486114777078382017-10-10T15:34:00.228-07:002017-10-10T15:34:00.228-07:00Red flag in that the defendants subject to the jud...Red flag in that the defendants subject to the judgement were defaulted. When a defendant doesn't respond to a lawsuit it is often because they are broke or are otherwise judgement proof. The SEC complaint against Matin and Wilshire states that they made all of $6.5M off of this pump and dump scheme. So unless Matin had other sources of wealth it is unlikely that he is sitting on anywhere close to $150M. Wilshire Equity was created by Matin solely for the purpose of receiving the Veltex shares and selling them so no assets there. I am skeptical that there is much to be recovered beyond the immaterial settlements that have already been secured. The NOL might be of some value to an acquirer though. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-17202668398316046252017-10-10T08:55:13.165-07:002017-10-10T08:55:13.165-07:00Actually once you make the efforts to collect thes...Actually once you make the efforts to collect these become theft loss and can be utilize for 20 yearsNotanindexhttps://www.blogger.com/profile/11510536690084241724noreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-6751636185301542252017-10-10T08:16:44.616-07:002017-10-10T08:16:44.616-07:00This is a VERY interesting corporation. The manage...This is a VERY interesting corporation. The management is aggressive and I believe the tax area and value within could payoff in a major way let alone collection that appears to be going well in Nevada for a start. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-27317908389203684772017-10-10T07:04:38.619-07:002017-10-10T07:04:38.619-07:00Personally I bought in this in the mid 90's an...Personally I bought in this in the mid 90's and enjoyed trading in and out till I had 50,000 or so almost free shares. Then the sh.. hit the fan and I mentally wrote these off (they however stayed in my prtfolio). Then someone decided not to accept being screw.. and had the means to go after the crooks who stole from us. Your story summarize the following event very well (thanks again). When the situation became alive again, I did buy 50,000 more shares at + or less 11 cents ... just in case. I now sit on 100,000 shares at s slighly higher cost than 5 pennies, in a stock I decided to gamble on (not invest bu play) and I plan to sit on them till the management decides time has come to somehow materialize our asset somehow. At current PPS I definitely think this is a GOOD BET (high risk however) for one who can get his hands on shares. The proble is that those having shares like I are not very much interested in selling out. BOLTA.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-754894216207950592.post-84927731836729248282017-10-09T11:35:57.855-07:002017-10-09T11:35:57.855-07:00Agree. Look at the tax NOL if uncollected of $160,...Agree. Look at the tax NOL if uncollected of $160,000,000 with about $3,000,000 already on the books.Anonymousnoreply@blogger.com